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40 Business Ideas in Nigeria That Will Make You Rich

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Today, I bring to you a collection of 40 specially selected business ideas which you can implement and get rich here in Nigeria. Note, however, that some of these businesses would take some time to materialize and bring you the needed returns. Others, could bring you wealth in a matter of months. It’s now up to you to choose what suits you.

See the business ideas below: 

(1) Start A Loan-giving Business

In a country like Nigeria with a vast number of businesses and persons in need of financial assistance, loaning can be a lucrative venture to go into. The reason why many cannot obtain loans from banks is that bank loans usually come with high interest charges and strenuous paperwork.

You can use this to your advantage.

You can get small business owners who are in need of loans to borrow from you to pay back the loaned sum with a relatively small percentage interest on top.

For example loaning N100,000 for a 3% interest rate per week would be a welcome idea to many people and businesses. The more clients that you have, the more profits you would make from this business.

(2) Go Into Micro-Farming

Micro farming is something anyone can undertake. It is relatively cheap to do and does not require much technical skills. You can sell your produce in the markets and food stores or set up your own store and sell your goods there.

Here is a list of crops and farm products that thrive well in Nigeria: vegetables, fruits, poultry birds and eggs, livestock, goat, cow, Pig farming, and fishes. These are goods that sell fast and which buyers are not in short supply at any time of the year. Just grow the products and supply to the market.

To start, you’d need a little capital. As the business grows, you simply expand especially on infrastructure and man power to make more profits.

(3) Start a Crèche

It is shown in the Nigerian Census report that an average of 5 million babies are born every year in Nigeria. Children can be quite stressful to control and cared for which is why if you are skilled in childcare you can leverage this opportunity offering child-care and child-support services for a pay.

Child care centers or Crèches have continued to boom and rise due to the noticeable safety and care they give to children. For this business, you don’t need to rent a building or house for the start. You can simply convert your residence to a child care center and start from there.

All you need to do is inform your neighbors and parents whom you feel need someone to take care of their children while they’re away. On their return, they would pick their children or maybe have you bring them (the kids) to them.

You can spend an average of 3 -5 hours daily doing this. Believe me, it is a very lucrative business with relatively low cost of operation.

(4) Start A Business Focused On Tourists

Nigeria has been known as a tourism destination for decades. From waterfalls, mountains, hills and valleys to forests and wildlife, we have it all.

You can turn the ever-increasing tourism interest in Nigeria to your advantage by offering visiting tourist products and services that make their stay more comfortable. You’d charge a reasonable amount for these products and service and make a decent living from this.

Some products that you could sell include Souvenirs, Tour guide services, Drinks, Snacks, and fresh food items.

(5) Start A Snail Farm

The requirements to establish a snail farming business in Nigeria is very small. The most important resource you would need is a sizeable piece of land where your farm would be sited. The land must be fenced so that the snails do not escape or get eaten by other animals.

If you don’t have enough money to buy a separate land, you can simply start the business from home, raising the snails in Car tires.

There are many species of snails in Nigeria. This is because our climate allows them to survive easily and grow healthily. Before starting a snail farm, however, endeavor to check if there are laws that prohibit snail rearing in your locality or which regulate it. Nigeria is a very religious country. You can’t tell if raising snails is a taboo where you live. Unless you know the area well and there would be no problem, check with the authorities first before you embark on this business.

Snails can make meals awesome and have been used to prepare special delicacies which are consumed at home and for a sale. Many people enjoy snail meat. As such you have a market for the business already. You have an option to sell the life snails or kill and prepare them and sell to those who need them in a packaged form.

(6) Start A Microbrewery

A brewery is a place for making drinks and beverages. The customer base for brewery products is very high in Nigeria as both the old and the young in the country drink at least one variety of brewery products.

If you take into consideration the statistics of beer consumption in the country alone, you will see that it is a very profitable venture. Microbreweries have been a trend that has lasted for long in the United States (U.S.) and European countries. There are still little trends of this business in Nigeria and this is why you can make decent income if you go into this field.

