25 Small Scale Business ideas and
Investment Opportunities in Nigeria
Let's Dive into it
1. 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. One this bill is passed into law by the national
assembly, the local fish farmers will smile and you will be left behind. So why
not position yourself now?
Update: Just as we predicted
many years ago, the Federal Government has eventually implemented and enforced
the ban on the importation of fish starting from December 2013.
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.
You can even start this
business from your backyard. With 150+million mouths to feed daily, there will
always be demand for livestock products. However, lack of technical know-how
and the use of crude equipment are the major factors hampering the growth of
this industry.
If you can come in with adequate
knowledge and the patience to nurture this business, you will reap immensely.
Now 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
Sheep
Tilapia Fish Farming
Piggery
Grasscutter Farming
Snail Farming
2. 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.
3. Mining
Nigeria is blessed with a lot of
mineral resources like Limestone, Coal, Iron ore, Bitumen, etc. Aside this, the
mining industry in Nigeria is set to take off because the federal government in
June 2013 implemented a policy to drive forward the mining industry by
declaring the importation of mining equipment duty free. The government is also
going after many dormant investors who were granted mining licenses but are not
utilizing it. This act I believe, will spur the growth in the mining sector. If
you have the financial capacity and a team, you can position yourself in this
sector.
4. Setting up a private mini
refinery
There are lots of business
opportunities in the oil and gas sector. Building a private refinery and
refining crude oil is another business you should look into because there is a
lot of potential in it. In January 2012, the federal government announced the
partial removal of subsidy and with a long term plan to totally remove fuel
subsidy. What this means in essence is that petroleum product importers will
now sell as they buy; thus bringing in competition and it is a known fact that
80% of petroleum products consumed in Nigeria are imported.
Now with the total removal of fuel
subsidy, investors will now have the opportunity to set up their own refinery
and produce fuel. Are you among those that think the total fuel subsidy removal
is a pipe dream? Then think again because in May 2013, Aliko Dangote raised
$9billion for the setting up of a refinery; which will be sited in Ondo state.
Honestly, i understand that not
everyone have the financial capacity and technical know-how to invest in a
private refinery. Well, you can still tap into the oil and gas sector
by setting up a filling station, starting a mini kerosene retailing
depot or establishing a cooking gas retailing outlet. Which ever one
you choose, you will surely make money. Enough said.
Fast Growing Small Scale Business ideas in Nigeria
5. 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 a company, obtain license from the state and federal
government, import or purchase some locally fabricated boats; and you are in
business.
6. Establishing a Television
and Radio Station
Now it is a known fact that the
mass media industry is saturated in Nigeria. However, this is only true for
some cities in Nigeria such as Lagos and Abuja. I have travel through several
parts of the countries and discovered that most states have no private TV
station, and only rely on the government own TV stations; which are very
incompetent, uncreative and unreliable. I see an opportunity for entrepreneurs
and investors with interest and competence in broadcasting or mass media. You
can either choose to setup a radio station or TV Station.
7. Setting up a security
company
There is a huge demand for
excellent security services in Nigeria. As the government battle to improve the
security situation in the country, individuals and corporate entities are now
becoming aware of the fact that security is not the responsibility of the
government alone; it is a collective responsibility. Hence, the current
increase in demand for security guards, bodyguards, executive protection
professionals and security gadgets or devices.
As an entrepreneur or investor, you
can setup a security guard recruitment or training company, or you can setup an
executive protection or bodyguard agency. Also, you can import and retail
security products and safety devices.
8. Sewing of specialized uniforms
There are over 500 schools (both
Crèche, primary and secondary) in Lagos state alone; and each of these schools
have a specific uniform or attire for their students. Okay, let’s look beyond
educational institutions. Do you know that other individuals and corporate
organizations are in need of uniforms for their security personnel, staff, etc?
There are also a lot or 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.
9. Construction company
Nigeria is still a developing
country especially in the area of infrastructure but this is set to change in
the nearest future. Massive constructions are currently on-going in Nigeria
ranging from bridges, roads, towers and skyscrapers, etc. If you run a
construction company oversee, or you have the financial capacity to assemble
the needed team and machinery for a construction company; then this is a
business you should invest in.
10. Become a Dangote cement
distributor
11. Set up a writing company
If you are current with trend, you
would have observed that most jobs in the United States are now being
outsourced to countries like Philippines, India, China, etc. And as things
stand now, a trickle of such outsourcing jobs are coming to Nigeria and one of
such jobs is Article Writing or Ghostwriting.
Do you have passion and skill
for writing? If yes, then you can either choose to write from home as a
self employed freelance writer or you can setup a company, employ
competent writers and source for jobs online. This business is easy to get into
and it is very profitable.
12. Barbing Salon/ Beauty Shop.
13. Recruitment Agency
The labour market is becoming
tougher and there are over five million unemployed youths in Nigeria. Another
hard fact is that companies are no longer employing full time in-house staff;
they are now using the services of recruitment agencies to employ people based
on contract basis.
This strategy is aimed at reducing
the cost of doing business by avoiding the cost of conducting a recruitment exercise
and also avoiding employee claims and benefits. This is the sole reason why
banks and other companies are sacking their workers on daily basis.
So rather than fight the trend, why
not profit from it by setting up a recruitment agency and connect jobseekers to
their dream jobs. You can also be a corporate executive headhunter and make
money poaching competent staff from one company to another. If this is too
capital intensive for you, then you can setup a resume writing service
from home and profit from the trend.
14. Importation of wears
Clothing is another basic need of
man. Regardless of the economy, people must wear clothes and this includes
shoes, bags, underwear, perfumes, etc. Now there is a fast growing trend now
and that is “Used clothes” or “Recycled clothes,” otherwise called “Okirika.”
