Quest for the Truth and Justice

27 Small Scale Business ideas and Investment Opportunities in Nigeria for 2017

Posted by on May 17th, 2017 and filed under Business, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

  1. Livestock Farming: Do you know that one 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.

Now for those who don’t know, there is a bill being proposed now by the federal government of Nigeria to ban the importation of frozen fish. One this bill is passed into law by the national assembly, the local fish farmers will smile and you will be left behind. So why not position yourself now?

With respect to 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. To be honest with you, livestock farming in general is a booming business in Nigeria and the trend is not dying anytime soon.

You can even start this business from your backyard. With 150+million mouths to feed daily, there will always be demand for livestock products. However, lack of technical know-how and the use of crude equipment are the major factors hampering the growth of this industry.

If you can come in with adequate knowledge and the patience to nurture this business, you will reap immensely. Now you can choose to either venture into livestock breeding of animals or better still, you can stick to livestock feed production or equipment retailing.

Poultry farming – Egg production, meat production, hatchery or day-old-chicks production, etc.

Sheep

Tilapia Fish Farming

Piggery

Grasscutter Farming

Snail Farming

Quail Farming

  1. Agro-products exportation

Nigeria is blessed with a lot of food and natural resources; and most of these natural resources are raw materials needed for the production of some finished products. Every day, tons of raw materials and food products leave the shores of Nigeria to countries such as India, Vietnam, China, USA, UK, Brazil, etc; yet, the demand is never met.

You can become an exporter by simply registering with the Nigerian Export Promotion Council and decide on the specific product you wish to export. Examples of products highly in demand both within and outside Nigeria are Chili pepper, Mango, Kola nuts, Bitter Kola, Cassava flakes (Garri), Cocoa, Groundnut, Yam flour, Cashew nuts, etc.

However, if you think you don’t have the capital or time to engage in agro-products exportation, then you can stay local by buying and selling them within the country. A good example of a product you can buy and sell for huge profits is Palm Oil.

  1. Mining

Nigeria is blessed with a lot of mineral resources like Limestone, Coal, Iron ore, Bitumen, etc. Aside this, the mining industry in Nigeria is set to take off because the federal government in June 2013 implemented a policy to drive forward the mining industry by declaring the importation of mining equipment duty free. The government is also going after many dormant investors who were granted mining licenses but are not utilizing it. This act I believe, will spur the growth in the mining sector. If you have the financial capacity and a team, you can position yourself in this sector.

Leave a Reply