In the recent research on business startup, we have found out that the friendly asked question by new business planning begins with what’s the most common business in Nigeria that are lucrative?
Are you thinking about starting a business in Nigeria but don’t know where to start from or the most common business in Nigeria that are lucrative you can invest your money to make profit? Here are the top 21 most common business in Nigeria that are lucrative you can invest your money if you think you are good at managing business.
Most common business in Nigeria that are lucrative includes: Farming/Agricultural Business, Fruit Juice Business, Table/Pure Water Business, Oil and Gas Business, Food Business, Transportation Business, Hotel Business, Building Materials Business etc.
Another common business in Nigeria we also believe is lucrative is Supermarket business . In a supermarket, you have different types of consumables, household equipment, and appliances that satisfy all kinds of clients.
It is a place where the elites, middle, and the low-class visit to shop for their needs. Aside from the beautiful and serene environment that is common with some supermarkets, you also have a variety of options and can shop for all your needs in one place without moving from one place to the other.
See the full list of the common lucrative business in Nigeria.
Most Common Business in Nigeria that are Lucrative.
See the outline of the common business in Nigeria that are lucrative. Some of them can be started with very little capital:
- Farming/Agricultural Business
- Fruit Juice Business
- Table/Pure Water Business
- Oil and Gas Business
- Food Business
- Transportation Business
- Hotel Business
- Real Estate Business
- Building Materials Business
- School Business
- Online Business
- Entertainment Business
- Fashion Business
- Health Business
- Sport Business
- Importation Business
- Media Business
- Advertising Business
- Property Investment Business
- Boutique Business
- Mall/Supermarket Business
1. Farming/Agricultural Business
The agricultural business is most common business in Nigeria and one of the most flourishing sectors of the Nigerian economy.
With proper strategic planning, any individual having basic knowledge of farming and manufacturing operation can start in the most profitable farming business in agricultural sector of Nigeria. See 50+ Most Profitable Farming Business in Nigeria.
2. Fruit Juice Business
A very good investment in fruit juice production in Nigeria will yield threefold of returns on investment within a short period of time.
50% of the more than 150 million population consume fruit juice on daily basis. No wonder companies like Chivita, Coca Cola, UAC, Leventis Foods, and others have been thriving in the business and making billions of dollars unannounced. See How To Start a Lucrative Fruit Juice Business In Nigeria.
3. Bottled/Pure Water Business
Bottled/Pure water is in high demand in homes, schools, institutions, offices, churches, hospitals, public gatherings, etc. As long as you can find humans there, water is needed. If you can meet with the demands of providing clean and affordable drinking water, this business idea is for you.
This is a business area that is profitable and sells everywhere in Nigeria. Therefore, if you are looking to venture into bottled water or pure water business you can go ahead.
4. Oil and Gas Business
The oil and gas industry is one of the largest sectors in the Nigeria in terms of dollar value.
The oil & gas industry is broken down into three segments: upstream, midstream, and downstream.
Upstream, or exploration and production (E&P) companies, find reservoirs and drill oil and gas wells.
Midstream companies are responsible for transportation from the wells to refineries and downstream companies are responsible for refining and the sale of the finished products. See one of the oil and gas company, NNPC Salary and Allowances For Entry and Managers Level in Nigeria.
5. Food Business
Food business ideas in Nigeria never go out of style as everybody needs to eat, several times a day.
That’s why this business is one of the most common business in Nigeria and starting a business centered on food can be a truly rewarding enterprise.
6. Transportation Business
Transportation business is also the most common business in Nigeria and the business is at a very speedy rate to becoming the most profitable venture for anyone who’s interested in making the coolest cash ever without need of running into hiding from the hands of the law. See How to Start a Lucrative Transportation Business in Nigeria.
7. Hotel Business
Hotel business is one of most suitable and profitable business in Nigeria. This is because Nigerians are heavy spenders when it comes to merriment and good life and hotel business in one avenue through which you can tap from such heavy spending Nigerians. See the Cost of Building Hotel in Nigeria – Hotel Startup Cost.
8. Real Estate Business.
Real estate may be defined as the land with all the improvements that human activity created to that land, e.g. homes, buildings, farms, ranches, etc.
Real estate business is properties comprising land and buildings. The real estate business deals with the buying, selling, management, and investing of these properties. See the Major Types and Careers In Real Estate Business.
