Last Updated on January 8, 2021 by Henry Ibeleme
There are many untapped business ideas in Nigeria, and most of them have the potential to make you a millionaire in this new year.
You know these ideas; you see them every day when you go shopping. You see them each time you go to school, or perhaps your place of work.
These businesses can make you a lot of money, but you’ve yet to overcome the fear of failure.
If you’re able to crawl out of your comfort zone and into your fear, you will discover that making money is not a big deal.
Before I begin, do you know that this blog page is the only blog page in Nigeria with over 100 business ideas?
Now that I’ve bragged about my achievement let’s get into the business of the day #Winks
Table of Contents
- 1. The Oil & Gas Business
- 2. The Music Industry
- 3. Importation Business
- 4. Dropshipping Business
- 5. Establish A School
- 6. Daycare/Crèche Center
- 7. Film Production Business
- 8. An Actor or Actress
- 9. Real Estate Business
- 10. Hotel Business
- 11. The Transportation Business
- 12. LPG Filling Plant
- 13. Hospital
- 14. Boutique
- 15. Garri Processing Factory
- 16. Supermarket Business
- 17. Dry Cleaning Business
- 18. Restaurant Business
- 19. Car Rental Business
- 20. GYM Business
- 21. Auto Repair Business
- Business Ideas In Nigeria For Ladies
- 22. Cosmetics Business
- 23. Hair Salon Business
- 24. Tailoring Business
- 25. Child Care Business
- 26. Catering Business
- 27. Event Planning
- 28. Cake Baking Business
- 29. Home Cleaning Business
- 30. Beads Business
- Agricultural Business Ideas In Nigeria
- 31. Fish Farming Business
- 32. Palm Oil Business
- 33. Rice Farming Business
- 33. Plantain Farming
- 34. Poultry Farming
- 35. Pineapple Farming
- 36. Snail Farming
- 37. Maize Farming
- 38. Beans Farming
- 39. Poultry Feed Production
- 40. Chicken And Egg Distribution Business
- 41. Fresh Vegetable Business
- 42. Cucumber Farming
- 43. Yam Flour Production
- 44. Bean Flour Production
- 45. Quail Farming Business
- 46. Pig Farming Business
- 47. Shea Butter Extraction and Refinery
- 48. Soy Beans Production
- 49. Tomato Processing Business
- 50. Bee Farming
- Online Business Ideas In Nigeria
- 51. eCommerce Business
- 52. Affiliate Marketing
- 53. Vlogging
- 54. Web Design And Development
- 55. Create A Forum
- 56. Become A Social Media Influencer
- 57. Freelance Writing
- 58. Publish A Book Online
- 59. Sell Your Photos Online
- 60. Domain Selling Business
- 61. Bitcoin And Cryptocurrencies
- 62. Online Courses
- 63. Start A Podcast
- 64. Become A Virtual Assistant
- 65. Run A Fan Page
- 67. Edit Videos Online
- Fast Moving Business Ideas In Nigeria
- 68. Barbing Business
- 69. Football Viewing Center
- 70. Tutorial Center Business
- 71. Car Wash Business
- 72. Cyber Café
- 73. Shoe Making Business
- 74. Pure Water Production
- 75. Bar Business
- 76. Pet Breeding Business
- 77. Start A Popcorn Business
- 78. Bridal Shop Business
- 79. Solar Energy Installation Business
- 80. Driving School Business
- 81. Cement Production Business
- 82. Phone Charging Business
- 83. Jewelry Store
- 84. Pharmacy Store Business
- 85. Social Media Marketing
- 86. Recharge Card Printing
- 87. Magazine Publication
- 88. Computer Repair And Accessories
- 89. Frozen Food Business
- 90. Ice Block Production
- 91. Shawarma Business
- 92. Cinema Business
- 93. SEO Consultant
- 94. Customized T-shirt Printing Business
- 95. Landed Properties
- 96. Haulage Business
- 97. Gold Business
- 98. Radio Station
- 99. Nylon Bags Production
- 100. Rental Services
- Over To You!
1. The Oil & Gas Business
Nigeria is blessed with an abundance of oil. Unfortunately, not many Nigerians are keen to exploit that idea.
Maybe why many shy away from this business is because of the rigorous protocols.
There are more than five different agencies you need to register with, to operate as an industrial oil business.
Also, it requires massive capital to start, which is something many don’t have.
Nevertheless, it remains one of the top business ideas in Nigeria that spill profit in millions.
My friend’s father has a Filling Station at Aba, and being close to his family exposed me to the oil business.
It is a vast Greenland, with numerous aspects and opportunities to tap. With a good business plan and determination, you will become a millionaire.
2. The Music Industry
The Nigerian music industry is a billion-dollar industry, where you get a reward for creating value.
Musicians are business persons and have their customers, which is you.
When they release a new product in the form of music, their loyal customers (fans) are ever ready to devour it.
How do you tap into this profitable business idea?
- You need to have a musical talent
- Compose music that appeals to potential fans
- Capital to finance your music production
- Music promotion & marketing
Your success in this business lies in your ability to remain relevant to social media.
Trust me; you don’t even need talent! Just get an excellent beat, and they will dance to it!
3. Importation Business
I am sure you have been hearing about this business for years.
Perhaps you even attended a seminar or possibly heard about it in school.
The thing is, it is one of the most underrated business ideas in Nigeria.
The reason for this is glaring; people are scared to lose their money or get stock with the product.
But none of that can happen if you play the ball well.
The first thing you need to do is go on market research and discover hot products.
During my undergraduate days, I was able to import some portable battery fans from AliExpress at the price of #850.
I ordered 24 pieces and guessed how much I sold it?
I sold one fan for #2000. Since students in the hostel hardly get electricity, it is mostly hot at night.
