Untapped Business Areas In Nigeria You Need To Know About:
There are many great, profitable but untapped business opportunities in Nigeria waiting for you to explore. There is no one alive who doesn’t want to become a millionaire or billionaire. The reason why some end up achieving their dream while others fail at theirs is the ability and inability to identify and seize opportunities.
In Nigeria, there are lots of people confused about the profitable business idea to start for maximum profit. We will try to unravel some of the untapped business opportunities that you can invest your money into. It is one thing to identify these untapped business opportunities waiting to be tapped, and an entirely different thing to do your due diligence on them.
You must be ready to carry out your own detailed research on these untapped business opportunities listed here. It will be business suicide for you to jump into starting a business simply because you read about it here. So, be ready to carry out a full study for a better understanding of the business before you invest your money into it.
Some Untapped Business Opportunities You Can Start In Nigeria
- Waste and sanitation management business
It will interest you to know that about 11 billion tons of waste are collected across the world annually. This waste generates a mouth-watering revenue of approximately $410 billion. In Nigeria, you can become make huge amounts of money simply by recycling waste products collected from people’s houses. Virtually everyone wants to have a clean environment but no one wants to be the person that will clean the dirt.
You can seize the opportunity to start making your money while others shy away from this highly profitable but untapped business opportunity. Waste and sanitation management business are arguably one of the leading untapped business opportunities in Nigeria. Many products can be generated from recycled waste materials and they include plastics, wine cork panels, roofing sheets, foot wares, etc.
You may not have all the money to buy a recycling plant at the moment. Why not gather the wastes and sell them to organizations that have a recycling plant. You should not mind the dirt that will stain you, keep your head low and make your money without any form of shame.
- Food container or truck business
The food container business is one of the leading untapped business opportunities that you can start and make a profit. Many people are busy, so busy to take the time out to cook their own food or patronize a restaurant. By starting your food container business, you will be able to a major problem for certain people as you take the food to them.
The trick is in having the food that most people like and would love to eat. You should also stay in a place that has a high amount of human traffic. To make this business unique and quite different from the traditional restaurant, you can start by providing light breakfast like tea, coffee, and snacks. Make it in such a way that workers can grab it on their way to work.
During the afternoon period, you can prepare normal meal like rice, yam, soup, etc. By having a container, you will greatly reduce the amour of money for your rent.
- Organic farming in Nigeria
Nigeria still lags behind in the agricultural industry even with our fertile and availability of arable land. In Nigeria, organic farming is still very young and quite unpopular. There are very few people who know about this particular farming process. All over the world, there has been an increasing demand for organic food products. The best part of starting an organic farming business in Nigeria is that the government is supporting the venture.
It means you can get grants easily from the government to start your organic farming business. Untapped business opportunities in Nigeria will not be complete without this organic farming business. I wrote an article on how to start organic farming in Nigeria; you should go through it for more insights.
- Alternative energy for homes and businesses
The average power supply by the Nigerian Electricity Generating companies is nothing near the required amount for the Nigerian population. If you are searching for untapped business opportunities, alternative energy is a good place to start.
Nigeria has over 200 million populations, if you can provide alternative and affordable energy to even a fraction of the population, you will be swimming in money. The alternative energy supply might be solar, biofuel, wind, biomass, and many more. If you have the financial capacity to execute this business, then you should because it will always get better and more profitable.
Although this alternative energy is far more capital intensive than all other businesses mentioned here, the prospect is without equal.
There are lots of untapped business opportunities that you can venture into outside the four listed above in this article. It is very important that you carry out the necessary findings on any business before you venture into, irrespective of the prospects that it seems to have. You must ensure your decision is based on quality research findings and not just a statement from your friend or family members.