When you think of Nigeria, you may not think of business
opportunities, but that needs to change. The number one resource needed
for commerce is people, and Nigeria is home to over 200 million
people. Lagos, its capital city, is home to 21 million—that’s more than
2.5 times the size of New York’s population. That means there’s a lot
of potential for businesses to grow and thrive there.
Before you decide to do business in any country outside your own, you need to make sure you get a general lay of the land. You should never blindly invest in any business idea before knowing your consumer base and competition. So continue reading to learn some of the most trending business ideas in Nigeria.
Lagos is a large city where more and more people are looking for automobiles to get around. Starting a used car dealership would be a great way to start a lucrative business and meet an increasing need. You could sell American auction cars in Nigeria and have a leg up on the competition.
Here’s an interesting statistic for you, Nigerians drink more fruit juice than any other people in the world! If you want to get into a high demand market in Nigeria, then the juice industry is the one for you. More fertile areas of the country are home to various fruits. Fruit juice is costly to produce, but putting your business near an area where fruit grows will cut down your production costs significantly.
Gas And Oil
Nigeria is one of the largest producers of both crude oil and petroleum in the world. The whole world still uses fossil fuels at this point, so why not get into the industry in a country that’s a world leader in it?
You don’t have to become a big-time oil baron to find your niche in the business. You could own filling stations or transport petroleum across the country. It’s a vast field with numerous opportunities, so don’t box yourself in.
Real estate is a good market to get in almost anywhere on the planet, and Nigeria is no exception. While the market here may not be booming, it’s steady, and steady is good.
When you’re selling anything, your presentation is crucial. Your job as an entrepreneur is to get people as excited about your products and services as you are. You also need to be available to help them with any product or service-related questions at any given moment.
Virtual contact center software allows you to do just that. When people visit your site to check out a home, you can use chatbots to engage them and even set up appointments for them to meet in person. Your ability to succeed in the real estate industry in Nigeria will depend on your ability to properly implement the right technology.
Just like everyone else in the world, Nigerians love their food. In some of the major cities, it isn’t uncommon to find people who eat out for every meal. Restaurants can be expensive to start, but you can start as a roadside vendor from a food truck or kiosk. If you have a passion for culinary arts, then Nigeria has a place for you!
Invest In A Tech Startup
If you keep up with tech news, then you may have noticed that Nigerian developers have been up to some pretty amazing stuff. This country is full of talent, and investing in the right young tech startup could end up being the best business decision you ever make. When new tech blows up in popularity, it doesn’t just make millions, it makes billions.