By making the portable fan available, they rushed it without minding the price.
Look around you; there must be something that will cause a buzz in your area. Perhaps a bangle, watch, or clothes.
When you make an order, you will get your products delivered to the nearest post office in your address.
I recently wrote a detailed article on how to start a mini importation business. Do check it out!
4. Dropshipping Business
Dropshipping business is one of the business ideas in Nigeria that only a few are doing.
These few people have discovered the Holy Grail, and they are quiet about it.
If you’re looking for a business to start here in Nigeria, you might need to consider it.
To do this business, you will need an online store and a supplier.
When customers make orders through your store, you refer these orders to your supplier who processes it.
Your supplier is in charge of inventory and delivery. So you don’t have to disturb yourself about buying products or delivery.
5. Establish A School
If you have about #50 million nairas lying around, you can found a primary or secondary school and make money in the long run.
Not only will you become a millionaire from such a large establishment, you immortalize your name and reputation.
Starting a private school in Nigeria is not hard, provided you have the needed finance to build a quality structure.
If you don’t have millions to start this business, take a look at:
6. Daycare/Crèche Center
In case you don’t have that ridiculous amount to establish a school, you can start a daycare center with as little as #500,000.
You will need a center where you will drop the babies, including lots of beds, toys, and books.
You help working moms take care of their kids, but you also build their mental capacity as a teacher.
If you love children, this business idea will appeal to you.
If that doesn’t sound like a good idea, you can always hire a teacher.
With this business, you will be making approximately #250,000 monthly, depending on your customer base and fee.
7. Film Production Business
Entertainment is ruling the world; undoubtedly, it made it to the top 7 business ideas in Nigeria.
You can tap into the Nollywood industry and make both money and name.
Starting a production business will require huge finance, especially regarding the equipment needed for production.
If you want to produce a cinematic video that grabs the audience’s attention, budget at least #5 million for acquiring the equipment.
If you don’t have skills in film making, editing or shooting, you will need to hire experts who will require MONEY!
Phew! Nothing is easy!
But if you can produce a great movie with a compelling storyline and acting, you will shoot yourself to the stars.
If you don’t have the needed capital to start this business, perhaps you can consider becoming:
8. An Actor or Actress
Is acting a business idea?
Of course! Once you’re hired to play a role, you’re only paid based on your services as an actor or actress.
In that case, it might be your one ticket to stardom. Wouldn’t that be great?
But before you walk into that spotlight and have the crowd scream your name, you need to start somewhere.
The first step is to register in an acting academy. The one in Nigeria is called the Actors Guide of Nigeria.
Do your research and find information on how to enroll.
At first, you will be landing some minor roles. You don’t need to feel sad.
The big names you hear today start from the ground to the top.
Focus only on presenting the right image to the public and improve in your acting.
With consistency and determination, you will watch your dream manifest before your eyes.
9. Real Estate Business
Like Robert Kiyosaki, real estate tycoon will tell you that the real estate business is the road to take.
Do you know why? These are passive income sources that can make you money while you sleep.
The dream of every entrepreneur should be to retire one day and still live financially free.
That can only be possible if you build numerous passive income streams like real estate.
It is one of the top 10 business ideas in Nigeria that the rich don’t joke with.
The only obstacle to this business idea is finance. To build two-bedroom apartments runs in millions now, now imagine building a two-story building.
If you have the needed finance, please get across a real estate broker and have a professional guide.
Housing is an expensive commodity in Nigeria, and delving into real estate is NEVER a wrong choice.
10. Hotel Business
Hotel Business is a booming industry, and that is why new hotels keep springing up every day.
Depending on how big, you will need millions of capital to kick off.
To ensure that you don’t make any mistake, start by drawing a business plan.
That will help you take a look at the industry and determine your chances and requirements.
Like real estate, it is also a passive source of income that will make millions throughout life.
If you’re in a good business location, you will find yourself diversifying into other aspects like bar business, restaurant, betting, and football viewing center.
It is one of the businesses that will lead you to start other businesses.
Before you know it, your bank figures are running toward eight digits.
11. The Transportation Business
Transportation is an intrinsic part of our life; we can’t live without it.
Millions of Nigerians don’t have a car of their own, so they depend on public transportation systems.
The cost of starting this profitable business in Nigeria depends on your business plan.
You can put three KekeNapep on the road and have your workers make accounts every week.
If you have about #50 million, starting a transportation company with three 18-seater buses will be ideal.
It is a lucrative business since demand is always the same every day.
12. LPG Filling Plant
Many prospective business persons prefer to call this business a gas cooking business.
Whatever you might want to call it, the fact is that it remains one of the top business ideas in Nigeria.
Just like some previously mentioned business, you will need a huge capital to start.
An LPG tank cost about #2 to #5 million nairas, depending on the size.
The reason you need to start this business is that ROI is very high.
Also, there isn’t much competition.
I am partnering with a china company that deals on LPG Tanks.
If you can contact me, you will be able to get one for your business at a discounted price.
You will not find this offer anywhere in Nigeria.
You don’t need to be a doctor to own a hospital.
If you have the money to establish this venture, please begin with a business plan.
When your hospital is ready, you can employ doctors, nurses, lab scientists, etc.
It is no longer secrets that hospitals make a lot of money, and their cost of treatment is nothing compared to the gains.
But if your doctors and nurses know how to take care of a patient, your hospital will be booming.
Fashion is the order of the day.
When was the last time you bought a new set of clothes, shoes, or jewelry?
I am not a fashionista, but millions of Nigerians don’t joke with what they wear.
Starting a boutique business is an incredible business idea that will make you money.
All you have to do is get a good business location.
To begin this business, you will have to find the right supplier that supplies you with wears.
That means you will be doing a little bit mini-importation when it comes to getting your products.
