There are different types of businesses that can yield very big profits. This kind of business is said to be lucrative. So, today I’ll be talking about lucrative business in Nigeria.
The businesses mentioned here are businesses that move fast because the ideas are evergreen, which means as long as there is life; people will always make millions from them.
Do you want to start your own lucrative business in Nigeria but don’t know the way forward? Well, after reading this article, you should know the best lucrative business in Nigeria. Perhaps, make a choice from the list below.
With the ever growing population in Nigeria, starting a business will be a good move. Though, the business environment is not conducive but with persistence and endurance you can still make it. After all, people are making it big in business here in Nigeria
Today, we shall review few lucrative business in Nigeria. And how we can start them, manage them and make the most from them.
Before going into details of these thriving businesses in Nigeria, I will like to expose you to short cut of making it big in any of the business here.
The top secret is to get a mentor or employ the service of a consultant to help you establish. A mentor or consultant will help you avoid some serious mistakes you may find on the way.
Having said that, let’s take a look at lucrative business in Nigeria you can start today.
List of Lucrative Business in Nigeria
Transport business top my list of lucrative business in Nigeria 2018 because it really worth it.
It’s very lucrative because every minute of the day people migrate from one point to another.
Even when the economy is in recession people still travel and move around in search of means of survival. In other words, transport business is a recession proof business.
It is a business that you can start small and grow it big. All you need is to acquire the basic knowledge of running a successful transport business.
Click here for more details on how to run a successful transport business in Nigeria.
Cattle rearing is one the top hot business ideas in Nigeria you can venture in today. Don’t leave this business for fulanis alone. You can do it. Basically, it is a lucrative business in Nigeria for those at the southern, western and eastern part of Nigeria. Because it involves buying cheaper in the north, rearing and selling high in the south or east.
Just think of how many people eats meat in Nigeria daily. I mean cow meat. It is obvious that any business that involves rearing and selling meat is a big business.
I, personally have done this fast moving business in Nigeria and never regretted it. In addition, you can do this business in any part of the country. Let me tell you how.
Go to your state abattoir and get the details of the Hausa/Fulani butchers chairman there. Tell him you want to rear cow under their supervision. In fact, they will gladly welcome you as long as you’ve the capital to do that.
This business is best done in the dry season. Here is the secret. During the dry season, cows in the north do not have enough grass to eat so they grow so thin even to the point of dying.
During this season, you will get a very big cow for as low as N120, 000 in the north, because there is no grass to feed them. It usually cost between 15,000 and 20,000 to transport it to any destination in Nigeria.
Since, we have all round the year grasses in the western, eastern and southern part of Nigeria, you will have enough to feed the cow(s). After 3 month such cow gets back to its normal size and goes for as much as N400, 000.
In fact, with proper guide, you can make over 300% ROI.
Like cattle, the demand for fish is also very high because of its high protein. In fact, medically, a lot of people have been advised to only go for fish. This hot business in Nigeria does not require much startup.
You can start fish farming on any secured piece of land. Dig a natural earth pond of about 3ft deep and buy fingerlings. In addition, make sure the water in the pond is not contaminated to avoid the fishes dying.
Before going into fish farming, make sure you have some money mapped out for feed, because feeding determines their growth. Above all, their growth determines how much you can make.
This is another lucrative business you can start today. Before, going into poultry you must identify what you really want to achieve because that will guide your decisions. If your goal is to produce and sell eggs then you’ve to go for layers.
Layers are specie that specializes in laying eggs after sometime. Specifically if you feed them with the necessary feed then expect constant laying of eggs after 5 months.
But if your goal is to produce chicken for meat then you can go for cockerel and broilers. Cockerels and broilers mature in a short time. As long as you take good care of them.
Real Housing Estate Agency:
Shelter is one of the most essentials of human being. With the growing population in Nigeria, being a real estate agent becomes lucrative. In fact, you don’t need a serious capital to start this lucrative business in Nigeria.
You can even start real estate agency from the comfort of your home. All you need is a sign post telling people you’ve information on where to get a decent house for rent. You earn through commission.
Tailoring and Fashion Design:
It is obvious that looking good is a good business. Therefore, positioning yourself as a fashion designer is a clear indication you’re in for a lucrative business. Our population is growing by the day, hence the need for clothing.
You must not be a tailor or fashion designer before venturing into this lucrative business in Nigeria. All you need do is to high the services of so many designers out there.
Fashion is one of the evergreen niches in life. So, it will always be and always profitable to do.
Lucrative Business in Nigeria- Wrap Up
All the businesses mentioned above are tied to the basic needs of human. Transport, food, shelter and clothing are our everyday need. Establishing a good knowledge of any of the lucrative businesses mentioned above will definitely make you money. Why not try one today?