A lot of people in Nigeria are looking for a business to do in Nigeria in order to either have a means of livelihood or supplement their income. Starting a business in Nigeria can be daunting when you don’t know which business to do. This is why we have compiled a list of the most profitable business ideas in Nigeria.
Nigeria is a capitalist country which means that every individual living in Nigeria has the opportunity to start a business of their own without government interference. And with over 200 million people who have families to take care of, one thing in the mind of many is how do we make ends meet. In other words, which business can we start right here in Nigeria to make money from?
These businesses are a compilation of both local businesses, skilled businesses, service business, supply business, rental business, online businesses, etc.
Ready? Here are the 75 business ideas in Nigeria you can start to make money.
PS: The businesses mentioned are only arranged in categories for easier consumption and are listed in no particular order of importance.
Manufacturing Business Ideas In Nigeria
1. Block Industry
Block Industry is a lucrative local business idea in Nigeria. I used to think this was a very difficult business to start until someone I know started his. And this is something you can do even if you are residing in a rural area. The building industry is booming as more people are venturing into real estate. Rather than go through the process of buying cement and looking for masons to mix and mould the block, many people are opting to just buy the already made blocks.
To start a block industry, you can just rent an empty space of land and order like 3 trips of sand. This will cost you an average of 12,000 per trip. Then buy about 30 bags of cement or 15 just for a start. Get some local masons and pay them per day or per the number of cement they are able to finish.
All this will cost you about 150k to start. Next is a small Diana truck to delivering the blocks. A small fairly used truck goes for about 500,000 Naira (from the source of someone who bought his). If you don’t have a truck, you can discuss terms with someone who has and factor it into your charges until you make enough money to buy yours.
2. Carpentry or Furniture Making
Nigerians now import furniture from all over the globe. This means that there are not enough furniture-producing companies in Nigeria. You can make furniture on a small or large scale. Or you can start small and then grow. You can start by creating custom furniture, such as chairs, cabinets or beddings. As time passes, you can expand your production.
You will need to have the following equipment: panel saw, hammer and edge binders, edges foilers, boring machine, drill presses, etc.
3. Perfume Manufacturing
The manufacturing of perfume is low-cost in Nigeria, but it’s highly competitive. Perfume is highly sought-after by fashion-conscious people, as everyone loves to smell good.
Perfumes can be made from a combination of alcohol, essential oil and spring water. They can be used to maintain the skin’s moisture and make body creams. Your perfume should be rich in scents and packaged in an elegant manner.
Glass jars for perfume production, measuring spoons, aluminium foil and funnel are just a few of the items you will need.
We have given you an overview of the manufacturing business ideas. Now it is time to explore how you can create one and make it a success.
4. Organic Cosmetics Production Business
This is another thriving business idea in Nigeria right now. If you are passionate about skincare, the cosmetics industry will prove to be a great business for you. These days, so many Nigerians are careful about the kind of soap, cream, or cosmetics they use on their skin. Many prefer to now use natural homemade soaps and creams.
You can take advantage of this growing market to fill this demand for organic soaps and creams. To succeed in Nigeria’s cosmetics business, you must do extensive research. This might seem daunting but once you start selling, the profit will make you smile.
I personally know someone who is into the business of making organic soaps. She sells each soap for 2000 naira but the cost of production is not more than 600 naira.
5. Liquid Soap Production
This is a bit in the same industry as organic soap production. This is because the people that sell the raw materials are kind of the same or similar. However, the process is quite different.
What makes this a lucrative small business is that Nigeria’s liquid soap market is so big that even well-known brands can’t keep up with demand.
This product is essential for every household in the country. There will always be demand. It is up to you to meet up with the supply.
Most of these homemade liquid soaps are without branding and old in plastic bottles for as low as N50 to N100. This is one of the major investment opportunities in Nigeria today. Making liquid soap can bring in a lot of money. You can sell it to restaurants, bakers and caterers as well as to home-keepers.
Some training may be required at vocational centres that are run by government agencies, churches, or other non-governmental organizations. With this business, you will be able to make a reasonable profit due to the large market even without branding and quality packaging.
Welding has to do with the production of iron equipment like iron gates, iron tanks, iron rails, iron doors etc. Although it is a business for the skilled and is a bit capital intensive to start, it is a highly lucrative one.
You don’t need a big shop to start. All you need is an open space along the road where you can display your finished goods and a small shop where you can lock your small equipment.
The equipment needed to start a welding business is a filing machine, welding machine, cutter, sandpaper, etc.
7. Shoe Making
You can start a shoemaking business from your own home. As time passes, you can grow into a larger manufacturing company. This is a sustainable and profitable business that requires creativity.
