Here in this post, we are going to bring to you 50 Most Lucrative Business Ideas in Nigeria. We hope you cssh in on this wonderful opportunity.
People have always inquired and asked about things they can do to make money in Nigeria. Various websites have given their own opinions about businesses that can be very lucrative to start in Nigeria.
Starting a business in Nigeria has been the major way of people getting on their way to financial freedom, as the country has little or no jobs for the graduates and unemployed, so we all look ahead for any suitable business that can be done to aid our survival.
Read Also: 20 Best Home Based Business Ideas in Nigeria
People have moved from the thought of doing business just for survival to making millions, starting a family, buying cars for themselves with business.
But one fact about business is starting the right business for your location and with the available resources. Good management is also another factor or ingredient necessary for a business to go on well.
Read Also: 50 Untapped Business Ideas in Nigeria
How Profitable is starting your own Business
Doing your own business has been said to be the best way to financial freedom in this country and I totally agree with that statement. Business gives its great advantages which outweighs the little disadvantages.
As a business owner, you have time for yourself. You decide when to go to your business. You become a creator of jobs. You provide the needed goods and services which the populace looks out for.
Business also serves as a source of income and livelihood to the business owners. Business is more profitable than most paid jobs in Nigeria.
Before you can get a good paying job that will allow you to go work when you want and leave when you want, you might have spent over 20years at the work. Imagine spending just 10years in a business of your choice, you will find out the efforts to be rewarding.
In this article, I would like to show you 50 lucrative business ideas that you can choose from and grow over the years. There are over 50 businesses you can choose from, all you need to do is to find out what such business entails and how to go about the start-up.
Best fact about business is the various stages of the business; start-up, managing, grooming/growing, expanding and maintaining. It goes by stages, you cannot move from start-up to maintaining, your business has to follow stages.
50 Lucrative Business Ideas
1. Poultry Production
Going into the production of chicken meat and eggs for human consumption is one lucrative business which serves a lot of purposes. Many individuals eat eggs and chicken meat, thereby making poultry production a lucrative business.
2. Frozen food Business
Not everybody has the strength to buy a live chicken or fish, kill it and prepare it for cooking. Places like Abuja, Portharcourt and Lagos are places where this business is more lucrative.
3. Eatery Business
You may need a cool place to take your loved one out, you may need to go on an outing with your kids, your family will like to have a family outing or you were so busy you couldn’t make food to eat, the best place for you is an eatery where you have various varieties of food and snacks to choose from.
Places like Mr.Biggs, Tantalizers, The Promise and West Fries etc are all eateries and they are making good money from it.
4. Foodstuffs Business
This is another business that you can do comfortably, as many people look for where to buy foodstuffs like rice, garri, semovita, tomato pastes, beans etc. People into this business are making good gains from it daily.
5. Snail rearing
Many people do not know that rearing snails is a big business venture which can bring in millions in a year. With low start up capital you can be sure to make millions by the time the snails are mature.
Read Also: 50 Good Business Ideas to Start in Nigeria
For any celebration or event especially weddings and birthdays, people patronise a photographer to help them capture good memories. A good photographer with a studio could be making great profits weekly, just staying in the studio.
Bloggers are everywhere and they are making good money by sharing and providing information online for their readers.
It is a business that takes time to grow and perfect, but once you have gained good number of followers with appropriate monetisation techniques, you are going to be rolling in millions.
8. Catering Services
Gone are those days that people just gather some aged women to prepare food for their events. Now it it is a caterer that is called to handle the cooking of food for the events. Now catering services is a top notch business everywhere.
9. Water production
The sale of pure water is one business which will continue to bring gains for anyone into the business anytime any day. Lots of bags of water are being sold daily in shops and on the roads.
10. Mini-Importation Business
Mini-importation involves the buying of goods from foreign markets and selling them here in Nigeria. It is not just every good that is bought, but those products that are hard to get in Nigeria but cheap abroad, so they are bought and shipped down to Nigeria and sold to customers, sometimes for twice the price.
