15 Fastest Growing Small
Business Opportunities in
Nigeria
For quite sometime now, my
email box has been filled with
request from fellow Nigerian
entrepreneurs asking for the
fastest growing business
opportunities in Nigeria which
they can invest in. Before I
proceed with any detailed
explanation, I want to state
clearly that there are untapped
business opportunities in every
industry both in Nigeria and all
over the world ; you just need to
dig deeper to find such niches.
While there are untapped
business opportunities in every
industry, this article will be
pointing out the fastest growing
business opportunities in
Nigeria. If you are non-Nigerian
or you’re a Nigerian in Diaspora
wishing to start a business in
Nigeria ; then you will find this
list of fastest growing business
opportunities in Nigeria very
useful.
A lot of things have been said
about my country Nigeria and
her harsh business terrain. If
you are a non-Nigerian
entrepreneur or a Nigerian in
Diaspora; then this is my take
about starting or doing
business in Nigeria. If you are
an experienced serial
entrepreneur or an entrepreneur
with guts; then you should know
that 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 is in a
developing environment.
Though the risk is high, so also
is the reward . Like I said; if you
are an entrepreneur with guts
to take on business challenges
like Richard Branson; then this
article is for you.
If you are hungry for
entrepreneurial ideas and
information ; then sit back, grab
a cup of coffee and read on as I
present with you a detailed list
of 15 fastest growing business
opportunities in Nigeria .
15 Fastest Growing Business
Opportunities in Nigeria
Before I begin listing the fastest
growing business opportunities
in Nigeria ; let me tell you how I
came about this list. Sometime
ago, I handed out a task to some
members of my strategic
business team and that task was
to research and get a detailed
report on the fastest growing
business opportunities in
Nigeria with moderate risk and
strong profit potential within a
defined time frame.
Just recently, I met with my
business team to review and
brainstorm on the result filed in
by the research team. Well; if you
must know why I mandated
such task to be carried out, then
I am going to spill it. As at the
time of this writing, I am
currently developing a strategic
diversification plan with my
business team and we are
looking at the various options
of business opportunities
available .
So while I am not going to tell
you the specific industry we are
breaking into; I am going to
briefly share with you a
compilation of some of the
fastest growing business
opportunities in Nigeria , as
researched by my team. But I will
advice you conduct your own
feasibility study on any
business opportunity that
interests you and draw up a
strong business plan. If you
have any questions with regards
to any of the business
opportunities listed below; feel
free to contact us here.
15 Fastest Growing Business
Opportunities in Nigeria
Agricultural Sector
1. Catfish and Poultry Farming
The first of the fastest growing
business opportunities in
Nigeria is catfish farming . The
primary reason I listed catfish
farming as one of the fastest
business opportunities in
Nigeria is because 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 haven’t been covered by a
major player and situate your
business there. As for poultry
farming, the ban imposed by
the federal government of
Nigeria with respect to the
importation of live or frozen
poultry birds has only helped
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 is
that the population in Nigeria is
estimated to be over 150 million
and growing so that entails a
growing demand for food. Three
is that 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’s still a
growing demand for catfish all
over the world. So do your own
in-depth analysis and put your
money to work.
Textiles Sector
2. Importation of wears
Importation of clothes
(designer wears) into Nigeria is
another fast growing business
opportunity you can tap into
but I must warn you; you will be
breaking the law if you engage
in this business because there’s
a ban by the federal
government on the importation
of wears . I listed this business
opportunity for those who have
the entrepreneurial guts to take
calculated risk .
Another reason I listed the
importation of wears as one of
the fastest growing business
opportunities in Nigeria is
because the ban cut short its
supply thereby leaving a gap of
demand that can only be filled
by brave entrepreneurs. Please
don’t assume I am trying to hype
you or something; I am a player
in this line majoring mainly in
men’s designer wears which is
imported from China and India. I
source corporate wears from
Hong Kong because of the
quality of their finished product.
Enough said.
3. Sewing of specialized
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 specialize in
sewing uniforms. The demand
for uniforms is on the increase
in Nigeria; from the crèche to the
labor market, uniforms are
highly in demand but it’s
advisable you do your own
detailed research before
venturing into the business.
Transportation Sector
4. Inland water way transport
Inland water way transport is
one of the fastest growing
business opportunities in
Nigeria . In fact, I believe the
niche is still untapped because I
am yet to see a modern
commercial boat or ferry service
system in Nigeria. Though there
are a few operators in this
industry; I am yet to see the
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 the
congestion of roads. Since the
roads are becoming heavily
congested; the next means of
transportation the inhabitants of
these heavily populated states
will resort to 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.
