Are you a graduate who is looking for Lucrative business ideas in Nigeria to start, so you stop being dependent on your parents or guardians who already have invested enough just to see you through the four walls of university?
Or are you the type who really doesn’t fancy white-collar jobs, and wants to be the boss of yourself; just like me?
You just found that knowledge to change your financial status from where it is right now to a higher level.
I must start this article by telling you; “whoever told you that Nigeria is not a place where you can make it, is lying to you.”
I strictly advise you to tell that person to either stop saying it to you or end that relationship with the person because there is power in words.
All poor persons have this mindset in common;
- Life is Hard
- I can’t make it
- Am helpless and hopeless
- And the negative words go on and on…..
They live a life full of negativity. So I advise you before you read this article you, first of all, say to yourself these words.
- Life is easy
- I am a great man with great potential
- I will succeed in everything I find myself doing
- Nothing is hard for me to do and achieve not even in Nigeria
- I will Succeed in Nigeria.
Welcome once more to a life-changing article. I was once like you looking for articles to read on lucrative business ideas in Nigeria.
But the result I got from Google wasn’t really what I wanted to read about because they were mostly above my capital.
And the ones below my capital weren’t really of any interest to me.
[Tweet “I believe that when you do what you love, you find higher levels of satisfaction that can compensate for lower income. ~Adam Neumann”]
If at least one of the questions below is what you seeking answers for, then you are at the right place.
- What are the most profitable businesses in Nigeria?
- Small business Ideas with big profit in Nigeria?
- Business ideas in Nigeria that require low capital?
- Best business ideas for a graduate in Nigeria?
- List of business ideas that require low capital in Nigeria?
- Good Business Ideas in Nigeria?
- And many more…
Like I told my friends back then in school (university); “I don’t see myself working under someone, and even if I do, it can’t be for long.”
Matter of fact I have been a hustler right from when I was done with secondary school and I have worked with so many people. The longest job I stayed in was 3 months.
That was because I saw the job as fun and I had like 3 friends there who I knew from home.
But for the shortest time have worked, that will be close to 6 days. I simply told the guy in charge I wasn’t interested anymore.
Don’t say I am lazy because am not. It is just that I got tired of the job.
But something is more fun when it comes to making money. Being the Boss!
I am not telling you working for someone is something you should never do.
In fact, it is vital you have work experience because that will also help you when you are starting us.
I am the boss of myself, and I enjoy every bit of it; mostly when I am calculating my monthly profit at the end of the month, it gives me a unique satisfaction I can’t explain.
In this article, I will be showing you 16 profitably hot business ideas you can start in Nigeria with low capital that will make your bank manager recognize your presence at the bank, (everybody wants that).
For every Productive business idea I will be listing in this article, please do your own personal research for better understanding before you finally make up your mind.
And if you have any questions about any of the below business ideas remember to drop them in the comment section.
Table of Contents
1. Personal Trainer
Yes, personal training. I know is the least considered business in your mind, because you think (not that you know) it doesn’t have demands.
But what you don’t know is, a lot of people are looking for where they can burn out fat, look muscular and sexy.
Personal training is one of the fastest-growing businesses in Nigeria. And also one of the easiest businesses because you can also do other business along with it.
And is a business that has demand for both sex (male and female).
But what does it take to start a personal training business in Nigeria and how do you create awareness?
It doesn’t take much to start a personal training business and for the demands, trust me is huge because the supply is low.
Things needed in this business
- You must be a work out Junkie
- Have your workout kits
- Have a place that you use for your training.
Having a place where you do your work out, necessarily doesn’t have to be a gym, but if you can rent out a gym it will be an advantage.
If you look at people who are involved in personal training, you will notice they do have like 20 or more persons who they train (excluding their home service).
These trainees do sign up for like N5000 or more. in fact, I remember being charged 10k every month from a public gym instructor.
And some persons may decide to pay per training session, which could be N500 or above.
Now let’s assume you have 20 trainees. 20 x 5000 =100,000
That’s a cool income per month for a start. And be rest assured, the more you continue the more the profit increases.
And for those who would prefer home services, definitely, their fee will be extra.
