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What Viable Business Can I Start With About N20 Million In Nigeria - Business - Nairaland

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What Viable Business Can I Start With About N20 Million In Nigeria by ElChidi: 3:30pm On Sep 18, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by Marioplus(m): 3:39pm On Sep 18, 2017
Start a banking business with your consolidated capital.
Use your money to get more money.
Re: What Viable Business Can I Start With About N20 Million In Nigeria by wengerman: 3:50pm On Sep 18, 2017
Beer and beverage distribution in Lagos and Agriculture targeting Lagos market. You can inbox me olaniyi_ayodele@yahoo.com and whatsapp 08059577254 for more discussion
Re: What Viable Business Can I Start With About N20 Million In Nigeria by Kimkardashain(f): 4:51pm On Sep 18, 2017
ElChidi:
Hello house, I'm based in the US and I've been seriously considering starting a business in Nigeria. I would like to invest about 20 million naira in a viable business in Nigeria and I would really need the help of my naija brothers and sisters in the house to educate me on viable business options in Nigeria.

Hope to hear from you guys.
poultry farm. nt just chicks,bt pig, fisheries, snail, and bush meat.
you will make it. trust me
Re: What Viable Business Can I Start With About N20 Million In Nigeria by Fxmanager(m): 8:27pm On Sep 18, 2017
ElChidi:
Hello house, I'm based in the US and I've been seriously considering starting a business in Nigeria. I would like to invest about 20 million naira in a viable business in Nigeria and I would really need the help of my naija brothers and sisters in the house to educate me on viable business options in Nigeria.

Hope to hear from you guys.

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Re: What Viable Business Can I Start With About N20 Million In Nigeria by businessexploit: 8:38pm On Sep 18, 2017
There are lots of lucrative business you can start.
See : Top 10 Recession Proof Business Ideas To Start Today
What I mean to advise is that you need identify what you have passion and strength for.
Re: What Viable Business Can I Start With About N20 Million In Nigeria by Pixeldesign: 9:57pm On Sep 18, 2017
If you don't mind investing in an ICT startup that would revolutionize the real estate sector... Changing the way we choose to build 09031695359.
We are seeking for investors invest 100million
With a 10mil investment on your part and an agreed upon share equity, you are good to go.
Re: What Viable Business Can I Start With About N20 Million In Nigeria by Partnerbiz3: 11:33pm On Sep 18, 2017
Don't waste your time here bro.
No biz idea on nairaland. And those that have clue won't give you. Those are the select few smart ones. If you doubt it, watch the laughable comments that will follow.

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Re: What Viable Business Can I Start With About N20 Million In Nigeria by Nobody: 1:20am On Sep 19, 2017
I hope you are planning to relocate to Nigeria to run the business yourself, if not you will lose that money as soon as you bring it into the country.

Am running agro business in Nigeria and live in the United States, its been the most difficult thing I have done in my life . With everyone looking for a way to reap you off.

6 Likes

Re: What Viable Business Can I Start With About N20 Million In Nigeria by MrMcJay(m): 1:44am On Sep 19, 2017
When a man with money meets a man with experience, the man with experience gets the money and the man with money loses his money to acquire experience.

OP, let me tell you a true story.

One Nigerian abroad wanted to build a house here in Nigeria. His father in law (wife's father) offered to help. He sent money for the land, money for agents, lawyers, etc and money enough to construct a Duplex to the old man. At regular intervals, the father in law was sending pictures of the building in progress to this man.

Suddenly, the man came into Nigeria and decided to see things for himself. That was then he discovered that his father in law didn't buy a square inch of land or mould a single block. Instead, his father in law used his money to collect chieftaincy title, marry new wife and lodge in hotels.

If you want to invest in Nigeria, you must be ready to have trusted people supervise on your behalf. Otherwise, take a long look at your money cos you're about to lose it.

