Providing security services, solar energy installations, Bureau De Change operation, SaaS, and coding are some of the untapped businesses in Nigeria that will fetch you a lot of money if you can strategize.
For instance, the plan of the government to fix the energy issue may take some years before businesses and Nigerians will begin to see an improvement. So, if you venture into solar energy-related services, you definitely going to have your phone line busy with calls from potential customers.
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Environmental Management Systems (EMS)
If the roles of EMS professionals sound strange to you, it isn’t in the USA, UK, Germany and other countries where they abide by the latest Environmental Management Systems (EMS) standards prescribed by the International Organisation for Standardisation (ISO).
If you want to look beyond opportunities in Nigeria, don’t underestimate the possibilities EMS will bring to the table by 2023 and beyond because this discipline is beneficial to businesses around the world.
Real Estate
There are several ways to invest in real estate. The claim by some people that investing in real estate is designed for millionaires isn’t correct. Although, the higher your investment, the larger the returns.
However, another smartest way to rake in returns from real estate is through fractional property ownership. This is when a group of investors pull their resources together under a registered investment management company in Nigeria.
When you own a property with a pool of investors, your money works for you while you concentrate on your business.
Here is how it works: A property at Lekki or Ikoyi costs NGN500million, you can join the pool of other investors to invest your NGN500,000 or less, depending on the contract, the rent from the property or a sell-off is shared among investors. You can get as much as 20 per cent interest on your investment and withdraw your principal on maturity if you wish.
Actionable steps: Look for an investment company with a track record in Nigeria to inquire more about this investment opportunity.
Logistics Services
In major cities like Lagos, Ibadan, Ilorin, among others logistics businesses experienced a surge after the outbreak of COVID-19. There was a need to make purchases when the lockdown was in force.
This business is still going to rock 2023 because of the restrictions being enforced by countries around the world because of the Omicron variant.
Business Services
There are hundreds of business courses you can take online to expand your horizon and turn it into income-generating services for millions of small business owners in Nigeria who desperately need them. This is a hot business idea.
For instance, SMEs that want to apply to credit facilities need a professional business plan writer. Tap into this business and smile to the banks every week.
Organic Farming
In the 90s, people, particularly in the local areas, fetch vegetables around their compound. But the use of a chemical spray on vegetation have ended that privilege. Today, fertilizer is applied to all agricultural produce. Thousands of people prefer organic farm products. If you’re conversant with organic gardening and understand the dynamics of growing organic foods, you will make a lot of money in 2023 and beyond.
In doing this, begin to warm up and equip yourself with online courses on the best seasons for planting certain crops and how to sow and grow them accordingly.
Security Services
One of the hottest businesses in Nigeria, as we cruise into 2023, is by providing security services. Every Nigeria is ready to protect themselves than to pay ransom to the cruel and wicked kidnappers lurking the highways across the country.
Even in the home state of the president, killings and kidnapping for ransom are daily occurrences.
According to the government, subsidies on fuel would stop by 2023 and indeed President Bola Tinubu announced its removal in its auguration speech on May 29, 2023; new forms of taxation may be implemented because the existing revenue isn’t enough to maintain the high cost of governance, which may push more people into poverty and the desperation for survival is most likely going to push more people into crimes.
If you’ve got the technological know-how to change the game, this business idea should be something you should explore.
Register your security firms, reach out to hailing and long distances transport companies, you will be surprised that travellers will be willing to pay more to secure their lives if you can effectively deliver and protect them.
Blogging
If anyone told you can make millions of dollars blogging within a month of setting up a blog, you’ve been lied to. Blogging for money requires hard work and dedication.
But if you already have a blog you’re not paying attention to, it’s time to reconsider it. Do auditing of your content, pick a niche and stick to it. Google likes niche-based blogs.
Content Marketing
Closely related to blogging is content marketing. A lot of online stores need content creators that will help them deliver SEO-rich content to reach millions of prospective buyers online. You can kick start your content marketing service on LinkedIn if you can’t bear the burden of running and managing a blog.
Social Media Advertising Course
One of the most profitable businesses in Nigeria that requires low capital is by offering social media advertising courses on platforms like Facebook, Instagram, Snapchat, and LinkedIn.
Hundreds of small business owners want to reach potential buyers on social media, but the major problem is that most of them are technically deficient in using advertising tools. You can create eBooks on how to explore social media for marketing, create premium downloadable videos etc.
