a lot of businesses ideas and business opportunities abound worldwide, especially in Africa, especially Nigeria.
When starting a business, it is important to look for business ideas that have the possibilities to make your startup successful; you would do well to seek business ideas in industries with high growth potentials and profitability. One that your team and strength as a startup can effectively execute.
Are you looking for new ways of earning money? Check out a list of 100 business ideas, especially in Nigeria. While this list was created with Nigeria in focus, the business ideas are in no way limited to Nigeria.
It is a list of Untapped Business Ideas and small scale business ideas in Nigeria to start with 5k 10k 20k 30k 40k in Nigeria. Overall, please note that it is no child’s play starting a business in Nigeria.
Your first step to starting a business is to register your business, in Nigeria, you would need to register with the CAC. Kindly take your time to at least learn how to register a business name in nigeria; lets jointly make corporate governance a business culture in Nigeria.
Here is Our List of Highly Lucrative Business Ideas for Startups
Contents
FARMING BUSINESS IDEAS IN NIGERIA
Poultry Farming BUSINESS IDEAS IN NIGERIA
Poultry farming is a very profitable business, and that’s why it is speedily climbing up the fastest growing businesses in Nigeria ladder.
Unlike what many people think, poultry farming isn’t only about breeding chickens or egg production. There are four significant activities and possibilities with Poultry farming:
- Layer breeding
- Broiler breeding
- Poultry feeds production
- Poultry equipment production.
Poultry farming, as a business is broader than people think. And that’s the reason it’s essential to understand whichever branch you decide to venture.
Know that every branch is profitable, depending on how you run and manage the business.
Why’s Poultry Farming a Thriving Business?
Considering the profit poultry farming yields, it is only logical to understand why it’s thriving. The increase in the consumption of white meat which includes chicken, turkey, duck and other birds fall into is due to the health implications red meat has. All age groups consume white meat, unlike red meat. Apart from that, it’s affordable and readily available.
How to Start This Business Idea
The first step to take when starting this business is to take time to learn about the business. You might think breeding chicks and layers is all about feeding them, but that’s not the case. Have it in mind that one single mistake can lead to the death of thousands of chicks. There are tricks in every business you have to learn to succeed, know them.
After researching and learning about the different branches of poultry farming, you have to decide if you will be breeding chicks, breeding layers, or both. This decision is a result of the knowledge you’ve acquired from your trainer. Specialize in the area you’re good at.
Set up the poultry farm. This can be done in your house, rented land or acquired property. It depends on your budget. But wherever you choose, make sure it’s conducive for the chicks, layers and eggs.
Another factor to consider when setting up your poultry farm is your access to water, power supply, motorable roads.
Structuring the farm can be done in three ways:
- Fencing system: This is a poultry farming system where the birds freely roam around in a fenced area fending for themselves. This structure isn’t advisable for a business.
- Sawdust system: This is a poultry farming system that use sawdust as the main cage system. It allows the chickens to move freely. It’s imperative to change the sawdust regularly to prevent the spread of diseases.
- Caging system: The is the most common system when structuring a poultry farm. Birds are caged according to their sizes.
Buying of equipment depends on the structure of your poultry farm. We’ll look at the needed equipment and their prices in the starting cost outlay.
When buying the chicks, make sure you’re buying from trusted dealers. This is one of many perks of being trained by a professional. You will be able to different healthy, malnourished and unhealthy chicks.
Already prepared feeds are highly recommended when you’re just starting. As you progress with time, you’ll be able to produce the feeds yourself.
All things being equal, your turnover will depend on your marketing strategy. You are to build a network of retailers before your first harvest. Market to the retailers around your area and let them know when the products will be ready.
How to Keep A Poultry Farming Business Idea Successful
The business will be successful if you don’t make crucial decisions from a greedy point of view. Start with a few chicks and see your progress. You don’t test the depth of a river with both feet.
Employ helping hands if you are breeding more than 400 chicks. Poultry farming requires utmost attention, so don’t give the business less attention.
Aggressively market the business to friends, family, colleagues, neighbours, retailers, food vendors, grill vendors, etc.
