Nigeria’s unemployment rate, according to trading economics, rose for the seventh straight month to 13.9% in the third quarter of 2016, while the current number of unemployed Nigerians is as high as 22.45 million.
These statistics are more alarming when you consider that reports from the National Bureau of Statistics indicate that, as a result of the economic recession, key fundamentals, including Gross Domestic Product (GDP); inflation, employment/ unemployment, capital importation, among others, are worse than expected.
Job loss for full-time employees has hit 710,693 even as more jobs are expected to be lost as the recession bite harder.
There has never been a better time to start a business than now. Only a personal business can guarantee a secure job right now as even oil workers and bankers are losing their jobs.
While a lot of people complain about not having enough capital, others complain of business ideas to embark on.
Researching into the start-up of many big businesses would reveal that many big brands today started small.
So, I believe the key is first having the right idea and then finding ways to turn the ideas into a reality.
Below are 40 business ideas that have been proven to be lucrative if properly developed. These 40 business ideas have been divided into sectors.
General Lucrative Business Ideas
1. Haulage business
2. Starting a rental service business
3. Okada and Keke Napep hired purchase
4. Event planning, cake baking and decorating business
5. Cement business
6. Ice block and frozen food business
7. Mortuary and ambulance service business
Best Profitable Small Scale Agriculture Business Ideas
8. Fish farming business
9. Broiler and layers farming
10. Snail farming business
11. Starting a pig farm
12. Dog breeding and sales
13. Opening a veterinary/pet shop
14. Livestock feed sales and milling business
15. Processing of maize, rice, palm oil, cassava, rubber, cotton etc
16. Cultivating vegetables
Internet-Based Business Ideas
18. Email and affiliate marketing
19. Forex trading
20. Blog setup and customization services
21. Web site and domain name flipping
22. Bulk SMS, SEO and article writing services
23. Freelance services/Reselling services on Fiverr
Successful Business Ideas In Education
24. Setting up a tutoring centre and private coach classes
25. Providing catering services to individuals/organizations
26. Day care and nanny services
27. Establishing self-empowerment centres for youth corpers and graduates
28. Starting a private school or a computer training institute
Computer And Technology-related Business
31. Sales and repair of PC and its accessories
30. Mobile phone sales, repairs and charging business
31. Development of mobile and web applications
32. Graphic design and printing business
33. SIM card replacement and mobile money agents
34. Recharge card reselling business
35. Android game development
Profitable Small Production Business
36. Custard production
37. Paint making
38. Making Ankara, accessories, beads and Wireworks
39. Body cream and liquid soap production business
40. Producing Izal, Dettol and other disinfectants
This list is by no means exhaustive because there are other lots of business ideas you can look into. However, I believe you may just find one of the ideas here to be what you need to attain job security and financial freedom.