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3 Viable Business Opportunities in Lagos

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This June, Lagos became the largest megalopolis in Africa with a teeming population of about twenty two million people. Even as the development could raise more concerns for town and development planners, trade and commerce would continue to present enormous opportunities for the ever growing unemployed population resident in Lagos. The secret remains looking for the needs of people in your sphere of contact and meeting those needs.

Here are three businesses opportunities you could venture into with any capital.

Food and Beverages: With an estimated N4billion spent daily on the consumption of food, pitching your tent with any or all parts of the food value chain could spin a profit given the right business model and strategy. Whether it is importing, sourcing from the farm gate, hauling, wholesaling, packaging, retailing, catering or exporting, it is pertinent that you possess the acumen to grind out a profit. Think about starting a restaurant or a raw food stall in your locality.

Phone Sales and Repairs: Since the advent of mobile telephony in 2000, phones have been in increasing demand. In 2011, the Economist Magazine reported that Nigeria had about two million users of Blackberry smartphones. Phone sales in Nigeria continue to rise with phone retail giants like SLOT’s ever growing franchisor enlistment. SLOT also makes a good taking in servicing phones for Nokia and Blackberry. This opportunity is very lucrative and even dovetails into  an inner-city panacea for structural unemployment that pervades many parts of the Lagos metropolis. Local phone repairers rake in as much as N20,000 per day. Individuals can learn to repair phones in as little as three months.

Transportation: Twenty two million people commute from one point to another daily in Lagos. Known for boisterous commuter traffic on weekdays, the Lagos waterways offer a lucrative means for investors to carry people and goods from point to point without the hassle of traffic. However, several road transportation opportunities continue to attract tidy sums for taxi, bus and tricycle owners. With considerable amount of money, hire purchases can be arranged if you ask transport operators in your locality.

Unemployment remains a National problem forcing many into entrepreneurial pursuits across Lagos. Billions of Naira exchange hands in Lagos everyday and these three opportunities afford anyone an inroad into a piece of the cake.

All the best!

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Nehikhare Omotayo Igbinijesu is an Economist, Poet, and Social Entrepreneur. 'He is the author of The Code: A Simple Story About Raising Great Women' and 'Marriage: 12 Questions You Need To Ask Before You Say, “I Do”'. He lives in Lagos with his wife, Akudo and two sons. He is Co-founder of Stuffsilos.com, a motivational resources company based in Lagos. You can email him via nehijesu [at] yahoo.co.uk

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  1. Pingback: 3 Viable Business Opportunities in Lagos | ZILLAS NETWORK

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