4. Mobile Camera Phone to shoot workout videos (very important for promotion)
5. You must promote your business through social ads/fliers.
Read More: How to be a successful Fitness Trainer
Estimated Cost of Items
- Skipping Rope : 2000 x 5 =N10,000
- Mobile Camera Phone: use the one you have
- Workout Space: Average N10,000/N20,000 per month.
- Social Media Ads/ fliers =N10,000 (please make sure you know how to target the right persons through social media ads because one right person could bring 3 extra interested persons)
With just 40,000 you become the boss of yourself
2. Daycare Services
There are babies everywhere and there are few who render this service.
In my area, for instance, there is only one daycare service which is done in a flat.
And it is not like the daycare has been around for long, they just started not quite long and already babies, I mean babies in large numbers are already in the day center.
Trust me when I say this is one of the businesses that will never go out of existence and will continue to attract high demand.
No parents want to be idle parents or a housewife, not in this fast-growing time where everyone is busy making ends meet.
But before you make up your mind to start this type of business, you must have these personal traits;
- Must be a lover of children
- Must be the patient type (children are naturally stubborn)?
- Very slow to anger (you dare not beat up someone else’s child, except you ready to sleep at the police station or even worse?)
If you can answer those questions correctly then you are almost good to go.
Let say you have a one-bedroom apartment, you can convert your sitting room to the daycare center.
All you just have to do is to decorate the sitting room with what fascinates children. I guess you know what I mean.
The truth is, 90% of all the big daycare centers you see today, started like this; one room. All that matters is that you have the mindset of business growth.
Most importantly, make sure you have a clean environment because no one, I repeat, no one will leave their children in a dirty and unhealthy place.
Items Needed to Start a Daycare Center
- Decorations/stickers i.e Numbers, Alphabets, Fruits, Animals,
- Padded/Soft floor (Rug) to prevent certain injuries
- Big round (plastic) table (x3), Plastic chairs (x12-15) for those kids that are old enough to seat, and some toys.
- Create Awareness – Print fliers and social media
Cost Estimate of starting a Daycare Center
- Decoration/Stickers =N20,000
- Rug =N15,000
- Tables, Chair,s and some toys =N30,000 -N40,000
- Create Awareness =Word of mouth….. approach homes in the neighborhood and let them know, & print Fliers/Social media ads= N10,000
3. Laundry Services
This business has a very large market that people seem to undermine because they feel because they have all the time to wash their clothes, other people do too.
But the truth is, most people (especially the working class) find it difficult to think, let alone wash their clothes.
Do you think someone who leaves the house as early as 6 am, and comes back at 7 pm will have the time to sit and wash his or her clothes? Not possible
The market for this business is not just large is extremely large as long as you keep rendering quality service you will definitely have consistent soaring demands.
Items Needed to Start a Laundry Business
- Buckets, Basins, and Brush are supposedly already available at home.
- 6KG manual washing machine with a spin area (for a start)
- Iron you might already have/ Steam iron maybe
- Table for ironing and fabric sheet to pad up the table (available bed sheets could be converted for this)
Cost Estimate for starting a Laundry Service
- Buckets/basins = Already available in your house
- Washing Machine =35,000 -45,000
- Iron =Already Have or N5,000 for regular/ N15,000 for steam iron
- Table & Fabric Sheets =Should already have at home/ N8,000
- Create Awareness =Word of mouth (approach homes in the neighborhood and let them know & Print fliers/ Social Media ads= N10,000)
Total = N78,000
Don’t be surprised because I didn’t add soaps and nylon for packaging, that’s because those are minor stuff.
And talking about which place to use, you can start with your house then as more money comes in you can expand to having an office space.
In fact, I have a friend who started laundry back in school from his apartment today he has an office for it.
So just work with the estimated budget and become the boss of yourself.
But before you start read through this comprehensive article on the Laundry business in Nigeria.
4. Perfume Oil
These are oils that give out nice fragrances.
The market for this business is actually a big one because so many people wish to have the smell of expensive perfume on them, but because their pocket is not deep enough to cough out the money they are disappointed, and looking for an alternative.
