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100 Business Ideas That Will Make You Financially Stable In Nigeria
Are you aspiring to start a business in Nigeria with low capital? If YES, this article is a must read for you. you’ll see 100 best small scale business ideas & investment opportunities that will make you Financially Stable in Nigeria.
Research shows that there are over 1,000 business ideas that can make you Financially Stable in Nigeria but you’re not looking hard enough. Nigeria is a big market, it is the economic capital of Africa. You can capitalize on this and create wealth for yourself.
Why looking for white jobs when you can create one! I believe the ideas listed in this article can work anywhere in Nigeria. Like all businesses, you must face setbacks but with extra effort and persistence, you can succeed anywhere you start any of this business in Nigeria.
This business is surely one of the fastest ways to be Financially Stable in Nigeria. This entrepreneur’s idea for Nigerians can make you Financially buoyant in a matter of days.
Car Wash
This is another cost-efficient business idea for you. If your location is strategically placed along an expressway then the rest assured that you’ll be making up to ₦30,000 daily.
You can easily own a car wash and hire boys that would do the heavy lifting for you. This is another smart business idea for Nigerians you should consider trying out.
Laundry & Dry Cleaning Services
This is another amazing business that you should try out. This is a business you can start with to start with 20kand still offers good profits and is one of the most lucrative businesses in Nigeria. A Laundromat is easy to start up business and cost-efficient. Professional dry cleaners make a handful of money daily.
Landed Properties
If real estate is too much for you, then investing in landed property is your alternative. Landed properties will always appreciate especially in the long term.
You can start by buying cheap land in Lagos, Abuja, Rivers… and reselling it when the price appreciates. You can invest in landed property by renting or selling an already built house to make money.
Set up a Private Institutions
it’s not new news that owning a school can easily make you a millionaire in Nigeria. Back then in secondary school, my class alone made an output about ₦700,000 per term. If you have enough money you can set up your school and start making it.
Imports
Importing goods into the country is one of the easiest startups business in Nigeria with massive benefits and income potential.
International trade with China, America, Uk and South America has proven to be very very profitable especially car gadgets, health products, and mobile devices.
Scriptwriting
This is another superb business idea for you. Writing and publishing comics, series, storybooks, and scenes for movies is a great start to financial freedom.
If you don’t have the money to produce your film, you can sell the script and still have full credits for it. You need to let you writing skill go to waste.
Consultancy
Do you have any extra specific/generic knowledge in any niche? Then open up a consultancy firm. This is one big business idea that you would not want to miss.
This business idea can fetch you a lot of money especially in areas like marriage, law, agriculture, and health. You can easily make money and change lives positively from this business.
Clinics and Hospital
Setting up a clinic or a hospital in your local government area is also one of the best business ideas in Nigeria you can think of.
They’re pregnant women, injured people, sick people trooping in and out to get affordable healthcare. Saving lives becomes the duty of the day.
Setting up a Pharmacy
Setting up a pharmacy is another amazing business idea to make money in Nigeria. This business is very very lucrative. it is easy to start up and is also the best alternative if you don’t have enough money to set up a hospital.
Event planning
When it comes to big events like weddings, church thanksgiving, and other events, a lot of money is usually grown to make this event perfect and event planners are there to save the day
Don’t be deceived event planning can fetch you a lot of money. This is one of the best startups for young entrepreneurs. Event planning and services can fetch you a lot of money whether you do it on a small or large scale. This is a good business idea for ladies in Lagos.
Tailoring
Tailoring is one of the biggest businesses in Nigeria today. This business controls most of the fashion industry and that alone is a good reason to consider investing in it.
Both men and women spend a lot on their outfit and attires investment in this business. If you have a creative mind or can recreate a red carpets outfit, you’re sure to be popular In no time. This business can set you for life. Tailoring is another business to start with 200k in Nigeria.
Carpentry
Apart from making furniture, carpenters also make doors, windows, and roofs of a building. This is another entrepreneur’s idea that you can start from nothing.
