There are many lucrative business ideas out there that can fetch you good earnings as an entrepreneur in Nigeria or Africa.
News Rain Nigeria have listed some of them below.
Activities related to salt production:
Salt sounds like a common commodity, but its marketability lies in the fact that people can’t live without it every day! You can run a lucrative salt production or distribution business.
The biscuit industry has grown a lot and many players are involved. After all, it’s still a lucrative business idea for new startups. With good control, creativity, branding, and a distribution network, you can build a cake-making empire.
Check-out Businesses That Will Fetch You N150,000 Monthly
Warehouses for the production of orange juice:
World orange juice production is expected to reach $ 29 billion by 2021, with Nigeria supplying more than 900 tonnes. Launching an orange juice store puts you on the radar of juice stores with great prospects.
If your focus is on agriculture, a garlic farm may be the right choice for you, especially if you have enough capital to invest in large mechanized garlic production.
Renewable Energy Industry:
Renewable energy is the future of energy. Digging into any renewable energy company of your choice (wind, biofuels, or solar) while you are just starting out will be a valuable long-term investment.
Potato flour production shops:
The discovery of new recipes continues the health benefits of non-wheat flour. Potato flour is used to thicken sauces and soups. Increasing demand is a greater opportunity for business.
Solar energy industry:
Today, people and businesses across Africa are starting to use solar energy while neglecting the public grid. While solar panels are more than the capacity of many people, it is only a matter of time before the sun becomes the norm in all businesses and homes.
Web design company:
The world in Africa has gone digital so fast. Bloggers, webmasters, and businesses now need web designer services to build websites that respond to their business activities.
Electronic waste warehouse:
Starting an e-waste collection business is a step in the right direction to maximize available resources. It requires little capital and can turn into a big business if you have the right recycling network in place.
Paper Recycling Shop:
Spreading paper waste makes paper recycling a very profitable business for everyone involved. If you don’t have a business budget, start recycling from offices, schools, and so on. Submit it in advance to recycling companies.
Shops and wind power:
Wind farms, large companies, etc. These are just a few of the areas that always need wind power services. With the development of the wind power market in this part of the world, the wind power industry is expected to grow.
Activities related to biofuel production:
As of 2019, the global biofuels market has reached $ 136 billion. Market statistics show that this value could rise to more than $ 150 billion by 2024. Biofuel production is plentiful, but the potential gains are huge!
Nigerians are lovers of the “good life”. Breweries are a frequent resort for people after a hard day’s work. You can set up a mini brewery with up to 150,000 and develop it over time.
Egg incubation requires sufficient capital for the equipment, but a narrow distribution channel can create a folding egg store for many Naira stores.
Shea oil production activities:
Homemade shea butter is one of Africa’s untapped resources. It has many health benefits that increase its value in the food and health manufacturing industries.
This lucrative business idea is a key component of the fashion industry, costing more than $ 1.4 trillion. Whether you are interested in clothing, shoes or other fashion accessories, a boutique is a great business opportunity for everyone.
Another lucrative agricultural business idea worth mentioning is mandarin cultivation. Growing mandarins create business opportunities in the health and beverage industry. With such a large market, the mandarin farmer will never be in demand for you.
Peanut butter production:
While some people are picky about the type of butter they consume to produce peanut butter for the right purpose, it can have many benefits.
Powder production shops in Arabic:
The Arab rubber powder industry is in limited demand, but with the right business strategy, it can be produced for the right audience as well as raise awareness about its benefits.
Ketchup is rich in healthy nutrients and can also be used as a preservative. The ketchup market is endless, so you can make a lucrative interest in the production, packaging and distribution of ketchup in the right market.
There are many lucrative business ideas out there, especially for you to start as an entrepreneur in Nigeria or Africa. These range from small equity firms such as palm wine production to advanced ones such as organic production. Whatever business idea you are interested in, you can bring it to life with the right business strategy!