Buying from dealers in Nigeria is expensive and will cut down on your gain.
15. Garri Processing Factory
Garri is the only product in Nigeria that is always on demand without an advert.
The last thing I went shopping, three cups of garri was #200.
Most people in this business often do it locally.
But if you want to be faster, there are lots of garri processing machines you can order.
If you’re able to establish this business in an excellent remote area, not only will you be making money from processing garri, the locals will also pay to process their garri.
I was at a farm last year, and on the other side was a factor where cassava is processed into flakes and starch.
The produce is often sold in bags, while surpluses are exported.
This business will need considerable finance, so ensure you begin with a business plan.
16. Supermarket Business
This business idea is lucrative, especially since most people love shopping in places like ShopRite.
They love buying from a beautiful and serene environment, unlike local markets that get you in physical contact with people.
In this age of social distancing, people are more likely to shop in supermarkets than in local markets.
The cost of starting a supermarket business lies in how big you want to start.
If you don’t have millions yet, there is no harm start small and growing to a giant.
The supermarket business is one of the business ideas in Nigeria that is lucrative and easy to run.
17. Dry Cleaning Business
Many people have downgraded this business a lot.
It is one of these untapped businesses in Nigeria.
The business moves fast and capable of making you money all year round.
As long as people keep wearing clothes, customers will never stop coming.
It is a business you can start with #500,000.
You will need a shop and a washing machine.
Other equipment that you will need include:
- A generator
- A pressing iron
- Polythene bags for packaging
- A clothing line for drying, etc.
If you’re in a good location, making approximately #10,000 every day is possible.
18. Restaurant Business
When I was living alone, cooking was never my favorite activity.
Aside from that, it is pretty a time waster. I’d instead head over to a restaurant and have my fill, instead of wasting hours cooking.
That is because, to me, time is of great essence.
A lot of Nigerians feel this way. One told me the other day that eating out is more economical than cooking.
If you’re a chef and looking for a service-rendering business in Nigeria, the restaurant business will be best for you.
It is a business idea for ladies in Nigeria since they are pretty much dominating the industry.
19. Car Rental Business
Not everyone owns a car in Nigeria, and sometimes there could be a great need for it.
That is where a car rental business comes in.
It is a tricky business if you’re new. That is why I always advise getting someone who’s already in the market.
When an experienced person teaches you the ropes, succeeding becomes easy.
The cost of starting this business in Nigeria is somewhat high, but the gain worth the investment.
20. GYM Business
Another profitable business that you can do in Nigeria is the GYM business.
I have been conscious of my physique for a while, and I might be registering in a gym soon.
If you’re a fitness enthusiast, you can make money by starting this lucrative untapped business opportunity.
You will need a gym center and a few gym equipment.
Furthermore, you will need some instructors or trainers.
If you’re serious with this business, take it online by creating a blog or by becoming a fitness influencer on Instagram.
You can never go wrong in the gym business.
[This article “Business Ideas in Nigeria” was first published in www.bloghomies.com.>> Ignore this, it’s for copy and pasters!]
21. Auto Repair Business
Do you know how many thousands of cars on our road?
The auto repair business is a business that moves fast in Nigeria.
If you’re a mechanic engineer, perhaps you should consider starting this lucrative business.
First of all, you need to pick a car model that is very popular on Nigerian roads.
You can’t be master of all, as every car model is unique.
Some car repairers will tell you that choosing a niche is best, as you have a better chance of establishing yourself.
Business Ideas In Nigeria For Ladies
22. Cosmetics Business
Another idea that you can exploit here in Nigeria is the cosmetics business.
If you’re a fan of beauty and art, this is the ideal business for you.
It is regarded as a ladies’ business, but I’ve seen men who are into it.
All you have to do is training on how to apply makeup, manicure, pedicure, eyelash fixes, hair making, etc.
Aside from training, #100,000 is enough to begin on a small scale.
23. Hair Salon Business
This business belongs to the beauty industry, and it’s profitable, provided you’re in a good location.
If you’re a lady, you’ll know what I’m talking about.
How much did you often make your hair?
I’ve seen ladies that use over #20,000 to fix a hair.
Do you know the intriguing part?
They are back again in three weeks for another fix.
To start this business:
- Get a shop
- Stock with hair creams and products
- Purchase hair equipment like a dryer, blower, generator, heater, stretcher, etc.
- Employ an assistant if demand is high
- Market your business through banners, flyers, business cards, etc.
24. Tailoring Business
If you’re a fan of fashion/design, why not delve into this business?
It’s one of the top businesses that ladies can do in Nigeria.
But first, you need to undergo training.
There are lots of fashion designers in your locality.
All you have to do is apply for training.
They all have their requirement, which might include a crate of mineral, excluding the training fee.
The requirements are different, depending on your location and person.
Train for at least a year or more.
That way, you know the ins and out of tailoring business.
I have seen some ladies train only for six months thinking they’ve got it all.
25. Child Care Business
In places like Lagos and Abuja, this business is a goldmine.
You will love this business, especially if you love kids a lot.
The nanny business is booming, and you can make money with the right customers.
If you have additional education, it would be a bonus.
26. Catering Business
If you love to cook, this business will appeal to you.
I love this business because it opens doors.
You can decide if it will be an outdoor or indoor catering service.
Perhaps you can do both, depending on your capabilities.
You can start with any amount!
Take note that the success of this business lies in your cooking and hygiene.
27. Event Planning
If you believe you have what it takes to organize an event, this business will be the ideal path for you.
Anyone can do this business, whether you’re a man or a woman.
The most important skill you need is management.
As an event planner, you either work from home or with an office.
You don’t even need much capital to start this business.
All you need is a list of contacts for good bands, catering services, photographers, cake bakers, etc.
These are people you hire to liven up the event.
