The Nigeria market is known as one of Africa’s booming hubs of business. The market seems to be saturated. Many individuals get scared of venturing into a business because they feel getting customers will be demanding. But, what if I tell you that there are untapped business ideas in Nigeria that are currently hot and booming in money.
So, here we will be looking at the top 8 untapped business opportunities in Nigeria that are really still hot and not saturated.
1. Agricultural Business
Agriculture remains one of the lucrative businesses in Nigeria that has different aspects that are non-saturated yet. Also, it is one business that is fully backed up by the Federal Government, in that you can quickly obtain a loan from the Agricultural bank if you are insufficient in terms of funds.
Some of the Untapped Businesses in the Agricultural Sector are:
- Snake farming
Due to the risky nature of snake farming, it is grossly an untapped business in Nigeria. But little do people know that it is a very lucrative business.
- Snail farming
Snail farming is an untapped business in Nigeria. In addition to the excellent profitability ratio of this business, you can quickly start it with N100,000. In snail farming, nothing is a waste, including their excrete.
- Cattle farming
It is no doubt that beef is a significant choice of meat in the country. Cattle farming is a grossly untapped business in Nigeria, especially in the southern and eastern parts of the country. In cattle farming, even their excrete brings in money. You can’t lose in this business.
- Palm oil business
Palm oil is an untapped business in Nigeria. Palm oil is highly treasured, and it is used for multiple things ranging from cooking to making cream and a lot more. Also, there are a lot of companies that come to Nigeria to buy; it is a significant export commodity.
2. Online Video business
The online video business is an untapped business in Nigeria and the world. Due to digitalization, the traditional video is moving to the online space, making YouTube and Tiktok a central digital oil hub.
This market is extensive and highly profitable. It can pay you both actively and passively. All you have to do is to create your niche, whether you want to do reality clips, comedy clips, motivational clips, educative clips, and so on. You can also make money from affiliate marketing, ads, sponsorship, and many more.
3. Blogging Business
News and educative blogs are gradually replacing newspapers and libraries for the public, especially the youth, creating an enormous opportunity for bloggers.
It is one untapped business in Nigeria, in which high-end bloggers make over 20 million Nairas monthly in this country. Apart from making money directly from your content or product, you can also run advertisements, ad networks, affiliate marketing, sponsored posts, and product sales on your blog and get paid heavily.
Additionally, Blogging isn’t expensive to start. With N4, 000, you can get a domain name for a self-hosted blog for a month or N27, 000 for hosting for a year. This is less than N50, 000 for a business that will generate millions for you.
4. Social Media Marketing
Due to the high transition of the workplace and marketplace to the online space, social media gradually replaces traditional advertising mediums. Hence the high demand for social media marketers.
Social media marketing is an untapped business in Nigeria with only a few people in it. Social media marketing entails you using social media to find leads for businesses. In other terms, it is all about you promoting, selling products, and interacting with leads via social media. You need a Smartphone, laptop (optional), and an excellent network to start this business.
5. Affiliate Marketing
Affiliate Marketing is one of the biggest and most profitable online businesses in Nigeria, in which there is no limit to the amount of money you can earn. Unfortunately, only a few Nigerians are into it, making it one of the untapped online businesses in Nigeria. The exciting thing about this business is that you can run it passively with your 9 am to 5 pm job.
6. Dry Cleaning business
Dry cleaning is a very lucrative business in the city and is non-saturated. Most busy workers in the town rely on the services of the dry cleaners for their laundry needs. Also, a lot of private firms employ the services of laundry workers. As far as you are good in this business and have excellent packaging, you will make a living out of it. You can also employ the service of social media marketers and affiliate marketing to promote your business more.
7. Dropshipping business
Dropshipping business is a booming online business that you can do in the comfort of your home.
All you have to do is open an online store, possibly on Woocommerce, Spotify, or Obiero, then copy inventory from manufacturers (Dropshippers) and put them in your online shop. If anyone orders, yet get it from the supplier directly to them. It is more like you are acting as a middleman.
There are many manufacturers you can work it, but if you want to make enough profit, I will suggest Alibaba. Alibaba is one of the cheapest manufacturing stores in china, where you can partner with. Also, to grow effectively in dropshipping, you need the knowledge of mini importation.
8. Food business
The food business is one business that can never get saturated in Nigeria. It is a significant untapped business in the urban areas, where you have most restaurants and fast-food outlets at the city’s heart, leaving the outskirts bare. So depending on your area, you can go for fast food, modern food or traditional food. You can also use logistics as the business grows to reach your customer all over the city.