unique business ideas nigeria

38 Unique and Profitable Business Ideas in Nigeria ( 2023)

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Are you searching for the right business idea in Nigeria? Are you an aspiring entrepreneur looking for lucrative business ideas in Nigeria?

Do you need a business in which you can invest your money with the possibility of good returns? 

In this article, I will explore some of the top business ideas in Nigeria that have the potential to evolve into successful ventures.

Finding the right business idea that is both innovative and profitable can be a daunting task. 

Whether you are a seasoned entrepreneur or a first-time business owner, this guide will help you kickstart your entrepreneurial journey in Nigeria. 

Let’s dive in…

38 Brilliant Business Ideas in Nigeria

1. Pure Water Business

Starting a pure water business in Nigeria is a smart move. 

You know how important clean and safe drinking water is, right? 

Well, in Nigeria, that’s a big concern for many people. Pure water sachets are like a lifesaver – they offer affordable, convenient, and reliable drinking water. 

With the population growing and urban areas expanding, the demand for clean water is on the rise. 

Nigerians are always looking for trustworthy sources of drinking water, and that’s where your pure water business comes in. 

Plus, the production costs can be relatively lower compared to other bottled water options. 

2. Grasscutter/BushMeat Farming

There’s a high demand for bushmeat in Nigeria and other parts of the world, but there’s little supply of this delicacy. 

To get started, begin by conducting thorough research to understand grasscutter farming techniques. 

Develop a solid business plan that outlines your goals. 

Source healthy grass cutters and provide them with optimal care and nutrition. 

Next, focus on building a strong brand that reflects quality and sustainability. 

By adhering to these steps, you can establish a thriving grasscutter farming or bushmeat business that caters to demand. 

This business can be started with minimum capital.

3. Gum Tree Business

Starting a gum tree business in Nigeria presents an intriguing opportunity. 

Gum trees, also known as eucalyptus trees, offer a wide range of uses, making this venture potentially lucrative. 

One thing I like about this business is that it has super low competition. 

We use rubber for a lot of things in Nigeria, but very few people know where this rubber is obtained. 

Gum trees can be harvested for their timber, essential oils, and other valuable products. 

Essential oils have various applications in cosmetics, aromatherapy, and medicinal products. 

As you establish your gum tree business, focus on creating a reliable supply chain for your products. 

By understanding the market demand and delivering high-quality products, you’ll surely find success.

4. Egg Delivery Business

Eggs are a staple in many Nigerian households, and ensuring a convenient and reliable supply can be a valuable service. 

To get started, establish relationships with local poultry farms to source fresh eggs consistently. 

Develop a user-friendly ordering and delivery system, allowing customers to easily place orders through an app or website. 

Focus on efficient packaging to ensure the eggs arrive intact and in good condition. 

By offering timely and dependable egg delivery services, you can fill a practical need in the market and build a loyal customer base. 

Remember, in Nigeria, convenience and reliability can go a long way in establishing a successful business.

5. Loan Office Business

Have you heard of the saying that goes, “the more value you provide to people, the more money you make?” 

Well, imagine the money you can make if you’re in a position to help people with loans in this challenging economy. 

Your loan office can play a crucial role in providing funds for various purposes such as personal loans, business loans, and emergency funds. 

Effective communication about repayment schedules and expectations is vital to maintain positive relationships with borrowers. 

Promote your loan office through community outreach, online platforms, and partnerships with local businesses.

Learn about 7 Instant Loan without BVN in Nigeria

6. Ice Fish Business

The Frozen Fish Business is a compelling venture to consider in Nigeria for several key reasons.

Firstly, Nigeria has substantial demand for fish as a significant dietary protein source.

This demand is consistent and spans across different regions and demographics.

Secondly, due to the perishable nature of fish, frozen fish plays a vital role in extending its shelf life and maintaining its quality.

By providing frozen fish, you contribute to food security and reduce post-harvest losses.

In conclusion, the Frozen Fish Business is a strong business idea in Nigeria due to the consistent demand for fish.

7. Keke Spare Parts Business

Keke (tricycle) transportation is a widespread mode of transit, and the demand for spare parts is constant due to wear and tear.

As a result, a Keke Spare Parts Business addresses an essential need in the country’s transportation sector.

Learn How to Start Keke Spare Parts Business in Nigeria

Due to bad roads, Keke operators require regular maintenance and replacement parts.

The business can be relatively easy to enter, especially if you establish connections with reliable suppliers and understand the market demands.

Basic knowledge about Keke spare parts, their compatibility, and a willingness to learn about the market dynamics can also be advantageous.

8. Livestock Farming

The country’s growing population and demand for protein-rich food make livestock farming a significant and rewarding business in Nigeria.

Nigerians have a strong preference for animal protein, including meat, milk, and eggs.

Livestock farming allows you to tap into this consistent demand.

With proper management and adherence to quality standards, you can tap into local markets and even explore exporting livestock products to neighboring countries.

Farming is a highly promising business idea in Nigeria due to the country’s fertile land, large population, and increasing demand for food products.

To succeed in farming, you would need to offer services such as:

• Crop cultivation,
• Raising livestock for meat and other products,
• Engaging in agro-processing and distribution,
• Integrating modern agricultural practices and technology, and
• Efficiently managing the supply chain to ensure products reach consumers in optimal condition.

The amount required for farming can vary based on the type of farming.

Crop farming and livestock farming might require moderate to high capital for equipment, land, and animal purchase.

However, certain forms of farming, like poultry, snail farming, or beekeeping, could potentially be started with relatively lower capital.

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10. Logistics and Transportation

The demand for efficient movement of goods and people is on the rise, offering substantial potential.

As of 2022, 76 million Nigerians bought something online.

This meant that somebody took these products to them.

If you put yourself in a position where your company is the one doing the delivery, you’ll be making a lot of money for yourself, no matter where you are in the country.

But the best places to run this business are developed cities like Lagos, Enugu, Abuja, and Port Harcourt.

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11. Teach People How to Make Money Online

The country’s increasing digital literacy, coupled with a strong desire to explore diverse income streams, makes this venture particularly appealing.

As Nigerians become more tech-savvy, there’s a rising interest in learning how to harness online platforms for income generation.

The demand for guidance and knowledge on online money-making methods, like freelancing, affiliate marketing, e-commerce, and content creation, is palpable.

The services required involve creating structured courses covering various online money-making techniques.

An advantage is that this business can commence with relatively low investment.

Initial expenses may encompass website development, course creation tools, video equipment, and marketing.

12. Buy and Sell on Facebook Marketplace

Getting into buying and selling on Facebook Marketplace is a smart move.

I recently sold an old fridge at my place, and guess where I sold it? On Facebook.

This was what gave me the idea that you can make a lot of money just by buying and selling on Facebook.

You know how folks are glued to their smartphones and the internet, right?

Well, that’s where the action is happening, and Facebook Marketplace is a hotspot for buying and selling stuff.

Nigeria’s online game is strong, with more people hopping onto platforms like Facebook to find things they want.

So, setting up a buy-and-sell gig on Facebook Marketplace is like bringing the market to their fingertips.

Here’s the scoop on what you’ll be doing:

You’ll find cool products to sell, like gadgets, clothes, or whatever tickles your fancy.

Then, you snap some great pics, describe what you’re selling in a way that makes folks go, “I want that!”

Put it up on Facebook Marketplace.

When folks show interest, you’ll be their go-to person.

All you need is your trusty smartphone, good photos of your stuff, and a way to meet or deliver the goods.

13. Selling Iron Sheets, Bars, and Pipes

Selling iron sheets, bars, and pipes is a solid business idea that can gain traction.

These materials are essential for various construction projects, making your venture a valuable player in the country’s development landscape.

As for capital, you’d need to invest in building relationships with reliable suppliers.

While it might require a chunk of money, the demand for construction materials in Nigeria makes this a worthwhile endeavor.

14. Import Baby Shoes

Importing baby shoes from Cotonou to sell in Nigeria is a smart move.

Parents in Nigeria are always seeking stylish and comfortable baby shoes.

By sourcing from Cotonou, you’ll be buying cheaper than you could ever buy in Nigeria.

For capital, you’d need funds for orders, transportation, customs, and marketing.

The profit potential in Nigeria’s baby products market makes the investment worthwhile.

Imagine being the go-to person for trendy and trustworthy baby shoes.

If you’ve got an eye for design and business, this idea could be your perfect fit!

15. A Subscription-Based Car Wash

Nigeria’s streets are filled with cars, and car owners want their vehicles sparkling clean.

To get started, find a spot near busy areas or residential communities.

Accessibility is key.

Get the necessary car wash equipment and consider water-efficient technologies to keep things eco-friendly.

Create subscription packages that offer different levels of cleaning.

A quick wash,

A deep clean, you name it.

The good news is that you don’t need a fortune to start.

As you attract regular customers with your subscription plans, the money coming in can cover your costs and more.

16. Digital Marketing for Local Businesses

Starting a digital marketing business in Nigeria is a very good business idea.

Local businesses in Nigeria are on the lookout for ways to reach more customers and stay competitive.

This is where your digital marketing skills come into play.

By helping them navigate the online world, you’re providing a valuable service that can significantly impact their growth.

Here’s how to start:

Brush up on digital marketing strategies, including social media, search engine optimization (SEO), email marketing, and online advertising.

You can learn all these on YouTube. If you can find a mentor, even better.

Decide whether you want to focus on a specific industry, like restaurants or fashion stores, or offer a broader range of services.

Starting a digital marketing business doesn’t have to break the bank.

You’ll need to invest in tools for managing social media, SEO research, and possibly some advertising to promote your services.

While it might require a bit of upfront investment, the returns can be substantial as you build a loyal client base.

17. Pet Services

A pet services business in Nigeria is not only a fun venture but also a smart one with plenty of room to grow.

Here’s why it’s worth a closer look:

Nigeria’s pet scene is booming , and pet owners are seeking quality services.

Whether it’s pet grooming, walking, or boarding, there’s a growing demand for these services.

Your pet services could range from:

• Grooming: giving those pampered pets a stylish makeover,
• Dog walking that gets those tails wagging,
• And don’t forget about pet boarding.

When people need a reliable place for their furry friends to stay while they’re away, your business could be the answer.

Getting your pet services off the ground isn’t as tough as it seems.

First, you’ll need a great location, especially in pet-friendly neighborhoods or areas with good foot traffic.

Invest in top-notch equipment and a cozy atmosphere that’ll make pets feel right at home.

While there’s some upfront cost involved, it’s not sky-high.

You’ll need funds for setting up a welcoming space, equipment, and possibly marketing.

The beauty of this venture lies in the potential for consistent income.

Pet owners tend to be loyal when they find a service that truly cares for their pets, and that loyalty translates into a steady stream of happy customers.

18. E-commerce

Ready to dive into the world of business in Nigeria?

E-commerce is your ticket. 

The country’s thriving online shopping culture opens doors to a diverse range of products and services.

Setting up an e-commerce store lets you reach a broad audience of online shoppers.

Your virtual storefront operates around the clock, capitalizing on Nigeria’s growing interest in online shopping.

The investment needed is reasonable, covering website setup, product sourcing, and marketing.

19. Food Delivery for Busy Professionals

I have a friend whose business is to cook exotic meals like Nsala Soup and Semo, J ollof Rice , etc., and deliver them to offices of very busy people.

She makes a lot of money doing this business.

In Nigeria’s fast-paced lifestyle, delivering ready-to-eat meals to busy professionals is a lucrative business idea.

Examples of busy professionals are:

Your services would involve preparing a diverse menu of nutritious and delicious meals.

The hustle and bustle of urban life means that delivering these meals directly to workplaces or homes is a sought-after convenience.

Check out: 16 Best Delivery Companies in Nigeria

20. Personal Fitness Training

While things may seem difficult in Nigeria, more and more people are getting obese.

As a personal fitness training business, your services would revolve around designing personalized fitness programs, guiding clients through workouts, and providing nutritional guidance.

The demand for fitness training spans from weight loss to muscle building and overall well-being.

To begin, you’ll need fitness certifications, basic equipment, and a space for training.

By catering to the health-conscious crowd, you’re tapping into a market that values expert guidance on their journey to better health.

21. Second-Hand Clothing Store

Another good business idea to go into in Nigeria is to sell second-hand clothing.

That’s Okrika. To make money in this business, you must go for a selection of gently used clothing, shoes, and accessories.

By offering quality second-hand items at affordable prices, you’re tapping into a market segment that appreciates unique fashion finds.

For this business, you’ll need a well-located storefront and a good eye for selecting fashionable items, and effective marketing strategies.

22. Organic Beauty Skincare Line

With the rise in demand for clean and natural beauty products, you can position your business to cater to consumers seeking healthier options.

There’s a lot of bad products in the market today and women are wary.

But to make money in this business, your product range would encompass a variety of skincare products made from organic and natural ingredients, free from harmful chemicals.

However, starting an organic skincare line requires careful formulation, sourcing of quality ingredients, and creative packaging.

By tapping into the desire for toxin-free beauty routines, you’re entering a market that values authenticity and natural goodness.

23. Virtual Reality Arcade

Setting up a virtual reality (VR) arcade is an exciting venture in Nigeria’s tech-savvy landscape.

With the growing fascination for immersive experiences, offering a VR arcade can provide a unique form of entertainment.

Starting a VR arcade requires investment in VR equipment, space setup, and a variety of VR experiences.

As curiosity about VR continues to rise, your arcade can be a hub for tech enthusiasts and curious explorers.

In Nigeria’s evolving tech scene, your VR arcade can be a gateway to limitless experiences.

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24. Home Security Services

Offering home security services is a vital business idea in Nigeria’s safety-conscious society.

With concerns about personal security on the rise, providing comprehensive home protection solutions can offer reassurance to homeowners.

Your services would include installing and monitoring security systems such as alarm systems, surveillance cameras, and access control.

Starting home security services involves investing in security technology, training, and building partnerships with security equipment suppliers.

As individuals prioritize their safety, your services can play a pivotal role in creating secure environments.

25. Smart Home Installation

What is a smart home?

These are homes where you can open your curtain at the click of a button.

You tell your lights to come on and off with voice commands.

Embracing the trend of smart home installation in Nigeria is a brilliant decision.

The concept of a smart home is gaining traction in Nigeria.

Smart homes offer convenience, security, energy efficiency, and a futuristic living experience.

Nigerians are looking for ways to simplify their lives and manage their homes remotely.

This makes your smart home installation business perfectly positioned to cater to these needs.

While the initial investment might seem substantial, the potential return on investment is considerable as smart homes can increase property value.

Your smart home installation business addresses the desire for advanced living experiences, making it a promising venture in Nigeria’s evolving market.

26. Visa Process Service

Venturing into the Visa Process Service business in Nigeria is a strategic move with great potential.

Think about how crucial seamless international travel is, right?

Well, in Nigeria, navigating the complexities of visa applications is a daunting task for many individuals.

Visa process services act as travel enablers – they provide guidance, support, and expertise in securing visas for various destinations.

Given Nigeria’s global diaspora and the JAPA movement, the demand for hassle-free visa processing is on the rise.

Nigerians are actively seeking reliable sources to help them navigate the maze of visa applications.

That’s where your Visa Process Service business comes into play.

27. Natural Food Processing and Packaging

Consider how much emphasis is placed on healthy and organic food consumption nowadays.

In Nigeria, the availability of convenient, high-quality natural food products is limited.

If you go to the market during tomato season, you’ll find a lot of rotting tomatoes.

It’s the same with almost every perishable good in the country.

In such an environment, natural food processing and packaging can be a game-changer.

The demand for organic and minimally processed foods is escalating.

Nigerians are actively seeking trustworthy options for wholesome, ready-to-eat foods.

If you put yourself in a position where you provide this service, you’ll make a lot of money.

Traditional Nigerian ingredients and recipes can be combined with modern processing techniques to create unique, flavorful products.

28. Palm Oil Business

Delving into the world of the Palm Oil Business in Nigeria is like tapping into a rich, golden opportunity.

Palm oil is a cornerstone of traditional dishes in Nigeria.

A Palm Oil Business can be a bridge between tradition and modern demand.

With Nigeria’s lush palm groves and the increasing interest in natural, unprocessed foods, the demand for authentic palm oil is on the rise.

Nigerians, whether at home or abroad, are seeking the genuine flavors and nostalgia associated with palm oil, and this is where your Palm Oil Business comes into play.

You can find out how to start a palm oil business here.

29. Block Industry

Starting a Block Industry business is an excellent idea in Nigeria due to the ongoing construction activities across the country.

Blocks are a fundamental building material required for various projects.

It’s important to note that the expenses largely depend on the scale of your operation and the equipment you choose to use.

Setting up the machinery for block production can be a significant cost, but you’ll make money given the consistent demand for blocks.

To succeed in the Block Industry business, focus on a few key factors.

Firstly, ensure the quality of your blocks is top-notch.

Consistency in size, shape, and strength will make you stand out in the market.

Secondly, consider sustainable practices in your operations to reduce costs and minimize waste.

Finally, establish strong relationships with builders, contractors, and developers to secure a consistent customer base.

If you manage to do all these, you’ll be able to position yourself well in this industry within a few years.

30. Bakery Business

With a growing population and a love for baked goods, the demand for fresh and delicious treats is high.

While setting up a bakery requires equipment and ingredients, it can be relatively affordable compared to some businesses.

Bakeries are profitable, as people are always looking for tasty treats, from bread to pastries.

In summary, a Bakery Business offers a chance to tap into a hungry market.

With careful planning and attention to detail, you can turn it into a successful and satisfying venture.

31. Importation of Used Items

Nigeria’s market has a demand for affordable, quality products, and importing gently used items can cater to this need.

The most popular items to import are:

• Kitchen utensils,
• Bicycles and toys,
• Clothes, and
• Electronics.

The startup cost of this business can vary based on the type and quantity of items you want to import.

By sourcing items at a lower cost and selling them at competitive prices, you can generate healthy profit margins.

A summary of how to start is to research what products are in demand, ensure the items are in good condition, and navigate customs and shipping regulations.

32. Real Estate Business

Of all the businesses mentioned in this list, the real estate business is the most popular and profitable.

While the upfront costs can be significant, real estate offers long-term value and potential for substantial returns.

Real estate investments can yield rental income and capital appreciation, making it a lucrative avenue for wealth building.

An added advantage is that the Real Estate Business provides a chance to capitalize on Nigeria’s evolving property landscape.

By making informed investments and fostering strong relationships, you can navigate this unique market and make a lot of money.

33. Pop Cement Business

Starting a Pop Cement Business in Nigeria is an excellent business idea due to the country’s thriving construction industry.

Entering this business is relatively straightforward, especially when you establish strong supplier relationships and efficient distribution channels.

In terms of profits, the high demand for cement allows for competitive pricing, which can lead to substantial profit margins over time.

The investment required for starting a Pop Cement Business can vary based on factors like scale and location.

Costs may include purchasing cement in bulk, setting up storage facilities, transportation, and marketing.

Check out: Can I start a cement business with 200k?

34. Rental Services Business

Diving into the world of Rental Services for Parties in Lagos is like becoming the ultimate party magician.

You’re the one who makes every event sparkle.

A Rental Services business isn’t just about renting chairs and tables; 

it’s about transforming spaces into immersive party experiences.

With Lagosians’ love for celebrating milestones, big and small, the need for accessible, high-quality party rentals is on the rise.

People in Lagos are searching for a convenient way to create Instagram-worthy parties that leave lasting memories.

That’s where your Rental Services for Parties business takes the spotlight.

Collaborate with local decorators and planners to create themed wonderlands that take parties to the next level.

35. Exportation Business

Starting an exportation business in Nigeria is a lucrative venture.

Nigerians in the diaspora are seeking local and natural products like:

• Breadfruit,

But they have no idea where to find these items.

Very recently, I watched a video on YouTube about the exportation business.

In that video, the creator talked about the embargo that has been placed on the exportation of Nigerian products due to the inability to follow procedures.

He talked about how Nigerian products are often exported with sand in them.

Wherever there is incompetence like this, there are also opportunities.

To be on the opportunity side, you have to identify all the things people are failing to do or the things they are doing wrong.

Do them right and start making money. It’s that simple.

36. Food Supply

Starting a Food Supply Business in Nigeria is a strategic and rewarding endeavor.

Profits in the food supply industry are substantial considering the unceasing demand for diverse food products.

In a nutshell, the food supply business taps into Nigeria’s inherent love for food and offers a chance to cater to a diverse market.

37. Wallpaper Business

Starting a wallpaper business in Nigeria can be a promising venture due to several reasons.

Wallpapers are becoming increasingly popular for their aesthetic appeal.

The demand for interior decoration and home improvement is growing in the country. 

With a growing middle class and urbanization, more people are investing in their homes.

Offering a wide range of designs, quality products, and excellent customer service can help you stand out in the market.

You’ll be able to cater to the diverse preferences of Nigerian consumers.

38. Dry Cleaning/Laundry Services 

Busy career professionals barely have the time to manage their laundry. They are often very grateful when you offer to do it for them. 

Dry cleaning and laundry service is one good business idea in Nigeria that is very profitable.

There are so many laundry services spread all over the country. Ensure you set up your own in an area with little competition.

Get the necessary materials, soaps, and detergents used in the process. The beauty of the laundry service business is that it requires low capita l to start. 

Which Business is the Most Profitable in Nigeria?

Certainly, here is a list of some of the most profitable industries in Nigeria:

• Oil and Gas
• Telecommunications
• Banking and Finance
• Real Estate
• Agriculture
• Consumer Goods
• Entertainment and Media
• E-commerce and Technology

Which Business is Trending in Nigeria?

Based on the search results, several businesses are currently trending in Nigeria.

The non-oil sector is contributing to the growth of the country’s GDP, and some of the fastest-growing sectors in Nigeria in 2022 include the industrial sector, retail sector, and livestock farming.

What is the Best Business to Start in 2023?

The best business to start in 2023 in Nigeria would depend on various factors, including the entrepreneur’s skills and interests, market demand, competition, and available resources.

However, some of the most promising business ideas for 2023 in Nigeria include 

• E-commerce, 
• Renewable energy, 
• Health and wellness, and 
• Digital marketing
• A restaurant
• A grocery store
• A transportation company
• A manufacturing company

Also Read: 14 Profitable Businesses You Can Start With 70K in Nigeria

What Business Can I Start as a Student in Nigeria?

Starting a business is never easy; there are many hurdles to overcome and requires lots of patience. Businesses need you to have the proper knowledge, attitude, capital access, and more.

Business students can start in Nigeria with little or no investment. These businesses are ideal for students because they don’t require a lot of money to get started and run from home.

• Freelancing
• Content creation
• Social media management

Before you Go

Nigeria offers a diverse range of lucrative business opportunities across various sectors. 

It’s essential that you assess your strengths, consider market trends, and leverage available resources to make informed decisions. 

Whether you choose to venture into farming businesses  or explore the potential of digital marketing, the key lies in diligent planning, adaptability, and a commitment to providing value.

If you have any business ideas or great opportunities in Nigeria, let me know in the comment section!

Enjoyed this post on Lucrative Business Ideas in Nigeria ? Check out these:

• 12 Super Tips for Starting a Popcorn Business in Nigeria
• How to Start POS Business in Nigeria
• 7 Powerful Steps to Starting an Event Planning Business in Nigeria
• 13 Vital Tips on How to Start a Beauty Product Business in Nigeria
• How to Start Keke Spare Parts Business in Nigeria (Tips for Success.)
• How to start a wallpaper business in Nigeria (The Complete Guide)
• How to Start Ice Block Business in Nigeria
• Step-by-Step Guide to Starting a Successful Palm Oil Business in Nigeria
• How to Start a Frozen Food Business in Nigeria (The Ultimate Guide)

Mina is a personal finance writer and entrepreneur with a deep love for technology in the business world.

She is not only a successful, tech-savvy businesswoman but also a dedicated mentor, guiding aspiring entrepreneurs in Nigeria.

Explore her work and be inspired by her journey of leveraging tech innovation for business success in Nigeria.

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The 72 Best Business Ideas To Start In Nigeria [2024]

Interested in starting a business in Nigeria in 2024?

We put together 72 of the best businesses you can start in Nigeria today.

In this list of ideas, you can find:

• Home-based businesses to start in Nigeria
• Profitable online business ideas
• Unique business opportunities for Nigeria
• Low investment business ideas (under $5k to start)
• Easy businesses you can start in Nigeria today

For each business idea, we’ll show you real-world examples, revenue expectations for each idea, + a step-by-step on how to start your small business in Nigeria.

Here's the full list:

1. Start a marketing agency

Marketing agencies can be a great option for businesses looking to advertise in different ways. For businesses, hiring a marketing company can help them achieve success as they don't have to spend money on employees or needed equipment. Marketing agencies are not inexpensive and there are many different variables that come into play when deciding which one is the best fit for your business.

You want to start a marketing agency, but don't know where to begin. You're not alone, there are thousands of entrepreneurs across the globe that have the same ambition. Luckily for you, compiled a list of how other agencies were able to grow their agency and scale effectively.

How much you can make: $1,300 — $465,583,333/month

How much does it cost to start: $1,000 (?)

How long does it take to build: 36 days (?)

This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.

2. Start a custom prints business

Custom print businesses often focus on printing everything, including business cards, photos, and even custom T-shirts.

To start an online custom prints business, choose a niche to help your business stand out and attract the right target audience. Then, focus on producing quality prints of different sizes, materials, and designs. You may hire designers online or search for designs in online design communities. Then, validate the designs before you begin mass production. Finally, set up an online store, and launch the business.

Remember that with the growth in popularity of selling custom prints, expect to face stiff competition. Therefore, you should market your custom prints on social media to maximize your reach.

How much you can make: $3,700 — $3,000,000/month

How much does it cost to start: $3,000 (?)

How long does it take to build: 365 days (?)

How a Nigerian-based online printing business servicing over 5,000 active customers generates an average $25,000 monthly revenue and a net profit of 20%, with a monthly order fulfillment of approximately 500 and 45% YoY growth.

3. Start a niche investment platform

A niche investment platform is a custom-tailored online exchange that deals with alternative asset classes such as collectibles, cryptocurrencies, real estate, or athletic prospects.

As a founder of such a platform, you can make use of modern technology to create transparent trading ecosystems that cater to specialized investors.

You can provide flexibility around portfolio combinations, which will help you build an exclusive user base.

This, in turn, will provide recurring revenue through transaction fees and premium subscriptions.

For those seeking alternatives amid volatile stock markets, a niche exchange offers asset diversification to brokers and traders who have a passion for fine wine or up-and-coming athletes.

How much you can make: $7,500 — $100,000/month

How long does it take to build: 200 days (?)

Mythic Markets is an investing platform that turns high-value, geeky assets into stocks that almost anybody can buy, with 123 investors participating in their $90,000 Black Lotus IPO.

4. Start a barber shop

Are you passionate about men’s grooming and looking to start a low-investment business with a high-profit margin? A barbershop can be a great business idea since it will never hit a low a season. Men and boys always look for grooming, no matter how bad the economy is.

Therefore, starting a barbershop can be a profitable business venture.

How much you can make: $125,000/month

Antonio Camilleri built Antonio's Barber Shop from a small two-chair operation to two locations servicing over 250 daily clients and €1.5M in annual revenue with a product line generating a 30% profit.

5. Start an exterior home cleaning service

Exterior home cleaning washes away dirt, dust, and grime accumulation from exterior walls, windows, and sometimes, even the roof.

The global cleaning services market is growing rapidly owing to the rising awareness about the importance of hygiene and increased concerns about occupants’ wellbeing.

With the acceptance of home cleaning services on the rise, starting an exterior cleaning service can be a good business opportunity.

How much you can make: $30,000 — $60,000/month

How long does it take to build: 120 days (?)

Aiming to be environmentally responsible and customer-focused, Nicholas Ciano's exterior home cleaning company averaged around $20,000/month after incorporating all the aspects he liked with a previous employer, so he set out to do it better with a small advertising budget and a truck, offeringspecials and discounts for first-time customers as well as offering a 100% satisfaction guarantee with all services.

6. Start an art business

Starting an art business can be a great idea if you have a passion for art.

You’ll be able to work on your schedule, set your prices, and do something you love—while supporting yourself or even making money!

There are so many different avenues available to you as an artist-entrepreneur right now—from selling your work online (on sites like Etsy), through galleries or museums, or even at craft fairs and flea markets.

How much you can make: $876 — $415,000/month

How much does it cost to start: $2,000 (?)

How long does it take to build: 60 days (?)

Innerglow Art is a successful custom abstract painting business that incorporates scripture and personable connection with buyers to produce beautiful and unique artwork.

7. Start a screen printing business

How much you can make: $8,000 — $80,000/month

How long does it take to build: 205 days (?)

This case study features an entrepreneur who started a screen printing company with no financing or investors, and despite struggling for the first few years, was able to grow his business to hit $80,000 in revenue in October 2018 and is set to hit $1 million by the end of 2019.

8. Start a shipping company

A shipping company can be a great business to start. You can get the support and training that you need to run a successful small business. You may already have some of the resources at hand. This could include what you need to transport goods and a vehicle or two that you can use to get these materials from point X to point Y.

Shipping is a crowded industry. Starting your own shipping company isn't as hard as it used to be. With the explosion in eCommerce, there's an increasing demand for small package shipping. Becoming a shipping company entrepreneur has its rewards. Shipping is an area where there's a lot of potentials to earn bounties, it serves as a good source of income.

How much you can make: $20,000 — $2,400,000/month

How long does it take to build: 180 days (?)

Nationwide Auto Transportation ships approximately 4,000 vehicles per month and has served more than 50,000 customers, offering custom services such as help for clients who cannot find suitable carriers for their vehicle.

9. Start a woodworking business

While many see woodworking as a hobby to pass the time, it is a profitable blue-collar business with growth potential. If you are skilled, passionate, and looking for a blue-collar side hustle, consider starting a woodworking business.

Starting a woodworking business allows you to work from home. Besides, you can scale the business easily and enjoy unlimited earning potential. Some opportunities you can go for include building custom wood pieces, teaching others about woodworking, starting a woodworking blog, and flip furniture.

How much you can make: $1,000 — $1,600,000/month

How long does it take to build: 204 days (?)

Time commitment per week: Min. 5 hours/week

Sasha Weekes, owner of Timber Grove Studios, turned her fine arts and cabinetmaking education into a successful home-based woodworking business that grew from a side project to netting 20-50% profits month-to-month and up to $10,000 in sales during peak periods through Etsy, with her company's growth continuing to increase through other social media outlets.

10. Start an online jewelry store

The online jewelry store industry has been growing rapidly. More and more people are buying cheaper jewelry online because it is easier and has a much more extensive selection.

The United States jewelry market was valued at about $76B in 2020 , and diamond is considered to be the most valuable and lucrative among all forms of jewelry.

If you’re considering starting an online jewelry store to tap into this market, it’s crucial to choose the right e-commerce platform that can support your business needs and enable seamless transactions with your customers.

A great platform can help you showcase your products, manage your inventory, process payments securely, and provide an enjoyable shopping experience to your customers.

How much you can make: $1,000 — $833,333/month

How much does it cost to start: $7,500 (?)

Taylor & Hart CEO Nikolay Piriankov tells the story of the company's journey from a diamond trading business to an award-winning, disruptive e-tailer of custom-designed, ethical engagement rings and fine jewelry, offering a bespoke design service through specifically developed technology online and instore, and growing to £4-6M in annual revenue.

11. Start an affiliate marketing business

Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.

To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.

How much you can make: $500 — $773,000/month

How much does it cost to start: $500 (?)

How long does it take to build: 55 days (?)

Bar Games 101 is an authority website about classic bar games with over 200K monthly visitors and revenue over $4,000 for the month of August, achieved through consistent publishing of researched articles and outsourcing by the founder.

12. Start a mobile photography business

Want to start your own photography business? You're not alone. With the rise of social media and photo-sharing, blogging, and online retailing, it's never been easier to start making money behind your camera.

There are photographers shooting weddings, creating images for ad campaigns, freelancing for magazines, touring the world, taking photographs of destinations — the list is endless!

To start mobile photography in Nigeria, research the target audience and determine which specialization area is more lucrative. Invest in high-quality, professional cameras, lenses, and a computer with professional software photo-editing software.

How much you can make: $2,000 — $500,000/month

How much does it cost to start: $5,000 (?)

Photobooth Supply Co. offers a profitable business opportunity through their sleek and portable photo booths, with up to 97% satisfaction rate and a focus on customer experience, in a fast-growing event industry where photo booths are exploding.

13. Start a graphic design business

Graphic designers create logos, brochures, ads, and other marketing materials for companies and organizations. They also design websites and other digital content, including social media graphics.

Graphic designers may specialize in one type of design (such as print or web design), or they can be generalists who do everything from logo design to social media graphics.

Starting a graphic design business can be one of the most rewarding things you’ll ever do. It’s not easy, but if you’re passionate about design and want to make a living, starting your own graphic design business is a great way to go.

Consider a suitable pricing structure when starting a graphic design business in Nigeria. You may charge the customers per hour or fixed pricing based on the project’s nature.

How much you can make: $2,500 — $1,000,000/month

How long does it take to build: 87 days (?)

Learn how two friends bootstrapped a SaaS business to $55k monthly recurring revenue (MRR) by creating a simple graphic design tool for non-designers and focusing on content marketing for customer acquisition.

14. Start an event planning business

Event planners handle different tasks related to making the business a success. Some of the event planner’s responsibilities include:

• Conducting research
• Creating the event design
• Finding an ideal site
• Arranging for food, décor, and entertainment
• Planning logistics to and from the event
• Sending invitations
• Supervising at the site etc

To start this business on a budget, begin by honing your organizational and communication skills.

Next, create a detailed business plan outlining your services, target market, and pricing structure.

Utilize free or low-cost online tools for marketing, and consider starting small by offering services for smaller events before expanding your business as you gain experience and resources.

How much you can make: $35,000 — $500,000/month

How long does it take to build: 90 days (?)

Akshay Patel's event rental and decor business, Simply Decor, Tents, and Events, saw an average ticket price of $2,000, as their advertising budget decreased from $20k to $5k, leading to 40% of their clients coming through social media advertising, 30% from expos, and 30% online in google, yahoo, and other platforms.

15. Start a catering business

A catering business is responsible for providing food & beverage-related services for vast types of events.

Catering businesses are known to be more flexible than other businesses because they don’t have to worry about location or pricing and can even work 24/7. They can cater anywhere and offer any price point that they want.

However, starting a catering business requires a lot of planning.

To start a successful catering business in Nigeria, you'll need to plan and prepare menus, manage budgets, handle clients, and more.

In addition, catering allows you to meet more people and show off your cooking skills.

How much you can make: $3,750 — $48,333/month

Elegante Catering founder, Nestor Nidome, details his journey from failed DJ business to a $20k/month catering company, emphasizing the importance of online marketing and customer feedback as key contributors to his success.

16. Start a content writing company

Content writing involves writing, editing, and publishing content in a digital format. Examples of content include a blog post, product description, and podcast script—eBooks, press releases, or landing page content.

Becoming a content writer allows you to work as your boss. Therefore, you choose whatever working schedule suits you and take a manageable workload. Moreover, content writing helps you develop essential skills you may not obtain from regular writing.

Content writing is a highly-on-demand service, as companies compete for the online audience who often begin their shopping journey by searching for relevant and educative content online. Therefore, a content writing company is an excellent source of passive income.

To start a content writing company in Nigeria, research the market and choose a suitable niche. Sketch a proper business plan and create a website. Hire a pool of talented writers and leverage modern technology to streamline operations.

How much you can make: $1,000 — $250,000/month

How much does it cost to start: $550 (?)

How long does it take to build: 30 days (?)

Twin brothers from Nigeria launched multi-niche website, Information Guide Africa, which now attracts over 200k unique visitors per month and generates $60k annually through ad networks, affiliate marketing, and sponsored posts.

17. Start a waste management business

Waste management is a booming industry with a lot of potential for growth. Waste management companies are in charge of collecting and transporting waste from households, business areas, and other sources. They also collect recyclable materials and sell them to recycling centers.

The market for waste management is huge, but it may be difficult to enter due to the high capital requirements. However, if you have the resources and expertise, there's a lot of opportunity to make it big in this industry.

How much you can make: $4,000 — $37,000,000/month

How long does it take to build: 345 days (?)

This case study showcases the story of a locally owned and operated residential waste removal business based in Colorado Springs started with a pick-up truck and a $35k loan, which now has 51 dumpsters, two roll-off dumpster delivery trucks, two residential garbage trucks, and is projecting $700-800k in sales for 2020.

18. Start a digital marketing business

Digital marketing businesses serve local and international companies to expand their reach and grow revenue. A top reason digital marketing is so exciting is that the field is constantly evolving and is easy to learn.

If you plan to start a digital marketing business in Nigeria, educate yourself and understand how digital marketing agencies work. Then, focus on building your digital skills and advancing your career through online digital marketing courses.

To stand out, find a digital marketing niche and focus on the audience interested in your services.

How much you can make: $2,000 — $6,660,000/month

How much does it cost to start: $1,260 (?)

How long does it take to build: 58 days (?)

Learn how Wealth Ideas Agency Founder/Head of Growth, Chris Anthony, went from a one-man agency to $5M revenue in three years, to now generating $120K/month while helping other agencies implement a proven lead generation system.

19. Become a mobile personal trainer

Do you love helping people through their fitness journey? If you want a great side hustle to earn extra income, consider becoming a personal trainer.

The fitness trainer side hustle can be an adamant industry to earn good money. However, once you develop a reputation as a good trainer, you can get more clients through referrals. You need to register for the certification course to start offering personal trainer services in Nigeria.

To attract your first clients, consider online advertising, and seek referrals from every customer.

How much you can make: $600 — $8,333,333/month

How long does it take to build: 532 days (?)

Time commitment per week: Min. 4 hours/week

Live Fit, a personal training company founded in 2011, grew from earning $80,000 in their first year with two trainers to earning over $760,000 in 2019 with 12 trainers and two locations, thanks to a focus on building trusting relationships and providing a variety of services to clients.

20. Start an online advertising agency

An online advertising agency helps businesses promote their products or services on the internet.

To start this business on a budget, first learn the basics of digital marketing through free online resources.

Create a professional website and set up profiles on social media platforms to showcase your skills.

Build a portfolio by working on mock campaigns or offering discounted services to friends and family, and gradually market your services to attract clients.

With dedication, you can grow your agency over time.

How much you can make: $2,797 — $1,250,000/month

How much does it cost to start: $2,500 (?)

How long does it take to build: 45 days (?)

Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.

21. Become a temporary tattoo artist

Starting a tattoo business is not as difficult as you might think. If you have the talent, ability, and guts, you already have the essential qualities for starting your own tattoo company. The Tattoo Artists market size in the US in 2022 is $1.4B .

The tattooing business is profitable and famous, and it is one of the most rewarding careers that you can have. However, becoming a tattoo artist in Nigeria requires a lot of commitment and hard work.

Tattoo shops have strict standards for artists who work in shops, so to have an ideal career as an artist, you might have to go the freelance route. It can be a short-term or long-term career, so you must be prepared before taking on such a responsibility. It won’t come with a million-dollar salary at first, but once you’ve developed a good reputation and have completed enough work, the money will start rolling in.

