If you want to earn more than one million a year you should choose an area of your business very carefully. Here are 10 lucrative businesses in Nigeria you can invest your money and be sure of making millions back.
Electronic commerce is the easiest kind of business to start. The best thing about the e-commerce is that you have already millions of online “customers”. You just need to turn them into buyers of your products.
2. Poultry Farms
This kind of business is very lucrative. Even some foreigners are coming to Nigeria to invest into it. If you start with a farm of 1,000 chickens and will develop it properly, you will be earning nearly N30 million annually
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3. Second hand clothes
Many Nigerians prefer to buy used clothes of good quality instead of cheap fakes. The cost of importing used cloth is very low, which guarantees good turnovers of your investments.
4. Snail farms
These farms are quite popular in Nigeria. They need low investment to start and don't need any special equipment. But the area is big, as well as the market.
5. Fruit juices
Nigerians consume more fruit juice than any other people on our planet. This business is tough and it needs big starting capitals, but if you are able to afford it – it is totally worth it.
6. Oil and gas
Our land has great deposits of oil and gas. So the land itself presents the best opportunity for its citizens. Some finest businesses in Nigeria started from owning of petrol filling stations or gas logistics. These areas are always good for making money.
7. Professional car wash
The main thing in this kind of business – good management and a right place. Try to choose a strategic place for example in Lagos or in other city overcrowded by cars.
8. Construction materials
House construction is on its peak now in Nigeria. So if you will manage to become a local dealer of construction materials it will surely bring you some good money.
9. Rice farming
There is never enough rice in Nigeria. That's why government imports it from Thailand and China every year. You should prepare to invest hardly in good labour and farming itself, but the result is worth it.
10. Hotels and estates
Business with property is probably the biggest opportunity to make money in Nigeria. Invest in a small hostel or a mini hotel. Also, you can just rent some property. And then you will see how the money flow in.