Known as the ‘Seat of the Caliphate’, Sokoto State is one of the Northern states with a lot of business opportunities. The state shares borders with Zamfara and Kebbi. It shares an international border with the Niger Republic too.
Hundreds of Sokoto residents are into agriculture – farming and animal rearing. They cultivate crops like millet, tomatoes, kola nuts, groundnut, sorghum, maize, onions, potato, and so on.
Raw Food Merchant
One business you should look into is becoming a raw food merchant. The food business is usually lucrative, irrespective of where you are running the business from.
This is because humans have no other choice but to eat. Hence, if you are looking for something enterprising that you can launch in Sokoto State, you should look towards selling raw food.
As stated already, Sokoto state has good land that is very suitable for agriculture. Many of the people there are farmers that are producing crops that are being sold to even faraway states.
You then can start a business here that revolves around mechanized farming. Agriculture is a beautiful business.
Mobile Phones and Accessories Shop
Like several other states in Nigeria, there are many rural areas in Sokoto State. The fact is, certain business ideas, such as the Mobile phones and accessories business may not do well in rural areas.
However, running this business in major cities in Sokoto can be very lucrative.
You can import these mobile phones and accessories either from abroad or get them from States like Lagos.
Commercial Fishing Business
There are several people in the State doing reasonably well with their fishing business, but then, there is more to be realized from making it a large scale commercial enterprise.
Car Wash Business
Since this is oftentimes ignored by many investors, you can start it in a strategic location in the state. It is also recommended to locate the business in a major town like Sokoto City since there are usually many cars plying the roads.
Tricycle and Motor Bike Merchant
Many people in the state commute with tricycles and motorbikes. Many commercial drivers of these things are making good money each day, attracting more individuals into the space.
If you capital to invest, you will be amazed at the huge patronage you will get by becoming a tricycle and motorbike merchant.
Furniture Making Business
This is easy if you have the skills. But if you don’t, you can employ the services of individuals that have the skills. If you can run the business properly, you will discover that it is indeed a profitable one
Selling Fairly Used Products
Many average people in the state can’t comfortably afford to buy brand new products like clothes, shoes, etc. They will prefer buying secondhand of those products since they are usually cheaper. You shouldn’t have issues getting customers if you decide to run this business
Water Refill Station
A lot of places in Sokoto state have been experiencing a scarcity of potable drinking water. Hence, you can start this type of business. Water is life
Fast Food Business
It is advisable to start this type of business in a major town like Sokoto city. You can either choose to start a brand new one or even purchase a franchise.
Ensure you give attention to quality, and you will be able to attract customers with ease. Don’t just sell only native meals, but be versatile.
Several well-to-do people in Sokoto City are also very literate and they know how to use computers. You can get a store to sell stuff like laptops. It is advisable to deal with both brand new computers and fairly used ones. Some rich people have a high taste in stuff like this, and they won’t mind buying very expensive computers. However, some potential customers can only afford to buy secondhand computers. To ensure greater patronage, you should be flexible enough.
One of the benefits of this sort of business idea is that your audience can be from any part of the world. It’s easier if you have a flair for journalism and publishing.
But even if you don’t, you can assemble a team for the enterprise. Revenue is usually from ads. The larger your audience, the more revenue you should expect from ads.
Considering the location of your business, you should also try to publish in Hausa.
It is very necessary to emphasize that if you are opting for this, you have to ensure it is at a major city in the state, where there are tons of educated folks. Ensure you go for books always given great priority by the people, and they can always patronize your bookshop.
You have to open this in a major town that attracts high-profile politicians and business people. If your hotel is a befitting one, you shouldn’t have problems with patronizers
While there are different people already operating this in the state, the sky is always wide enough to accommodate more investors. It is however necessary to have good knowledge about the business before taking your steps.
There are usually different occasions that necessitate the patronage of the services of the printing press, particularly during the electioneering campaign
Another business you should ensure you establish in a major city if you want to increase your chances of getting successful. Even if you don’t have the skills (barbing skills), you can still employ those who can work for you.
There are a lot of livestock markets in different parts of Nigeria, particularly in the North including Sokoto State.
You can start a business that revolves around rearing animals like goats in Sokoto State and selling them to states in the Southern region.
Islam is the dominant religion in Sokoto, as such many parents will like their children to gain deeper knowledge in Arabic.
You can put up a good structure where they will get to see the need of giving their children a proper education in both Arabic and western education
Sokoto is home to Uthman Dan Fodio University and other different higher institutions in the state. Some of them don’t have adequate hostels for the students. Hence, you can build and run private hostels for the students.
You can also start a transportation business in the state. You should ensure your vehicles commute passengers from Sokoto to other states in the country.
While you may be considering investing in Sokoto State, let’s check two key factors that should guide your business decision.
Cost of living
The cost of living in Sokoto State is pretty affordable. In many parts of the state, you will get very cheap food and accommodation.
For instance, you will spend less renting an office space in Sokoto, but there is a huge challenge.
Ease of Doing Business in Sokoto State
While the current low cost of land and cost of living may be motivating factors, the state of security in Sokoto is not encouraging.
At the time of compiling this report, terrorists which some people prefer to mildly call bandits have carved an area for themselves. They kidnap, impose taxes on local farmers, most of the farmers can’t access their farmlands.
Some of the farmers who “adamantly” accessed their farmlands without paying the terrorists to get killed and taken away. If you are ready to invest heavily in security, there are lots of investment opportunities in the state. Let’s get started.
What business can I start with small capital in Sokoto State?
Recharge card printing business, leather material distributor, language interpreter for the foreign investor are some of the businesses you can start in Sokoto which requires a little capital.
How many companies are in Sokoto?
Due to poor data management, the number of firms in Sokoto isn’t known, though some online media claims that there are between 65 to 70 firms in the state, we can’t independently confirm this figure.
Is Sokoto State safe for investment?
Due to the activities of terrorists in Sokoto, you will have to invest heavily in securing yourself, your employees and company if you want to invest in the state.
What’s the biggest company in Sokoto State?
BUA cement is the largest indigenous company in Sokoto. It’s located at KM 10 Kalambaina Road.
What’s Sokoto known for?
Sokoto is traditionally known for leather crafts. However, other agricultural products in the state include kola nuts, onions, cotton, sorghum, millet, peanuts and animal hides.
The business ideas in Sokoto State are numerous, but we believe the ones listed above is a good place to start. Above all, it is necessary to conduct an appropriate feasibility study before you start a business anywhere.