There are untapped
business opportunities in every industry both in Nigeria and all over the
world; you just need to dig deeper to find them. One of the best places to
invest your money and build a business is in a developing terrain.
Nigeria is a developing country and one of the best places to invest or build a business.
Catfish and poultry farming
The first of the fastest growing business opportunities in Nigeria is catfish farming. It’s an emerging industry that hasn’t reached its peak or full potential. The major players in this business are usually regional players.
What this means in essence is that each major player in the catfish farming industry is focused only on a particular business terrain within the geographical location of the farm.
So all you need to do is look for a region with a growing demand that has not been covered by a major player and situate your business there. As for poultry farming, the ban imposed by the Federal Government with respect to the importation of live or frozen poultry birds has only helped to explode the demand.
When accessing any of these business opportunities listed above, you must note three important facts.
One, food is one of the basic necessities of man, thus making catfish and poultry farming a huge potential.
Two,the population in Nigeria is estimated to be over 150 million and growing so that entails a growing demand for food.
Three, even if the local market with 150 million Nigerians gets saturated (which I strongly doubt as this niche is still in its adolescent phase), there is still a growing demand for catfish all over the world. So do your own in-depth analysis and put your money to work.
Importation of wears
Importation of clothes (designer wears) into Nigeria is another fast growing business opportunity you can tap into; but you will be breaking the law if you engage in this business because there is a ban by the government on the importation of wears. This business opportunity is listed for those who have the entrepreneurial guts to take calculated risk.
Another reason is that the ban cut short its supply thereby leaving a gap of demand that can only be filled by brave entrepreneurs.
Sewing of specialised uniforms
If you don’t have the entrepreneurial guts to go into the importation of wears, then you can set up a small scale textile firm that will specialise in sewing uniforms.
The demand for uniforms is on the increase in Nigeria; from the crèche to the labour market, uniforms are highly in demand but it is advisable you do your own detailed research before venturing into the business.
Inland water way transport
Inland water way transport is one of the fastest growing business opportunities in Nigeria. In fact, This is still untapped because no modern commercial boat or ferry service system has been seen in Nigeria yet. Though there are a few operators in this industry; there are no modern facilities being used by the developed countries.
Another reason inland water way transport business proves viable is because population in states such as Lagos, Ogun State and Rivers, is rapidly on the rise thereby resulting in roads congestion.
Since the roads are becoming heavily congested, the next means of transportation for these heavily populated states is water transport.
With proper planning, a good management team and adequate funding, you can break into this untapped industry and carve a niche for your business.
Haulage and logistics
Haulage and logistics is another fast growing business opportunity in Nigeria. Though it is considered a risky business, you can have a breakthrough if you have a strategic business management team on ground. Good management is the key to surviving in the business of haulage and logistics.
Out-sourced bus service
This is similar to haulage and logistics but the cargo in this case is humans. This is not about the regular road transport bus service.
Now in this case, you are providing transportation services to firms and corporate entities.
Some corporate organisations can’t afford an in-house transport system for their executive and staff, so this is where you come in. You provide the cars or buses, provide the drivers and you are paid on a monthly basis or contract basis for the use of your transport services.
Another area of target is schools. Most schools would like to provide transport facilities for their students but they can’t afford it and this is where you step in.
You provide a bus service system and send out a proposal to schools to use your bus services. Just imagine 20 or more young schools jointly using your student bus service system and you will catch the vision of this idea.
Information and communication technology
When it comes to ICT, Nigeria is lagging behind compared to the western world. It may sound like bad news to you but to entrepreneurs and investors, it is good news.
ICT is still an emerging trend that has not reached its peak, so a lot of opportunities exist for both local and foreign investors.
Cyber café
The demand to stay connected to the rest of the world is rapidly on the increase and the cost of internet connection is still high when compared to what is obtainable in the western world, thereby making cyber café an alternative for internet users; and an investment opportunity for entrepreneurs.
This business can be started either on a small, medium or large scale but preferably a large scale because size can be a competitive edge for you as customers won’t like to be kept waiting.
Customers of this industry want speed and efficient service and most importantly; they want to be sure to find a vacant computer system anytime they want to surf the web without having to wait in a queue. If you can get a good location; provide speedy internet access and provide complementary services; you are in for a breakthrough.
E-Services
Just as the world is going e-crazy; so also is Nigeria catching up with the trend. E-services provision is still a virgin business opportunity that has not fully been tapped.
Under the umbrella of e-services; you can find the following fast growing business opportunities: E-payment, bulk SMS services, web design and hosting, database management services, e-portal management, etc.
Schools
The need for education is on the increase and the burden to provide quality education is getting heavier for the government to bear thereby, leaving room for private and institutional investors.
A lot of institutional and private investors have gone into building quality schools and providing quality education but this has not been maximized. With a population of over 150 million Nigerians, where 65 per cent are below 40, there is still untapped potential in this area.
You can access this business opportunity from different entry levels. You can tap into this niche by providing either crèche, primary, secondary or tertiary education; but all entry levels hold strong good rewards. Carry out your own analysis before investing in any level of these opportunities.
Seminars
Not everyone loves being educated within the four walls of school. Some prefer street smart education or high speed learning and that is where you come in. You can set up a seminar company that organises coaching services according to the current needs and trends of the society.
Training centres
Specialised training or educational centre is another fast growing yet untapped business opportunity in Nigeria. Examples of specialised learning centres are leadership training schools, entrepreneurial centres, training centre for the gifted and physically challenged, training centre for hobbies and crafts.
Tutorial centres
With the proliferation of academic and professional exams, tutorial centres have joined the list of fast growing business opportunities in Nigeria.
You can access this business opportunity by choosing or specialising on a training need. You can focus your proposed tutorial centre on any of the following: ICAN, GMAT, WAEC, JAMB, GSCE, CIS, job interview training, etc.