My own advice is very simple: lock that money in Treasury Bills here in Nigeria for such period of time as is necessary for you to get enough information, expertise, documentation and supervision to start your business.

In the alternative, the real estate sector offers great opportunities and is very lucrative which you can invest in remotely. However, you need proper verification and expert knowledge to invest.

Eg, buy a parcel of land and sell it in plots, buy a run down house and build a block of flats on it to sell per flat. Also, you can build students hostels and you're assured of annual sweat free rental income. All these are what I'm actually involved in.

Whatever you do, be very careful.

Cheers.

12 Likes

Re: What Viable Business Can I Start With About N20 Million In Nigeria by tonzo(m): 2:21am On Sep 19, 2017
bros you have to be ready to come back home

1 Like

Re: What Viable Business Can I Start With About N20 Million In Nigeria by Immaculatesnow(m): 3:22am On Sep 19, 2017
ElChidi:
Hello house, I'm based in the US and I've been seriously considering starting a business in Nigeria. I would like to invest about 20 million naira in a viable business in Nigeria and I would really need the help of my naija brothers and sisters in the house to educate me on viable business options in Nigeria.

Hope to hear from you guys.

Sponson my Audio youtube brand channel https://www.youtube.com/channel/UC3VqvTATKsPiDTe6XF5fifg named SIMBAZ which is a major audio brand I set up for Audio and cinema tutorials made for USA and UK guys that is just 2months old and profitable from ads and eBay affiliate and can make so much with my other ideas to build the brand, as I have serious experience in cinema equipment installation, Home theater installation for big brand in USA like SVS, KLIPSCH, POLK AUDIO and many so if you want to build a major first in Africa audio brand then call my number on my profile and I can relocate to Lagos or USA if you can fund it dude.
Re: What Viable Business Can I Start With About N20 Million In Nigeria by fxjunkie(m): 3:54am On Sep 19, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by connectsam: 1:36pm On Sep 19, 2017
If you are really serious email me adigwesam@gmail.com. Let me share some with you
Re: What Viable Business Can I Start With About N20 Million In Nigeria by fxjunkie(m): 2:06pm On Sep 19, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by ministeriallist: 4:23pm On Sep 19, 2017
ElChidi:
Hello house, I'm based in the US and I've been seriously considering starting a business in Nigeria. I would like to invest about 20 million naira in a viable business in Nigeria and I would really need the help of my naija brothers and sisters in the house to educate me on viable business options in Nigeria.

Hope to hear from you guys.
I advise you keep your money if you don't want it to go down the drain. But if you have decided to relocate to Naija, you can start a small business yourself first, try to understand the market, then you can gradually expand the business.

2 Likes

Re: What Viable Business Can I Start With About N20 Million In Nigeria by LordofNaija: 9:59pm On Sep 19, 2017
bros bring that your money make i sey give you daily sure 2odd
Re: What Viable Business Can I Start With About N20 Million In Nigeria by ElChidi: 10:14pm On Sep 19, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by ElChidi: 10:20pm On Sep 19, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by Veeflow(m): 11:03pm On Sep 19, 2017
Set up a bakery in a good location. Vitalis2020@gmail.com let's talk from there
Re: What Viable Business Can I Start With About N20 Million In Nigeria by fxjunkie(m): 1:34pm On Sep 20, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by kismo(m): 4:21pm On Sep 20, 2017
You can consider any of these:
1. Buy old houses in a good location (school area, company area) and convert it to well finished self-contained rooms and let them out at a good rate. You can buy some buildings that will give you 15 to 20 rooms.
You can as well build something like hotel (not for hotel purpose) and let the rooms out on monthly rent. They will only pass the night there but they will not be allowed yo cook there or do any other thing than to sleep. When they are leaving in the morning, they will need to drop keys. I really don't know how to explain this here. You can contact your agent in Nigeria for for better explanation.
2. If you don't mind, you can also invest it in cryptocurrency trading and get at least 10% returns monthly until you decide on what yo do with the money. This is more profitable than treasury bill of 18% per year.
3. You can buy hectares of land in developing area and leave it for at least 6 months before selling. Ensure the own land is cleared by tractor and do the layout as well as beautiful 4D design plan. Sir, you will be surprise with with the returns.
4. Choose any of the above or come up with your own idea.
Note: You need a trusted person in Nigeria sir to do any of the above. It does not have to be your family member.
Goodluck.
In case you need more clarification, my WhatsApp number is : 08038505585