How much you can make: $1,000/month

How much does it cost to start: $100 (?)

Forgotten Mermaids creator Anslea shares how she started a passive income business while living out of a van, creating mermaid temporary tattoos and accessories, and has grown to average $1,000 per month in mostly passive income over the last six months.

22. Start a recruiting agency

The global online recruitment market size was $29B in 2019 and is projected to reach $43B by 2027.

The best way to assess the success of a Recruiting Agency is to review what their clients say about them and the results achieved for those clients.

As a recruiter, you dream of landing your first client, but once you do, you realize it’s only the start of what you hope will be a successful business. Have you ever wondered how to start a recruiting agency business? There’s so much you can learn from books, but nothing beats getting real-world experience.

How much you can make: $100 — $320,000/month

DistantJob is a unique recruitment agency that specializes in finding full-time remote employees, and with $3 million in annual revenue, they offer small to medium-sized tech companies an edge over big competitors who are not willing to hire remotely.

23. Start a media company

A media company is a business with professional editors and writers that create and publish content periodically. Media companies distribute content in different forms, including video, audio, and video.

To start a media company, determine the kind and size of the audience you are targeting. Then, create catchy content your potential audience will want to share or invite their friends to checkout.

Remember, quality content is nothing without a high-quality underlying platform. The content distribution platform should be easily accessible to your audience. Otherwise, your media company will not deliver quality results.

How much you can make: $150 — $4,500,000/month

How much does it cost to start: $1,100 (?)

Starter Story grew to 1.4 million monthly visitors and $500,000 in annual revenue, and offers frameworks for growing your own site.

24. Start a blog

In recent years, blogging has become a highly sought-after & lucrative Business. This location-independent business is a creative outlet to reach a broader audience and even work at any time. According to Optinmonster’s list of blogging statistics and facts:

• Blogs have been rated as the 5th most trustworthy source of gathering online information.
• 77% of internet users read blogs.
• Each month, approximately 409 million people view more than 20 billion pages.

Originally blogging started as an online journal, but today it is a highly profitable career option. Many people are choosing blogging as their full-time career and are earning their bread and butter from this profession.

If you want to start blogging as a side hustle or as a full-time profession, choose a niche you will enjoy writing about and have a content strategy ready. Then, create a mailing list, and decide on a good blog posting routine to keep your audience engaged.

How much you can make: $200 — $160,000/month

How long does it take to build: 37 days (?)

25. Start a furniture business

The furniture industry involves designing, manufacturing, and selling various types of furniture for household and commercial purposes. With the increase in flexible workspaces and the real estate industry’s growth, the furniture business’s demand is boosted.

The furniture business is easy to start and does not require high investments. However, it is first essential to know your niche, for example, office, domestic, home furniture, and luxury items.

The furniture business needs a lot of preparation and prior knowledge. Taking business classes, learning about your local market, and making a solid business plan is advisable. In general, if your products are unique and one of a kind, consumers will be willing to pay a higher, including the shipping cost.

How much you can make: $1,700 — $999,999/month

26. Start a skin care product line

The skincare business is a multi-billion dollar one, and it shows no sign of slowing down. New anti-aging products are entering the market at a nearly exponential rate, and the competition for consumers' money is growing more and more.

The industry was valued at 130 billion USD in 2021 and will expand at an annual growth rate of 4.6% up to 2030. This is surely a type of business that you should not miss. You'll need to build your creativity on your products and make sure that it is all safe and useful in improving the skin of your customers.

How much you can make: $300 — $1,000,000/month

How long does it take to build: 165 days (?)

Two moms start a side hustle selling all-natural body products, doubling sales since their launch in 2017 with over 75 craft shows, promoting a non-profit source for their shea butter and self-promotion through podcasts, lining up retail interest from exposure.

27. Start a real estate business

Are you a qualified architect with a broad range of knowledge in the real estate field? Starting a real estate business can be a profitable venture.

Real estate involves purchasing, selling, managing, or investing in land and buildings.

To become a successful real estate business owner, you must have finely honed visual awareness and a strong understanding of various building materials and structures.

How much you can make: $5,000 — $1,500,000/month

This case study is about T. C. Lewis & Co, a real estate investment and management firm that successfully diversified their approach to include sales, development, remodeling, and construction, with property management being the key to investor doors and organic growth.

28. Become a social media marketer

Social media marketing is gaining website visitors or customers by promoting your company on social media. To succeed in social media marketing, you must regularly post tasty, entertaining, and engaging share material on your social media channels.

Everybody knows that social media is a tool that has become extremely important to businesses of all sizes. It allows them to connect with people worldwide and provides a platform for customer service. Social networks are changing the way we do marketing. They offer an opportunity for individuals, businesses, and organizations to reach millions instantly.

Nowadays, it is easy to earn money through social media marketing. You just need to invest some time and effort to make a profit. Social media has been an essential part of many businesses marketing campaigns, and it is expected to be a significant part of any company’s future.

How much you can make: $100 — $250,000/month

How much does it cost to start: $5,750 (?)

This case study follows Kelsey Chance and her creative agency, Good Chance Creative, which specializes in social media content creation, and in just 3 years she has grown her one-woman business to make $20,000 in monthly revenue through a niche in small in-house marketing teams and start-ups managing their social content, with key services including lifestyle brand photography, social media account management, copywriting, and eCommerce strategy consulting.

29. Start a dropshipping business

Dropshipping is a business model where you sell products to customers without holding inventory.

Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.

To start a dropshipping business on a budget, choose a niche or category of products you want to sell.

Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.

Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.

How much you can make: $6,000 — $3,000,000/month

How much does it cost to start: $6,000 (?)

Time commitment per week: Min. 10 hours/week

Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.

30. Start a boutique

You may consider opening a boutique if you are passionate about the fashion and textile industry.

A boutique is a shop that sells clothes. Opening a boutique is a dream for entrepreneurs who want to experience the joy and freedom of owning a cash business. Starting a boutique is easy and can be managed by a single individual. In addition, a boutique requires a comparatively smaller capital to start.

To succeed, the boutique owner must coming creativity and passion.

How much you can make: $10,000 — $25,000/month

Boutique Rye is an online-only women's clothing and accessories boutique that has grown to 3,200 Facebook Group members and a successful website through organic customer sharing, live sales, and open communication with customers.

31. Start a film production company

A film production company is responsible for producing video content for social media, corporate promotions, television programs, commercials,s or other media-related fields. Ideally, the responsibilities of a video production company include scripting, location scouting, and also logistics to ensure a successful film.

Starting a film production company can be a daunting task. However, you can set up your business for success with proper guidance. Here are important steps for creating a video production company:

• Determine the company niche
• Choose a suitable company name
• Draft a solid business plan
• Hire an advocate to lead all legal matters of starting a company
• Fund your business
• Acquire video production equipment and skills
• Create a website and market your film production company

If you are starting a video production company from scratch, consider creating some proof-of-concept projects so you can market the business. Alternatively, you may buy a franchise or an existing business.

How much you can make: $10,000 — $1,500,000/month

How much does it cost to start: $1,500 (?)

Lemonlight CEO, Hope Horner, co-founded an on-demand video production company that has produced over 7,000 videos for more than 3,000 brands, generating over $6 million in sales and growing to a 45-person team, all without taking any outside capital and being recognized in Inc 5000 and Entrepreneur 360 for three years in a row.

32. Start a freelancer platform

Freelancer platform is a place where people come with skills and services to offer and people come who need those skills and services. So we can say freelancer platforms are a marketplace for sellers and buyers of services and skills.

The freelancing industry is growing rapidly and it's becoming a popular career option for people who are "non-traditional" employees. The global Freelance Platforms market size is expected to reach $6.7B by the year 2025 . While working on a full-time job, freelancers simultaneously work on a freelance career. The platforms available online help them to increase their business by attracting new clients.

With all of the businesses looking for help on their websites, it would be a good idea to start a freelancer platform. Freelance platforms do well because people have jobs that need to be done and businesses have the resources to pay for the job at hand.

How much you can make: $3,000 — $5,000,000/month

How long does it take to build: 80 days (?)

CloudDevs, a tech talent platform that sources and vets freelance tech talent and matches them with companies, has achieved $1 million in GMV in its first year, plans to achieve 100% growth year on year, and focuses on customer loyalty through its Net Promoter Score metric.

33. Start a private nurse service

Private nurses provide one-on-one medical care to patients who are homebound or in an institution, such as a hospital, nursing home or other such facilities.

A private nursing attendant's responsibilities include taking care of the daily activities of patients like bathe, feed, maintain personal hygiene. Most of the private nurses live with the patient's family in their home, and may also work for long hours.

To become a private duty nurse, you will need to earn a registered nursing degree (RN) or a licensed practical nurse degree (LPN). Registered nurses with 2-3 years of relevant experience can then pursue their career as private duty nurses. Obtaining an advanced certification can also increase more career options.

Private nurses are usually hired by an individual or an agency. However, they work at a patient’s private residence and get paid by the individual. The career scope of private nursing practice is expected to increase by 7% in the coming years, with the increased aging population and the need for home care.

Pricing of a registered private nurse in the US would cost around $25+ an hour, which is approximately $4000 per month.

34. Start a food truck

Food trucks are a highly profitable business that offers customers a variety of meal options out of a mobile truck. This basically operates inside a large vehicle equipped with kitchen and food products. Starting a food truck is a dream for many people, but it's more challenging than it looks. To make it work, you need the ideal location and menu.

To start a food truck business in a particular city, it is mandatory to check what kind of food trucks are already operating, identify a gap, and bring in some new experiences. Then, with the right plan and the right approach, you can be on your way to starting your own food truck empire.

How much you can make: $29,166 — $61,650,000/month

How long does it take to build: 75 days (?)

Food Fleet grew over 160% in just one year and managed over 20 million in sales for its clients, securing multiple contracts with the likes of Sodexo, Levy Restaurants and more, due to its understanding of catering client needs and its advanced turnkey and design services.

35. Start an affiliate marketing business

36. Start a kids store

The kid's store business is a large market attracting millions of annual global sales and steady growth. If you plan to start a kids store business, you can specialize in clothing, toys, and accessories or sell all of these in one store.

Research the local market to discover what is appealing, and find the best suppliers. Define a business model and apply for applicable licensing. For kids apparel stores, a physical storefront acts as an anchor and helps build a local customer base. An online store will help you reach a wider market as you supply to those outside your locality.

37. Start a niche web design business

Niche web design business focuses on a specialized market such as law, home improvement, videography, fashion, etc. typically, when a web designer niches down their services, they are simply choosing to concentrate on one industry and create websites for businesses within the particular niche. To become a niche web designer, consider honing the following skills and personal qualities:

• Visual design, HTML, CSS, JavaScript
• Strong communication skills
• Analytical thinking and problem-solving skills
• Teamwork and research skills
• Attention to detail

Narrowing your focus to a particular niche gives you a higher chance of becoming a recognized expert and places you in a better position to charge more for your services.

How much you can make: $200 — $200,000/month

How long does it take to build: 40 days (?)

"Case Study: Olidrel Hub, a Nigerian tech training platform, attracts over 80 interested participants with word-of-mouth marketing, receives initial investment of $2000, and aims to empower 2,000 youths in the next 5 years."

38. Become a freelance web developer

Are you passionate about technology and looking for a way to earn extra income while working on your terms? How about becoming a freelance web developer? Firstly, web development is a highly sought-after skill in every industry. Secondly, the pay rate is higher than freelance writers, and freelance graphic designers earn. As a freelance web developer, you put yourself in a high-value proposition. However, it would be best to learn languages like HTML, CSS, and Javascript to get started. Find a niche and start building anything and everything. Create a personal brand and build up your portfolio.

How much you can make: $6,000 — $148,000/month

How long does it take to build: 70 days (?)

Cantilever Web Design and Development, with clients including IBM and small businesses, reached a revenue of over $750k last year with a gross margin of 50% by prioritizing Digital Hospitality, fostering high-quality relationships, and constantly improving their process and philosophy.

39. Start a blog

40. Start a soap making business

Are you looking for an easy business you can start from home? Soap making is a relatively easy cottage business you can start today.

Soap is one of the products you will find in every household. Therefore, soap is a product that will remain in demand, making soap making business a lucrative idea.

To start a soap-making business from home, research the competition and choose the niche your business will focus on. You can make scented soaps mixed with essential oils or non-scented soaps for washing utensils.

Choose a business name and create a business plan indicating your entity type, mission statement, and soap marketing strategy.

How much you can make: $1,000 — $600,000/month

How much does it cost to start: $5,400 (?)

How long does it take to build: 400 days (?)

Kiss My Crown Essentials founder Warnisha Foster shares her journey from creating organic soap products in her kitchen to selling over 500 soaps in her first month with a mission to let mothers know that they are seen, beautiful, and a necessity.

41. Start a cosmetic store

The cosmetic industry is growing rapidly. Starting a cosmetic shop can be highly profitable, but only if you stock trendy, skin-friendly products.

If you are passionate about the beauty industry, consider starting a cosmetics brick-and-mortar shop.

Cosmetic shops sell products ranging from anti-aging, aromatherapy, lotions, beauty spa, cosmetic store, and even make-up.

To start a cosmetic store, research the market and source products from well-known brands in the beauty industry.

How much you can make: $8,500 — $490,000/month

How much does it cost to start: $800 (?)

A former felon's passion for makeup and skincare led her to launch FBI Cosmetics, which has grossed over $62,000 in sales since July 2020, through social media marketing, brand partnerships, and online sales at Walmart.com.

42. Start a mobile phone cases & accessories kiosk

The increasing adoption of mobile phones and other handheld devices has created a secondary demand for phone accessories. Experts project the mobile phone accessories market will reach $166 Billion in the next decade.

High-demand mobile phone accessories include phone cases, batteries, headphones, portable speakers, etc.

Opening a mobile phone accessories kiosk can be a profitable way to make money. Do you plan to start a mobile phone accessories kiosk? Find a busy shopping mall where people buy phones. You can sell mobile phone accessories in retail or wholesale only.

Phone Loops founder Jean-Philippe Brousseau developed and launched his first product after realizing how often he dropped his phone and caused costly repairs, and to date, the company has sold over one million Loops in 66 countries.

43. Start a gym

Over the last decade, more people across the globe have become self-aware of the importance associated with living a healthy lifestyle.

As a result, the gym has become a trend for millions of people, leading to a rapid increase in the size and popularity of the global fitness industry. According to statistics , the global fitness club industry is worth over $96 billion.

Therefore, starting a gym could be a great business opportunity.

How much you can make: $20,000 — $1,200,000/month

How long does it take to build: 227 days (?)

44. Start a car washing and detailing business

The carwash business is already a multi-billion-dollar industry with room for growth.

With the number of vehicles per household increasing daily, starting a car wash and detailing business could be a profitable idea.

If you have a piece of vacant land in the right location, you can get into the carwash business. You can set up an in-bay automatic carwash, self-washing carwash, touch-free carwash, or a wide range of other options.

45. Start an audio sharing app

An audio-sharing app is a streaming application that delivers sound or music without the need of downloading files from the internet.

Examples of audio sharing apps include Spotify , Apple , Music , and Pandora .

The global music streaming market size has increased YoY since its inception and has become the primary revenue source for most music labels.

The trend is attributed to the global music streaming subscriber base growth which is expected to reach 2.81 Billion in the next few years. Given the trends, building your audio sharing app is a great app business idea that will allow you a slice of the pie.

To start an audio-sharing app business, follow these steps:

• Research the main features of an audio-sharing application
• Apply for the respective license
• Hire a team of music application developers
• Develop the audio sharing app UI/UX design
• Decide the Audio sharing app's minimum viable product

To achieve success with your audio-sharing app, get started asap!

How much you can make: $20,000 — $100,000/month

Saga, a private family podcast app, was founded to help families save the life stories of loved ones through audio and has raised $1.8 million in seed funding to date, has thousands of users across North America, Europe, Asia, and Africa, and is set to launch on Android.

46. Start a sports betting website

Sports betting has continued to become popular over the past years. Although sports betting is still not legal everywhere, the global betting market is huge and can be lucrative. If you love sports and looking for a profitable sporting-related business, you may consider starting a sports betting website.

However, before starting your sports betting website, make sure sports betting is legal in your state and that you have the required permits and licenses.

How much you can make: $30,000/month

How long does it take to build: 175 days (?)

Discover how Sean Green turned his sports gambling podcast into a multi-million media empire generating $30K/month in revenue and over a million downloads annually.

47. Start a small chops packaging business

48. start a car rental business.

Starting a car rental business can be a profitable venture for those interested in the auto industry.

Retail and corporate are the main segments within the car rental industry. Retail car rentals focus on individuals who rent cars for shorter periods, while corporate car rental targets companies that want to transport clients or employees.

If you are starting a car rental business in Nigeria, target airports, hotels, railway stations, commercial offices, and other high-traffic areas.

Market your business, hire employees who will manage the operations and keep records, and purchase business insurance for both cars and employees.

How much you can make: $2,000 — $583,333/month

ROAMERICA, a campervan rental company founded by Taylor Hood and Gretchen Bayless who quit their full-time jobs to focus on their business and have expanded their fleet quickly to meet the demand of adventure-seeking customers, with most of their web traffic coming from organic Google searches and a focus on social media and brand awareness.

49. Start a restaurant

If you love cooking and are passionate about entrepreneurship, starting a restaurant can be a fun and lucrative business.

To get started, choose a great location, and hire an excellent support team. You will need a chef to inspect the food and line cooks, waiters, and waitresses to serve the customers. No matter the restaurant type, you need great culinary and business skills to make your dream come true.

If you plan to open a restaurant in Nigeria, gain insight from consumer preferences and focus on serving modern consumers what they need.

How much you can make: $48,333 — $61,650,000/month

One Life Meals is a Toronto-based healthy meal delivery service that made 14,500 meals per month and generated $130k in monthly sales in 2018 through their one-on-one consultation, lean protein and seasonal veggies-based meals, and their focus on the client experience.

50. Become a virtual assistant

Virtual assistants support businesses, teams, or individuals by performing administrative tasks remotely. As businesses these days tend to outsource their tasks, the demand for virtual assistants is growing rapidly.

Becoming a virtual assistant is flexible, as you can choose a work schedule and location at your convenience. Many virtual assistants in Nigeria have a dedicated home office where they work in a quiet and distraction-free environment.

To become a virtual assistant, identify a niche you like and undertake any training. Then, figure out how much to charge your customers and create an online presence where you can apply for jobs. As a virtual assistant, you can define your work schedule depending on your availability.

How much you can make: $1,000 — $1,000,000/month

Filipino Virtual Assistance by FVA Business Consultancy, founded by Julmar Grace Locsin, offers online and offline training to empower marketers, enable businesses, and equip freelancers which has trained 25,000 students from their 31 courses, has 16 coaches assigned from different territories, and fifteen in the FVA team for global digital leadership that will impact the world through digitalization, one life at a time.

51. Start a taxi cab business

If you are an experienced driver and know your city well, starting a taxi cab business can be a very lucrative side hustle.

Here are the steps on how to start a taxi cab business.

• Secure your business licenses
• Secure financing and purchasing equipment
• Purchase a commercial insurance

How much you can make: $250,000/month

Albert Williams grew a $3.5 million transportation company, The Best Deal, from a niche transportation sector; he attributes the company's success to providing excellent service and committing to continuous learning.

52. Start a day care center business

Do you know that daycare centers are lucrative businesses? The industry grossed over a billion dollars in the US last year. The demand is rising, which is why many entrepreneurs have jumped aboard the idea of starting a daycare center business. This is a rewarding experience, especially if you have children or are in the education field.

Listed are the steps to start a daycare center business.

• Register your business
• Get all required daycare permits and licenses requirements
• Get certifications
• Get insurance
• Prepare your daycare center.
• Hire needed staff
• Promote your business

53. Start an email marketing business

Email marketing is a popular and effective way for businesses to reach their target audience and promote their products or services.

With the rise of the internet and the increasing use of email as a communication tool, starting an email marketing business can be a lucrative and rewarding venture.

An email marketing business involves creating and sending marketing emails to a list of subscribers. The emails can be newsletters, promotional messages, or other types of content designed to engage and convert the recipient into a customer. The business owner is responsible for building and maintaining the email list, creating the content, and sending the emails using specialized software.

To start an email marketing business, you must have a strong understanding of marketing principles and a good grasp of best practices. This includes creating compelling subject lines, segmenting your email list, and analyzing your campaigns’ results. You will also need to be proficient in email marketing software like Mailchimp or Constant Contact.

To run a successful email marketing business, you must clearly understand your target audience and what they are interested in. This will help you create relevant and engaging content that resonates with your subscribers and encourages them to take action. A solid call to action in your emails is crucial, whether it’s visiting your website, making a purchase, or signing up for a newsletter. Starting an email marketing business requires marketing skills, expertise, and a willingness to learn and improve continuously. The right strategies and tools can be a rewarding and successful way to reach your target audience and grow your business.

How much you can make: $1,500 — $8,333,333/month

Boundless Labs is an email marketing agency for eCommerce brands that has generated over $25 million in email attributable revenue for their clients since launching 18 months ago and currently makes around $90K per month, with plans to reach $100K per month by the end of January 2020 through client referrals, strong relationships, and hard work.

54. Start a dry cleaners business

Dry cleaning is a business that takes clothing, linens, and other fabrics and cleans them with no water. The dry cleaning process uses chemicals to clean the fabric and make it look new again. This process can remove stains, soil, and odors from your clothes.

People will always need their clothes washed so that this business model can succeed. Starting a dry cleaning business is a great way to enter the industry.

To maximize profitability, offer multiple services beyond the typical dry cleaning like wash and fold service.

How much you can make: $26,500/month

Dhobilite disrupted the laundry market in India by using smartphone technology and becoming India's first app-based, on-demand cleaning service provider, expanding to more than 15 cities, with 20+ stores and 30+ franchises, offering premium online dry cleaning and laundry services, with revenue equally distributed between dry-cleaning and laundry.

55. Start a fashion design business

How much you can make: $650 — $4,660,000/month

Love Lorn Lingerie started as a side hustle and now generates $1.9k per month in revenue through Etsy and local events, with plans to expand into wholesale and increase marketing efforts to eventually replace the founder's day job.

56. Start a mobile auto detailing service

A mobile carwash business reaches clients whenever possible and offers its services conveniently. Therefore, car owners do not need to drive to different locations looking for a car wash, as the mobile service provider is there for the client.

The advantage of offering a mobile car wash business in Nigeria is that clients will call you to their location whenever they need their vehicles cleaned. You can serve more customers based on convenience compared to an immobile car detailing business.

How much you can make: $5,000 — $20,000/month

Learn how former tech salesman, Matt Paskow, left the industry to start Fresh Look Mobile Auto Detailing, a profitable mobile auto detailing business generating around $5k per month that focuses solely on SEO, Google AdWords, and Google My Business for marketing.

57. Start a hotels business

If you are considering starting a hotel, then it is time to implement your plan. There are five key elements to understand if you want to succeed in this industry: location, size, budget, experience, and market demand.

Here are some tips to consider before forming a hotel:

• Name your business
• Decide on a marketing strategy
• Start by renting out a room in your home.
• Hire a business capital broker
• Make a marketing plan
• Offer complementary services

How much you can make: $15,000/month

How long does it take to build: 325 days (?)

SKNMUSE, a premium beauty brand dedicated to elevating the beauty experience for Black Women, has a 40% customer retention rate, achieved a 169% increase in revenue, and made $30,000 in Q1 alone.

58. Sell building materials

A building material business trades materials used in the construction industry.

The building materials include loose rocks, sand, iron, bricks, cement, poles, cement, and all other materials the building contractors need. Your target market will be building and construction managers, hardware, and contractors.

To promote your business, get featured in industry magazines and online forums. Create a website and ensure an active online presence through social media and SEO.

How much you can make: $20,000 — $1,250,000,000/month

Startup Mini Materials sells miniature masonry and woodworking supplies with a cult following gained through viral videos, social media and email newsletters.

59. Start a transportation service

Transportation businesses offer ridesharing services, haul consumer goods, or ship supplies and products from one location to another. They target individual passengers, other companies, or global business partners.

If you are starting a transportation service in Nigeria, decide who and what you will serve, set up the business structure, register the business, and apply for the required business licenses or permits. To ensure a profitable business, incorporate proper hiring procedures and keep up with maintenance and recertifications.

How much you can make: $12,000 — $364,000/month

How long does it take to build: 410 days (?)

Mirai Flights is an app-forward private jet booking service with a focus on UK, Europe, Middle East and CIS states, that allows customers to bypass the long wait times with more than 30 parameters analysed in less than 30 seconds, achieving $4.37m turnover from March to December 2021, and planning to increase it up to $10.2m and expand internationally in the future.

60. Start a water purifying business

It is a very lucrative industry, especially if you select the right location for your business, and will be the center of attention in the coming years.

Water is a necessity. Daily, around the world, billions of people require clean drinking water and sanitation services. However, millions don’t have access to safe and affordable water. They either have to purchase it or otherwise search for systems that can purify water for consumption. This is where the water purifying business comes in handy.

Listed are the steps to start a water purifying business.

• Plan your business
• Register your business name
• Complete all required business documents to run your business
• Get insured

How much you can make: $1,500/month

How long does it take to build: 232 days (?)

Pyotam is India's first ayurvedic alkaline beverage brand that provides water solutions through expertise and innovation, boasting a monthly revenue averaging Rs. 1,00,000/- ($13K) from a customer base of around 250 customers having sold 1,400 bottles so far.

61. Start a healthy food processing business

With the growing preference for healthy and functional food, starting a healthy food processing plant can be rewarding.

The advancements in the food processing industry, innovation in processing technology, and continuous growth in demand for processed food are some excellent reasons to consider opening a healthy food processing business.

To start a healthy food processing plant, find out a market gap, and research the demand. Understand customers changing tastes and focus on offering the best throughout.

How much you can make: $52,944/month

Bluebird Provisions Bone Broth is North America's fastest-growing bone broth brand, doing 49,000 per month and growing 50% YoY, with 5000% growth in customer base since starting, thanks to an SEO-focused strategy, email marketing, referrals, and Amazon.

62. Start a solar panel installation business

The solar panel installation business is a growing industry. In the past decade, solar panels have become more affordable and attractive to consumers. This has led to an increase in demand for solar panel installation services.

Solar energy is one of the most sustainable and environmentally-friendly forms of energy available today. It produces no greenhouse gas emissions or other toxic chemicals that can harm the environment or human health.

A solar panel installation business should consider investing in marketing strategies that will help them reach their target audience and sell their services effectively.

How much you can make: $2,000,000/month

Solar Energy Partners, a solar-focused company founded by Alex K Williams, has achieved more than 400% growth since inception, and is expanding into new markets while offering best customer service and training programs.

63. Start a gym

64. Start a tiny house building business

People love living in small spaces. They're affordable and easy to maintain. Starting a tiny house-building business is a great way to help people and make money. You need to be licensed and insured to work in the state you live in, and you will also need a business license. Additionally, you will also have to research how much it costs to build a tiny house as well as what materials are needed for the project.

Tiny houses are becoming increasingly popular, offering a unique opportunity for you to get involved in the construction industry. The tiny homes industry is expected to grow to 3.57B by 2026 .

How much you can make: $295,000 — $10,000,000/month

How long does it take to build: 700 days (?)

Tiny Away, a network of eco-friendly 'tiny houses' across Australia, has grown to over 75 private locations and brings in an average of $156,000 in monthly rental revenue, appealing to city dwellers seeking unique and comfortable accommodation experiences.

65. Start a cleaning & maintenance business

A Cleaning & Maintenance business is a service-based business in which you are the owner, operator, and lone employee. In a cleaning and maintenance business, you provide a specific service such as carpet servicing or pest control. It's important to note that although it seems straightforward, this business type can grow very quickly if done properly.

Cleaning and maintenance can be a real hassle, especially if you have a lot of employees or just your own staff. The cleaning and maintenance industry generates over $40B a year in the US alone. This makes it one of the largest, most competitive industries in the USA.

Starting a cleaning and maintenance business in Nigeria is pretty easy. You can start small with residential clients or businesses. Just make sure you check with your local government to ensure licensing (or certification) requirements.

How much you can make: $60,000 — $250,000/month

How much does it cost to start: $425 (?)

MaidThis®, launched by Neel Parekh in Los Angeles with just one cleaner in 2013, has achieved over $10 million in total revenue by focusing on cleaning Airbnbs and vacation rentals, thanks to its successful remote business model and new-age marketing tactics, and has now launched MaidThis Franchise to expand the business further.

66. Start a personal trainer marketplace

The Personal trainer marketplace is a marketplace of personal trainers and fitness instructors. The latest market trends indicate that the global personal training industry is growing at an exponential rate. With this, the demand for reliable and competent personal trainers and trainers-in-training is also rising.

The market size of the Personal Trainers industry in the United States is $13B in 2022 . It increased faster than the Life Sciences sector overall.

How much you can make: $200,000/month

How long does it take to build: 89 days (?)

Fitness coach Zakk Colburn started The Personal Trainers Business Incubator in 2020, generating $250k in sales in the first year and, with a team of 15 employees, finished 2022 at $1.3 million in sales, providing an online hub for trainers to learn how to start and grow their own businesses.

67. Start a laundry business

Starting a laundry business can be a fulfilling and lucrative venture for entrepreneurs looking to make a difference in their communities. With the right equipment and a commitment to providing excellent customer service, this business idea has the potential to thrive in a variety of locations.

One unique aspect of starting a laundry business is the opportunity to offer specialized services, such as eco-friendly detergent options or same-day turnaround for busy professionals. Additionally, partnering with local dry cleaners or offering pickup and delivery services can set your business apart from competitors and attract a loyal customer base.

In terms of upfront costs, starting a laundry business will require a significant investment in commercial-grade washing machines and dryers, as well as a convenient and well-located storefront. However, with the right marketing strategies and a focus on providing top-notch service, this investment can quickly pay off and result in a thriving business.

Overall, starting a laundry business is a rewarding and potentially profitable venture for entrepreneurs who are passionate about making a positive impact in their communities. With the right approach and a commitment to excellence, this business idea has the potential to succeed in a variety of settings.

How much you can make: $24,000 — $83,333/month

68. Start an interior decorating business

Interior design is one of the most exciting and rewarding fields to enter. Interior designers help clients create functional, beautiful spaces that reflect their personalities.

The demand for Interior decor is booming and showing no signs of slowing soon. If you love enhancing the look of interior spaces, starting an interior décor business can be a great business idea.

To start an interior décor business, you must possess a working knowledge of space planning, textiles, color schemes, and more. You will work with architects, engineers, and builders to plan the look and function of indoor spaces.

How much you can make: $40,000/month

How much does it cost to start: $1,250 (?)

Seriously Happy Homes, an interior design firm based in Seattle, uses their efficient design process to keep momentum in their projects, with average monthly revenue of $40k, without targeting the ultra-rich, and is shifting gears to focus on their virtual Design Helplines service and business coaching for interior designers.

69. Start a party rental business

A party rental business helps people get the products or the services they need to make their party a fun-filled event.

Party rental businesses can include:

• Photo booth rental
• Renting wedding clothes
• Party boat rental
• Sound equipment rental
• Outdoor equipment rental
• Cake structure rental

To start a party rental business, begin with what you know much better. Then as you gain experience, you may diversify to renting other party accessories or partner with experts in different fields.

How much you can make: $35,000 — $400,000/month

How long does it take to build: 15 days (?)

70. Start an auto repair business

Many people just love to tinker with, fix and repair cars. This is an all-consuming hobby for some people. They like to take things apart and figure out how things work. The process of fixing and repairing cars is almost therapeutic for them.

An auto repair business is a rewarding way to make extra money or build an entire business.

You can do it in the comforts of your own home, working around your schedule and getting paid handsomely for it. The United States automotive service market is expected to reach $75B by 2026 .

How much you can make: $415,000/month

Finish Line Towing & Auto Repair is Wisconsin's largest roadside assistance provider, bringing in $5 million in annual sales through its dedication to customer service, effective dispatching, and clean service, with a goal of expanding to other markets in Wisconsin and Illinois.

71. Start a bread bakery

You’ve heard the term “breadwinner”, but did you know there is a growing market to bake bread, which could potentially make you a “breadmaker?” If you love baking but want to make extra money, consider a bread making business. The industry is flourishing and has tons of growing potential. On average, the typical U.S. resident consumes 37.4 pounds of bread annually. It is a small scale manufacturing business that can be started with little investment & from the comfort of your home.

72. Start an oil production business

The oil manufacturing business is highly profitable small scale business and can be started with little money. Oil is used for various purposes like cooking, manufacturing soaps, cosmetics & hair products.

Oil can either be produced at home or in manufacturing units depending on the scale you want. The most important aspect is maintaining consistency in quality & hygiene standards. If that is maintained then you can easily create your own brand of oils & even start exporting.

How much you can make: $29,000/month

How much does it cost to start: $4,970 (?)

Thulisa Naturals founder, Anusha Moodley, shares the journey of building her natural bath and body product company, which boasts a 25% post-tax profit after generating $29k in monthly revenue and expanding into 123 retail stores across the US.

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37 Most Lucrative Small Business Ideas in Nigeria (2023)

Are you tired of working for someone else and never making enough money? Do you dream of escaping that cycle and taking charge of your own destiny? Do you want to become your own boss? If the answer is a resounding "yes," then you're in for a treat. Allow me to introduce you to Tunde, an enterprising soul with a pocketful of dreams and a burning passion for financial freedom. Armed with just 200,000 Naira, he went on a quest to find the most lucrative small business ideas that could pave the way to prosperity.

Now, let's dive into the world of possibilities that Tunde explored. What are the top small business ventures that can turn your modest investment into a successful venture? How can you navigate the Nigerian market and find the perfect opportunity that aligns with your interests and budget?

Join me as I reveal a secret list of lucrative small scale business ideas in Nigeria that you can start with limited funds. Get ready to discover new horizons, and empower yourself with the 37 most lucrative small business ideas to start in Nigeria. Let's get started.

Why Should I Start a Small Business in Nigeria?

There are many great reasons to start a small business in Nigeria. One of them is that Nigeria has a huge population - more than 200 million people! That means you will have plenty of potential customers for your products or services.

But wait, there's more! Here are some other good reasons to start a small business in Nigeria:

Vast Market Potential: Nigeria is home to over 200 million people, making it the most populous country in Africa. This large consumer base presents an immense market for small businesses to tap into. Whether you sell products or services, the large Nigerian market can help your business grow and make a lot of money.

Entrepreneurial and Innovative Culture: Nigeria has a strong culture of entrepreneurship, where people are resilient and creative. It ranks high in global reports on entrepreneurship, showing that people there are good at coming up with new ideas and making small businesses successful. As an entrepreneur in Nigeria, you will be part of a lively community that loves new ideas and celebrates innovation.

Rapid Technology Growth: Nigeria is experiencing a lot of progress in technology and digital innovation. It is no surprise that most people refer to our tech sector as "Africa's Silicon Valley." Many tech companies including yours truly have seen a flurry of significant strides and investments. This tech boom offers aspiring entrepreneurs exciting opportunities to capitalize on the growing digital market. The increasing adoption of mobile technology and internet penetration has created a conducive environment for e-commerce and online businesses to flourish.

Embrace the thriving market, creative business culture, and technological advancements in Nigeria. Start your small business journey with these lucrative small business ideas, and find endless possibilities ahead.

Related: A Comprehensive Guide to Shopping on Best Buy and Shipping to Nigeria

What Are The Most Lucrative Small Business Ideas in Nigeria?

Let us get right to the top lucrative small business ideas in Nigeria.

1. Offer Catering Service Do you love to cook? Launching a catering business may be the perfect small scale business idea for you. You can cook from home and cater to other local events. This is a lucrative business idea that you don't need a huge capital to start. Besides the cost of food items, you may have to also hire a few employees as you begin to book more events. Your bill and service charge should cover these expenses.

2. Start a Palm Oil Storage Business Leveraging the palm oil trade can unlock a lucrative small business opportunity in Nigeria. Here's how: From February to April, when palm kernel prices dip, buy palm oil at a lower cost. Then, stow it away until July, the peak season, when demand surges. By reselling the stored palm oil during this high-demand period, you can enjoy substantial profit margins ranging from 50% to 60%. This strategic approach taps into the seasonal fluctuations of palm oil prices, allowing you to maximize your investment.

Embracing small business ideas like this is very simple. It is about understanding the market dynamics and timing your actions right. With careful planning and attention to price trends, you can create a sustainable source of income. This small business idea shows how a simple strategy and knowledge of local market patterns can bring impressive returns.

3. Transport Business Many organizations in Nigeria need transportation but cannot afford to buy vehicles. Buying a bus (or several buses), can make you the go-to transportation service. Schools, religious organizations, and non-profits could outsource their transportation and logistics to you. Focusing on a sector, like education or e-commerce delivery is a good idea. You specialize, serve a lot of schools and retailers, and grow a lucrative small business.

4. Establish a Security Agency Security is not the sole responsibility of the government. The need for excellent security services in Nigeria is on the rise. You can set up an agency, recruit professionals or become a bodyguard. Another option is to import and sell security products.

Related: Easy Ways Small Businesses Improve The Lives Of Their Customers

5. Invest in Property Property investment takes more upfront capital than some other small business ideas in Nigeria. But if you have the capital, you should definitely look into purchasing land or property in Lagos. The returns can be as much as 100%-200% profit when you resell the property. You can also lease office buildings or homes and make a reasonable passive income each month.

6. Copywriting Business The demand for great copywriting has grown significantly as businesses realize the importance of compelling content. Copywriters are sought after to create persuasive ad copies, speeches, email campaigns, and more.

Starting a copywriting business requires a good level of writing skills, creativity, and the ability to understand clients' needs. You can offer your services as an individual copywriter or build a team of talented writers. Developing a strong portfolio and delivering quality content will help you attract clients and establish a reputable brand.

7. Open a Daycare Center Nigeria's demand for reliable daycare centers presents a unique small business opportunity. Many of these centers don't meet the high standards that parents expect. This gap in quality childcare services creates a promising avenue for entrepreneurs. You can easily start this if you have creativity, a love for children, and access to a clean and secure environment.

Embarking on this venture doesn't necessitate intricate skills or elaborate setups. What matters is your passion for providing a safe and enriching space for children to learn and play. This small business idea's foundation lies in understanding parents' specific needs and concerns. Plan smart, keep kids safe, teach creatively, and create a daycare that parents love and where kids thrive, bringing you joy.

8. Offer Web Development Services The technology market is expanding. The United States also outsources many web-related jobs to other countries. You can learn web design and coding online and then offer web development services from home. This is one industry where you can make very good money if you're techie.

Related: Branding Tips For Small Businesses

9. Sew Specialized Uniforms or Special Items The need for specialized uniforms in Nigeria is huge. In Lagos, there are over 500 schools and businesses with this need. There are also military and paramilitary groups with such a large demand. Sewing specialized uniforms for these groups will keep you busy for a while.

10. Poultry Farming The agricultural sector has always been a gold mine for entrepreneurs. Poultry farming, in particular, is a profitable business with a steady market in Nigeria. The demand for chicken, turkey, eggs, and other poultry products is constantly on the rise.