5. Haulage and logistics
Haulage and logistics is another
fastest growing business
opportunity in Nigeria. Though
it’s considered a risky business;
you can 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.
6. Outsourced bus service
This is similar to haulage and
logistics but the cargo in this
case is humans. I am not talking
about the regular road transport
bus service; in fact, I don’t think I
have seen the idea for this
business been utilized by
anyone.
Now in this case, you are
providing transportation
services to firms and corporate
entities. Some corporate
organizations can’t afford an in-
house transport system for its
executives 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 bases or contract bases
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
come 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, I will say
Nigeria is lagging behind when
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
hasn’t reached its peak so a lot
of opportunities exist for both
local and foreign investors. I
won’t go into the capital
intensive business opportunities
that exist in the ICT sector;
rather, I will stick with small and
medium scale business
opportunities.
7. 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 on the
high side 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 I will
prefer a large scale because size
can be a competitive edge for
you in this business 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 line. If you can
get a good location; provide
speedy internet access and
provide complementary
services; you are in for a
breakthrough.
8. 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
hasn’t fully been tapped . Under
the umbrella of providing 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.
Education
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. The
following are ways you can tap
into the potential opportunity.
9. Schools
A lot of institutional and private
investors have gone into
building quality schools and
providing quality education but
the potential has not been
reached. With a population of
over 150 million Nigerians,
where 65% are below 40; there’s
still untapped potential in this
niche.
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
holds strong potential. Please
carry out your own analysis
before investing in any level of
this business opportunity.
10. Seminars
Not everyone loves being
educated within four walls of
school. Some prefer street smart
education or high speed learning
and that’s where you come in.
You can set up a seminar
company that organizes
coaching services according to
the current needs and trends of
the society.
11. Training centers
Specialized training or
educational centers is another
fast growing yet untapped
business opportunity in Nigeria.
Examples of specialized learning
centers are Leadership training
schools, entrepreneurial centers,
training centre for the gifted and
physically challenged, training
centre for hobbies and crafts,
etc.
12. Tutorial centers
With the proliferation of
academic and professional
exams, tutorial centers have
joined the list of fastest
growing business opportunities
in Nigeria . You can access this
business opportunity by
choosing or specializing 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.
15 Fastest Growing Business
Opportunities in Nigeria
Green Energy and Technology
With a global increase in the
awareness of environmental
degradation and its hazard, the
world has resorted to finding an
alternative “green energy.”
Nigeria is not left out in this
global awareness that has
created massive opportunities
for smart entrepreneurs and
investors. If you feel green is the
next business trend on board,
then below are the fastest
growing business opportunities
in the green energy and
technology sector of Nigeria .
13. Waste management
With an increased awareness in
the need for environmental
conservation; opportunity has
popped up in Nigeria in the area
of waste management . When
analyzing the waste
management business
opportunity, I observed that two
factors are responsible for the
potential in the business and you
must make sure these two
factors are in place before
deciding on an area of service.
One is a bursting population and
the second is a strong
environmental policy and its
enforcement. So far, two states
in Nigeria that has taken the lead
with respect to these two factors
and these states are Lagos and
Imo state. But I believe great
potential still lie in other states of
Nigeria. Do your own personal
research before venturing into
this industry.
14. Waste recycling
The next fastest growing
business, yet untapped business
opportunity in Nigeria is waste
recycling. I don’t need to
expatiate on this as the details
are clear. You can venture into
either bottle and can recycling or
nylon recycling. You can even
embark on a waste to green
(manure) project as Nigeria has a
huge demand for organic and
inorganic fertilizer.
15. Alternative power
The last but not the least of the
fastest growing business
opportunities in Nigeria is
alternative power supply . In
recent times; Nigeria has seen an
explosive increase in the
demand of power supply thus
creating an avenue for smart
entrepreneurs to capitalize on.
Solar energy, Wind energy and
bio energy are some of the
alternative power supply
system that are currently
making waves in the country but
the present alternative power
supply service providers cannot
meet up the demand thereby
leaving room for other creative
investors. With a good plan,
adequate capital and a strong
business team; you can break
into this niche.
As a final note, I want you to
know that of the numerous
business opportunities and
potentials available in my
country Nigeria , I believe the
ones listed above are potential
money makers but I emphasize
you do your own feasibility
study before investing a dime in
any of these business
opportunities. Good luck.