Financial Capital Needed To Run Poultry Farming
You can start with the sum of 100,000 with a well-structured cage. You’ll increase the chicks as time progresses.
| Item | Cost |
|---|---|
| Business name registration | 5,000 |
| Banners/stickers | 15,000 |
| Social media promotions | 5,000 |
| Leased land | 100,000 |
| Feeders | 12,000 |
| Chicks (N200x40) | 80,000 |
| Waterers | 30,600 |
| Cages | 92,000 |
| Incubators | 48,420 |
| Nests | 50,000 |
| Coops | 50, 000 |
| Waste disposal | 25,000 |
| Brooders | 55,000 |
| Perches | 30,000 |
| Power generator | 100,000 |
| bags Feeds (10) | 30,000 |
Other Essential Tips
To breed healthy birds, you must employ the services of a vet. A vet will advise you on what to do to make the birds healthier.
Partner with eateries, beer parlours, cuisines and local kitchens to provide them with fresh eggs, turkeys, and chickens.
Cassava Farming Business Ideas in Nigeria
Cassava is the source for most of the food Nigerians eat. Fufu, Garri, Abacha, Amala, Cassava flour, etc. are the products of cassava. And this has made cassava farming a fast growing business in Nigeria. Aside from the products being locally consumed, it also serve as foreign export since Nigeria produce cassava in high quantity. Statistics have it that 24 out of 36 states in Nigeria grow cassava.
Cassava production might sound like a huge task, but it’s one of the easiest things to plant. The quantity you’re planting is where the work lies.
Suggested Read: How To Plant Watermelon
Selecting The Best Location For Your Cassava Farm
Before choosing a location, it should be perfect for cassava farming. Go for fertile land that is well-drained. You won’t be able to tell the real nature of the soil, and this is why you should take the soil for testing to find out if it will favour cassava farming.
Check for the following:
- Adequate rainfall, sunshine or access to water
- Landscape topography
- Proneness to pest invasion
- Proneness to soil erosion
Choose Cassava Stems for Planting
Understand that planting cassava for private use is different from commercial planting. When planting for private use, you may not be so particular about the stems you’re planting, but this doesn’t apply to planting cassava for business. In planting cassava for commercial use, you have to consider the stems to know if they are high yield stems.
Different cassava stems don’t grow well on the same soil. After testing your soil you should have better knowledge of the kind of cassava stems the soil can accommodate.
Check the stems for the following:
- The quality of the root they produce.
- If the stems are healthy and fast-growing.
- Whether the stems have a strong resistance to pests.
Rapid and rich growing stems for commercial cassava planting
- NR 8082
- NR 8083
- TMS (2) 1425
- TMS 30572
- TMS 81/00110
Prepare the Soil
Well-prepared soil aid the growth of healthy of the cassava.
How do you achieve this?
- Adequate use of manure and fertilizer.
- Prepare the soil for irrigation because you can’t be too sure about rainfall.
- Prepare the ridges to prevent rain from washing away the soil.
Prepare For Cultivation
You’re to prepare for cultivation from the very first day you planted the stems. It is highly recommended that you take good records of your activities to help you know the next step to take.
Before preparing the land, you’re to apply herbicide on the soil. Liming is also another thing to do during land preparation. You’re to apply agricultural lime of 5 (50kg) bags on the stems and land.
Plant the Stems
The Nigerian time for cassava planting is April. It takes 6-7 months to harvest early-maturing cassava, while it takes 12 months after planting the stems to harvest late-maturing cassava. It is advisable to apply fertilizer to the soil 8 weeks after planting the stems.
Weed the soil regularly to make sure the stems aren’t chocked by weed.
Harvest the Cassava
The best way to know that the cassava is ready for harvest is when the leaves turn yellow and fall to the ground, and when the root (cassava) is mature. To harvest faster, cut off the stems and preserve them for another planting season.
You can carefully use hoes to dig out the cassava root from the soil.
Marketing Cassava Products
You can either sell the cassava in its raw form or process and sell it yourself. Whatever you decide to do, make sure you have built a network of buyers for your product. There’s a big market for cassava products in Nigeria, so it won’t be that difficult to sell.
How to Keep The Cassava Farming Business Idea Successful
Your success is dependent on many factors, but you must have adequate knowledge of the business. Cassava makes our list of the leading fastest growing businesses in Nigeria because of many factors, one of which is her success rate amongst Nigerian farmers. Little wonder we are a leading producer of the tuber in the world.
Take time to learn the business by visiting cassava plantations and ask the farmers in charge questions.
Learn about the market for your product and how to sell them.
