10 Hot Lucrative Business in Nigeria 2020
The adverse economic conditions in Nigeria of recent times has left everyone in search of means to make more money, even if it is just a few bucks.
With the current unemployment rates pushing people out of their offices, you might be considering going into a business venture but you’re not really sure of which ones you should try out. We have you covered.
Below is a list of 10 highly lucrative businesses to invest in Nigeria:
1. Digital Marketing Agency
With the increase of mobile technology penetration in the Nigerian market space, most brands are taking their marketing campaigns online. This is what digital marketing entails.
Digital marketing agencies are quite different from traditional marketing agencies. They are focused mainly on results-based marketing through online platforms.
Digital marketing services are highly demanded in the country and only a few good companies are out to deliver this services
Digital marketing skill sets are available on the web, although you’ll have to pay some fees to learn them, you’ll not regret it making the choice.
If you’re tech inclined and also good with monitoring and cultivating the success of projects, you should start looking at getting started with your own agency right away.
Running a digital marketing agency in Nigeria may not be easy as you think, just like any other business. Proper preparation and planning will ensure good success.
I thing you will like to see this : Secret tips to make money on Instagram now
2. SEO Company
SEO which is an acronym for Search Engine Optimization is highly lucrative business venture in Nigeria. This is because it can make you wealthy with just a normal start-up capital.
Becoming an SEO expert involves learning an improved variety of
Search Engine Optimization techniques to help improve a website search engine rank . Once you have fully learned grasped the knowledge of SEO, you can even further move to start your own SEO company.
Bloggers, website owners and markers are just a snippet from the long list of your potential clients. You can make a whole lot of money doing SEO if you’re really good.
To start up an SEO company is a very tough task. You can become an entrepreneur if you know how the search engine works and how to ensure your client’s websites rank increases after optimization.
3. Soft Drinks Retail Business
Soft drinks are for everyone, everyone loves soft drinks. Although soft drink retail is highly competitive, there’s a very high mass consumption rate of soft drink in Nigeria.
You can start up a large Soft drink business or just settle in for a small one, depending on the amount you have as capital. It’s a business line that deals with non-alcoholic drinks like coca cola, Pepsi etc.
4. Poultry Farming
Poultry farming is one tricky business venture that could make you extremely rich in a few years.
They’re a whole lot of success stories surrounding poultry business in Nigeria. It is so lucrative that even outsiders are coming in to invest in poultry farming the business in Nigeria. And why not, In a country of
more than 150 million people, what would you expect? If you start with 1,000 birds and manage your poultry farm properly, when the turnover on investment begins to come, you will be making millions annually.
5. Oil and Gas Business
Nigerian economy thrives mainly on oil and gas, that must mean something very important. We are blessed and cursed with huge deposit of oil in our land which presents some of the finest business opportunity for Nigerians and Foreigners.
Owning a Petrol Filling Station,
Supplying of Diesel , and Distribution of Kerosene are some the areas you can invest easily and make good money for yourself. Petroleum product marketing have been making millions for people and creating millionaires in Nigeria for years.
6. Bedding Stuff Business
Bedding stuff in some cases form part of interior decoration of a house, hotel, and other settings. In this connection, reach out for old and newly established hotels. They always need bed sheets, duvet, pillows etc. on regular basis.
Again, map out other demand outlays; home supplies, public centers, schools, etc. That is establishing your target market. Remember to plan for your source of the stuff. If you buy in bulk or manufacture by yourself, your profit margin will increase.
7. Sales of Building Materials
Nigeria is still under its development stage. structures are being erected around every corner. The rate at which new houses are springing up in Nigeria, you get to wonder why many people still complain of housing problem. Investing in building material is one business that will bring in a good turnover in Nigeria.
This business will need a good marketing and management plan as well as other customer related service plans to run smoothly and bring in the desired outcome.
9. Drop Shipping business
Drop shipping is a fast growing lucrative business venture with little risk to go into.
Drop shipping in simple terms is the business of providing goods by direct delivery from the manufacturer to the retailer or customer. But for the complex, big English speaking Nigerians,
Drop shipping is a supply chain management method in which the retailer does not keep goods in stock but instead transfers the customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.
Drop shipping is a good way to make legit money from the internet and it’s something everyone can go into. You can see complete guide on drop shipping here.
10. VTU Business
Another beautiful benefit of increased mobile technology penetration in Nigeria is the high demand for airtime credit. And VTU is a smarter, better way to meet that demand.
VTU is an acronym for Virtual Top Up. VTU basically involves a vendor recharging the line of a service subscriber digitally, that is without the use of USSD codes or recharge cards. The customer will receive a direct alert telling him his phone has been recharged. At the end of the transaction the vendor gets a small percentage of the recharge bill. You can see the complete guide here.
Other Hot Lucrative business Ideas in Nigeria
There are lots of other lucrative business ideas in Nigeria but I am going to conclude this article by giving you this very lucrative business which requires a very little capital for start up. This business idea is data reselling business. You use data services everyday and you can imagine the kind of income you will realize when you venture into this business. It is very easy to start up. Check out the complete guide on how to start here.
That’s it on 10 hot lucrative business in Nigeria. Do you have any other business you want to share? The comment section is open for that.
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