TOP 15 BUSINESS OPPORTUNITIES IN NIGERIA FOR 2018
Top 15 Business Opportunities In Nigeria For 2018 This article provides 15 top business opportunities that will continue to propagate millionaires in Nigeria this 2018. Each of them is guaranteed to make you money and steadily put you on the path to financial freedom.
Let’s take a look;
#1. Transportation: Transportation business in Nigeria is highly profitable, and there are no two ways about it. First, consider the fact that transportation is a necessity, as people need to move from one place to another to make ends meet. Or the fact that every single day, thousands of people are constantly moving from one part of the federation to another. Secondly, it is also inevitable to move goods, animals, crops, clothing, raw materials, equipment etc. from one point to another. And judging from the increase in population; there seems to be an increase in demand for transportation services in 2018. And you won’t believe this; but of every 1000 people in Nigeria, only about 31 own cars.
The implication being that, most people rely heavily on public transportation and logistics to manage their businesses and daily lives. Transportation business is really booming now, more than ever. The mode of service delivery may differ, but the earning potential of the business still remains the same.
There are a number of transportation services you could offer, such as; haulage and logistics services, taxi services, country shuttle services, leasing of heavy-duty vehicles, leasing out your car for others to operate and deliver regular returns to you, and so on. It’s up to you.
#2. Rice farming business: The opportunities and money making avenues in rice farming are endless. You can develop your business to cultivate and harvest rice, construct rice mills for milling and processing, or work as a wholesale distributor, it’s all up to you. And it doesn’t really matter, because regardless of what area you choose to specialize in, you will surely smile to the bank on a daily basis. However, considering the fact that Nigeria has got such a huge market for rice, you are better placed if you go into rice farming and the large-scale processing of rice.
Of course, you want to make sure that you’re well informed as to how to start up; the entire cultivation, harvesting, and storage processes. Also how to identify, and where to get healthy seeds. You should buy your seeds from a company that is licensed and registered with the National Agricultural Seeds Council (NASC).
Obviously, rice farming does have huge profit potential, as proven by the fact that Aliko Dangote has proposed to invest $1billion in modern integrated rice mills and commercial rice farming in Nigeria.
#3. Copywriting: The demand for copywriters is ever increasing, as is evident by more and more companies looking for such services. So many companies out there that focus on content marketing, will be more than happy to pay you your desired fees if you can create sales copy for them to help generate more sales for their business.
All you need is; great writing skills, otherwise, you can choose to go for training on Copywriting.
#4. Waste: As the country’s population continues to increase, so will the waste problem only get worse? The question is; how can you turn this problem into a business opportunity? Ever heard of waste management?
The waste management industry was born out of the need to protect our environment from hazardous substances. And while this may not be a business that most people want to explore, it still continues to be a money spinner for the few involved in it.
Here are a few business opportunities in this industry
- Recycling plant
- Collection and sales of factory waste
- Residential garbage collection
- Industrial waste collection
- Scrap metal depots
- Mobile toilets
- Rubber waste recycling
- Bottle and can recycling
- Used oil recycling
- Biofuel production
- Construction wastes
- Medical waste recycling
- Sales of waste management equipment, etc
#5. Social media consultancy: With more businesses springing up every day, there is a need for businesses to leverage social media networks like Facebook, Twitter, Instagram, etc, to grow their reach. And this has led to a huge demand for social media consultants ( marketing experts) who advise businesses on how to promote and market their products and services on social media networks, and this demand will only keep increasing for as long as social media continues to remain relevant.
#6. Wedding photography: If you’re an individual with firsthand experience in the photography profession and are confident enough to consider opening a photography outfit; make it a wedding photography outfit. And you’re sure going to become a millionaire before you finish spelling your name, literally! OK, just kidding. Wedding photography is probably one of the fastest growing and biggest niche so far. I mean you just can’t ignore it; wedding photographers are making a LOT of money.
#7. Livestock feed production: This is one of the most profitablagribusinesses to venture into. And this is because the producer does not experience the risks and high costs of raising farm animals. Here are some of the business opportunities in livestock feed production in 2018;
- Chicken feed production
- Fish food production
- Pig feed production
- Goat feed production
- Cattle feed production
- Dog food production, and
- Cat food production.
#8. FMCG distribution business: initiating a FMCG distribution business in Nigeria can be a very profitable and rewarding business option for an aspiring entrepreneur. Generally, the success of your distribution business will largely hang on;
- Proper inventory management
- Selecting the right product
- Adequate planning
- Product promotion
- Customer service, and
- Local market demand for your product niche
#9. Furniture making: Attention! The furniture market is rising, due to an increase in demand from the domestic sector. And in 2016, the international trade of furniture amounted to US$129 billion, and is expected to grow until 2020 at a rate of 4% per annum, so if you’re still seated, you’re wrong. Get up and grab your own share of the market!
#10. Crowdfarming: Crowd farming is a model where a number of investors share risks and own shares in a farming venture. And this is a brilliant business opportunity in that it allows people that may have work commitments away from the land to participate and earn from the profits. According to the United Nations, Africa’s agribusiness is expected to be worth $1 trillion by 2030, so what are you waiting for? Why not take hold of this business opportunity?
There are currently two crowdfarming platforms you can invest in here in Nigeria;
- FarmCrowdy, and
Simply visit their websites to sign up for free and then choose a package that suits you; for immediate investment in a new farming season. Hurry!
#11. Cocoa exportation: Cocoa is a fast-selling agricultural commodity in the local and international markets. The reason being that it is a major raw material for food processing industries. You can make millions of naira from one single transaction of exporting tons of cocoa; with a ton costing $200, which is equivalent to N72,000. If you can export up to 1000 tons in a single transaction, that is N72,000,000! Just like that literally.
#12. Digital marketing: Digital marketing involves promoting brands through various forms of digital media. Starting a digital marketing business can be one of the most rewarding ventures you can startup in 2018; majorly because more and more brands are becoming more aware of the need to establish an online presence for their businesses.
#13. Job agency: Given the high rate of employment in the country and even the global community at large; starting up a job recruitment agency can serve to solve the problem of millions of job seekers. You’re the guy that matches job recruiters with job seekers, and get to make a lot of money from filling this need.
#14. E commerce: With e-commerce, you do not need to have a physical inventory. It is very possible to startup without buying a single commodity, in this case, you can employ dropshipping. The most important key here is contracting with suppliers of commodities, so that once orders are made by your customers, they’re made available on time.
#15. Restaurant business: You didn’t think I would leave this out, did you? In 2018, 2019, 2020, and maybe forever; food business will remain serious business. Investing in a restaurant business on the one hand, can comfortably provide you with a 100% or higher returns on your investment anytime, in any economy; doesn’t matter. So go ahead if you’re up to it.
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