One of Nigeria’s six geopolitical zones, the South East represents the country’s inland southeast both geographically and politically. Five states make up this region:
Abia, Anambra, Ebonyi, Enugu, and Imo.
The area is also referred to as a commercial and trading zone because it is home to small and medium-sized indigenous businesses that provide goods and services.
Yam, cassava, rice, cocoyam, etc. are the primary agricultural products of the region. The region is rich in natural resources and solid minerals, including bauxite, iron ore, lignite, clay, coal, tin, and columbite.
The Southeast may have surmounted obstacles that prevented investments and restricted revenue sources because it is now ranked among the top three business-friendly regions in the nation.
According to investigations, the region’s states were among the worst in the nation in 2011 because investors were prevented from doing business there by obstacles such double taxation, high taxes, and investment uncertainty.
Eight years later, the unfavorable investment climate that has not only stimulated private investments but also increased the internally generated revenues (IGR) of governments in the zone may have replaced the ugly development.
No state in the zone today generates less than one billion naira per month from internal sources thanks to streamlining efforts in this area. Rising private investments that took advantage of the favorable business environment in the zone were blamed for the development.
The Enugu State government has asserted that it could survive without funding from the federal government. The monthly revenue that is generated internally makes this possible.
Currently, the state receives approximately N25 billion in IGR annually. The South East of Nigeria is home to numerous successful enterprises. But in this piece, we’ll focus on only ten to act as a starting point for anyone who wishes to launch a business in the Southeast but is unsure of where to begin
1. Agriculture business
In Southeast Nigeria, where billionaires are currently being created, this is the newest breakthrough sector. The vast potential of agribusiness, a field we have neglected for years due to the discovery of oil, is starting to dawn on South Easterners both at home and abroad. People are starting to look into other sectors of the economy to make money now that the oil is running out.
A. Food processing
This is not the best option for somebody with a limited budget. The lowest start-ups reported capital with mechanical assets as high as $1 million. Here’s how the system functions and some information on the potential in food processing. The main goal of food processing is to transform raw materials into consumables. And the largest industry in the world is taking the initiative. You might choose to enter any of these markets and still succeed in the $48 trillion market;
- Beverage production,
- Garri Production,
- Processing of groundnut and palm oil,
- Making yogurt with ground rice,
- Tomato puree production,
- Iced food.Fast food restaurant, eatery, or bar
Although it can be killed off by inadequate management, the restaurant industry is another gold mine. If you want to start this business, make sure everything is done correctly and keep in mind that it demands some funds and solid management abilities. However, you can get good money if you do everything correctly.
B. Poultry farming
The common Southeast Nigerian is getting rich because of this company. Even strangers are entering the poultry farming industry in Southeast Nigeria because it is so lucrative And why not? What would you anticipate in a nation with more than 150 million citizens? When the return on investment starts to flow, if you start with 1,000 birds and run your poultry farm well, you will be generating millions per year.
C. Cassava Manufacturing
People are starting to pay attention to this area of Southeast agriculture that has been disregarded for a long time. Foods made from cassava are among the most popular in the southeast. Your yield will be excellent if you can invest in cultivating 50 to 100 Acre in a fertile area
D. Rearing Snails
One of the most popular forms of animal farming is the farming of snails. It has a low initial cost, a high return, and a big market. There aren’t many people doing this right now, and those who do tend to do it on a very small scale. A person who invests heavily in the snail farming industry is guaranteed to make millions of dollars within a year.
E. Farming of catfish
Many people have reported having luck raising catfish. However, how did they approach it? While the majority of them immediately integrated all five of the numerous strategies to profit from the catfish farming industry. Some people began by hatching because it is the least expensive method. According to data, you can begin hatching with as little as #10,000.
E. Rice agriculture
The most popular food staple in Southeast Nigeria is still rice, and because local farmers lack the resources and expertise to meet demand, this product is imported from China and Thailand every year for billions of dollars. Anyone with a million dollars to invest should learn about rice growing because a 100% return is promised. #1,000,000 guarantees #2,000,000.
Others include;
Fish farming, Livestock farming, herb farming, exotic flower farming, maize farming, bee keeping, plantain plantation, cucumber farming, pure water production, fruit juice making, food stuffs retail, food crops sales or production etc.