That’s where perfume oil comes in, to satisfy that need.
Imagine you smelling the same as someone who bought a perfume worth over N50,000 for something you got for N1,000 or even below. Crazy right?
And the amazing thing is, it smells on you for as long as it is still on you. And you can still smell it even after washing your clothes.
Unlike other businesses, you can start a perfume business with as low as N6,000 which is for the 3ml bottle size.
There are other ml bottle sizes like 6ml, 12ml, and so on. But we shall be using the 3ml bottles which are sold for N6,000 budget.
The N6,000 package comes with 12 bottles. You can sell each for a minimum of N1,000 which will give you a 100% profit.
You could even go as low as N800 per bottle which will be 80% profit in return.
Or even below N800 and still, get a good return.
It is easy to find buyers for this kind of business.
If you are someone who already has or knows a large number of persons, this N6,000 package won’t even take you up to a week to finish in your first sales.
And as more persons begin to patronize you, I advise you to go bigger (Buying in bulk) because that’s where you definitely going to be making a huge profit.
Also when you buy in bulk discounts are always given.
One last thing, make sure the person supplying you with the perfume oil, supplies you with pure perfume oil (very important).
You don’t want your customers complaining about your products being inferior, that’s the last thing you need doing this or any business at all because returning customers are what makes your business grow.
So look for a supplier who already has a good remark doing this business.
Read More: How to Start a Perfume Business from Scratch
5. Online Photo Selling
What kind of business is this and how possible is this business?
I know those questions are running through your mind.
And thank God you found this article because today you will know that your camera can bring you a great income.
You don’t necessarily need to have an advanced Camera worth 10 million nairas, or an iPhone 7 Max pro. Your android phone can do the job perfectly well.
All you just need to do is to look for perfect scenes (which are everywhere) you snap and put them on platforms where images are being bought.
Naturally, people who buy such images use them in their books, in a play or movies, or in other pictures-related stuff.
There are several platforms, which you can google on your own. But I will just give you two platforms you can check out;
Talking about startup capital, you can start with as low as nothing N0. Yes Zero (0) naira, all needed is just your phone.
So make sure you sign up on those platforms and start uploading.
6. Blogging/ Vlogging
One thing I love about online business is that it never expires.
A write-up or video content from 2years ago can still be giving you money. I love online business!
But I am not telling you to go open a blog or Vlog and just put one piece of content there hoping it will bring money, it won’t.
There are guidelines for this blogging and Vlogging. Two(2) important and do without guidelines are;
- Original content
Other guidelines play an important role in being ranked higher in SEO (Search Engine Optimization), but the two I just mentioned above are what guarantee that you are going to be recognized on their SEO.
For blogging all you need to do is to get a domain name, register it and decide if you are to use WordPress (which will cost extra money) or use the Blogger platform (absolutely free).
Any of the platforms you chose to host, you are good to go.
For the Vlog which is YouTube, you can simply place your phone on a tripod (if you have one) and video yourself. You don’t necessarily have to spend anything else.
Like I said at the beginning of this article you can further go in search of deeper knowledge if you are interested in any of these online businesses.
I’m into this online business, so if you are interested, you can always ask me your questions in the comments section
Read More: How to start a blogging business
7. Taxi Services
Transportation is not just a good business to look into, it is a very good business anyone who wishes to make money should look into.
One amazing thing about transportation is; just like salt, food, and water can’t go out of business, so transportation can’t go out of business that’s because people always move.
Thanks to Uber, Bolt(Taxify), and others who now make it easier for tax drivers to locate their customers without just driving and hoping someone stops them.
These online service providers are what anyone who intends to make money should join because you will never look for nor lack customers.
I remember trying to book a ride on Uber, I was plainly told that there were no available drivers. “Not because they don’t have drivers, but because all their drivers were presently occupied.”
Trust me when I say Uber got over 100 users in each city in Nigeria, yet none was available.
Before a taxi driver drops one, he receives a huge line of passengers looking for a ride.
These drivers make a good profit per day. An average of N30,000 per day is what taxi drivers make a day
What you need for this business is Just a Car.
