Top 5 Most Profitable Businesses in Nigeria

0
33
Top 5 Most profitable Businesses in Nigeria
Image Credit: Dayo Adetiloye

Nigeria’s atmosphere is suitable for businesses and many
people have taken the advantage of this to make the most out of their
businesses. You may not know the actual business with the highest profit but it
is quite easy to identify the most profitable businesses in Nigeria.

This article focuses on the top 5 most profitable businesses
in Nigeria. Millionaires have emerged from these businesses and this
practically reveals how profitable they are.
Sale of Furniture

This business has the potential to thrive under every
circumstance because everybody likes to furnish his/her residence. Furniture
items such as chairs, tables and wardrobes are needed to complement the beauty
of splendid homes. For this reason, rich people go to furniture dealers to see
the furniture items in stock.
Interestingly, this business doesn’t necessitate being a
carpenter. All you need is substantial capital to set up a beautiful showroom
and get regular supplies of furniture from local carpenters.
Importation of Second-Hand Vehicles

In Nigeria, second-hand vehicles –also known as Tokunbo
vehicles –sell faster than the new ones. Many Nigerians can’t afford new
vehicles and that is why they prefer to opt for the used ones. With substantial
capital, you can import used vehicles from advanced countries like China,
Germany and France.
Transportation Business

In Nigeria, transportation companies make reasonable profits
but as good as it seems to them, supernormal profits roll in during some
festive periods when numerous Nigerians travel from one corner of the country
to another. With huge capital layouts, many shrewd Nigerian investors have
bought several cars and employed professional drivers to convey passengers/goods
from one place to another.
Hotel Business

Hotel Business is an opportunity for large-capital investors
to make the best out of investments. Investing in hotel is really lucrative but
to ensure you don’t run out of profit, you have to consider the location of the
hotel. If you’re just thinking about this business, make sure the hotel is
located in an area with high concentration of white-collar jobs.
Irrespective of economic situations, the management of
hotels will continue yielding profit because when people are away from their
residential quarters or even home countries, they prefer lodging in hotels in
the meantime.
Exportation of Raw Materials

This business is best enjoyed by Nigerian farmers who grow
large-scale export commodities like cocoa, sesame seeds, garlic and lots more.
Without doubts, Nigeria needs to export some of its agricultural products to
the countries where they are in high demand. In order to facilitate
exportation, Nigerian farmers are encouraged to engage in large-scale farming
which should be sufficient for commercial purposes.
Exportation is one of the most profitable businesses in
Nigeria simply because the country still focuses on exporting raw materials as
a basis for expanding its revenues. If you’re into the business of exportation,
you need adequate information about the commodities you’re allowed to export
from Nigeria to other countries.

Connect with us on Social media
Please follow and like us:
RSS
Follow by Email
Facebook
Google+
https://jaysciencetech.com/2018/01/top-5-most-profitable-businesses-in.html
Twitter
LinkedIn
Instagram

Leave a Reply