Many entrepreneurs, business angels or venture capitalist have been in search of investment ideas to invest their financial resources that will yield good output. It is one thing to have the capital and it is another thing to have the right investment idea of what you want to invest your capital on. There are ample investment ideas in Nigeria if only one can decide to carry out feasibility studies.
There are many untapped investment ideas in Nigeria. When once you can provide a solution to people’s problem then you are sure of making cool cash. Back then, many investors have invested their fortune on stocks and bonds but things have changed. Those things don’t work again because of the technological era that we are right now. We are going to look at some criteria for investment ideas in Nigeria.
- Must Read: Types of Companies in Nigeria
Criteria for Investment Ideas in Nigeria
1. You Must be Available
There’s no iota of doubt that punctuality is the sole of business. For investment ideas to strive you must be available to monitor the progress of the business especially when the business is starting. Whereby, you don’t make yourself available the business will not make good returns. The only time you are allowed to leave the business is when you are making profit already.
2. You Must Have Knowledge
Apart from your capital, competency and skill are a must to have. You don’t have to venture into business because your friend or family relatives are into it. This might lead to pitfalls along the line of business. That’s why it is advisable to invest time and if possible take adequate lectures from people that have done that particular business you want to invest your capital.
3. You Must Vhave Capital (Fund)
For you to invest in an idea in Nigeria, you must have capital. Capital is a powerful source that supports an investment idea. You don’t have to multi-million dollars to start a business. There’s the adage which says, “The journey of a thousand miles begins with a step”. When you start a business with a small capital is not a bad idea. The good news is you have started something because procrastination is the thief of time.
4. You Must Make Sure your Business is Always in Demand
Many investors have made mistake investing their hard earned money in a business that’s not in vogue. If you invest your capital in this kind of business, there’s always a tendency you might lose your capital. Therefore, you must know the business trend that will always be in demand before you dive into it. In this article, we will be concerned about 10 investment ideas.
Investment Ideas in Nigeria
1. Setting up Writing Company
The demand for writers is getting high every day by day. If you are conversant with the current trend you will find out that most jobs out being outsourced. In the US most companies are in need of content writers. There are many online platforms one can register and make good cash such as Upwork, freelance, Fiverr and lots more.
You can organize your team of writers and go search on the internet for media or publishing companies that need contents. The business is highly in demand and it is profitable if only you know what you are doing. You can decide to work from home and deliver your clients’ jobs online.
2. Call Centre Agency
Many of us have called call centre agency of a telecommunication to make complain. All these people that work with the call centre agency are not employed by the companies or work within the companies. This has been made possible through outsourcing because they represent the company to attend to customers whenever there are issues. As an entrepreneur, you can set up a call centre agency and work for big firms with high reputation.
- Must Read: How to Register a Company in Nigeria
3. Recruitment Agency
The rate at which we are having graduates in Nigeria is increasing geometrically and this is causing unemployment in the labour market. Most companies don’t employ full-time staff instead with the aid of a recruitment agency they employ contract staffs. The purpose of this is to cut down the cost of carrying out recruitment exercise and employee benefits such as gratuity and pension etc. This trend is still going on and you can make money by recruiting skilled staffs for several companies in Nigeria.
4. Livestock Farming
This kind of investment ideas can be done in your backyard if your compound is spacious. Livestock products are always in demand. When you have the technical skills that are needed to run the business, then you are good to go. There are several ways one can benefit from this business such as livestock feed production, livestock breeding of animals, and selling of pieces of equipment. Examples of these livestock farming are poultry farming, snail farming, rabbit farming, goat farming, cattle farming, grasscutter farming, and fish farming etc.
5. Exportation of Agro-products
Nigeria has so many natural resources that serve as raw materials in some foreign countries. On daily basis, tons of food products and raw materials leave the country to foreign countries such as UK, Brazil, India, China, Vietnam, and the USA. In spite of these raw materials leaving the shore of the country, still, they are not enough to meet the demands of these foreign countries.
If you are so passionate about this investment idea you can register with the Nigerian Export Promotion Council and make a decision on the type of product you want to export. It is still advisable to trade within the country and still make huge money. Examples of these products are Kola nuts, Garri, Palm Oil, Cashew, Bitter Kola, Cashew nuts, Yam and lots more.
6. Establishing a Media House
The media industry in Nigeria is increasing. In Lagos and Abuja, the numbers of TV and radio stations are becoming outrageous. Some states in Nigeria don’t have private media houses. They rely on government media house. This sector is still open for people that want to make a big-time fortune from it. There are two ways to go about this is either you set up a radio broadcasting station or TV station. If you feel you don’t have adequate funds to acquire a license, you can start with an online media house.
- Must Read: Best Insurance Companies in Nigeria
7. Haulage and Logistics
This is another flourishing business that can be run in Nigeria. This kind of business can’t be affected by weather condition. Every day people haul their goods and products from one location to the other. This kind of business is capital intensive. You can decide to focus on hauling clients’ containers from seaports or you can decide to haul goods and products of companies.
What you have to do is to purchase a truck and register it with a haulage and logistics company. An agreement is being made with them and a fixed amount of money will be paid to you weekly or monthly depending on the agreement. Other examples of goods that can be hauled are perishable goods such as vegetables, frozen foods, and fruits etc.
- Must Read: Best Courier Services in Nigeria
9. E-Services
Nigeria is moving fast in respect to the technological age that keeps on evolving. If you have a vast knowledge with the internet, you can offer e-services to people that are in need of it. Examples of e-services are software and app development. Search Engine Optimization, Web designing, Bulk SMS services, registration of courses and digital marketing etc.
10. Security Recruitment Company
Every firm needs security to protect their important pieces of equipment and to safeguard the lives of their staffs. This investment idea is huge in demand. It is not only the job of the government to provide security. It has now become a collective effort that private companies in Nigeria are in need of exceptional security services.
You can set up a security recruitment company and train people that companies will be coming to employ their services. Security devices such as CCTV are required on high profile companies that need maximum detailed security or you can import safety devices and sell them.
9. Food Processing
This is another profitable investment idea that one can venture in Nigeria. The main idea about this business is to convert raw materials into finished goods or products. There are a lot of food items that can be done under food processing and examples of such food items are Garri processing, groundnut processing, oil palm processing, yoghurt processing, and fruit juice production etc.
Some other investment ideas that can be done in Nigeria are a mini refinery, inland water transport, sewing specialized uniforms, real estate development, importation of wears, bottled water production and lots more.
There you have it. A comprehensive list of all the lucrative and fast rising business investment ideas you can start right now in Nigeria and most African countries to start making a fortune right away. Hope you loved this list? Feel free to let us know what you think in the comment section below.