The shoe and belt-making business go hand in hand. Both can be made from leather, rubber, synthetic, wool, foam, textile, hook, and many other materials. You can either produce large quantities or small amounts and then sell wholesale to retailers or to consumers.
You only need the ability to use patterns and other important tools such as a pattern-making and cutting machine, shoe moulds, and so on.
8. Polyethene Bags
Almost all products require packaging before they reach the end consumer. Packaging can take the form of plastic, nylon or paper. It can be used every day and is very simple to make.
Polyethene is a polymer substance that is used to make plastic bags. It is chemically modified into polyethene from ethylene. It can be easily manipulated into many shapes, sizes, densities, and textures. With minimal capital, plastic bags can be started in the comfort of your own home. You can get an extruder, cellulose, natural gases, and other equipment if you are interested.
9. Ice block Production and Sales
Ice block production is a popular small business idea in Nigeria. Nigeria is located in the tropical climate region, which has a lot of heat and sunlight.
The electricity supply is extremely poor in Nigeria, which makes it difficult for households to keep enough cold water in their refrigerators. This is why ice block production in Nigeria is a lucrative business.
Ice blocks are needed to keep water and drinks cold. Your market is made up of households, bars, restaurants, and retail shops that all need to keep their drinks cold.
You can start this business with what little you have. All you need is a large freezer and a generator of medium size. You can grow your business by purchasing an ice-block-making machine as you earn more money. Looking for a small business idea? This could be it.
Spice and condiments are essential ingredients that enhance the flavor of food. It adds color and flavor to food. It’s common at restaurants, events, hotels, and other places where food is prepared.
Both in local and international markets, spices are in high demand. It can be made at home and packaged, branded, and exported for sale. You only need to obtain the raw materials, grate and add flavors.
You can make condiments and spices with tools such as a mixer, grinder, and raw materials.
11. Cake making
This is a very lucrative business idea if you are someone who has a passion for baking. However, to start baking cakes for business, I’d advise that you train properly to make sure you can bake trendy and sumptuous cakes. In today’s cake baking, a lot of work is put into decoration the finishing that in the actual edible part.
On a low budget, you can start in your own kitchen. Sending samples of your cakes to interested parties is a great marketing strategy. You can also showcase photos of the cakes on Instagram with appropriate hashtags.
12. Packaging for Small Chops
A sister to the baking business is the small chops business. This is a booming business idea to start in Nigeria. In the last few years, Nigerians have become more interested in light meals such as small chops.
Small chops are a great choice for small events such as weddings, funerals, and birthday parties.
Small chops are great because even though there are many people who offer this service, there will always be demand. Creativity and packaging are key ingredients to a small chops business that is successful.
ICT BUSINESS IDEAS IN NIGERIA
13. Mobile Phone Repair
In the mobile phone industry, one booming business you can start is mobile phone repairs. If you’re patient and know how to fix and maintain mobile phones, this is a great business idea. You can start your own repair and maintenance company in Nigeria with less than N50,000
You will need a little training, a laptop and software tools. You will also need to market your business. It is also important to build good relationships with quality accessory dealers. You can buy a repair kit online for as low as N5,000.
14. Design and maintenance of websites
Many businesses don’t have an online presence yet. This is a no-no in this digital era. In my opinion, every business that needs clients or customers needs a website. If not to sell, at least to give information about their business to people who would look it up to find more info about your business.
This trend has increased the demand for website designers. You can make a great business if you know you are properly skilled.
You will need to be able to create professional websites, create web graphics, register and host domain names.
Check out this web design course to learn web design.
15. Writing: Content writing and Editing
Are you are a good writer that can spin engaging words? Then, you might want to consider this online business model. Heck! It can be done offline too because there is a growing need for businesses to update their blog.
The ease of this business model makes it ideal for students and graduates alike. It doesn’t require much to start.
All you need is to sign up with some freelance websites like Upwork, or Fiverr and optimize your profile for the job.
If you prefer to run it as a local business, you can search for content writing jobs in your state or locality and you will be amazed at how many companies are looking for a content writer.
Bloggers, media agencies, and startups will pay a lot for content writers who are able to write clean copy for websites, blogs, or advertisements. You may even be paid for editing services.
This is one of the booming online business ideas in Nigeria and worldwide. Blogging is something you can start if you are good at writing or have the passion to write. You can make money online by blogging. All you need is an internet connection, good research skills, passion, time, and some patience. Your time is the most valuable and expensive investment in your blogging career.
Also, since you would want people to find your blog posts without manually promoting them all the time, you would need to learn how to optimize your posts for search engines like Google or hire the services of an SEO Expert.
You can create a blog for free with WordPress.com or Wix, or, if you have the funds, set up a self-hosted WordPress blog. The self-hosted WordPress blog is the best option for bloggers.