To start a poultry farm, you will need to invest in suitable housing, feeds, and the right breed of chickens or turkeys. With proper management and a specific target market, you can generate significant profits from poultry farming.

11. Rental Services The rental services industry is a broad one in Nigeria, encompassing car rentals, event rentals (such as canopies and chairs), and even house rentals. The demand for rental services is high, especially in major towns where events take place regularly.

Starting a rental services business requires strategic planning. If you focus on renting out canopies, tables, and chairs, you can cater to the needs of individuals and organizations hosting events. Choose a suitable location and establish a strong network to ensure a steady stream of customers.

12. Snail Farming Snail farming is a lucrative small-scale business with a high demand for snails in Nigeria. Snails are consumed in large quantities, with the country alone consuming about 7.5 million kilograms of snails annually.

Starting this business is relatively easy and requires minimal investment. You can begin by selling a small number of snails and gradually expand your business as they reproduce. With the right housing and feeding conditions, snail farming can be combined with a regular job, making it a flexible and profitable business to get started selling snails.

13. Sports Viewing Center Business Sports viewing centers have become a popular business opportunity in Nigeria. Many individuals in villages, towns, and cities do not have direct access to sports channels and rely on viewing centers to watch their favorite games.

To start a sports viewing center, you will need a suitable site, a well-equipped structure, comfortable seating, and the necessary gadgets for showing games. Over time, you can build a loyal customer base and create a thriving business.

14. Makeup Business The beauty industry has evolved significantly, with makeup becoming more than just a beauty item. It is now considered a form of creative art and an essential component for various professionals, such as models, artists, photographers, and actors.

Starting this business allows you to provide makeup services for special occasions like weddings and birthday events. Additionally, you can offer makeup training classes to generate extra income. With the right skills and a passion for beauty, you can turn your love for makeup into a successful business venture.

15. Laundry Service The laundry service business is a profitable small-scale business that requires minimal technical skills. In a fast-paced society, many people have little time to spare for laundry, making laundry services in high demand.

To start a laundry service, find a favorable location in a busy area, especially near offices where professionals have limited time for laundry. Start with a small team and gradually expand as your customer base grows. Providing quality service and timely delivery will help you build a loyal clientele.

Related: Learn How to Use A Shipping Cost Calculator in 5 Minutes

16. POS Business The Point of Sale (POS) business provides a fast and convenient alternative to traditional banking. Instead of queuing for hours at the bank or ATM, people can now conduct basic financial transactions at a POS machine, saving them time and effort.

Starting a POS business involves setting up stands or shops in strategic locations. By offering quick withdrawals and other financial services, you can attract customers and earn a fee on each transaction. Establishing a chain of POS stands across different areas can further expand your business and increase profitability.

17. Hair Dressing Business Hairdressing is an evergreen small-scale business opportunity. People always strive to keep their hair in the best shape possible, making hairdressing services in high demand.

To open a hairdressing salon, you need to be a professional hairstylist or employ skilled hairstylists. Offering quality hairdressing services and recommending hair care products to clients can help you build a loyal customer base. Additionally, you can train apprentices and sell hair products for extra income.

18. Barbing Salon Business Barbing, like hairdressing, is another thriving small-scale business opportunity. Men need regular haircuts and grooming services, making barbing salons a necessity in every neighborhood.

To start a barbing salon, you need to acquire the necessary skills or hire skilled barbers. Providing quality services, selling grooming products, and offering training can help your barbing salon stand out and attract a loyal clientele.

19. Ice Block Production In Nigeria, where power supply is often unreliable, ice blocks are a necessity for cooling food and drinks. Ice block production is a steady business with a high demand, especially in areas with limited access to electricity.

To start an ice block production business, you will need to invest in the necessary equipment, secure a suitable factory site, hire staff, and arrange for efficient delivery. Providing quality ice blocks at competitive prices will help you establish a strong customer base.

20. Catering Services Catering services go hand in hand with event management. Weddings, seminars, and other events require delicious meals and professional catering services.

To start a catering business, you need to have excellent cooking skills and a wide network of suppliers. Building a reputation for delivering top-notch service and creating mouthwatering dishes can help you secure contracts for various events. Embracing digital platforms to showcase your work and widen your reach is also crucial for success.

21. Pure Water (Sachet Water) Production Business Pure water, also known as sachet water, is an essential commodity in Nigeria. It is a cost-effective and convenient option for clean drinking water, making it a staple in households, offices, and events.

To start a pure water production business, you will need to obtain the necessary permits and licenses, invest in water treatment equipment, and secure a reliable distribution network. Ensuring strict adherence to quality standards and providing prompt delivery will help you build a reputable brand.

22. Photography Business Photography is a fun and profitable small-scale business that can be started with minimal investment. In today's digital age, the demand for professional photographers is high, with individuals and businesses seeking captivating images for various purposes.

To start a photography business, invest in a good camera, learn the art of photography, and offer your services to clients. You can specialize in events, portraits, landscapes, or even sell your images online through platforms like iStock Photo and Etsy.

23. Social Media Marketing Business With the increasing popularity of social media, businesses and brands are looking for ways to maximize their online presence. Starting a social media marketing business allows you to help businesses reach their target audience and achieve their marketing goals.

To succeed in this business, you need a good understanding of various social media platforms and the ability to create engaging and effective campaigns. Moreover, having great graphic designers at your beck and call is crucial. By providing innovative marketing strategies, collaborating with talented graphic designers, and expertly managing social media accounts, you can help businesses not only grow their online presence but also generate more leads.

24. Road Transport Business The road transport sector in Nigeria is a thriving industry, with millions of people relying on road transportation for their daily activities. Starting a road transport business allows you to cater to the transportation needs of individuals and businesses.

The scope of your road transport business can vary depending on your capital level. You can choose to focus on intra-state movement within a city or expand to inter-state transportation. Providing safe and reliable transportation services and building a strong network of drivers and vehicles will contribute to the success of your business.

25. Blogging Blogging is a creative and profitable business that allows you to share your passions, knowledge, and expertise with the world. It is a platform where you can engage with a global audience and generate income through various monetization strategies. I mean look at where blogging took Linda Ikeji , Bella Naija , and Sisi Yemmie .

To take your blog to the next level, start by choosing a niche that you are passionate about and creating valuable and engaging content for your target audience. Consistency and quality are essential for building a successful blog, but you can also explore additional strategies like leveraging Google Ads and affiliate marketing. By adding these advanced techniques, you can further monetize your blog and enhance its potential for success while maintaining a strong online presence.

25. Ice Cream Production Business Ice cream remains one of the most popular snacks and confectioneries worldwide. In Nigeria, the demand for ice cream is high, with adults and children consuming it regularly.

To start an ice cream production business, you will need to invest in the necessary equipment, secure a steady distribution system, and create unique flavors to cater to different tastes. Building a reputable brand and delivering high-quality ice cream will help you capture a significant share of the market.

26. Tiger Nut Drink Production Tiger nut drink, also known as " kunun aya " in Nigeria, is a natural and nutritious beverage made from tiger nuts. It is rich in nutrients and offers numerous health benefits, making it a popular choice among consumers.

Starting a tiger nut drink production business allows you to tap into the growing market for healthy and natural beverages. You can distribute your product to eateries, local food stores, and supermarkets. Providing a quality product and effective marketing will help you build a loyal customer base.

27. Hibiscus Drink Production Hibiscus drink, popularly known as " zobo " in Nigeria, is a refreshing and healthy drink made from dried Roselle plant flowers. It is sugar-free and offers various health benefits, making it a favorite among children and adults.

Starting a hibiscus drink production business allows you to produce and distribute this popular beverage. With the right marketing strategy and distribution channels, you can establish a strong presence in the market and cater to the growing demand for healthy drinks.

28. Scrap Metal Collection Business Collecting and recycling scrap metal is not only profitable but also contributes to environmental sustainability. The scrap metal collection business involves gathering scrap metal materials and selling them to recycling companies.

To start a scrap metal collection business, you will need to invest in the necessary tools and equipment, such as trucks and magnets. Building a network of collectors and establishing relationships with recycling companies will help you maximize your profits.

29. Fashion Boutique Business The fashion boutique business is a signature industry in most Nigerian towns and cities. Despite existing competition, there is always room for new entrepreneurs to make their mark in the industry.

To succeed in the fashion boutique business, focus on offering trendy and fashionable items that resonate with your target market. Establishing a strong online presence and leveraging social media platforms can help you reach a wider audience and boost your sales.

30. Sports Betting Business Sports betting has become a popular form of entertainment and an opportunity for entrepreneurs to make profits. Nigerians, like many people around the world, enjoy betting on their favorite sports events.

Starting a sports betting shop or a chain of bet shops allows you to tap into the lucrative sports betting market. While this business comes with risks, it offers endless possibilities for growth and profitability.

31. Beer Parlour Business After a long workday, many Nigerians like to unwind at beer parlors, enjoying a few bottles of beer and local delicacies. Starting a beer parlour business allows you to cater to this need for relaxation and socializing.

To start a beer parlour, secure a suitable location, create a cozy ambiance, and offer a variety of beers and snacks. Providing excellent customer service and promoting a friendly atmosphere will attract customers and keep them coming back.

32. Frozen Foods Business The frozen foods business is a lucrative venture in the food processing industry. Frozen foods, such as fish, meat, chicken, turkey, and vegetables, are in high demand in Nigeria.

To start a frozen foods business, you will need to invest in a reliable supply chain, secure storage facilities, and establish relationships with retailers and food vendors. Providing high-quality frozen foods and ensuring timely delivery will help you build a strong customer base.

33. Egg Distribution Business Eggs are a nutritious food staple that is consumed by people of all ages. Starting this business allows you to supply eggs to retail shops, restaurants, and food vendors.

To succeed in the egg distribution business, you will need to establish relationships with poultry farmers, ensure timely delivery, and provide competitive pricing. Offering fresh and high-quality eggs will help you build a strong reputation and attract loyal customers.

34. Logistics and Delivery Business The rise of e-commerce has created a significant demand for logistics and delivery services. Many businesses now rely on delivery personnel to transport their products to customers in a timely and efficient manner.

Starting a logistics and delivery business requires careful planning and investment in transportation vehicles and logistics management systems. Building a strong network of reliable drivers and providing excellent customer service will help you thrive in this competitive industry.

Sha don't start shipping from the U.S. and U.K. to Nigeria and put us out of business o.

35. Pastries Production Business Pastries, such as pies, croissants, muffins, and doughnuts, are a popular choice for snacks and desserts. Starting a pastries production business allows you to cater to the demand for these delicious treats.

To succeed in the pastries production business, you will need to develop unique recipes, source quality ingredients, and invest in baking equipment. Building relationships with retailers and promoting your pastries through digital platforms can help you reach a wider audience and boost sales.

36. Dropshipping Business Dropshipping is a business model that allows you to sell products without having to hold any inventory. Instead, you partner with suppliers who handle the fulfillment and shipping processes.

To start a dropshipping business, you will need to identify a profitable niche , build an online store, and establish relationships with reliable suppliers . With the convenience of running your operations remotely, you can manage this business from the comfort of your own home. Promoting your products through social media and online advertising can help you attract customers and generate sales.

Lucky for you we have a detailed guide that works you through starting your dropshipping business and even earning 7 figures in no time!

37. Mini-Importation Business Mini-importation is an online-based business that involves importing and selling goods in your country of residence. It offers opportunities to provide consumers with quality products at competitive prices.

To start a mini-importation business, you will need to identify reliable foreign online stores, choose quality products, and navigate customs regulations. Developing a solid business plan, including strategies for sourcing products, managing logistics, and understanding market demand, will help you succeed in this business.

In Nigeria, the opportunities for small-scale businesses are endless. Whether you choose poultry farming, rental services, or photography, success is within your reach. Embrace your entrepreneurial spirit, identify your passion, and start your journey towards building a thriving business. With dedication, hard work, taking advantage of free shipping on Black Friday , and a customer-centric approach, you can unlock the doors to entrepreneurial success in Nigeria's dynamic business landscape.

Related: How To Start A Phone Selling Business In Nigeria

As you grow through referrals and sales, Heroshe has your back. Ship your items from the U.S. and U.K. to Nigeria and Ghana for only $8 per pound with no hidden fees. You can buy quality products from websites like Amazon , eBay , get products delivered to your doorstep, and resell to clients without stress!

To begin, you can watch our video explaining the process or sign up right away . And if you are looking to scale up to mini importation, we have a comprehensive guide available for you to read and get started .

These are only thirty-seven out of the long list of good business ideas to start in Nigeria. Find a lot more valuable insights on the Heroshe blog. Don't miss out— subscribe now for in-depth advice on growing your small business!

Frequently Asked Questions About Small Businesses In Nigeria

Which business is best to start? A: The best business to start varies depending on individual factors like interests, skills, and market demand. However, one particularly promising option is starting an e-commerce store. With the increasing trend of online shopping, an e-commerce business allows you to reach a wide audience and operate with lower overhead costs compared to traditional brick-and-mortar stores. You can choose to sell products in various niches, from fashion and beauty to electronics and home goods, based on your expertise and market research.

Q: What business can I start with 50,000 Naira? A: With 50,000 Naira, you can consider starting a small-scale food vending business. For example, you could focus on selling popular snacks like puff-puff, chin-chin, or small chops in busy areas like markets, schools, or office complexes. This business requires minimal investment in ingredients, equipment, and permits, and has the potential for quick returns, especially if you offer high-quality products and excellent customer service.

Q: What business can I start with 200,000 Naira in Nigeria? A: With 200,000 Naira, you could venture into the mobile phone repair business. You can use the funds to purchase essential tools, equipment, and initial stock of spare parts. With the increasing reliance on smartphones and other mobile devices, there's a consistent demand for repair services. You can operate from a small shop or even offer on-the-go repair services, catering to customers in your locality or through referrals.

Q: What is the fastest business to start? A: One of the fastest businesses to start is freelance writing. If you have strong writing skills and expertise in specific subject areas, you can offer your services to businesses, websites, or individuals in need of content creation. Platforms like Upwork , Fiverr , and Freelancer allow you to quickly set up a profile and start bidding on projects. With consistent effort and high-quality work, you can build a solid client base and generate income relatively quickly.

Q: What is the cheapest and most successful business to start?

A: Dropshipping is one of the cheapest and most successful businesses to start. With dropshipping, you don't need to invest in inventory upfront. Instead, you partner with suppliers who handle inventory and shipping. You set up an online store, list products from your suppliers, and market them to customers. When a customer places an order, the supplier ships the product directly to them, and you earn a profit margin. This model minimizes financial risk and allows you to focus on marketing and customer service.

Q: What is the most profitable business to start from home? A: Starting a home-based catering business can be highly profitable. You can leverage your culinary skills to prepare and deliver meals for events, parties, or individuals. By operating from home, you save on overhead costs associated with renting a commercial kitchen or storefront. With effective marketing through social media, word-of-mouth referrals, and networking with event planners, you can attract clients and generate substantial income while enjoying the flexibility of working from home.

Q: What small business is best to start with? A: A boutique coffee shop can be an excellent small business to start. By focusing on quality coffee and creating a cozy ambiance, you can attract a loyal customer base. Offering specialty drinks, pastries, and light snacks can further enhance your appeal. With careful location selection, unique branding, and exceptional customer service, you can differentiate your coffee shop from larger chains and establish a thriving business within your community.

Q: What little business can I start in Nigeria? A: Starting a small-scale bakery can be a lucrative venture in Nigeria. With the growing demand for baked goods like bread, pastries, and cakes, you can cater to both individual customers and wholesale clients such as restaurants, cafes, and supermarkets. With 50,000 Naira, you can invest in basic baking equipment and ingredients to get started. By focusing on quality, freshness, and innovative product offerings, you can build a successful bakery business over time.

Q: What business gives daily income in Nigeria? A: Offering delivery services with motorcycles can provide daily income in Nigeria. With a motorcycle and proper licensing, you can provide convenient and affordable delivery options for people looking to deliver items within your locality. By operating strategically in busy areas or along popular routes, you can generate steady income from fares throughout the day.

Afolabi Ojabowale

Ojabowale Afolabi is the content marketing lead at Heroshe. I have a deep passion for telling brands' stories to educate their audiences across a breadth of media and content forms.

• Lagos, Nigeria

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10 Unexplored and Unique Business Ideas in Nigeria

The Nigerian business industry is booming at a high rate. This is because many unique business ideas, mostly online, have started springing up and becoming familiar in the business space in Nigeria. These unique business ideas have actually existed in the Nigerian business space for a while now but with little recognition. However, the effect of the COVID-19 pandemic, which caused many people to lose their jobs, made them begin the search for business ideas that would last them a long time.

The interesting thing about these unique business ideas is that they are very simple and affordable. Some of them are even online and don’t require inventory or stock to run. These unique business ideas are good business ideas for newbies who want to make money online as a side hustle with their 9 -5 job or as a full-time business. Most 9-5ers are starting to understand that their salaries aren’t enough to sustain them, so they are actively looking for better sources of income. If you are in any of these categories, then this is for you.

In this post, I’ve selected 10 unique business ideas that you can start as a side hustle or a full-time business, online or offline or both. The beauty of this is that you can start some of these businesses with as low as N20,000 in this current economy.

Table of Contents

10 Unique Business Ideas in Nigeria for Nigerians

Selling popcorn.

This is one of the most unique business ideas with high potential and low exploration. Many people have the mentality that this business is for poor people. What they don’t understand is that people involved in this business are making a lot of money from it. 

To start this business, you only need to buy the popping machine, corn and electricity. Then you can position yourself at a place where lots of people would pass through, make the popcorn and start selling. You don’t have to worry about packaging at the start. Once you have a solid customer base, you can brand your packaging and even start exploring flavours. People like trying new things, so they’ll definitely patronise you.

Affiliate marketing

This is also a unique business idea with little exploration in Nigeria. This is because even as popular as this business is, most people do not believe in it. Many people still think of this business as a scam or an MLM scheme. This is the reason why only a few people are involved in it. 

You can effectively start affiliate marketing online where you create affiliate links for a product for easy tracking. To make money through this business idea, you need to pick a product that resonates with a specific audience that you already have or be ready to create. You’d also need strong marketing skills to market other people’s products. After making a sale of the product, you get a particular commission from that sale. The more convincing you are and the more products you can sell, the richer you’ll get. 

Bead making

This unique business idea is a bit stressful but worth it. Although it requires some level of skill, it is not something difficult to know and start. Simply meet with an expert that is willing to teach you, learn how to make beads and start making your beads for sale. You can also add a bit of creativity and make very unique designs that would interest your buyers. 

You can start bead-making with as low as N10,000. If you’re very creative with your designs and launch impressive campaigns and adverts, you could make a lot of money with this business.

Read also: Businesses you can start with less than 50K in Nigeria

Dropshipping

This unique business idea is online and similar to the affiliate marketing business. The similarity is in the fact that you need to advertise other people’s products by adding your profit to them. In dropshipping, you decide on the amount of profit you want to add to the price of the product. You cannot do this in Affiliate marketing. In affiliate marketing, only the owner of the product can set the percentage of his profit that you would get a commission for selling his product for him.

Start by growing an audience, find a product that you know your audience would like, advertise the product to them, and add your profit to the price of the product, when a customer requests that product, send the request to the seller of the product, send the money for the product to the seller after removing your profit, the seller sends the product to the customer in your name. At the end of the process, you have made a profit without even owning a product. All you need for this unique business idea to work for you is a product, a reliable seller, an audience and good marketing skills. 

Read also: Digital marketing platforms for Nigerian Businesse s

Soap making business

This business is very popular and can make you very rich but sadly it is almost non-existent. This is because people believe that the process of making the liquid soap is very stressful and there’s no point venturing into the business. Whereas, this is one of the easiest unique business ideas in Nigeria. 

You only need to learn how to make the soap, get containers of varying or uniform sizes, depending on your target market, advertise to people and start selling. To make your product stand out, you can customise the container, use a unique perfume, and start supplying it to supermarkets. You can start this business small with as low as N10,000.

Drop servicing

This is actually a newly discovered and unique business idea. It is similar to the dropshipping business model. The only difference is that what you are advertising and making available to people is a service and not a product. 

Here, you would need to source qualified service providers which could range from a social media marketer and graphic designer to in-person services like barbing. Just find someone that needs the services, take the job as if you are the one rendering the service, outsource it to someone that can provide the service, pay the person you outsource it to and deliver the job to the client in your name. The only thing you need to do is to make sure you’re hiring a professional for that service you need and monitor the work.

Smoothies’ business

This is a very good business idea that is still very new in Nigeria. What you need are the right fruit combination, blenders, a refrigerator, creativity for fruit mix and toppings, and the readiness to create awareness about it. If your smoothie is very chilled, people would rush it and you would make money from it.

Virtual assistant

This is a very simple business model that many people do not know. Being a virtual assistant is simply rendering the skills you have to other people as services. These people do not even need to meet you in person before you can render those services to them. 

This unique business idea includes Blog management, online community manager, social media manager, email marketing, online customer, and service representative. The list is not exhaustive. If you don’t have any of these skills, you can learn them online, advertise yourself, and start rendering the service.  

Turban and accessories making

This is also a very unique business idea that requires you to learn how to make it. Turban and accessories making cannot go into extinction because it is a spice in the fashion industry and fashion isn’t going anywhere anytime soon.

Autogele making

People haven’t explored this business idea because most are used to the common traditional stressful tying of gele for their events. When you have an autogele, you can easily wear it and remove it anytime you want. You can learn how to make this gele and start selling them. You can get the aso-oke from the customer and make it into an auto-gele. Or you buy the aso-oke yourself and make it into the gele. To know how to do this, you need to meet up with someone ready to teach you how to make it.

Nigeria is a country full of many unique business ideas because of one thing or the other. Some of the reasons are the type of business, the cost of starting the business and the fear that the business might not bring in a huge income.

Read also: How to overcome the fear of failure as an entrepreneur

However, if you are a 9-5er, you can as well pick any of these unique business ideas as a side hustle to make more money to augment your salary.

Need more business tips? Subscribe to our YouTube channel .

Do you have anything to say about this post? You are free to speak your mind in the comments section. You can also have an audience with Insight.ng via our WhatsApp community as regards business insights.

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50+ Best Business Ideas in Nigeria- Start Now (2024)

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 Are you an aspiring entrepreneur looking for lucrative business ideas in Nigeria?

Do you need a business in which you can invest your money with the possibility of good returns? 

Wondering what good business ideas to start in Nigeria? I got you covered.

This lively country has numerous options for people looking to start their businesses.

As a businesswoman, choosing a good business idea targeted to the Nigerian market is difficult in the face of constant information.

I’ve compiled a list of 53 best business ideas in Nigeria to make your journey easier.

Let’s start your entrepreneurial journey together. 

53 Profitable Business Ideas in Nigeria

Discover 50+ business ideas in Nigeria for 2024. Whether it’s an online or offline service, find the perfect idea to kickstart your entrepreneurial journey.

1. Poultry Farming

Raising domesticated birds like 

• Ducks 

Given the significant demand for these products, meat and egg production is profitable in Nigeria. 

Starting with a moderate capital, poultry farming can be initiated on a small scale at home or on leased land. 

Success in this business hinges on a sound understanding of various breeds, feeding practices, and disease management.

Minimum start-up capital: Moderate

2. Fish Farming

Fish farming is another profitable agricultural business in Nigeria. The country has a large body of water, which makes it suitable for fish farming. 

The business involves rearing fish in ponds, tanks, or cages for commercial purposes. 

The most common fish species reared in Nigeria are tilapia, catfish, and mackerel. 

To succeed in fish farming, it is essential to have proper knowledge of the different species, feeding, and disease control.

Fish farming requires a moderate capital investment and can be started on a small scale. 

3. Snail Rearing

Raising snails is a good business idea to start in Nigeria because many people like to eat snails ( AKA Congo meat ) in the country and other places around the world. 

This business is about taking care of snails to make meat. 

You don’t need much money to start, and you will find it easy to do at home or on land you rent. 

To do well in snail farming, knowing about different snails, how to feed them, and how to keep them healthy is essential.

 Learn how to start Snail Farming in Nigeria: The Ultimate Guide 

4. Livestock Feed Production

In Nigeria, producing animal feed is profitable because so many people need it for their animals. 

This involves preparing food for animals with components such as 

• Cassava 
• Maize. 

Launching this business on a modest scale without a significant financial commitment is possible. 

Here is what you must do to produce quality feed effectively:

• One must comprehend the different components. 
• Know how to combine them correctly.
• know how to package the feed so the animals can eat it for as long as possible. 

With that, you will help Nigeria meet its demand for high-quality livestock feed and make a profit in the process.

5. Fruit Juice Production

Making fruit juice is a good business in Nigeria because many people want to drink it. 

This job involves creating juice from fruits like oranges, pineapples, mangoes, and watermelons. 

To do well in fruit juice production, knowing about different fruits, how to process them into juice, and how to package the juice is essential.

Having the proper knowledge helps you make tasty and healthy fruit juices that will meet the demand in Nigeria.

6. Cassava Farming

Cassava is incredible because you will turn it into flour, starch, and other cool things.

As the country with the highest production of Cassava , Its popularity for use in meals, snacks, and industrial applications makes it a highly sought-after commodity. 

For individuals interested in agricultural pursuits and the production of diverse crop-based products, cassava farming presents an appealing opportunity.

7. Digital Marketing Agency

The increase in demand for digital marketing services indicates a change in how Nigerian firms reach out to customers as they embrace the digital world. 

• Crafting customized plans, 
• Utilizing social media marketing to engage audiences
• Optimizing search engine visibility  
• Implementing email marketing campaigns 

Launching this business on a modest scale without a significant financial commitment is possible. All you need is the skill

8. E-commerce Platform

Starting an online store in Nigeria is an excellent idea because many people there are now shopping online. 

All you have to do is create a website where Nigerians will buy different things. 

You can even team up with nearby shops to sell their stuff online, making it a cool way to help your online store and local businesses grow together.

Success in this business hinges on your ability to find good products to market.

9. Computer Hardware Sales

The computer hardware sales business is a great idea for Nigerians because it aligns with the increasing reliance on technology in the country. 

With a growing computer demand, you will tap into this market by providing products and repair services. 

Nigerians are becoming more tech-savvy, creating a ripe environment for businesses catering to digital needs. 

10. Software Training Center

This business idea is promising in Nigeria due to the rising demand for software skills. 

As technology becomes more integral, offering training in popular software programs and programming languages addresses a growing market.

Entrepreneurs will meet the demand and contribute to the expanding tech industry in Nigeria, making it a potentially profitable venture.

Success in this business hinges on good relationships and a regular electricity supply

11. Educational Services

Nigeria has a growing demand for quality educational services, making it a profitable sector to venture into. 

Here are some educational business ideas that can be explored:

Private tutoring services are in high demand in Nigeria, especially for students preparing for exams. 

This presents an opportunity for entrepreneurs to start a tutoring business.

The business can be started from home or rented, and tutors can be hired part-time or full-time.

12. Graphic and Website Design Service

Website and graphic design services are an excellent way to make money. All you have to do is find the right platform.

In Nigeria, many people and businesses are eager to have appealing websites and eye-catching pictures to showcase what they’re all about.

If you know how to do this on a computer, you can make money because everyone, including businesses, wants to stand out and look fantastic. 

It’s like being the person who knows the secret recipe for making things look fabulous in the digital world.

You can use a website like Canva to start your design. You can find one to work with using freelance sites like  Fiverr ,  Upwork .

13. Educational Material Sales

This is a fantastic business idea in Nigeria because it taps into the growing demand for quality education.

As entrepreneurs venture into selling educational materials like textbooks and study aids, they cater to the needs of students and learners.

In a country where education is highly valued, providing these materials online or in physical stores ensures accessibility for a broad audience.

14. Online Courses and E-learning

This is a stellar business idea in Nigeria because of the rising popularity of online courses and e-learning platforms.

With more people seeking convenient and flexible learning methods, entrepreneurs have a golden opportunity to create and sell online courses. 

This also caters to the demand for diverse knowledge and the current digital trends.

In a country where education is highly valued, online courses will cover a wide array of topics, including technology, business, and personal development, meeting the diverse needs of learners. 

15. Children’s Book Publishing

Starting a business making kids’ books in Nigeria is cool

These aren’t just any books – they’re all about our awesome culture.

 Imagine reading stories that feel like home, right? That’s what we’re bringing to the table.

Parents want their kids to have fun while learning, and that’s where these amazing kids’ books come in.

These books let your imagination run wild. We’re not just helping you learn but boosting your brain’s creativity.

Just imagine every kid with these fantastic books, turning learning into the most incredible adventure ever.

16. Educational Toy Production

Ever thought about making super cool educational toys for kids?

It’s a good idea to make learning fun! Imagine creating toys that teach kids about science, tech, engineering, and math.

Here’s the deal – the educational services world is a whole of unique ideas.

 If you’re thinking of diving in, just research, figure out what’s missing, and create something unique and extraordinary. 

17. Fitness Center

Opening a fitness centre is a fantastic idea in Nigeria for a few excellent reasons. Nigerians are getting into the whole healthy lifestyle, and many are hunting for a spot to get their workout groove on regularly.

A fitness centre isn’t just about lifting weights; it’s creating this incredible hub for people who want to stay fit. 

You’ve got gym gear, personal training sessions, and even excellent group fitness classes.

18. Health Food Restaurant

Opening a healthy restaurant is an excellent idea in Nigeria because more people are embracing eating healthier. 

With the rising interest in well-being, a restaurant focusing on delicious and nutritious meals will thrive. 

Imagine having this spot where folks will enjoy tasty and genuinely healthy dishes – from fresh vegetarian and vegan options to mouthwatering smoothies. 

It’s not just about food; it’s about providing a tasty pathway to a healthier lifestyle, and that’s a recipe for success in Nigeria’s growing health-conscious community. 

19. Yoga and Meditation Studio

Opening a yoga and meditation studio in Nigeria is a fantastic business idea for several reasons. 

First, a growing interest in yoga and meditation reflects a shift towards holistic well-being.

Nigerians increasingly recognise the importance of mental and physical health, creating a ready market for a space that offers yoga, meditation, and mindfulness classes. 

It’s not just about exercise; it’s about providing a sanctuary for relaxation and inner balance.

By offering a variety of classes, your studio becomes a go-to destination for people at different stages of their wellness journey. 

20. Nutritional Supplement Sales

Opening a shop for nutritional supplements in Nigeria is a great business move. 

More and more folks are diving into the health and wellness vibe, and what are they looking for? Yep, nutritional supplements.

So, imagine being the go-to spot for everything healthy – from vitamins to protein powders and other good stuff. 

It’s like having a little corner shop where people pop in to boost their well-being.

It’s not all about selling products; it’s about becoming the place that helps folks on their journey to a healthier life. 

21. Mobile Health Services

Mobile health services are gaining popularity in Nigeria as people seek convenient access to healthcare. 

Starting a business that provides mobile health services, including medical check-ups, vaccinations, and other healthcare services, will be profitable. 

The business can deliver its services to workplaces, schools, and other convenient locations.

Nigeria’s health and wellness sector is a growing industry with numerous opportunities for entrepreneurs. 

You will tap into this expanding market and build successful businesses by offering services that promote health and wellness.

22. Boutique

There is always going to be people looking to wear clothes. 

Your shop will be like a cool place where people find all sorts of clothes they like, both old-fashioned and new.

Stay stylish, be special. If you keep up with what’s popular and offer different and exceptional clothes, many people will want to come to your shop.

Be friendly to customers. If you treat people well, they’ll want to return to your shop repeatedly.

23. Beauty Salon

For several reasons, starting a beauty salon in Nigeria’s fashion and beauty industry is a good business idea. 

Firstly, beauty services like haircuts, manicures, and pedicures are in constant demand, making it a lucrative market. 

Hiring skilled and experienced staff contributes to the quality of services, fostering customer satisfaction and building a positive reputation. 

Creating a welcoming atmosphere enhances the customer experience, encouraging repeat business and positive word-of-mouth referrals.

24. Fashion Design

Starting a fashion design business is an excellent idea for several reasons.  

it allows individuals with a passion for fashion to turn their creativity into a fulfilling and potentially lucrative venture. 

Creating and selling unique clothing designs caters to a market that appreciates individuality and distinctive styles.

A strong understanding of fashion trends is crucial to staying relevant and meeting consumer preferences. 

Producing high-quality, fashionable clothing items not only attracts customers but also builds a positive brand reputation.

25. Cosmetics Sales

For a few reasons, starting a cosmetics business in Nigeria is a fantastic idea. 

The beauty industry is thriving, and a growing demand for cosmetics, including makeup, skincare, and hair care products. 

Nigeria’s diverse population offers a broad customer base with varying beauty needs and preferences.

High-quality products are crucial for success, as customers appreciate effective and reliable beauty items. 

The Increasing focus on beauty and self-care makes the cosmetics industry profitable, with the potential for steady growth and success.

26. Fashion Accessories Store

Starting a fashion accessories store is a fantastic business idea because it taps into people’s love for personal style. 

By selling various accessories like jewellery, handbags, and hats, you cater to diverse fashion preferences. 

The key is to offer unique and trendy items, attracting customers who seek distinctive pieces to enhance their outfits.

The dynamic fashion accessories market allows for a wide range of product offerings and pricing points.

27. Photography

Photography is a lucrative business in Nigeria for several reasons. 

The country has a growing population with an increasing demand for professional photography services, including events, portraits, and commercial photography.

As people embrace social media, there’s a rising need for quality visuals, creating opportunities for photographers. 

Nigeria’s diverse culture and landscapes offer unique and varied subject matter, attracting clients. 

A photography business can thrive in this dynamic market with effective marketing and a focus on quality.

28. Pos Business

Running a Point of Sale (POS) business in Nigeria is promising for several reasons. 

The increasing adoption of digital payments, the government’s emphasis on financial inclusion, and the growing population contribute to a rising demand for convenient payment solutions. 

The POS business allows entrepreneurs to tap into this demand, bridging cash and digital transactions.

With the potential for scalability and offering a valuable service in a cash-driven economy, a POS business in Nigeria is a lucrative and socially impactful venture.

29. Car wash 

A car wash business is a solid idea for various reasons.

First, as car ownership increases, so does the demand for car care services. 

Urban lifestyles often leave individuals with limited time for self-car washing, creating a market for professional services. 

With environmental concerns, people prefer water-efficient and eco-friendly car wash options, providing an opportunity for sustainable practices. 

A well-located and efficiently managed car wash business will attract a steady flow of customers, making it a viable and potentially profitable venture.

30. Cleaning Service

Due to several factors, starting a cleaning service in Nigeria is a promising business idea. 

The busy urban lifestyle often leaves individuals with limited time for household chores, creating a demand for professional cleaning services. 

Small and large businesses require regular cleaning, presenting opportunities for commercial contracts. 

The emphasis on hygiene and cleanliness in various sectors, including healthcare and hospitality, further boosts the demand for cleaning services. 

A business will establish a steady clientele and thrive in this market by providing reliable, efficient, and thorough cleaning solutions.

31. Food Delivery Service

A food delivery service is a strong business idea for several reasons.  

Changing consumer lifestyles and the convenience culture have increased the demand for ready-to-eat meals delivered to one’s doorstep. 

The fast-paced urban life often leaves individuals with limited time for cooking, creating a significant market for food delivery. 

Also, the rise of online platforms and mobile apps makes it easier for businesses to reach a broader audience. 

With effective marketing and timely deliveries, a food delivery service 

Will tap into this growing market, offering convenience and variety to customers and establishing a profitable business model.

32. Tricycle  Repair

For several reasons, starting a tricycle repair business is lucrative in Nigeria. 

Tricycles, also known as keke, are widely used for transportation in many urban and suburban areas. 

The high demand for tricycle transportation means a constant need for maintenance and repairs. 

Tricycles are essential for commuting; their owners are likely to invest in keeping them in good working condition. 

You will tap into this demand by offering reliable and efficient repair services, creating a sustainable business. 

33. Pet Business 

A pet business is a good idea for various reasons. There’s a growing trend of pet ownership.

Pet owners often seek high-quality food, grooming services, and accessories, creating a diverse market. 

Also, pets become integral parts of families, and there’s a willingness to invest in their well-being, leading to opportunities in pet healthcare and specialized services. 

With the proper marketing and a focus on customer satisfaction, a pet business will cater to this expanding market, providing essential services and products for pet owners.

34. Personal Chef Service

For several reasons, becoming a personal chef in Nigeria is a rewarding business idea. 

The hectic urban lifestyle often leaves individuals with limited time for cooking, creating a demand for personalized and convenient culinary services. 

Offering tailored meals to clients for special occasions or regular needs allows for a personalized and intimate culinary experience. 

35. Phone Repair Services

Starting a phone repair service is a sound business idea. The widespread use of smartphones makes repair services essential, given the likelihood of device damage or malfunctions. 

Replacing phones is often higher than repairing them, making repair services a cost-effective option for many consumers.

A phone repair business can build a solid reputation and establish a steady customer base in this growing market by offering reliable and efficient repairs.

36. CyberCafe and Business Center

Not everyone can access personal computers and reliable internet connections, making CyberCafes essential for those seeking online services. 

Internet access is consistently demanded due to the increasing reliance on digital platforms for communication, education, and business transactions. 

CyberCafes provides a convenient solution, catering to individuals without home internet or those needing additional access.

In a country with rising technology usage, a well-managed CyberCafe can serve as a valuable community resource and generate steady revenue.

Related Post: How to Start a Cyber Cafe Business in Nigeria: A Comprehensive Guide

37. Wallpaper Business

Starting a wallpaper business is smart due to the rising demand for customizable and visually appealing wall coverings in interior design. 

Advances in printing technology make it accessible, and the growing real estate and home improvement sectors provide a steady market for such decorative products.

38. Solar Installation Business

The increasing demand for renewable energy solutions and the desire for energy independence create a growing market. 

With advancements in solar technology and government incentives for clean energy, there’s a favourable environment for the solar industry.

The need for reliable and sustainable power sources, especially in regions with unreliable electricity grids, makes solar installations a practical and sought-after service. 

Entrepreneurs in this field can contribute to environmental sustainability while meeting the rising demand for efficient and cost-effective energy solutions.

39. Gas Cylinder service

Supplying gas cylinders in Nigeria is a good business idea because there is a growing demand for cooking gas as an alternative to traditional fuels. 

The Nigerian government’s initiatives promoting clean cooking solutions contribute to the increasing adoption of gas cylinders. 

Entrepreneurs in this business can tap into the residential and commercial markets, offering a vital product for cooking and generators.

A well-managed gas cylinder supply business can establish itself as a trusted source, meeting the rising demand for this essential commodity.

40. Ice Block Production

Ice block production is a lucrative business idea for several reasons. The demand for ice blocks remains consistent, driven by the need for cooling in various industries, including food and beverage, healthcare, and events.

Nigeria’s warm climate enhances the demand for cooling solutions, making ice blocks a vital commodity. 

The unreliable power supply in some areas also increases the reliance on alternative cooling methods like ice blocks.

As long as there’s a demand for cooling solutions, an ice block production business can provide a reliable and profitable service in the market.

41. Interior Decoration

Interior decoration is a great business idea due to the growing demand for personalized and visually appealing spaces. 

