Business opportunities are the way forward for entrepreneurs in Nigeria—that's pretty clear, isn’t it? You definitely understand the significance of getting business opportunities as an entrepreneur.
When we talk about hidden business opportunities in Nigeria, we simply try to understand the various business opportunities and business ideas out there in the business industry that are untapped and not saturated but yet very lucrative.
- What business is in high demand in Nigeria?
- What are the untapped business ideas in Nigeria?
As an entrepreneur looking to start a business online or own a physical business in Nigeria, you need access to the right untapped business ideas and models out there in the business industry. Hence, I’ll help you in your search to discover the various profitable hidden business opportunities in Nigeria.
HIDDEN BUSINESS OPPORTUNITIES IN NIGERIA
Finding the hidden business opportunities in Nigeria has been the aim of business owners and entrepreneurs because these hidden businesses are either untapped business ideas or not saturated.
The following are the hidden business opportunities in Nigeria:
- Real Estate
- Agriculture
- Digital Marketing
- Gym & Fitness Training
- Mini Importation
- Web Development
- Food processing
- Transportation business
- Logistics Services
- POS business
1.Real Estate
Real estate is simply the acquisition of property. It is an untapped and hidden business opportunity in Nigeria.
Real estate is one of the most untapped and hidden business opportunities in Nigeria in recent years for Nigerian entrepreneurs. In the real estate industry, all that is required is to acquire properties, lease landed properties, flip properties, and sell properties for higher returns.
You can either be a real estate agent or a real estate investor. I’ll explain the two terminologies for you to understand better. A real estate agent involves you acting as an intermediary between sellers and buyers of properties. On the other hand, being a real estate investor means you’re investing your capital in real estate by purchasing properties that might be flipped in the long run.
Note: If you’re starting as a real estate agent, I’ll advise you to get your business name registered in order to give yourself credibility and gain trust from those buying or leasing properties from you. Also, partner with the right real estate company that is trustworthy, seek helpful advice, and learn from top real estate agents and investors.
2. Agriculture
There is no doubt that agriculture is one of the most profitable hidden business opportunities in Nigeria. Nigeria is known to widely represent agriculture from its grassroots, but entrepreneurs tend to overlook this business opportunity. In fact, the agriculture business industry is here to stay, and it is never dying anytime soon.
Over the years, importing and exporting agricultural products has been an economic problem because we are expected to produce everything ourselves.
With the rise of agriculture products in Nigeria, ranging from rice to beans and yam, Agriculture has proven to be a top-notch business opportunity for entrepreneurs with decent capital to start up.
Agricultural business opportunities can range from livestock farming to crop production. If you look closely around you, the prices of farm produce like yam, rice, and beans are skyrocketing every single day in Nigeria, and this is never a bad business idea but rather one of the lucrative business opportunities out there for Nigerians.
3. Digital Marketing
Digital marketing is also one of the hidden business opportunities that haven’t been tapped yet by Nigerian entrepreneurs. I’ll tell you why and how.
Digital marketing involves promoting brands and companies to connect them with their target audiences using online media, the internet, or your online presence. Just as it sounds.
Several brands and companies in Nigeria are willing to pay a high price in order to get their services promoted to the right audience and customers. All that is required is for you to learn digital marketing and pick a reliable niche or area of specialisation.
Digital marketing can be of four types: search engine optimization (SEO), search engine marketing (SEM), social media marketing (SMM), and content marketing (CM). Hence, go ahead and use your digital tactics to help brands get an online presence and get high payments in return.
4. Gym & Fitness Training
Gym and personal fitness training are two of the untapped and hidden business opportunities in Nigeria. You might also be wondering how this is possible.
These days, fitness training has been a priority for many Nigerians, and you can take advantage of this hidden business idea and start getting high revenue in return.
This can be done in two different ways. Either you’re a fitness trainer getting paid to train people to achieve their desired fitness goal or you have the money to establish a gym center. These days, gym membership prices in Nigeria range from #10,000 a month and above, and this is one of the most profitable hidden business opportunities in Nigeria.
5. Mini Importation
Mini importation means buying goods and products from foreign suppliers and manufacturers like China and selling them for a profitable price in Nigeria. What makes it more fascinating is that you don’t need to travel outside of Nigeria to purchase these goods and products. All you need is your mobile phone and start-up capital to contact these foreign suppliers.
