Oyo state is one of the states that make up the thirty six states in Nigeria. It is located in the south western part of the country. Its indigenes are predominantly known as the Yoruba people. It has its capital as Ibadan and fortunately Ibadan is a premier state and is one of the largest cities in Africa. This is one state that has continued to be one of the strong forces in the south western part of Nigeria because of its rich cultural heritage.
This state is an inland state in the south west as stated earlier and is bounded in the north by Kwara state, in the east by Osun state, in the south By Ogun state, as well as the west partly by the republic of Benin and partly by Ogun state. It really is a great experience to be at Oyo state, as the people of this state are known to be very hospitable people.
Agriculture is one of the main occupation of the people, as it has a very suitable climate for the cultivation of the following crops like; Maize, yam millet, palm produce, cocoa and a host of other crops. This is the reason why there are loads of farming businesses that go on here, so much so that other states are benefiting from it.
If you are looking to relocate to Oyo state, and are looking for the type of business to invest in, then you may consider some of the business opportunities in this article.
10 Small Business Investment Opportunities in Oyo State
Table of Content
1. Food Production Business
Since this is one of the businesses that thrive in Oyo, and a lot of folks are keying into this then you may consider starting this business too. What does this business entail, you may ask? It would require you buying some farm lands, that is if you do not possess any land. You can also consider leasing a land if you do not have the wherewithal to buy a land.
Recharge card business is one of the businesses that thrive majorly in Oyo state. This is because of the high number of people who use mobile phones. It is for that reason that the recharge card business becomes a viable business to start in this state. You may also consider investing in the printing of recharge cards.
There are barbers scattered all around the country; and Oyo state isn’t an exception. You may consider starting a barbing salon. However, you have to be sure that you get a befitting shop, as well as make your shop attractive for people to come in.
4. Phone Repairs and accessories Sales
If you have a penchant for mobile phones, then you may want to consider starting a phone repair business. This means that you must know a whole lot about the different types of phones that exist, as well as the troubleshooting means. You can as well add the sales of accessories to it. One paramount thing to note is where to get the best supplies at the best deal.
Auto repairs business is one business that that have continued to yield profit from time immemorial. In Oyo state there are mechanics scattered here and there and you too can join the competition. You would first be required to get the required training so that you would be a certified mechanic and people can trust you to deliver.
Since cocoa is produced in Oyo state, there has been the emergence of various cocoa processing industries. You too can think to start an industry like this. There are plenty of industries that are into one food processing or the other. You too can consider investing in this business. You may consider a beverage company to start with.
The popular talking drum, as well as some other craft jobs is being produced in Oyo. Those who are in the business know that been consistent with this type of business brings about great success. You can consider investing in this because you are sure to sell these products in other parts of the country.
8. Aso Oke Business
Aso oke is one of the traditional attires of the Yoruba people, and as such you can also find this business thriving in Oyo. As an investor, you may also be required to garner some training on how the art is done. The products got from this venture can even be exported to other parts of the world.
If you have ever been to Oyo before, then you would realize that they sure do know how to do justice to Amala and Ewedu. If you are very good with cooking, and are open to garner other culinary skills then consider having a local restaurant in the heart of town.
There are several garages in Oyo state and these garages have vehicles that tour different parts of the state, as well as outside the state. It is for that reason that you too may look to start a transport business. You can start to invest in this type of business with a fairly used bus or car. You can be sure to make great profit when you are consistent with this.
Now that you have an idea of the type of businesses to likely invest in Oyo, then it becomes important that you know how to go about raising the required start up.
- How to Register a Limited Liability Company in Nigeria in 5 Steps - February 26, 2021
- How to Start a Cement Distribution Company (Dangote, BUA, Ibeto) - February 9, 2021
- Writing a Cement Distribution Business Plan [Sample Template] - February 9, 2021