Are you looking for investment ideas in Nigeria? SMEs in Nigeria are seen as the most effective powerhouse to boost the economic demands in the country, especially poverty reduction and employment opportunities.
Nigeria, widely regarded as the most populous black nation in the world and also known as the giant of Africa, is very rich in natural resources and human resources with much potential unexplored or under-explored.
From the South which is blessed with oil and other natural resources to the North which is blessed with gold and other resources, Nigeria is full of opportunities for anyone willing to invest. In this post, we reveal some of the most lucrative investment opportunities for SMEs in Nigeria.
What are the most profitable investment ideas in Nigeria?
There are several investment ideas to consider in Nigeria. We have put together our top five in this section.
Agriculture
Nigeria’s population is estimated to be over 200 million. One of the biggest challenges faced by the nation is feeding this large population. Nigeria has been unable to produce enough food for its population so they depend so much on importation. Meanwhile, we have all the necessary resources to succeed in the agricultural sector.
Over 84 million hectares of arable land, favorable weather, manpower, with over half of the population in our country Nigeria within the age of 0-35years, etc.
Most of the younger population is learned and agile and can become efficient in agriculture. Of course there’s the wrong notion that the young people do not fancy agriculture. However, the compensation and reward would be more than enough to convince them to go into this sector.
Fear of attracting customers is a major challenge in this sector. However, with web platforms like cokodeal.com that helps to promote locally produced goods to new and larger markets, this fear is long gone. Just by creating an online store, business people can promote their products to thousands of customers, far beyond their reach. They can do this at a very affordable cost compared to the traditional medium of promoting business.
There are many finance institutions including the Ministry of Finance in Nigeria who offer special financial assistance to Agritech-startups. Agriculture is one of the most important investment ideas in Nigeria. Investing in the Agriculture sector will be a very lucrative venture if well planned and executed. Areas of major interest include crops, livestock, transportation, farm equipment and many more.
Real Estate
Real Estate is one of the most profitable investment ideas in Nigeria. This is because of the booming population and migration to metropolitan cities such as Lagos, Abuja, Port Harcourt, etc. Investment in real estate in major cities can be a very lucrative cause to pursue.
There are many opportunities that await you in this sector. As a realtor, you will grow your income from this business through equity building, wealth generation, and appreciation. The opportunities include low cost housing, supplies of building materials, hotels, shopping complexes, and so many more. There are many aspects you can invest in real estate and make profit.
Mining
Apart from oil, Nigeria is blessed with a plethora of natural resources that have not been given much attention. An investment in these ignored areas can be very lucrative for a determined investor. The mining sector in Nigeria is way under-explored as not much has been done.
This leaves a lot of openings for potential investors who will want to have a look. Many of the resources in Nigeria are untapped and the government has continued to show signs that it is willing to cooperate with investors.
Manufacturing Industry
Nigeria is a country that is overdependent on importation for the smallest of things that you may never think of. This is not good enough for the largest economy in Africa. As the economy continues to grow, there is a need to produce so many things at home. An investment in Nigeria’s manufacturing sector will yield bountiful results.
Consecutive governments have constantly called for investment in the manufacturing sector. There are many crucial things to manufacture such as food items, water (table and sachet), fibre cables, telecommunication equipment, tyres, fashion items, and many others.
Invest in online business
Investing in online business is one of the best ways to invest and earn a monthly income. This, in particular, has become one of the most lucrative investment ideas in Nigeria since the pandemic.
Online business requires little startup funds and it is an ideal business for a first-time investor. There are so many profitable online businesses to invest in that promise to generate high monthly returns. Some of them are blogging, selling on eBay, social media influencers, and investing in software applications. Others include Forex trading, copywriting, web design, graphic design, etc.
Conclusion
There you have it for our top investment ideas in Nigeria. Which one appeals to you the most? Let us know in the comments section.