This is one of the ideal and hidden business opportunities in Nigeria. If you’re also bothered about where to find these foreign manufacturers or suppliers, then don’t worry; I'll provide you with the answers. There are foreign manufacturers and supplier platforms where Nigerians can import different products like clothes, kitchen accessories, and more. Some of these platforms are AliExpress and Alibaba.
Minimalism is ideal, especially when you’re looking to start a physical or online business and you don’t have a supplier or manufacturer. Mini-importation also works perfectly for ladies trying to sell imported goods to other ladies in Nigeria.
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6. Web Development
Another one of the hidden business opportunities in Nigeria is web development. Are you knowledgeable about web development but don’t know where to find clients to work for? I’ll give you the cream of the crop.
Web development is simply the process of creating and designing websites, web applications, coding scripts, and other related services.
There are several people out there looking to create church websites, school websites, restaurant websites, corporate websites, company websites, e-commerce websites, and many other types of websites and web applications. You can put your skills to the test and make a lot of revenue from this because it is untapped and hidden. You can render your services and get paid in dollars in Nigeria when you work for foreign clients through platforms like Fiverr and Upwork.
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7. Food Processing Business
Food processing business is another one of the hidden business opportunities in Nigeria.
Food processing is the transformation of agricultural products into food items for human consumption. The icing on the cake is that these foods are needed for exportation to other countries.
These food processing methods can range from milling to grinding and other industrial processes if you have the right machines for them. The food processing business goes beyond grains; it can range to producing food products like cereals, bread, fish, salt, and other fibre products.
You must have come across a local method of turning cassava into garri. You can take yours into a modern method by getting the necessary technology and machines for that. You can also go through the grinding route. This means grinding agricultural produce like maize, guinea corn, or grains generally into raw flour for human consumption.
8. Transportation Business
The transportation business is untapped and is also one of the hidden business opportunities in Nigeria. The transportation industry is growing every single day as people tend to travel, go to work, go to church, and go to events and ceremonies.
If you have the necessary capital to raise a vehicle for a taxi or Uber, then this is a lucrative business opportunity for you. Especially in a landscape like Lagos State, the majority of people tend to rely on Uber and taxis. You can raise capital to start up and employ someone with the responsibility of transporting people.
9. Logistics Services
Logistics services aren’t new in Nigeria. In fact, this is very lucrative and can be one of those hidden business opportunities for you. I’ll tell you how it works.
These days, we all order things and merchandise online, and we get them delivered to us for a fee called delivery charges. Now take your time and calculate how profitable it looks if you sum up the amounts you ever paid for the dispatch or delivery of things you purchased.
If you have the capital to start up a small dispatch service or company, then you can go ahead and partner with either a restaurant that always delivers food or a distribution company to help them deliver their goods to customers.
Don’t let this sound complicated to you. It’s not difficult as long as you have the capital to start a dispatch service.
10. POS Business
You might be wondering why I added this to the list. You might also feel it’s not a hidden business opportunity. I’ll prove you wrong.
POS business in Nigeria is literally one of the hidden business opportunities in Nigeria. The reason this is lucrative all comes down to one factor: location.
Ask yourself how many times you made use of POS services or POS machines to withdraw in the last year in this cashless society. Also, ask yourself: Why are there too many POS businesses in Nigeria? Also, ask yourself why business owners and restaurants make use of POS for payments. This is because we live in a cashless society, and with the scarcity of ATM machines, you can be successful in the POS business only if you pick the right and most suitable location.
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OTHER HIDDEN BUSINESS OPPORTUNITIES IN NIGERIA
- Travel agent and planning
- Online Food business
- Affiliate Marketing
- Blogging
- Fashion business
- Building materials business
- Wholesaling and retailing
- Freelancing
- Fish farming business
- Snail farming business
- Resume writing
- Car wash business
- Palm oil business
- Charcoal business
- Baking business
- Catering business
CONCLUSION
There are countless hidden business opportunities for Nigerians out there. The purpose of this guide is to help you understand and highlight any interests that you may desire to venture into.
Starting one of these untapped or hidden business opportunities may require little start-up capital, whereas others may not. It is important to understand each business industry and how it works before you venture into any of them.