Lucrative Businesses In Nigeria In 2020 – High Paying Profitable & Low Startup Capital Business Ideas
The days of ready made white-collar jobs in Nigeria are gone. This is no thanks to the bad economy management by the various governments. In all of this, those who know their onus will step up their game and make a profitable living. No one should think the problem is particular to Nigeria. It is a global phenomenon. It is, therefore, gratifying to know about lucrative businesses in Nigeria in 2020. Good enough the year is still young.
The myth that you need huge sums of money to start a business in Nigeria is about to be demystified with these lucrative businesses you can do in Nigeria in 2020. As against some belief in a certain quarter, Nigerians are industrious and profit-oriented.
In this post, I will share with you lucrative businesses you can do as Nigerians. It will also surprise you; you can do some of these businesses in the comfort of your home. To make it a reality you don’t need to break a bank before you break the jinx of unemployment.
However, I must warn you this is not a get rich quick scheme. You can cross the poverty line with a little patience. All you need is your readiness to start small. By research, those who made it big time began small. Most multinational and blue-chip companies began at home in the driveway or garage. Most times the innovators never imagined it will go beyond their community. But today, they are touching lives. I see you succeed in 2020.
Fastening your seat belt, as we cruise through some of the profitable businesses you can do in Nigeria in 2020.
High paying businesses To Do in Owerri Imo State this year
Imo state having Owerri as the state capital is one of the states in the eastern part of Nigeria. The state is known for its timber and palm oil. This is apart from the natural resources of mine and other God-given potentials.
It is on this note, I will be sharing some of the other business potential available to you in this people loving community.
- Palm oil
As I said earlier palm oil is a major business you can do in Owerri. If going into palm plantation because of the cost and duration of maturity, you can be a major supplier if the product. All you need is to research where you could be buying in wholesales. It is not difficult to get a buyer for this product because they are of high quality and always in demand. This is so because an average African man including Nigerians will you red oil in their stew and soup. In fact, major Nigeria cuisine cannot be prepared without the palm oil
That is what makes it a hot cake business you can do in Owerri this year. You could either be selling it in the metropolis or take it to other states especially Lagos.
- Fairly used wares
Buying new clothes is a luxury these days. The priority of many people now is food. So people make use of the clothes, bags, and shoes they have most importantly for the children. It is believed in some quarters that this fairly used cloth serves them better. It is called Okrika or bend down and select. I have come across high-class ladies going for this stuff in place of new ones. Sometimes if you see some of the used materials you doubt if they ate not new. Good enough, they are cheap. This business thrives in Owerri and you can start as well. You can choose to engage in
- Farming business
Thank God for the present government economic diversification program. If you key into this idea, you can go into farming in Imo state. It is a profitable venture as we have enough virgin farmland that can be a lease. Apart from that, government policy is equally favorable.
Businesses you can do with a small start-up capital in Nigeria.
Capital is a major constraint in starting a business. But that fear is about to be demobilized as I show you some businesses you can do in 2020 with a little capital
Businesses that requires between 10000 to 50,000 Naira
- Selling of drinks
- Popcorn business.
- Telephone accessories
- Downloading of music, video, app, and games
- Raw food
- Dry cleaning
- Shawarma and barbecue
- Chin chin and plantain chips
- Cold room and ice block production and sales.
- Phone and battery charging
- Sports viewing center
- Car wash
- Event management
Profitable businesses you can do in Asaba Delta State
The seat of governance of Delta state is Asaba which is the state capital. Today, the state, ranked third as the oil-producing state in Nigeria. Being one of the major cities after Warri you can be sure of several business opportunities.
- Oil and gas services
As you know, delta state is one of the Nigerian oil-producing states so involving in oil and gas services will be a money-spinning opportunity.
You can start the supply private homes, industries, eatery, school and establishment with oil and gas. You can start small, by getting a bike to visit homes, pick their cylinder fill it for them and return in a good time. This will save them the trouble of taking the cylinder by themselves and the queuing at the gas station.
Asaba is home to some agricultural products like fisheries, tubers like yam, cocoyam, potato, and cassava. You can either go into the farming of these products or the supplying. With the connection with the local farmers, you will buy direct from them and sell to the wholesaler if take to the city like Lagos or Abuja.
Nowadays roasted catfish sell like gold. This you can package and sell to high-class people.
- Transport business
One flourishing business you can do Asaba is the transport business. It could be interstate or intrastate. Whether you should transport goods or passengers, you are in for an outstanding result.
- Show business. Delta state is home to stand up comedy. If you are funny and talented you will be making cool money on your investment in music and show business.
Businesses you can do in Abuja
Abuja is home to most Nigerian politicians, expatriate, and businessmen and women. Currently second to Lagos is a fast-growing city in Nigeria. These are a few of the lucrative businesses you can do Nigeria in 2020.
- Real estate. One area in high demand in real estate. Since we have various categories of people in the city, the demand for accommodation will always be relevant. Since not many people can build a house in the city center you can be rent agents to property owners.
Another way of making money if you have some capital is to buy and build houses in the remote area not far from the city center. With that, you can lease with the company to secure accommodation for the low earning staff.
- Security business
Security is a top priority world over and Nigeria is not an exception. This is especially true of Abuja. The nation capital. The reason for this is not farfetched as we have the high and the mighty residing in this city. So going into security devices installation is a wealth creation business. You can establish a security firm if you have the fund. Apart from that, you can also go into the installation of CCTV cameras and other security apparatus that can guarantee the lives and property of people.
- Car hire services.
Another business you can do this year is car hire services especially if you reside in Abuja. This becomes more lucrative if you ply route between major transport stations and the city center. This may be the airport, train stations, and major parks. Some business people and visitors to the city will opt to go for a private car or cab to take them around for the pleasure of business.
- Car tracking business
Car theft is a serious issue in major cities in Nigeria including Abuja. A successful business means meeting needs. Since we have a lot of expensive cars in Abuja, most owners will want to secure their cars. Going into a car tracking opportunity is a sure way of making your money this year. You can make more money if you can get a contract from corporate bodies.
- Dry cleaning work
Dry cleaning is a lucrative work that needs small startup capital. Since most people in the metropolis can’t wash their carpet, rugs, and upholstery by themselves, a dry cleaner comes to their rescue. Most people will prepare to contract their dry cleaning needs out to hiring permanent staff. This was due to cost and security.
- Spa and beauty salon
One business that will not go out of circulation for a long time from now is beauty management. Today, you see people inviting beauticians to their homes, especially during occasions. As expected, home service will be way better than when they visit your salon.
The health benefit of the spa is one reason people in a place like Abuja will gladly pay for it. So going into such business is going into a gold mine.
Illegal businesses To Abstain From in Nigeria
Some may claim they are business owners when what they are doing is illegal. I will list out a few of such businesses.
- Oil bunkering
- Money counterfeiting.
- Drug peddling.
- Car snatching.
- Hired assassin.
- Kidnapping and hostage-taking
- Human trafficking.
- Armed robbery.
- Document racketeering.
- Money laundering, etc.
Once you make up your mind, any of the listed options are some of the lucrative businesses you can do in Nigeria in 2020.
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