Top10 Small Business Investment Opportunities in Yobe State
Yobe state is one of the 36 states in Nigeria, it is located in the North Eastern part of the country and the state was created on the 27th of August 1991. The capital of Yobe state is Damaturu and it is nick name ‘Pride of the Sahel’. Aside from Damaturu which is the largest city in the state, Potiskum is also another big city in Yobe state. The languages that are widely spoken in Yobe state are English, Hausa, Kanuri and Fulani.
Yobe state shares bordesr with Bauchi state, Borno state, Gombe state, Jigawa state and an international border with the Republic of Niger. The major ethnic groups in Yobe state are the Kanuri people and other minor ethnic groups in the state are Bade, Hausa, Fulani, Shuwa, Ngizim, Kare – Kare, Ngamo and the Bolewa people. Islam is the religion practiced in Yobe state.
The main stay of the people of Yobe state are farming, fishing, cattle rearing, mining, and commerce and trade. Yobe state is notable for cultivating the following crops; beans, groundnuts, cotton and gum Arabic. The state also has large deposits of the following mineral resources; quartz, kaolin and gypsum. Cattle farmers in Yobe state enjoy huge patronage from Nigeria and outside Nigeria; as a matter of fact, the Potiskum cattle market is rated as the biggest cattle markets in West Africa.
Now let us go through the top ten business opportunities in Yobe state;
1. Mechanized farming
Over 90 percent of farming in Yobe state is done manually, hence the low output of agric produce from the state. If you interested in the Agric sector, you can consider starting your own mechanized farming in Yobe state and you are certain of making good returns on your investment. Although, it is capital intensive to go into mechanized farming, but if you have a good business plan, you can access loan from the bank in Nigeria, and also you can get grants from both Federal government of Nigeria and the Yobe state government.
2. Cattle Rearing Business
Yobe state is one of the most ideal places in Nigeria to start a cattle rearing business in, this is because of the numerous clients that come to the state daily to purchase cattle. People from all over Nigeria and some West African countries purchase their cattle from Potiskum cattle market- a market that is rated as the biggest cattle market in West Africa. So, if you are interested in the Cattle business, then you should consider launching your cattle ranch in Potiskum, Yobe state.
3. Cotton Farming
Cotton is one of the notable cash crops that are cultivated in Yobe state. The soil composition is ideal for cotton farming and the market for cotton is large. There are loads of textile industries in Nigeria and neighboring countries that would buy cotton from you if you started your own cotton farm. So, if you are looking to start a business in Yobe, then you should consider starting a cotton farm.
4. Fishing Business
Yobe state is amongst the states in the North that host a large numbers of fishermen. You might engage in full time fishing to make money from this business; all you need to do is to open a standard shop where fishermen can purchase all their fishing implements from. The truth is that if you make you store a one stop shop for fishermen, you will make huge profits from the business.
5. Water Refill Station
Another business that an entrepreneur can successfully launch in Yobe state is the water refill station. The constant shortage of water in key towns in Yobe state makes this type of business highly needed in the state. The truth is that once people can easily get treated water from your water refill station, you are sure going to make profits because water is indeed needed by all household and offices in the state.
6. Haulage Business
Haulage business is yet another highly thriving business an entrepreneur can start in Yobe state. As a matter of fact, if you start this type of business in the state and you only concentrate in helping cattle merchant transport their cattle from Yobe to other parts of Nigeria and West Africa countries, you will sure make good money from the business.
7. Gum Production Business
Gum Arabic is one of the cash crops that are cultivated at a commercial level in Yobe state. If you are looking for a production business to start in Yobe state, you can consider starting your own gum production business in Yobe state. The fact that you are going to get your main raw material – gum Arabic at a very cheaper rate in Yobe state makes the state ideal for this type of business. Proximity to source of raw materials is what investors most look out for before setting up their factory.
8. Transportation Business
Transportation business is another business that an entrepreneur can start in Yobe state. Although, fewer people travel to Yobe state compare to those who travel to other Northern states, but people from Yobe travel to other states and that should be your target. You can also engage in intra state transportation in Yobe state.
9. Vet Clinic
If you are a vet doctor looking for an ideal state to launch your vet clinic, then you should consider launching it in Yobe state. The fact that Yobe state is home to the largest cattle market in West Africa means that the services of Vet doctors will be needed in the state.
10. Consignment Shop
Although some public commentators consider Nigeria to be a dumping ground for second hand goods, but the truth is that, people who buy these second goods need them to satisfy their need. If you are looking for a business to start in Yobe state, you can consider starting your own consignment shop.