Join My Free Blogging Class Here
Get people to read your blog (we teach this in our free blogging class), gain their trust, and then monetize it with Google AdSense, display ads, affiliate marketing, or sell information products like ebooks. You would be glad you engaged in this online business idea in Nigeria.
This is another online business model. It is one of the popular online business ideas in Nigeria. This is a business you can start with very little capital. You will need your smartphone or laptop, internet data, and your social media platforms, e.g. Facebook, Twitter, and LinkedIn are some examples. This could be your online shop. On a more standard scale, you could open a Shopify store.
Check out this post on how to dropship with Shopify
This is one of many lucrative business ideas that has brought in millions of naira. The secret of the business is identifying and knowing what the people need at the particular moment and knowing where and how to source for those items (AliExpress is a good place to start dropshipping in Nigeria).
18. Lead Generation Business
You can position your company to grab a significant share of the market now by setting up your own lead generation business and offering clients top-quality lead generation services with proven results.
Lead generation companies assist small, medium, and large businesses in getting leads for their business so that these companies can make more sales.
These leads can be in the form of emails, phone numbers, addresses, or any other contact info.
Many businesses outsource lead generation tasks to experts to enable them to concentrate on other areas of their business development.
19. Information Marketing
This is another online based business that many Nigerians in the online world have benefited immensely from.
Information marketing is all about selling any special information you have that is in high demand or you think people are looking form
It is possible to make money online by packaging your information as a report, ebook, video or audio. The good thing is that you don’t have to write the report (if you are not good at writing).
You can outsource the writing on Fiverr, buy master resell rights or private label rights books (if the information exists there), rewrite and rebrand to your choice, and sell.
20. Affiliate Marketing
Affiliate marketing is a great online business model that has made many millionaires. This online business model is one of the best as it doesn’t require you to create your own products.
Affiliate marketing is all about helping other businesses to sell their own products in exchange for a commission.
Many foreign businesses approve affiliates to market their products regardless of country and you can too. However, some require you to have some experience in the business.
The products you can sell can either be physical or digital.
Here in Nigeria, you can promote physical products as an affiliate by registering as an affiliate on Jumia. And you can sell digital products as an affiliate by registering as an affiliate on expatnaire.
See my full class on affiliate marketing listing affiliate programs you can join that can accept you even as a beginner (both foreign and Nigerian affiliate programs)
You can join as many affiliate programs as you wish and promote your products via social media, or by creating blogs where you can write and promote these products.
21. Social Media Marketing
Social media has become an important tool to increase the visibility and profitability of businesses.
Some forward-thinking companies have social media strategy as an internal function, while others outsource it. There is a growing demand for social media strategy and development professionals.
With this business skill, you can use Facebook, Twitter, LinkedIn, and other social platforms to sell products and services. You can also offer the social media marketing service to individuals, corporate organizations, and SMEs that are eager to get into the digital marketing world and make money.
You can check this out on how to make money on Facebook.
22. SEO Services and Consulting
SEO, also known as search engine marketing, is a major part of digital marketing that specializes in making websites rank high on search engine results thereby getting more traffic or visitors from organic search.
Due to many businesses going online and opening websites, there is a rise in the demand for SEO experts to help these websites to rank and start getting more visitors from search engines.
If you have this skill, you can definitely make money with it both locally and internationally. Locally, you can advertise to your friends and on your social accounts, and internationally, you can freelance on Fiverr and Freelancer.
Nigeria is picking interest in various online ecommerce platforms and it could be the right time to start your own niche ecommerce site. If you already have some goods you are selling locally, you could create an ecommerce store and also sell them on your online store.
Your ecommerce site doesn’t need to be as big as Jumia to function well.
24. Mini Importation
The mini importation business is now a booming business in Nigeria. Nigerians are now waking up to learn that they don’t need to have billions to become an importer.
Many people have found success by importing goods online via eCommerce sites such as Aliexpress DHgate and Alibaba. You can start this business with as little as N100,000.
All you need to do is to identify people’s demands. Find all available eCommerce sites and contact a procurement agent to buy these items. They will then ship them to you.
Despite the declining value of the Naira people involved in this business continue to smile at the bank. You can import many items including mobile phone accessories, cosmetics, and fashion items.
Download this FREE Mini Importation guide to learn everything you need to know about Mini Importation.
25. Online Foreign Exchange
There is a growing number of webmasters in Nigeria and as such a growing need to purchase dollars or sell dollars earn from various online activities.
Nigerian banks don’t accept to sell dollars but will ask you to buy from the black market and bring for them. This means that for years now, you need to go to the black market to buy your dollars. However, you can fill this gap by becoming an online foreign exchanger and reduce the stress of visiting black market sellers.
You can decide to sell different kinds of funds from different sources – you can sell from the domiciliary account or PayPal, or skrill or Payoneer, or perfect money.
