Lucrative Business Ideas In Nigeria

 Lucrative Business Ideas In Nigeria

Lucrative Business Ideas In Nigeria, Presently, many people end up investing their time and money in unsuccessful initiatives as a result of the way new firms are growing in Nigeria. Sometimes the lucrative ones might be too difficult for you, while the simple ones might not be appropriate for your circumstance.

Profitability is a crucial factor to take into account when starting a business.

We’ll look at the most lucrative businesses anyone with any amount of capital may start in Nigeria. These profitable company concepts have had great success. They have the ability to make anyone successful if managed well. Without further ado, let’s get started!

100 Best and Lucrative Business Ideas In Nigeria 2023

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100 Best and Lucrative Business Ideas In Nigeria

  1. Taxify/Uber Driver
  2. Agribusiness
  3. Hotel Business
  4. Food Business
  5. Professional Laundry Business
  6. Real Estate business
  7. Car Wash Business
  8. Fashion Business
  9.  Pure Water Business
  10.  Start a Logistics Company
  11. POS Business
  12.  Start a YouTube Channel
  13. Blogging
  14.  Cooking Gas Business
  15.  Furniture business
  16. Oil and Gas Business
  17.  Forex Trading
  18.  Food Restaurant
  19. Dropshipping
  20. Exportation Business
  21.  Rental Service
  22. Affiliate Marketing
  23.  Football Viewing Center
  24.  Open a Gym
  25. Cement Retailing Business
  26. Juice production
  27. Snail farming
  28. Car rental
  29. Mini importation
  30. Tire recycling
  31. Pet breeding
  32. Internet marketing agency
  33. Poultry business
  34. Tutoring
  35. Wallpaper production
  36. Rabbit farming
  37. Cook-on-Demand
  38. Event planning
  39. Car flipping
  40. Commercial cleaning business
  41. Rice farming
  42. Bee farming
  43. Interior decoration
  44. Solar installation business
  45. Ushering agency
  46. Vlogging
  47. Palm oil business
  48. Goat livestock farming
  49. Fish farming
  50. Cyber cafe business center
  51. Phone repair services
  52. Laptop repair services
  53. Day care business
  54. Jewelry business
  55. CCTV installation business
  56. Garri production
  57. Fitness training
  58. Party planning
  59. Sports betting agency
  60. Podcasting
  61. App and software development
  62. Facebook content creator
  63. Metal scrap trading
  64. Vlogging
  65. Professional SEO agency
  66. Small manufacturing business
  67. Catridge filling
  68. Food truck business
  69. Baby sitting
  70. Advertising campaign developer
  71. Security services
  72. Bakery business
  73. Soap making business
  74. Bottled water production
  75. Mobile phones sales and repairing
  76. Cement sales distribution
  77. Shrimp farming
  78. Quail egg farming
  79. Cashew-nut processing
  80. Groundnut processing
  81. Jam jelly production
  82. Catfish farming
  83. Livestock feed production
  84. Organic farm green house
  85. Organic fertilizer production
  86. Cultivation and processing of maize
  87. Soy beans production
  88. Agricultural support and equipment leasing
  89. Cosmestics
  90. Social media management business
  91. Iced block production
  92. Used car parts business
  93. Lemonade production business
  94. food home delivery
  95. Computer training service
  96. Used car selling business
  97. hire purchase business
  98. Tokunbo car selling business
  99. Food invention/recipes
  100. Fish hatching business
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100 Best and Lucrative Business Ideas In Nigeria 2023

1. Hotel Business: 

The hotel sector is one of Nigeria’s most lucrative and successful industries. A substantial portion of Nigeria’s population routinely travels for both business and pleasure. They stay in a hotel there. Visitors to the country also stay in motels.

If you want to succeed in the hotel business, you either need to locate yourself in a less competitive environment or offer better or more reasonably priced services in a crowded market. Your hotels must offer a restaurant and a bar as well as a place that can be rented out for events as an additional revenue stream.

2. Real Estate business:

Properties like homes, apartments, warehouses, lands, and so forth are built, bought, sold, or rented out in the real estate industry.
Real estate is one of the most lucrative industries, both locally and globally.
People will always require a roof over their heads. As long as the population is growing, real estate will prosper. The number of people moving to cities drives the growth of this industry.
There are several possibilities available in the real estate sector. You can work as an agent. seeking rental properties while collecting a fee or commission. Moreover, helping landlords and property owners discover tenants or buyers in exchange for a fee.

Homes in highly sought-after locations might be built and offered for sale or rental. You can also buy land that you can later develop or sell for a profit.

3. Taxify/Uber Driver: 

Interestingly, the transport sector is among Nigeria’s most lucrative industries. You need one specific business. People are always on the move. traveling between cities for employment, to visit a mosque or church, or to go to a mosque. There is always movement. With a population of over 150 million, Nigeria is a lucrative market for this business.

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With little or a lot of money, you can start. You can utilize your car to drive for Uber and earn extra cash. Buy buses, keke-napep, or okada. even planes. Market size and demand are enormous. People are always on the move!

4. Food Business:

Unquestionably, Nigeria’s food business will be among its most lucrative sectors. There is always a need in this sector. Everyone will require food! Regardless of how bad the economy gets, humans can never live without food.
This business has the potential to make you wealthy if managed effectively. Additionally, gaining repeat business is really straightforward. Customers will come back as long as your cuisine is tasty.
If you can place your food business in a respectable neighborhood and secure the required personnel and skills, you can run a thriving operation. This sector operates year-round. It is always in high demand.

Big brands like Mr. Bigg’s and co. are adored in Nigeria. Some of these brands are so well-known that consumers have developed brand loyalty. Any city has fantastic locations where you can open a fast food business with little to no nearby competition. You can submit an application to United African Company of Nigeria (UAC), which owns Mr. Bigg’s, for a franchise opportunity.

5.Professional Laundry Business:

Laundry service is the answer to the question, “What lucrative business can I start in Nigeria with low capital?” This business is profitable and offers the possibility of daily income. You don’t need much in the way of equipment to start a dry cleaning business in Nigeria. This business can be started by anyone in the nation, whether locally or with the use of cutting-edge technology.

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Also, both small and large businesses can be launched in the washing industry. However, it would be preferable to start out on a large scale as you’re probably going to work with influential people who will pay well for your service.

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Frequently asked questions

What food is easy to sell to make money in Nigeria?
Selling vegetables, grains, coconut, beans, cassava, potatoes, plantains, and other goods can bring in large earnings. Africans can profit from the food and agriculture industry as retailers or as partners with farms. Although selling farm products is not a capital-intensive business, it does need a lot of preparation and effort.

Deliver goods. One of the simplest and most accessible side jobs in 2023 is delivery work. The hours you work are easily customizable, and everything is managed through a smartphone app.

Which business can make money fast?

One way to get money quickly is through freelancing, as the freelancer receives payment immediately when the project is finished. The freelancer can choose the jobs based on their interests and skills, and they can guarantee client pleasure with the caliber of their work.

Conclusion

As there are typically businesses with strong needs in Nigeria, untapped industries could make you a lot of money. If you’re wanting to start one, I hope this post’s list of the top 25 in Nigeria has given you additional information.

In Nigeria, many well-known businesses struggle to make a profit, so it is crucial to consider a company’s profitability before beginning one.

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References

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