TRANSPORTATION SECTOR
1. Inland water way transport
Inland water way transport is one of the fastest growing business opportunities in Nigeria.
In fact, I believe the niche is still untapped because I am yet to see a modern commercial boat or ferry service system in Nigeria. Though there are a few operators in this industry; I am yet to see the modern facilities being used by the developed countries.
Another reason inland water way transport business proves viable is because population in states such as Lagos, Ogun and Rivers states is rapidly on the rise, resulting in the congestion of roads. Since the roads are becoming heavily congested, the next means of transportation the inhabitants of these heavily populated states will resort to is water transport. With proper planning, a good management team and adequate funding, you can break into this untapped industry and carve a niche for your business.
2. Haulage and logistics
Haulage and logistics is another fastest growing business opportunity in Nigeria. Though it’s considered a risky business, you can breakthrough if you have a strategic business management team on ground. Good management is the key to surviving in the business of haulage and logistics.
3. Outsourced bus service
This is similar to haulage and logistics but the cargo in this case is humans. I am not talking about the regular road transport bus service. In fact, I don’t think I have seen the idea for this business being utilised by anyone.
In this case, you are providing transportation services to firms and corporate entities. Some corporate organisations can’t afford an in-house transport system for its executives and staff, so this is where you come in. You provide the cars or buses, provide the drivers and you are paid on a monthly or contract basis for the use of your transport services.
Another area of target is schools. Most schools would like to provide transport facility for their students but they can’t afford it and this is where you come in. You provide a bus service system and send out a proposal to schools to use your bus services. Just imagine 20 or more young schools jointly using your student bus service system and you will catch the vision of this idea.
INFORMATION AND COMMUNICATION TECHNOLOGY
When it comes to ICT, I will say Nigeria is lagging behind when compared to the western world. It may sound like bad news to you but to entrepreneurs and investors, it is good news. ICT is still an emerging trend that hasn’t reached its peak, so a lot of opportunities exist for both local and foreign investors. I won’t go into the capital intensive business opportunities that exist in the ICT sector; rather, I will stick to small and medium scale business opportunities.
4. Cyber Café
The demand to stay connected to the rest of the world is rapidly on the increase and the cost of internet connection is still on the high side when compared to what is obtainable in the western world, thereby making cyber café an alternative for internet users; and an investment opportunity for entrepreneurs. This business can be started either on a small, medium or large scale but I will prefer a large scale because size can be a competitive edge for you in this business as customers won’t like to be kept waiting.
Customers of this industry want speed and efficient service and most importantly; they want to be sure to find a vacant computer system anytime they want to surf the web without having to wait in line. If you can get a good location; provide speedy internet access and provide complementary services; you are in for a breakthrough.
5. E-Services
Just as the world is going e-crazy; so also is Nigeria catching up with the trend. E-services provision is still a virgin business opportunity that hasn’t fully been tapped. Under the umbrella of providing e-services; you can find the following fast growing business opportunities: E-payment, bulk Sms services, web design and hosting, database management services, e-portal management, etc.
EDUCATION
The need for education is on the increase and the burden to provide quality education is getting heavier for the government to bear thereby, leaving room for private and institutional investors. The following are ways you can tap into the potential opportunity.
6. Schools
A lot of institutional and private investors have gone into building quality schools and providing quality education but the potential has not been reached. With a population of over 150 million Nigerians, where 65% are below 40; there’s still untapped potential in this niche.
You can access this business opportunity from different entry levels. You can tap into this niche by providing either crèche, primary, secondary or tertiary education but all entry levels holds strong potential. Please carry out your own analysis before investing in any level of this business opportunity.
7. Seminars
Not everyone loves being educated within four walls of school. Some prefer street smart education or high speed learning and that’s where you come in. You can set up a seminar company that organizes coaching services according to the current needs and trends of the society.
8. Training centers
Specialized training or educational centers is another fast growing yet untapped business opportunity in Nigeria. Examples of specialized learning centers are Leadership training schools, entrepreneurial centers, training centre for the gifted and physically challenged, training centre for hobbies and crafts, etc.
9. Tutorial centers
With the proliferation of academic and professional exams, tutorial centers have joined the list of fastest growing business opportunities in Nigeria. You can access this business opportunity by choosing or specializing on a training need. You can focus your proposed tutorial centre on any of the following: ICAN, GMAT, WAEC, JAMB, GSCE, CIS, job interview training, etc.
GREEN ENERGY AND TECHNOLOGY
With a global increase in the awareness of environmental degradation and its hazard, the world has resorted to finding an alternative “green energy.” Nigeria is not left out in this global awareness that has created massive opportunities for smart entrepreneurs and investors. If you feel green is the next business trend on board, then below are the fastest growing business opportunities in the green energy and technology sector of Nigeria.
10. Waste management
With an increased awareness in the need for environmental conservation; opportunity has popped up in Nigeria in the area of waste management. When analyzing the waste management business opportunity, I observed that two factors are responsible for the potential in the business and you must make sure these two factors are in place before deciding on an area of service.
One is a bursting population and the second is a strong environmental policy and its enforcement. So far, two states in Nigeria that has taken the lead with respect to these two factors and these states are Lagos and Imo state. But I believe great potential still lie in other states of Nigeria. Do your own personal research before venturing into this industry.
11. Waste recycling
The next fastest growing business, yet untapped business opportunity in Nigeria is waste recycling. I don’t need to expatiate on this as the details are clear. You can venture into either bottle and can recycling or nylon recycling. You can even embark on a waste to green (manure) project as Nigeria has a huge demand for organic and inorganic fertilizer.
12. Alternative power
The last but not the least of the fastest growing business opportunities in Nigeria is alternative power supply. In recent times; Nigeria has seen an explosive increase in the demand of power supply thus creating an avenue for smart entrepreneurs to capitalize on. Solar energy, Wind energy and bio energy are some of the alternative power supply system that are currently making waves in the country but the present alternative power supply service providers cannot meet up the demand thereby leaving room for other creative investors. With a good plan, adequate capital and a strong business team; you can break into this niche.
Source: The Nation
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