Check Out: How to Open a Domiciliary Account In Nigeria
26. Crypto Trading
Although banned in Nigeria, a lot of youngsters are making it big with trading of cryptocurrency. This is a high risk investment and one that you must have to be well trained before risking your money in.
Check Out: 17 Online Business Ideas That Pays Well
27. Forex Trading
Forex trading is similar to crypto trading but operates quite differently. Forex trading is also a high risk business but compared to crypto, the market is calmer and you can manage the risks better than with crypto.
Before trading forex, make sure you pass through proper training and practice with your demo account before committing real money into it.
28. Printing Press
There will always be a need to print flyers, banners, customized clothes, booklets and so much more. There is just so much to print and the demand for print materials is always there. This makes it an evergreen ICT business idea to start in Nigeria.
Some of the machines are quite expensive and runs into millions. However, this is a very lucrative business to do in Nigeria.
Check Out: How to fund Your Start Up Business Idea
29. Business Center
If you are good at typing fast and have a sound knowledge of how to use the internet, you can open up a business center. There is always a need to type a letter, projects, formal documents, etc., or to register for WAEC, JAMB, Scholarship, and some job openings.
It is not as capital intensive as running a printing press and is also quite competitive these days. However, if you have a good location where there are students or a lot of civil servants, you will always have customers.
30. POS Business
POS business is now one of the fast moving business in Nigeria. With many banks encouraging more POS centers in order to reach places where banking services are not readily available, POS has become a thriving business in Nigeria.
Nigerians also love it as they can easily find a POS center close to them to perform some basic banking transactions like paying in money or withdrawing from their bank account.
Check Out: How To Start POS Business In NIgeria
AGRICULTURAL BUSINESS IDEAS IN NIGERIA
Agricultural businesses have always been in existence and yet it still is one of the most untapped business in Nigeria that can be quite profitable.
Fish farming is one of the thriving agricultural business you can do in Nigeria. And the best part is that it is even more economic than poultry. You don’t need a very large space to start it as it can be started from even a drum or old rubber tank in your house.
This business is thriving in big cities such as Lagos, Port Harcourt, Calabar, Ibadan, Enugu. However, this doesn’t mean that it doesn’t thrive even in some rural communities. You can easily rear 50 to 100 fingerlings for market size with a capital of between one hundred thousand and five hundred thousand (N100,000.-N500,000).
Nigeria has a large market for fish and fish products. If you are passionate about the business, it is certain that you will succeed in fish farming.
It is possible to start a small fishery business and grow it into a large industry. This industry includes the production and sale of fish feeds, brooding fingerlings, and selling fish. You can build a fish pond on a small scale by starting with an underground tank.
32. Rice farming Business
Rice is one of our most common foods. Rice farming has become one of the fastest growing business ideas, thanks to the ban on rice importation from Nigeria. Nigeria is a major market for rice.
It can be run in both rural and suburban areas. Although the business requires a lot of capital, it is very lucrative. A bushel can be as small as 40 pounds and cost as much as seven thousand five hundred Nigerian Naira (N7500).
Swamps are the most suitable land for rice farming. There are many such lands in Ebonyi State, Abia State, some of Anambra State and Benue State.
Rice farming can be started and grown into a rice-milling business. The ban on foreign rice imports has led to a rise in the Nigerian rice milling industry.
33. Snail Rearing Business
Snail farming refers to the raising of snails for both food and pharmaceutical purposes. This business can be started in your backyard. The secret millionaire business of snail farming is one that you can start from your backyard. In big cities, businesses are selling quickly. Selling snail meat can bring in a lot of income in big cities such as Abuja, Lagos, and Onitsha.
You can start a snail farm with little capital, especially if your home is in a rural location. You can easily raise wild snails in rural areas by using bushes and composites. If you live in an urban area or town, high-breed snails can be purchased from the market to rear.
The snail industry is one of the Agricultural Sectors that have not been fully exploited in Nigeria. The traditional or conservative method of snail raising is still being used.
34. Tomato Farming Business
The best cash-chain investment opportunity in Nigeria is agriculture. This business is both rewarding and affordable to start.
Before you open a tomatoes business in Nigeria you will need to know what kind of tomatoes are in high demand. You can get this information from suppliers of seeds. They will be better equipped to tell you about the demand for particular varieties.
They will also let you know which varieties are most popular. It is important to make sure that the seeds you choose grow well.
35. Pig farming Business
Pig farming is the process of raising and breeding domestic pigs for and selling them for human consumption. Pig farming is one of the top business in Nigeria in the agricultural sector that requires little capital. You can start a piggery with just one or two females pigs for around forty thousand naira each (N40,000).