ElChidi:
Hello house, I'm based in the US and I've been seriously considering starting a business in Nigeria. I would like to invest about 20 million naira in a viable business in Nigeria and I would really need the help of my naija brothers and sisters in the house to educate me on viable business options in Nigeria.

Hope to hear from you guys.
Re: What Viable Business Can I Start With About N20 Million In Nigeria by ElChidi: 8:31pm On Sep 20, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by 2sexyus: 9:39pm On Sep 20, 2017
ElChidi:
Hello house, I'm based in the US and I've been seriously considering starting a business in Nigeria. I would like to invest about 20 million naira in a viable business in Nigeria and I would really need the help of my naija brothers and sisters in the house to educate me on viable business options in Nigeria.

Hope to hear from you guys.
No read this... in whatever you decide NEVER give anybody money to invest for you...I don talk my own. Avoid people who say contact me at 080xxxxxx... there is no money in Naija oo... people are looking for the next MMM, Nairabet. naijabet and baba ijebu victim ooo.
Re: What Viable Business Can I Start With About N20 Million In Nigeria by akinsmail51: 10:36pm On Sep 20, 2017
Thank you very much for posing this kind of question here, it offers various benefits most especially from the answers from the members here. Kudos to everyone!

No doubt, I will like to concur with some of the business ideas raised above, more importantly, those involve buildings. To me, investing in building student's hostel sound appealing and worthwhile. You may want to give it a try, make sure you build your edifice very near to private institutions!

Aside that, I will suggest the following businesses for you.

Food Processing : I am stronger believer of the motto that 'whatever goes to mouth is a good business.' You may invest in bakery stuff, you may leverage on producing the like of Shoprite bread or Captain Cook stuff. With sound managerial and marketing skills, you are good to go.

Marketing of agriculture produce is another good investment you can consider. You may work on how to be a supplier of raw materials(such as dried corn, soybeans, palm kernel nuts, etc) to major local and foreign industries.

Lest I forget, you may buy a large expanse of land, graze it and turn it into pasture for cattle rearing. With this seemingly stupid idea, you charge cattle rearers for feeding their cattle in your pasture or you sell the grass to them. Doing this, you will be making money and give back to the society as well.

Good Luck!

1 Like

Re: What Viable Business Can I Start With About N20 Million In Nigeria by kismo(m): 1:04am On Sep 21, 2017
You don't need to buy a land (l did not mention that in my writeup). You can get a storey building bungalow (face me and face you) of like 6 to 8 rooms in each floor for 7 to 10m naira in Oyo State at good location. Conversion and renovation should cost you 8 to 10m maximum. You will make good returns. Believe me. It is not going to be hostel though students can also rent it since the rooms will be self-con.
The estimate l gave is valid for Oyo State. I don't know of any other state.
At least try to come to Nigeria to see things for yourself. No one is saying you should send them money.
Good luck.

ElChidi:


Thank you for the information, I appreciate it. However, only the first option is the one that appeals to me. But my concern is I plan to invest between 20 and 25 million naira, not more than that, and I feel building a hostel near a school would cost more than that. By the time you factor in the cost of land, then the cost of building the hostel, then the cost of amenities such as borehole water, beds, toilet, bathroom, etc etc.

What do you think about the cost of a hostel? The hostel must be near a school which means it would be in a choice area which would make the land cost to be very expensive.