15 Fastest Growing Small
Business Opportunities in
Nigeria
For quite sometime now, my
email box has been filled with
request from fellow Nigerian
entrepreneurs asking for the
fastest growing business
opportunities in Nigeria which
they can invest in. Before I
proceed with any detailed
explanation, I want to state
clearly that there are untapped
business opportunities in every
industry both in Nigeria and all
over the world ; you just need to
dig deeper to find such niches.
While there are untapped
business opportunities in every
industry, this article will be
pointing out the fastest growing
business opportunities in
Nigeria. If you are non-Nigerian
or you’re a Nigerian in Diaspora
wishing to start a business in
Nigeria ; then you will find this
list of fastest growing business
opportunities in Nigeria very
useful.
A lot of things have been said
about my country Nigeria and
her harsh business terrain. If
you are a non-Nigerian
entrepreneur or a Nigerian in
Diaspora; then this is my take
about starting or doing
business in Nigeria. If you are
an experienced serial
entrepreneur or an entrepreneur
with guts; then you should know
that 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 is in a
developing environment.
Though the risk is high, so also
is the reward . Like I said; if you
are an entrepreneur with guts
to take on business challenges
like Richard Branson; then this
article is for you.
If you are hungry for
entrepreneurial ideas and
information ; then sit back, grab
a cup of coffee and read on as I
present with you a detailed list
of 15 fastest growing business
opportunities in Nigeria .
15 Fastest Growing Business
Opportunities in Nigeria
Before I begin listing the fastest
growing business opportunities
in Nigeria ; let me tell you how I
came about this list. Sometime
ago, I handed out a task to some
members of my strategic
business team and that task was
to research and get a detailed
report on the fastest growing
business opportunities in
Nigeria with moderate risk and
strong profit potential within a
defined time frame.
Just recently, I met with my
business team to review and
brainstorm on the result filed in
by the research team. Well; if you
must know why I mandated
such task to be carried out, then
I am going to spill it. As at the
time of this writing, I am
currently developing a strategic
diversification plan with my
business team and we are
looking at the various options
of business opportunities
available .
So while I am not going to tell
you the specific industry we are
breaking into; I am going to
briefly share with you a
compilation of some of the
fastest growing business
opportunities in Nigeria , as
researched by my team. But I will
advice you conduct your own
feasibility study on any
business opportunity that
interests you and draw up a
strong business plan. If you
have any questions with regards
to any of the business
opportunities listed below; feel
free to contact us here.
15 Fastest Growing Business
Opportunities in Nigeria
Agricultural Sector
1. Catfish and Poultry Farming
The first of the fastest growing
business opportunities in
Nigeria is catfish farming . The
primary reason I listed catfish
farming as one of the fastest
business opportunities in
Nigeria is because 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 haven’t been covered by a
major player and situate your
business there. As for poultry
farming, the ban imposed by
the federal government of
Nigeria with respect to the
importation of live or frozen
poultry birds has only helped
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 is
that the population in Nigeria is
estimated to be over 150 million
and growing so that entails a
growing demand for food. Three
is that 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’s still a
growing demand for catfish all
over the world. So do your own
in-depth analysis and put your
money to work.
Textiles Sector
2. Importation of wears
Importation of clothes
(designer wears) into Nigeria is
another fast growing business
opportunity you can tap into
but I must warn you; you will be
breaking the law if you engage
in this business because there’s
a ban by the federal
government on the importation
of wears . I listed this business
opportunity for those who have
the entrepreneurial guts to take
calculated risk .
Another reason I listed the
importation of wears as one of
the fastest growing business
opportunities in Nigeria is
because the ban cut short its
supply thereby leaving a gap of
demand that can only be filled
by brave entrepreneurs. Please
don’t assume I am trying to hype
you or something; I am a player
in this line majoring mainly in
men’s designer wears which is
imported from China and India. I
source corporate wears from
Hong Kong because of the
quality of their finished product.
Enough said.
3. Sewing of specialized
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 specialize in
sewing uniforms. The demand
for uniforms is on the increase
in Nigeria; from the crèche to the
labor market, uniforms are
highly in demand but it’s
advisable you do your own
detailed research before
venturing into the business.
Transportation Sector
4. Inland water way transport
Inland water way transport is
one of the fastest growing
business opportunities in
Nigeria . In fact, I believe the
niche is still untapped because I
am yet to see a modern
commercial boat or ferry service
system in Nigeria. Though there
are a few operators in this
industry; I am yet to see the
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 the
congestion of roads. Since the
roads are becoming heavily
congested; the next means of
transportation the inhabitants of
these heavily populated states
will resort to 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.