28. Cake Baking Business
This business is not exclusively for the ladies.
I have a male friend who is making mad money from cake baking.
He bakes for parties, birthdays, weddings, etc.
The only requirement is learning how to bake a cake.
After that, you print your marketing materials like business cards and flyers.
When you get an order, you can make it happen with just #10,000 depending on the client’s budget.
You can make over #50,000 from a single contract.
The key to success is creativity regarding design and taste.
29. Home Cleaning Business
If you’re in locations like Lagos, Abuja, Port Harcourt, etc., you can do it.
Anyone can do this business, but ladies seem to have dominated.
To begin, I’d advise you to start by procuring some items you’ll need.
You’ll need some cleaning materials, hand gloves, buckets, mobs, apron, etc.
With a good marketing strategy, you’ll be making nothing less than #70,000, apart from the tips.
30. Beads Business
I was into this business as an undergraduate, which made me a lot in terms of money.
It’s one of the most underrated business ideas in Nigeria.
But first, you need to get the necessary materials and learn the craft.
I was able to learn using a YouTube tutorial.
If I can do it, you too can!
Agricultural Business Ideas In Nigeria
31. Fish Farming Business
Fish farming is one of the businesses that never goes out of season.
But then again, it can be somewhat complex and expensive to start.
It is best if you get a mentor who’s already in the business.
That way, you won’t have to make any mistakes.
Fish farming is a lucrative agribusiness that will make you a lot of money.
But first, you need to set everything in place.
That entails getting a fish pond, fingerlings, feed, and a borehole for water supply.
32. Palm Oil Business
I had a friend in Port Harcourt who made #1.2 million nairas from the palm oil business.
It is a seasonal business but spills in money.
It is a business idea that you’ll never regret doing.
A success tip is buying Palm Oil when it’s very cheap and resell during scarcity months.
Your gain depends on how many gallons you were able to purchase.
33. Rice Farming Business
Nigeria is one of the largest consumers of rice.
The fact is, it is one of the most staple foods we have.
In 2011, importation of rice in Nigeria cost over #991billion.
Are you thinking what I am thinking?
You can become a millionaire if you do this business well.
The market for rice is not a problem.
The main work lies in getting a suitable and where you can farm.
You can never go wrong with Rice Farming.
33. Plantain Farming
Another lucrative farming business on this list is plantain plantation.
Once you start, your plantation will keep yielding produce all year round.
This business is a good income earner, and the market is there to make you rich.
Starting this farming business is easy if you already have land.
Prepare the land, get some quality suckers, and plant.
When next you come around, you’ll discover how this plant has taken over the land.
34. Poultry Farming
This business comes with only one risk: you can lose all your chicken to the flu.
My dad started this business in 2017, and they all died within two weeks.
He didn’t pay attention to their health and was focused only on feeding.
Poultry farming is a lucrative business, but you have to do it right.
When ordering day chicks, don’t forget to buy their drugs.
As you feed them, you can add the drug to their water.
If you get them during the cold season, don’t forget to give them a heat source.
You could drop a kerosene lamp, or perhaps a bulb that generates heat.
35. Pineapple Farming
Australian entrepreneurs will tell you that life is sweet with pineapple.
Any juice maker who doesn’t have this fantastic product is a joke.
It’s a popular element in juice, and very lucrative as a business.
One pineapple at Mile-12 market Lagos is #200.
If you’re able to harvest about 800,000 a year, you will be making about #100×800 = #80,000,000.
It is CRAZY!
I don’t need to say further.
36. Snail Farming
In all my life, I am yet to see someone who can fully exploit the potentials in this business.
Like seriously, this is a bank vault we are looking at.
However, I see this business keeping off very soon here in Nigeria.
I course mate of mine started this business, even create a blog for it.
Not only is he making money from snail farming, but he also earns from teaching others about the business.
Also, he has written a lot of books which have made him millions.
When you’re able to identify a business and exploit it, you will undoubtedly dine with money.
37. Maize Farming
At the time of writing this article, we are in the raining season, and this is the time for maize.
God! I don’t joke with this plant.
I remember spending my last penny just so that I can buy two corns with a pear.
The fact is, you can make money from maize farming.
A stick of maize goes for over #100.
Imagine if you’re able to harvest over 10,000 maize, making over #1million in a season.
That also means you will have to do this in a big way, which is commercial farming.
You will need a vast land, lots of tractors and farmers.
It is a serious business, and you have to treat it like one.
Get a business plan from a business consultant and begin.
38. Beans Farming
In today’s market, it is as if beans are about to cost twice the price of rice.
Now that the FGN is gradually relaxing lockdown due to coronavirus expect the price of this commodity to rise.
How can you join this lucrative farming business and make money?
If you’re in southeast Nigeria, you’re in luck since beans do very well in that area.
Not just the South East, but South-South and South West as well.
Why isn’t somebody exploiting this business idea?
Each of these products is from the North, whereas we have better soil.
Rest assured that if you start this farming business, you will never regret it.
39. Poultry Feed Production
There are lots of poultry farmers who rely on poultry feed to succeed.
This agribusiness is lucrative and able to make you a lot of money.
You know why?
For chicken to grow, they need to eat, which is where you come in.
If you’re able to build a significant customer base with lots of poultry farmers, you will be smiling to the bank always.
To start this business, you need to know how to produce those feeds.
There are lots of skill acquisition centers around you, even feed producers.
Don’t be shy to approach them and make inquires about training.
40. Chicken And Egg Distribution Business
Here is one of the business ideas in Nigeria that might interest you.
That is because you don’t need any particular skill or training to do this business.
The fact is, what you will be doing is errands.
You buy chicken and egg from a poultry farmer, then carry them with your truck to the market where they ruse it.
You see, as simple as that!
