15 Fastest Growing Business Opportunities in Nigeria Agricultural Sector 1. Catfish and Poultry Farming The first 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 its an emerging industry that hasnt reached its peak or full potential. The major players in this business are usually regional players. What this means in essence is that each major player in the catfish farming industry is focused only on a particular business terrain within the geographical location of the farm. to be continued... Textiles Sector 2. Importation of wears Importation of clothes (designer wears) into Nigeria is another fast growing business opportunity you can tap into but I must warn you; you will be breaking the law if you engage in this business because theres a ban by the federal government on the importation of wears. I listed this business opportunity for those who have the entrepreneurial guts to take calculated risk. to be continued... 3. Sewing of specialized uniforms If you dont have the entrepreneurial guts to go into the importation of wears; then you can set up a small scale textile firm that will specialize in sewing uniforms. The demand for uniforms is on the increase in Nigeria; from the crèche to the labor market, uniforms are highly in demand but its advisable you do your own detailed research before venturing into the business. Transportation Sector 4. Inland water way transport Inland water way transport is one of the fastest growing business opportunities in Nigeria. In fact, I believe the niche is still untapped because I am yet to see a modern commercial boat or ferry service system in Nigeria. Though there are a few operators in this industry; I am yet to see the modern facilities being used by the developed countries. to be continued... 5. Haulage and logistics Haulage and logistics is another fastest growing business opportunity in Nigeria. Though its considered a risky business; you can breakthrough if you have a strategic business management team on ground. Good management is the key to surviving in the business of haulage and logistics. 6. Outsourced bus service This is similar to haulage and logistics but the cargo in this case is humans. I am not talking about the regular road transport bus service; in fact, I dont think I have seen the idea for this business been utilized by anyone. to be continued.. Information and Communication Technology When it comes to ICT, I will say Nigeria is lagging behind when compared to the western world. It may sound like bad news to you but to entrepreneurs and investors, it is good news. ICT is still an emerging trend that hasnt reached its peak so a lot of opportunities exist for both local and foreign investors. I wont go into the capital intensive business opportunities that exist in the ICT sector; rather, I will stick with small and medium scale business opportunities. 7. Cyber Café The demand to stay connected to the rest of the world is rapidly on the increase and the cost of internet connection is still on the high side when compared to what is obtainable in the western world, thereby making cyber café an alternative for internet users; and an investment opportunity for entrepreneurs. This business can be started either on a small, medium or large scale but I will prefer a large scale because size can be a competitive edge for you in this business as customers wont like to be kept waiting. to be continued... 8. E-Services Just as the world is going e-crazy; so also is Nigeria catching up with the trend. E-services provision is still a virgin business opportunity that hasnt fully been tapped. Under the umbrella of providing e-services; you can find the following fast growing business opportunities: E-payment, bulk Sms services, web design and hosting, database management services, e-portal management, etc. Education The need for education is on the increase and the burden to provide quality education is getting heavier for the government to bear thereby, leaving room for private and institutional investors. The following are ways you can tap into the potential opportunity. 9. Schools A lot of institutional and private investors have gone into building quality schools and providing quality education but the potential has not been reached. With a population of over 150 million Nigerians, where 65% are below 40; theres still untapped potential in this niche. You can access this business opportunity from different entry levels. You can tap into this niche by providing either crèche, primary, secondary or tertiary education but all entry levels holds strong potential. Please carry out your own analysis before investing in any level of this business opportunity. 10. Seminars Not everyone loves being educated within four walls of school. Some prefer street smart education or high speed learning and thats where you come in. You can set up a seminar company that organizes coaching services according to the current needs and trends of the society. 11. Training centers Specialized training or educational centers is another fast growing yet untapped business opportunity in Nigeria. Examples of specialized learning centers are Leadership training schools, entrepreneurial centers, training centre for the gifted and physically challenged, training centre for hobbies and crafts, etc. 12. Tutorial centers With the proliferation of academic and professional exams, tutorial centers have joined the list of fastest growing business opportunities in Nigeria. You can access this business opportunity by choosing or specializing on a training need. You can focus your proposed tutorial centre on any of the following: ICAN, GMAT, WAEC, JAMB, GSCE, CIS, job interview training, etc. and more