Carpenters make a lot of money, forget the roadside packaging the show. The income potential of this business is quite a jaw-dropping and it can also serve as a passive income stream if diligently done.
Concrete Block Production
If you know how to mix cement and make block this is one of the best jobs for you. This business requires no special skill unlike most of the jobs on this list. You can get yourself a block making machine or 2 and save yourself lots of trouble.
With a fast-growing population, the need for shelter especially in the urban areas is fast rising and if you can provide concrete blocks and other services when needed.
Veterinary & Pet Breeding and Services
Pets are slowly becoming close members of the family worldwide. The love for a pet has somewhat tripled over the last decade especially in middle-classed and urban areas. Vet services are a hot business in Abuja.
If you know your animal anatomy or a big fan of pets, this is one of the best businesses you can invest in this country. You can start your animal shelter well you sell and treat dogs, cats, birds, and fishes. The income potential is massive you can get up to ₦100,000 per service.
Photography
Photography is another amazing business idea you should consider investing in. Taking pictures in special events & occasions is a sure way to make money in Nigeria. This business is easy to start up and as you progress, you get better. Photography is a good
Phones, Laptops and Gadgets Repairs
This is a small scale business to start in Nigeria. You can repair mobile phones and other gadgets and start making quick money in Nigeria. There is no fixed price in this business, you state the price for your services and losses in this line of business is usually controlled if there is any at all.
Modeling Agencies
You can simply set up your modeling agency and start earning big. Most Nigerian Youth now venture into the modeling business because of high pay and little work, if you own a modeling agency can get at least 100k monthly. You can even start on your social media pages.
Freelancing
Writing for blogs newspapers and other news outlets can’t refresh a lot of money especially if you write for big companies. This business is one of the biggest online business for graduates in Nigeria.
You can start today by contacting your preferred company via email, introduce yourself and tell them of your services.
Stationeries
Onward, Leo Smart, Lucky, Big and other brands/companies that make stationery such as books, math set, pens, pencils or graphs are now giants. This line of business can make lots of money.
Stationeries are required by almost everyone especially students. So, you have a vast range of customers just waiting for you. Making stationeries is a good investment in Nigeria.
Welding
I’ve seen welders charge over ₦100,000 for a metal gate. The welding business is good business especially in Nigeria where there is rapid urban development going on around majors centers across the Nation. This is another profitable business idea for Nigerians.
Restaurants and Eateries
Restaurants and eateries make over 40% in profit daily. This business can fetch you a lot of money just by cooking and serving meals, especially in middle-class society. My aunt had an eatery in Surulere and I am writing from personal experience, this business makes sense well well.
Selling Clothes/Accessories
A boutique for selling clothes, shoes, hats, caps, trousers and even watches in malls, markets or on the street side also has high-income potential, especially for hard-working entrepreneurs. The men in Lagos Island are good examples of people that are good in this line of business.
Recruiting Agency
Owning or/and finding competent staff for companies is also a nice way to make money in Nigeria. You can help companies, factories, and agencies get the workforce they need for the business for a price. This business idea is still untapped or known especially in industrial areas.
Giving Tutorials
Giving tutorials to students, children and even adults is a great way to make money in Nigeria. This is another great way to meet public demand and still make money from it. With as little as two to three hours daily, You can be making up to 20k monthly.
Game houses
Starting a game house close to your house or place of convenience is another amazing way to make money in Nigeria. People pay lots of money to play video games especially the PlayStation 3 & 4 consoles. I had a friend that spends ₦1,000 daily on God of War for a month. There are hundreds of people like this waiting for you.
Home/Office Cleaning
Cleanliness is an important attribute of a healthy and environment. Those that are too engrossed in work usually employed to help them clean around which includes company and homes. This is an easy job for anyone willing to try it out.
Writing Resumes
Writing resumes, CVs and business agendas is another amazing way to make millions in Nigeria. When you become an expert at writing resumes, CVs and business plans that will help potential clients reach their goals, there is a lot of money to be made. This business idea is also easy to start and quite profitable.
