If you are a Nigerian living in Nigeria or the diaspora or even a foreign investor looking to invest in Nigeria but do not have any Nigerian business Ideas, look no further! In this post, I will detail Nigerian business Ideas that can make you rich.
Before we delve into this subject deeply, it is crucial to note that not all businesses listed here will work for you. You may not be interested in some of them. However, I will always recommend that before you choose to venture into any business, ensure you have a basic understanding of that business. Even if you don’t, be sure it is something you can easily learn.
5 Business Ideas In Nigeria That Will Make You Good Money In 2024
In no particular order, these are some Nigerian business ideas that can make you massive move in 2024 and beyond. Take your time and go through each of these with an open mind. Apparently, you may find one that will interest you and make you some serious money.
1. Preschool Business:
According to reports from the United Nations, about 20,000 babies are born in Nigeria daily. Nigeria has 36 States and the FCT. If we divide 20,000 by 37 “states”, we have about 540 children born in state daily. The need for the preschool business cannot be over-emphasized.
With the way the Nigerian economy have become, in most families, the husband and wife have to work to make ends meet. This will give them little or no time to care for their babies.
Some parents are willing to pay up to half of their salaries to ensure their babies are well taken care off while they hustle for their daily bread. This makes this business a lucrative one especially in towns and cities.
Parents pay as much as N300,000 per child to some schools for this service. So, consider this business idea if you want to do business in Nigeria and make good money.
2. Logistics Business:
With the rise in online sales, the logistics business has become a really lucrative one. So many businesses depend on this business for survival. This is one of the Nigerian business ideas that will make you steady money and if scaled properly, you can build wealth.
Regardless of your financial strength, you can either start small or big. With just one motorcycle, you can make anywhere from N10,000 and above in daily profit. As you grow bigger, you can in more bikes and even trucks. Do not sleep on this business idea.
3. Laundry Services:
This is one of the lowest start-up Nigerian business ideas. You can start with very little and grow from there. You don’t even need to get a shop to get started. You can start from your home. A lot of people are working so hard these days, and do not have the time to sit and do laundry even on weekends. The smartest thing for them is to trade their time some money and that is where you come to play.
This service is getting higher demand by the day. You want to position yourself in this business path and build a solid brand. You never know, you may become a household name in no distant time.
4. Car Wash And Bar:
A lot of people have no idea how much money can be realized from this business if properly sited and and well managed. Given the dusty and sometimes messy situation of our roads and environment, car owners can hardly go 2 or 3 days without giving their cars a thorough wash.
Siting a car wash together with a Bar is a smartest Nigerian business ideas I’ve seen lately. While people are waiting for their cars to be washed, they was want to chill with a bottle of drink or more. This happens effortlessly and offers you more money-making opportunity.
It is very easy to manage and not very capital intensive to start. Look closely and attempt this business if you want to make decent money for yourself.
5. Short Let Apartment Business:
This is a cash cow! If you learn and understand this business, you will be rich. Off all the Nigerian business ideas I have ever considered, this tops the list for me. I have studied this business and also helped someone establish this business. It is a sweet business, however, it is capital intensive.
If you own a house, you can use it. Even if you don’t, you can rent an apartment, furnish to taste and promote. You can choose to promote it your self or list it on Airbnb.
As I already mentioned, this is capital intensive business. Furnishing the apartment you want to use is no joke. You also need to have a budget for promoting the business daily to ensure you are fully booked almost every time.
In this business, you can make between N50,000 – N150,000 per night if you are properly sighted and with good facilities.
How To Get More Nigerian Business Ideas
If the Nigerian business ideas listed about doesn’t catch your attention, there are so much business you can do. First of all, you need to study your location to know what is high in demand and find a way to bridge the gap.
If for some reason you don’t have the product or services in demand, you can either be an affiliate or middle man. People make decent money from there things. All you need to do is to position yourself properly.
In conclusion, there are many Nigerian business ideas you can venture into. However, it is important that you do your due diligence before embarking on any. With proper knowledge and possibly, a mentor, the sky will be your starting point.
If it burns in your heart, start it! Time waits for no one and your breakthrough may just be in your starting!