So I did a little survey and asked a lot of people what they would do with N5 million. As expected, majority said they’d invest half the money, but when I asked what they would invest it in, they literally just zoned out.
So in case you have a couple million bucks you’re expecting and want to use it wisely, I’ve compiled a number of pretty lucrative investments that if you handle properly would yield you a couple more millions in Nigeria.
Pure water (satchet water)
Every Nigerian, born and yet to be born knows that we consume A LOT of pure water. If you plan well and hire professionals you can make this work, you can start small and expand. But please, ensure you employ best practices to decontaminate the water.
People take laundry business for granted, but it’s actually a good investment and it’s not so capital intensive. With a few employees, industrial washers, irons, and a lot of hangers, you should be good to go.
Look for a populated area and start up a car wash. You can also open a little bar beside it where people would chill while waiting for their car to be washed.
We all know how people like to be on the move and you can do a few things when it comes to transport:
a) Buy a bus, a car or even a keke and get a driver on hire purchase who would pay you either monthly or weekly.
b) Start a professional cab business, buy cars, hire drivers, give out your cards at airports, hotels and companies.
c) Start a haulage service. Manufactures and importers are constantly moving their goods, and we all know the nature of the roads, so you can charge N20-200k per trip.Ensure your trucks or vans are in good condition and your drivers are sane just so your customers’ goods will get to their destination safe.
Okirika business AKA second hand clothes
As crazy as you might think this one is, it actually pays well; depending on what you bought and how you sold it. Second hand clothes are actually cheap to buy and if you sell it right, you’ll have quite some gain.
Pitakwa people are in the business of looking good, we love to have the latest fashion and most times, we don’t care how much it costs. Start a fashion house and hire professional tailors. This should be done if you have a flair for fashion though, not everyone can make this work.
Hotels and hostels
Accommodations basically never really depreciate. For somewhere like Uniport, we love new hostels and Pitakwa people love new hotels. So if you want to invest in any of these, you have to put in humongous cash, because PH people love big and elaborate stuff.
Majority of the world spends all their time on the internet these days. If you can successfully grab their attention online by selling goods or services and make people advertise with you, you’d make awesome cash.
I really would have suggested soft drinks but let’s be honest, Pepsi and Coke will not let you be great. Investing in fruit juices is a safer bet and if you do it right you won’t regret it. Do you know how much juice Nigerians consume in a day?
Agriculture is the way forward. When all the oil and gas is gone, land wouldn’t and we will still want to eat. Some farming investments you can look into:
a) Rice farming: capital intensive yes, but, quite lucrative. Nigerians consume a lot of rice and that’s why we import a lot of it too. We don’t have a lot of rice factories of our own and we can finally stop importing Thailand rice if people started investing in Rice.
b) Snail farming: yes, snail farming is a good investment. A lot of people love to eat snails in their sauces. If you start this business, you can be sure of lots of clients, especially those who run restaurants.
c) Poultry farming: starting a poultry will give you massive gain. We consume a lot of chicken in a day, and you should see how much chicken fast foods and restaurants buy.
Most of these businesses will require professionalism, so if you’re going into any, study the business intently and hire professionals to help you out.
I am, @Lord__Nina
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