50 Lucrative Trending Business Ideas To Start in Nigeria or Africa

Investopedia recognizes Nigeria as the home of Africa’s largest economy, ranked 25th globally. Due to its innovative businesses and entrepreneurial spirit, Nigeria is a driving force in establishing Africa as a prominent business hub, along with other countries like Egypt, South Africa, and Algeria.

This highlights that Nigeria provides a favorable environment for both foreign investors and local entrepreneurs to establish various businesses and see them thrive with the necessary conditions in place. Whether you’re a seasoned business professional or just starting out, the following 50 business ideas are currently in high demand and offer significant financial opportunities in Nigeria or other parts of Africa.

If you’re looking to take advantage of trending business opportunities in the events and parties business, here are 50 trending business ideas you can start in Nigeria, Africa and many places around the world.

1). Tutorial Centers for Education:

Due to the strong emphasis on formal learning and a desire to reduce illiteracy, the education sector continues to offer a variety of business opportunities. In addition to traditional schools, setting up a tutorial center can also be a great option. Tutorial centers cater to mainly secondary school students and examination candidates, and there is a growing demand for these services each year in Nigeria, Africa and many places around the world.

2). Online Tutoring:

For students who want more personalized and flexible learning options, online tutoring can be a great opportunity for educators and others who are interested. Online tutoring can be done through video platforms like Zoom and Skype, social media applications like WhatsApp and Telegram, or through web-based platforms.

3). Petrol Distribution:

Since the discovery of oil in Nigeria, petroleum-based businesses have been a major source of income. To this day, petrol distribution remains one of the most lucrative business opportunities in Nigeria. Although it requires a significant amount of capital, petrol distribution continues to be in high demand in Nigeria, Africa and many places around the world.

4). Cooking Gas Retail:

For those looking to enter the oil and gas industry in Nigeria or other African countries, starting a cooking gas plant can be a great option. With a high demand from households, restaurants, and local eateries, a cooking gas retail business can be a smart choice.

5). Poultry Farming:

Farming is a lucrative business that is always in demand, but it is important to choose the right type of farming as some are seasonal. Poultry farming, if managed properly, can be a year-round business. To get started, decide what type of poultry to raise and create a suitable environment. With a strong distribution network in place, poultry farming can be a highly profitable business, with clients including restaurants, hotels, caterers, and more in Nigeria, Africa and many places around the world.

See Also: How To Start A Profitable Poultry Farming Business In Nigeria

6). Real Estate:

For centuries, the real estate business has been a high-value option for both private and public investors. The success in this industry lies in the fact that property values appreciate over time, resulting in easy and substantial profits in Nigeria, Africa and many places around the world. However, the real estate business also involves risks, so it is important to work with legitimate partners.

7). Pure Water Production:

Commonly known as sachet water, pure water is widely popular in Nigeria and other parts of Africa. It is easy to access and is always consumed chilled, making pure water production a lucrative business with a large market.

See Also: How To Start A Lucrative Pure Water Business In Nigeria: The Complete Guide

8). Hotel Business:

Many towns and cities in Africa are filled with hotels, ranging from three-star to five-star luxury suites. People travel for business and personal reasons and need a safe and comfortable place to stay. Hotels have also become popular for events, get-togethers, proposals, and more in Nigeria, Africa and many places around the world.

9). Courier Services:

Although it may seem simple, courier services are among the most profitable and in-demand businesses in the modern world. It involves delivering items from one location to another, with the scope and reach of the business dependent on the resources of the investors. Starting a courier service does not require a large amount of capital, and one can start as a solo delivery person or build a company with trusted delivery personnel.

10). Digital Marketing:

Digital marketing refers to all forms of marketing conducted online, including email marketing, SEO marketing, and digital stores. With the ability to reach a wider client base, digital marketing offers a variety of opportunities for businesses of all sizes.

See Also: How To Start A Lucrative Digital Marketing Agency In Nigeria: The Complete Guide

11). POS Business:

When discussing thriving businesses in Nigeria and beyond, the POS business deserves a prominent place on the list. It has gained widespread popularity due to its ability to bridge the gap created by the decline of financial services offered by traditional financial institutions in Nigeria, Africa and many places around the world.

With POS centers conveniently located in various locations across the country, individuals spend less time waiting in line at banks and ATM machines. Basic transactions such as deposits, withdrawals, and transfers can now be performed more quickly and efficiently.

12). Dropshipping Business:

Dropshipping is a loosely defined form of digital marketing where the marketer does not physically stock the goods. Instead, they process the delivery of products to buyers after receiving orders from them.

13). Graphics Design Business:

The constantly increasing demand for graphic designs has led to the growth of the graphic design industry. Individuals, brands, entertainment companies, and corporations all require graphic designs for various purposes. Some may have in-house designers, while others outsource the services of trusted experts.

14). Events Planning Business:

Event planning is a highly profitable business, especially during holidays and other festive periods. African communities are social in nature, which leads to a high demand for event planning services. Specialized organization is necessary for academic and sports events to ensure smooth and successful outcomes.

