In this article, we will look at a list of the fastest growing businesses in Nigeria, especially for those who are looking for a business to venture into full-time, and for those who are also looking for a business that will earn them extra money.
The businesses we featured in this article is centered around businesses that attract customers and is highly profitable.
However, the high level of unemployment in Nigeria is enough reason to want to venture into a personal business to have an additional source of income.
While there are many advantages of starting your own business, the part that resonates well is where you don’t have to answer to a boss, you are your own boss, plus you also get the opportunity to build your brand from scratch, you also get to impact the economy of the nation via your business idea.
Are you looking for hot business ideas in Nigeria that will skyrocket your finance to another level?
Below is a list of fast growing businesses in Nigeria that one can venture into immediately.
List of Fastest Growing Businesses in Nigeria
1. Real Estate
Real estate poses one of the hottest business ideas in Nigeria and the world at large. It has made a lot of the rich men we see around us today.
The real estate business has to do with renting, leasing, flipping, and selling properties. The business is capital intensive and so, if you are looking at venturing into it, you can start as an agent by simply standing as a middleman between Landlord and tenants, as well as property sellers and buyers. Although, that is popularly known as house agents or simply agents.
What this means is that you will help home seekers find a property of choice, as well as you will help sellers sought for buyers at a commission that is left to you.
Significantly, you can also buy landed properties, keep them and wait till it appreciates before selling.
However, if you wish to venture into this kind of business, I will advise that you seek the expertise of professionals so as not to be a victim of a scam.
When you talk about a business that has achieved a feat in the online space? Blogging is one of them especially now that news, and videos, can be accessed online without having to step out of your house to a newspaper joint.
Bloggers however make their money via ad networks, sponsored ads, affiliate marketing, website flipping, digital product sales, and a lot more.
This business can drive home more than $1000 or ₦600,000 per month if you know the right thing to do and you are consistent with posting your content.
All that is needed for you to start up your own blog is a domain name and Webhosting which you can get at quite an affordable rate.
I will advise you to learn a lot about search engine optimization (SEO), as well as content writing if you seek to venture into this business. The blogging business is growing at the speed of light than expected.
3. Content Writing
A lot of folks don’t know that content creation is one of the fastest growing businesses in Nigeria. Once you have acquired content writing skills, you can sort for gigs on Fiverr, Upwork, Peopleperhour, and other job freelancing platforms.
Interestingly, a lot of politicians, business owners, companies, etc. are on the lookout for content creators, because content creation is how a brand is creatively presented to its target audience.
Once you have honed your content writing skills to an admirable level, you can start to reach out to some of these brands via their social media platform.
Another way to make a wave in the content creation business is to look out for a community of bloggers, these people tend to need content writers for their blogs.
You can leverage this as a beginner
4. Transport Business
Still, looking for one of the fastest businesses in Nigeria to venture into? the transport business is an ace in this category and surprisingly a lot of folks don’t want to associate with it either because they feel the business is downgrading to their status or they just don’t fit into the agbero lifestyle of most drivers.
Amazingly, you don’t have to be a driver yourself, you can simply buy a vehicle, tricycle, or motorcycle, after which you hire someone to drive for you with fixed returns daily.
Also considering how fast-paced technology has moved, you can easily sign up for all these online cars like Taxify, uber, and bolt to continuously cash out.
5. Fashion Business
When you talk about parties, Nigerians are the big guys in this circle, ranging from weddings to dinner, birthday parties, and a lot more, and most often than not, there is always an attire attached to these occasions.
If you have an interest in the fashion world, you can go acquire a skill in fashion design after which you can set up yourself after you have perfected your skills.
A lot of people prefer to give out their clothes to artisans that are skilled. These artisans are believed to be capable of designing fabrics beautifully well, if you fall in this category, then you have an edge.
Additionally, you can go into selling of wear; wear can be anything humans put on their bodies. Clothes, undies, necklaces, bracelets, anklets, shoes, and all of that. The fashion world is one of the most underrated business opportunities in Nigeria.
6. POS Business
This is one business that I have known to thrive on over the years. A lot of people prefer to use the POS machine than to stay up in a queue in the bank just to cash out their own money.
POS makes it easier for people to withdraw money at their convenience, I am sure you have seen a lot of P.O.S centers in your geographic location and you have possibly withdrawn at some of these centers.
If you are looking at some Nigerian business opportunities, the P.O.S Business is one you should venture into.
However, be sure to seek the counsel of people that have expertise in this line of business especially if you are looking at venturing into the business.
7. Food Business
Food is something people can’t do without and this is why the food business is on the list of fastest growing businesses in Nigeria.
Depending on your capital, you can start up a franchise like chicken republic and the like, or an online food supply, which makes it very easy for people to order food online.
You could also look at opening a local restaurant where you sell food to people who need them, you can add a little bit of paparazzi to the style of your restaurant.
Your restaurant can be known for making one of the best amala with ogbono soup. Just add some peculiarity to your cooking style.
8. Dry Cleaning Business
This kind of business sells majorly in big cities, where people have little to no time to do laundry themselves.
Also, most companies and hotels need dry cleaning services, so it will be ok if you can pitch your idea to these people. Lagos residents have an edge in this.
Agriculture is simply a way of providing food for man, and animal consumption. It is one of the hot business ideas one can venture into if you are looking at fast growing businesses in Nigeria.
Man consumes food, and dairy products daily, and venturing into this business will give you a lifetime of opportunities.
If you are considering venturing into agriculture, you could opt-in for any of these categories:
- Poultry Farming
- Catfish Farming
- Cattle Rearing
- Goat Farming
- Watermelon Farming
- Plantain Farming
- Snail Rearing
- Cassava Farming
10. Daycare business
As risky as it is since you are to be accountable for all the kids kept under your watch, it is still one of the most lucrative businesses in Nigeria.
If you can’t oversee the business but you desire to own one, you can simply hire as many babysitters as you want, and place them on salaries.
Interestingly, the payment schedule for rendering daycare services for busy moms could be on a daily or monthly basis depending on your choice and what your client is comfortable with.
Thrift business is another option you can opt for if you are looking at a fast growing business in Nigeria. That actually serves as a bonus.
Compare Other Business Ideas in Nigeria
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Finally, if you are looking at starting up your own business, you must understand that patience, and consistency is what will help you get an attainable result.
Also, it is best to seek the opinion of an expert before venturing into any business so as not to suffer loss.
We do hope this article has been of great help to you. Do you have any ideas, recommendations, or comments? Kindly hit the comment box