Business opportunities in Nigeria 2023

Business opportunities in Nigeria 2023 – Businesses in Nigeria are highly profitable, and the opportunities are there for anyone who loves making money. This article will show you the most profitable business in Nigeria with low capital for startups, daily income businesses in Nigeria, and fast-growing businesses in Nigeria today. Also, this post will show you the hidden business opportunities in Nigeria that are very lucrative and fetch money in no time. However, Nigeria is a land flowing with milk and honey, don’t allow these opportunities to pass you by. Read on and make your choice!

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Business opportunities in Nigeria 2023

Here are Business Opportunities just for you!

1. Oil and Gas business

The simple truth is that Nigeria and to a large extent, the world, still depend on oil and gas. As long as this trend continues, this business will continue to dominate. Oil and gas is definitely king among the most lucrative businesses in Nigeria.

Here are opportunities in the Oil and gas business:

Distribution

This is one of the most lucrative parts of the oil and gas business. But you will need a high budget to get into it. Oil and gas distributors bring in refined petroleum products into the country for distribution to different sectors.

Petrol Station

With a few million Naira, you can start a petrol station. There are so many cars in Nigeria that you will never run out of customers. Also, many people depend on petrol stations to power their generators.

Cooking gas business

Many people are so focused on Petrol that they overlook cooking gas. You can supply cooking gas to retailers or you become a retailer and refill gas for end users. Spice it up. This business is very lucrative, and it does not cost much to start. You can start small and grow!

Kerosene business

A lot of Nigerians still depend on kerosene for various reasons. Even those with cooking gas use kerosene-powered stoves as a backup. This business is very lucrative. More lucrative because not so many people are into it anymore.

Oil and Gas Transportation

You can purchase tankers and get into the business of lifting petroleum products. It could be ships. Petroleum products is like any other commodity, they need to be lifted. There are also fleet management opportunities.

Business opportunities in Nigeria 2023

2. Agriculture business

Apart from being one of the most lucrative businesses in Nigeria, the agriculture business is an evergreen business. It never gets old and never fades. As long as humanity exists, the agriculture business will continue to strive. This makes it a very important and strategic business.

However, as the government is continually looking to diversify from oil, its major focus is on agriculture. It will trigger more incentives for this sector. There is huge profit and growth waiting for anyone who ventures into the Agriculture business.

Here are some opportunities in the Agriculture business:

Snake farming

This one involves the rearing of Snakes for commercial purposes. Because of the risky nature and low competition, this business is very lucrative!

Cattle farming

Beef meat is very popular in Nigeria. Cow milk is almost as treasured as oil in Nigeria. These factors make cattle farming one of the most lucrative businesses in Nigeria.

Palm oil business

Palm oil is gold. Most of the things you use from cream to soup and many more are made from palm oil. There are many companies around the world that import palm oil from Nigeria. Furthermore, this business is very lucrative.

Cassava farming

The majority of Nigerians depend on Garri, fufu, and other products made from cassava. This business is very lucrative because the products are very much in demand. Read more here: How to start a cassava farming business in Nigeria

Poultry farming

Chicken meat, Turkey meat, and others are very popular among Nigerians, especially during festive seasons. Poultry farming is a very profitable business that anyone can start with small capital. Read more here: How to start a poultry farming business in Nigeria

Snail farming

There are so many possibilities and potential in this business.
Furthermore, there are many other agriculture business ideas apart from the above listed. Do your research and go for the one that suits you, your location, and your budget.

Business opportunities in Nigeria 2023

3. Food business

There is no way the food business will not be among the most lucrative businesses in Nigeria. This is an evergreen business. People will always eat! No matter how hard the economy is, one thing people can never do without is food.
Also, if you can find an excellent location, and acquire the right skills and personnel, you can run a successful food business. This is a business without season. It is in demand every day.

Here are some opportunities in the food business:

Franchise

Nigerians love big brands like Mr. Bigg’s and co. Some of these brands are so popular that people are loyal to a particular brand. You can find a good location in any city, with no competition or minimal competition around, and establish a fast food franchise. Mr. Bigg’s is owned by United African Company of Nigeria (UAC), you can apply to them for a franchise opportunity.
Once approved, you can open your own Mr.Bigg’s fast food and make money. If you find a good location with minimal or no competition, you will make so much money. Apart from Mr. Bigg’s, you can open any franchise of your choice.

Local restaurant

You can open a local restaurant that appeals to a particular set of food eaters. For example, you can open a “Calabar restaurant” where you serve the world-famous Edika-ikong and Affang soup. This will stand you out as people interested in these foods will look for you.
You can start an “amala restaurant” where you focus on the delicious amala dish.
When it comes to a local restaurant, having a specification can be a turning point.

Foreign and intercontinental restaurant

Foreign and intercontinental foods are becoming very popular in Nigeria. A restaurant that serves these kinds of meals attracts high-worth individuals, foreigners, and celebrities.
You can open a Chinese Restaurant, Italian restaurant, Indian restaurant, and so on. You can learn how to make dishes common in these restaurants or partner with someone who has a good understanding of it all.

Food supply business

This is a very lucrative business that you can do to make money. I know of a woman who runs this business. She supplies food at conferences, seminars, bank AGMs and so on.
The food supply business is lucrative. You need a have good cooking skills or employ someone who has. Then build a network of event planners and organizers. Also approach schools, companies, and so on. You will be amazed!

