Nigeria is a country with a lot of business opportunities. There are several needs that has to be satisfied. Our large population provides a large market for any good business or product to thrive.
Businesses that thrive more in Nigeria are those that solve the basic needs of people. They are real day-to-day businesses.
I believe in real businesses. The businesses on the list below are real businesses. They are every day businesses that are often neglected but yielding millions to various entrepreneurs.
1. Garri processing factory – Garri is one of the most consumed food products in Nigeria. The product sells even without advertisement. Most of the people who produce garri do it locally. See more information about how you can set up a modern garri processing factory of your own.
2. Palm oil business – Palm oil has many uses and so many business opportunities can be derived from it. You can set up an oil palm plantation, palm oil processing plant, or get involved in the wholesale and retail of the product. Learn more about how to make money from palm oil business.
3. Primary and secondary school – This is another business that brings in millions to the owners if properly set up. It is capital-intensive, but it is very profitable. See how you can set up your own primary and secondary school.
4. Hotel / guest house business – Although capital-intensive, hotel and guest house business is profitable and it creates jobs. See how to set up your own hotel or guest house business in Nigeria.
5.Transportation Business – People must move from place to place every day. You can set up your own intra-city or inter-city transportation company. See a detailed guide on how to set up a transportation company in Nigeria.
6. Cosmetics Store – This involves the sales of basic and medicated cosmetics like creams , make-up items and beauty products. Cosmetics stores sell a wide variety of beauty products and the market is large.
7. Supermarket store – People love buying from good supermarkets like ShopRite and others for several reasons which includes; buying in a serene and safe environment, buying many things under the same roof, being able to make payments using electronic means like P.OS. machine etc. This business is lucrative but it is capital-intensive to set up a standard supermarket. I have written a detailed article about how to start your own supermarket.
8. Sachet / bottled water factory This is a popular business in Nigeria due to the inadequacy of pipe borne water supply. The sachet water business seems to be getting saturated and has been a subject of discuss and controversy for possible ban due to its contribution to environmental pollution. Therefore, I advise anyone planning to get into the business to also consider the bottled water aspect of it. See how to set up a sachet/bottled water factory.
9. Poultry Farming – This involves the growing of chicken for meat, eggs or both. There is a very large market for poultry products in Nigeria that is yet to be satisfied by the local businesses as most of these products are imported. Other indirect business linked to poultry farming is poultry feeds production. See our article for more detailed information on how to start your own poultry farm.
10. LPG Filling plant – Liquified petroleum gas, LPG or cooking gas filling plant is getting more popular in Nigeria and it is making many people richer day by day. It requires a sizable amount of capital to start-up and there are several requirements by regulatory bodies to satisfy before you can commence the business. However, the proceeds from the business is good. See how you can set up your own cooking gas filling plant.
11. Grocery shop – This is a shop that sells food products and commodities. This business is good because food products are among the fastest selling products.
12. Restaurant – Well established and properly set up restaurants attract more people and make more proceeds for the business owners. If you open a restaurant business, ensure good quality and high standard of the meals produced by employing experienced cooks. Also ensure well set up and clean environment.
13. Auto-mechanic workshop – There are many auto-mechanic workshops scattered around us but only few of them are standard or properly set up as can be found in western countries. Auto-mechanic workshops don’t have to be very dirty, smelly, oily and messy. Auto-mechanics also don’t have to be dirty and wear tattered clothes.
This is a great opportunity that needs to be tapped into. You can set up your own auto- mechanic workshop where you recruit trained and experienced auto-mechanics that will always be in their overalls and use modern tools and equipment to trouble shoot and fix problems in cars. People have to pay for their services to a cashier and there should be a conducive waiting bay for clients that wish to wait for their cars to be fixed.
14. Building materials shop – This business is better set up at developing areas where new buildings are coming up. Products like cements, shovels, trowels , head pans, hammers, wheel barrows etc can be sold there.
15. Barbing salon or barbershop – The services of barbers are always needed. There are many barbershops around us, but what is lacking is standard barbing salons as can be seen in western countries. You can even step up the business by making it a unisex hair salon for both males and females. Men can come to get their haircuts and women can also come to make their hair. See our detailed article on how you can set up your own standard barbershop.
16. Professional car wash – This is one business that also yields good proceeds if properly set up and maintained. The good thing about this business is that it has a low start-up cost. For more details, see our article on how to a set up a profitable car wash business in Nigeria.
17. Catering, decoration and events planning – This business has good market and low start-up cost. See more details about starting and running a catering services business.
18. Car parts shop – There are thousands of cars in our cities and country. These cars develop faults easily due to our bad roads. This provides huge opportunity and market for those that sell car parts. Before going into this business, find out the cars that are mostly used in the locality that you wish to establish the business so as to ensure more patronage.
19. Petrol filling station – This business is a gold mine. I don’t need to tell you that. You don’t need to beg any customer to buy from your petrol station if your flow meters are accurate. However, setting up the business is capital-intensive and you have to meet several requirements of the regulatory bodies. Read this detailed guide about setting up your own petrol filling station in Nigeria.