2. Oil and Gas Business
We are fortunate to have a sizable oil deposit on our property, which offers Southeast Nigerians and foreigners some of the best commercial opportunities. Owning a gas station, supplying diesel, and distributing kerosene are a few businesses in which you can invest with ease and profit handsomely for yourself. For years, South East Nigeria has produced millionaires and made millions of dollars for people thanks to the selling of petroleum products.
3. Real Estate Business
Many of the richest people on the planet have roots in real estate. Many people have figured out why property owners have greater net worth. However, be sure you are skilled at renting, leasing, flipping, and selling before attempting to enter the real estate market. You are ready to proceed once you have done all of that with solid managerial ability and an understanding of how capital-intensive real estate is. You can launch your own real estate development business and begin offering landed properties for sale, lease, and rental. Alternately, start out as a middleman or do an apprenticeship with a reputable company to develop your network (connections), get expertise, and amass enough money. Here is a done-for-you option if you need a blueprint. Property values in southeast Nigeria rise daily. Currently, one of Nigeria’s regions with the highest land prices is the southeast. Anywhere in the southeast, if you purchase land right now, you will profit 100% in two years. You have the option to acquire, immediately resell, and profit. Alternatively, you might purchase, hold onto it, and sell it later.
4. ICT Business (Hardware and Online Business)
ICT Sub-industries are at the tips of the large industry known as information and communication technology. And as the name suggests, practically every one of ICT’s sub-industries calls on technical expertise. Making it a sector with lots of chances but not enough players who are qualified. However, given everything else, there are still some ICT careers that don’t require as much technical knowledge. These stated ICT enterprises are therefore expanding as quickly as current technological advancements, even if you’re not particularly tech-savvy. There are many sub industries under ICT including;
5. Buying Internet Company Shares
This new wave of investment opportunities, which includes southeast Nigeria, is producing billionaires worldwide. It is easy. You don’t need to be a tech expert to invest in an innovative internet tech firm with sound ideas. You will be making millions of dollars in profits in one to two years. Our main objective has been to encourage other southeast Nigerians to start their own businesses by encouraging the open exchange of business ideas. This investment strategy is intended for individuals who are truly adept at seizing an opportunity.
6. Online Marketing Company
The number of Southeast Nigerian advertising is growing alongside its online presence. Thousands of companies in Southeast Nigeria are expanding their operations online in order to capitalize on the enormous number of internet users in that region and advertise their goods. For astute digital marketing professionals, this surge has opened up yet another economic potential in Southeast Nigeria.VIn South East Nigeria, you can start your own web advertising company right now and earn millions.
7. Show and media business
Are you aware that Nigeria is Africa’s entertainment hub? Are you also aware that in Africa, Nigerians are the biggest consumers of media content? You can now see how viable and successful the media and entertainment industries may be in southeast Nigeria. Others include many businesses you can do online; You can find 50+ digital skills you can engage in and as well learn any of them that suits you or refer someone to learn by visiting Schwiz Web Digital Skills Academy
8. Transportation Business (Including Haulage and Outsourcing)
In this area of the economy, we have transport firms that are poorly run by local chiefs and touts. If you make an investment in this company with competent management, you’ll be surprised by the windfall of cash. You can buy mini- shuttles, tricycles, buses, bikes or an online Uber system and put them on hire purchase.
A. Logistics (Haulage) and outsourcing
Because they are unable to drive and lack the funds to purchase a car, the majority of people choose not to work in haulage. But given how simple and quick it is to obtain loans today, that shouldn’t be the case.
And most of the time with no collateral. So how do you handle a sum that has been raised? First, an introduction. And now, for those who have never worked in haulage or logistics, here is a brief explanation. Transporting products and persons for a charge both inside and outside of southeast Nigeria is the core of the haulage and logistics business model. Due to the fact that no industry can function today without transportation, it is one of the top 10 fastest expanding enterprises in southeast Nigeria. And here is where outsourcing comes in—many businesses, religious organizations, and educational institutions outsource their transportation services. Nowadays, when the competition is still weak, spreading awareness of your new startup brand in industries like these requires far less effort.
