Created in 1991, Kogi State is nicknamed “The Confluence State” because it’s the meeting point of the River Niger and River Benue. If you live or you’re an investor who is looking for a state to invest in, we have some of the hottest business opportunities you can venture into in Kogi State.
Kogi boasts of rich iron deposits.
While Kogi State is filled with mineral resources like coal, tin, limestone, tin and petroleum, the major occupation of many rural dwellers in the state is farming and fishing. They cultivate crops like maize, cassava, coffee, yam, cocoa, cashew, and so on.
Cost of living in Kogi
The cost of living in Kogi is affordable if compared with states like Lagos, the Federal Capital Territory (FCT), Abuja or Port Harcourt, Nigeria’s oil-rich state.
Food is cheap, depending on the seasons, and accommodation is affordable too. Hence, you can start your business without having to first gather huge resources for accommodation.
Challenges Of Doing Business In Kogi
Just like in different parts of Nigeria, several challenges hinder the smooth running of business operations in Kogi State. One of the issues a small scale entrepreneur would likely face is poor power supply.
Many times, you will have to spend more money to generate alternative power for your business
Another challenge you may encounter as you run your business in Kogi State is government regulations. Of course, in itself, this is not wrong, as a government is meant to keep businesses in check. However, it is popular knowledge that some of these government regulations make business operations tougher.
In the ease of doing business in Nigeria which was released in 2021, Kogi state ranked 30 on the list. The issue of insecurity might have been one of the indicators that affected the ranking of Kogi. Arm robbery and violent political attacks are some of the issues bedevilling the State.
However, it is important to note that as an investor, you can find a way around some of the problems.
With all the above challenges, there are still investment opportunities in Kogi. Below is a list of business ideas for investors interested in running a business in Kogi State can take advantage of
Iron and Steel Merchant
As Ajaokuta in Kogi is filled with rich deposits of iron. You can build a business around this natural endowment by playing the role of an iron and steel merchant.
This business is a capital intensive one though, as you will have to look for buyers and the right markets (in other parts of the country and beyond) to supply iron and steel.
Food Processing and Packaging Company
You will do well running a food processing and packaging business in Kogi State if you know your way around it with adequate knowledge. It is however necessary to conduct appropriate feasibility studies before jumping on this business.
Mechanized Farming
A good number of places in Kogi have arable land suitable for agriculture. Different important crops are usually cultivated in the state – like yam, maize, cassava, melon, coffee, cocoa, cashew, rice and groundnut. However, it should be noted that these things are usually done by the rural dwellers who still go about doing them manually due to lack of access to funds.
You can get into the scene by running mechanized farming in the state and you will do well. Agriculture is pretty lucrative, and you can always sell your produce beyond the state.
As capital intensive as mechanised farming is, it can be rewarding if you can rent your machinery to some of the rural dwellers who want to venture into farming on a large scale.
Travels and Tourism Company
Kogi State has several tourist centers, and these spots keep attracting people from different walks of life. You can build a business that revolves around this, and you will be handsomely rewarded.
If you have a lot of money, you can go big. But if you are starting small, you can partner with other bigger brands.
Outdoor Catering Service
This business can also properly fly in Kogi, particularly if you are in major towns in the state. Just ensure that you are properly positioned, and you will get good clients who will pay you well for your services. With good structures and connections, your catering firm can also offer corporate catering services to corporate organizations.
Cement Merchant
You can run this from Obajana. This place is where you will find the popular Obajana Cement Factory, which is the biggest of its kind in Saharan West Africa.
Several merchants of cement are usually trooping here from far places to order cement. Now, you will be more advantaged if you run your own cement merchant business close by and be a major supplier to cement retailers around the state.
Shopping Mall
Establishing a shopping mall will be most suitable for the city to enjoy a lot of patronages.
Electronics Shop
People need electronic appliances to make life more pleasurable to them. You can thus consider starting a business where these things are sold in Kogi. If you locate your shop in a good location, you shouldn’t find issues getting constant customers
Party Rental Business
Nigerians are fun-loving people, and the people of Kogi are not an exception. You can start a party rental business, and you will likely have patronizers every week if you are properly positioned.
Music Recording Studio
A lot of young people in the country have the desire to become celebrities by singing. You can thus start a music recording studio where you charge money for their recordings. Only ensure you do this in a major city.
Dropshipping
You don’t need to have a lot of money as the capital before starting a dropshipping business. With the right information, you can simply buy products directly from a supplier and get them shipped to the client that bought the product.
One of the advantages of this is that your market isn’t limited to Kogi. Using the power of the internet, you can venture into this business from anywhere you are in Kogi and reach customers in different parts of the country.
Fashion designing
Women in Kogi, like others in different parts of the country, love to look good. You can operate a fashion centre where they can get nice dresses, and you will make good money helping them look good.
Sell digital products
You can do this from anywhere you are in Kogi. You only need vital things like a laptop (or a good smartphone will suffice) and the internet. E-learning keeps growing, and you can make good money selling digital products to people.
Sell handmade products
You can make good money by creating a business that revolves around selling handmade products. Just look around for products the people will value, and get to work.
Photography
This is phenomenal, as you don’t have to restrict yourself at all. You can have an office where people come for their photoshoot. You can also be invited to events. Also, you can start selling your photos online. There are platforms you can utilize to make money online with your photos – the likes of Getty Images, Shutterstock, iStock, and so on.
Self-publishing books on Amazon
This is another thing you can kickstart irrespective of where you reside in Kogi. You can start publishing books online, particularly on Amazon, and you will earn reasonably well each month. This is one of the best small business opportunities for anyone, as your customers and readers are from different places in the world, and you are paid in dollars.
Freelancing
You can run this from the comfort of your home in Kogi. If you are good with what you do, you shouldn’t have problems getting clients that would pay you handsomely for your service. You can be a freelance writer, programmer, SEO Specialist right at the comfort of your home.
Security Coy
This is capital intensive, and you need to put in place certain important things to operate legally. However, considering the bad state of security, you can run a security coy that provides security personnel and tools to keep people and their stuff safe
Social Media Influencer
You can start this without having too many resources. The world is now on social media. Hence, if you can have the attention of a large following on social media, you will do well converting them to cash by promoting products online.
Setting up a construction company is another business
Recap:
There are several business opportunities in Kogi State, you can venture into any of the ones listed above. You should note that some of them require that your company must be incorporated.