You can start egg business with at least #50,000.
If you don’t have the money, you can become smart by going into an agreement with a poultry farmer.
They sell to you on credit while you repay them in two weeks.
Trust me; you will recover five times your initial investment.
41. Fresh Vegetable Business
Before you close this page out of anger, please hear me out.
I know you’re wondering, “What will I do with vegetable business?”
My dear, I am talking about the commercial system – in a big way.
That way, you will be making millions of naira in every harvest.
There are different vegetables you can farm, and the most popular here in Nigeria is Pumpkin.
Another one is green, curry…
Is curry a vegetable?
The fact is that you can make money from these here in Nigeria.
42. Cucumber Farming
This farming business is trendy, but yet you hardly see people go into it.
You’re safe to say that it is one of the most popular exploit opportunities in Nigeria.
During my 100 level in the University, one of my roommates was into cucumber farming.
He is from Ngwa, Abia State, and makes nothing less than #300,000 in every harvest.
It’s a business in Nigeria that can make you a lot of money.
43. Yam Flour Production
There are many people today who prefer pounded yam instead of garri or fufu.
In those days, the wife of a husband will sit under a tree, stirring and pounding the yam for food.
Today, no one has the time to sit under a tree pounding a yam.
Instead, they prefer yam flour since it’s more comfortable to prepare.
That is where you come in:
With #30,000, you can:
- Buy fresh yam in the market.
- Slice and leave it to dry.
- Grind with an engine and package the powder.
Your success lies mainly in your product packaging and marketing strategies.
44. Bean Flour Production
This business idea is similar to Yam Flour Production, almost the same method.
I remember those years when my mother uses to prepare Moi-Moi.
She will package it with a Peak Milk container, and we’ll eat it with either custard or are.
Those were the good old days.
But today, the women are becoming working-class citizens, thereby making time a costly commodity.
Since there is no time to wash the beans and grind it in an engine, bean flour becomes preferable.
This profitable business can make you lots of money if you implore an excellent marketing strategy.
45. Quail Farming Business
The health benefits of quail eggs have made this agricultural produce a hot cake.
Doctors are recommending quail eggs to their patients, and the media is talking about it too.
That is free marketing, and your chances of success are huge.
Aside from the health benefits, it’s more delicious compared to the chicken egg.
That is why I have made a complete switch from chicken egg to quail egg.
Although it is expensive, it is worth it.
By starring a quail farming business, you’ll be openings yourself up to opportunities.
46. Pig Farming Business
If you’re from the Northern side of Nigerian, I won’t advise you to start this business.
Due to their religious belief, they don’t eat pork.
Due to this factor, demand is not high.
But if you’re in Eastern or Southern Nigeria, you’ll make millions from this farming business.
It is one of these business ideas in Nigeria that can change the story of a man.
You can start with 20 pigs and grow into a giant.
47. Shea Butter Extraction and Refinery
Ever since I heard about the miraculous power of Shea butter to the skin, my skin has been glowing ever since.
Why am I sharing my magical skin recipe with you?
That’s because there is a massive demand for Shea butter and you can make millions from it.
Among your target market include the pharmaceutical and confectionery industries.
The potentials in this business are incredible.
By delving into this farming business, you’ll forever be financially stable.
48. Soy Beans Production
I attended an agricultural university as a student of entrepreneurial studies.
I one of my skill classes, I was exposed to the lucrative nature of soybeans.
Production of soybean is not rocket science. Just ensure there is an engine closeby for grinding.
49. Tomato Processing Business
Most of the tomato pastes we eat are from foreign countries.
Like Gino, Derika, Rico, etc.
We have lots of tomato farmers in Nigeria. Why are people still hesitating to establish this business?
Although starting this business won’t be cheap since you’ll need some sophisticated machines for processing.
But if you’re able to establish this business, the market will be at your feet.
50. Bee Farming
Top 50 on business ideas in Nigeria is bee farming.
It is among the untapped businesses in Nigeria that many are too scared to start.
Afraid of getting bitten by a bee?
That rarely happens, since the farmer often covers their body with protective wear.
Also, bees only bite when threatened.
So, don’t be afraid to start this business. The fact is, you’ll make a lot since there is little or no competition.
Online Business Ideas In Nigeria
51. eCommerce Business
Many Nigerians today are still shying away from online businesses.
Let me share a secret with you: For ten years now, every penny I’ve spent came from my online businesses.
One of these online business ideas that can make you a lot is eCommerce.
Big companies like Jumia and Konga are already making it big in the industry.
However, there are still demands to be met.
All you need to start is an online store. Hire a web developer to help set it up.
With a good marketing strategy, you will be competing with giants like Jumia and Konga.
52. Affiliate Marketing
An online business I respect so much is affiliate marketing.
A lot of online gurus in Nigeria are making thousands of dollars every day.
45% of my income comes from affiliate marketing, that’s why I’m telling you to take an interest in this online business.
To start, you will need a blog and a niche.
I have already written an in-depth guide on how to start affiliate marketing.
Due to the lucrativeness of this online business, I created a vlogging-category on this blog.
Vlogging means video blogging. It is like blogging, except that you do it with videos.
A common platform for this vital business is YouTube.
I have written a couple of articles on Youtube, even how to create a YouTube channel.
Do check them out as you will find them very helpful.
54. Web Design And Development
Before you skip this business, please hear me out!
In today’s world, you don’t need to be a badass programmer to create a website.
There are lots of software today that makes designing a website a child’ splay.
I’m not a programmer, but I’ve designed a lot of professionally-looking business websites for clients.
A website designed can fetch you over #100,000, depending on negotiation.
Head over to YouTube and start learning website design.
55. Create A Forum
Do you know how much Seun Osawe makes from Nairaland.com?
It is the biggest forum in Nigeria, and he has lots of moderators as employees.
