There are many sectors to invest in Nigeria that is capable of making a smart entrepreneur a lifetime wealth. Many investment opportunities in this country present itself as a problem that anyone can take advantage of.
Nigeria with over 200 million people has an outstanding market due to her huge purchasing power. Whether you are a small business owner, entrepreneur, or large organization, there are always the best investment opportunities you can key into different sectors of the Nigerian economy you can invest in. Even though there are many sectors to invest in Nigeria, we will only be taking a look at the top 10.
List of Sectors to Invest in Nigeria
Below is the list of 10 top sectors to invest in Nigeria for profits.
Agriculture is one of the best sectors to invest in Nigeria for wealth creation and profitability. Not only does it have a high return rate, but it’s also can be done with low labor costs. Nigeria also has a perfect weather condition that encourages agriculture with fertile and arable soil.
You can consider livestock farming ranging from pig farming, poultry farming, snail farming or focus on the production of crops like rice, tomatoes, beans, plantain, maize, and so on. If you aren’t interested in direct farming, you can also invest in agricultural companies. They help to invest your money and return it periodically with interest.
Nigeria has a huge purchasing power unfortunately, only a few indigenous companies are enjoying it. And a larger percentage of the purchasing power is extended to outside the country. Most of the household and other types of products used in Nigeria are imported which shows the fact that the sector is under-tapped.
The manufacturing sector in Nigeria needs a lot of investors who are capable of producing goods and commodities needed by Nigerian. With good marketing and distribution strategy, investing in the manufacturing sector will be one of the best sectors to invest in Nigeria.
One of the best investment opportunities and lucrative sectors to invest in Nigeria is Education. We are all aware of how public schools in Nigeria have fallen over standards paving ways for private investors and entrepreneurs. The need for good education either for professional career, skills, and knowledge can’t be overlooked as many are striving to acquire it for many obvious reasons.
You can come into this sector by either providing a standard basic schools, tertiary schools, trades learning concentered other related schools. With a good penetrating strategy, you are in for a profitable adventure.
4. Health care
No doubt, the provision of good quality care is one of the lack and problems of the majority living in Nigeria. Health care is also one of the booming investment opportunities in Nigeria.
Providing quality care by investing in building hospitals where needed while hiring the required manpower. You can also partner with many organizations to do that.
5. Digital or Information Communication Technology(ICT)
ICT is one of the fastest-growing sectors of the Nigerian economy you can invest in. The world is going digital and Nigeria is not left behind. With a lot of millions of users online, you can invest in this sector by providing pertinent solutions to the problem faced by many.
You can take advantage of this business opportunity by partnering with organizations or render services to the users. You may want to focus on some of these under-tapped goldmines including programming, apps development, software and hardware developing, artificial intelligence, and so on.
The Nigeria Entertainment industry has witnessed a lot of flourishing in the past years ranging from music to movie production to spring of relaxation centers like cinemas.
Despite being one of the growing and popular sectors, there is still space for many investors to come in. There is still a need for many relaxation centers, movie production companies, music production companies. Also, the production of many types of equipment is used including cameras, studio sets, and training of the sector professionals.
7. Real Estate
The real estate sector has one of the best investment opportunities in Nigeria. Because almost everyone will need to live in a house whether they can afford land or not. You can buy land in the major cities and sell back when it appreciates in returns. Or invest by building large commercial buildings like the hall to lease for conferences, seminars, and other events. Either way, you are bound to make a profit even though this type of business opportunity will require a large capital.
Unlike the ancient days, traveling has been one of the evolving daily activities indulge by many. Almost everyone travels nowadays and the transportation sector keeps developing.
You can take the advantage of this investment opportunities by starting a transport business; providing safe and comfortable movement for people between states and cities. Invest or established airlines, traveling agencies, or partner with trusted organizations to achieve that.
9. Power and Electricity Generation
Unstable electricity and power failure remain one of the problems facing Nigeria. Unfortunately, most daily activities depend on electricity prompting many Nigerians to generate and provide electricity by themselves.
Which heightened the need for generators, inverters, and other related materials as well as experts and professionals. You can also leverage the investment opportunities in this sector by partnering with companies to provide these materials. You can also be responsible for training experts with the required technical know-how.
10. Oil and Gas
Oil and Gas is another best sector with different investment opportunities. Nigeria currently depends on oil and gas for most of its revenue, you can decide to play dominantly in the sector by supporting the government with refineries or start the production/ distribution of the end products including Asphalt, bitumen, and the rest.
Irrespective of the sectors you choose to invest in. Bear in mind that you need to have at least the basic knowledge of how it works before putting your money there. We hope you find this helpful towards your investing journey.