Here are some of the latest business opportunities in Nigeria that any entrepreneur both home and abroad who really wants to do good business and make money must seriously give a thought. Some of them are never seen before while some are well known but not yet fully exploited. Whichever way, these businesses is guaranteed to make solid income for you.
Nigeria’s business landscape is improving day by day despite the obvious setback of infrastructural deficits in the country. A lot of Nigerians abroad are coming home to invest while foreigners are equally showing faith in the countries economy by bringing in new businesses on daily bases.
The CEO of Shoprite the South African retail giant once said that Even if 60% of Nigerians are living below poverty, the remaining 40% is still bigger than the entire South African population.
|View of Lagos Island Nigeria from Third Mainland Bridge|
Therefore, despite the inadequate infrastructures, political and social crises, Nigeria still remain Africa’s brightest and best destination when it comes to investment. This is the time for you to start a business of your own in Nigeria if you haven’t done so. Even if you have, you can as well diversify your investment portfolio by taking advantage of some of these latest business opportunities in Nigeria right now.
But one thing I have noticed about Nigerians especially those in diaspora is that they are always rave of the moment, they merely react base on spur of the moment and quickly disappear into oblivion. They will come to this site, see business opportunity they like and quickly got ignited like fire. Some of them will want my number and swear they will be in Nigeria next month to start business.
When they come, you wouldn’t hear anything from them neither will they setup any business. The merriment and praise worship they get from family and friends will carry them away so much that they begin to feel like a demigod and wouldn’t remember anything called investment again which was the actual reason they came home. They will finish all the money they brought home making merriment with family and friends and eventually have to go back empty handed without starting any business.
You need to come home and invest or risk loosing everything in life! You never can tell when the big brother will come calling and when that happens, you may risk loosing everything and returing back to where you started. So, now is the time to spread your eggs into multiple baskets and in case you are ready to do that, below is some of the latest business opportunities in Nigeria right now.
1. Entertainment Business
If you are experienced in show biz and understands Nigerian entertainment industry very well, there are so many business opportunities available in the industry that are yet untapped.
Talent Agency – I wrote article recently on “How to become a Nollywood Actors/Actress“. During the course of my research, I was so surprised to discover that there are no Talent Agency in the country and so many people are looking for it.
Talent Agency is a multimillion dollar business in other countries who entertainment industry is not even as buoyant as that of Nigeria. You stand a chance to make money and name for yourself if you can take time to understand how it works and invest in it. And you will help save many youths who are looking for how to express their talents from the hands of fraudsters.
Record Label – Up till now, there is no serious record label in Nigeria. Each artiste have his/her own record label and I think this is as a result of lack of professionalism in handling record label. If any investor could come in and raise the stake very high, artistes will see it as a serious business and the temptation to establish mediocre record company by just every artiste will be minimized. This is another billion dollars business that should be given serious thought.
Film Production – I like the way MNet is raising the bar in Nollywood with Tinsel. If any serious investor could take that standard into Nollywood proper, I guarantee it gonna be a mega million venture. Film production is still at the mediocre level in Nigeria, that’s why most of us aren’t watching those crap.
Come in and invest in film production with good scrips, good story line and excellent cinematographic final production and you’d be surprised at the turnover you’ll get.
Film/Music Distribution – Look at what Jason Njoku is doing with Iroko partners in music and film distribution, turning in millions of dollars every month and still going strong. Who believed such opportunity exists there until he exploited it? You can do the same in many other ways, just look deep and you will discover the opportunities laying in film and music distribution business.
The Idumota marketers has refused to up their game due to ignorance.That could be an excellent opportunity for you to create million dollar business in this sectors but you need to move now.
Others – Show promoters, entertainment bloggers, recording studio and recording equipment leasing company are equally making untold amount of money in their respective businesses, giving testimony to how profitable entertainment business in Nigeria has become and it can only get better.
2. Online/Internet Base Business
What usually come into your mind whenever you hear online business in Nigeria? You think of some scrappy one page eBook sellers in a blogspot.com website?? You think of those “How I am making 7-figures monthly doing nothing” internet marketers? Well, internet business in Nigeria has since gone beyond that and is now a mega million dollar industry.
E-Commerce – Who believe that Nigeria could buy stuffs online until Jumia and Konga came into the Nigeria’s eCommerce sphere. E-Commerce is one of the latest business opportunity in Nigeria that is making serious and experienced entrepreneurs serious money. I heard that Konga recently moved into their newly build 150thousand square meters warehouse.
I also heard that Jumia.com.ng is making over N50 million profit every month. But one funny thing is that these businesses are not owned by Nigerians. Though the CEO of Konga is a Nigerian, I heard that the business is actually foreign investment or direct partnership with foreign investors. If foreigners are seeing the opportunities in Nigeria’s eCommerce, why not you? OLX Nigeria and TradeStable are doing extremely well with their online marketplaces.
Online Video Sharing – Google through YouTube recently opened door of great opportunity to the Nigerian content creators but like every other business opportunities ever come our way, a Nigerian will never see this nor believe in it until it is too late.
Because of the great potential I saw in this business and the result I am already getting from our own channel, I recently organized a training program to give professional tutorial and guide on how to do the business effectively. Despite the publicity we gave it, very few people turned up? Why? because people don’t believe in opportunity when it’s still new. That is where smart entrepreneurs excels; they spot opportunities long before it becomes a public news.
Blogging in Nigeria – This is not for everyone but if you think you can do it very well, then give it a try. Can you write a unique article like this (articles that is 100% original) in an ongoing basis? If you can, you may as well be a potential blogger. But it’s not just enough to answer yes – I have seen so many people who answered yes when the question was thrown at them fail woefully at the end.
Blogging is one of the finest and latest business opportunity in Nigeria for those who are good at it and patient enough to reach the stage where the money starts flowing in.
Invest in Startups – You may not be good at Software and Apps development, you may not know a jack about Coding and Web development, but you have the money. There are startups with bright internet business ideas looking for seed investment. Look for some of them and invest in their ideas, you will be amazed at the revenue when it starts coming. People who invested in Facebook and Google at the early stage when nobody believed in them are now billionaires.
Internet business in Nigeria is beginning to take shape. Investing in Internet Startups in Nigeria is certainly one of the latest business opportunity in Nigeria. Please, don’t go contacting Startups with N50,000 because Internet business in Nigeria has gone beyond that. You must be serious and ready to invest millions.
3. Hospitality and Tourism
As Nigeria is developing so is the hospitality and tourism industry and therein lays great business opportunities that is suitable for both big and small investors.
Hotel Leasing – This is top business anywhere in the world; so good that even most big name hotels are operating on lease. It’s not all the time that the structure is actually built by the hotel that operates them. Now, this is where the business opportunity is:
|Hotels in Nigeria|
There are many hotels in Nigeria with good income potential but badly managed, and some of them are in dilapidated condition. You can lease these hotels and turn them into money making machine.
Amusement Center – You know how fun it is to be in amusement centers? But what you don’t know is how profitable the business is. The demand for fun centers in Nigeria is currently on the increase, making it one of the latest business opportunity is the country right now.
Other Business Opportunities
Different aspects of Farming
All these are latest business opportunities in Nigeria that anyone who is looking for business to invest into most not overlook. Our next article will take closer look at some of these businesses I have mentioned. Keep following us to see more ideas as they unveil.