Programming
Although this one requires a lot of skill and ample knowledge about basic and complex knowledge programming it still ranks as one of the hottest businesses that will make you rich in Nigeria. Programming is one business idea that would fetch a lot of money in the Nigerian market locally and internationally.
Apps Development
Coding and making App is another great way to make money in Nigeria. The income potential of this business is massive. If you can choose to work for someone or a company that makes an app, you still have a lot to earn.
You can also make money from Google Admob or other adverts and affiliate links placed on the app. This is not a bad way to make millions in Nigeria since everyone now carries a smart device or gadgets. You have potential customers all around you.
Catering
Catering in events, churches, birthdays, weddings and other social gatherings also fetch a lot of money to spend some money on the top and advertisement you can start making a passive income
Book Publishing
Publishing books is a great way to make money in Nigeria. Books are by far one of the most common means of mass communication. Book publishing can make you very rich fast in Nigeria. Plus, there are many varieties of books to write, print & publish. This means the income stream of this business may never dry as long as you’re a good writer.
Radio station
Starting up a radio station is one of the best financial investments in Nigeria and it is not as hard as it seems. If you are dedicated to running your FM station, you can make it to the top in no time and have your channel playing in cars, homes, and offices
Set up a law firm
You don’t have to be a lawyer to set up a law firm. You just need half a dozen or more lawyer on your pillow, set up the organization and you’re all set to go. Civil cases are been on a constant rise in Nigeria, so you’re surrounded by potential customers
Sports Viewing Centre
If you like sport and have extra space, why not try out this business. The beautiful game of football is one of the hottest sports in Nigeria. Setting up a sports betting/viewing center to watch live football games in public will surely fetch you a lot of cash especially in populated urban centers.
Freight Forwarding
You can also make money from bringing good into the country. it’s as simple as that you work as an individual or company. Helping people bring their goods into the country and getting paid is a sure way to make millions in Nigeria.
Entrepot
Entrepot involves trading with two or more countries or re-exporting goods without packaging. This is simply the ix between imports and export. You buy from one country at a low price and resell to another that has a high demand for that commodity.
Graphic designing
They’re everywhere around you, there are images advertising churches, hotels, factories, businesses, companies, and even government programs. This is not a bad way to start making money in Nigeria.
YouTube Monetization
With a lot of videos and subscribers, you can also make more tons of money from Youtube. Just upload a video or good informative slideshow to your channel. You can monetize your channel with Google Adsense, affiliate links or even advertising other brands and businesses.
Making Videos
You can also make money from making videos as an alternative to Youtube. You can start an online course where people pay to watch your video, get quality/private video tutorials or other information concerning your area of expertise.
Making Games
A lot of people will give anything to play a fun game much especially kids. By simply making a simple & addictive game like candy crush, You are sure to make millions. You can start by taking online courses on coding mobile games or designing your game algorithm.
Social Media Marketing
If the only thing you do on your page is to upload “cute” pictures and funny videos, then you are missing a lot. There are millions of dollars waiting for you on Facebook if only you can open your eyes. Start marketing your wares on social media, make them trend and make millions.
Lead Generation
This is a sure way to make millions in Nigeria. Like affiliate marketing, you refer people to certain to purchase a product from a certain brand or business and get paid. You can choose to get paid per referral or upon reaching an agreed threshold.
Website Development
If you are good at programming or understand the concept, you can also try merging it with website design and development. You can choose to develop Blogspot, WordPress or even Drupal sites for clients. You ‘ll need to know basic languages like Html, Php, CSS, and Java and you’re all set to make money from this business idea.
Drop-shipping
Drop-shipping is another hot business allover the world. Similar to freight forwarding, drop-shipping is a perfect passive income stream in Nigeria. Despite several challenges drop-shipping still makes lots of people millionaires in Nigeria.