9. Building Materials Business
Building Materials business is a popular business in Nigeria and people involved in the building material supplier business can earn up to crores depending on their network and capacity to do the business.
The construction industry in Nigeria uses a variety of building materials for different aspects of a home build.
Architects consult with structural engineers on the load-bearing capabilities of the materials with which they design, and the most common materials are concrete, steel, wood, masonry, and stone.
10. School Business
School business in Nigeria is the most common business, no doubt the business has over the passing years proved to be a very lucrative enterprise.
This is certainly not only owing to the consciousness that formal education is a necessary legacy for national and personal development but also due to the necessity that follows, as a fact, from the exponential increase that daily beset the nation’s population growth. See How to Start School Business in Nigeria And All You Need To Know.
11. Online Business
Nigerians loves online business because it gives them the freedom to make money from anywhere in the world.
The idea is enticing, and more possible than ever, but many Nigerians don’t know where to start.
The most important step in starting a profitable online business is to find a business idea that matches your skills and strengths. See How To Build A Successful Online Business. ( 4 Secret Steps ).
12. Entertainment Business
The entertainment business in Nigeria is very common and the industry is part of the tertiary sector of the economy and includes many sub-industries devoted to entertainment.
It applies to every aspect of entertainment including cinema, television, radio, theatre, and music. See Don Jazzy Net Worth, A popular entertainment business man in Nigeria.
13. Fashion Business
Fashion designing business in Nigeria is not necessarily the business of sewing both local and foreign fabrics. Follow here, the Steps To Start a Successful Fashion Designing Business In Nigeria.
14. Healthcare Business
The healthcare sector Nigeria consists of businesses that provide medical services, manufacture medical equipment or drugs, provide medical insurance, or otherwise facilitate the provision of healthcare to patients. Some healthcare businesses in Nigeria includes:
- Hospital healthcare services
- Pharmaceutical services
- Medical transcription services.
- Medical records management.
- Physical/occupational therapy center.
- Develop a health care app.
- Diabetic care center.
- Home health care service.
- Medical foot care.
- Drug treatment/rehabilitation center
15. Sport Business
Sport Business is one of the most common business in Nigeria that provides global intelligence services, providing unique news, analysis, data, consulting and events.
16. Importation Business
Importation business in Nigeria is a gold mine, booming and very yielding. Nigerians are now taking advantage of one of the most flourishing business activity which gives so much in return for just little invested into it. See here, Easiest Way to Start Importation Business in Nigeria.
17. Media Business
Media Business involve companies like radio, news publishing or television company in Nigeria. Nowadays information seems to spread really fast via media and this why the business has so many actors in Nigeria.
A media company is a business set up for disseminating information through radio and television broadcasting, print publishing and the internet.
18. Advertising Business
Advertising is one aspect of marketing. While marketing is the overall approach to speaking to customers about your brand, advertising is usually a paid form of messaging designed to lead to sales.
Advertising business got so much attention in the recent years in Nigeria and this has positively lead to so many creation of advertisement agency. Advertising can be short-term for a special promotion or ongoing, but usually requires a financial investment.
Advertising has helped so many business of today to make amazing sales.
19. Property Investment Business
Buying and selling property is one is one the most common business in Nigeria people do and they see as a fast way to make huge money.
Nigeria is one the countries in the world where landed property is most expensive. If you buy land now anywhere in Nigeria, you are sure to make 100% profit within few years. Investing in property is very lucrative, you can buy land or house and quickly resell and make profit or you keep and sell later.
20. Boutique Business
A boutique business is among the most common business in Nigeria. Starting a clothing shop boutique business is a profitable business here in Nigeria especially if you focus on both women and men wears.
women love fashion and styles, it is not out of place to say that it is a business that will interest you and fun to grow as you expand.
For example if you purchase items for N2,000 in the market and you sell at N3,000 – N3,500, you will have a profit of N1,000 – N1,500 at the spot. So imagine you make up to 100 sales in one day!
21. Mall/Supermarket Business
A Mall or Supermarket is a large retail shop where all kinds of groceries, household goods, and products are sold. Goods are organised into sections on shelves and aisles in a self-appealing manner for easy identification.
It is a self-service center where customers shop their choice of product, thereafter proceed to the cashier for costing and payment.
Mall or Supermarket business in Nigeria is very common and it is becoming the preferred place to shop in Nigeria because it’s seamless and you can find most of the things you need in a place at relatively affordable prices with flexible payment option.
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