5 Small Business Ideas in Nigeria You Should Invest
Small Business Ideas in Nigeria – Are you an entrepreneur looking for where to invest your money with good profits? Do you want to invest but you don’t know where to invest your money?
Do you want to know where to find fast small growing business ideas in Nigeria? Then I’ll advise you to read on because this article was written especially for you.
Small Business Ideas in Nigeria
1. Agro-Products Exportation
Nigeria is blessed with a lot of food and natural resources, and most of these natural resources are raw materials needed for the production of some finished products.
Every day, tons of raw materials and food products leave the shores of Nigeria to countries such as India, Vietnam, China, USA, UK, Brazil, etc.; yet, the demand is never met.
You can become an exporter by simply registering with the Nigerian Export Promotion Council and decide on the specific product you wish to export.
Examples of products highly in demand both within and outside Nigeria are Chili pepper, Mango, Kola nuts, Bitter Kola, Cassava flakes (Garri), Cocoa, Groundnut, Yam flour, Cashew nuts, etc.
However, if you think you don’t have the capital or time to engage in agro-products exportation, then you can stay local by buying and selling them within the country. A good example of a product you can buy and sell for huge profits is Palm Oil.
2. Livestock Farming
Do you know that one of the fastest growing business opportunities in Nigeria is catfish farming? The primary reason I listed catfish farming as one of the fastest business opportunities in Nigeria is because it’s an emerging industry that hasn’t reached its peak or full potential.
The major players in this business are usually regional players. What this means, in essence, is that each major player in the catfish farming industry is focused only on a particular business terrain within the geographical location of the farm.
Now for those who don’t know, there is a bill being proposed now by the federal government of Nigeria to ban the importation of frozen fish.
Once this bill is passed into law by the national assembly, the local fish farmers will smile and you will be left behind.
With respect to poultry farming, the ban imposed by the federal government of Nigeria with respect to the importation of live or frozen poultry birds has only helped explode the demand.
To be honest with you, livestock farming, in general, is a booming business in Nigeria and the trend is not dying anytime soon.
If you can come in with adequate knowledge and the patience to nurture this business, you will reap immensely.
You can choose to either venture into livestock breeding of animals or better still, you can stick to livestock feed production or equipment retailing.
- Poultry farming – Egg production, meat production, hatchery or day-old-chicks production, etc.
- Cattle Farming – Dairy (milk) production, beef, etc.
- Rabbit Farming
- Goat Farming
- Tilapia Fish Farming
- Grasscutter Farming
- Snail Farming
- Quail Farming
3. Sewing Of Specialized Uniforms
There are lots of schools in Nigeria (both Crèche, primary and secondary) and each of these schools has a specific uniform or attire for their students.
There are also a lot of military (Army, Air Force, Navy), paramilitary (Civil Defense Corps, Police Force) and non-paramilitary (Road Safety, Traffic Warden, Kick against Indiscipline, Vigilante groups, etc.) organizations in Nigeria that make use of uniforms. You can position yourself as a uniform supplier and make money from it.
4. Inland Waterway Transport
There are lots of opportunities in the transport industry and inland waterway is one of them. Nigeria has a broad network of inland waterways comprising rivers, creeks, lakes, and seas; yet, transportation still remains a challenge because investors are yet to tap into water transportation.
A lot of countries such as Italy, Thailand, etc. have effectively been utilizing their waterways as a means of transport; thus reducing the traffic congestion on the road.
All you need to do is to incorporate an establishment, obtain a license from the state and federal government, import or purchase some locally fabricated boats; and you are in business.
Nigeria is catching on with the rest of the world with respect to technology. If you are technologically inclined, you can set up shop in Nigeria and start offering e-services to clients.
Example of such e-services includes Web designing and development, Web hosting, App development, Digital marketing services, Search Engine Optimization services, Banner design services, Bulk SMS services, Online registration of exams such as JAMB, WAEC, professional courses, etc.
In conclusion, the business ideas shared in this piece have been tested and proven lucrative in the Nigerian market especially for small businesses.
But for you to be successful in any of the above-listed businesses, you need to have the right business strategy and also an ideology for starting a successful internet business in Nigeria.
Most especially when it comes to acquiring customers and keeping those customers over a long period of time.
You need to be able to sell yourself and your ideas to the people that want to do business with you.
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