With the expanding real estate and home improvement sectors, there’s a consistent market for skilled decorators. 

The influence of social media on design trends further enhances the demand for creative and customized interior decoration services.

Launching this business on a modest scale and without a significant financial commitment is possible. All you need is the skill

42. Cyber Security Service

The increasing reliance on digital platforms and the rise in cyber threats create a high demand for robust security solutions.

Businesses and individuals store sensitive data online, and the need for protection against cyber-attacks becomes critical. 

High-profile breaches and increasing awareness of cybersecurity risks contribute to a growing market.

With the potential for substantial impact and the continuous evolution of cyber threats, offering cybersecurity services presents a lucrative and essential business opportunity in Nigeria.

43. Blogging

The growing internet penetration and increased access to online content create a substantial blog audience.

As businesses and individuals seek online visibility, there’s a demand for valuable and relevant content, opening up opportunities for skilled bloggers. 

Monetization options, such as:

• Affiliate marketing, 
• Sponsored content, 
• Ad revenue, 

With dedication and strategic content creation, blogging can serve as both a creative outlet and a profitable venture in the Nigerian digital landscape.

This is what I do for a living, as I love it.

44. Online advertising agency

Starting an online advertising agency is a sound business idea for various reasons.

The increasing digitalization of businesses and consumer activities creates a growing demand for online visibility and marketing.

Businesses recognize the effectiveness of online advertising in reaching their target audiences. 

The flexibility and precision of online advertising allow for targeted campaigns, making it a preferred choice for many organizations.

45. Social Media Management business

Social media management is also a great business idea.

Businesses increasingly recognize the importance of a solid social media presence for brand visibility and customer engagement.

The dynamic nature of social media platforms and the need for consistent and strategic content creation create a demand for professional management services.

Many businesses, especially smaller ones, may lack the expertise or time to handle their social media effectively, presenting an opportunity for social media management services.

Between YouTube, Instagram, Facebook Messenger, TikTok, and all the other social networks available, businesses need help managing their accounts.

46. Guest room business

The country’s growing tourism sector and increasing business activities create a demand for comfortable and affordable accommodation options.

With the rise of online travel platforms, the visibility of guest rooms has significantly increased, providing opportunities for business owners to attract a broader audience.

Nigeria’s cultural diversity and various attractions make it a destination for both domestic and international travellers, contributing to the potential success of a guest room business.

47. Higher purchase business

Launching a higher purchase business is beneficial for several reasons. 

It enables individuals without immediate funds to acquire goods or services through instalment payments, broadening the customer base. 

These businesses often focus on vehicles and tricycles. 

Higher purchase options offer a flexible payment structure in economies with diverse income levels, making products accessible to a broader customer range. 

By implementing robust risk management and thorough customer assessments, higher purchase businesses can ensure financial sustainability while providing a valuable service to those in need.

48. Real Estate Agent

Starting a real estate agent business is a solid idea. 

The continuous demand for housing and property transactions ensures a steady market.

The complexity of real estate transactions often requires professional guidance, making real estate agents indispensable for buyers and sellers.

The commission-based model in real estate allows agents to earn income directly tied to successful deals, providing financial motivation.

49. Soap Making Business 

A constant demand for soap, a household essential, ensures a consistent market.

The increasing preference for natural and handmade products makes a growing niche for artisanal soaps. 

Soap-making can be started with relatively low initial investment and equipment, making it accessible for small-scale entrepreneurs. 

The customization options in terms of ingredients and scents provide creative opportunities.

50. Rental Business

Starting a rental business in Nigeria is a practical choice due to the high cost of purchasing items and diverse market needs. 

The flexible rental model allows entrepreneurs to serve various industries, ensuring a steady income stream, especially for ongoing needs like construction equipment or events. 

With effective management and marketing, it can be a lucrative venture.

51. Gym business

Starting a gym business in Nigeria is great because of the increasing health and fitness awareness.

Gyms can address concerns about sedentary lifestyles by providing a convenient and structured environment for physical activity. 

Offering diverse fitness programs and additional services allows gym owners to cater to a vast clientele, making it a thriving venture in Nigeria.

52. Sports betting business

Thinking about sports betting as a business idea has its merits. First, the widespread love for sports brings in a diverse crowd, attracting fans from all walks of life.

And thanks to online platforms, joining in has become a breeze – you can do it from your couch or phone.

The thrill and fun of sports betting make it a hit among those looking for an interactive experience.

Plus, the chance for big profits, both for the betting platform and players, adds to the excitement. 

Remember that keeping things legit, ethical, and responsible is key in the sports betting game.

53. Forex trading

There are benefits to considering FX trading as a possible source of income. 

There are many opportunities to purchase and sell currencies on the foreign exchange market, a significant actor in the world economy.

And the best part? You can start trading forex around the clock, regardless of your schedule or time zone.

Technology advancements have made trading forex more accessible than ever. Online platforms and tools make it achievable with not-so-huge starting investments.

FAQ – Best Business Ideas in Nigeria

Which Business is Trending in Nigeria?

Based on the search results, several businesses are currently trending in Nigeria.

The non-oil sector contributes to the growth of the country’s GDP, and some of the fastest-growing sectors in Nigeria in 2022 include the industrial sector, retail sector, and livestock farming.

What is the Best Business to Start in 2024?

The best business in 2024 in Nigeria would depend on various factors, including the entrepreneur’s skills and interests, market demand, competition, and available resources.

However, some of the most promising business ideas for 2024 in Nigeria include 

• E-commerce, 
• Fintech, 
• Renewable energy, 
• Health and wellness, and 
• Digital Marketing
• A restaurant
• A grocery store
• A transportation company
• A manufacturing company

Also Read:  How to Start a Shawarma Business in Nigeria

What Business Can I Start as a Student in Nigeria?

Starting a business is never easy; there are many hurdles to overcome, requiring lots of patience. Businesses need you to have the proper knowledge, attitude, capital access, and more.

Business students can start in Nigeria with little or no investment. These businesses are ideal for students because they don’t require much money to start and run from home.

• Freelancing
• Content creation
• Social media management

Enjoy this post on Lucrative Business Ideas in Nigeria ?  Let us know in the comment section.

Mina is a personal finance writer and entrepreneur with a deep love for technology in the business world.

She is not only a successful, tech-savvy businesswoman but also a dedicated mentor, guiding aspiring entrepreneurs in Nigeria.

Explore her work and be inspired by her journey of leveraging tech innovation for business success in Nigeria.

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Business ideas in Nigeria: 50 workable opportunities in 2022

Nigeria is among Africa's most vibrant economies. Still, the country is plagued by numerous problems, one of which is rampant unemployment. This has led countless people to pursue self-employment in the form of wide-ranging business ventures. Like in numerous other countries, some businesses perform better than others due to various factors. Which are the top business ideas in Nigeria today?

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Whether you are looking for a full-time self-employment venture or a small-scale business in Nigeria to serve as a side hustle, there are numerous businesses with which you cannot go wrong.

The best business ideas in Nigeria in 2022

Here is a look at some great business opportunities in Nigeria.

1. Livestock farming

One of the fast business opportunities in Nigeria is livestock farming. However, this industry is yet to discover its fullest potential.

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For this business , you will need some patience and knowledge and enlist the services of a livestock rearing specialist. Some of the niche areas that you can venture into include catfish farming, poultry farming, cattle grazing, goat rearing, and snail farming.

2. Blogging

It might not be an entirely new idea, but blogging has not been commercialized enough in Nigeria, as is the case in more developed countries. When implemented correctly, blogging can easily be one of the most profitable online businesses due to the numerous monetization options.

Becoming a blogger can be a good source of income from the comfort of your home. All one must do is find a niche and target the right audience.

3. Agricultural product exportation

Nigeria has a remarkably vibrant agriculture sector. You can start your own exportation business if you register with the Export Promotion Council of Nigeria and decide on the specific product you would want to export. Some of the products in high demand abroad include cassava flakes, cocoa, yam flour, groundnut, chilli peppers, cashew nuts, mango, and many others.

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4. Health and fitness training

Health is something most people do not take for granted in the modern day. As a result, you can make money if you can turn health and fitness into a business. There are not so many well-equipped gyms, especially in small towns.

If you can get your hands on some capital, put in place a state-of-the-art gym, and your business will be a success story in no time. You will, however, have or hire someone who has the right skills to train people.

Are you looking for a lucrative business in Nigeria? Then you should consider venturing into the mining industry . Nigeria is endowed with numerous mineral resources. Some of the common ones include coal, iron ore, limestone, bitumen, and others. The Nigerian mining sector has constantly been growing, paving the way for new investments.

If you have access to some significant capital outlay, a skilled and knowledgeable team, and a ready market, you could venture into this lucrative industry.

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6. Private refinery business

The oil and gas sectors are essential in Nigeria. Most of the country's tycoons are involved in the sectors in one way or the other. While it can be quite profitable, the oil industry is also quite expensive to venture into. If you have sufficient capital to start a private refinery , you will benefit greatly from the government's numerous subsidies and other monetary incentives.

7. Social media marketing

You probably spend a lot of time on Twitter, Instagram, Facebook, and other social media platforms. However, you may not know that you can earn while interacting with your buddies and fans online. Monetize your social media accounts by making them a platform for others to advertise their products. For example, if you have many followers on Facebook or YouTube , you can learn how to activate ads and get paid per view.

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8. Uniform sewing

If your hobby has anything to do with sewing or textiles, and you would not mind doing it for a living, then you should probably try out the uniform sewing business . There are plenty of schools in every state, and they all need uniforms for their students. This high demand makes uniform sewing one of the best small business ideas in Nigeria.

Additionally, there are also a lot of corporate organizations whose employees also wear uniforms – for example, the security staff. After setting up the business, you can promote your venture and make good money from this business.

9. Freelance writing

Excellent writing is in high demand across various sectors nowadays. For a beginning, you can look for freelance opportunities online or write for a company which sources tasks from clients. The benefits of this job are countless, with the main one being the freedom to work from anywhere.

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Later, when your business grows, you can hire other writers and start your small freelance company. If you have a way with words and can come up with engaging content, this is among the best businesses you can try.

10. Freelance accounting and bookkeeping

An accounting or bookkeeping start-up is one of the best business ideas in Nigeria for those that have the skill, of course. But first, you must become an accredited accountant and earn the prerequisite exposure to handle clients effectively.

11. Call centre/agency

The call centre business has become quite popular nowadays. There are lots of people who need assistance, guidance, advice, or want to complain about services or products. Therefore, you can set up a call centre/agency and work for large companies according to contracts.

This business will typically require little start-up capital unless you intend to hire more workers.

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12. Recruitment agency

Nigeria suffers from massive unemployment, with millions of people in a desperate search for jobs. You By starting a recruitment agency , which will connect job seekers to the available opportunities. All you need to do is to collaborate with the different companies and individuals looking to hire people.

Your recruitment agency can grow and expand with time, depending on how well you can read the job market.

13. Beauty salon and spa

Nigeria's beauty industry has undergone a massive transformation in the recent past with increased demand for cosmetic products and services. And this is a good business opportunity for you to tap into. If you set up a beauty salon or a barbershop/beauty salon/spa and offer great services, you might just land yourself numerous clients.

14. Importation of clothes

Clothing is among human beings' basic needs. This explains the ever-increasing demand for clothes in Nigeria and other countries across the globe. Today, there is still a market for clothes, especially trendy and inexpensive ones.

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You can import clothes from various countries, including China, India , France, Italy, the United Kingdom, the USA, etc.

15. Daycare centre

With the busy schedules synonymous with modern-day life, people need their children taken care of during the day. Many people are wary of house-helps knowing how they can sometimes mistreat children in the absence of their parents. The alternative is taking children to a daycare centre when they are away. You can start the business in a small, rented room or even in your guest room

16. Personal trainer/tutor

Are you skilled in a particular field and feel like you could help other people to develop their skills? Then the personal trainer business is a venture worth considering. For instance, millions of Nigerians undertake different academic tests and examinations every year and need someone to help them out with preparation.

Another example is the large number of people looking to learn how to use various computer programs. If you are proficient in the said programs, you can use this knowledge to start your course .

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17. Event planning

You may not appreciate how demanding event hosting is until you find yourself in a situation where you have to plan for a party. This explains why most people begin event hosting as a side hustle but end up doing it full time.

Numerous occasions require event planning . These include birthday parties, graduation parties, religious occasions, and even funerals, among many others.

18. Waste management

Waste management is another venture which can be quite profitable and has significant potential aligned with the modern-day pollution reduction agenda. The business's potential lies in the lack of awareness among Nigerians when it comes to proper waste disposal and management .

Several businesses can be started in this niche, with the top ones being waste disposal, waste recycling, organic fertilizer production, and junk hauling.

19. Food processing

The food processing industry in Nigeria is quite huge. You can choose to venture into numerous niches , including frozen food production, vegetable oil production, oil palm processing, yoghurt production, tomato puree production, garri processing, rice milling, and fruit juice production.

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20. Ridesharing

If you have a car and are looking for a profitable business in Nigeria, you should certainly consider ride sharing. Car owners can make extra cash and not affect their routines at all through innovative business ideas like ride-sharing . For example, you can advertise your car as a taxi and pick up passengers while running your errands. There are modern-day ride-sharing apps that can let you implement this idea quite easily.

21. Alternative power installation

Nigeria has been facing massive power supply issues owing to factors such as a rapidly growing population. With the world transitioning to more sustainable and environmentally friendly power sources, the Nigerian government has been creating incentives to encourage alternative power sources.

This has led to a growing demand for alternative power generators, including solar and wind energy. One can make money by importing, selling, and installing alternative power equipment.

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22. Photography and cinematography

Photography and cinematography are some of the most captivating business opportunities in Nigeria. These professions suit individuals who love documenting special moments. While there's stiff competition in the sector, specializing in a niche can win you many clients. For instance, you can choose to focus on pet photography and avoid crowded niches such as wedding photography.

23. Crop farming

The most important step for people considering crop farming is acquiring a good piece of fertile land. There are many potentially profitable cash crops which can be planted and nurtured for a steady flow of income. Some of the cash crops you could plant include kola nut, cocoa, oil palm, plantain, yam, cassava, orange, and many others.

24. Water bottling

The demand for bottled water continues to rise as major cities in Nigeria continue to grapple with the problems of clean water shortage. If you can bottle clean cooing water, then there are opportunities in numerous towns and cities across the country.

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25. Forex trading

Forex trading seems like the most recent frontier for making money online and is quite profitable. However, you will need to undergo training first through a coach or self-training to make it in forex trading . Once you learn the ins and outs, forex trading is arguably the top business to start with 10k.

Forex brokers not only train you but also give you access to forex markets through their accounts. This is an excellent place to make money, but you should also be aware of the risks that may include losing your investment due to seemingly small mistakes.

26. Dry cleaning

This is among the most interesting hot business ideas in Nigeria. With people becoming more and more focused on their jobs, the time to perform certain household chores such as laundry keeps diminishing. As a result, the dry-cleaning business has become quite profitable.

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27. Recharge card business

Recharge cards are highly sought-after products since they enable mobile phone users to call, text, and browse the internet. These cards are among the primary ways one can use to top up their device.

28. Interior designing

If you have a passion for interior design, you need not look for a typical nine-to-five job. The interior design market has something for you if you can prove your skills. Many developers may not have the time or expertise to decorate their properties, and this is where you come in. Offer to do the walls, furniture, floors, and numerous other interior design elements at a fee.

29. Affiliate marketing

This is ideal for someone looking for a super easy business to start in Nigeria. An affiliate marketer promotes products of other companies and earns commissions on their sales. One of the most popular affiliate platforms is Amazon's affiliate program. However, there are many others. Affiliate marketing is often combined with information distribution models such as blogging to create a seamless mix of content and promotion.

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30. Restaurant business

There are plenty of eateries, but this does not mean one cannot start their own restaurant in Nigeria today. These days, many people are too busy to cook at home, so they very often visit eateries. This especially applies to the students and workers, which is why setting up your restaurant near a school or busy workplace is a great idea.

This is one of the best business ventures for people with a passion for cooking and baking . At first, your business can start small, but it can expand once you have gained some traction and experience in the industry.

Be creative with the products you bake to distinguish yourself from your competitors.

32. Selling mobile phone accessories

Sales of mobile phone accessories is a very profitable business in Nigeria today. The number of mobile phone users in Nigeria is projected to grow significantly over the coming years. There are chances that the new mobile phone owners will need various accessories every now and then.

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33. Email marketing

This is one of the most effective ways to reach out to existing and potential customers in the digital sphere. Most people have an email address, and you can advertise products to them directly. With a good sales pitch, you can convert total strangers into customers for businesses and get paid in return.

This is arguably the best business to start with little money in Nigeria. The little capital outlay required for this venture makes it appealing to people with financial constraints.

34. freelance website design

Virtually all modern-day businesses and organizations now have an online presence for their business. Therefore, website design has become a great way to generate money. Business owners and organizations do not want to be left behind from the advantages related to having an online presence.

35. Start a YouTube Channel

Starting a YouTube channel is a great way to make money while sleeping. If you are a good content creator who can keep audiences engaged, you should definitely create a YouTube channel. You'd need to identify a niche to focus on and figure out what your target audience constantly searches for on YouTube.

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36. Lawn care

If you grew up in a home with a lawn, chances are your parents made you maintain it. How about turning the skills you learned into a business? Working outdoors with your hands to tame and beautify the natural landscape can be a rewarding experience and, in this case, a money-making one.

37. T-shirt printing

If you have an eye and mind for great designs, you can start a t-shirt printing business. Some of the most common methods include screen printing and heat pressing. You can set up your business online or even work with institutions.

38. Ice block production

Nigeria's hot tropical climate is the primary reason for the massive ice block demand. You can try this profitable venture with a significantly small capital outlay. All you need to get started is a good freezer, electricity, and water.

39. Plantain chips making

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In Nigeria, one can see plantain chips being sold on streets, in fancy stores and in slow-moving traffic. Plantain chips are easily some of the common snacks in the country. Most people like them because they serve as a delicious and affordable snack suitable for any time of the day.

As a business, plantain chips are easy to make and sell daily.

40. Car wash

The car wash business is profitable as there will always be an increase in the demand for a car wash . You might need some significant capital to get started. Ideally, you will need ample space, a stable water supply, and a washing machine.

You can go ahead and make your business more attractive and customer-friendly by providing a sitting space with a television set and snack bar.

41. Food cart

Meals to-go are perfect for people who struggle to find time to cook nutritious and healthy meals. This explains the increased demand for the meals-to-go business . You can capitalize on this trend by starting your own meals-to-go business in your neighbourhood, city, or state.

How to start boutique business in Nigeria?

42. Travel planning

While modern-day travel apps and websites have pretty much taken over most of the traditional travel planner's functions, a significant number of people still require these traditional services. If you are skilled and knowledgeable about Nigerian destinations, you can start a travel planning business.

43. Boutique

The fashion industry is among the most vibrant in Nigeria. Since the business is closely related to people's basic clothing needs, it is quite profitable. Additionally, the fashion industry is forever evolving, making this business a great idea .

44. Mobile phone repair

With significant training and little money, one can get a phone repair kit and start making good money repairing people's mobile phones. You will need to have excellent communication skills to help you earn and retain customers.

45. Cleaning services

These services target both small-scale and large-scale clients. The upside to this business is the sheer number of people who want a clean environment to live and work in. You can offer cleaning services for clothes, carpets, sofas, toilets, walls and many other things.

Most consumed goods in Nigeria

46. Car detailing

If you are a detail-oriented person and have a passion for cars, a car detailing business is certainly for you. It doesn't require much capital, and all you need is space and the necessary tools. If you set up a good company and impress clients, they will pay good money for your premium services.

Due to the low capital requirements, this is arguably the cheapest business to start in Nigeria.

47. Translation

The demand for multilingual people has recently increased. If you can speak two or more languages, you could consider starting a small business with which you can monetize those skills. You can start looking for clients on freelance websites such as Flexjobs and Upwork and then slowly build your portfolio.

48. Senior citizen assistance

Senior citizen assistance is one of the best business opportunities in Nigeria. There are several ways you can set up the business. For example, you can help the senior citizens run errands, take them to social functions, and even help them around the house.

What you need to start successful palm oil business

49. Virtual assistant

A virtual assistant is a self-employed person who provides administrative services to another individual or company from a remote location. If you are looking for an online job that lets you earn from your skills while giving you the freedom of working from home, then being a VA (Virtual Assistant) should be among your considerations.

50. Software development

These are interesting times for IT gurus as the demand for their services is at an all-time high. Software and app development is an amazing business opportunity. If you have the right skills, you can work to create apps and software for clients on different platforms, including Windows, Android, and iOS.

What businesses are in high demand in Nigeria?

Due to the country's growing population and modern-day technological advancements, the demand for products and services in the food, smartphone, and entertainment sectors is quite high. Some of the top businesses include smartphone repair, restaurant business, and affiliate marketing.

Do you want to become rich? Here are Top 20 business ideas for you

What are the most successful small businesses in Nigeria?

Some of the most successful small businesses in the country include the taxi business, cloth importation, and health and fitness training. Still, what counts as the best business in Nigeria for one person might not work for another due to factors such as returns, initial cost, and the experience required.

What business can I start with 500k in Nigeria in 2022?

This amount equates to about $1,206. With this amount, there are numerous business ventures you can get into. These include the carwash business, cloth importation, Ice block production, interior design, and blogging.

What business can I start with 50K in Lagos, Nigeria?

This is about $121. With this capital, you can start a low-cost business, particularly in the online sector. Some of the best options include affiliate marketing, blogging, freelance writing, and translation.

There are numerous business ideas in Nigeria today. With the country's growing population, technological developments, and ever-growing connectivity across countries, one can venture into a wide range of businesses and rake in profits. These ideas vary in terms of capital requirement, licenses and regulations, and potential returns.

Benefits of Aloe Vera on face overnight: a simple beauty secret

DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!

READ ALSO: What can you do with an adult education course if you study it?

Legit.ng recently explored the different paths one can pursue after getting an adult education certification. Adult education courses deal with the processes of adults engaging in systematic and continuous self-education to acquire new knowledge, skills, attitudes, or values. Typically, these methods vary significantly from conventional schooling.

Adult education is essentially any form of educational course completed by someone who has finished the continuous education cycle. It allows for enhanced personal development, goal achievement, and sociability.

16 cool business ideas for Nigerian ladies who want to make good money

Source: Legit.ng

100 Profitable Business Ideas to Start in Nigeria in 2024

• by Aham Onyemachi

Nigeria, a nation brimming with a population exceeding 200 million, presents a fertile ground for entrepreneurs seeking lucrative business ventures. However, pinpointing the ideal business to launch can be a daunting task, especially when profitability is paramount.

This comprehensive resource empowers you with 100 promising business ideas that can be materialized in Nigeria without delay. The opportunities highlighted cut across diverse sectors, catering to the dynamic needs of the Nigerian market. These sectors include agriculture, food processing, retail, e-commerce, manufacturing, education, healthcare, technology, environmental management, and various service industries.

Notably, many of these business ideas require moderate startup capital, making them attainable for aspiring entrepreneurs.

Agriculture and Food Business Ideas

Retail and E-Commerce Business Ideas

Manufacturing Business Ideas

Education Business Ideas

Healthcare Business Ideas

Technology Business Ideas

Environmental Business Ideas

Service Business Ideas

Agribusiness Ideas

Construction Business Ideas

Import Export Business Ideas

Professional Service Ideas

Conclusion 

The 100 business ideas highlighted cover profitable opportunities budding Nigerian entrepreneurs can successfully begin. Conduct in-depth feasibility analysis, make solid business plans, develop differential advantage, market aggressively, adapt as you grow, and success will follow. With patience and consistent effort, these businesses can provide the launchpad for creating significant wealth and employment.

Related posts:

• The simple business plan format for your start up
• How to start events planning business that will succeed in Nigeria
• Emerging Trends: Lucrative E-Commerce Business Ideas in Nigeria
• 10 Affordable Business Ideas to Kickstart Your Entrepreneurial Journey in Nigeria

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InvestSmall

Top 10 Profitable Business Ideas in Nigeria (2024)

February 13, 2024 by Akeem

With the current state of Nigeria’s economy, owning a business has become a necessity. But the issue is not just to own a business. Your business idea needs to be profitable and easy to start.

I’ve reviewed business ideas in Nigeria that can be done on small, medium, and large scales. By the time you finish this list, you’ll be able to decide which business to invest in.

In this blog post, I’ll explore the top 10 business ideas in Nigeria:

List of Best Businesses to Start in Nigeria

• POS Agency Business
• Cleaning Business
• Laundry Business
• Market Runs
• Event Planning and Management
• Blog Business
• Real Estate Agency Business
• Agriculture and Agribusiness
• Tech Startups
• Education and Training Services

1. POS Agency Business

The POS (Point of Sale) agency business has grown in Nigeria over the last few years. This results from the growing demand for agency banking by Fintech companies.

As a POS Agent, you can make between 10,000 Naira to 30,000 Naira in commissions daily depending on your location. The busier your location, the more money you’ll make.

Starting a POS agency business requires very little to no capital. Just reach out to a sales agent from a Fintech company such as Moniepoint , Opay, Palmpay, and so on to get set up.

Recommended – How To Start POS Business Successfully in Nigeria

2. Cleaning Business

Many people who work in cities like Lagos or Abuja don’t have much time to clean their homes. This is an awesome business opportunity. You can clean different homes weekly and make a steady income.

A challenge with this business idea is that many people don’t like having strangers in their homes. So you could start by marketing your cleaning business to people you’re familiar with.

As you offer them top-notch services, you can ask them to refer you to anyone they know who needs your services.

You can charge between 5,000 Naira to N50,000 per home weekly depending on the level of cleaning required.

The scale of this business can easily grow from small to large as you get more clients.

Helpful Tip : Use your own cleaning supplies to show clients you’re a pro .

Learn More – Steps on How to Start a Small-Scale Business in Nigeria

3. Laundry Business

Starting a laundry business does not need much investment . Some people can’t do their laundry themselves and are willing to pay someone to do it for them.

Just like the house cleaning business, market to people you know and seek referrals

You can make between N5,000 and above on profit weekly if you put in some serious effort into the business.

Helpful Tip: Provide free laundry pick-up and delivery to attract more customers.

4. Market Runs

There are popular markets where items can be bought at wholesale prices. Some of them include Oyingbo and Balogun Markets in Lagos.

Due to the distance, some people prefer to have someone do their market runs for them. This is where this business idea comes in.

You can help people go to the market and buy food and household items and get paid for it.

If you enjoy going to the market and sourcing things at cheaper prices, this business would suit you. You can make up to N5,000 in income from each market run.

Helpful Tip: You’ll get more clients if you’re honest .

5. Event Planning and Management

Event Planning and management will always be in high demand in Nigeria. Top event planners in cities like Lagos, Abuja, and Port Harcourt make up to 1 Million Naira per event.

To start this business, you’ll need to build a portfolio you can use in marketing your services. You can build a portfolio by offering free planning and managing events for friends and family.

As you practice with these free events, you can also take free or paid courses to improve your skills.

Related Article – Top 20 Business Ideas For Students

6. Blog Business

Blogging is a good way to generate continuous passive income. It is also a good way to make money in US Dollars which is a stronger currency than the Naira.

As a blogger, you can make up to $100 per day if your website has a large amount of traffic.

Pick a niche, write on topics you know, optimize for visibility on search engines, and monetize it. You can monetize your blog using platforms like Google Adsense, Ezoic, Mediavine, and so on.

A challenge for this business could be getting more readers from search engines. You’ll need to understand how SEO works or engage the services of an SEO expert to help you do this.

Helpful Tip: Target readers from tier 1 countries like the United States to make more money from blogging.

7. Real Estate Agency Business

You can start a real estate business even while still engaged in your 9-5. Identify real estate developers and agree on how much commission you’ll get when you sell a piece of land or a building.

Commissions can be between 2% – and 10% depending on the cost of the property.

Learn More – Real Estate Investment Opportunities in Nigeria

8. Agriculture and Agribusiness

Agriculture remains a cornerstone of the Nigerian economy. It offers vast opportunities, from crop farming to livestock breeding and agro-processing.

Nigeria’s fertile land and diverse climate make it ideal for producing a wide range of products. These include rice, maize, cassava, poultry, and dairy.

Entrepreneurs can tap into the value chain by engaging in farming and processing agricultural products. They can do this for local consumption or export. They can also provide agricultural services, such as equipment leasing and consultancy.

9. Tech Startups

The tech industry in Nigeria is booming. Opportunities exist in software development, mobile app development, fintech, edutech, and health tech.

Innovative solutions can address local challenges or offer services such as online payments, educational platforms, or health information systems. They can gain significant traction.

10. Education and Training Services

You can start educational services like private schools, tutoring services, vocational training centers, and online education platforms.

With a large youth population and a focus on improving education. There is a demand for quality education. There is also a demand for skills acquisition programs that prepare students for the workforce.

What is the most profitable business in Nigeria?

The most profitable business can vary. Sectors like agriculture, real estate, and technology tend to offer high returns in Nigeria. This is because of their demand and scalability.

How do I start a business with no money?

Starting a business with no money requires leveraging skills and networks to offer services or digital products. It also involves finding a co-founder or seeking out incubator programs that provide seed funding and mentorship.

Check out our article on the cheapest businesses to start in Nigeria .

How to start a business in Nigeria?

To start a business in Nigeria, you need to identify a viable business idea. Conduct market research. Register your business with the Corporate Affairs Commission (CAC). Comply with any relevant industry regulations.

<<Recommended – Steps on How To Start a Small-Scale Business in Nigeria

What business can I do with 200,000 naira in Nigeria?

With 200,000 naira, you can start small-scale businesses. For example, you can start a mini importation business, food vending, small retail, or online business focusing on niche markets.

Which business is best for daily income?

Businesses that provide daily essentials or services, such as food vending, mobile retail, recharge card sales, or small-scale agriculture, are best for generating daily income.

<<Recommended – Top 7 Daily Income Business in Nigeria

The best business ideas in Nigeria right now are those that require minimal capital and effort to start. This is why I kept this list short. You can start any of the businesses listed here and start making money almost immediately.

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40 Best Business Ideas In Nigeria For 2022

The best business ideas in Nigeria for 2022 are not out in the distance.  They are closer than you think. In fact, chances are that if you’ve been thinking of starting a business this year, then you might have considered at least one of them.

That’s why we compiled this list of 40 business ideas so that you can go from thinking of a business idea to taking the right action in getting started.

After all, we are already in 2022 – the year you promised yourself you will start your business, right?

So, whether you’re looking to start a part-time side hustle or full-time business, this guide is for you.

With that said, let’s get started.

Recommended: Get the all-in-one help for planning your business.

1. Starting a Gym/Fitness Center

People are always concerned with how they look, their body size, and fitness in general.  People pay to get themselves in the best shape that they want and to stay fit. 

The Nigerian fitness industry is one that hold great promises, especially in many middle class and upper middle class communities due to lifestyle trends and health issues.

That is why you should consider a gym business. If you are passionate about people’s health and their fitness, then a gym-related business is good for you.

2. Start an Online Blog

Blogging is one of the ways whereby you can earn online. You can start blogging if you have the ability to write or willing to acquire the skill of writing.

You don’t need to have much money to be a blogger. The necessary things needed are a good internet connection, a laptop, research skills.

Time is also an important factor when considering blogging. In fact, time is perhaps the greatest investment when you become a blogger.

One thing you should also learn if you want to be a blogger is search engine optimization (SEO) . This is to help people find your blog when they search on search engines like Goggle.

SEO is important for a blogger because you will not always want to promote your blog manually. You can also decide to hire an SEO expert to help you out.

You can start your blog for free on WordPress or Wix. You can also have your blog hosted on a personal server if you have money. You have to post good content on your blog, drive traffic to your blog, monetize your blog.

You can monetize your blog by displaying advert, Google Adsense, affiliate marketing, you can even sell e-products like e-books, etc.

3. Start your cosmetic brand

The cosmetics business is one of the profitable businesses that you can venture into. You know why? People pay attention to their look.

People want to look good. If you are an enthusiast of beauty, then the cosmetics business is what you should consider.

If you want to be at the top in this business,  you have to have good research skills. This is important because you cannot afford to be outdated.

You need to add to your knowledge about cosmetics so that you will be relevant In the business.

4. Start a mini importation business

A lot of things have changed since the inception of the internet. The way people trade and involve in commercial activities has taken a new look.

People now buy and sell by ordering things online through e-commerce websites like Alibaba, global sources, and so on. You can start with as low as a hundred thousand Naira if not even less.

All you need to do is to know what people need, search for these products on various e-commerce websites, ask a procurement agent to help you buy the products. The procurement agent will get the product across to you which you will sell and make your cool cash.

You can import various products which include perfume, clothes, kitchen utensils and lots more. People who are into this mini Importation still make profits even when the value of Naira falls.

5. Start a food business

The basic needs of man are food, clothing, and shelter. That is why you should consider a food business.

Every man eats, no matter what condition they are and that is why the food business is profitable in Nigeria. In fact, food is one of the fast-selling products in Nigeria.

You can only be successful in the food business when you differentiate yourself from others. This can be done when you choose special types of food, a niche, and a targeted market. Note that everyone cannot be your customer, so know your people.

Look into strategic places that you will get a higher profit. For instance, you can sell food to people working in big companies and organisations like banks, breweries, oil and gas companies, and many more.

You can even build a relationship with the management of the companies and seek their permission to bring food into the organizations at a specific time. You can also ask people to order some special food which will be delivered to their doorsteps.

6. Create a digital product

Digital products have helped many create business empires. This is an internet-based business that you can do if you have knowledge of what others don’t. 

You can make cool cash and even build a thriving brand by packaging what you know and selling it online. This information may be packaged in form of audio, video, e-book, or a course.

You don’t necessarily have to create the digital product by yourself. For example, if you want to write and sell an e-book, you may hire a creative writer who will creatively help you turn your knowledge into money.

7. Start your cake brand

Cake as we all know is used to spice up events ranging from birthdays to weddings to anniversaries to graduation and other exciting events.

That is what makes the baking of cake a profitable one. Cake varies in sizes and types and fits for a wide range of occasions as mentioned earlier. You can start your cak8. e business on a low budget.

In fact, you can start it in your kitchen. With the right marketing skill in place, you get customers who are interested in cakes, get them to send you a sample of what they want, and get it done for them.

Make sure that your cakes are yummy and tantalizing as this will help you retain old customers and even earn you referrals. Ensure that you post every of your work on various social media platforms to attract new customers.

Don’t just bake those cakes for fun or lunch on a Saturday afternoon, make money from it.

8. Sell mobile phone accessories

Mobile phone is one of the most bought products in Nigeria. This is why the sake of mobile phone accessories is another way to earn. You can decide to rent a shop for your business if the money is available.

You can also make it a mobile business by carrying your goods to specific places that you think they are needed or where they are demanded.

You can start the selling of batteries, earpieces, memory cards, screen guards, and other mobile phone accessories with as low as 50,000 naira.

A partnership with companies like Samsung online store will be helpful for you to get your products easily. You can as well decide to import these mobile phone accessories.

9. Sell second-hand clothing (“Okrika” bale) Business

You will hardly see an average Nigerian in a boutique to buy clothing.

You know why?

They believe that these clothes are expensive so they go for an alternative which is Okrika. Okrika business is profitable and sells fast in Nigeria because of the poor economic situation.

You can actually start your Okrika business anywhere in Nigeria.  However, a sub-urban region and a rural area is a good location for the Okrika business.

You can buy bales of Okrika at places like Aba, Onitsha, Lagos, Kano. The capital for Okrika varies depending on the individual but you can start with as low as 100,000 naira.

10. Start a consulting agency

 Knowledge, they say is power. Being knowledgeable and passionate about specific aspects of life can fetch you more money than you can ever imagine. You can start your consulting business, grow the business and employ other consultants over time

11. Resell used clothing online

Selling online is another lucrative business you can venture into especially if you are passionate about clothing and other fashion items.

It takes a lot of time and dedication. However, it is a good idea you can start as a side hustle and later turn it into a full-time business.

Online clothing store websites are of great advantages of selling your unwanted clothing.

12. Become an online tutor

Due to the pandemic, students have been on lockdown. Online teaching has been a lucrative business as students now learn from home and this is a great opportunity for anyone knowledgeable about a particular subject. You can teach the course regardless of your location.

13. Offer online bookkeeping services

Book-keeping business is another lucrative business you can start with little or no money. Research shows that the accounting, tax preparation, bookkeeping, and payroll services industry is one of the top 15 most profitable small business industries. The bookkeeping business also has a greater benefit because of its high margin of profitability.

14. Become a make-up artist

Make-up service is another lucrative business. You can start by working on yourself, then to close friends, then to clients who will pay you for your service. You can also take advantage of online platforms like YouTube and make numerous people know about you and what you do.

Overall, the amount of profit you can make depends on the total number of customers you have and the exact services they request.

15. Website Design and Maintenance

Having an online presence for one’s business is now the new normal since the COVID-19 outbreak.

Virtually all thriving businesses and organizations now have an online presence for their business. This has helped them to remain on their feet during the lockdown and afterward.

This is why website design is a new way to generate money. Business owners and organizations don’t want to be left behind from the goodies that are in having an online presence, that is why the demand for a website designer is one the high. 

Once you have learnt basic design tools and can build an attractive and functional website, then be ready to smile to your bank.

16. Mobile App developer

Technology is evolving and if you are an expert in technology, you can start a business in app development.

Many people prefer to use mobile applications than using the website via chrome or other browsers because the mobile app is said to be more User-friendly.

If you are techy, this might be for you. With your smartphones and computers, you can access the business.

17. Car Wash

The car wash business is profitable as there will always be an increase in the demand for a car wash.

The reverse can only be the case if people stop using vehicles and that is why you should look into a car wash business.  Anyone can do this business regardless of age.

You might need a little more capital to start up your business as you will need a space, a stable source of water supply, and a washing machine.

You can make your business more attractive and customer-friendly by providing a sitting space with a television set where your customers can relax while you wash their cars.

You can also make additional money if you include the sale of things like drinks, snacks, etc. in the relaxation area.

18. Equipment Rental Services

There are a lot of things that people need that they don’t have. This may be because of the amount to purchase it or they won’t need it every time. That is why you should consider a rental service.

People rent a range of things which includes chairs, canopies, kitchen utensils, a ladder, and so on. Decide which of the item you want to rent out and kick start your business.

Once you have been known for renting out these items in your environment, the demand may later be too much for you to meet. Therefore, as the business keeps thriving, make sure you buy more of these items and other items that people will like to rent.

This business requires more capital to start. If you have money and you don’t know which business to venture into, then this might be for you.

19. Ice Block production

Ice block production is a small yet profitable business in Nigeria. Nigeria is a country that has intense sunlight and heat hence, the need for cold drinks is on the rise.

Unfortunately, Nigeria is having a poor power supply which makes it difficult for people to get access to cold water and drinks in their homes. That is why the Ice block business is lucrative in Nigeria.  Your targeted market are homes, shops, and bars that are in need of cold drinks.

Fortunately, you don’t need a huge amount of money to start your ice block business. You can start with a little amount of money. The major things you need are a deep freezer and a generator that can power it. You can purchase an ice block-making machine when the business starts to boom.

