How to invest $500,000 in Nigeria? (2024)

How to invest $500,000 in Nigeria?

The business to start with 500k in Nigeria include e-commerce, food, logistics and delivery, as well as event planning. You could also establish a car wash, a bookstore, a small-scale grocery store or a thrift store.

What business can start with 500k in Nigeria?

Some of the best profitable businesses to start with 500k in Nigeria are a POS business, a Used books business, a Car Wash business, a small logistics business, a beauty and barbing salon as well as an online store.

What is the most profitable business in Nigeria?

Nigeria: 10 most lucrative industries in 2023
  • Agriculture. ...
  • Technology. ...
  • Online retailing and e-commerce. ...
  • Entertainment and media. ...
  • Professional and consulting services. ...
  • Pharmaceuticals and healthcare. ...
  • Food industry. ...
  • Fashion industry.
Oct 11, 2023

What business can I do with five million naira in Nigeria?

Here are some business ideas you can consider with a budget of 5 million naira: Agriculture: Invest in crop farming, poultry, fish farming, or snail farming. Agriculture can be profitable, and Ogun State has favorable conditions for various agricultural activities.

What business can I do to make millions in Nigeria?

Oil and gas business

Well, that's easy! It means that you can start a profitable business in the oil and gas sector. For example, you could invest in a cooking gas depot and sell directly to homes and businesses. Or you could build a filling station and serve a section of the 11.8 million cars in Nigeria today.

What business can I start with 2.5 million in Nigeria?

With 2.5 million Naira, you can set up a website, purchase inventory, and invest in online advertising to reach potential customers. Agriculture: You can start a small-scale farming business, such as poultry farming, fish farming, or vegetable farming.

What are the 3 fastest growing industries in Nigeria?

The country's overall GDP growth rate has slowed down in 2022, with a growth rate of 3.1% in 2022 compared to 3.4% in 2021. The top three fastest-growing sectors are Quarrying and Other Minerals, Air Transport, and Financial Institutions.

What is the fastest growing company in Nigeria?

Further findings showed AFEX Commodities, founded in 2014, topped the list, posting a 22,076 percent increase in revenue from N185. 7 million in 2018 to N41. 1 billion in 2021. Monipoint, a digital banking platform for businesses, was ranked second; the firm's revenue grew by 7,372 percent from N837,850 to N62.

What business can I start with 150k in Nigeria?

₦150,000 Can Get You Started with Affiliate Marketing Arbitrage. You might be wondering if ₦150,000 can get you started in this business and help you earn big. OH YES! Affiliate marketing is an online business that literally anyone can do from the comfort of their home and make a substantial amount of money.

What is the best business to venture into in Nigeria?

Whether you are looking to start a business from scratch or invest in an existing one, there are plenty of opportunities available in Nigeria.
  1. Point of Sale (POS) ...
  2. E-commerce Store. ...
  3. Fast Food Restaurants. ...
  4. Mobile Food Truck. ...
  5. Food Delivery Service. ...
  6. Solar Energy Installation. ...
  7. Digital Marketing Agency. ...
  8. Real Estate.
Mar 26, 2023

What is the best business to start in Nigeria 2023?

Lucrative business in Nigeria: Key sectors to explore
  • Agriculture and agribusiness. ...
  • E-commerce and online retail. ...
  • Fashion business. ...
  • Real estate development and construction. ...
  • Technology and startups. ...
  • Education and training. ...
  • Healthcare services. ...
  • Food and beverage business.

What is the best business to start in Nigeria?

55+ Profitable Business Ideas In Nigeria Or Africa
  • Agricultural Export Business. ...
  • Poultry Farming. ...
  • Fish Farming. ...
  • Snail Farming. ...
  • Rice Farming and Processing. ...
  • Organic Farming. ...
  • Processed Food Production. ...
  • Solar Energy Installation.
Dec 4, 2023

What business moves fast in Nigeria?

E-commerce is a prime example of a fast moving business in Nigeria, driven by increasing internet penetration and the adoption of mobile technology. Online shopping platforms such as Jumia, Konga, and Jiji have made it easier for consumers to purchase goods and services from the comfort of their homes.

