Even in the unstable times like this, with the coronavirus pandemic changing the state of the business, there are still plenty of opportunities to launch a successful enterprise or invest in a promising business opportunity. Here are 7 business and investment opportunities in Nigeria with the highest chance of success.
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When you walk through most Nigerian cities, you will see dozens of construction sites everywhere. New business centres, schools, residential buildings, and private homes are being constructed as you read this article. Starting a full-service construction firm or focusing on just one aspect of the construction business is something that will always find demand in Nigeria.
Read more: Cost Of Building Materials In Nigeria 2020
2. Media company
Even with the variety of resources on the internet, millions of people rely on radio and TV for their news, entertainment, and even weather forecasts. In some Nigerian states, the media market is oversaturated, but in many states, people are hungry for quality, informative content created by private companies without an agenda, and this is exactly what you can build.
Considering the cost of airline transportation and the state of railway in Nigeria, automotive transportation remains the only real way to carry goods between cities and states. A small transportation company can be started with just a couple of trucks. And if you are operating on a small budget, you can begin your transportation business without purchasing the truck itself – leasing the vehicle is also a fantastic option.
No matter how advanced the technology may get and how technology-oriented some new businesses are, agriculture hasn’t lost one bit of its popularity among aspiring businessmen. Nigeria is a country that is ideal for exploring new farming opportunities. You can start with something familiar such as tomato or pig farming, or go for something more exotic such as snail farming. The products of your business can be not only sold domestically, but also exported overseas.
5. Phone repair
With more Nigerians owning smartphones than ever before, hundreds of those smartphones need repairing every day. A phone repair service may not be as large-scaled of a business than you have imagined, but it’s a business that will always have its share of customers as long as your services are affordable and have a high quality that customers are looking for.
6. Call centre
It’s no secret that American and European companies outsource part of their services to countries where labour is cheaper, including Nigeria. Numerous foreign countries are looking for a way to cut costs on their customer service, and outsourcing those departments to Nigeria can become your new business opportunity. You can perform those services on your own for a small company or create a call centre team for working with bigger partners.
If there is one branch of business we are confident will only continue to grow, it’s electronic commerce. It has become especially popular in Nigeria since the beginning of COVID-19, when people could no longer go offline shopping like they did before. These days, you can sell nearly anything online and it doesn’t require a big startup capital, since you can even start an e-commerce business without physically owning the product if you become a dropship seller.
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