8 Business Ideas in Nigeria that will turn you into quick millionaire in 2018

In this article, Shoplife Africa put together a quick countdown on Business Ideas in Nigeria that will turn you into a cash cow in the remaining part of 2018 and even beyond. These are businesses you can invest into and you will be rest assured your investment is worth it. Let’s get down to it. There are enormous Business Ideas in Nigeria, for the sake of this article; we will be exploring them by industries. Without much delay, let’s dive into the Business Ideas in Nigeria you can lay your hands on as entrepreneur and investor hoping to cash out from the largest African economy.

 

Also Read : 10 Reasons Digital Marketing Strategy is so important for Small Businesses

Fin Tech

This is a big sector that will continue t thrive in this information age. The adoption of Fin Tech can only get better in Nigeria. Fin Tech is one of the newest and fasted growing industries in Nigeria. It involves the use of technology to enables financial services. Most of the transaction in this part of the World is still done in cash, entrepreneurs and investors can look into this area and develop new solution that the Nigeria’s populace can adopt fast. Apart from the independently owned platforms, most banks in Nigeria now have their own mobile money apps and platforms that makes transactions more easy for their customers.

Food Processing

As you can rightly imagine, Nigeria’s greatness problem in the area of food production is processing, storage and preserving and marketing. If Nigeria could process the food it produce, food waste will drastically reduce, and food supply will be more stable, steady and seasonal. Food prices will be more stable too. Nigeria is the largest producer of tomatoes in Africa; however, the country spends millions of dollars on importing processed tomato paste and tin from China every year. Tomato is just one of the examples; there are lots of products been imported into major cities of Nigeria that the raw materials are abundant in the country. This is a great Business Ideas in Nigeria that you can explore as an entrepreneur.

Nigerian Fashion

This is a huge business opportunity for current and aspiring entrepreneurs that are looking to tap into the epic business of fashion. Nigerian fashion is so huge. Nigerian fashion industry is more than capable to boost economic growth and create millions of jobs for the populace. Despite some challenges, Nigerian fashion promises to be a good viable business that can produce a lot of millionaires in 2018. We can see the manifestations of this new fashion age with lot of trendy fashion statements. With online marketing tools like Pintrest, Nigerian fashion business is not slowing down anytime soon. The explosive combination of African creative genius is what is making this business to bloom. The African culture history is changing by the new breeds of designers that are storming the World. A forecast by the African development bank says African Fashion industry could be worth $15.5 billion in the next 4 years. This is only a small share of the global fashion industry that is valued at $1.3 trillion. As an investor, Nigerian fashion is a huge business you can dive into.

Pay TV

With huge revenue of about $4 billion, Africa large population and the youthful demography is what make this industry a good business that make sense for investors that is willing to go into this sector. As Africa’s internet penetration, rise in the adoption of smart phones is getting bigger, there is no stopping for consumption of VOD and pay TV subscribers in Nigeria. Being the largest African Pay TV market, a lot of on demands Video streaming platforms and apps are springing up. Example is Iroko TV which is blazing the trails on how Nollywood movies are consumed. Digital migration will also be a key growth driver in this industry. In 2018, new household will become Pay TV subscribers, paving way for more revenue for both new and existing players to generate huge revenue.

A must read: 7 Creative Ways to Save Money on Small Business Marketing in 2018

Nigerian Movies and Music

With a population of more than 190m people, Nigerian movie and music industry is booming day by day. Nigeria youthful demography is one driving force that makes this industry a very viable business for anyone that is looking to invest in the Nigeria’s entertainment industry. The biggest four areas to invest into in this industry is exhibition and events, music and movie financing, Production and distribution. With less than one cinema per million people, Nigeria’s cinema sector is a huge sector to invest into.  In the music industry, the adoption of Afrobeat and Nigeria’s music stars like Wizkid, Davido, 2Face and others is generating millions of dollars for the music industry outside of Nigeria.

Real Estate

What makes real estate such a wonderful business opportunity is the scarceness. Across the major cities and towns of Nigeria, investing in real estate segments like residential, Office spaces, retail outlets, hospitality and industrial facilities is a wise decision. There is a saying from John Stuart Mill that says Landlord grow rich in their sleep without working, risking or economising. The best investment on the Earth is the Earth itself. Nigeria’s real estate industry is a multi-billion dollars industry. Real estate is in short supply in major cities across Nigeria. Entrepreneurs and developers are doing themselves a lot of good to tap into these underserved needs.

