NewStats: 3,263,951 , 8,182,059 topics. Date: Monday, 09 June 2025 at 01:07 AM 2i7270

DAY 3

Small Business Idea #3 - Human and Cargo Transport (by road)

Across the world, there are two major factors responsible for the growth of road transportation - a large/growing population and increasing economic activities.

Nigeria's population (currently at over 170 million) is the largest in Africa and is projected to grow to 250 million by 2040. According to a recent Reuters article (see link below), over 11,000 new children are born in Nigeria every single day. The larger the population, the higher the volume of physical human movement. People are always on the move - going to the office, school, business, market, recreation etc. (Sorry, I forgot to mention 'hustling').

Whether it's daily commute to work or long distance travel (such as interstate), the number of people moving around everyday in Nigeria is astounding! The number of motorcycles (although banned in several cities), taxi cabs and buses is increasing to cater to the growing demand for road transportation. This demand is so high that the government alone will be unable to handle the current and future levels. There is more than enough room for entrepreneurs and private businesses to 'help'.

Although GDP (Gross Domestic Product) is the usual way to measure the size of a country's economy, I personally do not think that it makes any sense to the common man. So, how can you visibly notice the fast rising level of economic activities in Nigeria? I like to look at the number of haulage trucks carrying goods within and outside Lagos. Agricultural products, imported goods from Apapa ports, construction materials (wood, steel rods, sand, cemnet blocks and aggregate), food, petroleum products and several other goods that are transported across Nigeria everyday are a huge and growing opportunity for entrepreneurs to enter the business of transporting goods across Nigeria.

Road transport is the cheapest and easiest way to enter the transport business in Nigeria. All the other options are not ripe for the picking for various reasons: Air transport is capital intensive and out of reach for many (small scale) entrepreneurs. Water transport is picking up but is still a poorly developed means of transportation in Nigeria. Rail? Let's not even go there.

On a final note, I have the following advice for anyone who fancies the road transport business in Nigeria:

- The transport business is not as capital intensive as many people think. Start with one motorcycle, one taxi, one bus or one truck. Start small but dream big.
- Devise a win-win strategy that will help to keep your drivers in check (drivers are crucial to the success of any road transport business and can make or wreck it!)
- You can either hire a driver and pay him a daily/weekly/monthly salary or you could ask for a minimum return at the end of every day.
- Hire/Purchase Agreements seem to work as the best arrangement between vehicle owners and drivers
- If you can afford it, install a tracking device/equipment on your vehicles. It's usually worth the investment.
- Vehicle insurance and regular maintenance are some of the most important aspects of the road transport business that are often taken for granted. Don't make the same mistake.
- Police, FRSC and all sorts of federal, state and local government revenue-collecting agencies can frustrate your road transport business. Make sure you get all the necessary permits, tickets and licenses.

To find more information about human and cargo transportation, I would recommend that you read the following articles:

Moving people around - 5 Profitable businesses you can start to solve Africa’s human transportation problems http://www.smallstarter.com/browse-ideas/transport-and-logistics/human-transport-business-in-africa

Trucking and Haulage: How to make money from Africa’s large and expanding transport market http://www.smallstarter.com/browse-ideas/transport-and-logistics/trucking-and-haulage

Reuters Article - Will Nigerian boom babies feed prosperity or entrench poverty? http://www.reuters.com/article/2013/04/09/us-africa-summit-population-idUSBRE9380DH20130409

I hope you found this small business idea useful and informative. Any thoughts or suggestions? Please share...

See you tomorrow!

smithsammy: it is a great job u are doing here @op. u may not know how many lives u are going to change with this salient information. planning to buy an acre of land in osun for banana plantation. pls do u av any advice u can give on[b] banana plantation business[/b]

Thanks Smithsammy for your kind . Your banana production idea is a good one. I'll just outline my opinions about the business below:

Upsides
- Bananas have the amazing ability to grow all year round. There's no definite banana 'growing season'.
- Bananas replace themselves. You only plant the suckers once and they multiply naturally thereafter.
- Steady market: bananas are always in high demand all year round in Nigeria.
- Short maturity period. Bananas take between 9 to 12 months from planting to maturity.

Downsides
- The export potential of bananas from Nigeria is limited due to strict international rules around packaging, storage, transportation etc.
- Banana cultivation is usually labour intensive. The trees need to be ed so they don't fall under the weight of the fruits.
- Ripe bananas have a short shelf life and many of it may not make it to market due to poor storage, transport etc.

These are just my balanced opinions about the banana business. I hope you find them useful. Suggestions are welcome from other readers.

