Easiest Ways Of Making Money & Businesses To Do To Become A Millionaire In Nigeria

Easiest Ways Of Making Money & Businesses To Do To Become A Millionaire In Nigeria

There are many businesses in Nigeria that can make anyone a millionaire in time. The youngest billionaires in Nigeria all started from somewhere and persisted to become as rich as they are today. Money making ideas in Nigeria are not far-fetched and there are one thousand and one ways to make money in Nigeria which the richest youths have followed to become rich. Some people even go as far as looking for spiritual ways of making money but there are several ideas you can follow to become the millionaire you want to be.

This article will discusses the top money making ideas in Nigeria and so that you can choose anyone that suits you to start with and earn a fortune. The following are the top money making ideas in Nigeria.

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Online business

The internet is a powerful tool for transmitting information but recently, the internet has become one of the best and easiest way to make money. Many people have heard about the ability of the internet to make people rich and are asking how they can become millionaires online. Well you will get your answer shortly.

One of the main ways to earn money online is through online marketing. This is a method of selling products on the internet the same way you can sell in a physical store. Major online stores in Nigeria like Konga and Jumia rake in millions of Naira every month from sales online without having to meet with any physical customers. Buying online is much easier because you can sit in your parlour and order a product that will be brought right to your doorstep. Perhaps this is why online marketing is taking over from physical stores. There is also a method of online marketing called affiliate marketing, in which case you don’t have to own a product rather you help to market someone else’s product and you get a commission for every product you sell. Some of these products sell fast and you could be making more money than you anticipate in a short time.

Another way to earn money online is by doing freelance jobs such as writing, web design, app development and many other tasks. People who need these services will pay you to work for them and you are not considered an employee but a freelancer so you have the liberty of doing what you want when you want to. The internet therefore holds many opportunities for everyone to become a millionaire.

Businesses You Can Do To Become A Millionaire In Nigeria

Real Estate

The only physical asset that is known never to depreciate but only appreciate over time is land. The next thing with the slowest rate of depreciation is a building, which takes up to 50 years to start showing signs of depreciation. This is a major means of making money because once you buy land, that land continues to appreciate in value until you decide to sell it. It you develop the land by building houses on it, you continue to reap from the building for a long time especially if you rent out the building. Many landlords are making it big in Nigeria as tenants continue to pay them rent for their buildings. Even real estate agents who serve as middle men between landlords and potential tenants are making a lot of money so this is a good way to become rich in Nigeria and one you should consider investing in if you are serious about becoming a millionaire.

School ownership

Owning a school is a money maker in Nigeria. This is evident by the increasing number of private schools in Nigeria. Starting a school is not as difficult as it seems because you may be intimidated by the sizes of schools you know. Most private schools started in rented apartments, some in the proprietor’s parlour. Eventually the school grows as parents start paying school fees. Structures can be erected and then eventually you will move to the permanent site of the school. Most schools start with Creché then they include Kindergaten, primary and secondary schools. This is also a self-sustaining business that brings a lot of profit so you should take a shot at it!

Importation of products

Nigeria depends largely on imported products whether electronics, clothes or any other thing. Therefore the business of importing products for sale in the country is a great way to make money and become a millionaire. Some of the imported goods are bout at a cheap rate and the sold in Nigeria at a high rate thus making huge profits. There is not one person who is into importation that is not making it big in Nigeria. Electronics seem to sell fastest so for a start you should go for those and after you have established then you can start importing other things that take longer to sell.

Transportation business

One of the most thriving businesses in Nigeria is transportation. Nigerians still depend on roads as the major means of transportation and people travel every day. This makes transportation a lucrative business that will never fail because vehicles can never be too many in Nigeria especially during festive periods. Some people earn a full time living driving passenger vehicles either locally within a city or inter-state. Both methods work and they bring in a lot of money such that you can live solely on driving. You don’t even have to drive the vehicle yourself because you can own more than one vehicle depending on your financial capability. Many transport companies employ drivers to drive their vehicles and are making it big time. You also can start a transportation business and excel in it. You can start by buying only one vehicle which you will now use the money it generates to buy more. This is how most transport company owners started and have grown into multimillion Naira businesses.

Sale of building materials

Nigeria’s population has been growing rapidly in the past decade and there is need to build houses to accommodate people. The people selling building materials therefore have been very successful because there is always need for building materials. This is definitely another good business to venture into and make a lot of money. It is a business that will never lose patronage because people will continue to build houses. This business doesn’t need high capital from the beginning. You can start with as little as #50,000 selling only cement and then you can expand from there to include electrical fittings, pipes and plumbing materials.

Hotels

Hotels business is a booming business in Nigeria because of the constant need for accommodation whether you are traveling to another state or people coming in from other countries. There are so many hotels in the country but they are never enough. These hotels make a lot of money by providing services like accommodation, restaurants, swimming pool, shopping mall etc. this is a business that will continue to be relevant as long as the modern society continues to exist. If you are looking for a good business you can invest in, this is a good one. It may require quite a large capital depending on the size and quality of hotel you want to build but it is completely worth it because of the money you will make once the business kicks off.

Farming

Farming sounds like a poor man’s business but it actually is an easy way to make huge money. Many people into farming are aking millions producing crops whether annual or perennial crops. You can start with annual crops that you can produce in large quantities and sell to people who will go and sell to consumers. Some crops that are very marketable now are cereals generally and tubers. After establishing and making enough money, you can start producing things like cocoa, oil palm and other money making perennial cash crops in the country. If you are looking for what to do to make fast money, this is a good option. All you need is fertilizers, pesticides, herbicides and pay for labour because you don’t have to do the work yourself if it is large scale farming.

Poultry farming is another great way to make a lot of money in Nigeria. as a matter of fact Nigerians can never have too many poultry farmers as most of our poultry products are imported. There is a high demand for eggs and chicken that has not been met so more farmers need to produce eggs and meet. Although this business requires a lot of capital input from the beginning, it eventually becomes self-sustaining and starts yielding huge profits. All that is required for his business is to acquire land and construct a farm house which is easy to make. Maintenance is important to continue reaping profits from this business. it is surely a business to try if you want to be financially independent.

These are the major money making businesses in Nigeria that will give you a lot of money in a short time once the business starts. If you have any comment drop it in the comments section. Thank you for reading.