Nigeria is a developing country and one of the best places to invest or build a business.
Catfish and poultry farming
The first of the fastest growing business opportunities in Nigeria is catfish farming. It’s an emerging industry that hasn’t reached its peak or full potential. The major players in this business are usually regional players.
What this means in essence is that each major player in the catfish farming industry is focused only on a particular business terrain within the geographical location of the farm.
So all you need to do is look for a region with a growing demand that has not been covered by a major player and situate your business there. As for poultry farming, the ban imposed by the Federal Government with respect to the importation of live or frozen poultry birds has only helped to explode the demand.
When accessing any of these business opportunities listed above, you must note three important facts.
One, food is one of the basic necessities of man, thus making catfish and poultry farming a huge potential.
Two,the population in Nigeria is estimated to be over 150 million and growing so that entails a growing demand for food.
Three, even if the local market with 150 million Nigerians gets saturated (which I strongly doubt as this niche is still in its adolescent phase), there is still a growing demand for catfish all over the world. So do your own in-depth analysis and put your money to work.
Importation of wears
Importation of clothes (designer wears) into Nigeria is another fast growing business opportunity you can tap into; but you will be breaking the law if you engage in this business because there is a ban by the government on the importation of wears. This business opportunity is listed for those who have the entrepreneurial guts to take calculated risk.
Another reason is that the ban cut short its supply thereby leaving a gap of demand that can only be filled by brave entrepreneurs.
Sewing of specialised uniforms
If you don’t have the entrepreneurial guts to go into the importation of wears, then you can set up a small scale textile firm that will specialise in sewing uniforms.
The demand for uniforms is on the increase in Nigeria; from the crèche to the labour market, uniforms are highly in demand but it is advisable you do your own detailed research before venturing into the business.
Inland water way transport
Inland water way transport is one of the fastest growing business opportunities in Nigeria. In fact, This is still untapped because no modern commercial boat or ferry service system has been seen in Nigeria yet. Though there are a few operators in this industry; there are no modern facilities being used by the developed countries.
Another reason inland water way transport business proves viable is because population in states such as Lagos, Ogun State and Rivers, is rapidly on the rise thereby resulting in roads congestion.
Since the roads are becoming heavily congested, the next means of transportation for these heavily populated states is water transport.
With proper planning, a good management team and adequate funding, you can break into this untapped industry and carve a niche for your business.
Haulage and logistics
Haulage and logistics is another fast growing business opportunity in Nigeria. Though it is considered a risky business, you can have a breakthrough if you have a strategic business management team on ground. Good management is the key to surviving in the business of haulage and logistics.
Out-sourced bus service
This is similar to haulage and logistics but the cargo in this case is humans. This is not about the regular road transport bus service.
Now in this case, you are providing transportation services to firms and corporate entities.
Some corporate organisations can’t afford an in-house transport system for their executive and staff, so this is where you come in. You provide the cars or buses, provide the drivers and you are paid on a monthly basis or contract basis for the use of your transport services.
Another area of target is schools. Most schools would like to provide transport facilities for their students but they can’t afford it and this is where you step in.
You provide a bus service system and send out a proposal to schools to use your bus services. Just imagine 20 or more young schools jointly using your student bus service system and you will catch the vision of this idea.
Information and communication technology
When it comes to ICT, Nigeria is lagging behind compared to the western world. It may sound like bad news to you but to entrepreneurs and investors, it is good news.
ICT is still an emerging trend that has not reached its peak, so a lot of opportunities exist for both local and foreign investors.
Cyber café
The demand to stay connected to the rest of the world is rapidly on the increase and the cost of internet connection is still high when compared to what is obtainable in the western world, thereby making cyber café an alternative for internet users; and an investment opportunity for entrepreneurs.
This business can be started either on a small, medium or large scale but preferably a large scale because size can be a competitive edge for you as customers won’t like to be kept waiting.
Customers of this industry want speed and efficient service and most importantly; they want to be sure to find a vacant computer system anytime they want to surf the web without having to wait in a queue. If you can get a good location; provide speedy internet access and provide complementary services; you are in for a breakthrough.
E-Services
Just as the world is going e-crazy; so also is Nigeria catching up with the trend. E-services provision is still a virgin business opportunity that has not fully been tapped.
Under the umbrella of e-services; you can find the following fast growing business opportunities: E-payment, bulk SMS services, web design and hosting, database management services, e-portal management, etc.
Schools
The need for education is on the increase and the burden to provide quality education is getting heavier for the government to bear thereby, leaving room for private and institutional investors.
A lot of institutional and private investors have gone into building quality schools and providing quality education but this has not been maximized. With a population of over 150 million Nigerians, where 65 per cent are below 40, there is still untapped potential in this area.
You can access this business opportunity from different entry levels. You can tap into this niche by providing either crèche, primary, secondary or tertiary education; but all entry levels hold strong good rewards. Carry out your own analysis before investing in any level of these opportunities.
Seminars
Not everyone loves being educated within the four walls of school. Some prefer street smart education or high speed learning and that is where you come in. You can set up a seminar company that organises coaching services according to the current needs and trends of the society.
Training centres
Specialised training or educational centre is another fast growing yet untapped business opportunity in Nigeria. Examples of specialised learning centres are leadership training schools, entrepreneurial centres, training centre for the gifted and physically challenged, training centre for hobbies and crafts.
Tutorial centres
With the proliferation of academic and professional exams, tutorial centres have joined the list of fast growing business opportunities in Nigeria.
You can access this business opportunity by choosing or specialising on a training need. You can focus your proposed tutorial centre on any of the following: ICAN, GMAT, WAEC, JAMB, GSCE, CIS, job interview training, etc.
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