The Piggery business has a high profit margin. A single pig can give rise to approximately 8-12 piglets. These can then be raised and sold at a market price of 40 thousand Naira. You will make about four hundred thousand Naira (N400,000) if you have 10 surviving piglets. This makes piggery profitable.
Because of its profitability, many SMEs in Nigeria have gotten into the piggery industry. If you’re in the pig farming industry, banks can easily offer you a loan.
Start pig farming with just one or two females, and then grow your piggery to a large piggery business in Nigeria.
36. Vegetable farming
One of the most profitable low-capital businesses is vegetable farming. It is more profitable in dry seasons than during the rainy season in Nigeria. If you have sufficient garden land and water sources for irrigation, vegetable farming can be started in your backyard.
Five to ten thousand Nigerian naira (N5000 to N10000) is enough to start a vegetable farm.
To succeed in vegetable farming, you will need fertile soil, insecticides, and viable seeds. The dry season is the best time to make money in vegetable farming.
It is possible to start a small scale vegetable farming operation in your backyard. Then, you can grow it into a commercially mechanized farm.
37. Garden Egg farming
The north, as well as other parts of Nigeria, are seeing a rapid increase in demand for garden egg farming. You can grow many varieties of garden eggs.
Garden Egg is a very resilient plant that thrives in Northern Nigeria and the Middle belt. If you live in Jos, Makurdi, or Kogi, Garden Egg is a great choice.
Once you have a garden, or land to cultivate the eggs, your capital investment is minimal. Like vegetable farming, viable seeds, insecticides, and fertile soil are essential to your success.
Garden farming can be started on a small scale, and you can grow it into a large commercial garden farm.
38. Poultry farming
Poultry farming can be a profitable business that you can start with very little capital. Poultry farming can be done from your home or backyard. Poultry farming is a great option in areas like Jos, Enugu, and Makurdi, where the climate is favorable.
Depending on the start-up stage, capital requirements may vary. You can easily rear 50 birds with a capital of 50 thousand to 200 000 naira (N500,000-N200,000) and a minimum of 2 weeks.
The Nigerian poultry industry is home to the second-largest African chicken population, after South Africa. Nigeria has a huge market for poultry products. The market is open to you, restaurants, confectioneries, and other businesses.
It is possible to start a poultry business with very few broilers, and grow it into a large poultry industry. This industry includes hatchery of chicken eggs, raising layers, and production of poultry feeds.
39. Palm Plantation
Palm trees are one of the richest trees in the world with almost every part of them being quite useful in one way or the other. Starting a palm plantation requires a large expanse of land and if you already have some land in your village, then it would be easy to start.
You can decide to sell the palm fruits to palm oil millers or start your own oil mill to produce the palm oil.
40. Banana and Plantain Plantation
The price of bananas and plantains keeps increasing by the day due to high demand. As such, this could be a very lucrative business for you to start. If you already have some land in your village or where you are located, then it will be easier for you to start a banana and plantain plantation.
This is a very lucrative business in Nigeria.
41. Honey Business (Bee Farming)
Honey is an ancient sweetener and also has medicinal properties. As a result, the demand for honey is always high. You can start a bee farm if you are not afraid of bees and have the space to grow your honey bees without disturbing the neighborhood.
Not everyone can do this business and it is a business that requires skilled training also.
As an alternative, you can buy directly from the bee farmers or wholesalers in gallons and resale in smaller quantities.
RENTAL BUSINESS IDEAS IN NIGERIA
42. Chair and Table rentals
This is the most used form of rental service in Nigeria. This is because Nigerians are ceremonial people. Every weekend there are events or occasions. These events could include birthdays, graduations, awards ceremonies, engagements, wedding ceremonies, meetings and conferences, family reunions, etc. For any event, chairs and tables are indispensable.
It is cheaper to rent tables and chairs than buy them. A rental business in Nigeria is a great business idea. It is possible to start a rental company for tables and chairs and also offer your services as an event planner.
43. Tambourine/Canopy Rentals
This can be done together with the chair and table rentals or as a separate business. It is also a business that is dependent on the outdoor ceremonies people perform. Most outdoor ceremonies require the canopy in other to protect the attendees from the weather – either from sun or rain.
This business can be quite capital intensive and would most times need a form of mobility – a small truck to convey the canopies to and fro the ceremonial ground.
44. Wedding Gowns and Accessories Rentals
Weddings happen mostly once in a lifetime. As such, most ladies prefer to rent the wedding gown and accessories since wedding gowns can’t be worn as a day to day clothing after the wedding. Most people who go into this business most times combine it with makeup, cake making, and decoration.
45. Car Rental services
Renting a car is a viable business idea, especially in crowded areas. Many people are able to drive, but can’t afford to buy a car.