20. Affiliate Marketing

Affiliate marketing is another profitable business in Nigeria. You can start with little or no capital. All you have to do is to connect a buyer to the seller or help someone to sell something then you are paid a commission for every product you sell or was sold through you.

Affiliate marketing can be done either offline or online. You don’t have to take any risk as the risk will be taken by the seller. All you do is link up or sell products and then get your money. We have various affiliate marketing websites and programs that have helped many to become a millionaire. You can also sell physical products or digital products as an affiliate marketer.

You can register to any affiliate program online and use your affiliate link to advertise and then drive sales to the company.

21.  Content Development / Ghost Writing

Looking for a business you can start with little or no capital? Then you should consider content development or ghostwrite. If you can creatively compellingly use words, then you can start making money from writing as a freelancer. You can do this on a full-time or as a side hustle. This is a good way for students to earn also.

Organizations and companies pay a huge amount to anyone who can help develop good content either for advertisements, blogs, or websites. Some organizations will even add to your pay if you help them edit as well.

There are various platforms online like Fiverr that you can register as a freelance writer and you start to earn big.

22.  Driving for Uber

A lot of people have as much as 2 million naira and they don’t know what to do with it. If you are in that category, then consider Uber. People drive with Uber for various reasons. Some want their freedom, they can drive to wherever they like and whenever it pleases them, they determine the number of hours they spend at work. Averagely, Uber driver earns up to 120,000 naira per week. Presently, driving an Uber is one of the profitable businesses in Lagos and some other parts of Nigeria. You may choose to make it a full-time job or a part-time job; either during my weekends or after closing the day’s job.

23. Creche Business

Mothers have to continue to earn a living after childbirth. That is one good reason why having a creche is a way to make money. The creche has always been a live saver for mothers as it helps them go on with their normal daily activities seamlessly. If you love being around children,  this is a business you should consider.

It is important to register your creche with appropriate authorities to avoid getting into trouble.

24. Laundry Business

This is another profitable business you can do in Nigeria. Many people have made their money and a lot are still making their money in this business. You can also join the league of people that have made lots of money in the dry cleaning business. A lot of people get busy with their work and they seldomly have time to do home chores like washing clothes and others. Some may even wash and find it stressful to iron. Some people want a professional touch on their clothes and they know that only a dry cleaner can do that.

The major things you need are a washing machine (you can even wash manually as a starter), pressing iron, ironing table, and detergent.

25. Social Media Marketing

This is another selling skill in Nigeria. Many organizations and businesses know that they have to market their businesses online but they don’t know how to go about it. They know that social media will increase their reach to their audience and also help them to generate more sales which will lead to profits.

Maximize this opportunity that social media has provided and learn how to use Facebook, LinkedIn, Twitter, Instagram, and other social media platforms to generate sales. Offer this skill as a digital marketing agency in nigeria to people either individually or corporately and start to make money for yourself.

26. Transcription service

This business is good for you if you can ear well and you can type fast. Transcription service permits you to work remotely and the schedule is flexible.  You can choose to work full-time or part-time. You decide the number of jobs you want to accept based on your schedule.

The advantage of accepting few jobs makes transcription easy for you as a starter. The good thing is, it requires little capital. The major things you need are a computer, a good internet connection, and suitable software.

It is necessary to become a professional transcriptionist if you want an increase in business prospects and you want to charge more for the service you render.

27. Cleaning service

You can turn your ability or interest in cleaning into money. You can render cleaning service when you have few members of staff, cleaning items, and transportation. You can render service to household, commercial properties, or apartment complexes. You don’t require much skill before you can venture into a cleaning service. The major skills you need are planning, commitment to work, and proper marketing that will attract the right customers. You can distinguish your cleaning service from others by adding other options like floor waxing or fumigation at an extra charge.

28. Real estate agent

Not many people find it easy to get an apartment and other landed properties, and that is why a real estate agent is needed. Your job as a real estate agent is to help people find their desired house at a price they have budgeted for. You might need to get a certificate to be a professional real estate agent. Aside, the certificate, there are skills you should not lack which include negotiating, closing a deal, etc. You must also know how to relate well with people if you want to consider this a profitable business.

29. Graphic Design

Companies, organizations, and business owners need to promote their business using attractive material that speaks to the eyes of their prospects and customers. If you love art, designs, colors, then consider graphic design as a business. You must be able to arrange content/copy in a visually attractive format which can be used as posters, digital ads, flyers, and graphical materials. The major things you need are a laptop and a working space. The good thing about this is that you can work in the corner of your room. 

30. T-shirt printing business

A T-shirt printing business is what you should consider if you have a good artistic sense or you appreciate and love good visuals on T-shirt. Most people prefer to wear a customized T-shirt with good graphics or quote on it. That is why T-shirt printing is profitable in Nigeria.  Once you have a workspace and the important tools needed, you are good to start your business. You can start small and then buy sophisticated equipment as the business begins to thrive.

31. Delivery service

Looking for a profitable business with an easy start-up? Then you should consider the delivery business. All you need is a vehicle (or bike) and the ability to drive or ride. Don’t be discouraged by the big delivery companies, there are still rooms for starters.

It is important to have a good driving record which will make people trust you with their goods. You must also be able to deliver goods in good time and have great organizational skills to stand out in this business.

32. Event planning:

Event planning is a business you should look into if you are a very organized person and can meet deadlines. You have to be able to handle situations well, relate well with people, pay attention to details, and have great communication skills to be successful as an event planner.

Event planning is a profitable job that requires mainly your skill. You do not need start-up capital as such. Event planning is lucrative because of the wide range of customers that comes from it. Event planning is not limited to weddings, burials and naming ceremonies like most people have thought. Government organizations, hotels, corporations also need the services of an event planner to set things up for their conferences and even meetings.

33. Painting

Painting is another profitable business because many people don’t know how to paint and even if they do, many don’t have the time to paint. Painting business does not require more start-up capital. Also, painting is not a seasonal job, i.e, people paint at any period of the year. You can also employ painters when the demand for your service is getting high. Your physical ability, top-notch painting skill, and equipment like buckets, brushes, etc. are the basic things needed to kick start your painting business.

34. Photography

If you own a camera and can handle it well then photography is the business you should look into. The service of a photographer is needed at various occasions ranging from weddings,  burials, naming ceremonies, and all that. People want to keep the memory of events and happenings, that is why photography will ever give you cool cash. Don’t be discouraged by the latest technology revolution of phone cameras and all that, a professional photographer will always be needed to get a professional result. Pictures are also taken at official events such as conferences, swearing-in, convocation and, so on.

You can start by snapping some people for free who will later be customers and may refer people to patronize you. The major things you need are the ability to take shots creatively, a good camera, and a few editing software.

Once you are known for taking good shots,  the demand for your service will increase.

35. Freelance Proofreading and Editing

People will always need an editor as long as people keep writing. You have the opportunity to read about new things even as you make your money as an editor. Just like the other freelance jobs we have, you can determine when and how much work you do. You must have the ability to pay attention to details and meet up deadlines to thrive as a freelance proofreader and editor.

36. Start a YouTube Channel

YouTube is a great platform to earn in dollars. YouTube is a lucrative and legitimate business if you are intentional about it. You can earn a lot of money when you make educative, entertaining, or inspiring videos that keep people coming to your channel. You can join the millions of people who make money from all the ads that are displayed on their videos. Having good content, communication skills, relationship, audience, and timing will help you make your millions in a short while. Having a good camera and audio quality also have an effect on your views.

37. Cloth design and tailoring

Tailoring is very lucrative but first, you have to acquire the skill. Learn how to design and tailor both English and native wear. Once you are skillful, boom! You start counting your cool cash.

You can start this business with a small capital and then buy the sophisticated instruments as the business starts to boom.

38. Public Speaking

Inspiring people is a gift that can be converted to wealth. Public speaking is a lucrative business idea to pursue if you have the gift. A lot of politicians, writers, scientists, and other experts have used public speaking to earn extra money. They do this by delivering seminars, presentations, and speeches. Public speaking does not have to take away all your time. You can make it a side business that will earn you money.

39. Career Coach

Many people want to become better in what they do and they need a coach. That is why you should consider being a coach if you are an expert in your career. You can make money by helping people to get to the top of their careers.  You can also guild people in scaling through an interview, negotiating an increase in salary, and helping them succeed in the career they have chosen. You can start by sharing your ideas on blogs and platforms like Coach Me where we have a lot of people who are looking for help to boost their careers. Pay attention to making sure that people get results from the ideas or pieces of advice that you have shared and in no time you charge people for the results that your clients are getting.

40. Car rental business

Cars to some people are luxury but to most people, it is a necessity. Some people at some point will need a car they could hire  You can rent your car as a source of income. Instead of your car sitting in your garage almost all the time, why not rent it out? You may charge per hour or per day depending on what you choose. Be sure you learn from an expert who will put you through the business.

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Different Business Ideas in Nigeria: Unleash Endless Opportunities

Dreaming of starting your own business in Nigeria? You’re in luck because the landscape is brimming with opportunities waiting for the right entrepreneur to come along. From bustling city markets to the digital frontier, Nigeria’s diverse economy offers a playground for various innovative business ideas.

Whether you’re leaning towards agriculture, tech, or services, understanding the local market’s needs is key. Imagine tapping into Nigeria’s rich cultural heritage or its growing tech-savvy population. The possibilities are endless, and the time to start is now. Let’s dive into some of the most promising business ideas that could turn your entrepreneurial dreams into reality.

Key Takeaways

• Agriculture in Nigeria offers diverse opportunities, including crop farming, livestock farming, aquaculture, and agro-processing, with a growing trend towards technology integration for enhanced productivity and efficiency.
• The Nigerian tech sector presents lucrative business ideas, particularly in e-commerce, fintech, EdTech, and HealthTech, focusing on solving real-world problems and catering to the country’s growing tech-savvy population.
• Service-based business ideas like digital marketing services, education and training services, health and wellness services, and consultancy services have the potential for low initial costs, scalability, and leverage of technology to meet consumer needs effectively.
• Leveraging Nigeria’s rich cultural heritage in business ventures, such as promoting Nigerian artwork, fashion, and cuisine on global platforms, can provide unique value propositions and contribute to preserving Nigeria’s traditions and history.
• Tapping into Nigeria’s expanding tech-savvy population by offering digital services optimized for mobile use, embracing local languages, and providing culturally relevant content can address a significant market demand and drive innovation.
• Understanding local market needs, integrating technology into traditional sectors, and prioritizing user experience are critical for entrepreneurial success in Nigeria’s diverse and growing economy.

Agriculture-based Business Ideas in Nigeria

As an entrepreneur with a keen eye for online business and startups, you already know the importance of diversification . Agriculture in Nigeria offers a wide range of opportunities that align perfectly with your adventurous business spirit. Here, you’ll find some of the most promising agriculture-based business ideas that could be your next big venture.

First off, think about Crop Farming . Nigeria’s fertile lands make it ideal for growing a variety of crops including rice, maize, and cassava. What’s exciting is the potential for integrating technology with traditional farming methods. Imagine using drones for crop monitoring or app-based platforms for managing supply chains.

Livestock Farming is another avenue worth exploring. From poultry farming to cattle rearing, this sector has consistently shown potential for high returns. The demand for meat and dairy products is ever-growing, opening up numerous possibilities for innovation in the supply chain and product delivery.

Then there’s Aquaculture . With Nigeria’s extensive water resources, fish farming has become an increasingly popular enterprise. It’s a sector ripe for technological innovation, offering ample space for developing sustainable and eco-friendly farming practices.

Consider also Agro-processing . This is where agriculture meets industry. Processing raw agricultural products into finished goods such as canned foods, juices, and other consumer products not only adds value but also extends market reach. The exciting part? There’s a growing trend towards organic and health-focused products, tapping into a more conscious consumer base.

Here are a few key statistics to ponder:

With your knack for studying success and constantly engaging in side hustles, diving into these sectors could be your next success story. Remember, in today’s digital age, integrating tech with traditional farming practices not only sets you apart but also significantly boosts efficiency and productivity.

Tech-based Business Ideas in Nigeria

Venturing into the tech world in Nigeria opens up a wealth of opportunities for aspiring entrepreneurs like you. The digital landscape is fertile ground for innovative business ideas that can solve real-world problems while tapping into a growing market. Let’s dive into some of the most promising tech-based business ventures that could be your next big thing.

E-commerce platforms have revolutionized the way Nigerians shop. With more consumers turning to online stores for convenience and variety, launching an e-commerce website that offers unique products or caters to a specific niche can set you apart. Whether it’s fashion, electronics, or homemade goods, there’s a market waiting for your idea.

Fintech solutions are dramatically reshaping Nigeria’s financial sector. As an entrepreneur, developing apps or platforms that offer payment processing, online banking services, or personal finance management can fill significant gaps in the market. Not to forget, the demand for financial technology that serves the unbanked and underbanked populations is massive and continues to grow.

Another area ripe for disruption is EdTech . With the push towards digital learning, creating educational platforms that provide online courses, tutoring services, or resources for both students and teachers can make a substantial impact. Your platform can bridge the gap in the education system, offering accessible learning opportunities to anyone with internet access.

Lastly, the health sector can greatly benefit from HealthTech initiatives . Developing apps or websites that offer telemedicine services, health information, or appointment booking with healthcare providers can improve the accessibility and efficiency of health services in Nigeria.

Each of these business ideas leverages technology to either improve existing services or introduce new solutions to the market. As you consider diving into the tech-based business arena, remember, success lies in identifying a need, understanding your audience, and delivering a product or service that not only meets but exceeds expectations.

Service-based Business Ideas in Nigeria

In your entrepreneurial journey, diving into the service sector in Nigeria could be a game-changer. Given your passion for online business and startups, there’s a wealth of opportunities waiting for you. Service-based businesses can often start with lower initial costs and scale quickly, especially if they leverage technology effectively.

First on your list should be exploring Digital Marketing Services . With the digital landscape in Nigeria booming, companies are on the lookout for experts who can boost their online presence. If you’ve got a knack for SEO, social media marketing, or content creation, this might be right up your alley. It’s a great side-hustle that can grow into a full-blown agency.

Next, consider Education and Training Services . Given your interest in success and studying it, creating an online platform for professional development courses could fill a significant gap. EdTech is ripe for innovation, and offering courses that cater to improving business skills, technology, or even personal development can meet a growing demand.

Health and Wellness Services also present a unique opportunity. With an increasing awareness of health and wellness, starting a business that offers virtual fitness classes, nutrition advice, or even mental health support can have a significant impact. Leveraging apps and online platforms to connect with your clients can make your services accessible to many.

Lastly, don’t overlook the potential in Consultancy Services . Whether it’s in finance, management, or operations, your expertise and experience can help other businesses thrive. This is especially true if you specialize in a niche area. Consultancy services allow for flexibility and can be a lucrative way to share your knowledge and skills.

In each of these service-based business ideas, remember the importance of understanding your audience and delivering value that exceeds their expectations. As you’ve successfully launched your own online business, applying those learnings here can only set you up for greater success.

Leveraging Nigeria’s Rich Cultural Heritage for Business

Nigeria’s vibrant culture, marked by its diverse languages, traditions, and art forms, isn’t just a treasure trove of history—it’s a gold mine for innovative business ideas. As an entrepreneur, tapping into this rich cultural heritage can set your venture apart in the global market. You already know the importance of unique value propositions in business; Nigeria’s cultural heritage is yours for the taking.

Imagine launching a business that brings Nigerian artwork to homes worldwide. With technologies like e-commerce, you can easily connect local artists with international buyers. This not only puts Nigerian culture on the global map but also supports local talent. Think Art Galleries Online , where each piece tells a story, capturing the essence of Nigerian traditions.

Another avenue is fashion. Nigeria’s traditional attire, known for its vibrant colors and intricate designs, has always caught the eye of the fashion world. By modernizing these designs while retaining their traditional essence, you create a niche in the fashion industry. Fusion Fashion Lines could be your next big hit, blending modern with traditional, appealing to both local and international markets.

Don’t overlook the food industry. Nigerian cuisine, with its rich flavors, offers an untapped market opportunity. Starting a business that packages and sells authentic Nigerian spices and recipes internationally could be your ticket. Global Taste Buds could be a brand that introduces the world to the flavors of Nigeria, from the comfort of their kitchens.

Remember, leveraging Nigeria’s cultural heritage isn’t just about making profits. It’s about globalizing and preserving Nigeria’s rich traditions and history. With your entrepreneurial spirit and passion for innovation, you’re not just starting a business; you’re bridging cultures.

Tapping into Nigeria’s Growing Tech-savvy Population

Nigeria’s booming population isn’t just growing in numbers but also in tech-savviness. For you as an entrepreneur with a keen interest in online businesses, startups, and the digital world, this presents a goldmine of opportunities. The rapid expansion in internet usage and mobile connectivity in Nigeria has set the stage for digital businesses to thrive.

Starting a tech business or pivoting your current venture to cater to this tech-savvy population isn’t just a smart move; it’s practically essential in today’s digital age. Think about services that leverage the internet, like e-commerce platforms that connect Nigerian artisans with global consumers, or innovative apps that solve everyday problems unique to Nigerians.

Here are a few sectors ripe for tapping into:

• E-Commerce: With more Nigerians comfortable shopping online, e-commerce platforms can see significant growth. Whether it’s fashion, electronics, or home goods, there’s a market waiting.
• EdTech: Education technology startups that offer online learning, tutoring, and skill acquisition can cater to Nigeria’s thirst for knowledge and self-improvement.
• Fintech: Financial technology is booming globally, and Nigeria is no exception. From digital payments to mobile banking, there’s a demand for innovative financial solutions.
• HealthTech: Address health care accessibility with telemedicine services, online consultations, and health information platforms tailored for the Nigerian market.

Remember, while chasing these opportunities, it’s crucial to prioritize user experience and accessibility. Many Nigerians access the internet through mobile devices, so your digital services need to be optimized for smartphones and tablets. Embrace local languages and culturally relevant content to connect more deeply with your audience.

By focusing on these areas, you’re not just starting a business; you’re serving a community eager for digital solutions. Your passion for online ventures and your entrepreneurial spirit can make a tangible difference, contributing to the tech revolution sweeping across Nigeria.

Diving into Nigeria’s vibrant business landscape offers a world of opportunity. Whether you’re passionate about preserving Nigeria’s heritage through cultural enterprises or you’re keen to tap into the tech revolution, there’s a niche for you. Embrace the chance to make an impact, not just by launching a business but by contributing to Nigeria’s growing digital ecosystem. Remember, success lies in understanding your audience and delivering solutions that resonate with their needs and aspirations. So go ahead, take that leap and be part of Nigeria’s exciting entrepreneurial journey.

Frequently Asked Questions

What are some service-based business ideas that entrepreneurs can explore in nigeria.

Service-based business ideas in Nigeria include digital marketing services, education and training services, health and wellness services, consultancy services, and businesses promoting Nigerian artwork, fashion, and cuisine. These ideas leverage Nigeria’s rich cultural heritage and growing tech-savviness.

How can entrepreneurs in Nigeria leverage technology in their businesses?

Entrepreneurs can leverage technology by optimizing services for mobile devices, utilizing digital marketing strategies, and offering online platforms for education, health, and commerce. Embracing tech advancements enhances user experience and accessibility, crucial for business growth.

What opportunities does Nigeria’s tech-savvy population present for entrepreneurs?

Nigeria’s tech-savvy population presents opportunities for tech businesses such as e-commerce platforms, edtech startups, fintech solutions, and healthtech services. Catering to this demographic can drive tech revolution in Nigeria with businesses that prioritize user experience and utilize culturally relevant content.

Why is it important for businesses in Nigeria to focus on local languages and culturally relevant content?

Focusing on local languages and culturally relevant content is vital for engaging Nigeria’s diverse population. It enhances user experience, promotes inclusivity, and ensures businesses effectively communicate and connect with their target audience, contributing to business success and community development.

How can entrepreneurs contribute to the tech revolution in Nigeria?

Entrepreneurs can contribute to the tech revolution in Nigeria by starting businesses that embrace digital transformation, cater to the tech-savvy population, prioritize accessibility, and incorporate local cultural elements. Engaging in these practices helps to drive innovation and economic growth in Nigeria.

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Ryan Kingsley

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50 Most Lucrative Business Ideas In Nigeria (2021 Updated)

Last updated on August 9th, 2021 at 12:22 am

Having lucrative business ideas in Nigeria in 2020 has become imperative – for obvious reasons, there are no jobs anywhere!

Plus the only thing that is booming now is the creative industry. Everyone today must come to terms that “It’s not what is done but how it is done” that makes the difference. Hence, knowing the right business opportunities in Nigeria is golden.

Not every entrepreneur starts with a specific business idea in mind. And with so many small business ideas in Nigeria today, it becomes even more complex, right?

It may seem like its good business ideas or best small ideas, but they are not. The most successful small business ideas in Nigeria come from people who work for someone and they believe they can do better.

Some other businesses can start as employees or trainees, and then gradually build skills and experience before hitting a business opportunity in Nigeria. With the right thought and determination, they can fulfil their own small business to make their dreams come true.

Online Business Ideas in Nigeria?

Are you an online person like me?

You fancy spending time online and you want to see how you can also live the computer life?

I have compiled a list of hot online businesses in Nigeria selling like wildfire, I also stated the requirements to get started and exactly how to start.

Read: Hot online businesses in Nigeria

Business Ideas in Nigeria

For beginners with the right skill set, but without a lot of capital and business experience, here is a list of business ideas in Nigeria, I mean a lucrative business in Nigeria. 50 to be exact.

Football Viewing Centre

The love for football in Nigeria is overwhelming, hence football viewing centres have become a lucrative business in Nigeria today. The huge recurring bill from cable TV has made it compulsory for a large percentage of football-loving fans to patronize any local viewing centre around. All that you need to start this business is a huge TV, decoder and space. Amazingly today, there are matches almost every day of the week.

Real Estate

Real Estate is one of the most lucrative businesses in Nigeria and the world at large. There are no mincing words about it. People will always need a roof over their heads. As the population continues to increase, and as status increases, real estate business will continue to boom. As people move to cities, this business keeps booming. Real Estate is a serious business in Lagos and Abuja and some other states in Nigeria.

There are many opportunities in the real estate business. You can choose to work as an agent. Helping people find properties and apartment for fee or commission, there are lots of website doing that today. Also helping property sellers and landlords find buyers or tenants for a fee.

You can develop properties in highly sought after the environment, for sale or rent. You can also invest in lands and either develop or sell when it appreciates.

freelance writing

If you have some writing skills, then you can start a writing business very easily by providing your services to businesses on a freelance basis. Lot’s of bloggers and businesses out there needs a freelance writer. See how you can start freelance writing here , you can also search for freelancing websites and apply.

You can learn how to start a blog quite easily where you post about topics that match your experience and expertise. Blogging is a good way to showcase your expertise and also attract people that needs them. You can learn how to set up a blog in my 14 video course for free.

virtual Assistant

Virtual Assistant can provide various types of online services to businesses and professionals including email organizations and communications, social media scheduling and bookkeeping. So you can start a virtual assistant business as far as you have experience in those areas. Check for opportunities on Upwork or Fiveer.

Home Cleaning Service

For those who enjoy cleaning, or at least keep this in mind, by starting a home cleaning business, a simple direct route can be provided for business ownership. I see opportunities for this now and then, especially in Lagos where everyone seems never to have time.

Child Care Services

If you love and can tolerate children, that is a business idea in Nigeria today, you can start child care or creche business from your home or even provide these services in your family home. You can even start by babysitting or even as a nanny. This service is on high demand in Nigeria because of the working nature of parents.

Event planning

Event planning is a big deal in Nigeria today.

Those who are highly social, party freak, strong organizational and communication skills find it very easy to create a brand in this fast-growing industry in Nigeria.

The event planning industry is the fastest growing business all over the world. It is a kind of business that is well recognized and very lucrative. You too can become a successful event planner in Nigeria.

Fashion Designing

Tailoring in recent years have evolved into a big industry in Nigeria.  If you have an eye for fashion, then you can begin to work on delving into the fashion industry. One of the amazing parts of this is mastering the skill of sewing isn’t much of a big deal. I have friends who have thrown away their certificates and within a few months, they are already in the business of sewing.

Cooking Gas Business

This is an evolving yet untapped business in Nigeria. A lot of people are so focused on Petrol that they overlook cooking gas. Not long ago, I was speaking with a friend who manages a mid-size petroleum company. They are into all petroleum products. He told me they make more money from cooking gas than any other business.

You can supply cooking gas to retailers or you become a retailer and refill gas for end users. Spice it up. This business is very lucrative and it does not cost much to start. You can start small and grow!

Corporate Car Service

Every developing city in the world has demand for a convenient transport system for easy day-to-day running. Nigeria isn’t left behind, as the most populous black nation is no exemption for the quality transport system, especially if you are in a city like Lagos or Abuja. Thanks to Uber, Bolt, Avis and others that have played a huge role in making this easy. So if you have a good car in Nigeria, using for taxi business is a very lucrative business.

Social media manager

If you are knowledgeable about social media , then you can potentially provide your services to various businesses in managing your social media accounts. Managing social media accounts can earn six figures monthly.

Have 10 businesses that will pay you 30k monthly and you easily earn 300k. I showed my students how I did that in my Website Design Mastery Course

Social Media Influencing

For folks that can concentrate more on building social media accounts, can eventually build a business as a social media influencer, which earns money from posting about different brands and promotions. A practical example is Instablog9ja . You will need to have a good following to be able to deploy this model.

Waste Management

Waste management is another business with a lot of future potentials because Nigerians are yet to imbibe the habit of proper waste disposal. However, states like Lagos have been doing a lot to encourage proper waste disposal and management. Now there are several businesses you can start within the waste management niche and these include waste recycling, waste disposal, waste to energy, junk hauling, organic fertilizer production, this will become a big industry in Nigeria in the nearest future.

Clothing Store

The clothing store (boutique) industry comprises of small retail stores that sell a limited range of clothing and accessories. The industry is defined as single-establishment stores only. Clothing stores (boutiques) can be strictly designer based (i.e. only one designer’s collection is sold there ), or sell a mix of designers’ labels that are in demand in the local market. If nothing sells, cloths will, and that is why it is a good business idea in Nigeria today.

Even if you do not necessarily make your items, you can purchase and resell things on Jumia or Konga sites without any prior business experience. I have stories of folks making millions of sales monthly on these platforms. You can even take it a step higher by designing your e-commerce store and sell these products building your brand.

Web Designing

If you have knowledge or experience in web design, then you can provide your services to customers and create your own business as a web designer. Funny enough, folks don’t know you don’t need to write codes to design website. I  have a course that has taught tons of people how to design a website without writing a piece of code.

Knowing how to design a website is an awesome business idea in Nigeria because we are still at the liminal phase of a shift from traditional marketing to digital marketing. The demand for websites is high.

Gaming Business

There are a lot of people who love games, me inclusive. I remember starting a game shop during the ASUU strike in my year 2 at the University of Jos. Starting a gaming business requires that you first love games or hire someone who does and also harness traffic, Almost every cinema houses I see around now have a corner for 4D games. It’s a lucrative business idea for me.

If you enjoy spending time with four-legged friends, you can start a business that offers dog-driven services to pet owners who do not have enough time to run regularly. A lot of people have dogs they don’t have time to cater for. I have a neighbour that pays 20k monthly to someone that calls himself a vet, just because he knows how to take care of his dogs.

Pastry & Baking

Starting a food service business can be quite involved for beginners. But if you enjoy cooking and want to make your first business around it, then you can start a baking business where you sell specific items or custom creations for events outside your home kitchen. Pastry consumption is huge hence it is a good business idea in Nigeria.

Hairdressing

You can start your own business as a hairdresser or hairstylist today. Back in the day, almost all females could dress hair, who would have thought it would become a huge market today?

Makeup Artist

Similarly, you can create a client base and provide make-up services for events, photoshoots or special occasions. You can take it a step ahead by having a beauty studio.

 Music Band

If you are skilled as a musician, you can create a business where you play in events or places and earn a part of ticket sales or business. Because event sells, music sells as well.

Photography

You can also easily start photography services to provide photography services for events or local customers who want to schedule portrait photoshoots. Photography is now a big industry today, you will need to be highly creative to create a niche, and also learn the business angle of it.

Car wash or detail services do not always need to include complex equipment or business skills. You can establish a simple place where you provide services to customers or you can also travel to customers with your extensive supply. With the number of cars in Nigeria and the hangouts we have. I wonder why all hangouts do not have car wash services.

T-shirt Designing

There are tons of online services that make custom T-shirt a lot easier. So you can make your design and sell them online or even supply them.

Poultry Farm Business

Starting a poultry farm in Nigeria might appear easy because it is the easy run to for everyone doing business, but starting it as a business is something entirely different and a little more complex.

This requires that you are not only just a chicken or Turkey farmer but an entrepreneur as well. Starting this business you would need to get the necessary training, define your target market. Again farming is lucrative in Nigeria because of the looming population vis a vis our production rate.

Food Vendor Service

If nothing sells especially in Nigeria, food will sell. “Mama Put” as fondly called is a good business in Nigeria. I remember some years back at my office a vendor took her business differently by packaging a decent plate of a meal for us at the office at Ikeja, Lagos. It cost a little extra, but she offered a decent meal and saved us the stress going down the street to for launch breaks. You can also prepare single-service meals and sell the consumers at your home or ordinary commercial kitchen unless you have the supplies and necessary licenses.

Refurbishing

For those who enjoy working with antiques, you can start a business where customers can bring their items to you for repair or renovation.

Public Speaking

If you have expertise in a given subject, even if you have not done your own business in that place, you can still start a business by offering public speaking services at events or conferences. So many business ideas around public speaking that can be harnessed like selling your books, courses, workshops, etc.

Personal Trainer

Those who have a lot of experience in physical fitness, you can build a client base and start working as a personal trainer from a home gym or even join a commercial gym.

Yoga Teaching

You can be certified as a yoga instructor and can build yoga classes. Yoga is gaining more and more acceptance every passing day and I see a big market come out of it in the nearest future.

Dance Instructor

If you want to teach different types of movements, then you can start your dance classes from your home or a local studio.

Music Teaching

You can also work in one or two groups to offer music lessons or classes in different devices or styles.

Or you can choose to teach in different subjects in one-to-one settings. Providing tuition services to students can be a direct way of starting your first business.

Graphic Designing

If you have design experience, you can work on attracting your customers who need things like a logo or branding design elements.

Tech Support Business

You can also start your technical support company where you provide support to the phone or online people with experiencing technical issues.

Housekeeping

Or if you prefer to work from home instead, you can start a business as a business that provides different homemade services for families.

Affiliate Marketing

If you can create your online network or viewers related to a particular topic, you can start working with different brands as an affiliate and earn a part of every sale of your sale.

YouTube also provides a popular forum for people to share information about many different topics. And you can earn a part in advertising revenue by posting and promoting your videos.

You can also start your podcast to earn revenue from your show and sell ad space or work with brands. Soundcloud, iTunes, and others have made it easy to host your podcast shows. Radio is coming to the internet and when it does, podcasters will be ahead, that is why it is an awesome business opportunity in Nigeria.

Ebook Publishing

Writing a book is not an easy venture. But there is no official professional experience required to publish it and sell your ebook online. Self-publishing is a big industry right now, thank God for a platform like Okada Books in Nigeria today. You can even sell your ebook on your blog or website.

Interior Decorating

You can start the business as an interior decoration without any expensive equipment or complex business knowledge. Once you have basic decoration skills, then events, houses, offices will need them.

Pool Cleaning

If you want to spend time outside and want to provide services to hotels or private houses, pool cleaning is another beautiful direct service around which you can make a business. Because it is recurring makes it a great business idea in Nigeria.

You can also build or retract your furniture and then sell it in local boutiques or even art fairs or similar events. This is one of those business ideas in Nigeria, people do not take seriously, once this is creative, it sells.

If you want to work from home or even just want to make a small side business, then you can provide proofreading services to business, authors or individuals who want to pay someone to vet their work.

Resume Service

You can also concentrate on helping local job seekers who need some help in keeping their resumes or cover letters together. There are lots of CVs and Resume flying around, creating a directory online can be a step in the right direction.

Create An Online Course

We are all good at one thing or the other, and several others are always looking to pay someone to learn new skills. Perhaps, you can teach them something they need to know and you get paid for it – to me is a good business idea in Nigeria!

There are several online learning platforms to share your skills. But, you might have the most success at Udemy or you can design your platform and keep 100% profit.

All courses are video-based. You can also include worksheet exercises to help your students.

Party Rental Services

Parties are big deals in Nigeria, needless to say, the sequel to this, rental services has become a lucrative business in Nigeria today. You may need to connect with lots of events planners so that any equipment you have for rent gets busy every week. You can rent from halls to canopies to sound system and there are lots of business ideas related parties.

Translator/ Language Teacher

If you know many languages, you can create a business by providing translator services to individuals or businesses in need of assistance in converting conversations or documents from one language to another. You do not even need to go far, there are lots of families that need people to teach the kids their local dialect. If you are fluent in Yoruba, Igbo, Hausa, etc, then you can start from there.

There are loads of business ideas one can look into in Nigeria today, well, It is not really what you do that makes the difference but how you do what you do. Pick one of the business ideas, improve upon what has been offered in the industry, create a better product/service and in no time you will have a strong brand and you start creating passive income as well.

All the best in your business endeavours.

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Joshua johnson.

Who that can help me in business. i need your help. +2348032637317

This was really beautiful, exact and straight to the point. unlike other articles with big grammar, outdated sources and less of the know how’s on making things work or come to reality.

Newton Onukwusi

Nice list, so many options to choose from.

Hello, A very nice to read from a young enterprising man with great vision for a better tomorrow in blogging business, Thumbs up. After reading through all your write up my spirit is lifted, Pls help me cos am a bit confused, I like or rather lo e anything clothing most especially male wears but I really do not know how to go about it selling in social media and where to buy from in less prices(wholesale).

Thanks Goodness for the kind words. for buying wears in wholesale I can’t tell exactly where to buy and how to go about the business as I have not done that personally before. I also do not know where you are reading my blog. My advice is that you engage someone you know have done the business before for some tips. We have loads of them on social media.

Akinmusire Oluwaseyi

Thanks alot for this. I’m a sport enthusiastic, how do I try this into a profession and make something from it. Thanking you for your help.

Making money from sport is the easiest lately. You can start a betting business, you can start a viewing centre, you can start a sport blog, you can start a sport YouTube channel etc. People are crazy about football in Nigeria and it means its a viable place to invest in.

Please I’ve been so eager to know how to run a YouTube channel for my stylish profession. I’ll be grateful if you can properly guide me to my dreams land, Hope to hear from you soon, thanks blogger

Wow thumbs up for the good ideas, please I want to know how I can advertise my goods on Facebook

Thanks Ayodamola, easy thing bro, create a facebook page, then you have the option to create a FB business account, fund the account since it is prepaid, then run your ad. Not a big deal, but again to optimize your ads for best results, you may need to hire an expert or learn FB ads, you should be able to see tutorials on YouTube to guide you.

My name is Ndubisi. Im a young man in my late twenties. I have discovered that I have this gift of making people happy by providing services (suppier) like cleaning, driving, and also helping them getting the right prices for iteams without being paid officially or discusing prices. I really need help on how to make THIS work I.e, turn my passion into a lucrative business that I can earn a living from. Thank you . I will be grateful if I can get a response from you.

Thanks Ndubisi for stopping by. The answer is obvious, start charging for your services. I know people like free things and take advantage of people who give it to them free. I know how difficult it is to let them know the next time that you cannot do this for free, but you have to. Many of them would not need your services anymore but a few would and that is a good way to start. There is no limit you can take this to, you can grow it as big as creating domestic staff for people, which means you becomes the manager of a business and have people who can do all the domestic services.

Hi, I don’t even know how I ended up here. But I must admit that u are awesome!!!? Pls I have a very complicated issue right now. Am a professional hair stylist but getting a shop is not coming easy. So I thought of just doing my thing at home and post online. Now my problem is how do I post on YouTube and monetize it.( At least with that I’ll be motivated) Not forgetting i don’t even have a single subscriber on my page yet. Help a bro pls. What to do.(confused)?

Hi Babatunde, thanks for dropping a comment. Being a professional hair stylist is good stuff and quite lucrative today. drop me an email at [email protected] , I’ll be glad to point yo in the right directions.

Please,how do I get traffic if I’m doing affiliating marketing?.

Hey Nicky, there are basically two ways to get traffic, whether it is affiliate marketing or whichever marketing, paid or free. It’s usually to check which is convenient for you. For paid you will have options to run ads with social media, sponsored post on blogs, social media influencers, PPC, SEM etc. For free which is usually the hardest, you would have rely on Search engines (SEO), social media, forums, comment sections, video marketing with YouTube etc. I hope this helps.

Maxwell Guler

I read through your blog post here. I wanted to ask you something though… I was curious your thoughts on learning how to be a business owner. Do you know of a good way to learn? I’m trying to start a landscaping company but I’m really worried because I know the failure rate for new businesses is really high. Eagerly awaiting your reply. 🙂

Please send me an email at [email protected]

Georgene Dejoie

I do not even know how I ended up here, but I thought this post was great. I do not know who you are but definitely you’re going to a famous blogger if you are not already 😉 Cheers!

Many thanks

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Top 55 Business Ideas in Nigeria: Start with Low Investment Now!

Are you thinking about starting a business in Nigeria? You’re stepping into a world full of both chances and challenges. Nigeria is one of Africa’s biggest economies. It has a large market and many customers ready to buy various goods and services. But it’s not always easy to do business here.

Why is having a business important in Nigeria? It’s a key way to help the country grow and provide jobs for many people. Starting a business can help solve unemployment problems and add to the country’s wealth. It’s a chance to bring new ideas and services to people who need them.

In this guide, you’ll learn about different business ideas in Nigeria. Each one has its own place in the country’s unique business setting. Are you ready to learn more? Let’s get started and discover the many opportunities in Nigeria’s business world.

Table of Contents

Why Start a Business in Nigeria?

Vast Market Potential

Why should you consider starting a business in Nigeria? One big reason is the vast market potential. Nigeria has a large population, which means a lot of potential customers for your business. Whether it’s a product or a service, there’s a good chance that many people are looking for what you have to offer.

Entrepreneurial and Innovative Culture

Nigeria is known for its strong entrepreneurial spirit. People here are always looking for new and innovative solutions to problems. This culture of innovation makes it a great place to start a business. You’ll find a community ready to support and collaborate with you as you work to grow your business.

Rapid Technology Growth

Technology is growing fast in Nigeria. More and more people are getting access to the internet and using smartphones. This growth in technology means that businesses have new ways to reach customers and offer their services. It’s a great time to take advantage of these technological advances to start and grow a business in Nigeria.

Starting a business in Nigeria is not without its challenges, but the opportunities are vast. With the right idea and a solid plan, you can build a successful business in this thriving market. 

Comprehensive List of 55 Business Ideas in Nigeria

1. baking and confectionery business.