5. Haulage and logistics
Haulage and logistics is another
fastest growing business
opportunity in Nigeria. Though
it’s considered a risky business;
you can 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.
6. Outsourced bus service
This is similar to haulage and
logistics but the cargo in this
case is humans. I am not talking
about the regular road transport
bus service; in fact, I don’t think I
have seen the idea for this
business been utilized by
anyone.
Now in this case, you are
providing transportation
services to firms and corporate
entities. Some corporate
organizations can’t afford an in-
house transport system for its
executives 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 bases or contract bases
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
come 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, I will say
Nigeria is lagging behind when
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
hasn’t reached its peak so a lot
of opportunities exist for both
local and foreign investors. I
won’t go into the capital
intensive business opportunities
that exist in the ICT sector;
rather, I will stick with small and
medium scale business
opportunities.
7. 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 on the
high side 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 I will
prefer a large scale because size
can be a competitive edge for
you in this business 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 line. If you can
get a good location; provide
speedy internet access and
provide complementary
services; you are in for a
breakthrough.
8. 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
hasn’t fully been tapped . Under
the umbrella of providing 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.
Education
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. The
following are ways you can tap
into the potential opportunity.
9. Schools
A lot of institutional and private
investors have gone into
building quality schools and
providing quality education but
the potential has not been
reached. With a population of
over 150 million Nigerians,
where 65% are below 40; there’s
still untapped potential in this
niche.
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
holds strong potential. Please
carry out your own analysis
before investing in any level of
this business opportunity.
10. Seminars
Not everyone loves being
educated within four walls of
school. Some prefer street smart
education or high speed learning
and that’s where you come in.
You can set up a seminar
company that organizes
coaching services according to
the current needs and trends of
the society.
11. Training centers
Specialized training or
educational centers is another
fast growing yet untapped
business opportunity in Nigeria.
Examples of specialized learning
centers are Leadership training
schools, entrepreneurial centers,
training centre for the gifted and
physically challenged, training
centre for hobbies and crafts,
etc.
12. Tutorial centers
With the proliferation of
academic and professional
exams, tutorial centers have
joined the list of fastest
growing business opportunities
in Nigeria . You can access this
business opportunity by
choosing or specializing 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.
15 Fastest Growing Business
Opportunities in Nigeria
Green Energy and Technology
With a global increase in the
awareness of environmental
degradation and its hazard, the
world has resorted to finding an
alternative “green energy.”
Nigeria is not left out in this
global awareness that has
created massive opportunities
for smart entrepreneurs and
investors. If you feel green is the
next business trend on board,
then below are the fastest
growing business opportunities
in the green energy and
technology sector of Nigeria .
13. Waste management
With an increased awareness in
the need for environmental
conservation; opportunity has
popped up in Nigeria in the area
of waste management . When
analyzing the waste
management business
opportunity, I observed that two
factors are responsible for the
potential in the business and you
must make sure these two
factors are in place before
deciding on an area of service.
One is a bursting population and
the second is a strong
environmental policy and its
enforcement. So far, two states
in Nigeria that has taken the lead
with respect to these two factors
and these states are Lagos and
Imo state. But I believe great
potential still lie in other states of
Nigeria. Do your own personal
research before venturing into
this industry.
14. Waste recycling
The next fastest growing
business, yet untapped business
opportunity in Nigeria is waste
recycling. I don’t need to
expatiate on this as the details
are clear. You can venture into
either bottle and can recycling or
nylon recycling. You can even
embark on a waste to green
(manure) project as Nigeria has a
huge demand for organic and
inorganic fertilizer.
15. Alternative power
The last but not the least of the
fastest growing business
opportunities in Nigeria is
alternative power supply . In
recent times; Nigeria has seen an
explosive increase in the
demand of power supply thus
creating an avenue for smart
entrepreneurs to capitalize on.
Solar energy, Wind energy and
bio energy are some of the
alternative power supply
system that are currently
making waves in the country but
the present alternative power
supply service providers cannot
meet up the demand thereby
leaving room for other creative
investors. With a good plan,
adequate capital and a strong
business team; you can break
into this niche.
As a final note, I want you to
know that of the numerous
business opportunities and
potentials available in my
country Nigeria , I believe the
ones listed above are potential
money makers but I emphasize
you do your own feasibility
study before investing a dime in
any of these business
opportunities. Good luck.
