If you are interested in making money in
Nigeria in 2019, we are glad to inform you that there is a handful of business
opportunities there and they are open to everybody who has been dreaming about
being an entrepreneur in Nigeria. Whether you are an unemployed, an employee
with a high salary, an experienced businessman with little capital, you might
consider various business ideas worth to be implemented in 2019. So, welcome on
board, and you will be aware of what business to do in Nigeria to become
wealthy and successful.
No need to explain that a lack of
persistence, determination and hard work may result in a failure of even the
most promising business ideas. As experience shows, many of potential billion
dollar businesses close within the three-five first years not because of low
capital but a bad attitude towards work. While in many cases the success of the
startup depends on the entrepreneur, it can also depend on the type of business
and product.
Nowadays, to be a successful entrepreneur,
you don’t have to be a corrupt politician or bureaucrat, or be engaged in some
shady scams but to be passionate about a lucrative business idea. In past,
African “old school” millionaires made money extracting natural resources like
copper, gold, oil, and diamonds. They became insanely rich at the expense of
the common good and the natural environment. Today, a new generation of young
African businessmen are not interested in natural resources as they found a
much more valuable resource.
If you are one of many young
entrepreneurs who are wondering what can I do to make money in Nigeria, you
might be interested in making money by creating new values and improving
people’s lives. You might ask what is the key to success?
Nigeria is a country overwhelmed
by many problems including hunger, serious diseases, unemployment, illiteracy,
inadequate electricity and other. This determines the types of businesses in
Nigeria which can be divided into several groups. Here, we are going to take a
closer look at online businesses (digital and social media marketing,
e-commerce, programming, coding tutoring, affiliate marketing, app, and web
development), businesses that move fast in Nigeria (farming and agriculture,
logistics, food-related businesses, manufacturing, fashion design) and the most
lucrative business ideas (startup funding, real estate, jewelry) and others.
How to make money online
The online business ideas listed
below will surely be one of the hottest ones this year for many reasons. Thanks
to the fast development of digital marketing strategies and tools, a lot of
businessmen will be able to use new, creative ways to do their businesses.
Also, many startups are expected to spring up to address a lot of health,
electricity, economic, financial, agriculture, farming challenges and many
more.
1. Social media marketing: Besides being tools for staying in touch
with family and friends, social media platforms have proven highly invaluable
in strategic marketing. Being cost effective, Facebook, Instagram, and other
networks have become a great option allowing marketers to engage the new
customers.
As a business owner, you don't
have much time to manage your social media presence as you are focused on
production. This is where social media marketers come into action. Their
services include setting up social media accounts, developing marketing
strategies, staying updated on tendencies. If you are acquainted with social
media management, all you need is a computer and internet service.
Just like in 2018, the fight will
take place on social media platforms. Social media marketing will be one of the
hottest businesses in 2019 in Nigeria. A lot of businesses will be looking for
professionals who will be able to give a hand in creating a business brand on
social media networks and make money online.
2. Freelancing, blogging, and vlogging: Another tip on how to make
money in Nigeria just like in any other country is to be a freelancer, blogger
or vlogger. If you specialized in some area of knowledge, you can be a
freelance writer and get paid for posts and product reviews. Blogging is also a
promising and profitable niche, however, you would need to narrow down your
blog to a particular focus, for example, food, fashion, education, work from
home, entertainment, news, etc. Blogging is not the only way you can earn money
out of your knowledge. Vlogging can be a great source of cash for those who
like sharing their tips and interesting info via video.
What is important is how to drive
more traffic to your blog or vlog. For this purpose, you can apply for Google
AdSense and other advertising platforms to begin earning from your blog or
vlog.
3. Online tutoring: The times of home tutors are probably in the
past. A lot of people nowadays take online courses to get the needed knowledge
without attending the classroom or hiring a home teacher. Online tutoring can
save time and money for those who are interested in learning. If you are
wondering about what you could teach other people, it can be any school
subject, language or skill. To start your own online course, you just need to
register on an online learning platform like Udemy and upload your videos. It
can be a great side hustle as well as a full-time job.
When talking about programming or
coding tutoring, this niche can be twice more profitable. If you know some of
the programming languages, you can teach people how to write a code to create
programs, applications, websites, etc.
4. Dropshipping: Probably,
everybody has already heard this word, but not everyone knows what it means.
Dropshipping is a type of retail business which doesn't require keeping the
products that are sold in stock. The products are delivered directly from
manufacturer to the client. A person that is dealing with ordering and shipping
is paid for her service. When it comes to Nigeria, dropshipping is a business
that might cause some challenges that are concerned with receiving
international payments. The truth is dropshipping can be a great source of
passive income and lucrative side hustle business one could ever think of.