If you have baking skills, starting a baking and confectionery business is a sweet idea in Nigeria. You can sell cakes, pastries, and other baked goods. The investment includes baking equipment and ingredients. Ensuring quality, taste, and beautiful presentation will help you attract customers.

2. Hair and Beauty Salon

A hair and beauty salon is a popular business choice in Nigeria. People always want to look their best, and they seek professional hair and beauty services. The investment includes setting up a salon and buying beauty products and equipment. Offering excellent and diverse beauty services will help you stand out in this industry.

3. Tailoring/Clothing Alteration Services

If you have tailoring skills, offering clothing alteration services is a practical business idea in Nigeria. Many people need tailoring services to adjust or repair their clothes. The investment is low, mainly for sewing equipment. Providing precise and timely tailoring services will help you build a loyal clientele.

4. Recycling Business

Starting a recycling business is not only profitable but also eco-friendly. You can collect and recycle various materials, such as paper, plastic, and metal. The investment includes setting up a recycling facility and equipment. Ensuring efficient and sustainable recycling processes is crucial for success in this business.

5. Waste Management Services

Waste management services are essential for keeping the environment clean and healthy. You can offer waste collection and disposal services to households and businesses. The investment includes waste collection vehicles and equipment. Providing reliable and eco-friendly waste management services is essential for growing your business.

6. Water Refilling Station

A water refilling station is a vital business in Nigeria, where clean water is in high demand. You can offer clean and safe drinking water to communities. The investment includes setting up a water refilling station and water purification equipment. Ensuring the consistent quality and availability of water is crucial for success in this business.

7. Car Rental Services

Car rental services are in demand for tourists, businesses, and individuals who need a vehicle temporarily. You can start a car rental service with a fleet of cars for rent. The investment is significant, and ensuring your vehicles are well-maintained and offering excellent customer service is essential for success.

8. Delivery/Courier Services

With the growth of e-commerce and the need for fast and reliable delivery, starting a delivery or courier service is a timely business idea in Nigeria. The investment includes vehicles and a system for tracking and managing deliveries. Offering timely and safe delivery services will help you build a reputable delivery business.

9. Child Care Services

Child care services are in high demand in Nigeria as more parents are working and need a safe place for their children. Your investment includes creating a safe and engaging environment for children. Offering loving and reliable child care services will help you build trust with parents and grow your business.

10. Elderly Care Services

Elderly care services are becoming increasingly necessary in Nigeria. You can offer various services, including companionship, medication management, and assistance with daily tasks. The investment is moderate, and providing compassionate and respectful care is essential for success in this field.

11. Bookkeeping Services

If you have a background in finance or accounting, offering bookkeeping services is a great business idea. Many small businesses in Nigeria need help managing their finances. The investment is low, mainly for software and marketing your services. Ensuring accuracy and reliability in your services will help you attract and retain clients.

12. Career Counseling

Career counseling is a valuable service for individuals seeking guidance in their career paths. You can offer your expertise and help people make informed career decisions. The investment is minimal, and providing insightful and practical advice is crucial for building a reputable career counseling business.

13. Resume Writing Services

Resume writing services are in demand as individuals seek professional help to create impactful resumes. If you have skills in writing and understanding of recruitment trends, this is a suitable business idea. The investment is low, and ensuring you create high-quality, tailored resumes will help you grow your business.

14. Language Teaching

Language teaching is a profitable business idea in Nigeria, especially for widely spoken languages like English, French, or Chinese. You can offer language classes to individuals or groups. The investment is low, and providing effective and engaging language instruction is essential for success.

15. Art and Music Classes

If you are skilled in art or music, offering classes is a wonderful business idea in Nigeria. Many people are interested in learning various art forms and musical instruments. The investment includes buying materials or instruments and setting up a suitable space for classes. Ensuring you provide valuable and enjoyable learning experiences is crucial for attracting and retaining students.

16. Computer Training Services

With the growing importance of digital skills, computer training services are a lucrative business idea in Nigeria. You can offer courses in various computer skills and software. The investment is moderate, and ensuring your courses are up-to-date and practical is essential for success.

17. Mobile Car Wash Services

Starting a mobile car wash service is a practical business idea in Nigeria. With the busy lifestyle , many car owners prefer convenient mobile car wash services. Your investment includes cleaning equipment and a vehicle. Offering excellent and timely services will help you build a loyal customer base.

18. Agricultural Business

Agriculture is a fundamental part of Nigeria’s economy. You can start various agricultural businesses, such as crop farming or livestock rearing. The investment and challenges depend on the type of agriculture business you choose. Ensuring sustainable and efficient farming practices will help you succeed in this sector.

19. Poultry Farming

Poultry farming is a profitable business in Nigeria. You can rear chickens for meat or eggs. The investment includes setting up a poultry farm and buying feed and equipment. Ensuring the health and well-being of the poultry is crucial for success in this business.

20. Fish Farming

Fish farming is another lucrative agricultural business in Nigeria. You can start a fish farm to supply the high demand for fish in the market. The investment includes setting up fish ponds and buying feed. Ensuring proper care and management of the fish farm is essential for profitability.

21. Snail Farming

Snail farming is a unique and low-investment business idea in Nigeria. Snails are in demand for their meat and other products. The investment is low, and ensuring the right environment and care for the snails is crucial for successful snail farming .

22. Beekeeping

Beekeeping is a profitable and eco-friendly business idea in Nigeria. You can produce and sell honey and other bee products. The investment includes buying beekeeping equipment. Ensuring the health of the bees and sustainable beekeeping practices is essential for success.

23. Fashion Designing

If you have a passion for fashion, starting a fashion designing business is a great idea in Nigeria. You can design and create clothing and accessories. The investment includes buying materials and equipment. Staying updated with the latest fashion trends and offering unique designs will help you stand out in the fashion industry.

24. Homemade Food Production

Homemade food production is a viable business idea in Nigeria. You can produce and sell various homemade foods, such as snacks, condiments, or baked goods. The investment is moderate, and ensuring food quality and hygiene is crucial for attracting customers.

25. Translation Services

In a multilingual country like Nigeria, translation services are essential. If you are fluent in multiple languages, this could be a great business for you. The investment is minimal, mostly for marketing your services. Ensuring accuracy and timeliness in your translations will help you build a good reputation.

26. Pet Sitting/Grooming Services

With the growing love for pets in Nigeria, pet sitting and grooming services are becoming popular. You can offer to take care of pets and provide grooming services. The investment includes grooming equipment and possibly a suitable vehicle. Offering loving and reliable service will help you attract pet owners.

27. Home Renovation Services

Home renovation services are in demand as people seek to improve and beautify their homes. If you have skills in home renovation and repair, this could be a profitable business. The investment includes tools and equipment. Providing high-quality and timely services will help you grow your business.

28. Personal Chef Services

If you are a culinary expert, offering personal chef services is a unique business idea in Nigeria. You can offer to cook for families, small events, or special occasions. The investment is moderate, mainly for cooking equipment and ingredients. Ensuring delicious and hygienic food will help you build a loyal clientele.

29. Mobile Phone Repair

With the increasing use of mobile phones in Nigeria, mobile phone repair services are in high demand. You can offer to fix various phone issues. The investment includes repair tools and spare parts. Offering quick and reliable service will help you attract and retain customers.

30. Online Courses/Coaching

If you have expertise in a particular field, offering online courses or coaching is a great business idea. You can share your knowledge with people seeking to learn and grow. The investment is low, mainly for setting up a website and marketing your courses. Ensuring your courses provide value and help learners achieve their goals is crucial for success.

31. SEO Consulting

As businesses seek to improve their online presence, SEO consulting services are in demand. If you have knowledge of SEO, you can offer your services to help businesses rank higher on search engines. The investment is minimal, and staying updated with the latest SEO trends and techniques is essential for success.

32. Digital Marketing Agency

Starting a digital marketing agency is a lucrative business idea in Nigeria. You can offer various digital marketing services, including social media marketing, email marketing, and pay-per-click advertising. The investment includes setting up an office and marketing your services. Offering effective and results-driven marketing strategies will help you attract businesses seeking to grow online.

33. Photography Services

Photography services are a popular business choice in Nigeria. With events and celebrations happening frequently, good photographers are in demand. You’ll need to invest in quality camera equipment and editing software. Building a portfolio and offering exceptional service will help you stand out in this competitive market.

34. Real Estate Brokerage

The real estate market in Nigeria is growing, and starting a real estate brokerage can be profitable. You can help individuals find properties that suit their needs. The investment is low, but you’ll need to understand the local real estate market and regulations. Networking and building relationships with property owners and other brokers is essential for success.

35. Travel Agency

With the increasing interest in travel, starting a travel agency is a viable business idea in Nigeria. You can help individuals and groups plan their trips and get the best travel deals. The investment includes setting up an office and marketing your services. Offering excellent customer service and providing unique travel experiences will help you attract and retain clients.

36. Dropshipping Business

A dropshipping business is a low-investment e-commerce model where you sell products but don’t handle them physically. It’s a good business idea in Nigeria as e-commerce is growing rapidly. The challenge is to choose the right products and suppliers and effectively market your e-commerce store.

37. Mobile Food Cart

A mobile food cart is a great business idea for those who love food and want to serve delicious meals to people. You can start with a small cart and offer a limited menu. The investment is moderate, and offering tasty, hygienic food and good service will help you grow your mobile food cart business.

38. Catering Services

Catering services are in demand for various events and occasions in Nigeria. If you love cooking, this could be the business for you. You’ll need to invest in cooking equipment and materials. Ensuring food quality, hygiene, and timely service is crucial for success in the catering business.

39. Laundry Services

Many people in Nigeria are looking for reliable laundry services, making it a good business idea. The investment includes washing machines and other laundry equipment. Offering timely and quality service will help you build a loyal customer base.

40. Fitness Coaching

As awareness about health and fitness grows, fitness coaching is becoming a popular business idea in Nigeria. You can offer personal training or group fitness classes. The investment is moderate, and having certification and expertise in fitness training is essential for success.

41. Freelance Writing Services

If you have a knack for writing, starting a freelance writing service could be a great business idea in Nigeria. You can offer your writing services to businesses, bloggers, and websites. The investment needed is minimal, mainly for marketing your services and setting up a website. The challenge is to build a portfolio and client base, which you can overcome by offering high-quality work and networking.

42. Graphic Design Services

With the increasing need for online presence, graphic design services are in high demand. If you have graphic design skills, you can start offering your services to businesses and individuals. You’ll need to invest in design software and a good computer. Building a portfolio and staying updated with the latest design trends will help you attract clients.

43. Online Tutoring

Online tutoring is another lucrative business idea in Nigeria. If you are knowledgeable in a particular subject, you can offer online tutoring services to students. The investment is low, requiring a stable internet connection and a computer. The challenge is to market your services and ensure you provide value to your students, helping them improve academically.

44. Virtual Assistance

Many businesses are outsourcing tasks to virtual assistants to focus on core business activities. As a virtual assistant, you can offer various services, including email management, scheduling, and administrative tasks. The investment needed is minimal, and the key to success is effective communication and reliability.

45. E-commerce Store

Starting an e-commerce store is a promising business idea in Nigeria. You can sell various products online, reaching a wide audience. The investment includes setting up a user-friendly and secure website, and marketing your store. Overcoming challenges such as logistics and customer trust is crucial for success in the e-commerce sector.

46. Food Delivery Service

In the fast-paced world, food delivery services are booming in Nigeria. You can collaborate with local restaurants to deliver food to customers’ doorsteps. The initial investment includes a reliable vehicle and a system to receive orders. The challenge is ensuring timely and safe delivery, which you can achieve with a robust logistics plan and good customer service.

47. Consulting Services

If you have expertise in a specific field, consulting services can be a profitable business. You can offer your knowledge and skills to help other businesses grow. The investment is low, mainly for marketing and setting up an office space. Building a network and showcasing your expertise will help you attract clients.

48. Health and Wellness Coaching

The awareness of health and wellness is increasing, making it a viable business idea in Nigeria. As a health and wellness coach, you can offer guidance and support to individuals seeking a healthier lifestyle. The investment includes certification and marketing your services. Ensuring you provide value and results to your clients is crucial for success in this field.

49. Handmade Crafts Selling

If you are skilled in making handmade crafts, you can turn your hobby into a business. You can sell your crafts online or at local markets. The investment is moderate, depending on the type of crafts you make. The key to success is offering unique and high-quality products and effective marketing.

50. Event Planning Services

Event planning services are in demand as people seek professional help to organize various events. If you have organizational skills, you can start an event planning business. The investment includes marketing and possibly hiring a team. Overcoming challenges such as meeting clients’ expectations and handling logistics is essential for success in the event planning business.

51. Cleaning Services

Starting a cleaning service is a practical business idea in Nigeria. Many individuals and businesses are looking for reliable cleaning services. You’ll need to invest in cleaning equipment and materials. The challenge is to ensure consistent high-quality service, which you can achieve by training your staff well and using the best materials.

52. Personal Shopping/Styling Services

If you have a good sense of style and understand fashion trends, a personal shopping or styling service could be a great fit. You can help individuals enhance their style and wardrobe. The investment is low, and the key to success is building a portfolio and networking to attract clients.

53. Social Media Management

As businesses understand the importance of a strong online presence, social media management services are in demand. You can offer to manage social media platforms for businesses, helping them grow their online audience. The investment is minimal, and staying updated with the latest social media trends will help you succeed.

54. Affiliate Marketing

Affiliate marketing is a low-investment and potentially lucrative business idea in Nigeria. You can promote products or services and earn a commission for every sale made through your referral. The challenge is to choose the right products to promote and use effective marketing strategies to reach a wide audience.

55. Blogging/Vlogging

If you have a passion for a particular topic, blogging or vlogging could be a profitable business idea. You can share your knowledge, insights, and experiences with a global audience. The investment includes setting up a blog or YouTube channel and marketing your content. Consistently producing high-quality and engaging content is crucial for attracting and retaining your audience.

Analysis of Selected Business Ideas

Investment needed.

Every business requires some level of investment. It’s essential to know how much you need to start and run your business in Nigeria. This includes costs for things like renting a space, buying equipment, and marketing your business. A clear idea of the investment needed will help you plan better and avoid unexpected expenses.

Potential Returns

Understanding the potential returns is also vital. You should have a clear picture of the profits you can expect from your business. This will help you decide if the business idea is worth pursuing. It’s important to be realistic and consider various factors that can affect your returns.

Challenges and How to Overcome Them

Starting a business in Nigeria comes with its own set of challenges. You might face issues like bureaucratic hurdles, competition, and market fluctuations. But don’t let these challenges deter you. It’s crucial to identify potential problems and find ways to overcome them. This might include getting the right permits, understanding the market, and creating a strong business plan.

Step-by-Step Guide to Starting a Business in Nigeria

Starting a business in Nigeria is an exciting venture, but it’s essential to follow the right steps to ensure your business thrives. Below is a straightforward guide to help you navigate the process.

Legal Requirements

Before you start, understand the legal requirements . You need to register your business with the Corporate Affairs Commission (CAC) in Nigeria. Make sure you have all the necessary permits and licenses to operate legally. It’s also crucial to know the tax obligations for your business.

Business Planning

A solid business plan is the backbone of your business. It outlines your business goals, target market, competition, marketing strategies, and financial projections. Take your time to research and create a comprehensive business plan. It not only guides you in running your business but also is essential for attracting investors and lenders.

Funding Opportunities

Funding is a significant aspect of starting a business. Explore various funding opportunities available in Nigeria. You can consider personal savings, loans from banks or microfinance institutions, or seeking investors. There are also grants and competitions that support new businesses in Nigeria.

The most lucrative businesses in Nigeria include agriculture, real estate, e-commerce, and technology-based services.

To start a small business in Nigeria, create a solid business plan, understand the legal requirements, secure funding, and effectively market your products or services.

With 500k, you can start a variety of businesses in Nigeria, such as a small food cart, a freelance service business, or a retail kiosk.

The best business to start in Nigeria is one that aligns with your skills, passion, and the market demand, such as e-commerce, agriculture, or technology services.

Nigeria is full of chances for starting many different kinds of businesses. It’s important to learn about the market, make a strong plan, and know the rules for starting a business in the country. Choose a business that you are passionate about and that people need. Now is the time to take action. Use the information and ideas in this guide to start your own business in Nigeria today. Let’s make it happen together!

The Editorial Staff at Business Ideas Deck is committed to helping you find the perfect startup idea. We offer a curated range of promising opportunities, all aimed at guiding you to entrepreneurial success. Explore, choose, and launch your business with us today!

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25 Hot Business Ideas in Nigeria (2023)

Updated on November 5, 2023

Do you want to start a lucrative business in Nigeria? It doesn’t matter if you’re a first-time entrepreneur or if you have some experience, these hot business ideas in Nigeria can help you become a successful Nigerian business owner .

Starting a business in Nigeria can be a daunting task, but with the right business idea and strategy, anyone can take advantage of opportunities and succeed in this lucrative market.

When you have valuable skills or expertise, it can be easier to start a business with low capital. But without a marketable skill or expertise, you’ll have to find trending hot business ideas in Nigeria so you can make money easily.

Let’s get started, here are the best hot business ideas in Nigeria that you should consider starting right now

Running startups in Africa and especially in Nigeria can be painstakingly hard but Nigerian startups are raking in millions of dollars in Venture capital and angel investing.

Starting a startup is one of the most interesting business ideas in Nigeria for anyone. However, you have to choose a good problem to go after or solve. As long as it’s a profitable problem that can be solved with tech, and you believe you are equipped to solve this problem then you should take the leap and launch your startup.

You’ll need a very small but effective team that will form the foundation of a positive strong company culture. Some of the markets in Nigeria where startups are thriving and where you should look to target include fintech, healthtech, and e-commerce.

429 People are Reading: Profitable Businesses to Start with 500k in Nigeria

2. Auto Body Repair Business

Because of how often cars get into minor or major accidents, car owners often carry out body work on their vehicles.

If you’re interested in the automotive space, then an Auto body work business is a good choice as it’s a thriving and profitable business.

For this business to succeed you’ll need to open an auto body repair workshop. You would need to learn the business to have any chance of succeeding.

You can combine your auto body repair workshop with an automobile spraying and branding service.

There are so many extra ways to make money from this business. You can sell drinks as well as suya with this business idea. You’ll need to make the place comfortable for customers. You can add a TV where people can watch sports or movies.

The requirements for this business include an open space as well as an enclosed place like a shop. You can use an iron container as the shop for the barbing salon. You’ll need a water source(maybe a borehole), a generator, a chair and benches. Barbing salon equipment.

For this business to work. You’ll need to get to a very good location where plenty of cars can park. You’ll have to employ at least 3 to 4 people. 2 people to wash cars and 2 barbers for the salon.

Starting this business idea in Nigeria can cost you at least N500,000.

When there’s a dent or patch on a car’s body and it is worked on, there is the likelihood that the car owner will have the body of the car re-sprayed, in order for the car to look new and presentable.

Top 18 Small Business Ideas in Nigeria 2023

3. Car Wash + Barbing Salon Business

A car wash plus a barbing salon business will be more lucrative than if you started them separately.

People can come and get a haircut while they wash their car. You help them kill two birds at a time.

There are so many extra ways to make money from this business. You can sell drinks as well as suya with this business idea. You’ll need to make the place comfortable for customers. You can add a tv where people can watch sports or movies.

The requirements for this business include an open space as well as an enclosed place like a shop. You can use an iron container as the shop for the barbing salon. You’ll need a water source(maybe a borehole), a generator, a chair and benches and barbing salon equipment.

For this business to work. You’ll need to get to a very good location where plenty of cars can park. You’ll have to employ at least 3 to 4 people. 2 people to wash cars and 2 barbers for the salon. Starting this business idea in Nigeria can cost you at least N500,000.

Checkout: Best Business Apps in Nigeria

4. Online Retail Store

With the growing popularity of e-commerce in Nigeria, starting an online retail store can be a profitable business idea. You can sell a variety of products, from clothing and accessories to electronics and household items. Or you could go more niche and sell only glasses or sneakers.

To succeed in this business, you’ll need to focus on building a strong brand and delivering excellent customer service.

311 People are Reading: Best Online Business in Nigeria that Pays

5. Social Media Management

Social media has become an essential part of business marketing in Nigeria, and many businesses are looking for experts who can manage their social media accounts.

If you have experience in social media marketing, starting a social media management business can be a lucrative idea.

You’ll need to stay up-to-date on the latest social media trends, provide engaging and relevant content, and track and analyze your clients’ social media performance.

See: Business Ideas for Ladies in Nigeria

6. Freelance Writing

If you have a talent for writing, starting a freelance writing business can be a great way to earn money from home.

You can offer your services to clients who need articles, blog posts, website content, or marketing copy.

To succeed in this business, you’ll need to have excellent writing skills, a strong portfolio, be able to market yourself and your business and the ability to meet deadlines.

7. Graphic Design Services

With the increasing importance of visual content in marketing, graphic design services are in high demand in Nigeria.

You can start a graphic design business by providing services like logo design, branding, web design, and print design.

To succeed in this business, you’ll need to have strong design skills, use the latest design tools and software, and stay up-to-date on design trends.

8. Beauty and Personal Care Products

Nigeria has a large beauty and personal care market, and there are many opportunities for small business owners in this industry.

You can start a business by creating and selling your own line of beauty and personal care products, such as skincare, haircare, and makeup products.

To succeed in this business, you’ll need to create high-quality products, use safe and natural ingredients, and develop effective marketing strategies to reach your target audience.

9. Photography & Videography Services

Nigeria has a large and growing media industry, and there are many opportunities for small business owners in photography and videography.

You can start a photography or videography business by providing services like event coverage, portrait photography, or commercial photography and videography.

To succeed in this business, you’ll need to have a good eye for detail, use high-quality equipment, and provide excellent customer service to your clients.

10. Home Decor and Furnishing

Nigeria has a growing middle class, and there is a growing demand for home decor and furnishing products.

You can start a business by creating and selling your own line of home decor and furnishing products, such as furniture, bedding, and accessories.

To succeed in this business, you’ll need to create high-quality products, offer unique and trendy designs, and develop effective marketing strategies to reach your target audience.

11. Tour and Travel Services

Nigeria is a beautiful and diverse country, and there is a growing demand for tour and travel services . You can start a tour and travel business by providing services like tour packages, transportation services, and travel planning services.

To succeed in this business, you’ll need to have a deep knowledge of Nigeria’s tourist attractions , provide excellent customer service, and develop strong relationships with hotels, airlines, and other travel service providers.

12. Blogging

A blog is still one of the best business ideas in Nigeria you can start. But it can’t just be the usual blog. It has to be different.

There are only two types of blogs you can start with. Niche blogs or Lifestyle blogs. Lifestyle blogs allow you to write about everything but with Niche blogs you write about one thing. 

Lindaikeji is a lifestyle blog. Starting a blog about Bitcoin is a niche blog .

Niche blogging offers certain advantages over lifestyle blogging. Because you’re writing about one thing with a Niche blog you can get more solid methods of finding ideas.

Niche blogs also give you a reliable audience. An audience you can understand and one that will understand the type of blog you’re running.

Starting a new blog involves planning and research. Starting a blog is the easy part. What the blog should be about is the important thing.

You need to be very selective of the niche topic your blog will be about . You can choose to blog about a passion of yours or about a topic that interests you. 

You also need to research keywords in your niche. If you’re a blog about travel in Africa. Some of your keywords might be: “holiday in Africa”, and “hotels in Africa”. You can come at a keyword from a different perspective.

The main thing with keywords is that you have to understand search intent . It’s not enough to know what people are searching for, you should also know how they are searching for it, and the structure of the words or sentences they use when they search online. 

You’ll also need to pick up SEO skills.

You’ll also have to think about how you’ll make money from your blog. Are you going to monetize your blog through ads, Affiliate partnerships, digital products or even consultations?

One of the easiest ways of starting a blog is buying a domain name and hosting on Hostgator and installing WordPress. Here’s how to start a blog in Nigeria for beginners or anyone.

Whatever you don’t understand. Google is your friend.

13. Phone Accessories Business

The reason this is on this list of business ideas in Nigeria is because of the booming smartphone market in Nigeria. Every day thousands of phones and phone accessories are bought in this country.

Selling phone accessories can be a very competitive business in Nigeria. But it is also one of the current lucrative business ideas in Nigeria. You can buy an accessory for 1000 and sell it for anywhere from N1,500 to N1,800.

As more people go online via smartphones, they will need to replace phone parts as well as accessories. The market is only going to get larger.

Some of the phone accessories that you can sell include batteries, phone cases, chargers, earpieces, headsets and memory cards. You can get them from phone markets like Computer Village in Ikeja.

You’ll need a shop or a store to act as your warehouse as well as a sale point.

Getting a shop for your phone and phone accessories business will cost from N150,000 to N350,000 depending on your location. You also need to buy stock to kick off the business. This can put you back anywhere from N100,000 to N200,000.

14. Gym & Fitness

This is one of the untapped business ideas in Nigeria.

People will always look to get fit. There are positive signs that the health and fitness industry will continue to grow globally as it continues to thrive as one of the world’s largest growing industries.

People are becoming more self-aware of their health, especially with the recent coronavirus pandemic. A well-run gym is a good business opportunity in Nigeria. that can provide you with a stable income.

On social media, people see celebs, their friends and strangers go to the gym to keep fit. 

Starting a gym business requires significant capital. You’ll need a location (medium-sized space), Gym equipment and a gym instructor.

Starting a gym business in Nigeria can cost from N500,000 to N5 Million. Depending on whether you have a space already or not and the type of gym equipment you purchase. Do you want to get new gym equipment or get some clean used ones? 

15. Mini Importation Business

The importation business is still one of the hottest business ideas in Nigeria. This business has made a lot of people millionaires in Nigeria.

Mini importation business usually involves importing items (usually in a particular category like fashion and beauty) at a low price through eCommerce sites like Alibaba, Aliexpress, 1688.com and DHgate. You then sell those items at a higher price and make a profit. With about N100,000 or even less, you’re open for business.

But before you start importing items for sale, you need to decide the items you want to sell. This will depend on your research to identify people’s demands.

One way to find out what people are looking for in Nigeria is to use a Google search.

You also have to decide how you intend to sell your imported goods. Do you start your own online store or use 3rd party eCommerce sites like Jumia and Konga or listing sites like Olist and Jiji.

You can also decide to do all your sales via social media sites like Instagram, Facebook and Twitter.

There are so many items to import and sell. Like fashion and beauty items, phone accessories, and even home items.

Checkout: Best Online Shopping Sites in Nigeria

16. Mobile Food Truck Business

I know, there are a lot of food businesses around now. Especially online food vendors, but a mobile food truck business idea in Nigeria offers a different twist. 

A food truck offers a way for your business to differentiate itself from other food businesses. For this business to work, a prime location is needed. A location that has a lot of foot traffic is perfect.

Your menu also offers a way for you to differentiate yourself. Going Niche will always pay you. You cannot serve everybody.

Apart from selling from a particular location, You can also serve on occasion since your food truck is mobile.

You can also partner with companies near where you park your food truck, to supply them with lunch. That’s why where you choose to park your mobile food truck is very important. 

The main requirement for this business idea is the food truck. You can search Google for where to buy a food truck. I’m sure you’ll find some solutions.

Checkout: Top Daily Income Business in Nigeria

17. Sports Betting Shop

Sports betting is currently a business goldmine in Nigeria and it will continue to grow. The amount of people betting in Nigeria right now is insane. The biggest search on Google in Nigeria right now is about betting sites.

Betting has become one of the biggest alternatives for making money on the side in Nigeria. You can take advantage of this by opening a betting shop. 

The sports betting business would require you to become an agent with one of the prominent sports betting companies in Nigeria like Sportybet, Bet9ja and Betking.

You’ll need a shop, computers , monitors, printers, an internet router and a betting tile. You’ll need at least N400,000 to N700,000 to start a sports betting business in Nigeria.

This business idea in Nigeria can net you anywhere from N150,000 to N400,000 per month depending on your location.

18. Sell Used Clothes (Okrika)

This is one of the business ideas in Nigeria with very high-profit margins.

Nigerians buy used items more than they buy new ones. Because of the bad financial situation of the country. So most people looking to buy clothes buy second-grade clothing.

When they wear it you can’t tell if they bought it from a boutique or not. You can buy bales of used clothes from Aba, Onitsha and Lagos and sell them in other cities.

Even if you’re in a city like Lagos where used clothes are everywhere you can decide to sell them online via social media. You just have to be creative.

When you buy them, take very good pictures of them and upload them to social media for people to buy. You don’t exactly need a shop to sell used clothes in Nigeria.

Except you’re in a rural or suburban location. You can start this business idea in Nigeria with little capital of N70,000 to N200,000.

For this business idea, you’ll have to start locally but think globally.35. Bike Delivery Business

19. Bike Delivery Business

Nigeria’s population and its bad road infrastructure mean people face difficulty in getting things from point A to point B. 

A bike delivery business is one of the hottest business ideas in Nigeria for taking advantage of this crisis.

You can start this business with two bikes delivering documents, food and other items for people. This business can also work in almost every state in Nigeria.

Checkout: Best Delivery Services in Lagos Nigeria

If you want to start this business, I’ll advise you to start it outside Lagos because of the amount of delivery business in Lagos of late.

You’ll need to get responsible and reliable drivers for this business idea to work out. Your pricing too will also help especially at the beginning of the business.

If you offer better prices than your competitors and always make deliveries early, customers will likely choose you over the competition.

Also See: International Courier Services in Nigeria

20. Social Media Marketing Agency

One of the best online business ideas in Nigeria that you can make money from.

Social media marketing involves generating marketing leads for businesses using social media .

Most business owners just want to run their businesses without having to deal with the headache of building their online presence. This offers an opportunity for you to start this business idea in Nigeria.

Since your social media marketing agency will be small at the start. You’ll want to start small and focus on a specific niche or set of niches.

You’ll need to focus on a particular industry or sector. e.g hospitality industry or real estate companies. Just ensure that whatever industry you pick has money. 

You’ll also need to build out the products you’ll offer to clients. The products can be content creation, Marketing Audience Acquisition (growing follower counts, email lists, etc) or Lead Generation (using social media to acquire new leads and clients).

For this business idea to work, you’ll need the right tools. You’ll need to know how to create engaging content. You’ll need a scheduling tool for scheduling posts on social media. A tool for creating stunning images will also be needed.

The hardest part of this business is getting clients. Since clients won’t just magically come to you, you’ll have to go after them.

Another important thing is determining your pricing. Are you going to bill clients per post, per hour or weekly? I suggest you start off with packages.

Something like N15,000 per month for handling a business social media account. Your packages have to be very detailed so you won’t have clients asking you to do things you might not be interested in doing.

Having an already established social media presence can help you take some pressure off yourself as you start this business.

21. Home Cleaning business

A home cleaning business is an inexpensive way to start a business that makes you money.

Homes will always need to be cleaned, so people, especially 9-5 workers tend to find ways to transfer this work to another person.

To kick off this business you’ll need to do the cleaning yourself at the beginning. Th yourself. Ois will give you all the knowledge and tools you need to train your future employees. Of course, you can always have an assistant with you.

You’ll need to do research and educate yourself on how to clean properly. What type of chemicals do you use? Next, you’ll need to build out your service list.

This will contain all the cleaning services you offer. You can look at what other cleaning businesses offer to create your own service list. You’ll also need to get cleaning equipment and supplies for your business.

Supplies and equipment can fall into two categories:

• Supplies that get used up will need to be purchased regularly. Like rags, latex gloves, face masks, all-purpose cleaners and even mops. 
• Other equipment that you’ll use, Like vacuum cleaners.

This is one of the most untapped business ideas in Nigeria right now.

22. Restaurant Business

This business idea might look very common but launching a successful restaurant business can be a very profitable venture.

People will always eat, and if you’re known for offering mouth-watering, tasty meals at a fair price. You will have a winner on your hands.

To start a successful restaurant business you’ll need to choose a restaurant concept and brand. This will communicate what your restaurant is all about.

You’ll also need a business plan that can help you develop your strategy and understand the details of your restaurant . 

The other things you’ll need for your restaurant business idea in Nigeria to kick off are to, create a menu for your restaurant, get capital (you can check out business loans in Nigeria ), a good location, food equipment, restaurant furniture and decor, and hiring the right staff.

23. Gift Box Business

As you’ve noticed. I talk about Niches a lot. A niche helps you differentiate your business from the competition.

You can start a bridal gift box business or even one targeted at weddings or couples. You need to find out the customer potential. How many people are searching for the type of gift boxes you want to offer?

You also have to determine if the idea is profitable .

Having a business plan is essential for understanding the details of this business.

Starting a gift box involves registering your business name, choosing a sales channel (how you’ll sell to people), the design of your boxes, a flair for creativity, and a startup capital of at least N100,000.

24. Poultry Business

To start a poultry business in Nigeria you’ll need to choose the breed of birds (chicken) you want to rear.

The common breeds are layers, broilers and cockerel.  You’ll need a very suitable poultry location. You’ll need reliable poultry housing that has to be kept clean and hygienic at all times.

It’s important that housing for the chicken is spacious, so they can move freely. The housing also needs to be raised so flooding doesn’t come and ruin your business one day. You’ll need feed (food) for the chicken.

The feed must always be kept clean and dry. You dont want contaminated feed killing your birds. You also need to frequently give proper medication and vaccines to your birds.

You’ll also need a plan for marketing your chicken and eggs. You can consider avenues like selling to shops that sell provisions, supermarkets, home delivery, and even hotels and restaurants.

You can start a small poultry business with N50,000 Naira. You can get up to 90% interest from this business.

25. Content Creation Company

You can start a business that creates content for prospective clients or for a broader audience.

For one that creates content for clients, you’ll need to create a website (online presence), find a way to get clients, and maybe print business cards.

If your content creation is geared towards a broader audience online, you’ll have to use platforms like YouTube, and social media sites to reach your audience.

It’s important you pick a niche. You cannot be a company that creates all types of content for everybody.

You can create content for working professionals. Content like how to have a work-home balance, how to get a promotion at work and how to switch careers.

Your content doesn’t have to be in one format. You can have written content that you can turn into infographics and videos. You just have to be very creative.

26. POS Agent Business

POS business is one of the most popular business ideas in Nigeria. Any small trader or merchant can use their existing business structure to help people living around them send and receive money, as well as pay for bills.

In essence, a POS business or mobile money agent makes cash available to people in exchange for a commission or fee through a POS machine.

If you live in an area where it is difficult to get to a bank or ATM and where a lot of POS agents do not exist, you can really make a daily income if you position yourself right.

Since every bank has a POS agent service alongside other financial institutions. You can join up to 3 of these POS Agencies so you can avoid downtime.

Some of the popular and best POS business agents in Nigeria to join are GTB POS , OPay POS , Moniepoint & BAXI . Here’s how to start a POS Business in Nigeria .

What Business Can 100K Start in Nigeria?

The types of businesses you can start with 100K in Nigeria are POS business, an online store, phone accessories business, blogging, fitness trainer, laundry business, baking and pastries business, Okrika clothes business, trading business etc.

What is the most Profitable Business in Nigeria?

The most profitable businesses in Nigeria are oil and gas companies, entertainment businesses, sports betting franchises, e-commerce businesses and agriculture and farming businesses.

Choosing a Hot Business Idea in Nigeria

There are a few things to consider when picking business ideas in Nigeria. A business plan will help you know the nitty-gritty details of your business idea. It will also help you when you need to access outside funding from investors or even government entities.

Some of these businesses you can run from your home, and others you might need to get a shop or an office space. It depends on how you want to run the business.

You don’t have to do everything yourself in your new venture. You can have a co-founder(business partner) who can help with some of the aspects of the business.

For some of us, starting our own business in Nigeria is a dream that is kept on hold mostly due to the lack of funds or the struggle for a good business idea.

Coming up with good business ideas in Nigeria can be tough. Even if you have lots of business ideas, choosing the right one might be difficult.

There are a few things to consider when picking business ideas in Nigeria:

How much do you know about the industry your business idea will operate in?

You need to be clear about your business idea before you decide to pour money into it. It is important to gain clarity about business ideas in Nigeria before you jump into them.

After going through the above list of business ideas in Nigeria you can start and pick the one you think will be profitable and you’ll enjoy doing. But make sure you’ll need to do research and create a business plan.

Similar Business Content:

• Best Fast Moving Small Scale Business in Nigeria
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• Lucrative Businesses in Nigeria You Can Start
• Best Lucrative Untapped Business in Nigeria

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12 Unique Business Ideas for Students in Nigeria

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As a student in Nigeria, you may often find yourself grappling with financial constraints. However, with a little creativity and dedication, you can turn this challenge into an opportunity by starting your own business. Entrepreneurship not only provides you with a source of income but also equips you with valuable skills that can benefit you in the long run.

In this article, I will explore 12 unique business ideas that you, as a Nigerian student, can consider. These ideas are tailored to leverage your skills and the Nigerian market, giving you a competitive edge. Whether you’re tech-savvy, creative, or have a knack for organization, there’s something for everyone.

Being Your Own Boss: A Guide to Student Business Setup

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Key Takeaways

• Identify your skills and passions to determine the right business idea for you.
• Leverage the growing demand for technology-based services in Nigeria.
• Tap into the booming Nigerian market for creative and handmade products.
• Offer services that cater to the busy lifestyles of Nigerians.
• Explore opportunities in the agriculture sector, a vital part of the Nigerian economy.

1. Mobile App Development

If you’re tech-savvy and have a knack for coding, you can consider developing mobile applications that cater to the needs of Nigerians. The demand for apps that address various aspects of life, such as education, healthcare, transportation, and entertainment, is growing rapidly. With the increasing use of smartphones in Nigeria, there’s a huge market for innovative and user-friendly apps.

As a student, you can leverage your technical skills and creativity to develop apps that solve specific problems or provide unique services. Additionally, you can collaborate with other students or professionals to create a diverse team and bring your app ideas to life.

2. Social Media Management

Many Nigerian businesses are still struggling to effectively leverage social media for marketing and engagement purposes. As a student, you can offer your services to manage their social media accounts, create engaging content, and run targeted advertising campaigns.

Social media management requires strong communication skills, creativity, and an understanding of different platforms and their respective audiences. By staying up-to-date with the latest trends and best practices, you can help businesses establish a strong online presence and connect with their target audience.

3. Event Planning

Nigerians are known for their love of celebrations, from weddings and birthday parties to corporate events. If you have excellent organizational skills and an eye for detail, event planning could be the perfect business for you.

As an event planner, you can take care of all aspects of an event, from venue selection and decoration to catering and entertainment. You can offer your services to individuals, families, or companies, tailoring your offerings to meet their specific needs and budgets.

4. Online Tutoring

With the increasing popularity of online learning, you can leverage your academic knowledge by offering tutoring services to students of all ages. Online tutoring allows you to reach a wider audience and work flexible hours, making it an ideal business opportunity for students.

You can specialize in subjects that you excel in, such as mathematics, science, languages, or any other academic discipline. By creating engaging and interactive online sessions, you can help students understand complex concepts and improve their academic performance.

5. Content Writing and Editing

If you have a way with words and a passion for writing, you can offer your services as a content writer or editor. There’s a high demand for quality content in Nigeria, as businesses and individuals seek to establish an online presence and engage with their target audiences.

