In Nigeria today, entrepreneurship has become unavoidable due to the low level of economic growth and development, and individuals who wish to survive needs one or more business ideas. There are so many business ideas in Nigeria with high returns as well as investment opportunities you can start immediately.
Whether you are an employee who desires to have numerous sources of income, or you are a student who has decided to venture into a business during strikes and holidays, now is the best time to start a profitable business in Nigeria with average capital.
The following are some top-notch business ideas in Nigeria:
1. Online Advertising Agency
Online advertising is fast taking over from TV advertising and it is expected that there will be more people advertising online and more returns generated in online advertising than the TV ads.
Setting up an online advertising agency helps you leverage this huge growth. And the business is fail-safe.
2. Catering Services
Food is one of the main life necessities that a human being cannot do without, especially on occasions.
You can capitalize on this by improving your cooking skills, taking up orders for major events, or making food deliveries to notable places.
Catering is a very worthwhile business idea in Nigeria that has gained wide acceptance.
3. Gaming Center
Most teenagers and young adults love playing games but might not be able to afford a PS 4 or 5 and get games on it. If you have enough capital to buy a couple of PS 4s and 5s along with some flat-screen TVs and other facilities in a typical gaming center.
You can also set up a snooker table, table tennis table, and some other physical games.
4. Dog/Pet Business
The Pet industry is a profitable industry and many businesses are already booming in that sector. Dog business seems to be the most profitable of these pet businesses.
Brainstorm what you can offer and go for it. It is a business of passion, specifically for pet and animal lovers.
5. Private School/Tutorial Business
From crèche to nursery and primary, owning a school would generate lots of income although it needs high capital. Regardless of the number of schools that have already been set up, yours too can thrive due to the unlimited numbers of students to pick from.
Be sure that it requires considerably large capital, but you do not need to invest millions at a go. You can start small and grow the business through innovative ideas and commitment.
6. Football Viewing Centre
Source: Nigerian Finder
We all love football. Sometimes, what makes football even more interesting is the atmosphere. That’s why many people prefer watching football games in public.
The football viewing business is a periodic business that is certain to generate lots of money during the season, while you go on vacation to enjoy your money during the break.
7. Affiliate Marketing
This is one of the many ways to make decent money online in Nigeria. An affiliate marketer sells products for an individual or organization.
To start this business, you need to register for any affiliate program of your choice (e.g. Jumia Affiliate, Konga, Amazon, etc) get your affiliate link, choose your marketing niche, devise a marketing strategy, and start selling.
If you're good at writing or if you can learn how to write, start a blog. Blogging is a great way to make money online in Nigeria. All you need is internet access, good research skill, an interest, a laptop and a lot of time.
Also, since you would want people to find your blog posts without having to pay for promotions all the time, you would need to learn how to optimize your blog posts for search engines like Google or you can as well hire the services of an SEO expert.
You can set up a free blog with WordPress or Wix but if you have some money, you should set it up on a self-hosted server.
After that, you can populate your blog with quality content, get people to read your content (drive traffic), get their confidence, and monetize your blog with Google AdSense or any other ad network, display advert, affiliate marketing or sell information products such as ebooks, etc.
Memories are one of the most important assets of any individual. One way to keep those memories alive is through pictures.
On that note, professional photographers are in high demand. If you are planning to start a photography business, all you need to do is get a very good camera, take some photography lessons, and you're good to go.
10. Laundry Services
The laundry business is another business idea in Nigeria today because most Nigerians are so busy and they hardly have time to do their laundry.
This business requires doesn't require much capital, and you can do it right from your home without a shop. All you need is a washing machine, a functioning telephone number, and a marketing strategy.
11. Airtime and Data Sales Services
In this 21st century, airtime and data subscriptions are very important amenities. You can capitalize on this fact and start buying airtime and data in bulk at a lower price and sell it out to people at the standard price. You do not need the training to start this business, neither do you need a large capital.
12. Mobile Phone Repair
All you need to start this business is a little training, a laptop, software tools, and some other tools (like a screwdriver, soldering iron, brush, battery tester, etc.)
With significant training and relatively small money, you can get your phone repair kit and start making money.
Another thing you need in this business is communication skills that would earn your customers and in no time expand your business.
13. Rental Services
People constantly need things that they do not have. Some of the things you can start renting out includes bicycles, canopies, chairs, vacuum cleaners, cutleries, ladder, cooking utensils, music box, etc.
If the business gets going, you can add more items as you discover what people like renting. Also, you can prepare a leaflet, advertise in a local newspaper or use social media to advertise your services.
14. Poultry Farming
Poultry farming involves the rearing of domesticated birds like chickens, ducks, turkeys, and geese, for their end product.
You can either sell them off as meat or their eggs for food. Poultry is one of the most successful businesses in Nigeria and based on how well you run the business and succeed, you can also attract serious investors.
15. Transportation Business
Everyone goes to work or transports goods around. With a fleet of vehicles or just one, you can solve this basic problem by transporting people and/or goods around, and get paid for it. Transportation is a very lucrative business that has space for everyone.
16. Car Wash Services
With more and more cars coming into the streets every day, the need for a car wash is always on the increase. All you need is a good location, a regular supply of water, and a few pieces of equipment.