5. E-commerce: is one of the most lucrative business ideas. People
are more and more getting used to making online purchases. In Nigeria, an
increasing number of entrepreneurs sell their products in online stores. In
2019, e-commerce is going to expand and develop allowing businessmen to sell
even without a website but on social media platforms. Nowadays, you can have a
profitable brick and mortar store, but if you don’t have an online shop, you
don’t have a business.
6. Web and apps development: The Nigerian digital industry is one
of the top niches to take into account when choosing a future career. If you
are a web developer living in Nigerian, you might hear about such award-winning
apps like Find-A-Med, OkadaBooks, AfriNolly, BudgIT, etc. This industry has
proved very lucrative as it allows creating useful applications and beautiful websites.
Mobile smartphones, computers, and other devices are here to stay. They are
highly important for every business to stay visible to the millions of
customers.
7. Affiliate marketing: One more way to make money online in
Nigeria in 2019 is through affiliate marketing. Affiliate marketing consists in
earning money on advertising products via websites. If you are a digital
marketing professional, you can help business owners to sell their goods and
services by placing advertisements on various websites and blogs. In this case,
you will play a role of an affiliate marketer who promotes merchant’s products.
You get a commission when a purchase is made. The commission which is a
pre-agreed percentage is paid in the form of pay-per-click or pay-per-impression
fee. The more sales are made, the more affiliate is paid.
Top 5 businesses that move fast in Nigeria
There are types of businesses
that move fast in Nigeria. They were considered very lucrative in 2018, the
situation will not change in 2019.
1. Farming and agriculture: Given the fact that Africa owns around
65 percent of the world’s unused land, the abundance of labour resources, and a
suitable climate, the continent has great opportunities for farming and
agriculture.
A profitable business to do in
Nigeria is farming. Most farmers across the world are financially successful.
And Africa is no exception. According to un.org, Africa’s agriculture business
will be worth $1 trillion in a decade. The thing is, most of Africa’s food
production is still based in rural areas where mostly poor people live. They
use unadvanced farming methods with very limited access to capital.
One of the latest models of
farming is crowdfarming which consists in pooling investors’ and the farmers’
funds together. When the investors crowd-sponsor the rural farmers, they take a
share of the profits at harvest time. When talking about Nigeria, the most
popular crowdfarming platforms are FarmCrowdy and ThriveAgric enabling Nigerian
investors to cooperate with farmers.
The thing is most people in
Africa worry so much about how to start an animal feed production business.
There are surely many effective ideas of how to make an animal farm a
profitable business. For example, if you visit noodles production factory, you
can ask an owner to sell you the waste product of noodles to use as feed. When
talking about agriculture in Nigeria, agriculture businesses are the most
popular search hits on Google, especially, flour production.
2. Logistics/courier business: With a growing number of online
businesses, delivery business is a good opportunity to make some money in
Nigeria with little capital. More often businesses need their products to be
delivered to customers. That’s why numerous delivery/courier companies emerge.
If you order products from Kenya to Nigeria, some company has to deliver them.
Cost of shipping can be decreased due to healthy competition, forcing down
prices.
All you need to start a delivery
business is a delivery machine and marketing professional. The biggest problem
faced by Africa’s urban population is congestion, poorly diversified transport
system which makes deliveries a nightmare for both consumers and businesses.
Delivery is a good business to do in Nigeria.
3. Food vending business: Food remains one of the most important human
needs. Food vending business has always been a lucrative business idea for
those who are interested in this industry. Even with little capital, you can
easily open a foodstuff online or brick and mortar store in Nigeria. The thing
with food vending business is that you need to get peoples’ trust, that is,
meals should be tasty, they should be prepared with proper hygiene, and
delivery should be timely.
4. Local manufacturing: Africa expands exportation of various
products like coffee, timber, crude oil, minerals, cocoa every year. Food and
non-food items are delivered to a lot of countries around the world. Some of
the local products have become global brands and best-sellers. For example,
Shea butter is taken from the trees that only grow at the source of the Nile River
and a few other countries.
One could make a long of products
produced in Nigeria beginning with tissue paper and soap and finishing with
drones and automobiles. By the way, drones are used not only to chase
terrorists and take breathtaking altitude photos but help with logistics,
farmland management, humanitarian deliveries, conservation support and many
more. As this is quite a new industry, not many entrepreneurs can afford to
adapt drones to solving serious problems in Nigeria. In 2019, it is expected
that more smart businessmen will carve a niche for themselves by transforming
rare products into national and international brands.
5. Fashion design business: Fashion design is a well-established
industry that has been developed in Nigeria for many years. It is known that
creative fashion designers can make a lot of money if they have enough talent
to make a change in the industry.