As a content writer, you can create compelling articles, blog posts, website copy, or marketing materials for clients across various industries. Alternatively, you can offer editing services to ensure that written content is error-free, well-structured, and adheres to stylistic guidelines.

6. Graphic Design

In today’s visually-driven world, graphic design skills are highly valuable. If you’re creative and have an eye for design, you can offer graphic design services to businesses and individuals in Nigeria.

Your services can include creating logos, brochures, social media graphics, website designs, or any other visual materials that help clients establish a strong brand identity and effectively communicate their messages. With the right tools and creativity, you can transform ideas into visually stunning designs.

7. Data Analysis

Businesses are increasingly relying on data to make informed decisions and gain a competitive edge. If you’re skilled at working with numbers and analyzing data, you can offer your services to help Nigerian businesses understand their customers, optimize operations, and identify growth opportunities.

As a data analyst, you can collect, organize, and analyze data from various sources, such as surveys, sales records, or online interactions. By presenting your findings in a clear and actionable manner, you can assist businesses in making data-driven decisions that drive success.

8. Agric Business

Nigeria has a thriving agricultural sector, and there are numerous opportunities for students to venture into agribusiness. You can start a small-scale agribusiness, such as poultry farming, vegetable gardening, or fish farming.

Agribusiness not only provides a source of income but also contributes to food security and sustainability in Nigeria. By leveraging modern techniques and technology, you can optimize your operations and produce high-quality products for the local or export market.

9. Handmade Crafts and Accessories

Nigerians have a deep appreciation for beautiful and unique handmade products. If you’re crafty and have a knack for creating handmade items, you can tap into this market by selling your handmade jewelry, clothes, bags, or home decor items.

You can showcase and sell your products online through social media platforms or e-commerce websites, or participate in local markets and fairs. By infusing your creations with cultural influences and personal touches, you can stand out and attract customers who value authenticity and craftsmanship.

10. Blogging and Vlogging

If you’re passionate about a particular topic or have a unique perspective to share, you can consider starting a blog or vlog (video blog). By consistently creating high-quality content and building an engaged audience, you can establish yourself as an authority in your niche.

Once you’ve gained a significant following, you can monetize your blog or vlog through various avenues, such as advertising, affiliate marketing, or selling your own products or services. Additionally, blogging and vlogging can help you develop valuable skills in content creation, marketing, and audience engagement.

11. Errand Services

In today’s fast-paced world, many busy Nigerians struggle to find time for mundane tasks and errands. As a student, you can offer your services to help them with tasks like grocery shopping, picking up dry cleaning, waiting in line for appointments, or any other errand that requires a trustworthy and reliable assistant.

By providing efficient and personalized errand services, you can alleviate the stress and hassle from the lives of your clients, allowing them to focus on their priorities. This business idea requires strong organizational skills, attention to detail, and a commitment to excellent customer service.

12. Phone Repair Services

Smartphones have become an integral part of our daily lives, and many Nigerians rely heavily on these devices. If you’re skilled at fixing electronics, you can offer phone repair services to cater to this market.

As a phone repair technician, you can troubleshoot and fix various issues, such as cracked screens, battery replacements, software glitches, or water damage. By providing reliable and affordable repair services, you can build a loyal customer base and establish yourself as a trusted service provider in your community.

As a student in Nigeria, you have a unique opportunity to turn your skills and passions into a successful business venture. The 12 business ideas outlined in this article are just the tip of the iceberg – the possibilities are endless.

Remember, the key to success lies in finding a business idea that resonates with you and fulfills a market need. By combining hard work, dedication, and a willingness to learn, you can transform your business idea into a thriving enterprise.

Embrace the entrepreneurial spirit, and don’t be afraid to take calculated risks. The journey may be challenging, but the rewards of financial independence and personal growth will make it all worthwhile.

• How do I choose the right business idea?  To choose the right business idea, consider your skills, interests, and the market demand in Nigeria. Conduct thorough research, analyze the competition, and identify gaps or opportunities that you can capitalize on. It’s also essential to assess the potential profitability and scalability of the business idea.
• How much capital do I need to start a business?  The capital required to start a business can vary greatly depending on the nature of the business. Some ideas, like online tutoring or content writing, may require minimal initial investment, while others, like mobile app development or agribusiness, may require more substantial funding. It’s crucial to create a detailed business plan and budget to determine the financial requirements and potential funding sources.
• How can I market my business effectively as a student?  As a student with limited resources, you can leverage cost-effective marketing strategies to promote your business. Utilize social media platforms like Twitter, Instagram, and Facebook to build an online presence and engage with your target audience. Collaborate with other students, join relevant communities, and participate in local events or markets to increase visibility. Additionally, consider offering promotions or discounts to attract initial customers and build a solid reputation.
• Can I run a business while pursuing my studies?  Yes, it is possible to balance running a business and pursuing your studies, but it requires careful time management and prioritization. Develop a schedule that allocates dedicated time for your studies, business operations, and personal activities. Consider outsourcing or delegating tasks when possible, and don’t hesitate to seek support from mentors, fellow students, or professionals in your field.
• How do I ensure the quality of my products or services?  Maintaining high standards of quality is crucial for the success of any business. Continuously seek feedback from customers and be open to constructive criticism. Invest in training, resources, and tools to enhance your skills and knowledge. Stay updated with industry trends and best practices, and continuously strive for improvement.
• What legal considerations should I keep in mind when starting a business?  As an entrepreneur in Nigeria, it’s essential to understand and comply with relevant legal requirements. Depending on the nature of your business, you may need to register your business, obtain necessary licenses or permits, and adhere to regulations related to taxation, employment, and consumer protection. Consulting with legal professionals can help you navigate the legal landscape and avoid potential pitfalls.
• How can I stay motivated and overcome challenges as a student entrepreneur?  Entrepreneurship can be a rollercoaster ride, with ups and downs along the way. To stay motivated, surround yourself with a supportive network of peers, mentors, and like-minded individuals. Celebrate small victories and learn from setbacks. Continuously educate yourself by reading books, attending workshops, or seeking advice from experienced entrepreneurs. Remember to take breaks and maintain a healthy work-life balance to avoid burnout.
• Are there any funding opportunities or support programs for student entrepreneurs in Nigeria?  Yes, there are various funding opportunities and support programs available for student entrepreneurs in Nigeria. Organizations like the Tony Elumelu Foundation, ǸDEAVǪR, and government initiatives like the Youth Entrepreneurship Support Program (YES-P) offer grants, mentorship, and resources to support young entrepreneurs. Additionally, many universities and colleges in Nigeria have entrepreneurship centers or incubation programs designed to nurture and support student-led businesses.
• How can I protect my business idea and intellectual property?  Protecting your business idea and intellectual property is crucial to safeguard your competitive advantage. Depending on the nature of your business, you may need to consider trademarks, copyrights, patents, or trade secrets. Consult with intellectual property experts to understand the appropriate measures for your situation and ensure that your ideas and creations are legally protected.

Remember, starting a business as a student can be challenging but immensely rewarding. Embrace the entrepreneurial journey with passion, resilience, and a willingness to learn and adapt. With the right mindset and approach, you can turn your unique business idea into a successful venture.

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Best 50 Small Business Ideas in Nigeria for 2024

Nigeria offers plenty of business opportunities across various sectors. If you are an aspiring entrepreneur looking to invest in Nigeria, here is a list of the best low-cost business ideas that can fetch high-profit returns.

Nigeria is at present the biggest economy in Africa. Nigeria is situated in the West African region and its coast in the south lies on the Gulf of Guinea in the Atlantic Ocean. It comprises 36 states and the Federal Capital Territory, where the capital, Abuja is located. The 800km of coastline confers on the country the potential for maritime power. The Land is in abundance in Nigeria for agricultural, industrial, and commercial activities.  Nigeria is often referred to as the “Giant of Africa”, owing to its large population and economy.

50 Business Ideas in Nigeria

1. farming support services.

Farmers in Nigeria are showing a lot of interest in a more mechanized form of farming. Commercial farming is encouraged by the present-day government and many farmers are looking forward to remodeling their farming operations more technology-driven. You can lease farming equipment to local farmers. You can also support farmers by providing good quality fertilizer, seeds, herbicides, insecticides, medicines & vaccines, micronutrients, etc

2. Soy Beans Processing Business 

Commercially soya beans processing to produce milk, soy flour, soy sauce, soyabean oil, natto, etc is a very profitable agriculture business idea to start with moderate capital investment. With a proper marketing strategy, an entrepreneur can start soybean farming and make good money.

Soybean processing involves a series of steps to produce commodities for food, industrial, and animal feed uses. You can start a small bean processing plant as demand is huge in Nigeria.

3. Cultivation and Processing of Maize

Maize is one of the most important crops cultivated in Nigeria. There is a huge potential in the cultivation and processing of maize into flour, and oil in Nigeria. Efficient planning and marketing will surely make this venture in Nigeria hugely profitable.

4. Start a Blog

Nigeria produces plenty of successful bloggers who are making millions out of blogging. Remember, choosing the right niche is the key to being a profitable blogger. Check this tutorial to start a blog and make money even if you know nothing about starting a blog.

Suggested Read:   Best Online Business Ideas

5. Vermicompost Organic Fertilizer Production

Vermicompost organic fertilizer production has now become a major component of agro-business models across Nigeria with a very low initial investment. An entrepreneur can start this business with proper know-how of the production process.

6. Open an Organic Farm GreenHouse 

An organic farm greenhouse business has a high potential to grow in Nigeria and succeed because steadily the demand for organically grown farm products has grown considerably.  However since the demand for organically grown food products is now increasing, people are investing in land for organic farming.

7. Livestock Feed Production

Livestock items are in good demand in Nigeria. Having confidence in distribution, one can start this business to make money out of livestock feed production. The distribution of livestock feeds is one of the most unique and profitable supply business ideas in Nigeria.

8. Catfish Farming

Catfish Farming is a potentially highly profitable business to start in Nigeria at present. Though there is a good demand, the supply of catfish is not much domestically.

9. Jam-Jelly Production

Jam and Jelly has a huge market opportunity in Nigeria. Anybody can start this business as the production process is simple and easy and can be started with a small investment.

10. Groundnut Processing

Having confidence in the sourcing of raw material groundnut, an entrepreneur can start this business with moderate capital investment. Processed groundnut has very good market potential globally.

11. Cashew-nut Processing

Processed Cashew nut is a consumer durable product and has huge market potential in the FMCG industry. An entrepreneur can initiate this venture on a small-scale basis.

12. Quail Egg Farming

Commercial quail farming is all about raising quails commercially for profitable eggs and meat production. In Nigeria, quail farming plays an important role in fulfilling the daily family nutrition demands and earning a living. The quail egg farming business in Nigeria is worth considering for its untapped potential.

13. Shrimp Farming

Shrimp farming is an aquaculture business that exists in the freshwater environment, producing shrimp or prawns for human consumption. The demand for this product is increasing globally.

14. Fish Hatchery

A fish hatchery is a place for artificial breeding, hatching, and rearing through the early life stage of finfish and shellfish in particular. Hatcheries produce larval and juvenile fish primarily to support the aquaculture industry where they are transferred to on-growing systems.

15. Poultry Farming

Love for poultry meat and eggs has grown at a staggering pace in Nigeria with a growing population and improved economy. The young population in Nigeria is the highest consumer of poultry products. Poultry farming is one of the biggest business opportunities at present in Nigeria to be explored.

16. Alternative Energy Solution Provider

Nigeria has seen a huge increase in the demand for power supply. Solar energy, Wind energy, and bioenergy are some of the alternative power supply sectors that have created a platform for creative investors to explore.

17. Cement Sales Distribution

With the growing population, the demand for housing is also increasing in Nigeria. If you have good networking skills and contact with builders, cement sales and distribution is surely a profitable venture in Nigeria.

18. Mobile Phone Sales and Repair

With the growth of the aspirational young population in Nigeria, the growth in sales of mobile phones in Nigeria is staggering. Mobile phone sales and repair is, therefore, a profitable business opportunity in Nigeria at present. It is one of the most profitable retail shop business ideas in Nigeria.

19. Bottled Water Production

Packaged drinking water is being used in every office, school, and party while travelling, and in homes in almost all cities in Nigeria. The growing demand for pure water or sachet water provides a viable option for investors to invest in this business opportunity.

20. Soapmaking Business 

Soap is a fast-moving consumer product and has a good demand in Nigeria. Production of soap making is simple. Even you can start at home.

21.  Rabbit Farming Business 

Rabbit farming is a profitable business to start in Nigeria with small money. You will need the right breed of rabbits, pellets, well-constructed rabbit hutches, and labor to start this business.

22. Open a Small Bakery 

You can set up a small bakery . You need baking equipment (pans, ovens, mixing equipment, cake decorating equipment, and measuring equipment), raw materials (flour, eggs, sugar), consistent recipes, business permits, and licenses, and good marketing skills to start this business. As you make more profits, there is always an option of scaling up.

23. Start a Restaurant 

The scope of profit in the food business is high as the economy of Nigeria is growing especially in cities like Nairobi.  You can start a restaurant business. Passion for food is a prerequisite to being successful in this business.

24. Laundry Business

Another profitable business in Nigeria is Laundry Business especially if you are staying in urban areas. Most busy working people prefer laundry services as they hardly find time to clean their clothes. It is also very easy to start. You just need a washing machine and pressing irons to start this business.

25.  Security Services

Security is a big concern in Nigeria. The government alone can not take full security of citizens. Hence, more and more people are hiring security agencies for protection. You can set up a security company, employ and train young individuals and provide security services to institutions and individuals.

26. Computer-Related Business

With the increase in sales of computers and laptops, the scope of various services will automatically grow in Nigeria. There are several ways of initiating computer-based businesses from home or on a small scale.

27. Advertising Campaign Developer

You can plan and build creative online campaigns and content for your clients— from successful social media campaigns, apps, mobile contests, video, email distribution, search engine optimization, online media ad buys — or a mix of all of the above.

28. Baby Sitting 

People who like children and have a lot of leisure time in hand can easily start a babysitting business . Babysitting is simply taking care of other children in the absence of their parents. This home-based business is simply offering your clients peace of mind about their child in terms of qualifications and security. It is a good money-making business for ladies in Nigeria.

29. Mobile Food Truck Business 

A person having minimum experience in the food service industry can initiate this venture in the city area of Nigeria. From food trucks, you can sell frozen and packaged items like ice cream, soft drinks, sweets, and snacks or you can go for cooked items with a specific menu including breakfast, Tiffin, and lunch.

30.  Cartridge Refilling

Cartridge refilling business is providing ink and toner cartridge refilling services to your client instead of replacing the printer. For starting this business you will need to have skills and expertise in cartridge refilling. You can start this lucrative daily income business in Nigeria with low capital investment.

31. Small Manufacturing Business

There is a big domestic market for the consumption of domestically manufactured goods in Nigeria. If you have the required start-up investment, consider launching a small-scale manufacturing unit here in the country.

32. Fruit Juice Bar

People in Nigeria are increasingly becoming health conscious. You can sell fresh fruit juice by hiring a mobile cart in the high footfall areas in most cities in Nigeria.

33. Tutoring

There is a good demand for quality tutors in Nigeria. You can help students prepare themselves for exams and help them in completing project assignments. You can also opt for online tutoring if you have a computer with an internet connection. Tutoring is a good way of making a handsome income, especially for high school and Nigerian college students.

34. Fitness Trainer

If you are staying in a city or a town in Nigeria, you will find more people are flocking to fitness centers. There is at present a good demand for fitness trainers in Nigeria.

35. Import Business

There is a good market for imported goods in Nigeria. You can import electronic gadgets, clothing items, or any other item that customers are showing interest in buying.

36. Taxi Service

If you own a car and drive too, a taxi service is one business you can seriously think of starting in Nigeria. With car apps like Uber and Taxify getting more popular, you can also consider partnering with them.

37. Party Planning

There is no dearth of events, parties, and celebrations here in Nigeria. If you enjoy planning and managing events, a party planning business is a good option for you to make money.

38. Real Estate Agency

The real estate market is growing in Nigeria is growing like never before. If you have good networking skills, you make a good amount of money just by helping people get the right accommodation.

39. Recharge Card Business

This is yet another business to dive into if you have good networking skills in Nigeria. However, if you want to make more money, think of starting as a wholesaler and recruiting resellers who will buy from you and sell to end customers.

40. Sports Betting Agency

Presently, the sports betting business in Nigeria is a highly lucrative venture. There are many bookmakers here looking for partners to expand their business. You need to have a tie-up with a reputed bookmaker and a small office space with computers and betting software. One can become a sports betting agent with an investment as low as N25,000.

41. Fish Farming Business 

The commercial fish farming business is a lucrative investment that can spin money at any time of the year. With the implementation of modern techniques, an entrepreneur can start this business with moderate capital investment.

42. Metal Scrap Collection

Though metal scrap trading may not be an attractive option for many, the fact is a lot of Nigerians have made millions in this business. Industries need recycled metal, and individuals benefit from disposing of metal waste responsibly. Collecting and selling scrap metal is a sustainable business, contributing to recycling efforts.

43. Palm Oil Storage Business

Palm oil is a staple in Nigerian cuisine, and efficient storage solutions are crucial for the industry. Given Nigeria’s significant palm oil production, establishing a storage business for palm oil can be lucrative.

44. Property Investment

Nigeria’s growing population fuels the demand for housing and business spaces. Hence, investing in real estate, including residential and commercial properties, offers long-term returns.

45. Snail Farming

Snail farming is a profitable venture due to the increasing demand for snails in local and international markets. Furthermore, snail farming requires minimal space, and snails are a delicacy with a high market value.

46. Ice Block Production

Ice blocks are essential for cooling beverages and perishable goods. Hence ice blocks have a steady market. With the hot climate in Nigeria, the demand for ice blocks is constant, making ice block production a viable business.

47. Tiger Nut Drink Production

The demand for natural and nutritious drinks is on the rise. You can produce tiger nut drink, a popular beverage in Nigeria locally known as “ kunun aya ” and make good money.

48. Hibiscus Drink Production

Hibiscus drinks, known as Zobo in Nigeria, are widely consumed. These drinks are refreshing and culturally significant. Hence it is a favorite among consumers.

49. Catering Service

Nigeria’s vibrant social scene and the rise of corporate events create ample opportunities for catering services. You can provide catering services for events, parties, and corporate functions and fetch good profit returns

50. Selling Mobile Phones

Nigeria has one of the fastest-growing mobile markets globally, driven by increased smartphone adoption. You can open a retail shop and sell a variety of mobile devices, including smartphones and feature phones. In addition, you can also sell accessories such as chargers, cases, and screen protectors.

Why is Nigeria a Good Place to Start a Business?

Starting a business in Nigeria can be a rewarding venture. It is supported by various factors that contribute to its business-friendly environment. Find below some of the reasons why Nigeria is a promising destination for entrepreneurs.

a) Population Growth

As of 2022 as per World Bank, Nigeria’s population stands at over 218 million people, making it the most populous country in Africa and the seventh globally.

b) Economic Size and Growth

Nigeria has the largest economy in Africa, with a GDP of $4779.3 billion (2022) – Source: World Bank

c) Youthful Population

Approximately 60% of Nigeria’s population is under 25 years old, representing a vibrant and dynamic workforce.

d) Ease of Doing Business

Nigeria has made significant strides in improving its business environment. As of 2020, the country is ranked 131 out of 190 countries in the World Bank’s Ease of Doing Business Index.

e) Entrepreneurial Spirit

Nigeria consistently ranks high in global entrepreneurship indices, showcasing a culture of innovation and enterprise.

f) Investment Opportunities

Foreign direct investment (FDI) inflows into Nigeria have seen positive growth, reaching $2.4 billion in 2020.

g) Technology Adoption

Nigeria has a rapidly growing tech ecosystem, with increasing smartphone penetration and internet connectivity. Source: Nigerian Communications Commission

h) Natural Resources

Nigeria is rich in natural resources, including oil, gas, solid minerals, and agricultural products.

j) Infrastructure Development

Ongoing infrastructure projects aim to enhance transportation, energy, and telecommunication systems. Source: Federal Ministry of Works and Housing, Nigeria

k) Government Initiatives

Various government initiatives and reforms support business development and attract investment. Source: Nigeria Investment Promotion Commission

Best Places to Start a Business in Nigeria

Choosing the right location is crucial for the success of any business.  Considering factors such as market potential, infrastructure, and business-friendly environments, here are some of the best places to start a business in Nigeria:

• Lagos: Lagos is the commercial hub of Nigeria, offering a large consumer market, a vibrant economy, and a well-established infrastructure. It is particularly suitable for businesses in finance, technology, and entertainment.
• Abuja: As the capital city, Abuja provides a stable business environment with a focus on government-related services. It’s a hub for consulting, legal, and real estate businesses.
• Port Harcourt: Known as the oil hub, Port Harcourt is suitable for businesses in the oil and gas sector. It also has a growing market for real estate and hospitality.
• Kano: Kano, with its rich history, is a significant commercial and industrial center in the northern part of Nigeria. It Is favorable for businesses in agriculture, manufacturing, and trade.
• Ibadan: Ibadan is one of the largest cities in Nigeria and is emerging as a hub for technology startups, education, and healthcare services.

Frequently Asked Questions

How to start a business in nigeria.

• Select a business idea
• Research the market
• Create a business plan
• Arrange funds, if required
• Register your business – Get in touch with the Cooperate Affairs Commission (CAC) at the federal level to register your company. For state-level business, registration contact the Chamber of Commerce.

What do I need to start a business in Nigeria?

The first thing you need is the attitude of becoming a successful entrepreneur. The others are technical aspects like market research, business plan, business name, forming a company, and arranging capital if needed.

What are the best business ideas for ladies in Nigeria?

Here are the best five business ideas that align with the interests and skills of ladies in Nigeria:

• Fashion Boutique
• Beauty and Wellness Spa
• Event Planning Service
• Catering Business
• Online Retail (E-commerce)

What are the best business ideas for students in Nigeria?

Here are the most profitable business ideas tailored for students in Nigeria:

• Freelance Services like writing, graphic design, social media management, or web development.
• Online Tutoring
• Graphic Design and Printing
• Event Photography
• E-commerce (Sell Handmade Items)

What are the best business ideas with 1 million Naira in Nigeria?

Launching a business with a budget of 1 million Naira requires strategic thinking and careful investment. Here are promising business ideas tailored to this budget in Nigeria:

• Mini Importation Business:
• Poultry Farming
• Food Catering Business
• Online Retail (Niche Products)
• Beauty Salon

Can I start a business in Nigeria with no money?

Several home-based online business opportunities can be started with no or almost no money. Starting a blog, affiliate marketing, and YouTube Vlogging are some examples.

About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their businesses.

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20 Unique Business Ideas for Students In Nigeria With Low Budget

• February 9, 2024

Can I be my own boss while learning? Yes, you can.

Starting a business in school is a smart move and the easiest way to become your own boss. It gives you experience, cash, and skills you’ll use forever. In Nigeria, where entrepreneurship thrives, students can be business owners too, even with little money. 

This post explores 20 unique business ideas for students in Nigeria on a budget.

1. Tutoring: A unique business idea for students!

Being a student means you know stuff others need help with. Math, English, science, coding, design, languages — someone wants to learn it. Now’s the time to share your knowledge and earn money.

To get started, find your strengths and create a plan. Put up flyers on campus, use social media, or join online platforms to reach potential customers — students. Set your prices based on your skills, subject, and length of each session.

2. Laundry and Dry Cleaning Services

Students are busy. There’s class to attend, parties to show up to, and other one thousand and one things. Who has time to do laundry? Be their hero. 

Offer laundry and dry cleaning services to save the day. Start small; wash and iron clothes at first. Then add more services if the demand goes up.

Team up with laundry places to get discounts for big student orders. You can package weekly, monthly, or per item depending on their need.

Spread the word and partner with student groups or dorms for deals. Tell everyone who cares to listen about your new business.

See Also: The Ultimate Guide To Finding Part-Time Jobs As An Undergraduate

3. Freelance Writing and Editing

Do you love writing? You can earn cash and get better at it as a freelance writer .

Freelance writers write for websites, blogs, magazines, and even filmmakers. Businesses and people need help writing; you can be their go-to person.

Search popular platforms for freelance work. Upwork, Fiverr, and Freelancer.com offer lots of jobs. However, keep in mind they have lots of competition too. Other writing platforms you can leverage include WritersGig, Freelancenaigeria, and Bulksms.com.ng.

Additionally, you can ask local businesses, blogs, or even school newspapers if they need help writing. Show off your writing skills. Make a portfolio for blog posts, samples, or schoolwork you’ve written. 

For pricing, keep it low for a start and raise them as you get better and have more to show.

Finally, do great work on time and be polite. Talk to other freelance writers and make friends — so they can help you find more work.

4. Event Planning and Decoration

Campuses in Nigeria are full of fun events — parties, workshops, celebrations, and more. Students love them, and that’s where you come in as the event planning and decoration whiz!

Birthdays, graduations, club events, themed parties – you can plan them all. Team up with other student groups or local businesses to reach even more people.

Start by offering to plan and decorate events on campus. Think about organizing things, managing budgets, finding venues, arranging entertainment, and making sure everything goes smoothly on the big day.

Show off your creativity to attract customers. Advertise on social media, student forums, and notice boards. Share pictures of past events you’ve done.

Meanwhile, be reliable and organized — plan schedules, manage money well, and talk clearly with clients.

You can offer different packages for different budgets and event sizes. Basic decorations, full planning, or “choose your own adventure” options.

Add special touches like custom invitations, photo booths, and themed music to make events unforgettable.

5. Graphic Design Services

Do you have an eye for design and love making things look awesome? Students need eye-catching designs. Think posters, flyers, and social media graphics — for their groups, events, and projects. And these can make you tons of money!

No need for fancy software. Simple tools like Canva, Pixlr, and Inkscape let you create cool designs without spending a fortune.

To improve your design skills, learn more online for free. You can watch tutorials, take courses, and join design communities to master your skills and learn new tricks.

We also recommend you offer extras like simple animations, video editing, or website design to attract more clients and earn more money.

6. Social Media Management

Businesses struggle to keep up with social media. But you, the social media rockstar, can help by offering your skills to manage their accounts and make them shine online.

For starters, begin by making a profile showing your social media expertise and what you offer.

Then, find businesses near campus or student groups needing help. Offer consultations, create content plans, post for them, and track results. Show them how you can boost their engagement and followers.

7. Personal Shopping and Styling

Do you want to help people dress their best? Be their personal stylist. Lots of people struggle with time or know-how to pick clothes that fit their style and life. 

You can help them sharpen your fashion sense. Here’s how: Show off your skills on social media. Try to post cool outfits on your pages. Give style advice from time to time. Team up with local stores for discounts and referrals. Then charge a fee or earn a commission when people buy items you recommend. 

You can even organize wardrobes, shop for special events, and style people for photoshoots.

8. Mobile Car Wash Services

People are busy, and their cars get dirty, but traditional car washes take too long. You can be the solution: a mobile car wash. Wash cars wherever people want – at home, work, wherever. Start small with just a few cleaning tools.

The basic cleaning tools include water tanks, pressure washers, and cleaning stuff. Charge fair prices (check what other car washes do). Advertise on social media and community boards, and tell everyone about your business. 

9. Unique Business Ideas for Students: Homemade Snack Business

Homemade snacks are yet another unique business idea for students on a low budget. If you love baking cookies, cakes, or Nigerian classics, you can make a lot of money on campus. All you need is to start small in your kitchen and then grow big.

You must find and try popular recipes, new flavors, and new delicacies to perfect your skills. Next is to get cool packaging and labels for your yummy treats. Then, sell at markets, schools, and events. 

Use social media to show off your creations and get more customers.

See Also: The Benefits Of Gaining Work Experience As An Undergraduate

10. Fitness Coaching and Training

Fitness Coaching is a unique business idea where you help others reach their fitness goals.

Begin by offering students workout plans, nutrition advice, or group classes. Be flexible and affordable — you know student life.

Get certified (bonus points, but not required). Team up with gyms and student groups, or offer outdoor training. Coach one-on-one, create custom workout plans, and lead group classes. Use online platforms to reach even more people with virtual training.

11. Language Translation Services

Nigeria is full of different languages, and people always need things translated: documents, websites, and even talks. Do you speak many languages well? You can help.

Tell everyone what languages you know and charge fair prices. Show off your skills by first translating short things for free or cheap. Then connect with translation agencies , language apps, or online marketplaces to get more clients.

12. Virtual Assistant Services

Virtual assistants help busy people with emails, appointments, data, social media, and customer service. You can do this too.

Find people who need help online or in your community. Offer packages for different needs: email help, social media scheduling, data entry, etc. Do it well, talk clearly, and be reliable — that’s how you keep clients happy.

13. Unique Business Ideas for Students: Dropshipping

Imagine an online store where you don’t store anything. That’s dropshipping: you sell products, but suppliers handle storage, packing, and shipping. You focus on marketing and making customers happy.

Pick something you love (phone cases, student must-haves, etc.) and find products that sell well. Team up with suppliers and build your online store on platforms like Shopify or WooCommerce.

14. Copywriting Services for Small Businesses

Small businesses need catchy words to tell their story and sell their products: websites, ads, flyers, the whole works. You can be their copywriter.

Write headlines that grab attention, sales copy that convinces people, and calls to action that make them say “Yes!” Help businesses in Nigeria communicate their brand and find more customers.

15. Proofreading and Editing Academic Papers

More and more students in Nigeria are going to university, and they need help making their essays and assignments perfect. You can be their editor!

You’ll help them check grammar, fix mistakes, and make sure everything’s formatted right. Additionally, you can help students write better and get good grades by giving them clear feedback on their work.

16. Mobile App Development for Niche Markets

See a struggle in your community or student life? Fix it with an app. Build apps for things like campus events, local food delivery, or study groups. Make them cheap and easy to use — students love that.

Ask people what they think of your idea before you finish it. Make changes based on their feedback. Put your app in app stores and tell everyone about it: social media, campus events, and influencers. Make money with in-app purchases or subscriptions. Remember, people will use your app when you solve a real problem well!

17. Website Design and Development Services

Your design skills can help local businesses get online. You can make websites for them at student-friendly prices. You know what businesses need, so give them a website that’s easy to use. 

You can offer different types of websites: online stores, artist portfolios, blogs, and more. You can use special tools or learn some coding to build them. The bottom line is that people can find businesses and their products easily online.

18. Unique Business Ideas for Students: DJ Services for Small Parties

If you love music, you should be a party DJ. Consider playing awesome music for small parties, campus events, or student get-togethers. Play any kind of music people want, and make the party unforgettable without breaking the bank.

To get started, buy some DJ gear and build a huge music library for all kinds of parties. Practice mixing songs smoothly, read the crowd, and make sample mixes people will love.

19. Event Photography and Videography

Help people remember special moments forever with your photography skills. Take photos and videos at student events like graduations, club gatherings, or themed parties. You’ll capture real, fun moments people will cherish.

Starting isn’t hard. Get some camera gear and learn online by practicing. Partner with student groups, party planners, or event venues who need photos or videos. Offer different packages based on how long the event is, how much editing is needed, and what people get in the end. Finally, display your work on social media and event websites to find new clients.

20. Delivery Services for Food or Groceries

Students are super busy, so most can’t wait for food. You can be their delivery guy. Your job is to deliver food or groceries right to them. 

To make it a lot easier for you, you should team up with restaurants, shops, or street vendors to offer tons of options students love, all at student-friendly prices. Be fast, reliable, and deliver everywhere others can’t.

Also, partner with businesses willing to work with you. Get special bags to keep food fresh. And use a bike, or public transport to deliver fast.

In this blog post, we’ve explored various unique business ideas for students in Nigeria with low budgets and entrepreneurial ambitions. From mobile car wash services to freelance writing and technology-based ventures, there are countless opportunities for students to start and grow successful businesses while pursuing their education.

At Student Upkeep Initiative, we provide students with resources in areas like scholarships, grants , money-making, skill acquisition, and entrepreneurship. With these resources, you’re well-equipped for now and the future.

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45+ Small Business Ideas in Nigeria With Good Profit (2023)

The Developing Country Provide Many Small Business Ideas in Nigeria With Good Profit and Low Cost You can Make Your Business Profitable.

With 36 States Nigeria is One Of The Developing Countries, Where many Businesses are Not Saturated Yet and You can take The Opportunity Of It and Make Any Small Business Or Startup Ideas Profitable.

Nigeria Is a Rich Resource Country, Where Many Types of Raw Materials, Fossil fuels Like Petroleum, and a Skilled Work Force Available For All Types of Service and Manufacturing businesses.

Small Business Ideas in Nigeria With Good Profit (2023)

Here in this Post, We Have Added All The Service Based Business, Small Scale Manufacturing businesses, Infrastructure Business, Online Business, and Other Agriculture Farming businesses.

Quail Bird & Egg Farming

There is a Huge Demand for Quill birds in Nigeria.

With Low Investment You Can Start This Quill Bird & Egg Business in 2023.

It Needs the Proper Bird Farming Training and Small Investment to Start and You Can Sell It in the Market or Export It Throughout the Country.

• Investment- $300-400 Total Approx
• Revenue Potential- $700- $1K+ Apr.
• Location- Farming Place
• Skills Required:- Farming Skills

Profitable Agriculture

As a Traditional Business Majority of People Depend on Agriculture and Farming Business and is One of the Most Lucrative and Local Business Idea That You Can Start With the Help of Modern Technology.

Some of the Major Crops Are Beans, sesame, cashew nuts, cocoa beans, Cocoa, groundnuts, gum arabic, melon, millet, palm kernels, palm oil, plantains, rice, rubber, sorghum, soybeans

As a Young Entrepreneur, You Can Start This Agriculture Business With the Help of Modern Technology and Equipment With the Agricultural Loan and Work on Different Types of Agriculture and Livestock Farming.

With the Proper Planning and Hard Work You Can Make This Business Profitable by Dominating That Traditional Agriculture.

• Investment- $1K+ Total Approx
• Revenue Potential- $1.5K- 3K+ Apr.
• Location- Offlince
• Skills Required:-  Cultivation

Most Successful Small Business Ideas in Nigeria 2023

From Here You Can Assume the Potential of Earning in Blogging.

It Requires Only Less Than $100 to Start and Launch Your Blog in 2023. Of Course, at the Starting of Your Blogging Journey.

It Requires Learning and Hard Work but Eventually, All Your Hard Work Will Be Benefited at the End.

To Start Blogging You Need to Learn Article Writing, Basic SEO, and Content Optimization for the Better Growth of Your Blog and to Drive More People.

• Investment- $100 Total Approx
• Revenue Potential- $500- No Limit 
• Location- Online
• Skills Required:- Writing, SEO

Freelance Article Writing

If You Have Good Writing Skills Then You Can Start Every Launching Article Writing Job and Make Money From It, There Are Many People Who Looking for Quality Articles to Publish on Their Blog and the Higher Article Writers.

You Can Also Work for News Media Companies, Bloggers, and Small Businesses to Help Them to Write Business Articles and Earn Money From Them.

There Are Also Many Freelancing Platform Where You Can Get Clients Are-

• Peopleperhour

Recharge Card Business

Starting of a Small Recharge Card Business is Another Profitable Business That You Can Start by Collaboration With the Local Vendors.

In Nigeria, There is a Greta Demand for the Recharge Card Business, and Starting of Small Business Around It is a Profitable Idea.

You Can Collaborate With the Sim Retailer and Manufacture Recharge Cards for Call and Internet Services.

Small Scale Manufacturing

Nigeria is Full of Resources and There is a Widely Availability of Raw Materials and Minerals.

For The Transportation, It is Also Connected With Different Roadways for Global Import and Export, So Starting Any Type of Small Scale Industrial Business is a Good Idea.

If You Want to Start a Small Scale Industrial Business Then You Can Do a Market Research by Understanding the Users Requirement and Start Different Types of Processing Business as Per You Like From Crops to Furniture Manufacturing You Can Start With a Low Budget.

We Can Work as an Entrepreneur and Solve the Problems of People in the Daily Life by Launching Your Product.

Low Cost Small Business Ideas in Nigeria

Catering services(indoor and outdoor).

From Small Events to Weddings, There is a Good Demand for Catering Services and You Can Start With the Minimum Skills.

Starting and Cooking and Catering Services Business is One of the Best Service Based Businesses That You Can Start With Low Investment.

It is a Local Business Where You Get Multiple Clients in Your Locality.

Start Part time Mobile Food Vending

Starting of Food Vending is Another Low-Cost Street Food Business That You Can Start in the Marketplace.

Start Processing Different Types of Regional Street Foods and Serve Them to the People.

You Can Start It With a Food Truck, Cart, or Permanent Setup, Where You Distribute Different Types of Fast Foods.

Start a Fish Farming Business in Nigeria

To Start This Business Unit to Understand the Market, Budget, and Plan.

It Requires Human Resources and Testing and Checking of the Water and Fish for the Better Growth of the Fish and Prevents From Different Types of Diseases.

You Can Also Mix Farming and Aquatic Business at a Time and Make It More Profitable.

Catfish Farming

With a Low Investment, You can Start Catfish Farming in Nigeria and Sell It In The Market As Per The Great Demand.

It is a Profitable Business as it the Available at a Cheap Price and It is Very Easy to Find.

It Does Not Require Any High Maintenance Cost to Start This Business. So Start a Catfish Farming Small Business in Nigeria With a Small Pond and With the Proper Care You Can Sell It at a Good Price Bracket.

Groundnut Processing & Packing

Starting of Groundnut Processing & Packing is a Good Business Idea as Nigeria Export Huge Amounts of a Groundnut Every Year.

To Start a Groundnut Processing Business, Go Through the Process of Storage, Cleaning, Grinding, Hitting and Pressing, Refining, and Packaging

With The Huge Demand for This Business, You Can Start It in the Nearby Groundnut Farming So Start a Processing Business Related to It by Setting Up Around Not a Processing Mill.

Start a Small Restaurant

If You Have a Low Budget Then You Can Start a Small and Evergreen Foods and Restaurant Business.

Some of The Most Popular Foods are Iyan, Jollof Rice, Àmàlà, Puff-Puff, and Pepper Soup.

It is One of the Most Profitable Local Business That You Can Start on the Road Side, in School & College Areas, Office Places, and Markets Place to Attract More Customers.

Serve Different Types of Dishes Like Italian, Nigerian, Chinese, and Others.

It is a Customer and Service Based Business That Need Cleanness and Proper Hospitality to Attract More Customers.

Computer Training Center

Computer Training is One of the Best Service Based Businesses That You Can Start With Low Investment.

Computer Training is the Most Popular Training is It Comes With Multiple Job Opportunities, With Low Investment You can Start a Training or Coaching Center and Provide Both Basic and Computer Hardware Knowledge.

So Start a Small Consultancy Business or Training Business Without Any Investment and Help People to Learn Different Skills

Computer & Smartphone Repairing

It is one of the Best Future Proof Service Based Business That You Can Start With a Low Budget.

The Rapid Growth of Mobile and Computer Technology Increases the Small Businesses Related to It, So It is a Very Low Investment You Can Start a Computer Servicing and Smartphone Repairing Business in Your Local Area.

