Lucrative Businesses In Nigeria
Nigeria is a very populated country and the following businesses I'm about sharing with you are very lucrative when done right with knowledge.
Agriculture business
Apart from being one of the most lucrative businesses in Nigeria, agriculture business is an evergreen business.
It never gets old and never fade. As long as human exists, agriculture business will continue to strive. This makes it a very good and lucrative business.
One thing that makes this business so attractive is that there are lots of loans or financing options available for agriculture entrepreneurs in Nigeria.
We have a dedicated Bank of Agriculture operated by the Federal Government through the Ministry of Finance, Central Bank and Ministry of Agriculture.
Many business lenders give lots of preference to the agriculture sector.
And as the government is continually looking to diversify from oil, their major focus is on agriculture.
It will trigger more incentives for this sector. There is huge profit and growth waiting for anyone who ventures into Agriculture business.
Types Of Agriculture Business
Cassava Farming.
With the increasingly diverse use of cassava products in Nigeria, cassava farming is getting more lucrative with every passing day.
This farm product has always been a source of lively hood and food for millions of Nigerians. 90% of Nigerian households consume cassava products every day.
Some of the popular meals made out of cassava are: garri, wheat-flour, animal feed, commercial caramel, and a lot more.
As the population of Nigeria and Africa as a whole continues to grow, the demand for cassava products will continue to skyrocket, leading to higher revenues generated by cassava farmers.
If you’re looking for an agricultural business that would ensure you always almost sell out all your harvests, cassava farming is one great farming business to start.
Rice Farming.
Nigeria is the largest producer of rice in West Africa and the third in Africa after Egypt and Madagascar producing about 3.6 million metric tons on the average annually.
Interestingly, Nigeria still falls short of meeting its local demand which is placed at about 5.5 million tons.
Considering the fact that Nigeria has a huge market for rice, if you are looking for a lucrative agricultural business idea in Nigeria,
you need to seriously consider entering the rice farming business which is undoubtedly one of the most profitable businesses in the Nigerian agricultural sector.
Poultry Farming.
Poultry farming is the process of raising domesticated birds such as chickens, ducks, turkeys, for the purpose of farming meat or eggs for food.
Poultry Farming in Nigeria is probably one of the most lucrative farming business you can do.
The quick maturity of chicken presents one of the finest opportunity for entrepreneurs to make good money within the shortest period of time possible.
With over 160 Million consumers in Nigeria alone, the market is always there waiting to be tapped.
The demand for poultry products such as eggs is so high that people go about every day looking for where to get the supplies needed.
Maize Farming.
The Maize farming business has definitely been thriving in Nigeria for decades.
Maize, which is also commonly known as corn, is one of the most popular food crops in Africa.
Maize is cooked in various ways and millions of Nigerians rely on this crop because it usually costs less than wheat and rice and other common grains and cereals.
The importance of Maize production in Nigeria cannot be overemphasized. A lot of by-products are gotten from Maize.
Maize production gives birth to a lot of other consumables and some of them are: Pap, Custard, Corn Oil, Cornflake, Animal/Livestock Feeds, Corn Flour, Corn Starch, Corn Powder.
Real Estate Business
Real estate investment is a business that involves the management, ownership, purchase, rental, and sale of properties for profit.
Ways Of investing Into The Real Estate Business
Purchase a rental property and become a landlord
If you’re ready to step up to the next level, you might try your hand with a residential rental property such as a single-family home or a duplex.
One of the bigger advantages of this kind of property is that you know the standards of the marketplace and the market may be easier to gauge, as opposed to commercial properties, such as a shopping center.
Another advantage is that it may take a lower investment to get started instead of the potentially hundreds of thousands required for a commercial property.
You may be able to buy it even cheaper if you’re able to find an attractive distressed property via a foreclosure.
Another thing is that you’ll need to manage the property and make decisions as to what needs to be fixed.
Advantages: Can start small with residential real estate, price appreciation, magnified returns through leverage.
How you make money: Capital appreciation, growing rents.
Consider flipping houses
House-flipping has become more of a popular avenue to investing in real estate, but it requires a keen eye for value.
However, this path may help you realize a quicker profit than being a landlord, if you do it right.
The biggest advantage of this approach is that you can turn a profit faster than by managing your own property, but the expertise required is a bit more.
Typically house-flippers find undervalued properties that need to be cleaned up or even completely renovated.
They make the required changes, and then charge market value for the houses, they profit by selling it at a higher price.
House-flippers need a sharp eye for what can be fixed at a reasonable price and the unfixable.
They also need to estimate what a house can later be sold for. If they Miscalculate, their profit might quickly evaporate, or worse, turn into an outright loss.
Or a home might not sell quickly, and then the house-flipper is stuck paying any interest on a loan until a buyer can be found.
House-flippers may collect money from the bank to fund it, since they often prefer to hold houses for months, rather than years. But I won't advise you to borrow money.
House-flipping actually makes being a landlord feel like a passive activity.
You’ll have to manage a crew of people doing many if not all of the repairs, and you’ll need to be the driving force in every transaction ensuring that it gets done and comes in at the budget or below.
And you’ll always be searching for another deal, since you get paid only when you turn around a property.
How you make money: Buying undervalued property and fixing it, and selling for more and repeating the process.
There are many more ways of investing into the real estate business, which you can check out here.
Now for you to safely invest into the real estate business and get massive return on investment, you need knowledge and guidance.
Today I'll give you an eBook for free, the eBook is all about investing into the real estate business. Just click on the link and I'll send you the book immediately.
If you also need a land to buy, I can show you lands that will bring huge return on investment to you.
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