5 New Business Ideas in Nigeria Right Now

Nigerians are becoming more business inclined than ever. Some decades ago, only a small fraction of Nigerians were involved in business. Even the few that were involved in business weren’t doing innovative businesses. Everyone was just copying each other.

It was such an embarrassing period for as Nigerians; a period when we imported almost everything even things as little as detergents. Imagine have to import soaps and detergents that are so easy and cheap to manufacture.

But thankfully, things are improving now. Nigerians are becoming more enlightened and more involved in innovation and new lucrative business ideas are surfacing daily.

Some of the most lucrative businesses in Nigeria right now include-:


You’ve probably heard of websites like Konga, Jumia and several other online stores. These are e-commerce websites. They simply make money be selling stuffs to people online. Gone are the days when people enjoyed driving or walking around the city all in the name of shopping.

These days, people are just too busy for that. They simply want an easy shopping system, a system that allows them to look through various categories of preferred items online, make a choice and then have it delivered to their homes or offices without moving an inch. E-commerce is the new money spinner in Nigeria right now.

Herbal beer and drinks making

Well, you’ve probably heard of brands like Alomo bitters, Orijin, Oshomo, Kerewa and the likes. Those things sell like crazy in Nigeria right now.

You can start your own herbal beer and making business too. You don’t necessarily have to start it on a large scale; you could start on a very small scale, register with NAFDAC, get a good formula for your brew and start marketing your brand.

But if you have to start on a large scale, you could look for investors who would be interested in partnering with you.

Escrow payment services

Like I already mentioned above, Nigerians are seriously embracing the idea of shopping online. However, there still lies a problem which needs to be solved.

Many online retailers have abused the system in the past; some of them take payments for goods and refuse to deliver them to the buyers. This is why the need for an escrow payment system became paramount.

An escrow payment services provider acts as a middleman between the buyer and seller and helps to protect both of their Interests. Money paid for items online are kept in the care of the escrow services provider and the money isn’t released to the seller until the buyer has confirmed receipt of the items. This way, both buyers and sellers are duly protected.

Internet services provider

A large percentage of Nigerians own smartphones, laptops and all other devices that need to be connected to the internet. This makes provision of internet services a very lucrative business.

Although there are some companies already providing these services, there is still room for more investors to join in.

Clothing line

Nigerians are still importing clothes from other countries and if you ask me, I’ll say that’s quite shameful. All it takes to produce clothes that would match international standard are the right set of equipment and expertise.

If you can put this together, you’ll really make a lot of money from manufacturing clothes to be sold in the Nigerian market.
(Source: https://www.htxcompany.com/).

1 thought on “5 New Business Ideas in Nigeria Right Now”

Leave a Comment

error: Content is Read-Only!!