Where To Invest Money In Nigeria 2023: Top 15 Ways - Pillow

December 14, 2022
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The 15 Best Investment Ideas in Nigeria [2023]

When you want to invest your money, it's necessary for you to comprehend what, where and why you should invest to identify the most rewarding asset type for you. This post covers the best assets to invest money in 2023.



If you want to amp up your financial prosperity, knowing where to invest money in Nigeria is important since making precise decisions will aid you in the long run.

Cultivating good financial habits, such as saving a fixed amount every month, is essential. You may have to reduce your discretionary spending on meals, transportation, and subscription fees to save more. However, investing in high-yield financial instruments is the best way to improve your portfolio and capital.

Nigeria has experienced an improved financial and democratic situation over the last few decades. This has also made the Nigerian financial market one of the biggest in Africa. The federal government has undertaken various thoughtful and pragmatic initiatives to encourage investments across the spectrum.

In today's environment, it's very easy to use your phone to order meals and transfer cash; the same can be done with investments. Investing is a lot easier today than it was a couple of decades ago. There are countless investment opportunities in Nigeria where you can put your money to reap rich dividends.

This post will detail everything you need to know about saving and where to invest money in Nigeria. But before delving deeper into the investment opportunities in Nigeria, let's understand why investing in Nigeria is a sensible decision to make in 2023.

Investment Opportunities in Nigeria

Worth US $441.5 billion, Nigeria has the largest economy in Africa, much ahead of South Africa (US$418 billion). Moreover, PwC estimates that the Nigerian economy is poised to become one of the world's top 10 economies by 2050, surpassing the economies of countries like France, the UK, Germany, and Saudi Arabia.

With a population base of more than 200 million, Nigeria has the resources and workforce needed to help businesses keep flourishing. Several government incentives, such as tax holidays, investment allowances, tax exemptions, and the like, provide opportunities for companies to boost their profits.

Nigeria's significant natural resource wealth makes it the primary oil exporter in the sub-Saharan region, although presently, telecommunication and agriculture have become the primary drivers of the Nigerian economy.

The financial market of Nigeria is amongst the largest in Africa, with a market capitalisation worth over 45 billion. The government has created a conducive environment for PPP projects in Nigeria, attracting several private investments from the United Kingdom.

Now that you know why Nigeria is one of the best places to invest, let's explore where to invest money in Nigeria.

The 15 Best Investment Ideas in Nigeria

1. Real Estate

Real estate is amongst the finest places where investing money may provide the best returns. Since the Nigerian population has been steadily increasing, housing is seeing increased demand. Real estate will be further profitable due to the booming population and the migration trends witnessed in cities like Abuja, Lagos, Port Harcourt, etc.

The areas you can invest in include low-cost housing, shopping complexes, hotels, and material supplies. There are several avenues, such as rentals, land/house flipping, REITs, etc., through which you can invest in this industry and make profits.

2. Treasury Bills

If you're wondering, where to invest your money in Nigeria, treasury bills are among the top investment methods irrespective of the investment amount.

The Federal Government provides short-term debt instruments and terms them with treasury bills. These bills have a higher liquidity rate in terms of the market assets, even though the Federal Government backs them.

Treasury bills are short-term financial securities with maturities within 3 to 12 months. These are Government-backed debt securities and are regarded as safe investments.

You can purchase these bills through Nigeria's primary and secondary markets. Interest rates vary depending on the invested amount, bill tenure, and the type of market it was purchased from.

3. Agriculture

The population in Nigeria is estimated to be above 210 million, which makes it challenging to produce food for the entire population.

Food shortages can come and go, so there is a dependency on imported food. In 2018, the Agriculture Minister of Nigeria stated that the nation spends about $22 billion yearly on food imports.

Since the independence of Nigeria, the government has been trying very hard to reduce the reliance on food imports. As a result, it has provided many incentives. The agriculture bank was formed to aid agriculture businesses with technical support and needed finance.

Countless financial institutions in Nigeria offer monetary support to businesses dealing in agriculture. Agriculture is amongst the most valuable investment opportunities in the country.

Agricultural investments can prove to be lucrative ventures if done right. Several areas of interest here include livestock, crops, farm equipment, transportation and more.

4. Oil and Gas

The oil and gas industry is a significant contributor to the Nigerian economy. Both domestic and international investors can step into Nigeria's oil sector and see their investments rise.

Nigeria is among the biggest oil-producing countries in the globe. The following are some of the key areas where investors can step in to make profits:

  • Pipe-lining
  • Exploitation and exploration
  • Well services
  • Transportation of oil
  • Development of medium-pressure valves, shallow drilling tools, mud-drilling, pumps, etc.
  • Installation and construction
  • Domestic production
  • Marketing of LPG
  • Manufacturing of the valves, regulators, and LPG cylinders
  • Filling plants installation
  • Retail distribution
  • Refining
  • Establishment industries for solvents and chemicals from natural gas
  • Plant establishment for producing petroleum jelly, refined mineral oil and grease

These are some investment platforms to let you profit from the ever-growing Nigerian oil and gas sector.

5. Manufacturing Industry

Nigeria not only imports agricultural products but also goods. Since the economy is on the rise, there is a dire requirement to produce household items internally.