With the right team, strategies, and network, an event planning company can grow into a significant business enterprise in Nigeria, Africa and many places around the world.

See Also: How To Start A Lucrative Event Planning Business In Nigeria: The Complete Guide

15). Interior Decorations:

Homeowners, office workers, and others opt to enhance their spaces for comfort and aesthetic appeal. This creates a demand for professional interior decorators. The same is true for events and programs, which require interior styling to set the mood and atmosphere. As a trained interior decorator, you can earn money from the numerous events in Nigeria and network with real estate agents and homeowners to decorate properties.

16). Web Management Business:

Web management is a thriving business in the digital era. The world has become a small digital space, and most activities are conducted online, either entirely or partially. To ensure that website users have a positive experience, web owners need the help of expert web managers to regularly check and maintain the website’s functionality.

17). Fashion Design Business:

Fashion design is a lucrative business that never goes out of style. Thanks to innovative ideas in the industry, there are always new design concepts. Additionally, the need for stylish clothing is constant, making the services of fashion designers always in demand in Nigeria, Africa and many places around the world.

See Also: How To Start A Fashion Business In Nigeria: The Complete Guide

18). Content Marketing:

Content marketing encompasses the sharing of knowledge in the digital space. Copywriters, strategists, and social media managers all create content for various purposes. Sharing this content for sale is a form of content marketing that is in high demand in Nigeria, Africa and many places around the world.

19). Skit Production Business:

Skit production is becoming popular in Nigeria and other parts of the world. With the availability of devices such as small cameras and laptops, along with video platforms like TikTok, it is easy to create short videos that are engaging and likely to go viral. Skit production offers opportunities for fame, social media influence, and other benefits.

20). Ushering Service:

Ushering is a crucial aspect of protocol during public events, and event organizers often use the services of ushers. This makes ushering a profitable business, especially in places like Nigeria where events are common.

An interested entrepreneur can start an agency to train individuals for ushering services and network with event managers to secure contracts.

21). Restaurant Services:

The restaurant industry is timeless, satisfying a basic human need. However, it is crucial to enhance the restaurant experience to provide maximum customer satisfaction.

See Also: How To Start A Profitable Restaurant Business In Nigeria Or Africa: The Step By Step Guide

22). Script Writing:

Script writing has been a staple in the movie production industry, but with the rise of the skit making industry, there is now a growing demand for scriptwriters. Targeting the right clients can lead to a lucrative scriptwriting career.

23). Car Dealership:

Cars are a symbol of class and taste worldwide, including in Nigeria and Africa. Starting a car dealership can be a profitable venture, provided the market is thoroughly understood and the right type of cars are offered .

24). Beverage Production:

Nigeria is abundant in natural resources, including cocoa, which can be processed into beverages. Producing beverages is a promising business opportunity for investors, with success dependent on factors such as branding, advertising, and distribution strategies.

25). Social Media Management:

Social media plays a crucial role in modern-day businesses and activities, including politics, entertainment, and more. As a result, individuals, businesses, public figures, and corporations require the assistance of social media managers to effectively use social media in Nigeria, Africa and many places around the world.

26). Videography:

Videography is a highly valuable skill in the digital age and is used by content creators such as YouTubers, skit makers, and advertisers.

27). Social Media Blogging:

Social media has created a new opportunity for bloggers to promote their craft and share engaging content with the public. Platforms such as Twitter, Facebook, Instagram, and YouTube allow bloggers to monetize their efforts.

28). Forex Trading:

Foreign exchange (forex) is a potentially profitable but high-risk sector. Individuals can mitigate risks by learning the trade and partnering with trusted associates.

29). Cryptocurrency Trading:

Crypto trading is a growing sector with great potential for profit, despite mixed reactions from the public and high risks involved. It is particularly popular among the educated in Nigeria, Africa and many places around the world.

30). Gym Instructor:

The desire for fitness has made gym instruction a thriving business, made even more accessible with the use of video platforms like Zoom. To attract a large client base and earn trust, it is important to establish a well-equipped gym in Nigeria, Africa and many places around the world.

31). Sports Viewing Center:

With a strong following of sports fans across the world, establishing a sports viewing center can be a profitable venture for entrepreneurs. To build a client base, it is important to choose a convenient and easily accessible location within the city in Nigeria, Africa and many places around the world.

32). Bread Production and Distribution Business:

Bread is a staple food in many countries, including Nigeria, where it is one of the most widely consumed snacks. With a market size of approximately $13 billion per year, opening a bread bakery in Nigeria, Africa and many places around the world can be a lucrative business opportunity. The key to success in this business is a strong distribution network, as bread has a short shelf life and swift marketing efforts are necessary.

33). Boutique Business:

Fashion is always in demand, and as the fashion industry continues to grow, so does the boutique business. To succeed in this business, it is important to choose a central location in the city and understand the market demand to stock items that are in high demand.