15 Fastest Growing Small
Business Opportunities in
Nigeria
For quite sometime now, my
email box has been filled with
request from fellow Nigerian
entrepreneurs asking for the
fastest growing business
opportunities in Nigeria which
they can invest in. Before I
proceed with any detailed
explanation, I want to state
clearly that there are untapped
business opportunities in every
industry both in Nigeria and all
over the world ; you just need to
dig deeper to find such niches.
While there are untapped
business opportunities in every
industry, this article will be
pointing out the fastest growing
business opportunities in
Nigeria. If you are non-Nigerian
or you’re a Nigerian in Diaspora
wishing to start a business in
Nigeria ; then you will find this
list of fastest growing business
opportunities in Nigeria very
useful.
A lot of things have been said
about my country Nigeria and
her harsh business terrain. If
you are a non-Nigerian
entrepreneur or a Nigerian in
Diaspora; then this is my take
about starting or doing
business in Nigeria. If you are
an experienced serial
entrepreneur or an entrepreneur
with guts; then you should know
that 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 is in a
developing environment.
Though the risk is high, so also
is the reward . Like I said; if you
are an entrepreneur with guts
to take on business challenges
like Richard Branson; then this
article is for you.
If you are hungry for
entrepreneurial ideas and
information ; then sit back, grab
a cup of coffee and read on as I
present with you a detailed list
of 15 fastest growing business
opportunities in Nigeria .
15 Fastest Growing Business
Opportunities in Nigeria
Before I begin listing the fastest
growing business opportunities
in Nigeria ; let me tell you how I
came about this list. Sometime
ago, I handed out a task to some
members of my strategic
business team and that task was
to research and get a detailed
report on the fastest growing
business opportunities in
Nigeria with moderate risk and
strong profit potential within a
defined time frame.
Just recently, I met with my
business team to review and
brainstorm on the result filed in
by the research team. Well; if you
must know why I mandated
such task to be carried out, then
I am going to spill it. As at the
time of this writing, I am
currently developing a strategic
diversification plan with my
business team and we are
looking at the various options
of business opportunities
available .
So while I am not going to tell
you the specific industry we are
breaking into; I am going to
briefly share with you a
compilation of some of the
fastest growing business
opportunities in Nigeria , as
researched by my team. But I will
advice you conduct your own
feasibility study on any
business opportunity that
interests you and draw up a
strong business plan. If you
have any questions with regards
to any of the business
opportunities listed below; feel
free to contact us here.
15 Fastest Growing Business
Opportunities in Nigeria
Agricultural Sector
1. Catfish and Poultry Farming
The first of the fastest growing
business opportunities in
Nigeria is catfish farming . The
primary reason I listed catfish
farming as one of the fastest
business opportunities in
Nigeria is because 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 haven’t been covered by a
major player and situate your
business there. As for poultry
farming, the ban imposed by
the federal government of
Nigeria with respect to the
importation of live or frozen
poultry birds has only helped
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 is
that the population in Nigeria is
estimated to be over 150 million
and growing so that entails a
growing demand for food. Three
is that 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’s still a
growing demand for catfish all
over the world. So do your own
in-depth analysis and put your
money to work.
Textiles Sector
2. Importation of wears
Importation of clothes
(designer wears) into Nigeria is
another fast growing business
opportunity you can tap into
but I must warn you; you will be
breaking the law if you engage
in this business because there’s
a ban by the federal
government on the importation
of wears . I listed this business
opportunity for those who have
the entrepreneurial guts to take
calculated risk .
Another reason I listed the
importation of wears as one of
the fastest growing business
opportunities in Nigeria is
because the ban cut short its
supply thereby leaving a gap of
demand that can only be filled
by brave entrepreneurs. Please
don’t assume I am trying to hype
you or something; I am a player
in this line majoring mainly in
men’s designer wears which is
imported from China and India. I
source corporate wears from
Hong Kong because of the
quality of their finished product.
Enough said.
3. Sewing of specialized
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 specialize in
sewing uniforms. The demand
for uniforms is on the increase
in Nigeria; from the crèche to the
labor market, uniforms are
highly in demand but it’s
advisable you do your own
detailed research before
venturing into the business.
Transportation Sector
4. Inland water way transport
Inland water way transport is
one of the fastest growing
business opportunities in
Nigeria . In fact, I believe the
niche is still untapped because I
am yet to see a modern
commercial boat or ferry service
system in Nigeria. Though there
are a few operators in this
industry; I am yet to see the
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 the
congestion of roads. Since the
roads are becoming heavily
congested; the next means of
transportation the inhabitants of
these heavily populated states
will resort to 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.