11. Transportation Business
Going into transport business is now a major direction for business, with the incoming of uber and taxify, the transportation business just got better.
12. Day-care Centre
Many working class parents do not have time for their new babies, so they opt for using day care centres for their kids.
13. Match viewing Centre
We all have football lovers around us, brothers, fathers, uncles, boyfriends. They love to watch football matches. Even those who have cable decoders still prefer to go to match viewing centres.
14. Sport betting
Setting up an agent shop for any of the betting sites is another lucrative business. The number of sports lover who like to bet on their favourite team to win is gaining upper hand.
15. House cleaning services
You can set up your own house cleaning agency, to meet up with demands of people who need a cleaner in their homes due to lack of time and busy schedules at work.
16. Event Planning
Many want to have a great event planned out, instead of taking hteir chances in the planning of the event; they prefer to get an event planner to handle it for them, especially weddings.
17. Video game Business
Lots of young people spend lots of money going to game centres to play soccer or adventure games. Opening a game centre is another lucrative business to go into.
18. Dry cleaning Business
Just washing and ironing clothes for clients is another good way to bring in steady income for you.
19. Carwash Business
Lots of business men and top working class folks do rarely have time to wash their cars, so they take it to a car wash to help them clean it. Most car washers charge about 500naira for a car.
20. Dog breeding business
There are people who love to keep pets, especially dogs, either as a pet or for security purposes. If you are good at training dogs, you can start a dog breeding business, selling puppies to buyers for a good price.
21. Animal feed production
With the rate at which people go into livestock production, feed producers may not be able to meet up with their demands.
Lots of people are into the animal rearing especially poultry. They need feeds for their livestock; you can invest in this business for a good gain afterwards.
22. Home Tutor
Starting a home tutor business is something people look down on. If you are very intelligent in a particular subject or course, you can start this business.
I tell you the business is lucrative. I have a friend during my service year, he finished serving and didn’t go back home after service, he is very good in Chemistry and Physics, so even before he concluded he’s service year he started some tutorial classes.
Now that is what he does to sustain himself since April 2018, He gets paid over 60,000naira per month to teach secondary school students and undergraduates Physics and Chemistry.
23. Cat fish farming
Many people love to eat cat fish, so rearing of catfish gives you a chance to serve the teeming needs of catfish consumers.
24. E-commerce Business
This type of business has no barriers to entry, with even a little capital; you can easily start your own e-commerce store. You just need to know suppliers of goods you want to sell and make them get the product to the customer that places the order for it.
People consume bread on a daily basis, so setting up a standard bakery will not be a bad idea for you, as you are sure to get good profits from this business.
26. Barbing Salon
Every guy love so look cute and handsome, the barbers are the ones behind a good haircut, so getting to learn the skill of barbing and starting your own barbing saloon is a good way to make good money.
Everyday buildings come up every day on different streets in different locations. The finishing touches given to a house is the painting. Being a good painter can earn you some good money. Some painters do earn more than salary earners by just painting a house.
28. Web Designing
This is one business people do neglect for a select few to handle; there are few web designers in Nigeria. Despite the fact that many websites spring up daily. This is a good business to invest on.
29. Fashion Design
The making of clothes for people to wear both on casual days and on occasions is now a hot cake, as people do attend weddings almost every Saturdays. The business is now a hot cake in Nigeria.
30. Fast food centre
This is where people can get such fast meals to eat before going to work or during lunch break at work. A fast food centre is always selling food almost every minute of the day. So long as you are in a busy area and your food is tasty, you are sure to make good profits daily.
Travel Agency business
Gym and Fitness centres
Real estate Agency
Female Hair Stylist
Phone sales and repair
Sale of cosmetics
Mobile food vendor
Sales of building materials
There are various other businesses one could go into apart from the ones listed above. If you are thinking of business to embark on, you have seen the right article and now you know which to choose.Click here to see the latest Study Abroad Scholarships and Guides
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