Business opportunities in Nigeria 2023

4. Hotel business

Hotel business is very lucrative and cannot be overlooked among the most lucrative businesses in Nigeria. The population of Nigeria is huge and people move from one place to another either for pleasure or business. Hotel provides shelter for them. Also, people coming into the country patronize hotels.
To succeed in hotel business, you need to either look for a less competitive environment and start-up or offer better or cheaper services in a competitive area. To supplement your income, your hotels should have an event hall that people rent for events. A bar and restaurant.

5. Transportation business

Transportation makes this list of most lucrative businesses in Nigeria and deservedly so. This is one business that you cannot do without. People are always moving. Moving to work, moving to church or mosque, moving to visit, moving from city to city. There is always movement. With over 150 million people in Nigeria on the move, this business is lucrative.
However, you can start with small capital or big capital. You can drive Uber with your car for extra income. Buy buses, okada or keke-napep. Even planes. The market is huge and very much in demand. People are always moving!

Business opportunities in Nigeria 2023

6. Social media marketing

With so many people spending most of their time on social media, social media marketing has to be among the most lucrative businesses in Nigeria.
Social media marketing is all about using social media to find leads for businesses. You can work independently and help businesses make the best of social media or you can promote and sell product via social media.

7. Fashion business

There is no way fashion business will not make it to the list of the most lucrative businesses in Nigeria. Nigerians love parties, be it weddings, birthdays, or end-of-the-year gatherings. Even during funerals, we still find a way to throw a party – a burial ceremony! For all these events, there are uniforms.
The fashion business is very much in demand. People will always wear clothes. To go to work, school, or even to sleep, people need cloth. The demand is very high.
You can go into fashion design and make amazing clothes. Also, you will have large patronize from different quarters. And you can also open a boutique and sell imported and locally made fashion items. You can do printing services, print on t-shirts and caps. Furthermore, there is also Okrika business. Remember, people will always wear cloth! The demand will always be there. However, you can also specialize in: children’s clothes, baby cloth, females, weddings, African print, and so on.

Business opportunities in Nigeria 2023

8. Dry Cleaning business

This business is very lucrative in the city. Most busy workers rely on dry cleaners for their laundry needs. Companies and organizations make use of dry cleaning services very often. However, in this business, you will always have customers if you are in the right location.

9. Pure water business

If there is one thing humans can never do without, it is water. Because of the important nature of water, the pure water business makes this list of the most lucrative businesses in Nigeria.
There are approximately 180 million people in Nigeria today and all of them drink water! That makes this business very profitable because you will always have buyers.

10. Drop-shipping business

Drop-shipping business is a very lucrative business. It gives you the opportunity to run your own online shop without a warehouse or need the need to have products.
All you have to do is open an online store, then copy inventory from manufacturers or suppliers and put them in your online shop. If anyone orders, the supplier will ship to them and you get your money!
You can start an online shop with WooCommerce, Shopify or any other platform.

Business opportunities in Nigeria 2023

11. Tutorial Classes

The most popular tutorial class in Nigeria is the computer training class, leaving other skill acquisition classes untapped. If you have any skills such as bead making, catering, juice making, solar panel installation, liquid soap production, etc.? You can monetize your skill by teaching other people.

12. Solar Panel Installation

With solar energy now becoming popular, you can be one of the first people to benefit from it by learning how to install solar panels, since there are just a few technicians that do this in every state. Solar installation is easy, you just need to acquire the skill, and start making money, as the demand for solar energy technicians keeps increasing.

13. Gym Business

With Nigerians now starting to prioritize fitness, opening a gymnasium could make you a lot of money daily in Nigeria. Although this business is kind of popular, it is unsaturated. In fact, it is hard to find a fitness instructor not to talk of a well-equipped gym in some parts of the country.

Business opportunities in Nigeria 2023

14. Mobile Car Wash

Commercial car wash is a very popular business, but mobile car wash is an untapped business in Nigeria. A mobile car wash business can also be referred to as washing cars on the spot. This is because instead of setting up a place to wash cars, you’ll be going around from office to office, one organization to another washing cars for people and getting paid.

15. Juice Production

Although, he most popular juice-like drinks in Nigeria are zobo and kunu. Fruit juice production is a new business idea in Nigeria that remains untapped across the country as it requires more equipment and skill to get started.
However, this business involves the processing of different types of fruits into a refreshing juice, to be served chilled and make money. Due to their nutritious value, fruit juices are in high demand by a lot of Nigerians, both at homes for consumption, and restaurants for sale.

Business opportunities in Nigeria 2023

16. POS Machine Business

The Point-of-Sale (POS) business, also known as the Agent Banking Business, is a legal means of earning money in Nigeria. It’s a lucrative venture in places with no banks and in urban areas where there aren’t enough ATMs to meet the demand for financial services.

17. Viewing Center Business

Football is without a doubt the most watched and popular sport in Nigeria. A lot of Nigerians are football lovers, and they are also die-hard fans of usually a specific international football club. As that, they barely miss their clubs’ matches.

Business opportunities in Nigeria 2023

Read Also:

1. Important of entrepreneurship as a global concept
2. Business Planing Process for Scale-ups
3. Business planning process: Approved Checklist
4. 20 types of profitable entrepreneurship in Nigeria
5. The objectives of feasibility study
6. Apply for Mentorship
7. Endorsed business planning quotes for all

Conclusion:

Finally, on Business opportunities in Nigeria 2023, This article has shown you the different businesses you can do here in Nigeria and make lots of money. Also, We can help you with Business Plans for big ventures like Palm plantations and oil, Airlines, NCC Application, etc. However, You can reach us today at +234 905 313 0518 or [email protected] for more information.