Nigeria’s economy is one of Africa’s fastest growing. It’s a country that has seen a lot of growth and changes in the last ten years, with more than two-thirds of Nigerians now living in cities and the GDP per capita increasing from $300 to $1,000 since 2000.
Here is a list of investments that can help you build wealth. These investments are safe and have attractive monthly returns.
Nigeria Stock Exchange
The Nigerian stock market is worth over $300 billion, so there are plenty of investment opportunities.
Stock investing offers high liquidity, transparency, and diversification, both of which help to cushion the blow when markets fall.
Lagos Real Estate Property Market
For investors looking to purchase properties that can be rented out, the Lagos property market offers a fantastic opportunity. In comparison to other countries, rental prices in Nigeria are very low, and the potential return on investment is high.
Property is costly for tenants but manageable for buyers or anyone seeking to become home owners, so investors should keep that in mind.
Investing in a stock in the car industry would expose you to one of Nigeria’s most important industries.
The profitability of this industry will increase as the Nigerian population grows and demand for automobiles rises.
The telecom industry is worth billions of dollars and offers many investment opportunities. Every day, more people sign up for internet service, resulting in an increase in the number of cell phone outlets and an increase in the demand for data services.
Taxify or Uber
Investing in these companies would expose you to the burgeoning car-sharing industry.
This sector has a lot of potentials, and there are prospects for exponential growth, as more people are moving away from conventional taxi services.
Uber’s market in Lagos, Port Harcourt, Abuja, Ibadan, and a few other cities is expanding at a faster rate than it has ever been.
If you invest money into these companies today, your investment will grow by the time they are fully operational.
If you’re considering investing in the agriculture industry, now could be the best time to do so, as technology will soon enter the Nigerian farming industry.
Artificial intelligence farming is a recent technique that has made its way to rural Nigeria and can benefit farmers in a variety of ways.
Furthermore, when compared to any other sector in Nigeria, agriculture has the highest gross domestic product, indicating that this is an investment worth considering for anyone looking to develop their capital.
Even though there are risks associated with investing in agriculture, the majority of these risks have been mitigated.
Supermarkets are stores where you can purchase food and other household items such as medicine, toiletries, clothing, and so on. It is one of those businesses that, if done correctly, will allow your capital or investment to double in no time.
It’s been seen as one of those high-return, low-risk investments because it’s a service that people can’t do without, which means they’ll always need it no matter what happens.
As a result, anyone who begins one will not be sorry.
Barbing and Beauty Salon
This is one of the most popular businesses in Nigeria today. With an estimated 10,000 hair salons scattered across the world, a Nigerian only needs to travel less than 1 kilometer to find one.
Beauty is a thriving industry in Nigeria. Nigerians, in reality, spend more money on hair care than any other country on the planet! Lagos, with over 15 million inhabitants and nearly 14,000 barber shops and beauty salons, is Africa’s most populous city.
For more than two decades, Nigeria has been a major player in the supply of products from China to Africa and other developing regions. Nigeria imports around $6 billion worth of Chinese products per year, more than any other African nation, except South Africa.
What Do You Import? Clothing – Textiles such as fabrics, clothing, and shoes are simple to transport and have a consistent monthly return on investment. Nigerians are fond of new imported fashion trends, so this is another good way for investors to make quick money with minimal risk.
Electronics – The Nigerian electronics sector is rapidly expanding. Buying and reselling these products may be profitable, but the consumer must understand what they’re doing or risk making a costly mistake.
Gold jewelry has always been common in Nigeria due to its perceived value as a luxury item as well as an investment opportunity.
The top nine highest monthly returns in Nigeria are represented by the investments listed here. If you’re looking for a way to increase your income while lowering your risk, look into these options first.