Some Nigerians who have made some savings or recently got to acquire a large sum of money, like 100 Million Naira, 120 Million Naira, and 150 Million Naira, are confused on the business to start with that amount. It can be frustrating and tricky as losing such amount is troubling. In this post, we’ll be guiding you on profitable businesses to start 100 Million Naira, 120 Million Naira, and 150 Million Naira, in Nigeria.
Before you go on, you should know that the profitable businesses mentioned here are long term secured business where there are little chances of losing your money. Having this large sum, you shouldn’t go into a risky business in order not to lose it. You should do more secured business.
In addition, you have to do market research, too, to know the business that works well in your neighborhood. It might not be the type of business that moves in a different location that moves in your location. You should also ensure you learn the ways of the business from a successful person in that business before venturing into it.
Now, let’s go to the main deal.
Profitable Businesses to Start with 100 Million Naira, 120 Million Naira, and 150 Million Naira, in Nigeria
1. Palm Tree Plantation
This is always the number one business I will recommend to anyone with a large sum of money as it is profitable, durable, and risk free when compared to other businesses. With 100 Million Naira, 120 Million Naira, and 150 Million Naira, in Nigeria, you can conveniently set up a palm oil tree plantation.
You should chose the states of Edo, Ondo, Delta, Cross River, or Akwa Ibom for these as they have more productive and cheap lands for these.
You buy around 500 hectares, you clear, you plant, you use manure, you employ workers to help you take care of it till it starts fruiting in the 4th year. From the 4th year, you start recouping your investment. To us, this business is far better than real estate. Palm oil is gold right now.
2. Mining and Quarry
This amount might be too small to go into mining and quarry but it is not exactly so. Nigeria is all about who you know. If you know people who can grant you government approval to mine raw material and resources, you can give it try.
The amount is sufficient to mine gold, lithium, fine glass, stones, clay, coal, and so on. It is not enough for crude oil, so don’t go there. You can mine these hard raw materials and sell to the producers.
You can also use it to buy trucks and be buying mined sand and gravel to sell to house builders.
3. Distributor and Supplier of Fast Selling Commodities
You have to do a market survey and research of you area to know the goods that move so fast. However in most urban locations in the South, gins in small bottles, bottle water, soft drinks, diapers, and some others move very fast. You might even discover that most of the retailers and wholesalers in your area go to a faraway market to buy; you can utilize this by filling in this gap.
You buy a bigger truck and a smaller truck, you go directly to the company to buy. You put it in your rented warehouse. From here, you supply directly to the retailers and wholesalers, making good money for yourself. You’re only to do this business if you discover this gap and if your location is an urban setting with large population.
4. A Mini Ranch
A capital of 100 Million Naira, 120 Million Naira, and 150 Million Naira, in Nigeria, might not be enough to start a stand ranch. However, you can make good money by establishing a mini ranch. Of course, it is a long term process but it is quite profitable on the long run.
You buy about 30 to 100 hectares of land along a busy road in a secure area. You build something like a house, sink borehole, and secure the house area where the animals will be sleeping with any type of fence. You buy cows, sheeps, goats, and other ruminant animals.
You employ two herders, and a security man. You have the contact of a veterinarian ready. This Veterinarian should go check up on your animals every week to ensure they are not sick or infected.
From 10 cows (8 female, 2 male), 25 sheeps (21 female, 4 male), 30 goats (25 female, 5 male), your ranch will grow to about over 35 cows, over 70 sheeps, over 80 goats in 5 years. The more animal you buy the more they increase.
You can plant economical trees on some sections of this your land like Cashew, Palm Tree, Plantain, Banana, and so many more to provide shades to the animals when grazing and also for you to harvest them and sell.
It is a long term profitable business you will earn a lot in 6 to 10 years when the business stabilizers.
5. Haulage and Transportation
We would have suggested this business first but due to how risky it is we decided to make it the last one. It is the most risky of all these businesses mentioned here even though it’s very profitable when managed well. A capital of 100 Million Naira, 120 Million Naira, and 150 Million Naira, in Nigeria, might not be enough to start or fully but it can be managed.
With this amount, you can buy two trucks, register to be part of their union, and employ drivers. One thing with this business is that you will begin to see customers once you buy the trucks as there are always shortage of trucks in Nigeria. However, it is risky business due to Nigeria’s unsafe and bad roads. You’ll be making money in millions soon after you set it up.
You can also set up a transportation company by buying 10 good sienna vehicles. You find routes that moves very fast in terms of number of passengers from your location. You rent a visible and marketable location as your park. You make the price affordable to attract customers. You employ drivers.
To make money out of transportation, you should do well to cut down your fuel expenses, so buy sienna or suv that don’t gulp fuel. Buy ones that the spare parts aren’t expensive. You should also endeavor to buy ones that are rugged to withstand Nigeria’s rough roads.
On employing driver, pay them per ride, and try to pay them well without taking much of your profit. It’s when you pay drivers well that they treat your passengers right. Give strict warning and punishment for overspeeding.
Presented above are profitable businesses to Start with 100 Million Naira, 120 Million Naira, and 150 Million Naira, in Nigeria. You should try and manage them well. Some of these businesses are risky and would demand that you do them well.