DAY 2

Small Business Idea #2 - Cassava farming for food and starch production

Don't laugh. I too was surprised that our local and taken-for-granted cassava crop could make my Top 10 list of lucrative small business ideas. For those of us who don't yet know, it appears that 'levels have changed' for cassava in Nigeria.

When most Nigerians think about cassava, smelly fufu and poor man's garri easily come to mind. I need to ask you a small question: Have you been following the price of gari over the past year? Although Nigeria is now the world's largest producer of cassava, how come the price of our 'ordinary' and locally-produced gari has been rising in price (and almost competing with rice, an imported product)? How come our 'ordinary' gari will soon be priced out of the reach of poor people? I'll tell you why...

You see, while Nigeria is the world's largest producer of cassava tubers, countries like Thailand and Indonesia dominate the export market even though they produce much less than we do. How come? Well, raw cassava usually doesn't last long once harvested and without processing, they spoil. These Asian countries have the processing capacity that we don't have. That's right; because of our diminished processing capacity, Nigeria literally eats nearly all of its harvested casssava, anything left goes to waste. For many years, gari has been the only and most common form of processed cassava in Nigeria. But all that is now changing.

Early this year (or last year I think), the Lagos State Government opened a starch production facility in Araga, somewhere in Epe. In Ososa (near Ijebu Ode) there is another 90,000-ton/year starch production plant run by a Thailand-based company in partnership with Nigerian investors (and financed by GTBank). These are just a few. It appears that the global demand for starch (which is widely used in food processing, paper, textile industries) is growing very fast. Because of the growing local demand for cassava as raw materials for these starch production plants, cassava farmers are increasingly diverting their harvests to these factories thereby reducing the quantity of cassava available for foods such as fufu and gari.

This is just one of the reasons why a bucket of gari which sold for about N400 eighteen months ago now sells for N500 - N550 in the local markets. Gari prices (although cyclical) will surely continue to rise as more starch production factories set up in Nigeria and more alternative uses are found for cassava. I ed both facilities and they confirmed that they don't operate as often as they want because they can't find enough cassava raw materials to buy. They need about 300 tonnes of cassava (that's 300,000kg) everyday to produce at full capacity and the current supply is not meeting up!

An average hectare of land produces between 15 to 25 tonnes of cassava at harvest (after 9 to 12 months after planting). Depending on the time of year, cassava prices fluctuate between N10,000 and N20,000 per tonne. In some of the interior areas and villages with good arable land, a hectare leases for N10,000/year (I was shocked and then amazed too!). Add in cheap local labour, cost of fertilizers and herbicides and you should be good.

When you factor in other growing alternative uses for cassava, the full picture starts to emerge. Local demand for cassava flour by bakeries and biscuit manufacturers (which they now use as a low-cost supplement to wheat flour) is growing. China is importing more cassava chips from Nigeria to produce animal feed that its growing livestock industry hugely depends on. The Nigerian Federal Government's Agricultural transformation agenda is also boosting the cassava industry.

You don't have to believe everything I've said. Just keep watching the price of garri for another 12 - 24 months and you'll be convinced. I just hope it won't be too expensive for you by then (LOL!)

Some very interesting articles you should read about cassava production are:

Thai Farms International: Current Cassava Tuber Pricing - http://www.tfinigeria.com/pricing.aspx

Gari and Cassava production – A small business that can change your life! http://www.smallstarter.com/browse-ideas/agribusiness-and-food/gari-and-cassava-production

Faustina Sakyi – The Ghanaian Cassava farmer who turned her world around http://www.smallstarter.com/get-inspired/faustina-sakyi


What are your thoughts? Share, , criticise and ask your questions.

See you tomorrow with another interesting small business idea!

DAY 1

Small Business Idea #1 - Primary and Secondary Education

Education is a very lucrative industry because it is a basic need for many people. Parents want the best for their children and know that education is the only way to guarantee their survival and success in the future. Even poor families in Nigeria are making huge sacrificies to send their children to school. For many of these people, education could be their only bridge out of poverty.

The problem is private schools in Nigeria are often too expensive and the quality of education in government-owned schools is too poor to make any useful impact. Is there really a way to provide primary and secondary education to millions of poor and middle class children in Nigeria and still make a profit?

It appears there is. In Ghana and Kenya, there is a trend of low-cost private primary schools targeted at children of low and middle income parents. For less than $1 (160 Naira) a day as school fees, both Omega Schools (Ghana) and Bridge International Schools (Kenya) provide school uniforms and lunch in addition to tuition. This sounded impossible to me the first time I stumbled on it. 160 Naira as school fees?

