Lucrative Businesses To Start With 5 Million Naira In Nigeria (2019 Guide)

lucrative businesses start 5 million naira nigeria

With N5,000,000 in cash, you can start not just a business alone, but also a mighty company. When you want to use this type of capital to run a business, you’re expected to think and plan at the highest level of your intelligence lest you fail eventually.

Though there are many businesses you can do with that capital, you need to consult with business managers, administrators, and experts to seek professional business advice. This will ensure that you won’t be doing the wrong business with that money. It will also guarantee that the money will be used judiciously.

By reading down the page, you’ll be learning some tips about what you can do with N5,000,000, in Nigeria to successfully launch a big business that will create a lot of job opportunities for so many youths.

I mentioned initially that you’ll be starting up a big company if you’ve been able to save up to N5,000,000 so far. In this article, I’ll be emphasizing on some businesses you can do successfully here in Nigeria.

What Business Can I Do with 5 Million Naira In Nigeria?

For anyone wishing to start a business with N5,000,000, the following business ideas may be given a consideration:

  1. Start a school of your own
  2. Start an agro-chemical industry
  3. Acquire real estate
  4. Become a motor dealer
  5. Establish a private broadcasting corporation
  6. Become a major distributor for a pharmaceutical company
  7. Look for investment opportunities

Start a School of Your Own In Nigeria

Do you have a university education degree or an NCE certificate? With this, you can run a nursery, primary, and secondary school anywhere in Nigeria. Starting a school entails being passionate about building lives and bringing the best out of the Nigerian child.

So, if you have this initiative in you, you’re a potential school owner and life builder. If you’re ready to invest N5,000,000 in a private school, then you must be operating an international school. You must be running a school equipped with so many facilities.

You’ll start by getting 4-6 acres of land in a nice location and build structures fit for an international college. To ensure this happens as expected, you’ll need the services of a professional architect to plan the design for you. Once that is done, the bricklayers, carpenters, welders, plumbers, and other artisans who will work at the site will have to be thoroughly inspected and supervised by a contractor.

Aside from building suitable structures for the school, you must report at the Ministry of Education for guidelines on school registration procedures and other necessary things having to do with starting a school.

Once the school is duly registered, you’ll have the legal right to start operation. Alongside registering the school with the Ministry, you will also have to register the school as a company. This will further give the school full legal rights to operate and no one will be able to disturb you.

Start an Agro-Chemical Industry In Nigeria

Being a capital-intensive business, it may require several millions for operation to start successfully. At first, an agro-chemical company operates with certain machines, giant processing and producing engines that will do the production of chemicals for farmers.

This is the industry that produces those chemicals used on farms to protect crops against rodents, weeds, and other harmful things that may jeopardize the growth of crops on the farmland.

Aside from getting the protective chemicals from an agro-chemical industry, chemicals used for reviving the soil are also produced. So, for you to run an agro-chemical company, the whole N5,000,000 may be exhausted on getting the most suitable business location, ordering and installing the several machines and processing engines that will be used for operations.

Buy Real Estate Properties In Nigeria

If you can invest the whole of N5,000,000 on acquiring real estate, you can become a millionaire in a matter of few months or years.

While acquiring landed property, acres of land, and other real estate property, try to involve a lawyer or legal practitioner. This will help to prevent unwanted frustrations in the long-run.

Become a Motor Dealer In Nigeria

The secret of becoming successful in any business is to get enough capital funds and this is equally needed for starting a motor dealer business in Nigeria.

To get 1-2 plots of land where you will construct a small office building, and a parking space whereby cars to be sold out will be parked and arranged, N5,000,000 should handle the job perfectly.

However, like in any other business in Nigeria, you must register as a company and own the certificate of incorporation for legal operation. Once you’re recognized as a registered company, more potential customers will frequently flood your office to place orders.

Establish a Private Broadcasting Corporation In Nigeria

Starting a broadcasting corporation in Nigeria requires a huge capital too as you’ll have to install powerful transmitting engines that cost several millions. With N5,000,000, you should be able to start somewhere.

Other necessary things should be done alongside including company’s registration with the Corporation Affairs Commission (CAC)).

When operation begins fully, you’ll start making money immediately. The profit potential is very high and series of commercial adverts are coordinated daily.

Become a Major Distributor for Pharmaceutical Companies In Nigeria

Since people are sick all over the places, helping companies distribute medical drugs would be a profitable business for you. Some of the companies you can work for include May & Baker, De-Shalom Pharmaceutical Company and many more.

Companies require that you pay a certain sum of money for the products you’ll be distributing before you can become a major distributor. No matter what the requirement might be, you’ll be able to meet up with the sum of N5,000,000 you’re planning to invest with.

Look for Investment Opportunities In Nigeria

There are a lot of investment opportunities in Nigeria and you can leverage any of them to invest with the money you have.

Gone were the days when people would only be left with no option other than putting a lot of money in a fixed deposit account. Nowadays, there are better investment opportunities that pay higher dividends than fixing money in the bank.

Aside from mining digital currencies, there are so many companies in Nigeria that are selling shares. Reading newspapers always will give you more insight into such opportunities.