Nigeria, with its vibrant economy and entrepreneurial spirit, is known for its diverse business landscape. While traditional sectors such as oil and agriculture dominate the economy, there is a growing trend of unconventional and least common businesses emerging in the country. These businesses, though not widely known or explored, bring fresh ideas and innovation to the Nigerian entrepreneurial scene.
From mobile solar charging stations to customized sneaker designs, these unconventional businesses challenge the status quo and cater to niche markets. Similarly, least common businesses such as drone delivery services and ethical fashion brands offer unique solutions and tap into evolving consumer preferences.
Statistics show that these businesses, although less common, have the potential to contribute significantly to Nigeria’s economy. According to a recent report by the Nigerian Bureau of Statistics, non-traditional sectors have experienced a steady growth rate of 7% per year over the past decade, outpacing traditional sectors.
In this article, we will delve into the world of unconventional and least common Nigerian businesses, exploring their potential, success stories, and the challenges they face. By shedding light on these ventures, we aim to inspire entrepreneurs to think outside the box and seize the opportunities that lie beyond the conventional business landscape.
Unconventional Nigerian Businesses:
Drone Delivery Services
Drone delivery services have emerged as an unconventional yet promising business concept in Nigeria. With its vast and diverse geography, Nigeria faces challenges in traditional logistics and transportation systems. Drone delivery presents an innovative solution that has the potential to revolutionize last-mile delivery in both urban and rural areas.
The concept of drone delivery in Nigeria holds significant potential due to several reasons. Firstly, it can address the issue of poor road infrastructure, especially in remote areas, by providing faster and more reliable delivery services. Secondly, drones can navigate through traffic congestion in urban centers, ensuring timely deliveries. Moreover, the use of drones can enhance access to healthcare supplies, particularly in hard-to-reach regions, leading to improved healthcare outcomes.
However, drone delivery businesses also face notable challenges. Regulatory frameworks, including airspace regulations, need to be established to ensure the safe and responsible operation of drones. Additionally, concerns related to privacy and security must be addressed to gain public trust. Furthermore, infrastructure limitations, such as limited charging stations and navigation systems, pose obstacles to the scalability of drone delivery services.
Despite these challenges, several Nigerian companies have ventured into the drone delivery space. Examples include Gididrone Nigeria Ltd, LifeBank, Arone Delivery, and Zipline. These companies have demonstrated successful implementations of drone delivery, primarily focused on medical supplies and blood transportation.
Virtual Reality (VR) Gaming Centers
While the market was valued at 67 million U.S. dollars in 2018, it is expected to rise to 176 million U.S. dollars by 2023, indicating a significant growth trajectory for the VR gaming industry in Nigeria. This projected increase in market value reflects the growing demand for immersive gaming experiences and the expanding customer base of VR gaming centers.
The rising popularity of VR gaming centers can be attributed to various factors. Firstly, the younger generation, which forms a significant portion of the gaming community, has shown a keen interest in exploring new technologies and experiences. Additionally, the increasing affordability and accessibility of VR equipment have made it more accessible to a wider audience.
Successful VR gaming centers in Nigeria have not only attracted gamers but have also served as hubs for social interaction and community building. These centers often organize tournaments and events that foster a sense of competition and camaraderie among players. Moreover, they provide a platform for local game developers to showcase their creations, contributing to the growth of the domestic gaming industry.
As the VR gaming market in Nigeria continues to expand, entrepreneurs in this sector should focus on offering diverse and high-quality gaming experiences, investing in the latest technology, and leveraging effective marketing strategies to attract and retain customers. By doing so, VR gaming centers can seize the opportunities presented by this growing market and contribute to the overall development of the gaming industry in Nigeria.
Waste Recycling and Upcycling
In Nigeria, innovative waste management businesses have emerged as unconventional yet impactful ventures. These businesses play a vital role in addressing the country’s waste management challenges while creating economic opportunities. Waste recycling and upcycling not only reduce the environmental burden but also contribute to job creation and resource conservation.
One notable example is RecyclePoints, a Lagos-based recycling company that incentivizes individuals to collect recyclable waste through a points system. RecyclePoints has successfully encouraged citizens to actively participate in waste segregation and recycling efforts, diverting significant amounts of waste from landfills. According to statistics from the company, over 1,500 metric tonnes of waste have been recycled since its inception, preventing the emission of approximately 1,100 metric tonnes of CO2.
Another example is Wecyclers, a social enterprise that operates in low-income communities, providing waste collection services and promoting recycling. Wecyclers has empowered local communities by offering employment opportunities and generating income from the sale of recyclable materials. With over 17,000 registered households and more than 400 metric tonnes of waste collected monthly, the company has made significant strides in improving waste management and environmental sustainability.
These businesses demonstrate the potential for waste recycling and upcycling to address environmental concerns while creating socio-economic benefits. By emphasizing the importance of waste segregation, raising awareness, and providing incentives, these ventures have successfully changed perceptions and behaviors surrounding waste management in Nigeria.
Customized Sneaker Design
The demand for personalized sneakers is experiencing significant growth in Nigeria. Consumers seek unique and customized footwear that reflects their individual style and preferences. This trend has led to the rise of successful Nigerian entrepreneurs in the sneaker customization business. These entrepreneurs leverage their creativity and craftsmanship to transform ordinary sneakers into one-of-a-kind pieces. They offer services such as hand-painting, embroidery, and customization of materials. This niche market caters to fashion-conscious individuals who value self-expression through their footwear choices. According to industry reports, the sneaker customization market in Nigeria has witnessed a steady increase in revenue, reflecting the popularity of personalized sneakers.
Ethical Fashion Brands
The ethical fashion movement is gaining momentum in Nigeria, driven by a growing awareness of sustainability and ethical practices in the fashion industry. Nigerian brands are actively promoting sustainable and ethical fashion through various initiatives. They prioritize using eco-friendly materials, supporting fair trade practices, and ensuring transparency in their supply chains. These brands embrace craftsmanship, traditional techniques, and social responsibility in their production processes. By combining aesthetics with sustainability, they cater to consumers who prioritize ethical fashion choices. The emergence of ethical fashion brands in Nigeria contributes to the global effort towards more responsible and environmentally friendly practices in the fashion industry. Statistically, surveys indicate that a significant percentage of Nigerian consumers are willing to pay a premium for ethically produced clothing, indicating a demand for such brands.
These businesses not only bring innovation and diversity to the economy but also address emerging consumer demands and societal needs. While challenges such as access to funding and market acceptance exist, opportunities for growth and expansion are abundant. Furthermore, the government’s support and initiatives play a crucial role in nurturing these businesses. From a broader perspective, the rise of unconventional and least common businesses showcases Nigeria’s potential as a hub for creativity, entrepreneurship, and economic development. Embracing and encouraging such ventures will foster a thriving ecosystem of innovation and contribute to sustainable economic growth.