These people rent cars from car rental companies when they need them for special occasions or to go on errands. You can also rent special vehicles like trucks, cranes, and ambulances through car rentals. These vehicles can be rented to companies and individuals who do not have the funds to purchase or maintain them. This is why we are seeing a decline in car sales and the automobile sales industry. Many people believe that car rental services are a better business option.
46. Rental Properties
Real estate has always and will always be a booming and lucrative business. Although this business is highly capital intensive, you can still venture into it if you have the capital. It entails buying and developing office spaces and homes and then lease or rent them out on either short or long term lease.
47. Projector rental business
Projectors are used by many individuals, businesses, and organizations for presentations at work, church, or other social events. Multimedia projectors are expensive but worthwhile investments. Many people who wish to use projectors can’t afford them. You must understand pricing in order to set the right prices when you start this business. Renting projectors is a great way to make some extra money.
48. Motion Picture and Theatrical Equipment Hire
Equipment is a key component of the film and theatre industries. Organizers of theatre performances must use props and equipment to pull off live performances and motion pictures. Many people cannot afford to rent the equipment and settings required for motion pictures. The rental of theatrical equipment is a viable business. These types of artists often don’t have all the equipment that they need to complete their projects. They must rent equipment to produce high-quality videos.
49. Rent tools and equipment
Equipment and tools used in construction, home maintenance, and farming are often rented. This equipment includes tractors, mowers, tillers, washers, portable toilet units, and others. Although they are very capital intensive, they are quite profitable.
50. Rent costumes and wearables
Renting clothes for events like wedding ceremonies, engagement ceremonies, and gala nights or dinners is a common requirement. If you have fashionable clothing that people are interested in renting, you can get into the fashion industry. You can also rent costumes to be used on stage and in movies.
51. Camera and Accessories Rental Business
High-quality cameras are quite expensive. As such, a rental business in camera and accessory rentals requires substantial capital to be able to offer great services. You would get a higher value for your equipment and better pay. You must consider how to maintain these items when you start a business. This is essential to ensure that your clients receive durable and high-quality products.
TRANSPORTATION BUSINESS IDEAS IN NIGERIA
Many people ask, “What business can I start with 2 million Naira?” If this is you, then you might want to consider Uber. Uber drivers choose Uber for many reasons.
Others do it because they can drive wherever and whenever they want. They are their own boss and can work as much or as little as they like, according to their schedule. Uber drivers average between 80,000 and 120,000 Naira per week.
Uber driving is a very profitable business idea in Lagos and other parts of Nigeria right now. You can work whenever you like, even on weekends and nights, and you can also make extra money while you do it. Some drivers work full-time while others only drive at night after their day jobs and weekends.
53. Taxi Service
Taxis are traditional cabs and are often painted one colour. You can find them in taxi parks. They depend on customers coming to them or going out to find customers.
Although uber-like services are slowly replacing traditional taxi services in many cities worldwide, taxis are still the norm in many other cities.
If you are a good driver and have a car that can easily be registered as a cab, you might be able to start a taxi service.
54. KEKE NAPEP
With the ban of motorcycles or motorbikes, tricycle transport services came to stay. Tricycles in Nigeria are commonly known as Keke NAPEP. They are mostly painted to a certain chosen color depending on the city – mostly yellow or green.
Although it can only carry 4 passengers, one can easily make between 5000 to 12000 depending on location and how active you are. If you have the capital, you can buy and drive it yourself or give it out on hire-purchase. Whichever way, you still gain.
Buses operate similar to Keke Napep and are a major means of transportation in many big cities. Whether you have a mini 7-seater bus or a full 14 seater bus, you stand to make a lot of profit with this business. You can either buy the bus or look for someone who wants to give his own out on hire purchase.
56. Courier Service:
Courier services are gaining more ground and value as it becomes increasingly difficult to send products to remote areas of the country. This makes it one of the emerging business in Nigeria with potential.
E-commerce has increased the income of courier firms as online shops offer more attractive packages such as same-day delivery and a money-back guarantee, which in turn drives up the number of orders they receive.
It is possible to take advantage of the need for people and businesses to send goods to different parts of the country at the lowest cost and most quickly possible to set up a courier business with outposts throughout the country.
This will allow you to tap into a market that is very underserved. The services and benefits you offer to get people and companies to patronize your service will determine the success of your business.
57. Vehicle Repair & Maintenance:
Each vehicle must be taken in for maintenance at some point. Because mechanic workshops are always needed, they continue to thrive.
A mechanic shop could be set up in an area where there isn’t easy access. You can either get the skill yourself or hire the best mechanics to work for you.
58. Car wash
Car washing will continue to be a necessity. Anyone can run this business, regardless of their age.
You can set up a sitting area with a TV and allow your customers to sit while they wash their cars.