Although Seun is not a public person, his net worth is estimated to be $5 million.
But right now, Nigerians need something new.
Nairaland has been the same in design for years now. When numerous foreign companies are continually pushing forth updates, the forum remains the same.
That is an opportunity for you to offer what the platform failed to provide.
But you’ll need money to establish a forum, including marketing.
56. Become A Social Media Influencer
We are now in the era of social media, and you can tap into this billion-dollar industry.
Influencers are individuals who have a lot of followers on their social handle.
How do they make money?
When you have tons of followers and focus on a single niche, you will be getting sponsorship requests from brands.
57. Freelance Writing
If you have stunning writing skills, you can earn a lot of money writing for people.
I know how to write, and through my skill, I have been able to make money writing for businesses and blogs.
In my opinion, the only thing you need to start this online business is CopyScape and Grammarly.
CopyScape is to check your content for plagiarism, while Grammarly helps to correct your grammar errors.
You will also need a desktop computer or laptop since typing on your mobile phone can be frustrating.
I wrote an in-depth article on how to become a freelance writer. Do check it out as it will help.
58. Publish A Book Online
Lots of businesses will make you money online, but not all will give you passive income.
You can become an author and publish your book online.
You don’t need a publisher or a printing press company.
All you need is to compile your idea into an eBook and publish on platforms like Kindle and Okadabooks.
Among all the business ideas in Nigeria, this one appeals so much to me. Perhaps it is because I am a writer.
If you love writing and your dream of becoming an author one day, this is your opportunity.
59. Sell Your Photos Online
I see a lot of Nigerian take awesome looking pictures using GCam.
But do you know why I am sad?
They can make thousands of dollars with those pictures, but can’t due to ignorance.
If your phone camera quality is good, or maybe you have a good camera, you make money from your photography skill.
All you have to do is register in stock platforms like Shutterstock and Getty.
60. Domain Selling Business
It is popularly known as domain flipping business, a lucrative.
In case you don’t know what a domain name is, it is merely the address of a website.
The address of this website is www.bloghomies.com
In other words, www.bloghomies.com is a domain name.
Numerous domain names have been sold for over $5 million and more.
These are usually domain names that are super short and highly sought after by business.
To start this business, you need to work with a domain registrar for buying domains.
I always recommend Namecheap.com, as they are very reliable.
When you buy a domain name, you can sell on a site like Sedo.com or Flippa.com.
61. Bitcoin And Cryptocurrencies
Before you delve into the cryptocurrency world, ensure you take your time to learn all the nitty-gritty.
You know why?
So you don’t end up losing money.
This digital currency is very volatile, which means it is always fluctuating in value.
There was a time a Bitcoin was $1. Today, one Bitcoin is $9,000. That is over #3.5 million if converted to naira.
You either mine Bitcoin or buy.
Since mining Bitcoin is very technical, I always recommend the buying and selling approach.
You can buy a Bitcoin today, only to say it when the value rises.
Take note that this is a risky business, as the value of a currency can reduce instead of rising.
When you’re investing, invest with an amount you can afford to lose.
62. Online Courses
Another great way to make money online here in Nigeria is to sell online courses.
If you have a skill that you can teach someone, why not convert it to an online course and make money?
It is one of the businesses in Nigeria that can make you passive income in the long run.
With a platform like Teachable.com, you can upload your course materials and make money.
63. Start A Podcast
What is a podcast? In case you’ve been living in the cave, here is a podcast means.
According to Wikipedia, a podcast is a series that often comes in episodes in an audio format. There are lots of streaming applications that make streaming and managing your content.
Podcasting is still not widespread in Nigeria yet, thereby making this online business a promising venture.
Simply choose a niche and remain consistent. With an excellent promotional strategy, you will be able to build a community.
64. Become A Virtual Assistant
Business ideas in Nigeria abound, and among them, is this interesting one that you can do anywhere.
A virtual assistant can work with an organization or individual by helping them stay organized.
A virtual assistant can help with bookkeeping, booking travel, managing emails or social handles, etc.
This business is an excellent opportunity to get in contact with essential personalities.
You can find people in need of virtual assistants on platforms like Fiverr, UpWork, Remote, and Indeed.
65. Run A Fan Page
If you’re addicted to social media, you can leverage that addiction to make money online.
There are lots of fan pages on Facebook and Instagram with lots of followers.
Do you know how they make money?
It is through sponsorship posts, affiliate marketing, and selling their products.
Who is that celebrity you love so much? Now is the time to create a fan page of that artist and build a community.
67. Edit Videos Online
If you’re good with video editing, you can make money by helping businesses edit their videos.
There are lots of video creators today, and that has open up opportunities for individuals with impressive editing skills.
You can find clients on any freelance marketplace like Fiverr, UpWork, Freelancer, etc.
Fast Moving Business Ideas In Nigeria
68. Barbing Business
Hairstylists make a lot of money, and they will not even tell you.
There are lots of guys who visit the salon almost every week.
They are either carving their beads or trying to maintain their haircut.
Starting this business is easy, but you will need to undergo training first.
Find a professional barber around and apply to work as an apprentice.
Within six months, you’ve become a professional.
With just #50,000, you can start this business and make nothing less than #10,000 every day.
The success of this business depends on location and your skill.
69. Football Viewing Center
Due to coronavirus, football viewing centers are no longer operational.
When we defeat or perhaps learn to live with the virus, businesses like these are likely to spike up.
All you need to start this business is a shop at a good location.
Here are things you will need:
- Two plasma television
- DSTV decoder
- A big standby generator
- Chairs and tables, etc.
If you want to make more money, you can start selling beer and all kinds of snacks or hot drinks.
Who knows, maybe it would expand into a betting center.
All it takes is just one step.