When you’re applying any chemical on the land or cassava stems, do it rightly. Wrong measurements can cost you a lot.
Have a senior in the business you consult in case anything goes wrong.
Financial Capital Needed To Start Cassava Farming
Cassava farming is capital intensive. You have to own or lease a plot of land to do this business.
| Item | Cost |
|---|---|
| Rented land (1 hectare) | 250,000 |
| Land preparation | 50,000 |
| Cassava Stems (60 bundles) | 10,000 |
| Cassava cutting | 5,000 |
| Planting cost | 12,000 |
| Fertilizer (10 bags) | 50,000 |
| Fertilizer application | 7,000 |
| Herbicide application | 12,000 |
| Weeding | 15,000 |
| Insecticide | 5,000 |
| Harvesting | 20,000 |
Suggested Read: Sources Of Funding For Small Business Owners in Nigeria
Other Essential Tips
As a farmer, you’ll be needing all the patience and consistency you can get to make something out of this business. Learn how to store and preserve the products and get ready buyers before harvest.
Conclusion:
These businesses are not on this list of the leading fastest growing businesses in Nigeria by accident; they are easy to venture into, highly profitable and with minimal risk.
Do you know any other business that is worthy of this list? Please give your suggestion using the comment section and I will write on them.
Nice list, so many options to choose from.
Thanks, Newton, we will keep working on it to make it as extensive as possible.
I really do love this piece. Truly detailed. Your comprehensive list of “small business ideas in Nigeria” speaks a lot especially, it reflect a need to be hard working like u.
Some ideas for startups are developing a new app, selling a product, renting out rooms in your home for short-term housing, driving for Uber on the side, packaging your expertise into ebook and course for sale, or selling products online.
What’s Happening i’m new to this, I stumbled upon this I’ve discovered It positively useful and it has helped
me out loads. I’m hoping to give a contribution & assist other users like its helped
me. Great job.
I like what you guys tend to be up too. Such clever work and coverage!
Keep up the terrific works guys I’ve included you guys to
blogroll.
I’m extremely impressed with your writing skills as well as with the layout on your weblog.
Is this a paid theme or did you customize it yourself?
Anyway keep up the nice quality writing, it’s rare to see
a great blog like this one nowadays.
Thanks for sharing your thoughts. I truly appreciate your efforts and I am waiting for your further post thank you once again.
I’m extremely impressed with your writing skills and also with the layout on your
blog. Is this a paid theme or did you customize it yourself?
Either way keep up the nice quality writing, it’s rare to see a nice blog like
this one today.
Have you ever thought about including a little
bit more than just your articles? I mean, what you say is valuable
and all. But think of if you added some great visuals or videos to give
your posts more, “pop”! Your content is excellent but with
pics and video clips, this blog could definitely be one of the best in its field.
Amazing blog!
Wonderful site you have here but I was wondering if you knew of any user discussion forums
that cover the same topics discussed here? I’d really love to be a part of community where I can get feed-back from other knowledgeable people that share the same interest.
If you have any suggestions, please let me know. Thanks a lot!
It’s an amazing piece of writing in support of all the web people; they
will obtain benefit from it I am sure.
Its like you read my mind! You seem to know a lot approximately this,
like you wrote the e-book in it or something. I believe that you just could do with a
few percent to pressure the message house a bit, however other than that, that is fantastic
blog. A fantastic read. I’ll definitely be back.
I simply couldn’t leave your website before suggesting
that I actually loved the standard info a person supply to your visitors?
Is gonna be back often in order to check out new posts
Thanks for another informative blog. Where else may just I am getting
that kind of information written in such an ideal approach?
I have a mission that I am just now operating on, and I have been on the
look out for such information.
Hi would you mind stating which blog platform you’re working
with? I’m going to start my own blog soon but I’m having a difficult time deciding between BlogEngine/Wordpress/B2evolution and Drupal.
The reason I ask is because your layout seems different then most blogs and I’m looking for something completely unique.
P.S Sorry for getting off-topic but I had to ask!
Viking is a brand of top-of-the-line appliances that live up to their reputation in the Viking Refrigerator Repair Chicago, who focus on providing quality service and support for Viking appliances.
Our goal is to provide you with the best possible refrigerator repair and maintenance service at the lowest possible price
Higher Positions is a premier SEO company in Maryland City, and a Google Partner and SEO-Certified, with over 10 years of search engine marketing experience.