34). Games and Recreational Center:

Establishing a games and recreational center in a desirable location can be a profitable venture for entrepreneurs. This business caters to both children and adults, but may have a seasonal aspect as people have more time for recreation during holidays. With the right strategies, a games and recreational center can be successful in Nigeria, Africa and many places around the world.

35). Laptop Repair Business:

Laptops are an integral part of daily life, so people are always looking to keep them functioning at their best. This creates a demand for laptop technicians and repairers, who need to acquire specialized skills through training. Once these skills are obtained, choosing a suitable location for the business is the next step.

36). Hair Salon Business:

The hair salon business is an essential component of fashion that people take seriously. While it experiences increased demand during special seasons, it is a business that sees steady patronage throughout the year in Nigeria, Africa and many places around the world.

37). Makeup Business:

Similarly, the makeup business sees constant demand, as celebrities, TV personalities, actors and actresses, video vixens, producers, and magazines all require professional makeup services for their daily activities. As with other fashion businesses, becoming a successful makeup artist requires progressive training.

38). Photography Business:

Photography has rapidly evolved and has become a highly creative and respected business that can be used in many aspects of life. From preserving memories to supporting businesses and creating ads and marketing materials, photography is a valuable service in demand in Nigeria, Africa and many places around the world.

39). Uber Business:

The Uber business is gaining popularity in Nigeria and other African countries. Anyone with a driver’s license and a well-maintained car can join the Uber platform and provide safe and reliable transportation services.

40). Digital Advertising Business:

Ads play a crucial role in driving sales, attracting traffic, and generating leads for digital businesses. Brands and companies require the assistance of ad networks and experts to create and run effective ads, which highlights the importance of digital advertising. Entrepreneurs can learn the basics of digital marketing and establish a trusted ad network to support digital businesses, earning a lucrative income in the process.

41). Mobile Phone Retail:

A highly sought-after business opportunity in Nigeria is mobile phone retail. With an increasing number of people relying on mobile phones for both personal and professional use, the demand for phones and accessories remains high. Repair services for damaged phones are also in high demand, as people are willing to pay to keep their mobile devices in working condition.

42). Web Blogging:

The digital transformation of businesses in Nigeria and Africa has created opportunities for internet enthusiasts. With a growing number of people using the internet, starting a blog in a specific niche can be a lucrative career choice. Building a well-respected blog that influences societal issues is possible with the right approach.

See Also: How To Start A Blog — The Complete Beginner Guide

43). App Development:

Businesses in various sectors, from telecommunications to finance, are using mobile applications to reach their customers and gather feedback. As a result, app development and management has become a profitable business venture.

44). Network Marketing:

Network marketing is a digital marketing strategy that uses a pyramid structure of sales representatives. Marketers earn income not only from selling products but also from recruiting others to do so. This type of marketing is popular in Nigeria and Africa as it is referral-based and offers high profits with low risks.

45). YouTube Channel:

YouTube has become a popular platform for content creators, particularly among the younger generations in Africa. From music artists to comedians, to individual content creators and social commentators, YouTube offers a platform to showcase their talents and reach a wider audience.

46). Foodstuff Distribution:

Foodstuff distribution, both domestically and internationally, is a thriving business with substantial profits. With an abundance of farm produce in Africa, the industry provides job and business opportunities for farmers, distributors, exporters, and other related professionals in Nigeria, Africa and many places around the world.

47). Beer and Beverage Production:

Alcohol is a popular drink in many parts of Africa, with Nigeria being one of the largest consumers of alcohol on the continent. Beer and beverage production is therefore a common business in the region, although it requires a significant investment. Despite this, it offers substantial profits and provides employment for many people.

48). Livestock Farming:

The demand for livestock drives the livestock farming industry and provides opportunities for new investors. By identifying the livestock in high demand in their area, farmers and entrepreneurs can establish a profitable business in Nigeria, Africa and many places around the world.

49). Oil Palm Production:

Nigeria is one of the largest producers of oil palm in the world, producing over 1,280 metric tonnes per year. In the southern regions where oil palm is predominantly cultivated, thousands of people are employed in the farming and distribution of oil palm and its by-products. Cultivating oil palm can result in substantial profits if well managed, with opportunities for international markets.

50). Snacks and Small Chops Production:

Quick meals and small chops are becoming increasingly popular in Nigeria, especially at public events and parties. From chin chin to buns, meat pies, fish rolls, egg rolls, and more, snacks and small chops offer a business opportunity for those with the necessary skills. By partnering with event planners and socialites, entrepreneurs can secure contracts and build a successful business.

To Sum It Up

In Nigeria, there are numerous business opportunities with the potential to become successful ventures given the right approach. While some of these ideas may require substantial resources, there are also many options available for individuals with limited funds and the determination to start. Whether you’re looking to get started with a small investment, any of the 50 top business ideas discussed above would be a great place to begin in Nigeria, Africa and many places around the world.

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What are your thoughts on these 50+ lucrative trending business ideas you can start in Nigeria, Africa and many places around the world? Let me know by leaving a comment below.