The worst thing you can do as a businessman is to invest in an unprofitable business. It’s like making a bad gamble, betting on unreasonable odds, you simply lose all your stake. And that’s the worst feeling for a businessman, losing. So, before you go into a business, you have to confirm that it is indeed profitable and rewarding.
Therefore, based on recent checks and after taking some feasibility studies, I have compiled a list of the most profitable businesses which one can do in Nigeria in 2017. Check them out.
Top 20 Profitable Businesses You Can Do In Nigeria In 2017
1. Internet Businesses and Investment
This is the hottest thing in the market these days. Internet businesses are springing up like mushrooms everywhere and not just for any reason, it’s because it is extremely profitable if you do it right. There are lots of options and lots of avenues you can pursue in internet businesses and they are mostly guaranteed to enrich your pocket at the end of the day. Be careful though, it’s very easy to get lost in the air in this kind of business.
2. Poultry Farming
We are in a country of really festive and fun-loving people. And what looks more festive than a well-roasted poultry bird sitting in the middle of the table? Nothing I tell you. Poultry farming is a really profitable business in Nigeria with huge returns. But it requires good management and a reasonable amount of capital.
Nigeria is a country where education is the most important aspect of everyone’s lives. Everyone wants to go to school. So the education business is a really booming enterprise. Building a school is really profitable, especially nursery, primary and secondary schools. Of course, good management is necessary and a lot of capital is involved.
4. Transportation Lines
Transportation is a necessary part of people’s daily lives. People want to travel, want to go to and come back from work and go to so many other places. Starting a transportation line in a strategic place is very profitable.
5. Building and Construction (Sales of Materials)
Nigeria is a developing country which means a lot of development is going on. Houses are being built, hotels are being built, all sort of structures are being constructed. A person dealing in sales of construction materials will practically be swimming in money.
6. Property Investments(Real Estate)
Real Estate is still as at now an unpopulated sector in the country’s economy. There are so few real estate investors that each one is practically a monopolist in their area. So anyone investing in the real estate business currently has a whole lot of money to make.
7. Hotels and Rooming Services
As said earlier, we are fun loving people and we love to relax a lot. So why not provide a place for people to relax. This is one of the most popular businesses currently, for people with the capital to invest in it.
8. Oil and Gas Businesses
This is the mainstay of the country’s economy and not just due to foreign exportation but also local sales. Building a filling station on or becoming a fuel contractor is very profitable and good to invest in.
9. Crop Farming
This is a seriously neglected part of the country’s economy. Agriculture is a very profitable and necessary part of any country’s economy and as such is a great business to invest in. Growing crops like rice, cassava, and yams which are the staple foods of the people will make you very rich. Most especially rice, which we do not grow locally but have to import from other countries. Growing and processing and proper packaging of local rice will be very profitable.
10. Importation of Used Items
Importation is also a good business in Nigeria. People these days mostly prefer to buy used products from overseas which are of good quality than the new ones made in the country which are usually of inferior quality. Importing items like used clothes, used automobile parts and so on is very profitable.
11. Fast food Joints
Fast food joints are one of the hottest prospects in town now. Eatery chains are being opened all over to provide good food for people on the go and a lot of money is being made from it. The business requires proper management as well. It can easily be ruined by a bad one. It also requires considerable capital.
12. Dry Cleaning
In cities where people are working hard all days with barely any feast for them, they need people to help them take care of their domestic needs, most especially washing of clothes. So if a dry cleaning business is done right and done where proper, there is a lot of potentials to make good money.
Other businesses which are quite profitable for you to do include:
13. Snail Rearing
14. Furniture Marketing
15. Haulage and Packing Services
Some of these businesses involve a lot of capital, others do not. Some requires experience and special skills. They mostly require good management and a lot of devotion and sacrifice, which are of course qualities of a good business man.
If you can things right, then you can make a truckload of money with any of these businesses. So pick the one you are interested in, start working it and good luck to you.