UNTAPPED BUSINESS IN NIGERIA
There are several untapped businesses in Nigeria. Usually, everybody is focusing on the latest and trending businesses. In a short time, it becomes overcrowded and most people make nothing out of it and watch out for the next trending business.
But there are some untapped business bringing in cool cash, and the good thing about them is that many people are not looking in those directions.
These are some really cool untapped business in Nigeria that you can get your hands on, and with due diligence, you can get them started, running and successful.
1. SOLAR POWER BUSINESS. There are a number of small businesses into solar power, but compared to the market, it’s insignificant. This is a really lucrative untapped business in Nigeria. We all know that power generation in Nigeria is close to non-existence. A large percentage of Nigeria have no access to little or no power supply. Solar power is currently the best, cheapest and cleanest alternative.
Most people are not sensitized about solar power and it’s comparative advantage to electric generators, which makes it a good market to break into.
Since the solar kits are relatively expensive, the cost of setting a solar business may be on the high side, which may not be suitable for those who have below minimal capital seeds.
However, you can still start a solar power business in Nigeria without owning a solar power shop. You can learn about solar set-up and installation, and become a middle man. Learn all you need to know about solar panels, batteries, charge controllers, setting up and installation.
Then start sensitizing, advertising and referring people, set up for them. In no time, you are going to own your own shop, and become known for solar business.
2. DIGITAL MARKETING: Digital marketing in Nigeria is still at its infancy. It’s an untapped business idea in Nigeria. Although there are a number of digital agencies in Nigeria, many still do not realize what Digital Marketing is all about.
Digital Marketing, if done, learned, and done right, can transform businesses and individuals. Having a good number of followers and being active on social media doesn’t make one a digital marketer.
Digital Marketing covers discovering hot niches, the right audience, the right products, setting up the right funnels, using the right platforms and the right sales copies. How to get leads for a product or market, how to sell, and upsell to them, how to retarget prospective customers till they purchase.
Setting up your own digital marketing agency is really a good business that most Nigerians are not looking into. It’s an untapped business in Nigeria, and you need to tap right into it.
Learn it, or get a partner that’s good at it, and set up your digital marketing agency.
3. VIDEO EDITING AND ANIMATION: Do you watch animations made by Asians or Americans? Do you know about DIsney? Do you watch videos made by them too? Have you seen Nigerians coming up with such quality and standard? There are very few 3D animations in Nigeria, and little to no “best quality” animations in the Nigerian market.
There competition in this market in Nigeria is almost non-existing. This is a truly untapped business in nigeria, and it’s time for more people to rush into it.
Video editing, GFX, animations are huge deals all over the world. The earlier you get into the game and established as an authority in Nigeria, the better.
You may not start a video editing or animation company, but there are few professionals in this field. You can be among the few professionals. That’s a good way to tap into the business.
4. UNIQUE ONLINE BUSINESS. There are several online businesses in Nigeria, and you may not be able to beat the competition, because they have enough money to dominate the market. But the online market in Nigeria has not reached its potential in any way imaginable.
The problem is that people focus on the existing successful and crowded ventures, and neglecting the unique and untapped businesses in Nigeria. You just have to think out of the box and create a unique online business in Nigeria.
5. MOBILE APPS AND SOFTWARES: Mobile apps and Softwares are very good sources of Income, that could generate thousands of dollars monthly. However, most popular apps on play store are not Nigerian built. There are countless apps and softwares flying around the internet, and most of them are not even African based;
This is an untapped business in Nigeria. There are many apps or software people need to help them solve their daily needs, specified towards Nigerians.
You can learn app development, and start building apps that many Nigerians are going to enjoy. There are apps built by Nigerians, but they are not enough, and many are not even up to standard. This is an untapped business opportunity for you.
6. FOOD PROCESSING, PRESERVATION AND VALUE ADDITION: Most of the foods we have are monotonous. We barely have a variety or at least, variants of a particular food item. This is a largely and shamefully untapped business in Nigeria.
It is not necessary to have a big plant and start processing tons of food daily. You can start by processing small units and grow big.
All you need to think if is value addition. What can you do to a popular food item to make it better than the usual?
How can you process Cassava, and make a better in terms of taste, quality, and nutrition?
How can you process Corn, or Yam, or Beans to make it better in terms of taste, quality and nutrition?
How can you preserve food so that they are still available in when they are out of season?
Since this deals with food, you have to be careful and go through the right and legal process before you start selling it.
We are tired of eating the same thing everyday. Can you do something about it?
7. AGRICULTURE: Agriculture is surprisingly an untapped business in Nigeria. A large majority of our foods are imported, including meat and fish. No matter what aspect of agriculture you are thinking about, it’s untapped.
Too many people are seeking for white-collar-job, and neglecting agriculture. That makes agriculture less competitive, and untapped, and the more reason to tap into it.
Also, there is a monotony in Nigerian agriculture. Only one set of items are being produced. Cassava, pepper, tomatto, a few vegetable leaves, and catfish.
There are so many amazing farm products that can be produced on the farm, but widely neglected by farmers.
One of the greatest problems of agriculture is connecting with buyers. Do your due diligence before investing big.
8. BLOGGING AND YOUTUBE: Just like most internet and technology based businesses in Nigeria, they are still at their infancy, meaning there is still room for more people.
Blogging and Youtube are great ways to raise good monthly income in Nigeria. As long as you can consistently create great content weekly, you can start up and in a few months time, you’ll start reaping the fruits of your labour.
There are a few websites already popular and doing great in Nigeria, but it’s still in its infancy. Only few niches are saturated. Majority are widely open for loads of newcomers.
If you want to venture into blogging or “YouTubing”, you need to learn all they entail and get all the necessary equipment.
I have written some great articles about getting started with blogging, and you can read about them here and here.
Alright, guys. Those are few untaped businesses in Nigeria. I am aware there are several others not mentioned in this blog post. If you have any other suggestion, let me know in the comment section below.
Oladokun Oladapo, otherwise known as Mr. Jedu, is a digital enthusiast with a deep love for the internet and creativity. He loves to write, think, research and create. A Wordsmith, Graphics Designer WordPress designer, and Front-end Developer. He puts so much effort to make a difference.
For your Website and Graphic design projects, contact me at [email protected] or DM at any of the social media handles below.