Urban Transportation

With huge success of Uber, a multi-national retailing transport company, eyes of Nigerians are now opened to the huge and enormous opportunities in the Nigeria’s urban transport markets. The company is present in major African cities like Kampala, Cairo, Nairobi, Lagos and Johannesburg. Uber has created a powerful opportunities for entrepreneurs across Africa. We have new player like Taxify that is also making waves. There are lots of opportunities in this sector, as long there are people on this planet Earth, there will be needs to commute from one place to another.

Renewable Energy

According to a report in a study carried out by World Bank, only one out of three has access to light in sub-Saharan Africa. According to this report, almost 80 per cent of Africans use firewood and charcoal as primary source of energy for cooking which in no time can lead to deforestation. A lot of African entrepreneurs are already using the power of sun and water to produce low cost electricity to the populace. This industry is a viable business model especially in Nigeria.

 

Starting a business is a good feeling, though not an easy journey but when you find that ideal idea that you are passionate about, you are surely going to do well, you just need to get your entrepreneurial hat and skills on.

These are just few of some of the business opportunities in Nigeria that you can explore, share some that you know and let's get a good conversation going in the comment section.

 

Kindly share with your networks.

Compare
UPGRADING OF THE BIOFUELS VALUE CHAIN IN NIGERIA: EXPECTED OPPORTUNITY UNDER THE ROUNDTABLE ON SUSTAINABLE BIOFUELS

UPGRADING OF THE BIOFUELS VALUE CHAIN IN NIGERIA: EXPECTED OPPORTUNITY UNDER THE ROUNDTABLE ON SUSTAINABLE BIOFUELS

Low-Carbon Development: Opportunities for Nigeria (Directions in Development)

Low-Carbon Development: Opportunities for Nigeria (Directions in Development)

Price
$73.00

Free shipping

13 new from $63.87
6 used from $83.13

as of April 23, 2018 2:59 pm

as of April 23, 2018 2:59 pm
Shop Now
Compare price
amazon.com
Compare price
amazon.com
Features
  • Upgrading of the Biofuels Value Chain in Nigeria
Binding
Paperback
Kindle Edition
Brand
Abimbola Makanjuola
Label
LAP LAMBERT Academic Publishing
World Bank Publications
Number Of Items
1
Number Of Pages
84
186
Product Group
Book
eBooks
Publication Date
2011-04-29
2013-06-19
Publisher
LAP LAMBERT Academic Publishing
World Bank Publications
Studio
LAP LAMBERT Academic Publishing
World Bank Publications
EISBN
9780821399262
Format
Kindle eBook
Release Date
2013-06-19
Barcodes
  • ISBN: 3844325514
  • EAN: 9783844325515
  • MPN: 43192-453678
  • Part Number: 43192-453678
Images
Compare
DOING BUSINESS IN AFRICA: Opportunities, Prospects and Challenges (The African Entrepreneur Book 1)

DOING BUSINESS IN AFRICA: Opportunities, Prospects and Challenges (The African Entrepreneur Book 1)

Business Opportunities in Nigeria

Business Opportunities in Nigeria

Price

as of April 23, 2018 2:59 pm
$15.95

Free shipping

9 new from $14.21
2 used from $15.33

as of April 23, 2018 2:59 pm
Shop Now
Compare price
amazon.com
Compare price
amazon.com
Features
  • Business Opportunities in Nigeria
Binding
Kindle Edition
Paperback
Edition
First
Format
Kindle eBook
Label
HSE Consulting Group
CreateSpace Independent Publishing Platform
Product Group
eBooks
Book
Publication Date
2016-06-15
2014-09-10
Publisher
HSE Consulting Group
CreateSpace Independent Publishing Platform
Release Date
2016-06-15
Studio
HSE Consulting Group
CreateSpace Independent Publishing Platform
Brand
U S Department of Commerce
Number Of Items
1
Number Of Pages
94
Barcodes
  • ISBN: 1502323990
  • EAN: 9781502323996
  • MPN: black & white illustrations
  • Part Number: black & white illustrations
Images
Compare
Business opportunities in Nigeria: Report

Business opportunities in Nigeria: Report

User Rating
Price
$13.99

Free shipping

1 new from $13.99
as of April 23, 2018 2:59 pm
Shop Now
Compare price
amazon.com
Features
Binding
Paperback
Label
University of Michigan Library
Number Of Pages
28
Product Group
Book
Publication Date
1961-01-01
Publisher
University of Michigan Library
Studio
University of Michigan Library
Barcodes
Shop Now
Images

PROCESSING
Register New Account
Name (required)

Musician,Creative Business or a Fan ? (Required)

Apply as vendor?
Reset Password