Leadership's 5 Most Lucrative Businesses in Nigeria (2024)

Popular newspaper, Leadership, has compiled their list of what they believe to be the 5 most lucrative jobs in the country right now and...well, here's the list.

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5. DATA SELLING

Starting from the fifth, Leadership ranked 'Data Selling' as number 5. According to them:

A data reseller is an individual who purchases data in bulk from VTU platforms and telecommunication companies at a relatively cheap price and then resells it to customers at his or her convenient rate.

I personally don't know anybody who does this work, so I can't speak on it but if you have experience, we would all like to know either through these comments or the one on my Facebook page if it is in fact as lucrative as the newspaper suggests.

4. CLEANING SERVICES

The newspaper ranks cleaning services as number four saying:

If you used to clean apartments or offices for a daily wage and are good at it, why wouldn’t you start your own business? All you need is staff to work for you or with you and cleaning products. Thus, you can offer cleaning services for office spaces, houses, and apartments. This service doesn’t come cheap these days.

Hmmm. While I agree that this business can make money, to get consistent people hiring for cleaners, especially in the early days of the business is no small feat. It can get lucrative definitely, but prepare to do the hard work of marketing and networking to advertise the service and build a clientele.

3. EXPORTATION

At number three, the newspaper lists exportation stating:

With the current war going on between Russia and Ukraine, the price of importation and exportation just went up the roof, with people finding it very difficult to access things from their various native lands. You may think there isn’t much to export in Nigeria, but you would be wrong. Shipping materials are one of Africa’s most profitable foreign trades. Exporting raw goods to other nations, such as cocoa, green vegetables, vegetable oil, yam, cassava, palm oil, or crude oil, is sure to make you wealthy. These commodities are in high demand outside the country.

I guess the list Leadership is compiling truly is most lucrative and not most easy to get into, because just like the other one above, this takes a lot of resources to start off and connections as well. This their list...well, let's keep reading.

2. ONLINE ADVERTISING FIRM

At the second position, the newspaper reports online advertising saying:

Advertising is one thing any business needs, and with social media being the new marketplace, why not jump right into this business? This has to be one of the most lucrative and fastest money wells of the new age. In 2018, almost $400 billion was spent on online advertising globally.

From blogs to social media, websites, newspapers, search engines, applications, and games, this industry is taking over the world. Setting up an internet advertising agency will allow you to capitalize on this opportunity and generate money quickly and you can achieve this with as little as N100,000.

Hmmm. The more I read this their report, the more I scratch my head because what are they talking about? Do they know how hard it is to get advertisers or sponsors for any business? Even well-established names will tell you how hard is to get sponsors, and how few and far between advertising work comes. I'm so confused by this list, but let us see their number one pick.

1. MOBILE FOOD VENDORS

At the top of the list, Leadership newspaper lists 'mobile food vendors' stating:

While starting a mobile food vendor business, one needs to have learned or possess cooking skills, which will give you a sharp edge over your competitors, as you have many alternatives like eateries, restaurants, and other mobile food vendors racing to have your customers. Your ability to prepare delicious, nice, and affordable meals will set you above your competitors. You can get this business started with as little as N50,000.

Nawa! I don't know who compiled this list but I would like to have a long talk with them because if they are talking about easiest businesses to get into, this list isn't that. And if they're talking about most lucrative, there are businesses that also make way more than what is on this list. So I'm a bit confused. I think even person that does taxi work would probably earn more money than a lot of what this newspaper is reporting.

But maybe I'm alone in my thoughts. What do you think about what they said? Let me know your thoughts by leaving a comment either below or on my Jide Okonjo Facebook post.

That's All.

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