10 IDEAS ON HOW TO MAKE MONEY IN NIGERIA FAST
You must learn how to make money in Nigeria. You can’t just leave it to chance or to faith that wouldn’t work. You must find something useful to do and give it your best. This article enlist 10 ideas you can act on now to begin to make money in Nigeria.
I need not tell you about the benefits of money in Nigeria. It helps boost your self confidence and gives you a different kind of feeling. Everyone wants a life that everything is possible, the luxury and fast life but you can’t always sit by at home and wait for the financial opportunity to knock, sometimes you may need to make a move. This is why we have written this article to help point you in very lucrative directions.
If you haven’t been making cash and you’re a Nigerian don’t blame witches and wizards for this. If you are Nigerian and you’ve been thinking of how to make money, below are 10 tips that would be very helpful.
1.Look for problems that technology can solve
Our country Nigeria is not a very developed society so there are many several challenges and problems that can be solved with the creative use of technology. In the recent past decade, technology has provided the opportunity for very young people to become quite wealthy even become billionaires. This trend is not over yet. Localize it look around you there may just be something new technologies can solve.
You don’t even need a computer background always the important thing is the willingness to learn and act on that knowledge.
2. Eateries and Restaurant business
I recently invested in this sector and I can tell you I am very happy I did. If you can operate a food and drinks center in Nigeria, then it can quickly become a money maker for you. This is because Nigerians will always eat, even when the economy is bad.
A restaurant is a good business that is always profitable as long as it is located in a populated area. Although I must quickly mention it requires a lot of hard-work and patience to succeed. In cities like Lagos for example, there are many restaurants already yet more food places keep coming up and becoming successful. The trend is going more and more towards home delivery which is as I mentioned before localizing the business. This is key in Nigeria now and a trend which if you can catch it at the beginning of any business you could easily earn a fortune.
3. Wedding planning business
This basically involves planning for people’s wedding while they themselves would just show up on their D-day. Wedding planners are basically meant to take the work load of planning a wedding off the shoulders of the intending couple and as a wedding planner, you need to have an office or at least have your phone number and contact publicly listed so that people can contact you. You may also be required to hire a hall, do the setup and provident food caterers.
4. Own a house and Rent it
There are not many Nigerians who don’t own their own houses. This is an opportunity. You may find a way to build a house and rent it. Nigerian houses and landed properties are ever appreciating. The trend up is still on and you can cash into it now.
You may tap into this by becoming a real estate agent first. This way you start by helping others get places to live. It wouldn’t take long before the opportunity to get your own property comes along.
5. Start a mini-importation business
There are a lot of free e-books on how to import cheap goods from countries like china, Vietnam, Australia and so on and sell them in the Nigerian market. It’s good to select products that are a result of market survey so ROI can be very high.
6. Start a lounge or relaxation center
Owning a relaxation center in highbrow cities like Lagos and Abuja can really be a good income generator as people, especially working class peeps in these cities look out for lounges to relax either after the day’s work or during the weekend. It brings more income if it’s doubled as a viewing center.
This may sound far fetched to some people but you can easily tap into it through the power of partnership. I hardly ever do any business alone and this a huge part of my business success.
7. Start a travel/tourism agency
Everyone travels every day. Starting a travel/tourism agency would definitely bring some income to an entrepreneur who can take time to vast him or herself in the travel business sector. It’s very important to create a website, rent an office and hire at least two travel agents.
8. Start a bookmaking business
Ignore what anyone might want try to tell you about the moral justification of bookmakers. Bookmaking and sports trading business is one of the most lucrative businesses in Nigeria. It is also one of the businesses that require the highest capital to set up. If you have the cash, you should look into sports bookmaking.
9. Start a School
This is one sure way to make money in Nigeria. You don’t need to have millions of naira to start a school but you need to meet the basic requirements of the educational regulatory board. A school is one of the businesses you can start small and look to expand over the years.
10. Start a transport business
This currently is the next area I am looking forward to invest in. It is highly profitable although could be capital intensive at the beginning.
If you know how transportation business works in Nigeria, starting a transportation business in Nigeria is a sure way to make money if you have enough cash to start up. Also you need to reach an agreement drivers and terminal managers. Transport business is really lucrative in Nigeria.
Did I miss something? Kindly add your comment on any idea you think could help someone and don’t forget to share