The northern part of Nigeria has huge potentials for business growth due to factors such as large landmass for production and huge population. This article highlights top business opportunities in Nigeria.
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Business Opportunities in Northern Nigeria
Read on below:
Gold and Jewellery Merchant
Northern Nigeria, particularly Kano state which is one of the major commercial centres of the north and second-largest city in Nigeria is host to one of the biggest markets for gold and jewellery in West Africa. If you are interested in becoming a jewellery merchant, then Kano will be your best location.
In Kano, you can establish your gold and Arabic jewellery shop and then grow your network all around Nigeria and neighbouring cities such as Lagos state. Setting up a jewellery business in Kano has its benefits such as how sourcing for markets is made easier. In Kano, the jewellery market is available as people travel from far and wide to buy gold in Kano.
Footwear manufacturing business
If you are thinking of starting up a business in the north, you should check out making of footwear. The market for footwear might seems widely spread in the north. However, there still exists huge opportunities for investors in this sector. You can extend your market beyond a northern city and supply to other parts of the country. This is another viable and profitable business you can start in the north.
Ceramic Production Company
The production of ceramic requires huge capitals. However, it is one which promises huge returns on investments. Factors that determine success in ceramic production includes having good storage facilities, a skilled workforce, and your location being near your sources of raw materials. When going into this business, ensure you network well with construction companies since they are your major market.
Vegetable Oil Production Company
Groundnut is largely produced in the northern part of Nigeria. Groundnut is also the major raw material used in the production of vegetable oil. Therefore, if you are looking for a business to start in the north, you can consider starting your own vegetable oil production company. Setting up this business will be cost-effective since you are near the source of raw materials.
Plastic Manufacturing Company
This is a business that has been in existence for a long time in the north. It is a business worth investing in. Although one will be faced with much competition, with effective marketing strategies, one will thrive in the plastic manufacturing business. A great plastic manufacturing business that’s great to look into nowadays is G10. The insulating properties and strength of G10 lend itself to a variety of applications.
Fast Food Business
The north is where many food crops and fruits are grown. Thus, establishing a fast food business is a viable business. It is cost effective since you have raw materials at your disposal. If you are interested in the food industry, then you should consider establishing your own fast food business in northern city.
Education is a sector worth investing in the north. Are you skilled in a particular field?, you can make this into a business by helping others learn and develop those skills. This could include skilled jobs such as sewing, shoe making etc.
In the north, there is also a wide educational gap, you can try to bridge this gap by providing tutorial classes and preparations for examinations. If you are well trained in any particular subject, you can tutor those who have problems in this area. You can also provide these services to corporate organizations by teaching their staff professional skills.
Wholesale Pharmaceutical Business
If you are in the medical field, you can start a pharmaceutical store in the north. In the city capitals of the north, you can consider wholesale pharmaceutical business. You will have customers from all around the north patronize you.
Corporate Cleaning Business
In capitals of the northern state where there are headquarters of organizations and companies, these companies contract the cleaning of their offices to a third party company. You can set up a cleaning agency to cater to this need. It will take some investment but it is worth it. It is a profitable business to begin in the north especially if you know how to market.
Gum Production Company
Gum production is largely done in the north. For example, Kano state is the largest producer of gum Arabic which is the raw material used for making gum. Hence, this is a profitable business. Many industries make use of gum. The target market for this business includes production companies such as shoes and bag making companies etc.
As long as you can define your market and reach them, you will make much profit.
Cattle rearing in Nigeria
This is one of the most popular businesses in the north. It is a lucrative business, because you can make money from every part of cattle (that is: meat, milk, hide, cheese, hooves etc). In spite of the lucrative nature of cattle business, it is not so common in other parts in Nigeria except in the North.
Steps to Consider in Establishing Cattle Farm
- Get a Land where the cattle can graze
- Provide security by making a shed and fencing the land to avoid theft
- Construct a shed for the cattle to protect them from extreme weather
- Construct suitable source of water
- Employ herdsmen to take care of the cattle
- Get a veterinary doctor for medical checkup of the animals.
Beef and other products of a cow are very expensive in the market. You can imagine how much profits you will make with a farm.
The main crops grown in the north are millet, sorghum, cowpea, carrots and groundnut.
These crops grow in sandy soil and can be harvested at any desired size.
Sales of Building Materials
You can invest in the sales of building materials. This is a good business seeing how much houses are being built today.
Exportation of agricultural products
Nigeria is a country which is full of various good and quality food. From the north, you can grow crops and begin your exportation business. For example, groundnut the very common crop grown in the north is in high demand abroad. You can get involved in the exportation of these food crops and their derivatives.