Top 10 Most Lucrative Investment Opportunities in Nigeria

Are you looking for where to invest your money and enjoy the dividends? If yes, see the Top 10 Most Lucrative Investment Opportunities in Nigeria.

Investment simply is the act of investing i.e. laying out cash or capital in an enterprise with the expectation of obtaining an additional income or profit. Warren Buffet famously defined investment as the process of laying out money now to receive more money in the future.

From the definition, the goal of every investment is to make extra income, profit whether one-time or continually, depending on the type of investment. For instance, if I buy a dozen biscuits with 500 naira and I plan to sell each biscuit for 70 naira, it means I would realize 840 naira i.e. an extra 340 naira.

Top 10 Most Lucrative Investment Opportunities in Nigeria

This is investment. Similarly, if I start a barbing salon by renting a room and buying the equipment needed, I would be investing as well. The first example is one-time while the second is continual.

The benefits of investment transcend just making profits for the investor. Investments create jobs for the workforce of an economy: thereby, increasing the standard of living and enhancing economic growth. Accordingly, the President of Rwanda.

Paul Kagame, retorted: “In Africa today, we recognize that trade and investment, and not aid, are the pillars of development.” Thus investment is crucial, yet risky since you could lose your capital if you do not make enough research, study and analysis before doling out cash.

The purpose of this article thus is to give you the investment ideas which are evergreen in Nigeria. The industries in the list below have in the past and still at the moment proved investment-worthy.

A great investor, according to Andrew Lo, needs the right combination of intuition, business ideas and investment talent. These are the requisite business ideas:

Top 10 Most Lucrative Investment Opportunities in Nigeria

1. FOOD/CATERING BUSINESS:

Food is for every season; it is a basic necessity of life. People just have to eat! That’s why the food business is a money spinner any day, anytime!

You don’t have to be a chef as long as you have the capital and the managerial skill, you can start something. This business is vast – buka/cafeteria, eateries/restaurant, fast food and chops.

Rendering catering services at events is another dimension of it. The good part is that it is not so capital-intensive if you start small and grow it.

However, good customer service and sound managerial skills are needed to keep it afloat. You don’t want to lose customers to competitors.

2. THE HOUSING INDUSTRY:

Just like food, shelter is a basic necessity of life. It is a must-have. Capitalize on this need and invest.

The housing industry comprises the construction, development and sale of houses. Thus it features real estate; sale of construction materials like cement, blocks, ceramic, construction tools and so on.

We cannot cover the scope of this industry. But what we know for sure is that every area of it is lucrative. Invest and make huge profits. Read More: How To Start Real Estate Business Investment In Nigeria

3. FASHION INDUSTRY:

Although the fashion industry is just emerging in Nigeria, its growth rate is mind-blowing.

According to Mrs. Funmi Ladipo-Ajila, the President of Fashion Designers Association of Nigeria (FADAN), the Nigerian fashion industry is worth more than 2 trillion naira and it is still growing.

Now is the perfect time to invest in fashion. Do you have a passion for fashion? Learn it and get rich. And if you have the resources, funding budding young fashion designers can yield a lot. Read more >> How to Start Fashion Boutique Business in Nigeria

4. AGRIBUSINESS:

Agriculture has always been a gravy train especially large scale. There are endless opportunities in agriculture though it is capital intensive.

Taking a loan is worth the risk however because the demand for agricultural products all over the world is on the high side. In fact, according to the National Bureau of Statistics, the agricultural business has contributed nothing less than 20% to the GDP since 2016.

Opportunities include rice farming, poultry farming, fishery, cash crop farming – cocoa, rubber, oil palm etc. A distinctive feature of the agribusiness is that its products go into every other sector of the economy.

Ideally, large scale farmers should be wealthy and so it is. Olatunde Badmus is a perfect example. Read more >> 5 Roles of Agriculture in Nigeria’s Economy

5. EDUCATION:

Nigerians don’t joke with education especially at the primary and secondary levels. And with the pathetic state of government schools, parents opt for private schools for their children.

These days, reputable primary and secondary schools charge a lot per term and parents pay! Starting up such now or later is a sound investment move.

It will surely pay as long as professionalism and quality are not jeopardized. Private universities also rack in huge amounts of cash and have become viable alternatives to the slow and unstable government universities.

Covenant university, Afe Babalola University and Babcock University are worthy examples. Read more on >> How to Start a School in Nigeria

6. TECHNOLOGICAL GADGET BUSINESS:

It is now commonplace to see kiosks, shops and large buildings where mobile phones, laptops, iPods, tablets and other gadgets are sold and swapped.

The gist is that the business yields a lot. Everyone needs a mobile phone, individuals and corporate organizations need computers for operations, most youths can’t do without their mp3 players and iPods neither can they go a day without their video games like the PlayStation, Xbox etc.

With the rate Nigerians buy gadgets, large scale investment in it is wise. See the Top 10 Popular Electronics Stores in Lagos, Nigeria

7. AUTOMOBILE BUSINESS:

Just like gadgets, the demand for vehicles is constant both from individuals and corporate organizations. For instance, transport businesses require buses to run.

Motorcycles are everywhere and people are still buying. Similarly, dealing in spare parts is lucrative. Vehicles are subject to wear and tear and instead of buying another, changing the faulty parts is the way to go.

Investing either in car dealership or spare parts is a viable investment move in Nigeria. It is however capital-intensive.

8. MUSIC INDUSTRY:

The Nigerian music industry is extremely rich even though it is still growing. Artistes are cashing out big cheques as singles and albums are dropping and managers are smiling.

Venturing into the music industry does not require you singing. E-money doesn’t sing neither does Kenny Ogungbe but they are making it big right in the music industry.

Setting up a record label for talented young musicians and promoting them financially is one easy way to amass wealth.

Read More >> 10 Tips to Make Money from the Music Industry

9. TRANSPORTATION BUSINESS:

Transport business in Nigeria especially by road is well patronized: hence, very profitable. Going large scale into it can be hugely rewarding and very fast in increase.

During festive periods, there can be no limit to income because Nigerians travel a lot despite the usual inflated transport costs.

This is the main reason why there are numerous transport companies all over Nigeria. The opportunity is glaring and people are investing.

See more >> 10 Best Cities to Start a Business in Nigeria

10. DIGITAL MARKETING:

This is the promotion of businesses and their products and services online and through other digital means. In this era, every business needs the services of digital marketing firms to compete and thrive: thus, they are in demand and they command huge paychecks. Investing in digital marketing is fun as well as profitable.

Read More >> Digital Marketing: 4 small-scale strategies that give great results

Notable mentions include: hairstyling and beauty business, oil and gas, hotel business and so on.

There are many opportunities in Nigeria. If you look historically, what creates wealth is investment. So, invest, make wealth and be happy.

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Chidi Obialor is an easy-going, smart and versatile law student who just loves to write!

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