1. *Boutique Business*
Despite the hardship that may loom in Nigeria, people just love to look good. You can therefore, cash in on this and start a boutique business. You will need to determine where the things you want to deal in would be sourced from. The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. The industry is defined as single-establishment stores only.
2. *Real estate Investment Business*
Real estate investment is a very attractive avenue for wealth building, as there are few other business opportunities where the potential for income is so high. However, it can be a very risky endeavor to step out on your own and jump into a volatile market. Navigating the financial and legal issues surrounding real estate investment can be an incredible hassle. Still, thousands of people are doing it every day and the smart ones are coming out on top.
3. *The Stock Market*
Of course, there is the inherent risk of heavy losses, but the stock market is fairly lucrative if you make good stock bets. Before deciding on what stocks to buy, study the company’s short and long-term progression, talk to your stockbroker, a financial expert, or even a friend that’s been trading successfully in the stock market for a long time. With the right predictions, investing in stocks can make you a millionaire.
4. *Mobile Phones*
Retail or online mobile phones store owners millions from just selling mobile phones to the ever-growing Nigerian market. Companies like SLOT have the goodwill, the largest customer base and the money from just selling phones. With a popular and lucrative small business like this, you can try out various marketing strategies like offering mobile phone deals to entice many more individuals to patronize your smartphone business.
5. *Educational centres*
Nigerians (especially those who can afford it) take education seriously. The typical sequence is Daycare Centres, Nursery schools, primary schools, secondary schools, and universities. This is definitely one good investment potential for any entrepreneur. What more, you can decide to invest in the non-traditional education sector like special education, adult education, educational websites, educational technology, and even educational resources. There is a very wide scope to cover in this industry to keep the bucks coming in.
6. *Agri business*
With a population of over 170 million people, Nigeria has one of the largest market for agri business in Africa. A population explosion in the next few years has been predicted, making the agribusiness industry a more lucrative business option to consider. Already, many sub-sectors of the industry like poultry farming, fish farming, farming, cassava farming, palm oil farming are already churning in millions for successful farmers in their fields. There are thousands of small business ideas in agriculture to venture into.
7. *Social media marketing*
Utilising social media to its fullest potential can propel a business to the next level — if done correctly. Yet the world of social media marketing is still new to many people and is constantly evolving in Nigeria. A lot of businesses today who claim to be social media experts have consistently made these mistakes without taking a look at the effect it has on their brand.
So, entering the digital world can be intimidating to those looking to expand their online presence. For business owners who aren’t interested in handling social media marketing themselves, outsourcing is an option. And providing these social media services to other companies can be a business in itself.
8. *Freelance Content Development / Ghost Writer*
Do you consider yourself a wordsmith? Setting yourself up as a freelance content development could prove to be a side-hustle or maybe even a full-time job.
Companies in Nigeria such as media agencies, blogs and startups will pay big time for someone who can write a clean copy of contents, whether it’s for advertisements, websites or blogs. Some will even pay you for your editing services. However, consider how much work it takes to make freelancing work your full-time gig.
9. *Small Chops Food Business*
Starting a small chops food business is a lucrative business idea in Nigeria. Nigerians desire for light meals like small chops has greatly increased in the past years. Aside from big events like weddings, funeral and birthday parties, small chops are also the preferred choice when gathering friends for a get-together, boat cruise and a time on the beach.
The great thing about small chops is that even though there are a lot of people offering this service, there certainly won’t be a shortage of demand. The key to being a successful small chops business owner is creativity and packaging.
10. *Driving for Uber*
There are many different reasons why people choose to drive with Uber. Some do it for the freedom to drive when and where they like. They’re the boss, and they work for as long or for as little as they want, following a schedule that suits their needs. An average Uber driver earns within 80,000 – 120,000 Naira a week. Driving for Uber is one of the most lucrative business ideas in Nigeria right now. It does not only give you the opportunity to work when you want (including nights or weekends) but also give you the ability to earn some extra cash while doing so. While some drivers are doing this full-time, some only do it at nights after day job