What is the cheapest most profitable business to start?

Here is our list of the most profitable businesses with low startup costs:
  • Information Services. ...
  • Social Media Management. ...
  • Dropshipping Business. ...
  • Event Management. ...
  • Cleaning Services. ...
  • Errand/Concierge Service. ...
  • Accounting Services. Average Net Margin: 22.01% ...
  • In-Home Caregiving Service. Average Net Margin: 23%
Jun 23, 2023

Which food business is most profitable in Nigeria?

50+ Lucrative Food Manufacturing Business Ideas in Nigeria Or...
  • 1). Biscuit Manufacturing Business:
  • 2). Ketchup Production Business:
  • 3). Fruit Juice Production Business:
  • 4). Meat Processing Business:
  • 5). Chocolate Manufacturing Business:
  • 6). Rice Flour Milling Business:
  • 7). Tomato Paste Production Business:
  • 8).
Sep 18, 2023

What is the best business for a woman to start in Nigeria?

Start an Online Store

This is one of the easiest business ideas for ladies in Nigeria. With social media platforms like Instagram, TikTok, and Facebook making it easier to sell products online, there's no better time to start your online store.

Which small scale business is profitable in Nigeria?

At-home business ideas
  • Launch your own book. ...
  • Create digital products or online courses. ...
  • Test app development. ...
  • Start an online coffee shop. ...
  • Become a social media management consultant. ...
  • Offer résumé writing services. ...
  • Translator. ...
  • Travel planner.
Jan 15, 2024

What is wealthy in Nigeria?

7m To Consider Yourself Rich In Nigeria – - Family - Nairaland. For a Nigerian to break into the one percent population of the wealthy, it will now take a net worth of $70,000 (N28. 7 million), according to the latest Knight Frank Wealth Report.

How to buy a 2 million dollar business with no money?

Tips for Buying a Business with No Money Down
  1. Look for an Owner Who is Ready to Get Out. ...
  2. Look for an Underperforming Business. ...
  3. Offer a Higher Interest Rate/Larger Payment in Exchange for Your Labor. ...
  4. Bring on a Silent Partner. ...
  5. Find a Secondary Source of Financing. ...
  6. Raise the Capital Through Crowdfunding.
Oct 12, 2022

What can 3 million naira buy in Nigeria?

Top 10 Cars You Can Buy With Three Million Naira in Nigeria
  • 2007 Ford Edge. Ford Edge vehicles are becoming increasingly popular on Nigerian roads. ...
  • Honda. ...
  • Mercedes Benz CLS550 2007. ...
  • Toyota Corolla 2014. ...
  • Toyota Camry 2007-2011. ...
  • Lexus ES300. ...
  • Peugeot 307 (2004 Model) ...
  • BMW X5.

What is the strongest industry in Nigeria?

The oil sector provides for 95% of Nigeria's foreign exchange earnings and 80% of its budgetary revenues. Note: Top 3 trade partners are calculated by imports + exports.

Which sectors are the richest in Nigeria?

In 2022, agriculture contributed around 23.69 percent to Nigeria's GDP, 30.78 percent came from industry, and 44.04 percent from the services sector.

What does Nigeria produce the most?

It is the largest producer of sorghum in the world just after the United States, and ranks fifth in the production of palm oil and cocoa beans. Nigeria is also a large global exporter in this sector. Oil, fruits, nuts, seeds are among the ten best performing export categories.

What is the best business to start with 500K?

Top Profitable Business You Can Start with 500K: A Comprehensive...
  • Franchising.
  • E-commerce Business.
  • Tech Startup.
  • Event Planning.
  • Logistics and Delivery Services.
  • Food Business.
  • Bookstore.
  • Car wash.

What type of business can I start with 400k in Nigeria?

If your passion is money itself then there are many options for you.
  • You could start by selling eggs. ...
  • Fashion is another thing that would boom - after a lot of work though. ...
  • A mobile kitchen is another good one. ...
  • Makeup and accessories is another startup you could enter into. ...
  • Hair business is another thing you can start.
Jun 3, 2019

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