5. Haulage and logistics
Haulage and logistics is another
fastest growing business
opportunity in Nigeria. Though
it’s considered a risky business;
you can 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.
6. Outsourced bus service
This is similar to haulage and
logistics but the cargo in this
case is humans. I am not talking
about the regular road transport
bus service; in fact, I don’t think I
have seen the idea for this
business been utilized by
anyone.
Now in this case, you are
providing transportation
services to firms and corporate
entities. Some corporate
organizations can’t afford an in-
house transport system for its
executives 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 bases or contract bases
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
come 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, I will say
Nigeria is lagging behind when
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
hasn’t reached its peak so a lot
of opportunities exist for both
local and foreign investors. I
won’t go into the capital
intensive business opportunities
that exist in the ICT sector;
rather, I will stick with small and
medium scale business
opportunities.
7. 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 on the
high side 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 I will
prefer a large scale because size
can be a competitive edge for
you in this business 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 line. If you can
get a good location; provide
speedy internet access and
provide complementary
services; you are in for a
breakthrough.
8. 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
hasn’t fully been tapped . Under
the umbrella of providing 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.
Education
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. The
following are ways you can tap
into the potential opportunity.
9. Schools
A lot of institutional and private
investors have gone into
building quality schools and
providing quality education but
the potential has not been
reached. With a population of
over 150 million Nigerians,
where 65% are below 40; there’s
still untapped potential in this
niche.
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
holds strong potential. Please
carry out your own analysis
before investing in any level of
this business opportunity.
10. Seminars
Not everyone loves being
educated within four walls of
school. Some prefer street smart
education or high speed learning
and that’s where you come in.
You can set up a seminar
company that organizes
coaching services according to
the current needs and trends of
the society.
11. Training centers
Specialized training or
educational centers is another
fast growing yet untapped
business opportunity in Nigeria.
Examples of specialized learning
centers are Leadership training
schools, entrepreneurial centers,
training centre for the gifted and
physically challenged, training
centre for hobbies and crafts,
etc.
12. Tutorial centers
With the proliferation of
academic and professional
exams, tutorial centers have
joined the list of fastest
growing business opportunities
in Nigeria . You can access this
business opportunity by
choosing or specializing 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.
15 Fastest Growing Business
Opportunities in Nigeria
Green Energy and Technology
With a global increase in the
awareness of environmental
degradation and its hazard, the
world has resorted to finding an
alternative “green energy.”
Nigeria is not left out in this
global awareness that has
created massive opportunities
for smart entrepreneurs and
investors. If you feel green is the
next business trend on board,
then below are the fastest
growing business opportunities
in the green energy and
technology sector of Nigeria .
13. Waste management
With an increased awareness in
the need for environmental
conservation; opportunity has
popped up in Nigeria in the area
of waste management . When
analyzing the waste
management business
opportunity, I observed that two
factors are responsible for the
potential in the business and you
must make sure these two
factors are in place before
deciding on an area of service.
One is a bursting population and
the second is a strong
environmental policy and its
enforcement. So far, two states
in Nigeria that has taken the lead
with respect to these two factors
and these states are Lagos and
Imo state. But I believe great
potential still lie in other states of
Nigeria. Do your own personal
research before venturing into
this industry.
14. Waste recycling
The next fastest growing
business, yet untapped business
opportunity in Nigeria is waste
recycling. I don’t need to
expatiate on this as the details
are clear. You can venture into
either bottle and can recycling or
nylon recycling. You can even
embark on a waste to green
(manure) project as Nigeria has a
huge demand for organic and
inorganic fertilizer.
15. Alternative power
The last but not the least of the
fastest growing business
opportunities in Nigeria is
alternative power supply . In
recent times; Nigeria has seen an
explosive increase in the
demand of power supply thus
creating an avenue for smart
entrepreneurs to capitalize on.
Solar energy, Wind energy and
bio energy are some of the
alternative power supply
system that are currently
making waves in the country but
the present alternative power
supply service providers cannot
meet up the demand thereby
leaving room for other creative
investors. With a good plan,
adequate capital and a strong
business team; you can break
into this niche.
As a final note, I want you to
know that of the numerous
business opportunities and
potentials available in my
country Nigeria , I believe the
ones listed above are potential
money makers but I emphasize
you do your own feasibility
study before investing a dime in
any of these business
opportunities. Good luck.