With 6 Months of Course You Can Learn Smartphone Repairing and Start Your Business Without a Huge Investment It is Another Future Proof Business That is Growing Rapidly and Open Multiple Opportunities to Start a Business.

Multi-Rental Services

There Are Many Types of People who Visit Nigeria and Looking for Travel to Explore, So You Can Start a Small Rental Service Business by Providing Cars and Bikes on Rent With All the Legal Documents.

This a Capital Invest Business and needs to Start in a Crowded Place for Customer Acquisition.

Medium-Scale Business Ideas in Nigeria

Food processing.

With Any Type of Agriculture Loan, You Can Start a Food Processing and Crops Processing Small Business as an Entrepreneur, You Can Also Set Up Multiple Crops Processing Machines on the Near Side of the Farming Area.

Agricultural is One of the Biggest Business in Nigeria and Many People Depends on It, and There Are Many Small Business Around the Agriculture and Farming Business, From Processing to Harvesting It Requires Different Type of Machines So You Can Set Up Your Mill and Help Farmers.

You Can Also Set Up Multiple Processing Machines in a Single Mill and Different Types of Food Products Processing.

Livestock Farming

Starting of Live Stock Business is Another Profitable Business, That You Can Start With Low Investment.

First Understand the Market Demand and Then Start Any Types of Live Stock Farming Like Duck, Poultry, Eggs, Duck, Goat Farming.

You Can Also Take Bank Loans to Start This Business and You Can Get Returns Within a Year.

Poultry Farming

Poultry Farming Business and is One of the Most Lucrative and Local Business Idea That You Can Start With the Help of Modern Technology.

In Nigeria Agriculture is Directly Connected to Food So the Government Comes With Different Subsidies, Schemes, and Agriculture Loans for the Farmers.

As a Young Entrepreneur, You Can Start This Farming Business With the Help of Modern Technology and Start Livestock Farming. Selling of all The Hen, Egg and Poultry for Agriculture is a Multi Earn Business Opportunities.

Used Car Sales

There Are Many People Who Cannot Afford New Cars Looking for Old Cars and You Can Help Them by Starting a Used Car Selling Business.

To Start a Used Car Selling Business You Have to Focus on Purchasing the Best Quality of Old Cars That Are in Good Condition.

You Can Purchase Cars and Repair All the Required Parts of the Car and Then Sale It With a Good Price Bracket.

To Start This Business It Needs a Good Capital and a Place to Start, So if You Have a Budget Then You Can Start This Business With All the Legal Documents and Make Money From It.

Real Estate Agency

Real Estate is One of the High Profitable Businesses, That Require Good Capital to Start.

Nigeria is a Highly Growing Developing Country, So Starting Any Business Related to It Holds a Great Opportunity.

So Start Investing in Real Estate Business if You Have Any Investment and Make a Business Plan Around It to Get a High Return by Doing the Market Research.

Top 15+ Online Business Ideas to Start in Nigeria 2023

In The Past Few Years, There is an Immersive Growth in Online Business Setup in Nigeria As Of Its Multi-Earning Opportunities.

The best Online Business Ideas in Nigeria Are:-

• Social media specialist
• Freelance writing
• Digital Marketing
• Earn From Survey Sites
• Affiliate Marketing
• Ecommerce Business
• YouTube Channel
• Domain Flipping
• Data Entry Jobs
• Web developer
• Online Tutoring
• Graphic designer
• Stock Market Trading

Top 10+ Low Investment Business Ideas in Nigeria (No Cost Business Ideas)

• Security Services
• Courier Service
• Career Counselling
• SEO Specialist
• Landscaping Service
• Service Based Business
• Car Cleaning

What are The Top Cities to Start a Business in Nigeria ?

• Port Harcourt

From Agriculture Businesses to Fossil Fuel Extracting, Nigeria is a Resourceful Country That Attracts Many Locals and Foreign Investors to Set Up Their Businesses and Utilise the Major Benefits Like Rich Resources, Global Import and Export, Widely Availability of Manpower, and Lower Tax Rate.

There is Also Huge Growth of Digital Businesses in Major Nigerian Cities, So Starting of Online Businesses Like Freelancing, Digital Marketing, Content Writing, and Web Development Has Many Potential.

In This Post, We Add All Types of Small Businesses to Service-Based Businesses That Helps You to Start With a Low Investment and Also Helps You to Grab the Global Clients for Your Business.

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12 Cheapest Businesses to Start in Nigeria & Capital (2024)

Ever wondered what the cheapest businesses are to start in Nigeria? We’ve compiled a list of the 12 most affordable businesses you can launch in Nigeria right now with little startup capital. Whether you’re looking to start a side hustle or build a scalable business, these low-cost ideas are perfect if you’re on a budget. Who says you need millions of naira to start a successful business in Nigeria? With the right idea, passion, and determination, you can turn a shoestring budget into a thriving company.

Our list of the 12 cheapest businesses to start in Nigeria will inspire your entrepreneurial spirit and ignite your dreams of business ownership. Let’s dive in!

12 Cheapest Businesses to Start With Little Capital

Starting a business does not have to cost an arm and a leg. There are several affordable, low-cost business opportunities in Nigeria that require little start-up capital. Many of these types of businesses can even be run as home-based businesses to keep overhead costs low.

Starting a tailoring business in Nigeria requires little capital but can be very rewarding. To get started, here are some tips:

Learn the skills

First, learn the necessary tailoring skills through formal training or apprenticeship. You’ll need to be highly proficient in taking measurements, designing, cutting, and sewing clothes. Continuous practice will help you master the craft.

Get the necessary equipment

You’ll need some essential equipment like sewing machines, scissors, needles, threads, measuring tapes, pressing irons, and a mannequin. You can start with just one sewing machine and other basic tools, then acquire more as your business grows.

Find a good location

Look for a shop in a busy area, possibly near a market or residential neighborhood. Make sure there is enough space for your equipment and a reception area. You’ll want foot traffic and visibility to attract new customers.

Build your portfolio

Create samples of your work to showcase your skills. Make different styles of clothes, especially the latest fashions and traditional outfits popular in your area. A good portfolio will help convince customers of your abilities.

Market your services

Advertise to spread the word about your new tailoring business. You can print flyers to distribute in your neighborhood, take out ads in local media, start a social media page to promote your services, or even go door-to-door to introduce yourself to potential clients. Offer discounts and promotions to first-time customers to keep them coming back.

Keep costs low

To maximize profits, keep your costs as low as possible. Buy materials and supplies in bulk at wholesale prices. Recycle or upcycle materials when you can. Price your services competitively based on your skills and experience. With hard work and persistence, a tailoring business in Nigeria can be very profitable with little startup capital required. The key is providing high-quality, personalized service to build a loyal customer base.

The amount required to establish this business is determined by the level of operation desired. For example, if you want to start as a small-scale tailoring, you should have between N100,000 and N150,000 in your bank account. However, to begin as a mid-level tailor, you will require between N500,000 and N700,000. Large-scale tailoring costs more than N1 million.

Food Vending Business

The food vending business is one of the most lucrative businesses in Nigeria, with low startup capital. It’s a business that allows you to start small and grow over time. To start a food vending business in Nigeria, here are some steps to follow:

Secure a good location

Finding a strategic location is key to success in this business. Look for areas with lots of foot traffic, like schools, markets, hospitals or business districts. Make sure the location you choose allows food vendors and any permits needed. It’s best to physically visit locations to determine the best spot. You’ll also want to consider if you need access to utilities like water and electricity.

Get the essential equipment

A basic setup includes a cart, tables, chairs, cooking equipment like burners or grills, utensils, napkins, plates, cups, and trash bags. You’ll also need food ingredients and snacks to sell. Packaged snacks, bottled/canned drinks, fresh fruit, samosa, egg rolls are all inexpensive options to get started. Plan on at least 200,000 Naira for a basic setup.

Build your menu

Keep your menu simple with just 3 to 5 items to start, focusing on popular snacks, meals, or drinks in your area that don’t require a lot of ingredients. Samosa, egg rolls, fufu, jollof rice, and moin moin are all great options. Price your items affordably, around 300 to 1,000 Naira. You can always expand your menu as your business grows.

Market your business

Tell friends and family about your new food vending business. You can also hand out flyers in nearby neighborhoods, advertise on community Facebook groups, or offer promotions and discounts when you first open to attract new customers. Building a loyal customer base through great food and service will drive word-of-mouth marketing.

With some passion and hard work, a food vending business can be very rewarding. Start small, keep costs low, provide great value to your customers and watch your business grow over time. On an average scale, the cost of starting a standard food vending business in Nigeria is ₦800,000

Hairdressing

Starting a hairdressing business in Nigeria is a great idea if you have the skills and passion for the beauty industry. Here are some tips to get you started:

Get the Necessary Skills

To start a hairdressing business in Nigeria, you will need the proper training and certification. Enroll in a hairdressing school or class to learn the latest techniques and styles. Become certified by a recognized body.

Look for a space in a busy area of town with lots of foot traffic, like near a market or university. A small shop front with 1-3 stations is ideal for a new salon. Negotiate the best rent you can; this will be one of your biggest costs.

Purchase high-quality equipment

Invest in tools and products from reputable brands to ensure client satisfaction. Key items include:

• Styling chairs
• Product display shelves
• Shampoo bowls

Build your team

Hire 2-3 skilled stylists to help take on clients and allow the business to grow. Offer competitive pay and commissions to attract top talent. This is only if you can afford it; for a start, you can do it alone till you get lots of customers.

Set your prices

Do research on average prices for different salon services in your area. You’ll want to price slightly lower as a new business to attract customers. Consider offering promotions and package deals.

Create social media profiles to help promote your salon. Offer discounts and deals to new followers. Place ads in local newspapers and magazines. Provide exceptional service so word-of-mouth referrals will spread.

With around ₦500,000 to ₦1 million capital, you can start a successful hairdressing business in Nigeria. Keep costs low, build a loyal client base, and continue developing your skills to become the area’s top salon.

To start a barbing salon in Nigeria, here are the steps and tips to follow:

Secure a shop space

The first thing you need to do is secure a good shop space in a commercial area with high human traffic. For a barbing salon, a space of about 10ft by 15ft is good enough to accommodate 2-3 barbing chairs, a waiting area for customers and a storage section. You can get a shop for between ₦100,000 to ₦500,000 per year, depending on the location.

Purchase the necessary equipment

You will need to equip your salon with the necessary tools like barbing chairs, clippers, blow dryers, sterilizers, mirrors, etc. A barbing chair costs about ₦70,000. You will need 2-3 chairs. Clippers cost from ₦10,000. Blow dryers cost ₦8,000 each. Other tools may cost about ₦50,000. So you need about ₦500,000 to fully equip a standard barbing salon.

Hire qualified barbers

Employ 2-3 well-trained and experienced barbers. Their salaries range from ₦25,000 to ₦40,000 per month. So, budget about ₦100,000 monthly for barber’s salaries. This is only if you can afford it, for a start you can work alone, till you get lots of clients.

Promote your business

Create awareness about your new barbing salon. You can print handbills and share them in your location. Create social media accounts to promote your salon. Offer discounts and promotions, especially when you first open, to attract customers.

Charge affordable prices

You need to charge prices that are affordable to people in your location. A typical barbing session should not cost more than ₦500. You can charge up to ₦1,000 for special styles. This way, you can attract many customers to your salon.

To start a barbing salon in Nigeria, you need about ₦1 million for rent, equipment, and to pay salaries (Optional) for the first 3 months. With good business skills and by providing quality service at affordable prices, you can break even within 6-12 months. The barbing business is a lucrative one in Nigeria if well managed.

POS Business

Starting a POS business in Nigeria is a great way to get into entrepreneurship. To start a POS business, here are the steps and tips to keep in mind:

Register with a Reliable Fintech Company

You’ll need to register your business and obtain the proper permits to operate from any reputable Fintech company, such as Palmpay, Opay, etc.

Invest in High-Quality POS Equipment

Purchase robust POS software, cash drawers, barcode scanners, and tablet or desktop computers. Look for systems that are fast, reliable and integrate well together. Your customers will expect the latest technology.

Market Your Services

Build a professional website to help market your business. You can also create social media profiles, offer promotions and discounts, take out ads, and network with local businesses. Word-of-mouth marketing from happy customers can also help grow your business.

Charge Competitive Rates

Research what other POS operators in your area are charging for their services. Price your services affordably but high enough to make a good profit. You may need to start lower to attract new clients.

Provide Great Customer Service

Build long-term relationships with your clients through friendly, helpful service. Satisfied customers will remain loyal and refer others.

With about 50,000 naira capital for startup costs and a commitment to service, a POS business can be very rewarding. By following these steps and tips, you’ll be on your way to building a successful point-of-sale company in Nigeria.

Freelancing

Freelancing is one of the cheapest businesses to start in Nigeria. It requires minimal startup capital and overhead costs. All you need is a skill or talent, a computer, and an internet connection. Here are the steps to get started:

To begin freelancing in Nigeria, first, determine what skills or services you can offer. This could be writing, programming, graphic design, virtual assistance, and more. Make sure it’s something you have experience in and can demonstrate your abilities.

Next, build your online presence. Create a professional website to showcase your services and work samples. You should also start a profile on freelancing websites like Upwork, Fiverr, and Freelancer . These platforms allow you to find clients and projects to bid on. Fill out your profiles with details about your experience, education, skills, and reviews from previous clients.

Determine your rates based on your skills and experience. Do some research to see what other freelancers are charging for similar services. You want to price yourself competitively while still making a good profit. You can charge by the hour or per project.

Start marketing your services and applying for jobs on freelancing websites. Also, network on platforms like LinkedIn to find new clients. Get good reviews and ratings to help boost your visibility. Continue honing your skills through practice and online courses.

Some tips for successful freelancing in Nigeria:

• Build a professional online presence: A website and profiles on freelancing platforms establish your credibility.
• Focus on high-demand skills: Areas like writing, programming, and graphic design are always in need of freelancers.
• Set your rates competitively: Charge enough to make a good profit but not too much that you price yourself out of the market.
• Get good reviews and ratings: Positive reviews from clients will help you land more work. Ask clients for reviews and ratings on freelancing websites.
• Continuously improve your skills: Take online courses and practice to strengthen your abilities. Stay up-to-date with new technologies and tools in your field.
• Diversify your income streams: Don’t rely on one freelancing website or a single client. Have multiple sources to generate work and income.

The capital required to start freelancing in Nigeria is minimal. You mainly need a computer, internet access, and money to build your online presence. With hard work and persistence, freelancing can provide a good source of income with little financial investment.

Cleaning Services

Starting a cleaning service business in Nigeria is a great way to become your own boss with minimal startup costs. All you really need to get started are some basic cleaning supplies and equipment, transportation to get to clients, and a solid plan to build up your business.

To start a cleaning service in Nigeria, follow these steps:

• Develop a business plan. Outline your mission and vision, target market, marketing plan, operational details, and financial projections. This will help guide you and prepare you for success.
• Register your business. Choose a business structure like sole proprietorship, partnership or limited liability company. Then, register with the Corporate Affairs Commission.
• Determine your services. Offer residential cleaning, commercial cleaning, floor cleaning, window cleaning, or a combination. Figure out your rates and fees based on your offerings.
• Build your brand. Choose a business name, logo, and tagline. Get business cards, set up a website, and create social media profiles to market your new company.
• Buy supplies and equipment. Invest in quality cleaning agents, tools, vacuums, mops, buckets, gloves, and anything else you’ll need to clean clients’ spaces properly.
• Recruit staff or train yourself. Hire qualified cleaners or train yourself and any employees on proper cleaning techniques. Provide them with supplies, uniforms and transportation.
• Find customers. Market your cleaning service through your website, social media, ads, promotions, networking, and word-of-mouth referrals. Offer introductory rates or discounts to win new clients.
• Provide great service. Show up on time, do high-quality work, and be professional and friendly. Get reviews and testimonials from happy clients to build your reputation.
• Expand as needed. As your business grows, you may need to hire more staff, invest in more supplies and equipment, find larger office space, and continue marketing to new potential clients.

Following these steps and tips will set you up for success in launching your own cleaning service business in Nigeria with minimal capital required. The capital required is determined by the type of cleaning service you wish to start. To start a residential cleaning service, you will need a capital of about #100,000. Stay dedicated and keep working to build up your company into a thriving endeavour.

Personal Shopping Services

A personal shopper service is one of the cheapest businesses to start in Nigeria. As a personal shopper , you help clients shop for various items like groceries, gifts, or clothing. Many people love shopping but don’t have the time to do it themselves. That’s where you come in!

To get started, determine what type of personal shopping service you want to offer. Do you want to focus on grocery shopping, gift shopping, wardrobe styling, or a combination? Set your business apart by focusing on a specific niche.

Next, create a professional website showcasing your services. Include details about your background, experience, and the types of shopping you can do for clients. You’ll also want business cards to hand out to potential customers.

Market your new business through social media, online ads, and by reaching out to local retailers. Offer promotions and discounts to first-time clients to get the ball rolling. Build your reputation by providing friendly, efficient service. Ask happy clients to leave reviews on your website or social media.

You don’t need a physical retail space for a personal shopping business. Meet with clients virtually or in-person to discuss their needs and budget. Shop for the requested items on your own time, then schedule a time to deliver the goods. Many personal shoppers charge an hourly rate, commission, service fee, or a combination. You can expect to make between ₦50,000 to ₦200,000 per month or more, depending on the number and type of clients.

The startup costs for a personal shopping service are minimal. You’ll need a reliable computer, phone, website, business cards, and transportation to meet clients and shop. The total capital required would be around ₦100,000 to ₦300,000.

A personal shopping service is a fulfilling business that requires exceptional customer service and style skills. If you enjoy shopping and helping others, this could be an ideal business for you to start in Nigeria. Follow these tips, focus on your niche, and you’ll be assisting happy clients with their shopping needs in no time.

Makeup Services

Starting a makeup services business is a great way to turn your passion for beauty into a profitable venture. To get started, follow these steps:

Develop your skills

First, make sure you have the necessary skills and training to provide professional makeup services. You’ll need to be highly proficient with makeup application techniques, tools, and products. Consider pursuing makeup artistry certification or a course in cosmetology school. Hands-on practice is also extremely valuable. Offer to do makeup for friends and family or volunteer your services for events like weddings, birthdays, and other ceremonies.

Create a business plan

A solid business plan will help you outline your vision, target market, and operational details. It will also be necessary if you need funding from investors or a bank loan. Include sections on your company overview, target market, marketing plan, operational details, and financial projections.

Determine your services

Decide what types of makeup services you want to offer. Things like bridal makeup, special event makeup, makeup lessons, etc. You may start with a few core offerings and expand from there as your business grows. Consider your areas of expertise and what’s in demand in your local market.

Set your rates

Research what other makeup artists in your area are charging for similar services. Set your rates competitively based on your level of experience and expertise. You’ll want to charge enough to cover costs and turn a profit without pricing yourself out of the market. Offer package deals and discounts when possible to attract new clients.

Create a professional website to promote your makeup services and share photos of your work. Build a social media presence on platforms like Instagram and Facebook. Offer promotions and deals to new followers and clients. Network by attending wedding expos and cosmetology events and by partnering with local wedding planners, photographers, and beauty salons. Word-of-mouth marketing and referrals from happy clients will also help drive new business.

With the right skills, planning, and persistence, launching a successful makeup services company is absolutely achievable. Stay passionate, continue improving your craft, and really focus on building a loyal client base. In no time, you’ll be well on your way to turning your love of makeup into a thriving business.

Airtime and Data Reselling

To start an airtime and data reselling business in Nigeria, here are the basic steps and capital required:

Airtime and data are in high demand in Nigeria, so this business has good potential. Many people prefer to buy airtime and data in small denominations as needed rather than in bulk. As a reseller, you buy in bulk at a discount from network providers like MTN, Glo, Airtel and 9mobile, then resell to customers in smaller amounts at a profit.

To get started, you need a small capital of around ₦50,000-₦100,000 to buy your initial airtime and data inventory. You also need a location to operate from, like a small kiosk or shop; you can also operate it fully online by having a VTU (Virtual Top Up) website. Many resellers operate from small roadside kiosks, tables or online. You’ll need a means of storing and securing your inventory as well.

Next, you need to register your business. While airtime reselling is open to anyone, data reselling requires registering with network providers to buy data in bulk. They will train you and provide marketing materials to get started.

Market your business by printing flyers to distribute in your area, telling friends and family, using social media, and offering promotions and discounts to new customers. Provide great service by selling promptly, offering various denominations, and staying up to date with the latest plans and bonuses from network providers.

To boost sales, offer additional services like mobile bulk SMS, TV or Decoder Subscription, and Electricity payment. You can also become a super reseller, buying in very large volumes at big discounts and distributing to other resellers as well as directly to customers. With time and increasing inventory, airtime and data reselling can become quite lucrative.

The keys to success are excellent customer service, keeping enough inventory on hand to sell promptly, buying at the best discounts by maintaining a good relationship with network providers, and continuing to promote your business to reach new customers. With hard work and patience, you’ll soon build a loyal customer base and see your profits grow.

Bale Business

To start a bale business in Nigeria, here are some tips to get you going:

Capital Required

To start a bale business in Nigeria, you will need a capital of at least ₦50,000 to ₦200,000. This will cover the cost of renting a shop and purchasing clothes and other tailoring materials. You can start small and grow over time.

Find a Good Location

Look for a shop in a busy market area close to your target customers. Make sure there is enough space for your equipment, fabrics, and workspace. You will also need storage space for products. Rent in a commercial area may cost ₦50,000 to ₦20,000 per month.

Recruit Staff

You can hire a salesperson to assist you, especially when your business grows. Pay them competitively based on experience. You may start by hiring apprentices and training them. Treat your staff well to ensure low turnover.

Market Your Business

Promote your bale business through word-of-mouth and social media platforms like Instagram and Facebook, as well as by offering discounts and promotions. Build a great reputation by providing high quality, stylish and affordable bale clothing. Satisfied customers will spread the word about your business.

With time and consistency, a bale business can become very lucrative in Nigeria. Keep improving your skills, providing great customer service, using quality materials, and keeping up with the latest fashion trends. Your bale business will thrive.

Affiliate Marketing

Affiliate marketing is one of the cheapest businesses to start in Nigeria. All you need is a laptop or phone, an internet connection and some time. Here’s how to get started:

Find a niche

The first step is to find an area of interest that you’re passionate about. Some options include tech products, fashion, health & wellness or finance. Do some research to identify popular brands and products in your chosen niche.

Select products to promote

Once you’ve chosen a niche, pick high-quality products from reputable brands to promote as an affiliate. Look for brands that offer affiliate programs with good commission rates, typically 10-30% of each sale. Popular affiliate networks in Nigeria include Jumia Affiliate, Konga Affiliate and Wakanow.

Build your website

Create a simple website or blog to promote your affiliate products. You can build a site for free using WordPress.org or Blogger. Add content like blog posts, reviews, and ‘best of’ lists featuring your affiliate products. Optimize your content for search engines to drive organic traffic.

Promote on social media

Leverage social platforms like Facebook, Instagram and Twitter to spread the word about your affiliate products. Share your blog content, post photos of the products in action, and engage with your followers. Participate in relevant Facebook groups and online communities to reach new potential customers.

Track your sales

Most affiliate programs provide tracking links or discount codes to monitor your sales. Be sure to use these to properly attribute sales to your account. Many programs pay out commissions once a month for the previous month’s sales. The capital required to start is typically less than ₦50,000 to cover a domain name and basic website hosting.

With time and consistency, affiliate marketing can become a great source of passive income. The key is choosing products you genuinely want to promote and providing value to your readers and followers. With work, you can build a successful affiliate business in Nigeria.

There are many other cheap businesses to start in Nigeria, like farming, consulting, laundry and dry cleaning, event planning, and transportation. With hard work and persistence, these affordable business ideas can become very profitable.

Tips for Running a Successful Business on a Small Budget

To run a successful business on a tight budget, follow these tips:

Start with a solid plan.

Having a well-thought out business plan is key. Outline your vision, mission, target market, and operational details. Figure out how much it will cost to get started and keep things running. Update your plan regularly as things change.

Focus on your niche.

Don’t try to be all things to all people. Concentrate on a specific product, service or target audience. Become an expert in your niche so you can better serve your customers. Keep your product line or service offerings narrow and deep.

Watch your costs carefully.

Look for ways to minimize expenses, like using free business tools and planning efficient processes. Negotiate the best rates from vendors and suppliers. Buy used or refurbished equipment instead of new. Barter and trade with other businesses to reduce costs.

Offer great customer service.

Word-of-mouth marketing and repeat customers are essential for small businesses. Go above and beyond to provide amazing service. Collect feedback and reviews, then make improvements. Loyal, happy customers will help your business grow.

Use low-cost marketing techniques.

Employ inexpensive ways to spread the word about your business, like social media, content marketing, public relations, and partnerships. Sponsor local events or sports teams in exchange for promotion. Offer discounts and specials to attract new customers.

Consider going mobile or virtual.

If possible, eliminate or reduce the need for office space for your business by operating remotely or with a mobile set-up. Meet clients and customers at their location instead of your own office. Save on rent, utilities and commute costs.

Get help when you need it.

As a small business owner, you can’t do everything yourself. Outsource or delegate non-essential tasks so you can focus on growing your business. Hire part-time staff or interns, or barter with other businesses for skills and services. Ask friends and family for help in a pinch.

Continuously learn and improve.

Take free or low-cost business courses online or through your local Small Business Development Center. Stay up-to-date with the latest tools, software, and best practices for your industry. Make ongoing improvements to systems, products, services and marketing to boost your business. Continuous learning and progress will drive success.

Remember, starting a cheap business in Nigeria requires hard work, dedication, and a willingness to adapt to changing market dynamics. With the right mindset and a clear business plan, you can turn your low-cost venture into a thriving business.

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Small Business Trends

300+ catchy balloon business name ideas.

A balloon business can be very successful due to the universal appeal of balloons. Balloons are a popular and affordable way to decorate and celebrate, making them a staple at events of all kinds. And if you are looking to open a balloon business, catchy balloon business names can go a long way in getting the attention of your customers.

But what’s in a name? Well, the right business name can set the tone for your brand. A lso, when starting a balloon business, choosing the right name is crucial for making a memorable impact on your target audience.

So, how to come up with a business name that captures the essence of your balloon business brand and strikes a chord with customers?

In this article, we will tell you how. Here, we explore effective strategies and provide you with a comprehensive list of catchy balloon business name ideas to inspire your naming process.

Let’s get cracking, shall we?

Table of Contents

Best Balloon Business Name Ideas

To get you started, here is the first batch of balloon business names.

• Bounce & Balloons
• Balloon Bash Co.
• Blown Away Balloons
• The Balloon Boutique
• Balloons & Confetti
• Floaty Balloons
• The Balloon Garden
• Balloon Heaven
• Balloon Magic Co.
• Balloon Mania
• Ballooniverse
• Balloon Wishes
• Balloon Wonderland
• Airhead Balloons
• Balloons Away Co.
• Balloon Bashers
• Balloon Bliss
• Big Balloon Co.
• Bubble & Balloons
• Celebration Balloons
• Colorful Clouds Balloons
• Festive Balloons
• Happy Balloons Co.
• High Flyer Balloons
• Hot Air Balloons Co.
• Joyful Balloons
• Party Pop Balloons
• Playful Balloons
• Rainbow Balloons Co.
• Skyward Balloons
• Sparkle & Shine Balloons
• Sunny Day Balloons
• The Balloon Emporium
• The Balloon Experience
• The Balloon Spot
• The Balloon Studio
• The Big Balloon Company
• Whimsical Balloons
• Young Balloons
• Balloons Aplenty
• Balloons R Us
• Balloons to Go
• Balloon Exchange
• Balloons Balloon
• Princess Balloons
• Precious Balloons

Most Catchy Balloon Business Names

These names are memorable, fun, and attention-grabbing, making them perfect for a balloon business.

• Balloons & Bouquets
• Poppy Balloons
• Up, Up & Away Balloons
• Balloon Buzz
• Balloon Bar Co.
• The Balloon Brigade
• Balloon Fiesta
• Balloons Galore

One-Word Balloon Business Name Ideas

One-word business names are simple, memorable, and easy to pronounce, making them ideal for a balloon company. They are also versatile and can be adapted to multiple industries, making them effective for building a strong brand identity. One-word names can create a sense of sophistication and modernity, making them stand out in a crowded market.

• Balloontastic

Unique Balloon Company Names

There are many reasons why you need a unique business name , and top on that list is brand recognition. A unique name always manages to get the attention of consumers. However, coming up with that unique balloon business name is not that easy. Here are some ideas

• Balloonarium
• Confetti Clouds
• Balloon Emporium
• Bubble & Pop
• Balloonscapes
• Whimsical Inflatables
• Kaleidoscope Balloons
• Balloon Boutique
• Pop Art Balloons
• The Balloon Connection
• Balloon Nirvana
• Balloonopolis
• Balloon Forest
• Balloon Arch Angels
• Balloons Without Borders
• Bunches & Balloons
• Balloon Safari
• Balloon Garden
• Balloon Meister
• Balloon Corner

Creative Balloon Business Names

Being creative with your business name is hit or miss. So, there is a fine balance you have to keep to not turn your customers off. These are some very creative business names you can use safely without alienating anyone.

• Balloonatic
• Balloonovation
• Inflatabulous
• Balloonostra
• Balloonsmith
• Balloonzilla
• Ballooney Tunes
• Balloondoggle
• Balloonatic Designs
• Balloonatics Anonymous
• Balloonometry
• Airborne Artistry
• Balloons on Cloud 9
• Balloondock Saints
• Up, Up & Amaze
• Inflatamania
• Ballooniversity
• Balloons & Bubbles
• Balloonoisseur

Names With Use Puns, Alliteration

Using puns and alliteration in business names can create a memorable and catchy brand image that captures the attention of potential customers. These playful and creative naming techniques not only make your business stand out but also evoke positive emotions, making your brand more appealing and unforgettable.

• Bubble Busters
• Pop n’ Party
• Helium Hugs
• Balloon Bazaar
• Inflated Fête
• Ballooney Toons
• Party Poppers
• Balloon Bonanza
• Inflate ‘n Celebrate
• Balloonacious
• Float n’ Fun
• Balloon Bubbles
• Airy Amusements
• Poppy’s Parties
• Balloon Brigade
• Inflate Escape
• Airy Aspirations
• Up, Up & Away
• Balloon Buffet
• Bubble Blast
• Balloonatics
• Soar n’ Celebrate
• Airy Antics
• Balloon Bouquets
• Inflated Intrigue
• Pop n’ Palooza
• Balloon Banquet
• Airy Adventures
• Balloon Blitz
• Inflate Your Imagination
• Balloon-o-rama
• Bounce n’ Balloons
• Balloon Boulevard
• Up, Up & Party
• Balloons Over Broadway
• Inflated Inspiration
• Balloonapalooza

Rhyming Balloon Business Name Ideas

You can have more fun with balloon business names by rhyming words. This can also be tricky so here are some names to inspire you.

• Balloons & Tunes
• Balloons & Moons
• Balloons & Cartoons
• Balloons & Harpoons
• Balloons & Maroons
• Balloons & Typhoons
• Balloons & Buffoons
• Balloons & Baboons
• Balloons & Saloons
• Balloons & Racoons
• Balloons & Bassoons
• Balloons & Doubloons
• Balloons & Cocoon
• Balloons & Fortune
• Balloons & Opportune
• Balloons & Platoon
• Balloons & Dragoon
• Balloons & Lampoon
• Balloons & Sand Dune
• Balloons & Festoon
• Balloons & Monsoon
• Balloons & Pecan Prune
• Balloons & Silver Spoon
• Balloons & Poltroon
• Balloons & Picayune

Tips For Creating Fun Balloon Business Names

When creating a balloon business name, it’s important to strike a balance between being fun and creative while still being professional and memorable. A good balloon business name should reflect your brand’s personality and values while also being easy for customers to remember and associate with your company.

Here are some tips for creating the best balloon business names:

• Keep it simple and easy to remember
• Use puns, alliteration, or rhyming words to make it catchy and fun
• Incorporate your location or specialty in the name
• Consider your target audience and create a name that resonates with them
• Look for inspiration from the balloon itself – its shape, color, and texture can all spark creative ideas for a business name
• Brainstorm with friends or family to generate new and unique ideas
• Conduct market research to ensure that the name you choose isn’t already taken or too similar to another balloon company’s name

Follow these tips and use your creativity to come up with a fun and memorable name that will make your business stand out.

Fun Balloon Business Name Ideas

• Mad Balloons Company
• Zany Zoo Balloons
• High Balloons
• Big Balloons
• Goofy Balloons
• Bright Balloons
• Balloons Mr
• Balloon Attic
• Party Balloons
• Fighting Balloons

Consider SEO When Naming Your Balloon Business

SEO (Search Engine Optimization) is the practice of optimizing your website and its content to increase visibility and organic traffic through search engine results pages (SERPs). One important aspect of SEO is selecting the right keywords to target in your website’s content, which is also crucial when naming your business. By incorporating relevant keywords in your business name, you can help potential customers find your website more easily through organic searches on search engines like Google or Bing.

When selecting a name for your balloon business, consider including relevant keywords that describe what you offer. For example, if you specialize in creating custom balloon displays for weddings, you may want to include keywords like “wedding,” “custom,” or “display” in your business name. This can help your business appear higher in search engine rankings when someone searches for these specific terms.

In addition to helping with search engine rankings, SEO can also improve the overall user experience on your website. A clear and concise business name that reflects your brand’s values and offerings can help potential customers understand what you offer and make it easier for them to navigate your website.

Ultimately, SEO is important when naming your business because it can help increase brand awareness, drive organic traffic to your website, and ultimately, lead to more conversions and sales. By incorporating relevant keywords and optimizing your website’s content, you can improve your chances of being discovered by potential customers through search engine results.

Balloon Business Name Generator

If you are still at a loss for a name, you can always go to business name generators and see if they can help you come up with something. Here are five sites for business and domain names:

BrandBucket

BrandBucket is a popular business name generator that provides unique, brandable business names and domain names for startups and businesses. Their curated collection of brand names is created by professional branding experts and is suitable for a wide range of industries and businesses.

Namesnack is a business name generator that uses artificial intelligence to generate custom business names based on your industry, values, and style preferences. With their platform, you can easily generate creative and unique business names that stand out and reflect your brand’s personality.

Novanym is a business name generator that specializes in providing unique and memorable brand names for startups and businesses. They offer a wide range of creative business names across different industries and are known for their easy-to-remember and brandable names.

Squadhelp is a business name generator that offers a unique and collaborative approach to generating business names. Their platform allows you to launch a naming contest and receive custom business name suggestions from a community of over 100,000 creatives, ensuring you get the best name possible for your business.

NameMeshis a business name generator that provides a wide range of business name ideas based on your keywords, industry, and style preferences. Their platform allows you to search for domain names and offers suggestions for creative and memorable business names that are available for registration.

These business name generator sites can be helpful resources for generating creative and unique business and domain names for your startup or existing business. With their user-friendly interfaces and advanced algorithms, you can easily find a name that reflects your brand.

The Process of Naming Your Balloon Business

The process of naming your business is very important, as it sets the tone for your brand and helps create a lasting impression on your customers. This guide will walk you through the essential steps to create an unforgettable name for your balloon business, from brainstorming to gathering feedback.

Start With Brainstorming Names for Your Balloon Business

Begin by generating a list of potential names for your business. Consider various aspects like your target audience, the services you offer, and the emotions you want to evoke. Don’t limit yourself at this stage – allow your creativity to flow and come up with as many ideas as possible.

Research Balloon Businesses That Have Intriguing Names

Study other balloon businesses with unique and memorable names. Analyze what makes their names stand out and take note of any patterns or trends. Draw inspiration from these examples to refine your own naming ideas.

Shortlist Your Naming Ideas

After brainstorming, narrow down your list to the top 5-10 names. Consider factors like uniqueness, relevance, and marketability. Eliminate names that are too similar to competitors or difficult to pronounce and spell.

Must be Easy to Remember

Choose a name that is catchy and easy for customers to remember. This will help with word-of-mouth marketing and make it simpler for potential clients to find you online or recommend you to others.

Create a Professional Email Address

Once you’ve chosen a name, create a professional email address using your business name. This not only adds credibility to your brand but also reinforces your business identity in your customers’ minds.

Check for Domain Availability

Before finalizing your name, ensure that a suitable domain is available for your business. A strong online presence is essential, and securing the perfect domain is a vital step in establishing your brand’s digital footprint. This goes along with all the steps when you register your small business .

Try to Make the Name SEO Friendly

Opt for a name that incorporates keywords relevant to your business, as this can help improve your search engine ranking. Research popular search terms in your industry and consider incorporating them into your business name.

Creating a Logo is Essential

Design a captivating logo that reflects your brand identity and resonates with your target audience. Your logo should be visually appealing and complement the name of your business, helping to establish brand recognition.

Ask Your Family And Friends For Feedback

Finally, seek feedback from family and friends on your chosen name and logo. Their insights can help you identify any potential issues and refine your brand identity before officially launching your balloon business.

From birthdays to weddings, balloons add a festive and playful touch that people of all ages love. Additionally, the creativity and customization options of balloon designs make them highly adaptable to any theme or occasion, allowing a balloon business to cater to a wide range of clients and events. With the right marketing and customer service, a balloon business can be a profitable and fulfilling venture.

FAQs About Naming Your Balloon Business

How important is the name of my balloon business.

A: The name of your balloon business is crucial, as it represents your brand identity, sets the tone for your company, and creates a lasting impression on customers. A well-chosen name can help you stand out from the competition and build a strong foundation for your brand.

How can I create a unique name for my balloon business?

To create a unique name, focus on your business’s core values, target audience, and services offered. Brainstorm a list of potential names and ensure they are not too similar to competitors. Consider using puns, alliteration, or a combination of words that evoke the desired emotions and image for your brand.

Should I include keywords related to balloons or events in my business name?

Including relevant keywords in your business name can be beneficial for SEO purposes and help customers understand the nature of your business. However, don’t sacrifice creativity or uniqueness solely for the sake of incorporating keywords.

How can I make sure my balloon business name is easy to remember?

To create a memorable name, choose one that is catchy, easy to spell, and pronounce. Avoid using overly long or complex words, and consider utilizing alliteration or rhyming to make your name more memorable.

Do I need to check for trademark issues when naming my balloon business?

Yes, it’s essential to ensure that your chosen name is not infringing on any existing trademarks. Conduct a trademark search to avoid potential legal issues and ensure your business name is unique within your industry.

How do I know if my chosen domain name is available?

Use domain search tools, such as those provided by domain registrars, to check the availability of your desired domain name. If your preferred domain is taken, consider alternative domain extensions or slight modifications to the name while preserving your brand identity.

Can I change the name of my balloon business after I’ve started it?

While it is possible to change your business name after starting it, doing so can be challenging and may lead to confusion among customers. It’s best to invest time and effort in choosing the right name from the beginning to avoid potential complications down the road.

How do I legally register my balloon business name?

To register your balloon business name, first check the availability and any trademark issues. Then, follow the specific registration process in your country or state, which may include registering a fictitious business name, DBA (Doing Business As), or incorporating your business as an LLC, partnership, or corporation.

Image: Envato Elements

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