By Microbrewery, I am referring to a smaller-size of a brewery. All you need is the knowledge of the crafting and how to beat the competition and serve a bigger market. For example, if you want to go into beers, make quality beers. Examples of microbrewery products are Okogoro a.k. Local Gin, Local Spirits, Palmwine, and locally manufactured ethanol extracts.

The more buyers that you have the more money you make from this business. So, try to stand out and be the best in this industry.

40 business ideas

Compiling 40 Business Ideas in Nigeria that Will Make You Rich

(7) Make and Sell Fresh Fruit Juices

With fruit juices, you can never run out of customers. This is because everyone loves a type of fruit or the other. Before you venture into it, take a statistics of the fruits that people are mostly interested in around where you live or in the town/state generally and buy them in large quantities.

Now, extract the liquid contents of the fruits and store them in a cool environment like a Fridge so that they retain the freshness and taste for several hours. Unlike most synthesized, carbonated drinks with preservatives, these days many people love their drinks in the natural form, free from chemical additives.

A few examples of fruits most widely consumed and which you could use to make fruit juice are Pineapples, Lemons, Oranges, and Apples.

(8) Start Snacks Shop

This needs no introduction; you’ve seen them all around you. But have you considered starting a mini-shop where you sell mainly snacks and in-between meals? If not, consider starting one soon. You could sell any of these in your shop:  ice creams, popcorn, kebabs, bread, jams, sandwiches, cakes, chocolate, sweets, and French fries.

(9) Go Into Agro Products Processing

The agricultural sector in Nigeria is a highly lucrative sector and you can make a lot of profits from it if you engage in it appropriately. All over the country, there is an increasing demand for Made-in-Nigeria products including farm products. You can turn this to your advantage by turning raw agricultural products like Milk, Cheese, Rice, Millet, Cowpea, Maize, and Cassava into processed agro products.

(10) Start General Provision Shop

We all go to the nearest local shop to buy domestic things that we need daily in our homes. This includes Food Products, Drinks, Newspapers, Sugar, Salt, Soap, Rice, Beans, etc. These are all things that we use in homes every day. If you could sell them you could generate income for yourself.

Besides the ones listed and explained above, below are 30 other business ideas in Nigeria that can make you rich over time:

  1. Starting a cosmetics shop
  2. Establishing a private security firm
  3. Starting sewing and tailoring business
  4. Offering Tutorial/Lesson services to students and examination candidates
  5. Setting up a web-store or ecommerce portal
  6. Creating an online job portal or online job board
  7. Establishing a Cyber Café
  8. Soap making
  9. Selling of second-hand (“Tokumbo”, “Akrika”) products
  10. Doing Vehicle Repairs
  11. Offering car driving services
  12. Doing Motorcycle transport services (Okada business)
  13. Carpentry
  14. Jewelry Production
  15. Billboard business
  16. Setting up a tourist shops near a tourist site
  17. Opening a restaurant
  18. Doing Food Truck business
  19. Starting a mini bank (i.e., Sumobank, Okash)
  20. Start cosmetic shop
  21. Offering E-Learning services
  22. Water production and supply
  23. Provision of Internet services to both commercial and private companies
  24. Offering graphic and video editing services
  25. Consultancy services
  26. Offering Solar Energy installation and Repair services
  27. Go into soup-making business
  28. Establish a Cement Factory
  29. Do Blocks/Brick Moulding business.
  30. Open a building materials shop.

There are a thousand and one things that you can do to get rich in Nigeria today. However, the truth is that wealth does not happen overnight. You may need at least 5 years to make good returns from some of these businesses, save them and re-invest to finally get rich.

If you would not wait this long, get a salary job and live average. However, if you can wait and grow any of these business, you’d rejoice in a few years from now. Till then, I wish you the very best.

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Ekemini Ekpo develops and manages quality contents for web & non-web media. He writes technical papers too, builds startups and leverages on online opportunities.

