If you've got like N500k to N1m, you might be able to start up a
small business comfortably in Nigeria but if you've got like N5m to
N100m and above, there are actually some cool businesses you can do in
Nigeria too..
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Here is my list of some 5 big businesses one can do in Nigeria
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1. Real Estate Investment
Investing in real estate has always been profitable in Nigeria except
during the civil war when people lost some of their homes. Land is
abundant and at cheap rates too but there is scarcity of housing for the
masses of people who mostly live in the urban areas. People who have
got capital and invest in housing in Nigeria mostly make back their
capital via rent in about 10 years or immediately after outright sale.
Housing provided in cities are more likely going to cost more than those
located in villages. Also the issue of security and infrastructure is
important too. When buying land for real estate investment, one should
make sure to get a certificate of occupancy before going ahead with
major construction.
2. Mechanized Farming
One popular one is
Cassava farming. You can also try egg production, fruit farming and so
on. Prices of agric products keep rising in the market due to scarcity
and inflation in cities. Due to export of cassava products to China as
well as cassava flour requirement in bread production, more companies
are going into cassava farming, processing and packaging. Other products
that sell well are yams, pepper, tomatoes and poultry. There is
abundant land in Nigeria for farming and most of it is located in the
rural areas.
3. Packaged Water Production
The world is
getting warmer and more and more people in Nigeria do need good
drinkable water on a daily basis. Nigeria is one of the few countries
where people actually have to buy drinkable water. Drinkable water
doesn't run in the pipes and you can make money offering this
charitable-like service. Your products can be satchet or bottled water
and who knows, you cna also start your own brand of mineral water. Mind
you, you would need a good piece of land with a factory setup in a
non-toxic environment and well drilled borehole. You'll also need to get
NAFDAC approval and SON inspection after you've set all up.
4. Movie Production
There is a hug market for Nigerian movies both home and abroad and you
don't have to spend too much to produce a movie. Most movies are mostly
for home video although the trend is shifting a bid for cinema sized
videos. You can get new or old faces, get the movie script, shooting
crew and producer, choose a location and kick start your movie. You will
own rights to your home videos on VCD, DVD and the internet. You can
even sell movie rights to Paytv providers like DSTV and Startimes.
Even if your small or big budget movie doesn't make an immediate sale on
the dvd market due to pirates, you can also try the Youtube option
where companies like Nollywoodlove are making millions from Google by
simply publishing Nigerian movies on YouTube.
5. Educational Institution
Running a school is big business. Prices for school fees keep
increasing yearly and you don't have to be a graduate to own a school in
Nigeria(But a B.ED can be helpful). Just get a good land, install
buildings, get the right staff, get the operating license and do some
marketing and you'll see school students trooping in. There is a big
market even fro day care centers and who knows, you can
expand to a secondary school. Your money comes when you charge per term and there are 3 terms in a year.
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