What are the best small scale business ideas in Lagos? What are the best small business opportunities for Nigerians (Investment Opportunities) living in the Diaspora?
Are you an entrepreneur or investor looking for where to invest your money with good returns? Do you want to know where to find fast growing business ideas in Lagos?
Many Lagosians have spare cash, but they just don’t know where to invest their money. Some even tried to invest in the stock market and they lost their money, not because the stock market is bad but because they lack the needed experience and knowledge to invest in the stock market.
Well, if you are one of such individuals that is scared of coming back to Lagos to establish a company, the points below will help quell that fear.
Reasons Why You Should Start a Business in Lagos Today
Lagos still remains a hub for most entrepreneurs and investors.It is also a port and the most populous city in Nigeria. It has a population of 17.5 million as estimated by The Lagos State Government.
Small Scale Business ideas and Investment Opportunities in Nigeria
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.
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.
2. Agro-products exportation
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.
3.Setting up a private mini vegetable oil refinery
This is a case of simply adding value to basic commodities. So instead of buying and selling oil seeds like groundnuts, you can buy an oil mill ad convert seeds to oil and earn more money in the process.
4. Sewing of specialized uniforms
There are over 500 schools (both Crèche, primary and secondary) in Lagos state alone; and each of these schools have a specific uniform or attire for their students. Okay, let’s look beyond educational institutions. Do you know that other individuals and corporate organizations are in need of uniforms for their security personnel, staff, etc?
5. Real Estate development
I have met a lot of individuals with money piling up in the bank, but they don’t seem to know what to do with that money. Yet, on every business trip I make, I hear stories of people facing accommodation problems; not because they can’t afford it but because there is none within their choice of location.
6. Recruitment Agency
The labour market is becoming tougher and there are over five million unemployed youths in Nigeria. Another hard fact is that companies are no longer employing full time in-house staff; they are now using the services of recruitment agencies to employ people based on contract basis.
If this is too capital intensive for you, then you can setup a resume writing service from home and profit from the trend.
to be continued
Source: My Top Business Ideas