6 businesses that once made you rich in Nigeria

Once upon a time, you would have been considered fortunate or a very good businessman, if you owned any of these businesses.

Today some would question your sanity if you dared venture into any of these businesses.

Below is a list of businesses once popular in Nigeria for their money making prowess but are now dying or dead.

1. TheCyber Cafe

Cyber cafes once was the toast of aspiring business owners.

The lack of internet connectivity ensured that there was always a queue of people waiting to check their mails, browse, or to chat using hourly tickets earlier purchased.

Today the abundance of cheap smartphones, and ever cheaper data plans has led to the demise of this once ubiquitous business.

ALSO READ: 9 business ideas for University students

2. Photofinishing

The once important red rooms and negatives, have been replaced by memory cards and image editing softwares. No one snaps on film anymore, at least no one I know.

People now take and edit pictures with their phones, and print it if need be, but a vast majority just share them with their friends on a social media platform.

3. DVD Rental (Video Club)

The emergence of the video player gave birth to the business of video renting. As owners of video players found it cheaper to rent videos than buy every new movie that was released.

Now however, people prefer to download and stream videos on their mobile devices.

4. Business Centers/Recharge Card Sales

There was once a time in this country when we payed N50 for a minute call, and could not buy N200 recharge vouchers. Majority of people including the rich guys visited this 'business centers' to make calls.

Today we are charged per second, can buy N100 recharge vouchers, and can even borrow credit. And more and more people are recharging their phones online.

5. Newspaper Publishing

Newspaper publishing is a dying business. Hardly will you find anybody under 30 reading a newspaper. The majority of people that read newspapers are 45 years old and above.

Once this generation passes, the newspaper publishing business will pass away with them.

6. Recordable Devices

Audio Cds, Dvds and Blue Ray discs are all on their way out.

It's much easier to stream, download or transfer files than having to go to the market and buy physical disks. It's cheaper, quicker and mobile.

The speed of communication and the ease with which you can accomplish once difficult tasks, has led to death of many businesses that once boomed, and would be the bane of some businesses currently well now.