You mentioned buying a house and converting it into a hostel, that sounds really good but don't you think buying a house in such choise area would cost more than 25 million naira, not to talk of cost of refurbishing the house into a hostel.

Would like to know your take on this pls.

Thank you.
Re: What Viable Business Can I Start With About N20 Million In Nigeria by ElChidi: 2:51am On Sep 21, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by MrMcJay(m): 2:52am On Sep 21, 2017
ElChidi:


Thank you for the information, I appreciate it. However, only the first option is the one that appeals to me. But my concern is I plan to invest between 20 and 25 million naira, not more than that, and I feel building a hostel near a school would cost more than that. By the time you factor in the cost of land, then the cost of building the hostel, then the cost of amenities such as borehole water, beds, toilet, bathroom, etc etc.

I actually have 3 people who I represented and advised on student hostel developments and 2 spent below your budget and the third spent 28M. One of them who is a Nairalander spent lesser than your budget.


ElChidi:

What do you think about the cost of a hostel? The hostel must be near a school which means it would be in a choice area which would make the land cost to be very expensive.

It actually depends on the state in which you're based when in Nigeria. If you are based in Lagos, I don't advise you buy something in Lagos. You go to any of the neighbouring states and get an affordable plot there and put up your students hostel or buy an already developed hostel there.

For example, you can go to Ogun State (there are tons of tertiary institutions there) and put up a block of students hostel there. For instance, in Funaab Abeokuta, some self contained hostels cost 150K/annum and you can get a very visible plot of land for circa 3M or lesser depending on the location. Abeokuta is close by to Lagos which is an advantage for investors resident in Lagos. You can go to inspect your development on a Saturday and be back in Lagos by noon.

Also, I know that in Obafemi Awolowo University, Ife, they have their Pre-degree program outside the university campus. Individual student hostel owners give out their hostels to OAU to allocate students to such hostels and the rents are paid to the school as part of their fees. The school then pays such back to the owner of the hostel.

In that same OAU, there is a build, operate and transfer arrangement where the university provides land within the school compound for investors to build and operate student hostels at the investor's cost and transfers such hostel to the school after a set period of years. Before ownership transfers to the school, management and rent collection is in the hands of the investor. Rents in these hostels are around 150k.


ElChidi:

You mentioned buying a house and converting it into a hostel, that sounds really good but don't you think buying a house in such choise area would cost more than 25 million naira, not to talk of cost of refurbishing the house into a hostel.

Well, if you consider areas outside Lagos probably particularly University communities in the SW and SE, you would be able to get student hostels for sale at half of your budget.


In all, be prepared for extensive due diligence before investing and maximum supervision after investing.

1 Like

Re: What Viable Business Can I Start With About N20 Million In Nigeria by ElChidi: 2:53am On Sep 21, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by ElChidi: 2:59am On Sep 21, 2017
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Re: What Viable Business Can I Start With About N20 Million In Nigeria by 2sexyus: 5:54am On Sep 21, 2017
ElChidi:

I totally understand, thanks for the heads up. I plan to be spending a lot of time in Nigeria once I start the business in Nigeria plus I would be importing food items from Nigeria for my African store here so I would always be in Nigeria.
Again, thanks a lot.
Good.

Now let me tell you. Remember we are developing country. Many Nigerians complain about our underdevelopment status but a wise man knows that it's a multi trillion dollars opportunity. The early bird, catches the worm.

This is how most people hit big in this country. If you know your onions, you won't even need to spend to up 20M.

I am going to pick on your brain and make it spark... by making you do the thinking.

Now, observe the hottest niches in Nigeria...

Transportation

Power

Food

Fashion

Education

Ask yourself, what is in the US that is lacking in any of these areas in Nigeria.

Once you have thought about that, make sure that whatever you come up with is in resonance with your personality so that passion will fuel your drive and determination while at it. When you must have achieve that, just pioneer it with less competition and enjoy the ride.

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