But in a case where you don’t have a car but know how to drive (definitely you must know how to drive), these companies, Bolt, uber, and others do give cars out to those who are interested.
But these companies will have to deduct a higher percentage from your daily revenue, unlike if it was your car you were using.
To know more about the cab business click here: Cab Taxi Business in Nigeria
Tailoring is one luxurious business at the moment, and it doesn’t seem to be going down any time soon.
The number one thing that is needed in this business is that you are good at your craft.
Bad services render will never attract potential customers that have the money to pay, “you know what I mean”.
In this business, the reason why many fail or find it difficult to grow is that they want to do all the customers’ work themselves, which is absolutely wrong.
If really you plan to succeed in this business, you must have workers and also have someone or persons who can be your model.
For the sake of this article, I won’t advise you to go for those known models, because they might charge you high and at the end of the day, you will end up spending all your budget on models.
So use your relatives, friends (who you know can be willing), and Family.
I believe you’ve heard of Yomi Casual. You definitely have.
In the past, Yomi was just an ordinary tailor by the roadside, but today, Yomi is more than just a tailor, he is a celebrity in the business.
He started just like the way I am telling you now, You must be good at your craft, you must have workers who sew for you, and a model.
In his case, AY Mayorkun popularly known in the comedy business in Nigeria as “AY” a brother to Yomi, was the model used by Yomi to showcase his craft.
I know what you thinking; “AY is already popular, I guess that’s why he got his popularity fast and became a top celebrity tailor”
That’s not true. Before AY became a household name in Nigeria, he was already a model to Yomi Casual.
So start with people around you, mostly those that are active on social media, and I assure you the more you keep showcasing your excellent craftiness, the more popular you become and of course more money.
All you need to start this business is just your sewing machine, your drawing book for design sketching, and sample materials you can use for your models.
In total, your cost shouldn’t be more than 100,000 naira
To promote yourself faster you can also make use of social media ads.
And remember people are desperate to spend whatever it takes just to look good.
Read More: How to Start a Fashion Business in Nigeria
9. POS Services
This is the new bomb in Town when it comes to looking for a lucrative business that pays with comfort.
Before you think of choosing this business, you must know that there are two types of Pos;
- Merchant POS
- Agency POS
Only a Few banks will tell you that, some won’t tell you.
The Merchant POS is for Business owners who want their customers to pay via card in cases where cash is not available, or is not enough.
The Agency POS is the POS that you need in this business.
The disadvantage of the merchant POS is, all the money transacted a day reflects after 24 hours, but for the Agency, it reflects immediately.
In this Pos business, you can make as low as 10k a day. I used low there to tell you some persons actually make over 10k every day.
Do the maths in your head, 10k x 30days =300,000
Yeah, don’t be surprised that is how much you can make in a month if you locate your business in the right location (far from ATMs and Banks but in a crowded residential area).
This is the kind of business that you find mostly in rural areas.
That necessary doesn’t mean those who locate theirs in the urban areas don’t make it, they do, but those in the rural areas make it well.
But there are good locations also in the urban areas that can turn out really good in terms of monthly profit.
Those areas are where ATMs are far from.
All that is needed in this business is;
- The POS Machine (which is free in most banks but not free in a few banks, and other financial institutions like OPay, quick teller, microfinance banks, Monie Point, etc). Just look for the one that offers a more convenient charge and it won’t scare your customers away
- A shop (usually small shops; ‘like those of lottos and pool shops’) or you can beg someone to allow you to use a corner of their shops, with an agreement that you will be paying him or her a certain small amount of money every month
- Books (to document your transactions)
- Fliers for publicity
And you are good to go.
You can either create the shop with wood or rent out a small office space, whichever you deem suitable to you, you can use it.
For the Banners and fliers, N10,000 can cover that up.
No need for social ads as this type of business only require those living around you which means words of mouth publication is all that is needed.
At first, you might not be hitting the daily profit you intend to hit due to being new in the area and people don’t have trust in your services yet. Because people intend to work with trust due to how society is today.
But trust can only be attained over time, so just keep giving your customers the best treatment anytime they come around to patronize your service.
You can use a minimum of 50k as startup capital for this business.