Business

How to Make Money on Facebook-A Full Guide

Odi Chukwuemeka Valentine

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How To Make Money On Facebook-A Full Guide

 

Facebook is one of the top-ranking social media networks. It was launched on February 4,  2004, by Mark Zuckerberg. Over the years, it has evolved with many reforms one of which is growing from a platform for mere chats to a platform for making money. This article particularly discusses how to make money on Facebook.

With over 2.7 billion monthly active users as of the end of the second quarter of 2020, Facebook is the biggest social network worldwide. As of the third quarter of 2012, Facebook had over 1 billion users, becoming the first social media to hit the billion mark.

The essence of putting out these figures is to stimulate your minds about opportunities that abound on the widely used social media platform. At least, four persons in a family of six are on Facebook. On average, people spend not less than 30 minutes on Facebook in a day, while others spend over an hour.

Interestingly, Facebook creates room for partnership opportunities for its users across the globe. Read carefully to get information on how you can earn big from World’s number one social media network.

 

How To Make Money On Facebook-A Full Guide

  1. Become an Influencer on Facebook.

Social media influencers are people with large followership on social networks whose opinions on topics of discussion are largely supported by the public in most cases. How can one become an influencer? It requires consistency by engaging the public to create a strong social media presence.

A person who has over 2000 friends on friends or followers on Facebook can easily become an influencer. To succeed in getting the attention of your friends or followers, you would have to adapt to the ‘Top of the mind awareness.’ This simply means making posts consistently, even when people do not react to it. It will interest you to know that amongst those who only read through news feeds, there are persons taking note of your consistency.

Oftentimes, the type of posts people make on Facebook to some extent is dependent on the type of audience they have. As such, your audience is inclined to react to your posts or even sharing them if it appeals to their reading pleasure.

Once you have been able to establish your presence online, there are organizations that are ready to pay you thousands of naira to advertise their products, goods, or services either on your Facebook profile or Facebook page.

It is possible to have the organizations contact you directly, however, there are certain platforms that play the role of a middleman between you and the organizations. Hence, these platforms help you reach them.

Such platforms are Dealspotr, Ifluenz, and Famebit. Although the aforementioned are not the only platforms, there are several others when you search the internet. How do these platforms work?

By signing up on these platforms, you link up your profile or pages on their website. You can able to write and submit proposals to brands through them. The platforms enable you to secure sponsorship deals and through these sponsorships, you could earn a good amount of money.

 

  1. Manage a Facebook Page

Another interesting way of making money on Facebook is by becoming a Facebook page manager. A person who truly understands everything about Facebook is capable of engaging the audience, consistent content creation, and running Facebook Ads.

Such a person has the potentials of becoming a successful Facebook manager. For example, the just concluded Big Brother Naija Reality Tv show had individuals that managed the social media handles of the Housemates. These persons had the fans entertained with posts about their favorite housemates that kept the fans delighted.

These managers were paid thousands of naira for a job well done. Social media manager jobs can be part-time or full-time depending on the agreed terms and conditions. In either way, the job is rewarding. Celebrities and organizations hire staff specifically to manage their social media handles.

Social media manager jobs can be found on job advertising websites or freelancing websites like Fiverr.com, Upwork, etc.

 

  1. Create a Business page and sell your items

Taking into consideration the number of active users on Facebook, with the right business strategy, you can make Facebook your online shop and earn a huge sum of money. Like, I stated earlier, at least, every four persons in a family of six, has a Facebook account.

It further shows your business can thrive on Facebook. All types of items can be sold on Facebook. Such items can be cars, jewelry, electronics, furniture, shoes, groceries, etc.

The right guide to setting out begins by creating a business page. The following screenshots will be helpful while creating a page:

To create a new page, click on the circled icon

 

Then carefully follow the instructions to fill the form. Afterward, your page is set!

Upon the creattion of your page, you could decide to copy the links and share it with your friends on various platforms for publicity.

 

  1. Sell your Facebook Profile.

Selling of Facebook account or page is another interesting aspect of how to make money on Facebook. However, there are certain standards that Facebook or Profile is expected to meet.

