Rising Africa - 10 Lucrative Businesses in Nigeria

1. Rising Africa: • 10 Lucrative Businesses in Nigeria

2. Ever wondered WHICH PROFESSION SUITS YOU MORE? Find out 10 lucrative businesses that you might find interesting

3. Poultry Farming Huge Market- With 100 million Consumers for poultry products Chickens are ready for Market in 28-30 weeks Less time span helps investors garner ROI quickly Loan repayment will be easier as investment mature faster Chicken is worth 2000-2500 Naira Egg market meanwhile continues to be attractive

4. Building Material Supply Business  Nigerian Economy is one of the fastest growing in Africa The economy is the largest in Africa with GDP worth $510 billion Construction industry is only 3.2 % of GDP, is to grow the faster Massive urbanisation will lead to boom in material supply Focus on marketing aggressively as it can be a highly competitive field Get good location, and network of suppliers and buyers Initial investment will be high, with attractive returns

5. Rice Farming Huge market- Demand is so high that Government imports rice In 2013 rice importation bill was at N75 billion Rice consumption increased in last 2 decades Government policies like NFSP to support rice production in Nigeria Huge thrust given to Agribusiness sector Takes less than 4 months for harvesting hence quick returns Rice is a high yield crop and requires not much expertise Rice is a fast selling product hence its called 'Get Rich Quick Farming'

6. Oil & Gas Business Huge international market- Demand for oil & gas is high This is a risky but high return business Multiple opportunities Oil Drilling & Exploration Equipment leasing Filling stations Oil & Gas consulting Contract basis Petroleum supply Oil & Gas services-safety, monitoring, installations etc. Huge potential due to the large oil reserve found in Nigeria

7. Hotel Business This industry is understood by analyst to be profit making Nigeria witnessing economy growth and political stability Above factors will lead to increase in tourism and other travels For tourists Nigeria is becoming a choice destination in Africa Now hotels can be classified in terms of location, quality and size Some examples are Airport hotel, business hotels, Condo hotels, Conference hotels, Resort hotels , Suite hotels Entrepreneurs have to decide on hotel type based on initial capital and operational constraints they foresee

8. Property Investment Government announced plans to build several cities in the next few years The focus on infrastructure development will boost property rate There are plans to develop satellite cities around FCT Increasing demand for high-end office space, retail space and affordable residential housing The growing expatriate population and the emerging middle class is boosting the demand As Nigeria’s economy grows, lucrative investment opportunities for property investors are going to rise

9. Internet Based Companies This is one way to get maximum return on investment The market here can be domestic as well as international The reach of internet makes this business an attractive proposition To start with you have to identify a business problem Once identified next step would be find a web based solution Here are some examples of internet based businesses Website designers E-commerce Promoting copyright products Social media marketing

10. Water Purification The government has failed to deliver basic drinking water to each household Nigeria is seeing a steady increase in population One can foresee a huge demand for water purification business Currently 2 ways of delivering are through bottles and sachets Sachets seems to be more affordable for the poor Whether bottle or sachet can be decided based on capital availability The setup capital will be between 5 million to 10 million Naira Getting loan will be easier for this business

11. Furniture Business As economy is growing the middle class is also rising Lot of offices and houses are coming up in urban areas These spaces will need furnishing Nigerian furniture is more affordable than imported designer furniture Entrepreneurs should focus on Nigerian furniture market Analyst say N200,000 is the minimum capital requirement to start Ibukun Awosika - the founder of Quebees Ltd, and Chair Centre Ltd  is a great example to emulate 3 major requirements are Raw materials, Carpenters and Showrooms

12. Restaurant Business Entrepreneurs can target small scale restaurants to start with Small scale restaurants will require low startup capital One can say that this business will withstand any economic crisis Industry experts say that with N300,000 you can start a local restaurant The profit returns are also high in this industry Minimum requirements here are, Location Utensils and other instruments Furniture Excellent cook

13. References http://www.wealthresult.com/ http://telegraphng.com/ http://pointblanknews.com/ http://business-matter.com/ http://www.tradeinvestnigeria.com/ http://www.nigeriawebsuccess.com/ http://pixabay.com/for images

14. Mara Foundation’s Ambition We enable, inspire and empower ambitious entrepreneurs in Africa. With the support of our Mara Mentors we will:

15. THANK YOU Website: mentor.mara.com App: iTunes, Blackberry, Android, and Nokia. Customer Support: support@mentor.mara.com Mara Foundation is supported by a number of partners, including: