Starting a business in Nigeria is not just about making a living, it’s about doing the right thing and striking gold. With the right idea and execution, your venture could transform your life, offering not just financial independence but also a sense of fulfillment and longevity. 

Some ventures offer a unique avenue for you to tap into and of course a great potential for Africa’s largest economy. Here’s a look at some business opportunities in 2024 that are ripe for the picking.

Mobile food vendors

Everyone eats, but not everyone has the time to cook. Mobile food vending is catching on as a convenient solution for busy Nigerians everywhere. If you can whip up delicious and affordable meals, you’re already ahead. With the gastronomic landscape as competitive as it is, your secret sauce might just be your actual sauce. Start-up costs? Surprisingly low, starting from just N50,000.

Online advertising firm

In today’s digital world, advertising is the bloodstream of business. As social media and online platforms explode, so does the opportunity to make a mark in the advertising space. With a starting capital of around N100,000, you could launch an agency that helps brands cut through the noise and reach their audience. Given the whopping $400 billion spent globally on online ads in 2018, the sky’s the limit here.

Exportation

Despite global uncertainties, the demand for Nigerian goods like cocoa, palm oil, and yams in international markets is booming. Starting an export business could see you capitalizing on these high-demand products. It’s a more complex venture, dealing with logistics and market demands, but the potential returns are substantial.

Cleaning services

Everyone appreciates a clean space, but not everyone has the time or desire to do it themselves. If you have a knack for making places shine, consider starting a cleaning service. Whether it’s offices, homes, or apartments, cleaning is a necessity that many are willing to pay handsomely for. Initial costs are mainly for staff and supplies, making this a relatively easy business to start.

Data selling

In our hyper-connected world, data is like water—everyone needs it but accessing it affordably is often a challenge. Starting as a data reseller involves buying bulk data from telecommunication companies at a discount and selling it at a profit. With minimal startup costs, this could be a highly profitable venture if you manage it well.