But if you have access to bigger funds like 100k-200k, I advise you to use them. That will save you the stress and time of always going to the bank to withdraw money because you are always out of cash.
And remember to ask me questions in the comment section for more details.
- How to Start POS Business in Nigeria
- Moniepoint POS
- Opay POS
- PalmPay POS
- How much can I use to start a POS Business
10. Cooking Gas Sale
Can you count the number of people cooking every day?
And these days it is rear to see houses that use kerosene to cook.
Meaning this market is also one of the fastest-growing businesses in Nigeria.
What this business requires most is Trust
Once people know that anytime you feel their gas you don’t fill it with air instead of gas, they will definitely come to patronize you.
Don’t think they won’t know, because the time at which the gas tends to last is how they will know.
I remember waiting at a gas shop for close to an hour just to fill my gas cylinder. The reason is that the guy left his gas shop for something else.
I waited not because there weren’t other places nearby to fill Gas, but because the guy fills my gas with pure gas and the right KG.
If you choose to run this business you could also make complementary cards that you give to your customers and tell them; “in case they want you to come to pick up their gas cylinder at their place, fill it and return it back to them, they can always reach you through the complementary card”.
With this business strategy trust me you will never lack customers and you definitely charge a little bit higher for the extra self-service.
You can start this business with 2 Big cylinders or even one. As you grow you continue to add more and eventually start using the biggest cylinders found in petro stations.
What is needed for this business?
- Big Cylinder (Getting a Big Cylinder is cheap)
- Shop or a spot with an umbrella or small shade just to cover you and your customers
- Plastic chairs
- Books for recording
Most Importantly always fill the right KG.
For more on the Cooking Gas business
11. Livestock Farming
This is another important business that will always be on the list of the most thriving businesses in Nigeria.
Talking about livestock farming, I mean; catfish farming, poultry, cattle, pig, snail, goat, etc.
Livestock farming is very profitable because we eat, and people consume meat on a regular basis. Which means there is a high demand for livestock products.
But is not something you go into blindly, you have to do your personal research
This is a business that can turn your life for the better within a few months if properly done.
And is also a business that can drain your every cash if wrongly done.
So you must understand this industry well before you venture into it.
I speak from both people’s experiences have heard and from my personal experience.
Though my personal experience wasn’t livestock, it was crop farming.
Make sure you get all the rudiment before you throw money at it.
Talking about what it takes to start livestock farming. The most important is to have space (land). Which you can either buy or rent for your livestock.
As for getting your animals, it is cheap because you will be buying them from a very tender age (i don’t know if that’s the right word to use, but I know you understand the message).
Let’s say you want to go into catfish, you could even use your compound. all you need is a tarpaulin pond, something like this
One of these ponds can store as many fish as possible to bring back enough profit to make your account smile.
This you can get for as low as N2,000
You can get fingerlings for just N100 or N200 that can produce over a hundred catfish. That’s more than 100% return on investment trust me on that.
Like I said before, whichever you choose and decide to go into, make sure you go in proper research so you won’t say you read false information on Rich Nuggets that cost you all your dime.
I have a few livestock articles for you
- Snail farming
- Catfish Business
- Fish Farming
- Poultry Farming
- Goat farming
- Pig Farming
- How to Start a Farming Business in Nigeria
- Rice Business in Nigeria
12. Exportation Of Agricultural Goods
I don’t really know much about exportation but one thing I know from reading about it is, it is a very lucrative business in Nigeria.
If you intend to go into this business, you must understand that there are procedures before you can be fully certified to take your goods outside the border of Nigeria.
Procedures such as registering to be a certified exporter, and making your goods well packed to meet the Exportation Standard.
There are two ways of exporting
- You possess the goods you want to export
- You being the middle man in the business
Whichever you choose, is profitable.
But as a starter, I would advise you to become a middleman, which will make you understand the business properly and help you analyze which will be more profitable for you and less risky.
13. Car Parts Sales
Every day people fix their cars, and every day people buy car parts to fix their car or the car of someone else they bashed on the road.
Many people have taken advantage of this business mostly the eastern people and they have made a lot from this business.