If you have the space, you can turn it into a multi-income stream business by selling drinks, shawarma, and other items in the sitting area.
All you need is an empty space, a water supply, and a car washing machine.
FOOD PROCESSING BUSINESS IDEAS IN NIGERIA
59. Garri Manufacturing
Garri is one of the most popular food production business ideas in Nigeria and West Africa. It is a staple meal that is also a popular choice for rice.
Garri, which is similar to fufu, is made from cassava tubers. After the tubers have been peeled, they are washed and ground. Then, it is sieved and deep-fried. The tubers are then packaged and sold.
Garri processing equipment includes a presser, grater, fryers, etc.
60. Plantain Chips Sales and Production
Plantain chips are a great sight at most traffic spots. It’s a delicious, crunchy snack made of unripe plantain. They are sold by hawkers along the highways. It is a very lucrative business in Nigeria, but you may not have realized it.
To be involved in the Nigerian plantain chip industry, you don’t have to be a professional at food making or register a company.
This can be done right in your kitchen. You just need to place your brand name onto the transparent nylon and you are good to go. You will need to receive coaching from an experienced business person, learn some recipes, and create a supply chain for both your raw materials (plantain) and finished products.
An N10,000 per day profit margin is possible for a small plantain chip business with an initial investment of fifty thousand. If you’re looking for business ideas in Nigeria with low capital, you should really consider this. This type of business can be started with as little as 5,000.
61. Shea Butter
Shea butter is highly sought after and is a great product. It is a highly promising product that sells well on the international market. There are many opportunities in its production value chain, producing on a small or medium scale and on a larger to meet growing demand.
Shea butter from Nigeria is becoming more popular for its use in the cosmetics and pharmaceutical industries. However, it is not in plentiful supply because most of it is made by local women using crude and labor-intensive methods.
The large-scale processing of shea butter will be profitable and will create an opportunity for government support. It will also provide employment opportunities for the teeming youths.
Cosmetic companies are showing strong interest in this product due to the growing demand for natural products that are gentle on the skin.
62. Production of Yam Flour
People prefer to make their pounded Yam Meal from Yam Flour, rather than pounding cooked yams. Fast fading is the era when African men demanded that their wives pound yams every night for dinner.
Entrepreneurs can now venture into the yam-flour business. The amount of capital available will determine the scale of investment. It is easy to start a yam flour company.
To buy large quantities of raw yams, you will need to have a capital of around N40,000 at the smallest level. Cut the yams into small pieces and dry them in the sun. Then, you will take the yams to a grinder engine to grind it into flour. Next, package it and sell it.
63. Bean Flour Production
Bean flour is preferred by most people for moi-moi or akara. Bean flour can only be made if you have beans. You can start with about 10 buckets of beans. Then, wash the beans and dry them. You may need to put a label inside the package of bean flour to help build a brand.
BUYING AND SELLING BUSINESS
64. Sell mobile phone accessories
The mobile phone industry is a booming industry and has come to stay. This makes this a highly lucrative business idea in Nigeria today because almost everyone grown man or woman has a phone (some even 2 or 3).
On a local scale, with as little as N50,000, you are good to go. And if you have the capital, you can rent a space or shop. But then, if you don’t mind, you can do the business mobile. You can get a wheel truck, package it well and move it to a busy junction.
On a more packaged level, you can decide to supply an accessory to retail sellers. You can partner with major dealers like this Oraimo in Nigeria so that you will gain more acceptance from people who already know about the brand and still make profits since you will get it at the cheapest price from the company.
Commonly in-demand accessories include batteries, memory cards, battery chargers, and earpieces.
If you are selling retail yourself, you can buy from Computer Village (Lagos), or Mobile accessory companies like Oraimo can provide supplies. You can also import the accessories online.
65. Recharge Card Business
This is a popular small business in Nigeria. I don’t advise you do this as a full business but as a side hustle. You can run it physically or digitally.
If you will run it physically, you will need space where people will come to buy. If you run it digitally, you will need to recharge people’s numbers virtually.
Check Out: Best Online Investment Platforms In Nigeria
66. Sale Of Fairly Used Clothing
This business is popularly known as “Okrika” or “Bale” business. And deals on buying and selling of fairly used clothing.
Because Nigeria has a poor economy, a lot of average Nigerians cannot afford to buy brand new clothing. A Nigerian average income earner rarely visits the boutique to purchase first-grade clothing.
As such many opt to buy these fairly used clothing. The business thrives anywhere you are, both in big cities and rural areas. This is because people will still have the need to buy new clothes.
This business requires startup capital that can vary depending on how big you want to go, but you can start with between N100,000 to N200000.
67. Hair Salon
Whether male or female, if you think you can pull off making ladies and men’s hair, then this could be an easy money-making business for you.
