Top 20 Lucrative Business In Nigeria That Yield Profit In Millions

Business Ideas for Nigeria

Business Ideas / July 9, 2018

Top 10 profitable and lucrative business ideas to start in this present Nigeria's economyREAD ALSO: Check out 8 ways banks can provide watertight security against armed robberies

And also note that the best time to start any business is now, don't wait until the country's economy is balanced. According to Forbes, the best time to start a business is during a downturn here are some reasons stated clearly by Forbes:

- People want innovation

- Downturns give startups negotiating power

-People want to save money

- You will build a lean startup with good habits

- Smart investors wants to invest

They are so many business ideas in Nigeria to start with in this present economy but I will be sharing with you 'Top 10' only, I will confidently tell you that these listed business opportunities will still be relevant in years to come whether be it in a good or bad economy, enjoy!

1. Food Business

Food business is my number one business ideas on this list, reasons because people might not afford the money to buy all the basic things they need in life but they wouldn't go a day without satisfying their bellies.

This type of business is a thriving and profitable business any entrepreneur should think of provided you are a great cook and you have what it takes win people's heart through your meals, why not give this business a trial?

2.Transportation

Transportation is an important key contributor to the Nigeria's economy and the industry is of extreme importance to the mass in terms of moving people from one place to another and also conveying of goods.

It is not everyone that can afford a private car rather they use commercial buses to get to their various destinations. If you own either a truck, mini bus and trailers and you are also interested in this kind of business, then go for it.

it is not a must you should be an expert as a driver but you can hire someone who has more experience when it comes to driving, play it safe when employing any one, good business management, trustworthiness and proper financial recording should be your main priority.

3. Freelancing

You might be hearing of freelancing but you don't know the meaning and how it works?, to make things clear Freelancing is when you are hired to do a job(mostly writing) and you will get paid for it based on the bargained price, you don't have to be committed to one client but multiple clients.

They are so many websites where you can register as a freelancer, sites such as freelancer.com, upworkcom and fiverr.com. You must be extremely good at writing so as to increase your freelancing business's growth.

4. Agriculture

Agriculture is one of the highest key contributor to the country's GDP. Nigeria is a blessed country with so many agricultural business ideas such as poultry farming(which happens to be one of the best), rice farming, snail farming, Fresh vegetable farming, palm oil business, beans farming and much more.

They are so many agricultural business ideas you can choose from based on your area of interest, another solid reasons why you should take this business serious is that Nigerians are increasing in population and most of them depend on farm produce to survive, so the need for agricultural product will also increase as the population increases.

5. Blogging

Blogging is one of the best paying online business as of now, if I am not mistaken? But blogging is not this kind of business you jump into and you want to make money through it over-night, it takes a lot of time before you can make money from a blog let me be open-minded with you blogging is not as easy as you think it is.

One thing I will advice you when starting a blog is to find your passion and also stick to the niche that reflects that passion, once you are a passionate about a topic you wouldn't go out of topics easily. Remember that blogging is a long term business.

6. Real Estate Development

Real estate development is one of the booming, profitable and lucrative business in Africa and Nigeria. The population of every country is increasing day by day due to increase in number of mortality rate, so the need of securing a shelter among various families will be paramount.

They are so many real estate business ideas to choose from such as property management and real estate agent or broker.

This a multi-million naira business here in Nigeria, some entrepreneurs who has engaged themselves in this kind of business has recorded a huge amount of success.

READ ALSO: Those who accuse me of corruption are the most corrupt —Jonathan

7. Fashion Designing

Fashion Designing is the rave of the town here in Nigeria, some Nigerians are known to be heavy spenders when it comes to fashion mostly on the occasion of attending a party, wedding ceremonies and so much more.

Source: www.naij.com