Skip to main content

List of Industries and Companies in Nigeria

list of industries and companies in nigeria

Nigeria is home to over 190 million people.

Not only that, it is also the 7th most populous nation on the planet and the largest economy in Africa.

That's no doubt a great milestone for a country. But, the size of Nigeria doesn't lie in its population alone. Nigeria is home to a vast array of industries and companies in different fields and niches of the economy.

Now, if you intend to know some of these industries that are presently blazing the trail in Africa's biggest economy, this post is for you.

Having a list of the top industries in Nigeria can help your decision in choice of carriers or the types of businesses you can start in Nigeria.

So, here we go...

List of the industries and companies in Nigeria.

1. Food and Agriculture Industry

If you have ever heard about the cliche, farmers are leaders, then you are off on the right track.

The Agriculture industry come on top of the top industries in Nigeria right off the bat.

Of course, the country is blessed with able-bodied men who can effectively farm hectares of land to feed the whole content.

But, that is not the only reason, Nigeria is blessed with arable land and good weather conditions that can support the cultivation of a wide variety of crops.

In fact, Nigeria's economy relied heavily on the cultivation of cash and food crops before the controversial economic revolution caused by the discovery of oil.

The Agricultural industries in Nigeria thrive on both crop cultivation and animal husbandry.

Nigeria's GDP from Agriculture in the first quarter of 2018 stood at N3487312.92 Million.

Building Materials or Construction industry

The construction industry is one of the leading industries in Nigeria. If you call it a money spinner, you won't be wrong after all.

For instance, Capital Expenditure alone accounted for up to 30.7% of Nigeria's 2017 budget, of which works and construction were the most prioritized industries.

Now, even though the construction.industry is gold it is also ruled by the gold spinners.

The construction industries is a sector that has other sub-sectors under it like the real estate, building and road construction, site development and lots.

The construction industry in Nigeria is a great industry to invest in. But there is a caveat - of course, you must have your gold coins in hands.

Healthcare industries

Even though the healthcare industries in Nigeria has its own challenges, it is still a giant industry in terms of its size.

Of course, that owes a lot to Nigeria's giant population.

The healthcare industry in Nigeria is not just limited to the provision if health care system. There are other sectors like health insurance, natural health provision, pharmacy and biochemical industries etc.

Of course, the health industry in Nigeria is a fast booming industry, it is an industry that is under more regulation and monitoring by the National Agency for Food and Drug Administration and Control (NAFDAC).

Due to the challenges and strict monitoring, the healthcare industry is an industry you don't want to venture into without a serious research, business game plan, and strategy.

Now, that's not restricted to Nigeria alone after all.

Information and Telecommunication industry

If there is one industry that is taking ng the world by the storm, then it must be the ICT.

ICT is ruling the world and the rest if the other industry.

It has been projected that by the year 2030, 800 million of industry-workforce are likely to be replaced by robots.

The ICT is the sweeping sweeper, and Nigeria is not exempted.

The boom of Nigeria's mobile industry about just a decade ago has lent a total transformation to other sectors of industries in Africa's most populous black nation.

The ICT industry is as diverse as it can get - even to the size of implementation.

  • The seemingly overnight rise of multi-million dollars communication companies.
  • The common man on the street who nets a couple of thousand Naira a day selling recharge cards and call services
  • Or the guy who makes a good living installing WordPress sites and extensions.

No one needs the Apple Siri to project that the ICT industry will still continue to boom in Nigeria.

And yes, it's a great industry to invest.

Natural resources

Nigeria is blessed with a wide variety of natural resources. No, not even talking about the black gold.

Nigeria has a large deposit of coal and limestone. Then gold, tin, zinc, columbite etc are just some of the natural resources that Nigeria is yet to exploit.

That account for the large size if the natural resources industry in Nigeria presently.

This industry has two arms :

  • The exploration of the raw materials
  • The refinement of the raw materials, production, and distribution of finished or refined products.

Petroleum or Oil and gas industry

Nigeria as a country is well known for the abundant supply of petroleum. Presently the …. largest producer. of petroleum in the world and …… on the continent.

So, it is justifiable to see that the oil and gas sector is one of the largest industries in Nigeria with large and varied sub-industries.

The oil and gas covers industry covers the onshore and offshore exploration, refinement, distribution, and marketing of oil.and petrochemical products.

Presently, this.score is still the engine.oil of Nigeria's economy, having taking over since the country shifted its focus from agriculture during the oil boom.

Additionally, the oil and gas sector is also one of the largest employers of labor in Nigeria - albeit that's a statement that's still subject to controversy.

Services based Companies and Industry

The service industry is one of the largest industries in Nigeria. As an industry, the service industry spans across different sectors of the economy.

That is because the services being rendered cuts across different business niches.

Not only does this industry vary in terms of the fields of life, it also varies in sizes and proportion at which the said services are being rendered to their target audience.

Their target audience is the members of the public, organizations, businesses and even government agencies.

Some of the most booming services based industry sub-sectors in the Nigeria include tourism, professional consultation services, waste management, hotel and hospitality, deliveries and then the media.

Examples of small to medium scale implementations of this industry are the fashion design and tailoring business, car wash.

Utility companies and industry

The utility industry specializes in the delivery and management of daily utilities i.e resources that are used on a daily basis.

Examples of such resources include the pipe-borne water and the electricity.

In the past, the utility industry in Nigerian was under absolute and tight gripped control by the Government - not until a couple of years ago that the Government saw the need for the implementation of the public-private partnership in the distribution and management of electricity in the country.

And of course, that led to the birth of Discos, Nigeria's Electricity Distribution companies.

The utility industry is powered by the revenue it regenerates in the form of monthly charges incurred by millions of Nigerian users.

Final words

As already stated at the beginning of this post. The Nigerian business space is so wide. That owes a lot to the sheer size of Nigeria's spiking population.

Countries like China and the United States of America have been able to take advantage of their huge population size to leave a positive impact on their economic growth.

It has been speculated that Nigeria's population may likely rise to 433 million people by the year 2050.

And the trend may likely continue.

However, having a list of the industries in Nigeria alone is not the goal. But, we do hope this post has shed some light on the opportunities in different industries and nudged you to cash in on the opportunities in these industries.

Of course, to start a business in any industry, the first thing is to know the industries, the opportunities that abound in each industry and the challenges that might likely come up.

Popular posts from this blog

10 Latest Ankara Short Gown Styles and Dresses For Ladies

Ready for these sassy short Ankara styles to blow your mind?

9 Latest Nigerian French Lace Styles and Dresses For Wedding

Howdy fashion geeks! Nigerian french lace styles are some of the most stunning designs of dresses for fashion conscious Nigerians.

9 Nigerian Native Styles for Men That Are Ruling The Trends

Hey fashionable ladies and cool guys! Hasn't Traditional form of dressing in Nigeria come along way?