It must have established a good online presence, good engagement, and niche. One of the niches that sell well is entertainment and sports-based pages.

Have you ever gotten a notification on Facebook that reads “A page you follow has changed its name to so so so…?” or have you suddenly seen a strange name on your timeline? You wonder when and how you became friends with such a person? Our minds quickly point to a hacked account. You should also know an account or page can be sold.

A Facebook account or page can be sold for $50 to $500 or more. Good followership and engagement increase the price of an or page. You can sell up to $20, 000 on rare occasions.

You can sell your Facebook account or page on platforms like Viral Accounts or make a post indicating your willingness to sell. Either way.

 

  1. Generate Traffic.

Of the discussed ways of how to make money on Facebook so far, generation of traffic to websites or blogs have been practiced more. Generating traffic entails using a Facebook profile or Facebook page to drive traffic to blogs, websites, or email lists.

It’s interesting to know that website creators or bloggers make money from traffics gotten on their websites or blogs. Hence, you see people creating controversial content. Controversies sell best than good news. So they gain from controversies especially sex scandals.

To get started, you can either begin by engaging the audience on your Facebook profile or Facebook page through making consistent posts. You could decide to make a controversial post that will go viral and increase your followership.

Read also How To Increase Your Blog Search Traffic in Nigeria

Afterward, you can create a website or blog. For each post, you make on the website, copy the link, and repost either on your Facebook profile or Facebook page. You will be earning big for every click.

For example, the likes of Yabaleft and Gistreel makes use of this method. They are known for generating traffics to their blogs through celebrity gossips, controversial posts, jumping on trending topics, and lot more on their Facebook pages.

 

  1. Affiliate Marketing.

Another important component of how to make money on Facebook is becoming an affiliate marketer. Affiliate marketing means promoting businesses of other people and getting paid (commission) for every sale made.

To become an affiliate marketer on Facebook, you could either use your Facebook profile or page. It is advisable to be known for a particular thing online. Not a Jack of all trade kind of thing. Pick out a niche, build, and engage your audience around it.

One can create a Facebook page and create steady content on ANYTHING. So long it appeals to the reading pleasures of your audience. It could be a lifestyle, football, fashion, music, etc.

Afterward, sign up with an affiliate network. Link up your Facebook profile or page with the affiliate network. For example, an affiliate network that deals with organic skincare products. All you will do is write reviews of such products, with pictures or videos then attach your link below.

For every interested person that clicks on the links and goes further to ‘buy,’ you will be paid commission for the sale. Your job ends there. You can imagine the number of sales they could be making through your link. That’s a huge sum of money on your side as well.

Read also: Affiliate Marketing In Nigeria 2020: Top 6 Affiliate Marketing Programs in Nigeria

 

  1. Become a member of a Facebook Audience Network.

Facebook Audience Network was initiated by Facebook to enable its users to monetize their works on the platform. It is related to Google AdSense.

A person who has good followership on his/her page can savor every bit of this opportunity. There is this joy that comes with people ‘liking’ your videos, pictures, or articles posted on Facebook. However, it boosts your ego, not your account.

Facebook Audience Network has been created to both boost your ego and enrich your pockets as well. Interesting, yeah?

Facebook Audience Network also offers app developers to partner with Facebook. Such apps like ‘Face App’ that shows how you will look like at old age or the recent ‘Avatar app’ are all products of Facebook Audience Network.

It is pertinent to note that you can only be able to join Facebook Audience Network with your Facebook page and not Facebook Profile. Hence, you would have to create a Facebook page, grow your audience to an appreciable base before signing up for a Facebook Audience Network.

 

Summary

In summary, the era where people just login to their Facebook accounts to chat, gist, read news, post pictures, and videos to canverse for ‘likes’ are gone. People now make cool money using Facebook. Although the place of consistency and data consumption should not be overruled. But like football strikers, you can shoot a shot on target on either of the discussed aspects. Best believe you will score!

 

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