Business Marketing
There are strategies involved in business to get new leads and retain the existing ones, business marketing professional knows how this works and how best to make it work for other businesses.
Solar Energy Installations
The cost of maintaining generators is high in almost every organisation in Nigeria because of the failure of the government to fix over 40 poor electricity supplies. As such, Nigerians are beginning to explore other possibilities, one of such alternative sources of power supply is solar energy.
In countries like the United States, United Kingdom, Canada among others where residential, commercial, industrial customers are huge, solar energy engineer, according to Alison, earns a minimum of $74,176 (in the USA) and £42,002 in the UK.
While it may not be popular right now in Nigeria, year 2023 and beyond will see more homes and organisation spend less when they opt for solar energy. This means a huge business for the solar energy engineer or power systems engineer.
Solar energy is also climate-friendly, making it the most preferred in countries that are climate obedience.
Stock Trading
If the last time you heard about an Initial Public Offer (share) was in the 90s, the recent efforts of the Nigerian Exchange Group (NGX Group) should inspire you that you can make a lot of money trading stocks online by using Primary Offer App designed by NGX.
For instance, MTN Nigeria on December 01, 2021, made public for Nigerians to buy their shares at NGN169 per unit, the value crumbed as a result of sell-offs by shareholders and by December 10, a unit of MTN share traded at NGN174.5.
When you sell at that price, the margin is yours.
Note: You can’t sell your share when allotment is yet to be announced and stock trading is technical. We urge you to understand the stock market before jumping in.
Website Maintenance
Interestingly, most of the business owners who have an online presence do not have the technical knowledge of managing their business website. If you know the dynamics of WordPress which is the most popular Content Management System (CMS), you should start putting your service in front of potential customers.
Political Strategy
It doesn’t matter if the 2023 general elections are here, political strategist has always been sought after by political gladiators who want to gain power by deploying all the necessary strategies needed.
Bureau De Change Services
If you are looking for a business to start with NGN500K in Nigeria, the Bureau De Change business is one of them. It’s buying dollars, pounds, and euros at cheaper prices and selling at higher prices to travellers who need them to meet travelling needs.
Although, the Central Bank of Nigeria stopped recognising the BDCs operators in the foreign exchange value chain on July 27, 2021, the new FX policy hasn’t stopped forex from making money selling dollars.
The new CBN policy has made the BDC business more lucrative since only banks are legitimately empowered to sell forex for PTA, BTA and other needs. Don’t that the Naira has even been floated, making the naira more competitive.
Caution: There are fraudsters and fake dollars out there, endeavour to understand the tricks in the business before venturing into it.
Massage Services
Massage service is one of the untapped businesses in Nigeria. Incredibly, it’s one of the coolest income-generating services that will rock the year 2023. If you already have an office, less than NGN1million would be manageable to kick start a massage service in Nigeria.
You can make twice the salary of a senior civil servant in Nigeria per month through massage service.
Caution: Avoid home service. If you must, take your security seriously
Setup SaaS
SaaS means Software As a Service. If you know how to conduct market research to come up with a software idea, then you should start planning on finding and working with a Joint Venture Partner around the world. You can also bring aboard like-minds developers by using freelance sites.
Investment Strategy
If you know about value investing, know what to invest in, steps in making an important decision, and know how to create an investment strategy during a bull market, this is a business idea you can sell to those who have the money but don’t know where their investment would bring the desirable return.
Coding
The outbreak of covid-19 in 2020 has taught millions of business owners around the world not just the need to have an online presence, they are also interested in having shopping apps for their products and services.
And the outbreak of the omicron variant in 2021 will reshape the way business is done moving forward, as such, if you are a coder, it’s time to warm up because this is another business idea where you build a mobile app for businesses and turn to a software consultant.
Export Services
In international trade, sellers or suppliers are statutorily mandated to abide by packaging standards. This is one of the challenges facing exports of agricultural products in Nigeria, despite the country’s resources in non-oil exports.
For instance, a lot of large scale agric farmers are not aware that it is mandatory to obtain Phytosanitary certificate from Nigeria Agricultural Quarantine Service (NAQS)
If you perfectly understand the export packaging rules and regulations, you can provide services for large scale farmers of sesame seeds, cashew and other products that are highly sought in the international marketplaces.