B. Haulage Services
In southeast Nigeria, the cost of using a truck to go between two locations ranges from N20,000 to N200,000. The majority of commodities in southeast Nigeria are delivered by road due to the region’s subpar rail transportation system, making the haulage industry there profitable. The transport of petroleum products and the transportation of goods from producers and importers are currently the most lucrative aspects of haulage in southeast Nigeria.
9. Hotel Business
This is most likely the most exciting way to make money in southeast Nigeria. Make an investment in a tiny hotel with only 10 suites and watch the money roll in. There is simply something about southeast Nigerians’ systems that makes this business extremely lucrative—south easterners are cheerful people! This has nothing to do with any kind of tourism boom! A typical hotel room in the Southeast now costs #8,000 per night to check in. The majority of typical hotels charge about #15,000 per night. But putting money aside, is the hotel industry a rapidly expanding business model? More hotels are constantly being built in the southeast by both international investors and locals due to the success of numerous hotels and the rate of expansions undertaken by hoteliers.
10. Furniture Sales and Tokunbo Business
Locally made furniture trading and buying is a gold mine. To accomplish this, all you need to do is make plans for a dependable Carpenter to supply you on a regular basis while you showcase and sell your products in your showroom. Nigeria is a very significant market because so few people can afford the imported designers.
Used Items Sell Well in Southeast Nigeria
The tokunbo market in Nigeria is enormous. Instead of purchasing bogus new goods that might be fake, people choose to purchase high-quality old goods. When compared to the pricing in the market here in Southeast Nigeria, the cost of purchasing and importing old clothing and other used stuff is minimal. This will ensure a healthy return on your investment.
The most crucial factor is that you use your money wisely.
11. Automobile Tokunbo Spare Parts Business and Sales of Building Materials
Importing Tokunbo Spare Parts This business is extremely beneficial for you if you live in the USA, Germany, or Denmark or if you have the financial resources to import goods into Nigeria. Instead of simply continuing to import fancy automobiles, collect tokunbo spare parts in containers and send them to Nigeria. Southeast Nigeria has a sizable market for used (tokunbo) spare parts.
12. Building material sales
When you consider how quickly new homes are being built in Southeast Nigeria, you start to wonder why so many people continue to lament their housing situation. In Southeast Nigeria, investing in building supplies is a profitable venture. Many people are generating millions almost every day in this industry. In addition, you can export goods and raw materials like food and minerals.
13. Professional Car Wash And Dry Cleaning Business
These businesses can go alongside or separately. Laundry or dry cleaning In Southeast Nigeria, there aren’t many professional dry cleaners offering reasonable costs. What we have are either incredibly expensive professional dry cleaners or subpar dry cleaners who are never able to keep up with demand. Give them clothes today, and when a week has passed, meet them unwashed. If you balance this company out, you’ll make money.
A. Professional Car Wash
This business is successful if you can locate it at a prime spot in a developed neighborhood or huge city where there are lots of cars. You can decide to add a Fashion business to your dry cleaning spot and generate more revenue or do it separately.
14. Fashion Industry
The trendiest people in the world are probably from Nigeria. Thanks to the transformation in southeast Nigeria’s fashion industry, which has been sparked by the region’s booming entertainment sector, fashion designers are becoming billionaires on a daily basis.
15. Nursery and Primary School Plus Daycare Center
A. Primary School and Nursery
There isn’t a single opponent in the school business. Just to learn the ABCs, little kids’ school fees are close to a million naira per term! In Southeast Nigeria, the school industry at all levels is a substantial industry that brings in millions of naira.
B. Day Care Center
Although opening a daycare center is simple, maintaining one requires the skills of a risk-taker who is also knowledgeable about parenting. Lacking the latter quality doesn’t always imply you won’t enjoy this. Based on your budget and the size of the daycare center, you may easily hire as many babysitters as you like. If everything is in order and you have the know-how to establish a profitable daycare center, you may start making money on a monthly, daily, or weekly basis, depending on how you like to be compensated
In conclusion
The most crucial thing is that you use your money effectively. Choose one of these ventures, and get going right away. It is not a good idea to keep your money in a bank where they would utilize it for their own gain and give you nothing in return. Spend some time looking over this website. In Southeast Nigeria, there will be more attractive businesses for you to invest in. Numerous Nigerians, both at home and abroad, are already benefiting from their investments in the Southeast Region.