70. Tutorial Center Business
If you’re an exceptional teacher with a passion for academics, you can start a tutorial center where you teach WAEC and JAMB examination candidates.
You will need a good location for your center, with competent teachers that will work with you.
You can charge #5000 per student, and earn over #250,000 or more.
71. Car Wash Business
Here is another business in Nigeria that you can start and make money.
You can start as a small or medium scale business and still making boggling figures every day.
All you need to start this profitable business is cash wash detergents, a tank, hose, and a car washstand.
There are lots of entrepreneurs making big money from this business.
The cost of capital can be a little high, but don’t be afraid to start no matter how small.
72. Cyber Café
Forget the fact that many people now browse with their smartphone; this business is still lucrative.
There is a massive chunk of the population that doesn’t have an excellent device to browse.
Sometimes, there are operations that your smartphones can do.
Since not everyone has a computer, you will not regret doing this business.
Finance to start this business is high, as you will need lots of computers and some networking gadgets.
Nevertheless, the estimated monthly profit is mouth-watering.
73. Shoe Making Business
Shoemaking is a lucrative business idea that is making a lot of Aba boys’ money today.
But the first thing you need is to undergo training on shoemaking.
I was able to acquire this skill during my IT at the University, and I don’t regret it.
Although I am yet to make money from this skill, it has helped me produce my sandals and palms.
If you’re interested in this business and looking for a shoemaker to train you, do comment, and I will link you up.
With a good marketing strategy, making millions from this business is possible.
74. Pure Water Production
The demand for sachet water is increasing, making it one of the ideal businesses to start in Nigeria.
To begin, you will need to build a factor, and procure some pure water machines.
If your factory is neat and up to standard, NAFDAC will approve the business without hassles.
All you need to succeed is a good marketing strategy, and you’re good to go.
75. Bar Business
Every night, the majority of the working class tends to chill in bars and have fun.
The bar business is lucrative, one of the fast-moving businesses you shouldn’t neglect.
Understand your target market and stock your bar with their favorite drinks and snacks.
Given enough awareness, your bar will become a buzzing zone in the area.
76. Pet Breeding Business
If you’re a dog lover, pet breeding business would sound like a divine calling.
The most common pet for this kind of business is often dogs.
If you can get a quality breed, you’ll be getting lots of offers from potential customers.
Not only will your four-legged friend be your source of happiness, but income too.
77. Start A Popcorn Business
Starting a popcorn business is moderately easy.
At least, there are no strict protocols.
The startup capital for this business is #200,000, especially since you’ll need a popcorn making machine.
If you can do this business in an area of traffic like school, hospital, markets, etc., you’ll be surprised at your gains.
One crucial factor in this business is the packaging!
If your packaging sucks, you’ll discover that potential buyers resist from buying.
78. Bridal Shop Business
In the bridal business, you’ll notice a lot of abnormalities
For instance, the bride’s makeup could cost over #50,000.
Wedding gowns, cake, these are things that cost everything.
In this business, rest assured that you’ll be making tons of thrilling profits.
To start this business, you need a business plan and a beautiful complex where you display your products.
The cost of starting this business is over #800,000, assuming you pay #300,000 for rent.
79. Solar Energy Installation Business
Due to the state of things in Nigeria, homes that rely a lot on the power supply are now seeking alternatives.
Among all the business ideas in Nigeria, this is the only futuristic business.
The world is gradually tilting toward renewable energy,
The solar installation business is a goldmine, especially when you get a contract from an organization or government.
To start this business, you need to undergo training in solar installation.
There are lots of acquisition centers, seminars, and courses online that will train you.
You don’t need millions to start this business.
The only thing you need is the necessary tools and contacts of solar business suppliers.
When they get an order, they can link you up immediately.
It’s a good business in Nigeria that has massive potentials.
80. Driving School Business
The number of Nigerians who own cars is rising exponentially, making this business an undiscovered business opportunity.
Your business has to be registered with the CAC.
You’ll need a vehicle for practice.
There will be an inspection and assessment of the proposed driving school by appropriate agencies.
It’s a good business venture, since fees are mostly pricey.
81. Cement Production Business
Dangote, Ibeto, elephant; these are giants dominating the cement industry in Nigeria.
However, you can have a bite of that pie by delving into this industry.
The significant resources that you’ll need are limestone, and Enugu has an abundance of it.
Starting this business will require #5 million capital since you’ll need some vital machinery to operate.
Overall, it’s a great business that will make you fast money.
82. Phone Charging Business
It’s 2021, and the world is on lockdown due to COVID-19.
While on lockdown, the majority of Nigerians lived without electricity.
The phone is something that everyone expects to be on always.
By starting this creative business idea, they will be rushing to your store to charge.
Things you need to start this business include:
- Standby Generator
- An extension outlet
I’ve done my experiment with this business, and my findings were mind-boggling.
You will be making nothing less than #5000, depending on your location.
83. Jewelry Store
Jewelry stores are best located in high-class locations to attract wealthy customers who can afford them.
That doesn’t mean you can’t sell to the middle class or the lower class.
It all depends on the quality of the product and the target market.
Whichever route you decide to take, the outcomes are similar – they will make you money.
84. Pharmacy Store Business
If you have a knack for saving lives, maybe this is the ideal business for you.
You’ll need a Bs.c in medicine, or perhaps undergo some training from a qualified chemist.
In this business, all you have to do is learn which drugs that treat which ailments,
You could be working in a teaching hospital, to qualify as a health practitioner.
85. Social Media Marketing
There are lots of small businesses in Nigeria that needs marketing to survive.
As you might have already known, marketing is a way of getting the products and services of a business to its target market.
To make money from this business, all you have to do learn how to run social media marketing using Facebook, Twitter, or Instagram.