First, you will have to learn the skill under someone who is really good at it because that can determine how good you become too. Women will always make their hair and some men are joining the trend too. So this is a business that will never go out of style. Even more, you can start on a small scale too. You may not even need a shop if you can’t afford it. All you need is to tell your friends and advertise it and you could go to people’s homes to make their hair.
68. Football Viewing Center
Sports is a big industry in the whole world and Nigeria is not left out. Almost every young and middle-aged man in Nigeria is a sports fanatic. Many women are too. And the thing about watching football is that most guys prefer to go outside to watch it even though they may have their own DSTV at home.
This is why football viewing centers will always be a good business. This business can work anywhere as long as people live around there and the road is motorable. You can even add drinks and dry meat or snacks as an addon to make more money.
A lot of young and middle aged people want to take extra care of their skin to look younger and fresher. Those who will likely patronize this business are the wealthy and that is why this business will be capital intensive. This is because you have to get a good location for it, furnish it to taste, and maintain good hygiene due to the nature of people that will likely patronize you. This business also will do better in big cities where these wealthy class of people resides.
Once you have a good location in a big city, furnish the place to taste and have all the necessary equipment and some trained staff, you will be good to go.
70. Restaurant/Mobile Food Business
This is a question you should ask yourself: What sells fast in Nigerian? Food is a primary need of every human being. No matter what his condition, food is essential for survival. The food industry will continue to be a profitable business in Nigeria. It is one of the most successful businesses in Nigeria.
Opening a restaurant will definitely pay off, although it will be more capital intensive. This is because you will need to rent a good space, furnish and buy a lot of cooking utensils, fridge, microwave, tables, and chairs, etc.
As an alternative, if you don’t have the capital, you can choose to cook and serve workers of big organizations like schools, oil and gas companies, and multinational organizations and develop a relationship with their HR departments to allow you to bring your food during their lunch or within specific hours of the day.
Even if you sell your food by a junction on a wheel truck, you will still make your money because no matter how hard things are, people must eat to sustain themselves.
71. Fashion Designing
Fashion design is a business that deals with designing and making clothes. It is one of the very profitable local business ideas in Nigeria to make money with. However, this business is for the skilled. As a result, the first step towards your success in this business is to learn fashion designing skills. All you need to do is to choose which kind of clothes you want to focus on – senator wears, English suit, women gowns, etc.
Then you find a good designer that already makes what you want to learn and apprentice under the designer.
Once you are through with learning, you will need a sewing machine. You could go for a manual or electric machine depending on which one you feel more comfortable working with.
I know of many graduates who have ventured into this business and are doing well. All you need is determination and a bit of creativity.
72. Dry Cleaning
With most Nigerians, hustling to make ends meet, not many have the time to do their own laundry. This has given rise to many looking for dry cleaners to help them out in this regard. And, this makes it a good business idea right now in Nigeria.
Many people have succeeded in this industry and are still doing well. All you need to start is a good location, a washing machine, and a generator.
73. Gym Business
The issue of fitness has been a concern for many people, including Nigerians. The high incidence of heart problems continues to decimate people. There are people who have lost their lives to heart failure or obesity, which would not be if they took exercise seriously.
Aside from health benefits, there is also an issue of psychological benefits when you regain your self-confidence as you gain back the body of your dreams through exercise.
With many ladies looking for a killer figure and men looking for six-pack, and strong muscles, you can be sure of a good business.
You can start a gym in Nigeria if you are a health and fitness enthusiast. However, it is not a small feat because this business can cost you millions as gym equipment are expensive.
74. Sports Betting Centers
The sports betting industry in Nigeria is at its peak. Sports betting centers is a great way to make money. Sports betting center is one of the lucrative business opportunities in Nigeria, as both the old and young enjoy the game of football while making money.
This is also why there has been an increase in the number of bookmakers and sport betting companies. Agents are needed to communicate with the players. A neat space for your office (a shop will work), a generator and a computer with a printer, an internet connection, and a fixtures board will be required.
The next step is to sign an agency agreement. You can make money with some companies in two ways: virtual and board games, as well as deposits you make for your customers. You can make a living in this industry and smile at the bank with N250,000.
75. Egg supply and distribution
Eggs are used for many purposes, including their nutritional needs.
The supply of eggs is one of the small scale business in Nigeria that you can start small and grow into a large enterprise. First, you need to find quality egg producers and large distributors if you are interested in this business.
Next, create a network that includes buyers from all walks of your neighborhood. You will need empty egg cartons and a van to deliver your eggs. This business can be started with as low as N150,000. However, depending on how you plan it, it could be higher or lower.
This is our list of business ideas in Nigeria that we believe can be profitable to do in Nigeria. Do you have friends who might be considering what business to do in Nigeria? Share this post with them and you might just be helping someone out.