Looking for a good investment oppurtunity to establish your business? We’ve got you covered, as we will examine the top options available to invest in Nigeria. Investing in the country is very flourishing considering the wide market, but only if you venture into the right business option.
Top 10 Best Business Opportunities To Invest in Nigeria 2023
Below, we’ve outlined the best business opening to put your money into;
The Agricultural Sector
Though, the agricultural sector might seem unpopular in this era of white collar jobs, this sector is seen as an affordable business for all and sundry to invest in irrespective of the scale, large or small. Agriculture business is a very perfect venture to invest in the country because of the availability of commercial cash crops like: Rice, Maize, Cassava, Beans, Plantain and Cocoa. The sector to show how lucrative it is in the country, has made sucessful business tycoons. An obvious one is Aliko Dangote who invests in agricultural product like flour and sugar.
The agricultural business also extends to rearing of animals, poultry, pig, and fish. After they mature, you send them to the market for sale. You should note that the agricultural business requires much labour and should be done in a large scale so as to earn much. And, machineries should be adopted to ease stress and increase productivity.
Investing in Real Estate
Real estate business involves purchasing properties, land or buildings and later sell them at an improved price. Considering a developing country like Nigeria, there is much to gain if you invest in this business, due to the ever increasing demand for land and building houses. On the whole, real estate business is very strategic and critical, in that you can’t own properties in a village and expect people to opt to buying in that location.
The location is very important and should be a booming town or city. Gains from places like Abuja and Lagos can never be contrasted with net revenues from Enugu and Benin. This is because of your targeted customer, which the houses and lands will be more attracted to the working class in the cities. Simply make appropriate research before plunging into starting a real estate in a particular town or city. This will make you know the kind of house to erect for those targets.
Taxi driving business is becoming a norm in most Nigerian cities. The popular driving company like Uber makes life in urban areas easy by riding customers directly to their homes and workplaces. Both Taxify and Uber are on the natural way of life in Nigeria and are thriving in the driving industry.
The Taxify business has open opportunities for investment, in that you can work with these driving companies with your cars On the off chance that you are less capable to have more than one vehicle, you can enlist with both of the organizations and recruit a driver to work for you.
Putting Resources into FGN Savings Bonds
You might have heard a glimpse about this but you are still not sure of it. This Bonds is a retail venture program brought by the Federal Government, and is intended to give Nigerians of all pay levels the chance of adding to national development and improvement by loaning cash to the bureaucratic government. It is additionally planned to make investment funds alluring to the average earning Nigerian.
In putting resources into FGN reserve funds, you can put as low as N5,000 up to the maximum of GN50,000,000. The Bond time length is few years and essential closeouts are directed on a month to month premise.
Invest in Stocks
This business involves buying and owning company and business shares. There are numbers of good organizations to place cash into and purchase shares from them. By owning a share, you are entitled to the loss an profits of the firm, and if it turns out tremendous, you have more money from it.
The odd disadvantage of investing in stock and shares is due to the fact that it limits to rich businessmen. When buying a share, you will need to pay huge to get the shares completely, and this sometimes discourage many.
With the world in a computing sphere, Nigeria has been much impacted and is seen by Statista as one of the fastest developing ICT users in the world. According to the report, about 76.2 million people in Nigeria use the internet. With this numbers, the possibility of ICT businesses to thrive cannot be underestimated.
People and businesses should include themselves in Information Communications and Technology Services (ICTS) as it’s becoming a booming thing in the country. This new economy doesn’t expect somebody to be in a particular area to offer the ICT services, rather they can be found anywhere, so far it supports the business.
Starting a Television and Radio Station
The radio and television station business is another option to consider in starting a business in the country. This is because of the supportive broad communications industry network in the country, adding with lots of audience. One of the advantage of this business is that its independent of an area, i.e. you can set up the station in a town or city and through the wireless network, your signal will reach even the interior villages.
The requirements for these businesses is for you to figure out the assets for a permit and the equipments to run the TV and Radio station. We may advise you to consider a radio station first, due to the less cost in starting it. Also, the TV stations ia less popular nowadays except its on DSTV, Startimes and other television network.
Treasury bills is a short-term investment security offered by the government that yields no interest but meets borrowing requirements in the country. It remains one of the the best option in business as it’s the most secure type in Nigeria since it has less possibilities of losing your cash and its managed and protected by the government. So thats a good investment option but it involves much money to invest.
Mini Importation Business
This is yet another field you should consider in setting up an investment. The business involves importing goods and products from where its produced, to sell in Nigeria. How this business works is that, you will buy the product there at a cheap price, and then sell in Nigeria when the price will be high. Though there is much to gain in this business irrespective of the area you deal in, but the transportation cost, clearance fee and the capital to set are the hitches to overcome.
With under N700k, you can begin bringing in items from producing countries down to Nigeria and makeover half 120% benefit depending upon your specialty. There is much profit to gain in the importation business, but its determined by the product you go into. Phones & gadgets, electronics and wears are the niche which are lucrative you should venture in.
With the country’s population up to 200 million and still increasing, there is much need for manufactured products to serve the populace. You can begin a small business like: producing sachet/table water and also making of eateries like snacks. The large scale one is to manufacture products like paints and sheet metals.
The agricultural sector is an intriguing sector to delve in, due to the enabled environment set up by the Nigerian government. Its good to know that they are offering motivating forces for producers who locally source their crude materials, which the agro-manufacturers is involved.
The manufacturing industry is a good investment itself. This field requires work of engineers, especially mechanics to build, install and services the machineries that will be on work.
Also, the investment need huge capital, and if commenced, it will augment a profitable enterprise.
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Wow this is a good one