17. Importation of Used Clothes (Okrika Bale Business)
This business is flourishing very well in Nigeria because of the poor economy of the country. An average income earner in Nigeria may not be able to afford clothes from a boutique.
So, the “Okrika bale” business is a great business to start anywhere in Nigeria especially in sub-urban and rural localities.
18. Digital Marketing
Digital marketing centers on marketing in the digital sphere. It is one of the business ideas in Nigeria that is growing in demand.
Unlike regular physical marketers that reach out to people through meetings and calls, digital marketing uses social media and other online channels.
It combines the power of SEO, content, emails, and other online tools to create a large online print for businesses.
19. App Development
With the popularity of smartphones, smart TVs, laptops, tablets, and other digital devices. Apps are even making them smarter. There's basically an app for almost everything.
If you are good at coding and developing apps, this is the time to take it up as a business. You can also take lessons if you have spare time.
20. Mini Importation
Many people have a lot of profit by importing items online through eCommerce sites like Alibaba, Aliexpress, DHgate, global sources, etc. With about N100,000 or even less, you’re can start this profitable business.
First, you need to Identify people’s demands. Search all the eCommerce websites, get a procurement agent to buy these items. The agent will then send the items to you to sell and make your cash.
21. Sports Betting Agency
This has become a goldmine business in Nigeria as the young and old capitalize on their love for football to make money while enjoying the game.
You will need a neat environment for office space (a shop will do), a generator, an internet connection, a computer, a printer, and a fixtures board.
Next, you sign an agency agreement with your bookmaker. With some companies, you make money in three ways: through board games, through virtual games, and the deposit you make on behalf of your customers.
With about N250,000, you can start this business and begin to smile at the bank.
22. Uberpreneur – Uber Driving
Source: My Moto Nigeria
There are many reasons people decide to drive with Uber. Some do it for the freedom to drive when and where they like. They’re the boss, and they work for as long as they want, following a schedule that suits them.
23. Liquid Soap Production
Every household in the country needs this product. So, there will always be a demand for it. You just have to capitalize on this massive demand.
You can make so much money from making liquid soap and selling it to supermarkets and other shops that retail to end-users, bakers, restaurants, caterers, and home keepers.
You may have to get some training that is available at vocational centers run by governmental and non-governmental organizations. Then, you create a large market by branding and fine packaging and you will soon start smiling at the bank.
24. Home/Office Cleaning
Cleanliness is one of the most beautiful habits that makes the environment look wonderful. But not everyone has the habit as most people are too busy to keep their homes and offices clean.
Sourcing a cleaner has become the next best option towards maintaining a clean environment. Most companies and homes outsource cleaning to the cleaning agent. So, by starting a cleaning agency and garnering an image, you can make a lot from this business.
25. Writing Business Proposals Resume
A lot of people out there who want to go into business or look for jobs simply don’t know how to write a top-notch business plan and job resumes. They prefer to hire experts to do the writing for them. If you are good at writing business plans, proposals, and resumes, then this could just be your business.
26. Graphics Designing
This business might just be the best for you if you have a flair for art and you feel you're very creative. You can also take some courses on graphics design if you're willing to be a graphics designer and you don't know much about it before.
This business requires little capital to start. All you need to start are some design software such as Adobe Photoshop, Illustrator, Corel Draw, etc.
27. Social Media Marketing
The Social media space has grown to be a vital tool that can increase not only the visibility of businesses but also their profitability.
Some companies now have social media strategy as a full-service function within their organization while some others outsource this service. This is why there is an increasing need for people with social media marketing strategy and development skills.
You can capitalize on this development to learn the art of using Facebook, Twitter, Linked In, Blogs, Online Forums, etc to sell goods and services and offer this to many individuals and organizations, including SMEs.
28. Plantain Chips Production Sales
Plantain chips is a popular snack all around Nigeria and that makes it a lucrative business idea.
You don’t need to be a UAC or Leventis Food to start a plantain chip business in Nigeria.
You can start this right from your kitchen. Just place your brand name on well-packaged transparent nylon, and you’re good to go.
You might also need to get some coaching from someone already in the business, learn some recipes and map out a supply chain for your raw materials (plantain) and finished products.
29. Freelance Content Development/Ghost Writing
Setting yourself up as a freelance content developer could prove to be a great and profitable side-hustle or maybe even a full-time job.
Companies such as blogs, media agencies, and startups will pay big time for someone who can write a clean copy of content, whether it’s for advertisements, blogs, or websites. Some companies might even pay you for your editing services.
30. Eggs Supply Distribution
Apart from its dietary benefits, eggs are also used to make many products such as confectioneries, hair conditioners, cosmetics, soaps, shampoo, glue, etc.
This business can be started on a small scale and grow to become a big venture. If you want to go into this business, the first thing you must do is find poultry farms that produce quality eggs and/or large egg distributors.
Then develop a network of buyers. To succeed, you just need empty egg crates and a means of transportation for delivery services.
There you have it, 30 Top-Notch Business Ideas in Nigeria.
Running a successful business in Nigeria majorly depends on what goes down well with you. You should consider important factors like your location and the demand for such a service. Most importantly, do something that you love, and make sure it offers a good profit margin compared to investment.
Lastly, you might require a lot of capital for some specific business ventures. You should check out these loan platforms to get the revenue you need to start up.