20. Laundry and dry cleaning services – I love and recommend businesses that has to do with provision of services to people. The reason is because the start-up cost for services businesses is usually low. Also there is very little or no risk of theft. Dry cleaning services business is one of such businesses. You can read our article on how to set up your own profitable laundry and dry cleaning services business.
21. Printing Press – This is a business that is not too common and with little competition.
Printing press carryout printing of books, magazines, business cards, wedding cards, posters, hand bills, flyers.
22. Bakery – Everyday people eat bread. Bread is among the most common food product in Nigeria and even globally. If you wish to go into this business, try to provide a variety of types, sizes and taste. Also ensure and maintain high quality.
23. Pharmacy shop – This is a very profitable business. Many sick people prefer going to the pharmacy shop to buy drugs instead of going to the hospital due to lack of funds. Most pharmacy shops in Nigeria are not owned by professional pharmacists. In many cases, the owners just learnt the trade under an experienced person for several years or months. However, I recommend you can set up your own pharmacy shop and employ a qualified pharmacist to run it for you and do not get involved in fake and adulterated products.
24. Hospital – You must not be a doctor or medical practitioner to open your own hospital. If you have the capital, you can build your hospital and employ doctors, nurses, lab scientists, etc.
25. Phones, laptops and accessories shop – People can’t do without phones. In fact, phones are among the fastest selling products in the market. New models of smart phones are being developed everyday and people will keep buying them and the associated accessories.
26. Power generating sets shop – Until the power supply problem in Nigeria is fixed, purchase of power generating sets will always be high and the people who sell the power generating sets will always be in business.
27. Furniture sales shop – You must not be a carpenter to own a furniture shop. You can buy deluxe furniture and sell in your showroom.
28. Musical equipment and P.A. system sales – Churches and organizations will continue to increase and they will always be buying public address systems and musical instruments.
29. Apartment houses leasing – Housing needs will always increase as the population increases and since the government is not playing a major role in providing housing for people, private housing investors will always be in business. If you have the money you can buy apartment houses for leases or build them yourself. See how to build your own house with little income.
30. Standard tailoring shop – I mean well-organized and standard tailoring shops. I know a tailor that sews only corporate suits. He charges at least #100k to sew one suit. Most of his clients are politicians and rich business people. See how to establish a fashion designing business in Nigeria.
31. Cooking and eating utensils sales – Products ranging from plates, stoves, gas cookers, microwave, cutlery, warmer, blenders etc. can be sold in a cooking utensils shop. People will always buy these household items. As people marry and have their home, they will always need these items for their new homes. These items are always bought as wedding gifts for newly wedded couples. This make the demand for them to be high.
32. Wine and drinks shop – Events are organized every week in Nigeria. Drinks and wine are always served in these events. There is high demand for these products. Most times, those that are into this business usually have a warehouse for storage of the product and a delivery van to enable easy of operations. They also make connections with the majored distributors or suppliers which will help them to get the products at cheaper rates.
33. Boutique – People must wear clothes. Man must satisfy their clothing needs. A boutique sells items ranging from shoes, clothes and assessories. People spend thousands of naira every year in buying clothing items and this makes this business lucrative. See how to set up a fairly used clothing or okrika business in Nigeria.
34. Electrical / electronics appliances shop – Products that can be sold in the shop range from electrical cables for building, stabilisers, electric fans, refrigerators, washing machines, contactors, switches, lighting fittings etc. These are everyday needed household goods and they are highly demanded.
35. Baby/ kiddies wears shop – This business has high demand because, parents give more preference to buying clothes for their children before thinking of their own wears. This shop sells a variety of baby clothing and sanitary materials.
There you have it! Those are the 35 businesses on our list. Don’t get discouraged by the number of people already doing the businesses that you wish to do.The fact that many people are doing it shows that the business is good. If the business isn’t good, no one would be involved in it.
Also, most of these businesses are not done in a professional and standard way. What you should be thinking about is how to step up the game.
Think about how you can add more professionalism, quality , creativity, standard and uniqueness to the businesses and make them better, more attractive and profitable than what every other person is doing.
That’s how entrepreneurs think!
Are you a university or polytechnic student or you have a relative or friend in any higher institution?
If yes, read and share this article with friends, children, relatives and colleagues : 50 Top Business Ideas For Students In Universities, Polytechnics and Colleges In Nigeria. It is a gold mine of information that will help you in school and after school to be financially independent all through your life. Many of the ideas in the article are from personal experience. So, I know what I am talking about.
Still not satisfied?
If you need more business ideas, you can see over 200 unique business ideas for everyone.
How do I raise the capital to start a business ?
You can also join our WhatsApp group to relate with like-minded people about investment, business and money matters.
What are your thoughts about the most lucrative businesses in Nigeria? Are there other highly profitable businesses that you think we have not covered in this article? Let me know using the comment section below.
If this article was of help to you, kindly share with friends using any of the social media platforms at the top or bottom of the article.