Nigeria, one of the world’s biggest emerging markets and an economic powerhouse on the African continent, is showing immense promise of being at par with the best economies on the planet. Its population does not only makes it the largest African nation but also places it as one of the world’s youngest with nearly 65% of them below 25 years of age! Despite its recent challenges with peace and stability, the Nigerian market is growing at a great pace and continues to be one of the favorite destinations for new businesses.
To make the most of Nigeria’s booming business environment, we will help you go through the best ideas for some of the most profitable small-scale businesses for 2019.
Food and Agriculture
Nigeria’s is forecast to go through a population explosion over the course of the next few decades potentially making it one of the major food consuming markets on the planet. It is also a great option to invest your capital in for quick returns and a secure long term growth. Some great ideas about the agro-food industry are snack foods, party drinks, baking items and small chops; raw material like rice, bean flour and wheat also present great prospects.
Digital Marketing and Consulting
Technology is constantly making things interesting for investors in Africa as huge chunks of the African population are increasingly getting digitized with every passing day. Their financial-tech entrepreneurs are working day and night to make internet and digital services accessible to majority of the population so that they can use financial services like remote payments, online investments, banking and international money transferring. You can play a very profiting hand in this expanding sector in Nigeria by helping these technologies market themselves effectively to the masses. Media consulting will also be a huge business in the coming years as the need for influencers and audience-building will get traction.
Education and online coaching
As one of the youngest nations in the world, an astonishing 65% of the Nigerian population is under 25 years of age and no amount of schools or educational institutes currently in the country can cater for the them all. Those of them who can afford it do everything to take it seriously. The education sector, on ground or on the internet, is a very promising investment potential for any entrepreneur. People are willing to learn new skills and taking courses or tutorials from the ease of their homes on online tutoring academies.
Dropshipping in Nigeria is a huge problem and young Nigerians get immense difficulty when receiving international payments and transactions.
People are rapidly taking up this mode of business because of its lucrative potential and the promise of a perfect passive income.
One thing is for sure, Nigerians are passionate foodies. Catering services can cover the provisions of party foods, continental foods and local cuisines that are at the heart of any Nigerian event or celebration. All you need is a little team of chefs and logistic operators, cooking utensils and sheer will to help you propel your business startup.