I can’t really give much about this business, but one thing I can guarantee you is, you can research it and get a better understanding.
And if you have someone who is already into it, that’s a big advantage only if the person is willing to reveal the knowledge to you.
14. Car Wash
Car washing is a lucrative business that has a high demand.
Just like laundry, so the car wash business is. People will always wash their cars.
In this business, people will definitely be needed to assist you, and you can even start employing people from the first day of launching the business.
I know you are thinking: “how will you be able to pay them when you don’t know if enough revenue will be attained at the end of the first month?”
You don’t need to ask yourself that anymore, as all you have to do is, tell your workers they are going to be paid per how many cars they wash individually.
The perfect way to use this salary strategy is to make it a percentage and the most appropriate percentage is 60% and 40%
60% goes to you, and 40% to them.
Let’s do a little math so you understand.
Let’s say your least amount for washing a vehicle is N500.
60% from 500 = N300. The N300 goes into your pocket.
40% from N500= N200. it goes to your worker’s pocket.
With this strategy, you don’t need to have any monthly salary budget.
This strategy will even increase demand as it indirectly turns your workers into marketers at the same time.
The only major problem with this business is the land space.
But that, on the other hand, isn’t a problem if you looking for a land space to rent not to buy.
Because you can’t buy land in an open area without spending millions of Naira. But you can see it for rent at a cheap rate.
This business also requires you to be located in an open area that is close to a major road or better along a major road not in a hidden place that is difficult to find.
You can even make use of those petro stations that have space but are yet to have a car wash in them.
Another strategy to use in this business if you want to succeed is; home service.
As you continue to grow and get more customers, you simply introduce this strategy to let your customers know that, “if they are tired and unable to drive to get their car washed they can call your company hotline to place a home service wash”. Which definitely will attract an additional charge.
15. Agricultural Crop Wholesaler
Just like I talked about Livestock and Exportation business. Being an Agricultural crop wholesaler is also a profitable business in Nigeria.
And with less than 100k you can start making more than 50% of that capital per delivery.
This is what most Nigerians do in major cities located in; Lagos, Abuja, Calabar, Edo, etc.
They go to the northern states ‘because that’s where you can buy agricultural food cheap’, bringing them to these cities to sell for a higher price.
I know a friend who was introduced to this business, at first he was thinking the business doesn’t fit his kind of personality “graduate” but after the first return from the first sale, he changed his mind, and today I believe he is still doing it.
All that is needed for this business is your capital.
Having a vehicle like a “truck” could be of more advantage that will reduce transportation expenses.
But in the case where you don’t have a vehicle no problem, all you have to do is, travel via a public vehicle to the state where you want to buy from when you are coming back “after buying what you need,” you can charter a vehicle from there to take you and your goods back to where you intend selling.
Meanwhile, I advise you, not to follow in the footsteps of others in this business without first taking your own market survey.
Let’s say because Mr. A takes his goods to sell in Lagos, it doesn’t mean you should take yours to Lagos without first taking a market survey in Lagos.
The first thing you must understand is you need to create the market you intend to sell to.
That’s why I advise you to start with the state you base in, there it can be easy to meet market sellers and talk to them about you being a supplier.
You get their numbers if possible. When your goods are available you can call them to tell them if they are still interested in buying.
Definitely, there will be disappointments, but that’s what you must face mostly at the beginning of every business.
All you have to do to overcome this disappointment is, take your goods to the market and start selling directly to the retailers, not to the consumers because you are a wholesaler.
Trust me, from this, you will be able to get the right customers who will be disturbing you on when the next supplies are coming.
But make sure your prices are more reasonable compared to your competitors, and your supplies are always steady.
16. Delivery or Logistics business
If you are looking for a business with great return potential, then it is the courier business.
There are several factors that have made it possible for this business to be lucrative.
The first factor was the covid that open our eyes to the potential of this business.
Other factors are written in the elaborated article; Logistics business in Nigeria.
Not just that, but also, how to have the best logistics business in Nigeria.
This is an article for business ideas to start with 500k in Nigeria
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I hope I was able to help in answering your question on; “lucrative business ideas in Nigeria”
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