Top 10 Nigerian Business Sectors to watch out

Business is dynamic and with every passing day, new sectors seem to appear more viable or lucrative than others. Here, I will be sharing with you 10 Nigerian business sectors where you could possibly invest because of the seeming economic viability.

Top 10 Nigerian Business Sectors to watch out

Agriculture

People are beginning to see the potential in agribusiness and many more people are working their way into this venture.  Agriculture vast encompassing fishery, poultry, crop production (cassava, corn, tomato, rice, etc), livestock /feed production, just name it. Nigeria’s fertile soil and expanse in land mass give credit to the viability of this business and have you ever thought of whom some of the wealthiest Nigerians are? Some of these people are farm owners. With the ban of importation of certain agricultural produce, demands for locally produced agricultural produce is on the rise.

E-commerce

For me, this includes anything from web design, blogging, free-lance writing, social media, digital marketing, apps development, online shopping, online tutoring, internet radio etc. The internet is everything now. It is the public space of all public spaces. Companies and brands are fast building on it, individuals and celebrities are selling their brands and products, sharing their knowledge and are cashing in on it, what more can I say? This is the future and it has already started.

Real Estate

Investing in real estate is the real deal right now. You know why? The overwhelming amount of money that comes with it isn’t a child’s play. The sector is esteemed by National Bureau of Statistics (NBS) at $40.9 billion (about N8.06 trillion), which is about 8.01 percent of Nigeria’s $510 billion total rebased GDP. Nigerians are beginning to take cognizance of this as a business, as the request for shelter will always be made, which could be attributed to the growing population of the country. House agents can attest to this.

Transportation

If you don’t know how much transport business is thriving, you are stale. With the way Nigerians travel every day, you can as well provide them another choice of transportation which offers a more relaxing and reliable journey to wherever it is. I will also like to pin out the taxi business as a means of transportation which is currently taking the wave of trend. A growing number of people are beginning to align with it especially in cities like Lagos and Abuja where there are those who always like to move in their comfort. There is an increasing turnout with it, and it is just a matter of time.

Related: Businesses you can start with Capital as low as 100K

Food/Hospitality

Whether it is run as a cafeteria, buka, mama put, eatery or fast food, food is something as humans we can never do without. This is one business which seems to never go absent. And to think, people will always cling with the mama puts and buka’s around them because of the sort of assurance they derive from their dishes, restaurant business is about to boom.

Laundry and Dry cleaning

This kind of business might look small and non-profitable, but look again and you will see something bigger. Laundry business is fast growing in Nigeria, and becoming common today. Owners of this business have continued to testify and are expecting it to thrive far more as the year goes by.

Waste management

It is interesting how recognition is gradually crawling into the waste management sector. People are constantly being reminded of environmental hazards and most are taking conscious steps on safe waste disposal and all of that. Don’t think of it as a dirty business, private organizations are emerging to cash in as well and I believe it will boom well for them as recycling business is yet to be explored.

Car wash

Prior to the kind of environment that we are, cars will always be dirty, and not everyone has that time to draw out a bucket and sponge to wash it up. Rather they are willing to take it for a thorough clean up in a car wash. When you consider the amount of cars being washed every day, you know that car wash business is serious business.

LPG – Liquefied Petroleum Gas

Consumption of cooking gas annually is estimated at 300,000 MTPA (300million KG). This is equivalent to 25% of energy consumption by Nigerians. Now with the rising use of cooking gas, visualize the sort of amount gas plant owners will be raking in. I’m sure some of us would have noticed how quickly these gas plants are being constructed in open spaces; the result is the turnover which is generated from it.

Bakery

With Nigeria’s high purchasing power and love for anything food as I’ve earlier said, bakery business will always thrive.

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