Best Business Opportunities in Nigeria

Last Updated: 

Business opportunities in Nigeria may seem hard to uncover at first, but when taking a closer look, the country has a high business potential. Whether you are an entrepreneur looking to setup/expand in Nigeria or simply an investor, the country has the potential to provide significant return on investment.

Nigeria business overview

Population: 188.7 million

National currency: Nigerian Naira (₦)

Economic freedom score: 57.3 (ranked 111th worldwide)

GDP (PPP): $1.1 trillion

Growth (2018): +0.8%

Unemployment: 7%

Inflation: 16.5%


Nigeria is one of the major players on the international trade scene. The West African country is the 49th largest exporter in the world, with a positive annual trade balance of $8.26 billion after deducting imports of $39.5 billion from its total exports of $47.8 billion (2018).

Nigeria’s top 5 commodity exports

  1. Crude petroleum – $36.9 billion
  2. Petroleum gas – $7.39 billion
  3. Refined petroleum – $603 million
  4. Cocoa beans – $504 million
  5. Rough wood – $333 million

Nigeria’s top 5 commodity imports

  1. Refined petroleum – $6 billion
  2. Wheat – $1.09 billion
  3. Raw sugar – $406 million
  4. Rice – $302 million
  5. Palm oil – $199 million

Top 5 business opportunities in Nigeria

We have compiled a list of the 5 best business opportunities in Nigeria. All these business opportunities are fast moving in Nigeria, and considered the ‘safest’ investments, with more than decent ROI.

1. Livestock farming and agriculture

Simply put – Africa holds around 65% of the whole world’s unused land. Added to the suitable climate of Nigeria, farming and agriculture is definitely a lucrative business. Africa’s agriculture business will be worth $1 trillion in less than a decade ( It is good to note that currently, most of Nigeria’s livestock farming and agriculture business are based in rural areas, with low level of automation. With a proper investment in equipment and professional production line, getting in the farming and agriculture sector is a sure ‘win’.

2. Alternative power installation

Sadly, Nigeria is often considered as a ‘superpower with no power’. According to data from the WorldBank, only 54.4% of Nigerians have access to electricity. Power cuts are widespread across the country and the population relies heavily on diesel generators. Electricity supply per Nigerian has barely changed since 2005, while the population has rapidly by over 57 million meanwhile. Getting into the alternative power business in Nigeria would not only help the country, but also drive reliable revenue to whoever is investing. Moreover, since the current power cuts vastly hinder growth, the Nigerian authorities encourage projects aimed at providing reliable power to the country.  

3. Logistics/haulage business

With the ever-growing number of business in Nigeria, the delivery business could be one of the most lucrative opportunities with low-end investment. Everyday, thousands of business haul their goods from one location to another. One way to get into this sector is by targeting big companies that need regular haulage of perishable goods, such as farms, breweries and agriproducts. This is a booming business in Nigeria, with more and more investors recognizing the need to fill the increasing demand for logistics and haulage.

4.Waste management

For many years now, waste management has become a significant problem in Nigeria. The World Bank states that approximately 70% of waste produced in Africa ends up in a landfill or in water. As the population grows, waste management becomes even more problematic. Savvy organizations, such as Visionscape, are already banking on this sector – they offer a range of services aimed directly at tackling the waste management issue, such as waste collection, disposal and recycling.

5. Private schools

According to Caerus Capital, around 60 million African students will be enrolled in private schools by 2021. It is well known that the current educational system in Nigeria is facing a tough time providing quality education to its rapidly growing population. Low-cost private education is certainly one of the most profitable ventures one can set up in Nigeria. With more and more private schools emerging, the competition has improved the quality of education and school fees. Nigerian authorities also encourage foreign investment in the education sector, as they look to improve the literacy rate in the country.

3 Reasons to invest in Nigeria

  1. Nigeria is the largest economy in Africa. The country is the number one destination for Foreign Direct Investment in Africa.
  2. The population of Nigeria is set to overtake that of the United States by 2050. This means there is a huge potential market for almost any product.
  3. The Nigerian economy is growing at its fastest pace since a recession two years earlier. The local authorities have been heavily trying to attract and retain foreign investment.

How to get a head start in Nigeria

Let’s face it: running a business on the African continent is very challenging. With local laws getting amended frequently, it may look daunting to many entrepreneurs and investors to set foot in Nigeria.

However, Africa HR Solutions offers a full range of business services dedicated to organizations looking to get a footprint in Africa.

You can get a definite advantage over the competition by using our services.

  • Simplest and fastest way in Nigeria to hire people without having a registered entity
  • We manage the payroll and employment duties
  • Single solution for all your HR requirements in Africa & a central point of contact for all your queries
  • Always available for your queries and reports
  • Full compliance with local legislation’s – expert across Africa
  • Centralizing of payroll functions
  • Team dedicated to quality and flexibility to meet your requirements
  • Up to date statutory changes through multiple sources
  • Professional indemnity and employer liability

As always, Africa HR Solutions guarantees 100% compliance for your business operations in Africa.

