But one of the key problems hindering its growth and improvement in the standard of living has been people’s inabilities to identify the right opportunities, take advantage of them, and create successful businesses that would go on to employ hundreds or thousands of people in the process.
How do you identify and take advantage of these investment opportunities in Nigeria or Africa?
To answer these questions, we detailed 11 investment opportunities that will make you rich in Nigeria and many parts of Africa.
1). Real Estate:
The need for housing is ever increasing in Nigeria and many parts of Africa. As people continue to move from the remote areas to the big cities, the real estate industry continues to grow.
In all essence, the real estate industry in Nigeria is still in its infancy, and the most vibrant location so far is Lagos state; a small city with over 20 million people living in it, and hundreds more entering every day. This shows great promise in the real estate industry in Nigeria, and how wide it is for many more players to get in.
You could venture into real estate by being a real estate broker, where you sell houses to get a 2.5% to 5% commission on the sale or help people find affordable apartments to live in for a fee. If you have a wider cash-base, you could buy hundreds of acres of lands, develop it, and sell them in plots for a reasonable profit. You could also build houses or structures for sale or rent in either the residential or commercial real estate industry.
2). Green House Farming:
While local farmers continue to use old practices to grow crops on many acres of land, people are achieving 3 to 4 times more yield from an even far smaller area of land. They’re doing this by making use of green farming practices, thereby maximizing their farm yields in the best ways possible.
You could venture into greenhouse farming and use a far smaller piece of land to generate 3 to 4 times what the average farmer is generating on a much larger piece of land for the same crop.
Greenhouse farming practices have proven itself time and time again, especially as a very small country like the Netherlands, who implements it best, is now the 2nd largest exporter of food in the world as at 2018.
3). International Trade (Import/Export):
International trade or global trade as many prefer to call it is the export of goods and services from a country’s shores to international buyers located in many places around the world. Here, agricultural products, mineral resources & metals, oil & gas products, and much more are exported at varying prices based on the exporter’s negotiation with the international buyer.
While this is arguably one of the most profitable businesses to venture into in Nigeria or Africa as a whole, you could first start out as a broker linking international buyers to local sellers and getting a commission on every successful transaction, after which you could go on to become the direct seller once you have a valuable capital base to work with.
4). Procurement, Logistics & Warehousing:
Procurement, logistics, and warehousing go hand in hand as it is what makes the supply chain industry one of the most lucrative investment opportunities to venture into.
In view of procurement, you could sign up as a supplier to various local organisations and supply them their needs on a monthly basis. This could be for office supplies, medical equipment supplies, or even petroleum products supplies.
For logistics, you could help people haul their goods and services across different parts of the country for a fee. You could also handle the haulage of the products you’re supplying to your clients to eliminate those costs.
On the warehousing end, people who import or prepare products for export always seek warehouses to store the products. You could build small warehouses across different locations and offer a lease service to clients.
On a complete integrated front, you could handle your supply chain business by procuring what your clients want, storing them in your warehouse, and transporting them to the clients when due. You could also charge a whole lot of businesses a fee for this same service.
5). Alternative Power:
People are constantly looking for ways to power their homes in Nigeria and Africa. As a result of this, generator sales have spiked over the years, causing the business to be a lucrative one. What even gets more interesting today is the talk of renewable energy, by the provision of solar panels, inverters, and much more to help people solve more of their electricity needs.
If you can find and sell alternative power sources like solar panels, inverters, and more at far below the outrageous local market prices, you could grow a successful business in a short time.
6). Private Education:
While government education continues to be cheap and substandard, private education that delivers international standard learning have fast risen, causing many parents to strive to put their children in private primary, secondary, and tertiary schools with the hope that they will get the best possible education in the country.
Even expatriates working in Nigeria are highly picky of what schools their children attend, and so, seek out the best private primary and secondary schools they can find in the country.
The rise of private education and its high profitability has caused the industry to grow sporadically, as many more private schools are springing up in many parts of Nigeria and across Africa.
If you’re looking for investment opportunities that will make you rich in Nigeria or
Africa, starting an international standard private school is one of them.
7). Equipment Leasing:
This is one of the most lucrative businesses on this list as countless types of equipment are leased on a daily basis for different reasons. The most common and highly profitable equipment leasing businesses to start in Nigeria are generator rentals, construction equipment rentals, farm equipment rentals, party & event equipment rentals, and much more.
By taking advantage of the equipment leasing business, especially generator rentals and construction equipment rentals, you could start and grow a successful business in one year.
8). Mining:
Mining is one of the most lucrative investment opportunities in Nigeria because of its vast potential based on the mineral deposits a certain mine may or may not possess.
Some mines sell the minerals they extract to locals who in turn export them, while other mines export directly, thereby maximizing their profit margins.
Depending on what minerals you’re mining, selling, and exporting, your profit margins could be anywhere from 25% to well over 100%.
9). Blogging/Vlogging:
Millionaire bloggers around the world have time and time again proven that blogging or Vlogging can create multi-million dollar brands. Some great examples are Linda Ikeji, Bella Naija, Mashable, and much more. These are multi-million dollar blogs, and there are thousands of smaller blogs that are worth thousands of dollars.
You could start up a blog or Vlog in a specific niche and run it with a team that’s structured to ensure the contents don’t just keep people coming back, but also ensures you build a million dollar business in the process.
10). Professional Writing:
The professional writing industry is an immensely large one with its services ranging from university projects to business writings, speeches, article writing and much more.
More students graduate from their undergraduate, masters, and PhD programs yearly than ever before. And almost half of these students are looking for who would help them with their final research projects. The need also applies to people who are constantly invited to speak at occasions and events, as they constantly seek speechwriters, and even businesses applying for bank loans or investments that seek business plans and proposals.
With the potential investment opportunities in professional writing exceeding mind-blowing numbers, you could venture into the business if you have excellent writing & research skills, set up an SEO-ready website & a small office, hire a marketing team, have little startup capital, and you’re in business.
11). Cryptocurrencies:
The rise of cryptocurrencies and the effect it has had in the world cannot be understated. Take the Bitcoin for example; a lot of people who bought bitcoins when it was less than $1,000 to a bitcoin have seen the value of their bitcoins rise by over 1000%.
With more cryptocurrencies entering the market and the price of bitcoins rising and falling based on market trends, venturing into the cryptocurrency exchange business could build you a million dollar company.
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