Human resources are readily available, and the costs of hiring are cheap in Nigeria, so investing in the manufacturing industry is an excellent decision.

Investing in the manufacturing sector can create jobs and amplify the economy. The federal government encourages investment in this industry as well.

You can manufacture several things, such as water, food items, telecommunication equipment, fibre cables, tyres, etc. If you are wondering where to invest money in Nigeria, the manufacturing industry might be an excellent bet.

6. Mining

Except for oil, Nigeria's vibrant mining sector is often overlooked. Putting your money and time into areas like mining will be lucrative for a motivated investor.

Most of the mines in Nigeria haven’t been touched yet, which opens a lot of areas for investors to take a look at. The Nigerian government is willing to extend its cooperative hand to people looking to invest in mining.

The following are the common resources which can be mined in Nigeria:

  • Limestone
  • Iron metal
  • Columbite
  • Gold
  • Coal
  • Bitumen
  • Marble
  • Uranium
  • Kaolin

7. Stocks

Most people think that the stock market is limited to the rich only. However, ordinary people can also get into the stock market with as little as N10,000.

There are several ways to earn from the stock market, such as cash dividends, capital appreciation, and bonus issues. Capital appreciation occurs when the price of the stock rises.

'Dividend' is the term given to the profit percentage a company issues to its shareholders. Bonuses are the shares which shareholders acquire for free.

Although stocks can be a bit risky, they are pretty lucrative. If you have extra savings, you can invest in high-growth or high-value stocks. You can think of it as betting on an establishment. You purchase a stock, and when the price rises, you will make money.


8. Logistics

The big cities of Nigeria, like Lagos, have a problem - the population in these parts is intensely concentrated, which makes transportation a challenge.

A large number of people waiting for a bus at a bus stop is a common thing in Nigeria. So, investing in the transportation and logistics industry can be a wise choice.

With the number of people on the road increasing steadily, the need for alternate transportation like trains and water transport is the need of the hour. Moreover, haulage services will be lucrative since there is a high demand for transporting goods from edible to textiles.

9. Bonds

The capital market offers bonds of all shapes and sizes. There are varying coupon prices and rates for bonds. You will get paid bi-annually for bonds. The coupons are calculated with the coupon price and the face value.

It is the best asset class for investors with a steady income. There are several bond types with different characteristics:

  • State bonds
  • Private bonds
  • Federal government bonds

When you decide to sell the bond before maturity, you will get gains on the capital. Otherwise, you will receive coupon streams and face-value payments when the bond matures.

10. Franchises

There are many franchise opportunities for investment platforms in Nigeria. A franchise is the quickest and safest way of launching a business in Nigeria.

Websites like franchisedirect.com contain information about the latest franchise opportunities in Nigeria. They list out the top businesses looking for franchises and the minimum investment to get a franchise. You can also click on 'Request Free Info' to learn about the investment in detail.

11. FinTech

FinTech is an abbreviation for Financial Technology. Technology investments will be some of the best options in the near future since everything we do is dominated by technology.

FinTech investments are possible through cross-border payment systems, lending companies, investment companies, and fundraising or crowdfunding companies.

12. Fixed Deposits

A fixed deposit is the best investment opportunity for peace of mind. If you have a decent amount of money you may not need in the long run, you can invest it in any financial institution offering fixed deposits and profit from it.

Since a fixed deposit is a stable investment option, conservative investors across the world benefit from this strategy. The longer you stay invested in fixed deposits, the better profits you will gain.

13. Mutual Funds

Mutual funds investments require as little as N10,000. Mutual fund refers to a joint investment program hosted by an expert money manager.

The manager acquires money from several people and invests them into financial instruments. It is the best option for those who do not know where to invest money in Nigeria and do not have sufficient market knowledge. However, ensure you read the scheme terms before investing.

14. Equities

Purchasing and selling stocks will be another great way to make money in 2023. Investors with moderate or heavy loss tolerance levels play majorly in equities.

Two significant approaches in this investment type are technical and fundamental analysis, as they help to determine which stock to purchase and when. To invest in equities, you must first approach a stockbroker and open special accounts to trade efficiently.


There are countless investment opportunities in Nigeria which are yet to be explored. Dollar Investment, gas and oil, logistics, etc., are some prime examples of popular investment platforms in Nigeria.

It's necessary to consider your area of expertise and choose the right industry and investment plan to prepare you in case things go south. Visit Pillow to read articles like these and understand dollar investments easily.


1. How to invest NGN10K in Nigeria?

If you have 10,000 Naira, you can invest in mutual funds. With this small seed capital, you can easily find high-quality mutual fund schemes and invest in them to reap rich dividends.

2. What is the best thing to invest in right now in Nigeria?

In Nigeria, the real estate industry is currently the most rewarding type of investment. The credit for this goes largely to the rapidly growing population. Real estate will be an especially profitable investment in big cities such as Abuja.

3. How can I invest fast in Nigeria?

If you want to make quick investments, you can invest in real estate, treasury bills, mutual funds, equities, and oil and gas industries.

4. What can I invest in with 10000 Naira?

If you want to invest 10,000 Naira, you can opt for mutual funds or equities and get started with your investment. With mutual funds, it is not mandatory to have massive industry expertise, and minimal risk is involved.

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