What Can We Help You With?




Grant Geraghty is the longest-serving member of the Africa HR team. This resident subject matter expert and client champion is responsible for gaining a deep understanding of our clients’ unique HR needs in Africa and providing tailored solutions that align with their business objectives. Grant collaborates closely with our clients to ensure that their requirements are properly implemented, providing ongoing support and guidance throughout the process.

Grant brings a wealth of experience to his role, having served as Africa HR’s longest-serving employee. He holds a Bachelor of Commerce degree, with a major in Economics and Business Finance, from the University of Natal in South Africa. Additionally, he has completed a certification program in Payroll and Tax Administration from the University of Cape Town, further enhancing his expertise in HR operations and compliance.

His commitment to delivering exceptional service and his extensive knowledge of HR in Africa make him an invaluable member of the Africa HR team.




Kevina Takoordyal has a BA Hons Business Management from the University of Glamorgan, UK, with MBA in leadership and Innovation, MBA General, PMP Certified, and Agile Scrum Master. She currently works as the Head of Operations at Africa HR Solutions Ltd with more than 20 years of proven leadership capabilities in Operations, Business Development, People Management, Process Optimization, and Project Management in the Financial Services, BPO, Banking Industry, and Heath Care Industry. In Senior leadership roles with an international footprint across Europe working and extensive Pan- African experience from a compliance, finance, and operations angle, Kevina comes across with a panoply of cross-functional skills. Kevina also serves on a few Boards, Non-Independent Executive at MioD and for NGOs on a voluntary basis, a coach and mentor to aspiring female leaders across Africa and Mauritius.

Kevina is a firm believer in Servant Leadership with a strong focus and commitment to uplifting others, with the ability to deliver through a highly engaged – diverse team, and works towards consistently synergistic value creation. While being a focused and adaptive thinker and Kevina is actively participating in panel discussions on Innovation, CX, Digital transformation.

Kevina serves as Project Assessor for the National Youth upskilling program. She has been recognized as Global Talent in a few companies, Ceridian, and International SOS Ltd whereby she has been awarded a few scholarships and had the opportunity to be mentored by Senior Vice President in the US. Award Winner in various fields and at a national level and recognized including Super Achiever Leader Award in Africa in 2016, Awarded Africa Women Leader 2018.



Head of Finance & Business Support

Viloshna is an experienced finance professional with 18 years of expertise in strategic financial planning, financial analysis, cash flow management, systems and controls implementation, financial reporting, and continuous process improvements. She currently serves as Head of Finance & Business Support, where she has successfully automated and leveraged the financial reporting system capabilities to ensure efficient company operations.

Viloshna’s background includes senior roles in a multinational pharmaceutical company and a large listed Mauritian conglomerate. Her meticulous attention to detail and strategic thinking have streamlined financial processes, making her a valuable addition to any finance team. Viloshna is a qualified finance professional with an FCCA qualification and an MBA, bringing valuable expertise to any organization.

In her current role, Viloshna leads the company’s Treasury and Payments function, including the fulfillment of the company’s cross-border payments into Africa. With her strong educational background and extensive experience, Viloshna consistently demonstrates her ability to optimize financial operations, minimize risks, and improve profitability. Her expertise in financial reporting and process improvements make her a valuable asset to any organization.



Head of Legal & Compliance

A qualified lawyer who joined Africa HR Solutions in July 2020, Mark Du Preez has experience working in private practice for a reputable law firm in South Africa. He also played commercially focused roles at a leading private bank, wealth management company, and outsourcing firm in South Africa and Mauritius.

Mark has played a pivotal role in Africa HR Solution’s risk mitigation strategy, which positively impacted P&L performance over the years.

He currently leads the Partnerships function of the company including relationships and oversight with in-country partners (ICPs) across Africa.

Alex Daruty - Africa HR Team


Head of Commercial

Alex has more than 15 years of experience in the global, strategic development of both enterprise and consumer brands in categories including technology, transport, enterprise software, entertainment, and travel.

With experience in roles on both agency and corporate side, he has worked across international brands and has led the development and execution of multi-discipline campaigns across EMEA, NORAM and Asia Pacific.

His focus is on driving meaningful business impact through brand differentiation and building high-functioning, digitally oriented, and analytically driven capabilities. He is motivated by working with, and developing dynamic people, teams, and organizations.

He leads, manages, develops and mentors the Key Account Management department, including line management responsibility for the team of Key Account Managers and Key Account Administrator who represent the Company as the primary communication link between all relevant stakeholders, including clients, third party in-country partners and internal functions.

Originally from Mauritius, he holds bachelor’s degrees in International Business, Finance and Management from the University of Nevada, Reno.