Recycling Waste
Recycling waste is another great way to make money in Nigeria. Especially in a popular city where waste piles up, you can choose to gather this “garbage” and resell or recycle for other companies & businesses. With the right connection, you can easily make millions from recycling waste.
Nylon Bags Production
Making polythene bags is another great way to make money in Nigeria. From the common black nylon bag to the super-strong sack both are required by consumers for packing and carrying their wares all around Nigeria. Making and supplying this commodity is very profitable in Nigeria.
Feeds Production
Let’s be honest animal feed comprises over 70% kitchen waste or industrial waste so you spend little money or nothing at all if you want to start this business but gain plenty.
Making animal feed and supplying them to farmers and other people that are partaking in animal husbandry is one of the easiest ways to make money in Nigeria. Animal feed production is one of the best financial investments in Nigeria.
Forex Trading
Although you will need to undergo serious training and read lots of ebooks and bulletin before you can succeed in this industry. Other than that, the Forex market is a great place to start making money online in Nigeria.
Trading Crypto-currencies
Trading crypto-currencies and coin mining is a great way to make millions in Nigeria. Buying and selling crypto-currencies is also one of the fastest ways to make money online.
A lot of people have become millionaires by simply investing in bitcoins and other Crypto-currencies. You should also know that a lot of people have also gone bankrupt doing trading cryptos so be careful.
Selling Online Courses
Selling Online courses on Whatsapp, Facebook, forums or even on your website is a great way to make money online In Nigeria whether you sell these courses In form of an ebooks or online courses on sites like Coursera, Edx or Khan Academy.
Blogging
You can also start blogging for income and start making money online in Nigeria. With the rise of Linda Ikeji and a lot of people have taken into blogging. Blogging is another passive income stream that you can easily start in Nigeria.
E-commerce
if you don’t like writing to get money then try selling something online to get money. Owning an e-Commerce site or trading on commerce sites is another hot business idea you can start in Nigeria.
This is one of the hottest business ideas in Nigeria at the moment. You can also sell on social media or established sites like amazon, Jumia, Konga, and even Jiji.
Delivery and courier services
if you have your e-commerce store, then it will be smart to open delivery and courier services to perform waybill and delivery services to clients and other customers in the states and other customers nationwide
Set up a factory
Once you’ve set up a factory making any desired product, getting rich In Nigeria is easier than you think. You can set up a factory that makes beauty products, processed food, fabric, and even stationaries.
Cyber-cafe
Yes, owing a cyber-café is one of the best businesses in Nigeria. There is a wide variety of services offered at cyber cafes which include printing, online registration, photocopy, graphic designing, scanning, and typing. This is not at all a bad way to make money in Nigeria.
Data analysis
Data analysis on the population o topics concerning health, food, politics has been on high demand since the past 5 decades in Nigeria. Collecting data and selling them to people who need that information like politicians, health care workers, multinational organizations is also quite profitable In Nigeria
Artist
Selling artworks is another great way to make money online in Nigeria. These works are needed for pleasure, as decor in homes, hotels and even recreational centers. you should try to make artworks if you are blessed with this gift and start making money.
Bakery
You can also set up your bakery and start making money b making products like bread, doughnuts, cakes, muffins, cookies, biscuits for weddings, parties, special occasions, and other events.
Stockbroking
Buying and selling stocks in the Nigerian stock exchange is another hot way to start making money in Nigeria. This business has already made millions of rich ad best of all you can do it all from the comfort of your home. You can also sell stocks in the Chinese market, American stock market ad other stock markets.
These 100 business ideas can work for anyone in Nigeria. You can start today. One of the biggest questions entrepreneurs ask themselves before they invest in any business is “how much capital is needed?”
If you have the answer to this question and properly calculate your risks, you are closer to financial stability than you think. Now, which of these 100 business ideas do you love the most? Do tell us in the comment section and if you loved this article, do share using any of the social share buttons below.
Don't forget to leave your comment if you're doing any of the highlighted business or you've interest in any of it for necessary tips.
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