Since the economy is getting
tougher and there’s need to be clothed, the masses have resolved to buying used
clothes rather than new ones. Still yet, there is a market for new clothes; for
men, women, and kids. You can source your materials from China, Hong Kong,
Italy, France, Dubai, India, etc.
15. Haulage and logistics
Haulage and logistics is another
booming business in Nigeria because regardless of the weather, people must haul
their goods from one location to another. In fact,haulage or trucking business
is one of the most profitable businesses so far; though it is management
intensive. However, you can start with just a truck and see how it goes.
You can choose to focus on hauling
containers for clients from the seaports to their various destinations or
better still, you can choose to haul products of specific companies such as
breweries, production companies, etc. You can also haul perishable goods from
farms and villages to the marketplace or you can haul specialty products such
as frozen foods, petroleum products, gas, etc.
Now there is also an opportunity
for those who want to venture into haulage business but do not want to be
bugged down by management requirements. All you need to do is to buy a truck
and contract it to a Haulage and logistics company; which will in turn pay you
a specified amount weekly or monthly based on agreement.
16. Outsourced bus service
This is another form of haulage
business, but this time you will be lifting humans. This is a business that
requires providing transportation services to organizations that
cannot afford to buy a vehicle in-house. Your clients in this case can be
schools, religious organizations, NGOs, corporate bodies, etc. Some corporate
organizations can’t afford an in-house transport system for its executives and
staff, so this is where you come in. You provide the cars or buses, provide the
drivers and you are paid on a monthly bases or contract bases for the use of
your transport services.
Another area of target is schools.
Most schools would like to provide transport facilities for their students but
they can’t afford it and this is where you come in. You provide a bus service
system and send out a proposal to schools to use your bus services. Just imagine
20 or more young schools jointly using your student bus service system and you
will catch the vision of this idea.
Small Scale Business Investment Opportunities in Nigeria
17. e-Services
Nigeria is catching on with the
rest of the world with respect to technology. If you are technologically
inclined, you can setup shop in Nigeria and start offering e-services to
clients. Example of such e-services include 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
18. Daycare centre
The demand for quality childcare
service is increasing daily. Parents are now working harder just to generate
enough income to keep the family going, thus leaving them with less time for
the children.
Now to be honest with you, there
are a lot of daycare centers existing but only a few are providing exceptional
services; and parents that cherish their kids are never comfortable leaving
their kids in a child care centre whose environment is dirty. If you can come
in with exceptional service and creativity, you will make money from this
business. Another thing you must know is that you can start this business from
home.
Now for those who lack the capital
and experience to setup a full-scale childcare center, you can still make
profit of this niche by starting a small scale babysitting service or
Nanny agency.
19. Training centers
Every year, millions of people sit
for examinations and tests in Nigeria and most of these people usually need
some kind of trainings or tutorials. You can position yourself as a provider of
such training and make money off this niche. Examples of trainings you can offer
include skill vocational acquisition training, corporate management skill
training, etc. You can also conduct tutorial for individuals writing
professional exams like ICAN, WAEC, JAMB, A. LEVEL, etc.
20. Waste Management
Waste management is another business
with a future potential because Nigerians are yet to imbibe the habit of
proper waste disposal. However, states like Lagos have been doing a lot to
encourage proper waste disposal and management. Now there are several
businesses you can start within the waste management niche and these
include waste recycling, waste disposal, junk hauling, organic
fertilizer production, etc.
21. Food processing
Another profitable industry to
consider is the food processing industry. The concept of this industry is
simply to take raw food materials and turn them into finished products. In
fact, there are a lot of businesses you can do in this niche and examples of
such businesses include Tomato puree production, Frozen food
production,yogurt production, Vegetable oil production, Garri
Processing, oil palm processing, groundnut processing, Fruit juice
production, Rice milling, etc.
22. Alternative Power
Installation
As the world goes green, and
Nigeria battles her power supply challenges; there is an already established
opening in Nigeria’s power sector. Even though the government has taken steps
to deregulate the power sector by granting licenses for Independent Power
Plants, granting a free import duty for the importation of power generation
equipment and commissioning several power projects, this will never hamper the
growing demand for alternative power generators such as solar energy, wind
mills, Inverters, etc. You can either make money by importing and retailing
these materials or you can choose to focus on installations.
23. Plantation Farming
Do you have a fertile vacant land
and you know that you won’t be developing any structure on it in the nearest
future? Then why not start a livestock farming, crop cultivation or plantation
farming. There are a lot of cash crops you can plant, nurture and forget; and
they will keep providing you with steady returns annually. Examples of crops
you can start a plantation around are Orange, Plantain, Kola nut, Oil
palm, Cocoa, Cassava, Yam, etc.
24. Manufacturing
You can also venture
into small scale manufacturing of products that are in daily need.
You don’t need to build a factory or industrial plant; you can start on a small
scale from your room or a rented store or apartment. Products you can start
manufacturing include Toothpicks, Tissue paper, Serviette, chalk
production, candle,Match sticks, nylons and polythene bags,
cartons, paper bags, etc.
25. Bottled water production
I get calls from individuals almost
on daily basis who are interested in setting up a “sachet water” (Pure water)
production plant. Now let me tell you the honest truth, the sachet water or
pure water business is saturated and the business may die off very soon. Why
did I say this? Well, I got information from a reliable source that there is a
long term plan to ban the production of sachet or nylon water; so as to stem
environmental degradation and checkmate blocked drainages.
So once this bill is passed into
law, the sachet water production industry is toast. The only solution I foresee
that can keep this business afloat is the establishment of a nylon recycling
plant. However, to avoid being a victim of this yet-to-be proposed policy, it
is advisable you venture into bottled water products and establish yourself as
a brand.
source
: mytopbusinessideas.com
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