TOP 10 LUCRATIVE BUSINESSES IN NIGERIA
Looking to invest your money into something profitable?
A lot of us venture into investments without considering some factors, especially the state of economy. And even people think with this state of economy, there are no lucrative businesses that can yield/guarantee profit. Well they are wrong. Regardless of the economic state, there will always be lucrative businesses. All you need to do is change your style of approach and some other little change in the business to balance it all.
Due to the present state of economy in Nigeria, the number of businesses that can guarantee a high profit yield has dropped drastically. But here is a list of top 10 businesses that has continuously yielded profit no matter the state of the economy and guarantees a high yield of profit.
Nigeria’s economy is broken due to the fall in the international price of crude oil. With Salaries being cut and staffs being downsized, Nigeria itself is moving towards other revenue streams. It’s a no-surprise that agriculture is the next major thing in the country, and with people losing their jobs and businesses failing, one lucrative area to invest in is farming. This is the top 5 branches of agriculture you can invest in: Fish Farming, Poultry, Cassava Farming, Grain Farming and Tomato farming.
These agricultural business ideas are one you can easily start today in your compound and grow from there. And this is arguably the best among all lucrative businesses in Nigeria.
SALE OF FURNITURE:
Sales of locally made furniture is a goldmine. You don’t need to be a carpenter to do this. This business can be done by anyone, no matter who you are as long as you have the needed capital to start this business which in most cases may not be more than N150,000. Just arrange for constant supply from reliable Carpenters while you display and sell in your showroom. It is a very big business in Nigeria as only few can afford the imported designers.
OIL AND GAS BUSINESS:
Nigeria is blessed and cursed with huge deposit of oil. The land itself presents the best opportunity for us citizens and foreigners. Most businesses in Nigeria started from owning of petrol filling stations, distributing kerosene, supplying diesel or gas logistics. These areas are always good for making money; you can invest in them and be sure to yield a great profit from it.
HAULAGE AND LOGISTICS SERVICE:
Transportation is one of the major factors in every economy. To transport a good from one location to another costs around N25, 000 to N200, 000 per trip. Due to poor rail system, limited and expensive water and air transport system, most goods are transported through the road which makes haulage and logistic service in Nigeria viable.
Hotel business is one of the coolest and biggest money making opportunity in Nigeria. A small or mini hotel can guarantee a very high profit return. There is no tourist attraction involved, Nigeria system somehow supports this business as a result, makes it grow and fast.
INVESTING IN REAL ESTATE AND PROPERTIES:
Investing in real estate is also among the coolest and biggest money making opportunity in Nigeria. Properties appreciate every day in Nigeria. Right now, buying a land in any urban area can guarantee 100% profit in two years. You can either buy and resell immediately or leave it for a while and resell later; in conclusion, you are making profit. This makes it a very lucrative business to invest in.