In this post, I will list good business options that are not really hidden business opportunities in Nigeria but are highly neglected compared to their turn-up in terms of profit. The fact that most people are not really interested in these businesses makes them a good option since there are little or no competitors, so let’s check them out immediately without wasting much time including their benefits.
List of Hidden Business Opportunities in Nigeria
Waste recycling business
The waste recycling business is very advisable as Nigeria generates a vast amount of waste daily, presenting a significant opportunity for businesses that can effectively collect, process, and recycle this waste. This includes recycling of plastic, paper, metal, and organic waste.
Most people that champion this business in Nigeria are people from the north mostly known as “aboki condemned iron”, but the dividends that will be generated from this business will be very massive when handled as a large scale business. Coming to amount you can make from this business, I can’t give a specific range as it depends on your business scale and other factors but I can assure you of getting interest not less than 50%.
Benefits of starting a waste recycling business in Nigeria
- Potential for government contracts and partnerships: These days governments are increasingly recognizing the importance of waste recycling and are seeking partnerships with private sector companies to manage waste effectively. Waste recycling businesses can position themselves to secure government contracts and partnerships, providing a stable source of revenue and growth opportunities for you.
- Potential for international trade: Nigeria has the potential to become a major exporter of recycled materials to international markets. By establishing strong relationships with international buyers and adhering to international quality standards, your waste recycling businesses can expand their reach and generate revenue from global markets.
- Revenue generation from the sale of recycled materials: Recycled materials such as paper, plastic, metal, and glass have significant market value and you can sell at unimaginable prices to manufacturers and other industries like innoson as raw materials for new products. This direct revenue stream forms the primary financial gain for waste recycling businesses.
- Cost savings from waste disposal fees: Normally, Businesses and organizations often pay fees to have their waste collected and disposed of in landfills. You can offer to be disposing this waste, then pick the needed materials from them and sell them off to make money.
- Government incentives and subsidies: The Nigerian government offers various incentives and subsidies to promote waste recycling and encourage sustainable practices. These incentives can provide financial support to recycling businesses, reducing their operating costs and increasing their profitability.
- Market growth and expansion opportunities: The demand for recycled materials is growing globally, driven by increasing environmental awareness and the adoption of sustainable practices by businesses and consumers. This growing market presents opportunities for waste recycling businesses to expand their operations and increase their revenue, which you can benefit from.
Solar energy solutions
Nigeria’s abundant sunshine makes it an ideal location for solar energy solutions and since we don’t have steady power supply here, this is a plus for you if you want to venture into this hidden business opportunities in nigeria. So, you can make plans towards this direction as businesses that can provide solar-powered systems for homes, businesses, and industrial applications are likely to see significant growth as the country transitions to more sustainable energy sources.
Benefits of starting a solar business in Nigeria
- Financial gains from the sale of solar energy solutions Solar businesses generate revenue by selling solar panels, installation services, and maintenance packages to individuals, businesses, and institutions.
- Job creation and management opportunities Solar businesses create employment opportunities in sales, installation, maintenance, and customer service, contributing to the local economy.
- Positive brand image and reputation Operating a sustainable business that contributes to environmental protection and energy independence can enhance brand reputation and attract eco-conscious customers.
- Potential for expansion and market dominance The growing demand for solar energy in Nigeria presents opportunities for solar businesses to expand their operations, increase their market share, and become industry leaders.
- Contribution to sustainable development and environmental impact Solar businesses play a crucial role in reducing greenhouse gas emissions, promoting clean energy, and contributing to a sustainable future.
- Personal satisfaction and fulfillment Owning a solar business can provide a sense of purpose and fulfillment, knowing that you are contributing to a positive impact on the environment and society.
Organic farming and sustainable food production
Speaking from latest development in the country, I will say the demand for organic and sustainably produced food is increasing in Nigeria. Businesses that can provide organic farming solutions, connect farmers with organic markets, and promote sustainable food production practices can tap into this growing trend.
Many people have not venture into this business, it is actually one of the hidden business opportunities in nigeria since most people are after white collar jobs.
Benefits of venturing into Organic farming and sustainable food production
- Premium Prices for Organic Produce: Organic crops often command higher market prices due to their perceived superior quality and health benefits. This allows you as an organic farmer to earn higher profits for your produce.
- Reduced Reliance on Synthetic Inputs: Organic farming eliminates the need for expensive synthetic fertilizers and pesticides, leading to lower production costs. This cost savings can significantly boost your profit margins.
- Increased Resilience to Climate Change: Organic farming practices, such as crop rotation and cover cropping, enhance soil fertility and water retention, making farms more resilient to the impacts of climate change. This resilience ensures consistent yield and income for farmers.
I believe this 3 hidden business opportunities in nigeria can give you a good profit return when ventured into, though there are other opportunities but I believe these three are the best and promising opportunities that can yield mind blowing results.
Frequently asked questions about Hidden Business opportunities in nigeria
There is no specific answer to this as it depends on your location and scale of business, but businesses like freelancing, barbing or hair dressing, laundry, cleaning services and some others are very cheap to set up.
What are the daily income businesses in Nigeria?
There are several daily income businesses in Nigeria which some of them include phone repair, barbing, food vending, transport business, street hawking, delivery services and many others.
what business can I do with 30k in Nigeria
There are few business you can start with 30,000 naira in Nigeria, and some of them include recharge card sale, food vending, small-scale farming l, freelancing, cleaning services and other low budget businesses.