5 Big businesses to do in Nigeria - Tips to Make Money in Nigeria

Posted by Felix Okoli on Thursday January 31, 2013 at 13:3:41:

If you've got like N500k to N1m, you might be able to start up a small business comfortably in Nigeria but if you've got like N5m to N100m and above, there are actually some cool businesses you can do in Nigeria too..

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Here is my list of some 5 big businesses one can do in Nigeria
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1. Real estate investment
Investing in real estate has always been profitable in Nigeria except during the civil war when people lost some of their homes. Land is abundant and at cheap rates too but there is scarcity of housing for the masses of people who mostly live in the urban areas. People who have got capital and invest in housing in Nigeria mostly make back their capital via rent in about 10 years or immediately after outright sale. Housing provided in cities are more likely going to cost more than those located in villages. Also the issue of security and infrastructure is important too. When buying land for real estate investment, one should make sure to get a certificate of occupancy before going ahead with major construction.

2. Mechanized farming
One popular one is Cassava farming. You can also try egg production, fruit farming and so on. Prices of agric products keep rising in the market due to scarcity and inflation in cities. Due to export of cassava products to China as well as cassava flour requirement in bread production, more companies are going into cassava farming, processing and packaging. Other products that sell well are yams, pepper, tomatoes and poultry. There is abundant land in Nigeria for farming and most of it is located in the rural areas.

3. Packaged Water production
The world is getting warmer and more and more people in Nigeria do need good drinkable water on a daily basis. Nigeria is one of the few countries where people actually have to buy drinkable water. Drinkable water doesn't run in the pipes and you can make money offering this charitable-like service. Your products can be satchet or bottled water and who knows, you cna also start your own brand of mineral water. Mind you, you would need a good piece of land with a factory setup in a non-toxic environment and well drilled borehole. You'll also need to get NAFDAC approval and SON inspection after you've set all up.

4. Movie production
There is a hug market for Nigerian movies both home and abroad and you don't have to spend too much to produce a movie. Most movies are mostly for home video although the trend is shifting a bid for cinema sized videos. You can get new or old faces, get the movie script, shooting crew and producer, choose a location and kick start your movie. You will own rights to your home videos on VCD, DVD and the internet. You can even sell movie rights to Paytv providers like DSTV and Startimes.
Even if your small or big budget movie doesn't make an immediate sale on the dvd market due to pirates, you can also try the Youtube option where companies like Nollywoodlove are making millions from Google by simply publishing Nigerian movies on YouTube.

5. Educational institution
Running a school is big business. Prices for school fees keep increasing yearly and you don't have to be a graduate to own a school in Nigeria(But a B.ED can be helpful). Just get a good land, install buildings, get the right staff, get the operating license and do some marketing and you'll see school students trooping in. There is a big market even fro day care centers and who knows, you can
expand to a secondary school. Your money comes when you charge per term and there are 3 terms in a year.

Comments:

Re: 5 Big businesses to do in Nigeria

thank you for this great idea may God continue to bless you i have this plan to owns and runs a school but sourcing for a capital is my problem

Re: 5 Big businesses to do in Nigeria

Am a member of d theatre-arts practitioner in my area, hw can I become star in d industry & puttin my work or film project on net lik dstv, africamagic etc in an advance level.

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