By Ephraim I. Ezaka
Hot Business Ideas To Start in Nigeria
Hello guys, welcome to Naijanest. Today we shall be discussing 20 Hot Business Ideas To Start in Nigeria. You and I know that the economy of the country is no longer friendly.
For one to survive as a civil servant or as a student, you need extra source of income. Due to the economy of the country, there are lots of unemployed youths. So many have been relieved of their duties because companies are shutting down.
Many workers have been owed salaries by the federal and state government. At a time like this, introduction of entrepreneurship is the best option for our economy. Entrepreneurship means the process of starting, planning and running a business venture.
It has in so many ways saved the economy of many nations like China, Singapore, United Arab Emirates, etc.
Starting up a business venture in Nigeria is the best option for people unemployed and those looking for extra income. There are so many benefits of owing a business venture;
1. You’re the Boss of you own
2. You determine your salary
3. You determine when to work
4. You’re an employer of labour
5. You actualize your dreams.
Consequently, people still ignore the issue of setting up a business in Nigeria due to some disadvantages attached to it. Most of them are caused by the business owners. The following are reasons why people don’t go into business in Nigeria or why some existing businesses fail in Nigeria.
1. Lack of planning
3. Epileptic power supply
4. Over taxation
5. Insecurity, etc.
Having discussed what it is to start a business. Let’s look at the list of businesses one can start in Nigeria with little cash.
1. PURE WATER BUSINESS
This is a very lucrative business that requires a little capital as low as #10, 000 to start up. The most interesting part of this business is that you don’t necessarily have to be the one to hawk it around.
The best approach to this business is to meet people who sell pure water along the streets, including those who hawk it along the road. And then explain to them that you are willing to supply pure water to them at a discount rate.
You can also be an employer of labour by getting some jobless youths off the street, buy them a robber basin and fill it with cold water and then let them help you in selling them. There is possibility that they can sell up to 22 bags of pure water daily. Pay them #50 per bag while you the employer will keep #150.
Pure water business is a simple one that yields a lot of profit in Nigeria most especially in congested cities like Lagos. People who engage in this business venture makes about #3,000 to #4,000 per day.
Hot Business Ideas To Start in Nigeria
2. LONDON USED CLOTHES (OKREKA)
These are clothes that have been worn outside the country and then imported into Nigeria by business men and women who deal on them. Most of these clothes are not easily differentiated from already made ones due to their high quality. Many Nigerians also prefer to buy they because of they are very cheap.
For the fact that this is not one of those businesses that requires you to have a shop, it’s very flexible and easy to start. Moreover, anyone can start Okreka business in any part of Nigeria because many people wear them and customers are always in demand for it.
Dealers on London used clothes usually make most of their sales around 3pm to 6:30pm. Reason being those college students, civil servants and other workers are always on their way home by these times and are always looking for new clothes to make up their wardrobes.
To start selling London used clothes, you first of all need to buy a full bell of Okreka. This would cost about #10,000 to #12,000. A full bell of Okreka might contain up to 220 clothes. Each clothe from the full bell can be sold at the rate of #600, #1,500, or more depending on the quality of the material.
3. MEAT PIE PRODUCTION
Meat pie is a common snack in Nigeria. Starting up a mini meat pie production business can cost as low as #10, 000.
The materials needed for the business include; stove or gas cooker, pot or Frye pan, oven, rolling wood, moiling board, flavor, and sugar.
From the above mentioned requirements, one can easily foretell that starting the business could be quite easy. To make the business faster, all have to do is to meet people selling meat pie in their shops. Also hawkers on the street are useful as well.
Many meat pie sellers confirmed that supplying the product to schools is a very good means of marketing. This is because students usually take snacks during school break and the sells are usually massive.
4. ROAD SIDE FAST FOOD (MAMA PUT)
Mama put is a very profitable business in Nigeria which everyone can start with little capital. Food is very important and as such always in high demand. Usually, starting a mama put is simple because you don’t look for customers, they will keep coming. All you need to do is to find a good location.
5. PLANTAIN CHIPS
In Nigeria, plantain chips production is a cool business anyone can venture into and make lots of gain. The business requires few materials such as plantain, Frye Pan, groundnut oil, store or cooking gas, Hot Business Ideas To Start in Nigeria etc.
6. BEADS MAKING
Women are known to be lovers of jewelry and men too. Many employed and employed Nigerians are massively making money by making beads. It is simple to start. You need to learn how to make it, which might not take up to 2 weeks to learn. You need to buy the beads of different colours, the tinny role, and that’s all.
7. POP CORN
8. CAR WASH
9. RECHARGE CARD PRINTING
10. PHONE ACCESSARIES
11. BARBING SALON
12. CHALK MAKING
13. ICE BLOCK SELLING
14. GAME CENTRE
15. SNOOKER BOARD
16. TUTORIAL SERVICES
17. SNALL FARMING
18. BLOG CONTENT WRITER
19. PHONE CHARGING
20. SIM CARD SELLING