If you have seen what African
designers do with popular fabrics like Ankara, you understand what we are
trying to say. Ankara fabric is going to get all the attention in 2019, the
love for this fabric will only get stronger. Nigerian designers use Ankara to
sew everything from underwear to cooperate wear. If you have no talent for
creating fashionable clothes, you can still join the niche of Ankara
distribution and retail business in Nigeria.
What is the best business to do in Nigeria?
Still, haven't find the business
that meets your possibilities and expectations? You definitely should take into
consideration the ideas listed below. They will be trendy in 2019 and if
managed correctly can bring you good profit.
1. Waste management is a business to do to become rich in Nigeria. The
efforts Africans are making to clean up the environment are worth admiring. The
campaigns like #TrashHaters grow stronger on social media becoming an effective
way to implement one of the most profitable business ideas. In 2019, many
Nigerian entrepreneurs are expected to turn the waste into wealth.
For many years, waste management
has been a huge problem in Nigeria. As for now, the waste is either buried,
burned or thrown away. Around 70 percent of waste produced in Africa ends up in
a landfill or gets dumped in the water. The problem is that Africa’s population
continues to grow, so this problem is only going to get worse. There are many
ways to manage the waste in Africa squeezing out value from it. Some of the
businessmen convert waste into animal feed, electricity. The good thing is that
this industry can provide many jobs for thousands of people.
2. Jewelry business: Women love jewelry and fashion for it will never
die. So, why not start your jewelry business in Nigeria in 2019. The good thing
about jewelry is that this is always a good idea for a present for a lady. A
piece of jewelry never expires, it can be a good way to invest your money. When
thinking on a larger scale, jewelry is a profitable idea for those who would
like to start their own business. If you already have a store, make sure you
hired a social media marketing professional to properly advertise your
beautiful pieces of jewelry.
3. Real estate business: is one of the most lucrative businesses. 2019
will be no exception. You can even start your own profitable real estate
business with even little capital. You can even make your real estate business
an active or passive income source and still make serious money. Nigeria is
experiencing one of the world’s highest rates of urbanisation. It requires
building houses faster to meet the demands for accommodation. Given the fact
that Nigeria is Africa’s most populated country, the housing crisis created a
lot of opportunities for real estate business.
4. Startup funding: Investing activity in Nigeria is growing every
year. Currently, Nigeria is one of the countries that are in the spotlight
taking about 70 percent of the investment inflows. Every year, venture capital
investment reaches $100 billion. The truth is the return on investment in
Nigeria is one of the highest on the continent. Over the past decade, the
amount of venture capital flowing to African countries has grown 1,500 percent.
And these figures are going to grow in 2019. For example, Nigerian tech
startups received nearly $600 million in funding from Nigerian and
international investors which is 50 percent more than in 2016.
5. Cryptocurrencies: There must be nobody who hasn’t heard about
Bitcoin and other cryptocurrencies by now. A lot of people have become
millionaires and billionaires trading cryptocurrencies. However, many have also
become broke investing in this industry. The good thing is that
cryptocurrencies are legalized in about 10 countries including the USA, Canada,
Japan, Germany, Russia, France, and other.
Similar to other currencies,
Bitcoin’s price keeps soaring higher not every year but every hour. It seems
like cryptocurrencies have come to stay and many people are joining the
industry. However, one needs to be careful when entering the niche. Beginners
who have no knowledge of how the cryptocurrencies work are at risk of losing
their money.
6. Private schools and hospitals: According to the report titled “The Business
of Education in Africa”, it is estimated that around 60 million African
students will be enrolled in private schools by the year 2021. Poor quality of
education in Africa is caused by rapid population growth, poor funding, and
corruption. Because of these problems, many African parents are looking for
private schools to enroll their children. The low-cost private education is one
of the most profitable models.
In Nigeria, the Lekki Peninsula
Affordable Schools is one of the most popular low-cost schools that charge the
lowest annual fees in the country. As more and more low-cost private schools
appear in Africa, the strong competition is expected to improve the quality of
education, lower the school fees allowing more children to get the chance of a
decent education.
When it comes to healthcare
services, public hospitals are known to be poorly funded. Moreover, a rising
number of Nigerians are seeking medical help outside Africa, for example, in
Europe, India, the Middle East and other. It means that Africa needs more
private hospitals as well as the investment of local and international
entrepreneurs. In Nigeria, there recently has been Lifebank, a startup that is
dealing with the problem of critical blood supplies delivery to hospitals in
big cities.
In Africa, more businessmen are
exploring creative ways to solving continent’s significant healthcare problems.
Their efforts will surely create millions of job opportunities in Nigeria in
2019.
We hope you found this list
lucrative of businesses to do in Nigeria in 2019 useful. There are many other
business ideas that have not been mentioned in this article. Whichever option
you like, we wish you good luck!
Culled: Naij.com
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com