Top 10 Business Ideas To Make Money In Nigeria 2020: A Must Read
The year 2020 has just begun and the earlier you get to know those business ideas to make money in Nigeria the better for you. The world today all about gives and take, so you need to have something that something is willing to pay for. You don’t “fold” your hands and wish to become Dangote overnight. There are certain things that you must do.
With the population of Nigeria rising every year, there is a large market for you to sell your products. The question is- what are you selling? It is not enough to have a business you are doing, the main thing is for your business to satisfy a major need.
Also related: How to source funds for your business in Nigeria
It is quite obvious that making money is not easy, no matter the way you look at it. As more and more graduates saturate the labor market, unemployment has been on the increase. The best thing for you is to put your mind down to discover those untapped businesses in Nigeria. There are hot business ideas in Nigeria but are you willing to give any of them a try?
This article is about listing top lucrative businesses in Nigeria. Although the list is “endless”, I have limited it to only ten. You can also carry out your research and come up with more business ideas to make money in Nigeria.
Whichever one of these hot business ideas in Nigeria that you decide to go for, ensure you have the mental resolve to see it through. Starting a business is one thing and building it to success is an entirely different ball game. So, the life of an entrepreneur is not a stroll in the park, you have got to do the work.
10 Business Ideas To Make Money In Nigeria In 2020
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Agriculture
Food is an essential need of man for which he cannot live without. When you talk of business ideas to make money in Nigeria, agriculture is certainly on the vanguard. It might be livestock, poultry, or whichever one you would o for. One thing is very clear; there is money in the agricultural business. You might say it is stressful or cost-intensive. Well, making money is stressful so you have got to deal with the stress.
If you say it is cost-intensive, what stops you from starting on a small scale and then expand from there. It is all about planning and execution. Develop a good plan and work with it.
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Event planning
In Nigeria today, there is hardly any day that goes by in your environment without one celebration or the other. What are you waiting for before you can leverage such an enticing business opportunity to become an event planner? Like every other business, it requires capital to start and you will need to have an online presence.
Having a complementary card as well as an office location can improve your event planning business. This is one of the untapped business ideas in Nigeria and very few people are already into it and they are earning good money.
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Mini-importation business
Yes, you can make good money from starting a mini importation business in Nigeria. The good thing is that you can start this business with as little as #20,000. If you check through the internet, you will certainly see eBooks and other materials on how to start mini importation business in Nigeria.
You can start with items like shoes, clothes, wristwatches, second-hand phones, etc. we have an article on how you can start mini importation business in Nigeria. so you can check it out for more information and direction.
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Start a transport business
The transportation business is a very good business idea to make money in Nigeria. If you have your own car and have good knowledge of the transport system in Nigeria, there is nothing stopping from making money from it. You could choose to hire a driver or do the driving yourself. Although it involves good capital, it is one of the hot business ideas in Nigeria that you can explore.
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Dry cleaning business
Talking of business ideas to make money in Nigeria, you can’t ignore the dry cleaning business that is rising gradually. When you are want to start this business, target people like bankers, corporate workers, businessmen, etc. These set of people always patronize dry cleaners as they are always too business to do their laundry themselves.
Establishing your shop within such an environment will greatly fetch you customers and money.
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Selling and printing of recharge card vouchers
Virtually everyone adult in Nigeria makes use of mobile phones. This makes the printing and selling of recharge card vouchers a very lucrative business in Nigeria. It requires little capital to start and you can make good money as the market for selling these vouchers are ever-present. In order to make good profits, it is best to start selling these recharge cards in bulk.
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The cooking gas business
The cooking gas business is an untapped business in Nigeria and you can venture it for good profits. Most people are so interested in petrol that the cooking gas has been overlooked to a great extent. With the right and necessary business arrangement, you can supply cooking gas to retailers or you can serve as a retailer to serve the end-users. You can start small and then grow your business with time.
Also read: How to build your business network
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Restaurant or food business
The food business is an ever profitable business venture that you cannot run into a loss unless there is something out of the ordinary. Irrespective of the poverty state of Nigerians, they will always eat food. This is a business that you can make good money from, provided you run it very well. If you cook good food, your customers will always be back for more.
To start this business, find a good and busy location, and acquire the right skill and personnel.
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Blogging business
When you talk about business ideas to make money in Nigeria, blogging has definitely earned its place on the list. Nowadays more things seem to be done online than offline. Most bloggers make money through a direct advertisement, ads, affiliate marketing, product sales, sponsored posts, partnerships, Google AdSense, and many more.
It will interest you to know that high-end bloggers earn about #20 million on a daily basis. To start your own blog post, it can cost you between #25 000 to #30,000 on a yearly basis.
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Real estate business
One of the most lucrative businesses in Nigeria is the real estate business. People will always need a roof over their heads. With the continuous increase in the Nigerian population, the real estate business will always be profitable. With the movement of people to the city, this business will always keep booming.
The real estate business has lots of opportunities and you can work as an agent, develop properties, or invest in lands.
Whatever business you venture into, make, put in your best and watch your business grow. Don’t just rush into any business without doing your due diligence. Get the necessary information about the business and then make an informed decision about the business.