As I type these words, Omega and Bridge International schools have enrolled thousands of poor children in both countries and business is booming! I would be much surprised if these low-cost private school chains do not start up in Nigeria very soon. They are cheap to start and run, very profitable, target a large and ignored market (poor people) and, above all, they solve a very serious social problem.

Further reading
To find out more about how you can start something in the education business, I strongly recommend the following information-packed articles:

The business of Education in Africa – 7 lucrative opportunities you can exploit in this huge and growing market - http://www.smallstarter.com/browse-ideas/education-and-training/7-education-and-training-business-ideas-for-africans

$5 School Fees – How this private school makes money from teaching poor kids in Kenya - http://www.smallstarter.com/get-inspired/bridge-academies-kenya

Amazing! How this low-cost private school chain is educating poor children for profit in Ghana - http://www.smallstarter.com/get-inspired/omega-schools-ghana

What do you think about this small business idea? Let's ask, share and brainstorm. You'd be amazed at what we could come up with.

See you tomorrow with another interesting business idea!

I'm in love with small business ideas. I follow them very closely, especially the obvious and interesting ones around us that many of us never seem to notice and often take for granted. I have been compiling a list of business ideas for some time now and would love to share the top 10 on my list with you.

Every day for the next 10 days (Saturday and Sunday not included), I shall be sharing one lucrative business idea with a high success potential in Nigeria. In addition to my personal analysis of each idea, I shall recommend rich and freely available articles on the internet that are packed-full with information on each of these ideas so that you can for yourself. Where necessary, I shall also share some inspiring stories of entrepreneurs who have become successful running businesses that are based on these ideas.

Just to be clear, I will not be selling e-books or any 'paid for' material. I will not be sending any 'private' information to any email addresses, so don't ask for it. Any information or questions will be shared openly on this forum. I believe the world will be a much better place when more people can give freely and ask for nothing in return.

I hope somebody finds the boldness and inspiration they need to take action after they encounter these ideas.

Get excited and see you tomorrow!

Why do people always think they need to pay anything to get a great business idea? And there seems to be a huge industry of 'smart people' selling guide books, success secrets and magic formulas to people who are looking for lucrative business ideas.

I still insist that the best things in life are free - like fresh air, a smile, Google and Facebook!

Good business ideas are free too. You don't need to pay a dime for it. So, I'll give you just one tip... visit http://www.smallstarter.com

You'll see why the best business ideas in life should be free!

#Knowledge should be shared and not sold

The guy who started this thread needed some help with a business idea that will kick off with 40K.

Some people helped, some are offering to sell him 'miracle' e-books and guides while some others want him to them on their personal email to 'discuss more.'

All I can say is that business ideas are FREE and should be freely shared.

And you will find plenty of them on http://www.smallstarter.com

It's the best thing that's happened to me since I stumbled on it last week Tuesday!

I noticed this thread's a bit dated but the ostrich farming business appears to still be making a buzz. I read some article about a Malian farmer (Mamadou Coulibaly) who made about $1.4 million from his ostrich farm in 2011. I was just blown away cos I never knew these birds could rake in that much.

Most of the people who rear ostriches are in South Africa and the Middle East and the bird appears to be a rugged animal because it can virtually survive on any kind of food in every environment. On top of the fact that it's got red meat that is very low in fat and cholesterol, its leather is used to produce some of the best designer leather products on the market.

I never knew ostriches had this kind of potential. I really wonder why many people aren't into it yet!

PS: The full article I read can be found at: http://www.smallstarter.com/browse-ideas/agribusiness-and-food/ostrich-farming-in-africa . It was quite detailed and very eye opening.

I hope this inspires someone.

Cheers.

Hey Everyone,

Abeg Naija Bros and Sisters, I don ask this question tire for another Thread in nairaland but them neva gree answer me:

I have shares with Niger Insurance, and I don't know if i shd sell or hold. There seems to be some price appreciation. I'd love 2 know if there are rumours of a scrip(bonus) issue which may happen to be responsible for the recent rally in share price of this company.

abeg, frankiriri and others, make una put mouth!

Tks

Tolite22

Hey Everyone,

I'm quite pleased with the warmness in this thread and the promptness cum care attached to the way questions are answered. Thumbs up!

U know what, I've been holding on to Niger Insurance shares for a couple of years now and i really need to sell em sometime in the last quarter of this year. Does anyone see a huge move with this stock? and do u think the effects of the consolidation in the Insurance sector has waned off on this stock?

Please fill me in with what u think.

I badly need a heads up!

Ciao!