86. Recharge Card Printing
The recharge card printing business is one of the most remarkable business ideas in Nigeria.
It has been booming for years, and yet not everyone knows how it is done.
To start a recharge card printing business, you’ll need a dealer who will help with recharge card pins.
Be careful, as many scammers are parading themselves in as dealers.
A friend of mine is Port Harcourt lost #200,000 to scammers while trying to start this business.
87. Magazine Publication
You might think that our smartphones have ultimately sent magazines out of the market.
You are wrong, as there are numerous magazines today with thousands and millions of readers.
You’ll need some writers, graphic designers, and a printing press.
Before you start this lucrative, untapped business opportunity, ensure you draw a business plan.
It would give you an overview of the business and the chances of success.
88. Computer Repair And Accessories
If you’re a young man who loves technicalities and is looking for a business to start, computer repair and accessories will appeal to you.
There are lots of students in Nigeria that are using this business to sustain themselves in the University.
The first thing needed to start this business is training.
You must work under a computer repairer for at least one year.
It would help you know everything you need to know about the business.
Starting this business requires only small capital.
With a good business location, you’ll be making nothing less than #20,000 every day.
89. Frozen Food Business
Frozen Food Business is a profitable business that anyone can do.
It doesn’t matter if you’re a woman, man, student, or worker.
You don’t need any specialized training or skill to delve into this business and make money.
This business entails selling frozen foods like chicken.
One of the significant challenges of this business is the lack of electricity.
That means you’ll be running your generator steady to keep your goods frozen.
It’s an outstanding business that offers so much potential.
90. Ice Block Production
Due to Nigeria’s power situation, this business has become a profitable venture that can succeed anywhere.
Your target market will include sachet water sellers, soft drink sellers, or people who need a fridge to cool their products.
You’ll need a good freezer, generator, and packaging materials to run this business.
Starting this business is easy and doesn’t require any rigorous processes.
91. Shawarma Business
The last time I bought a shawarma, it was #2,000.
That is how lucrative this business is here in Nigeria.
You can become a millionaire from this business if you’re in a good business location.
The key to success is knowing how to make delicious shawarma that beats your competitors.
If you want to start this business, #150,000 is more than enough to get the necessary equipment.
92. Cinema Business
Aside from Lagos, where there are many cinemas, many states in Nigeria don’t have one cinema.
What do you think?
It is a good business that will make you good money.
Since there is no competition, making it in this entertainment industry is easy.
The obvious turnoff, however, is the huge capital needed to start.
Before you begin, draw a business plan as it would act as a guide.
93. SEO Consultant
Search Engine Optimization is a service that is in hot demand.
Many small-scale businesses with business websites are looking for ways to rank their service page high on Google.
If you’re terrific with SEO, you’ll make tons of money from your services.
Individuals who are into this business get clients via freelance platforms like Fiverr and Upwork.
94. Customized T-shirt Printing Business
There are lots of businesses in Nigeria that one can start with little capital.
One of those businesses is the T-shirt printing business.
This business is best for students, and you can start with as little as #20,000.
You will need to work closely with a graphic designer and a printing press company.
When you get an order, your graphic designer will customize the design, while the printing company handles the actual printing.
Your success lies in how effectively you’re able to market your services.
95. Landed Properties
There are lots of individuals who have millions in the bank, without any idea of a business to start.
If you have the money and yet, don’t want to involve yourself with the day to day running of a business, invest in landed properties.
The fact is, landed properties never depreciate.
They are always growing in value.
To avoid issues, make sure you process the transaction with a lawyer.
96. Haulage Business
When it comes to the transportation business, it doesn’t always have to be passengers.
The haulage business entails the transportation of goods from one location to another.
It could range from business goods to home movers.
It’s a profitable business that is underexploited here in Nigeria.
97. Gold Business
Do you know that you can delve into the gold business here in Nigeria?
One of the reasons many go into this business is because the value of gold doesn’t depreciate.
Instead, it grows in value.
It behaves like real estate, and it promises a lot of gains.
A gram of gold is over $50. If you can buy and resell when the value rises, you will be making money without struggling.
Running this business is similar to the jewelry business, except that the main focus is on gold.
What you need to start:
- A measuring scale used to determine the gram of gold
- A gold testing kit
- Security door against theft.
This business can make you a millionaire if you start in a good location.
98. Radio Station
Is your locality, do people have access to radio services?
Even if they do, are they featuring exciting programs?
You can delve into this industry and offer something unique.
Within a week of operation, your radio station is already buzzing.
However, you’ll need millions to start this business, and also a license from NBC.
99. Nylon Bags Production
Nylon bag production is among these business ideas that can make you crazy money.
But it requires enormous capital since you’ll need tons of equipment and materials to begin.
You will have to register the business with the CAC and hire competent workers too.
With a good marketing strategy, you’ll be able to build a vast customer base.
100. Rental Services
Last on our list of profitable businesses in Nigeria is rental service.
This business entails giving out canopies, tables, chairs, plates, pots, spoons, and coolers, mainly for events.
Individuals who are into this business are making a lot, and you, too, can.
Startup capital is moderate, not too high compared to establishing a Radio Station.
If your business can create awareness of the targeted market, succeeding becomes easy peasy.
101. Bread Bakery Business
102. Car dealership
103. Printing Press
105. Recruitment Agency
106. Travel Agency
107. Modeling Agency
108. Block Industry Business
109. Consultancy Business
110. Selling Building Materials
Over To You!
There are tons of business ideas in Nigeria, and each of them comes with their strength, weakness, threats, and opportunities (SWOT).
Ensure you conduct this analysis before you start a business, to know if the idea is feasible.
Among all the businesses mentioned in this guide, which one do you want to start?
Do you have any questions regarding these businesses?
Drop a comment, and I’ll respond.
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