There are many things that’ll make you dive into one business or the other in Nigeria. As we all know, jobs these days are very difficult to come by. Nigerians turn to business to make a living and earn. Along the years, different businesses have risen and fallen as times are changing and not all businesses can stand the test of time.
If you have a limited capital or you just don’t want to make the wrong choice, don’t worry, in this article, we will be talking about 10 business ideas to start in Nigeria. These ideas are not new but in current times, they will give you the returns you seek. Capital is also a very big problem if not the biggest when starting a business. In this list, we’ve selected business ideas that surely wont break bank. So let’s dive straight into it, here are 10 business ideas to carry out in Nigeria;
Also Read- Are Nigerian Youths/Graduates Really Unemployable?
1. Agriculture Business
This business section remains one of the most profitable business to dive into in Nigeria. Agriculture business itself is a very broad venture but here are a list of the most profitable;
- Palm oil business
- Cat fish business
- Snail farming
- Poultry Business
- Pig farming
The start up capital for the above listed business varies. It also depends on how large or how small you’ll like to start. There are three major factors to consider if you wish to maximize profit in the agriculture business;
- Choose a less saturated target market- In Nigeria, location matters a lot when diving into any business for that matter. Choose a location where there is little or no competition.
- Make thorough Research- Every business especially agriculture needs a lot of research before you begin.
- Make sure when buying any product, you don’t go through middlemen, try your very best to buy your goods from the source itself if possible. This will help you minimize cost.
2. Laundry Business
This is a business very few people think about. Dry cleaning services are one of the most patronized businesses in Nigeria. The most crucial factor in this business is location. If you can get the right location, your business will bloom. Here are the major things you’ll need to start a laundry business in Nigeria;
- Generator
- Washing Machine
- Dryer
- Steam Iron
- Hangers
- Stable Water Source
- Others (detergent, pegs, packaging, bleach, starch, stain removers…etc)
3. VTU & POS Business
Virtual top up(VTU) and Point of sales(POS) business go hand in hand. VTU includes sales of data, airtime, recharge card pins, cable subscriptions, electricity bill payments etc. You can even create your own VTU website and earn a very high amount of money, we recommend opening an affiliate website with cyber data hub. POS business involves cash withdrawal, deposits, transfers using a POS terminal. The good thing about POS business is, getting terminals in Nigeria today is far easier than it used to be. In the past, it was majorly banks that offer POS terminals and the procedures were hectic. Now, there are many applications and organizations that offer POS terminals some even free of charge. Here are some requirements to start a POS & VTU business in Nigeria;
- A cheap source for data, airtime and other vtu services. We recommend cyber data hub.
- A POS terminal
- Start up capital of at least 50-100k
- A small shop/outlet in a busy location.
Also Read- How To Create and Own a VTU Website in Nigeria
4. Cyber Cafe Business
The rise of smartphones, laptops and technology in general really did a number on cyber cafes in Nigeria. Even so, are there very little cyber cafes in your area? This is definitely a good opportunity to jump on that business. Cyber cafe business is a very large business that covers a wide range of services including;
- Typing and Printing
- Photocopying
- Scanning
- Computer Training
- Website Development
- Graphics Design
- Virtually every other service that involves a computer or has to do with IT
The good thing is, you can start small and grow into a very large business. Location is also a huge factor as cafes closer to schools, universities, churches and open areas are bound to do well. Here are some equipment involved in opening a cyber cafe business in Nigeria;
- Photocopying Machine
- Computer(s)
- Generator
- Laminating Machine
- Printer
- Internet Connection
5. Blogging
This particular business is more of a “well paying hobby” than an actual business. If you dive into blogging, it’s better you combine it with another paying business. You can dive into blogging full time once you begin making a stable income from it. Blogging has to do with creating a blog which is a website where you can post or write about certain topics. The only way to make money from blogging is by growing your audience then monetizing the traffic you get from your blog. Blogging is not quite difficult and you can earn unbelievable sums as a blogger, here are the requirements to start blogging;
- A domain name eg; Techranter.com
- Hosting from hosting providers like namecheap
- A laptop or Computer
- Power supply
- Internet Connection
6. Vlogging
Vlogging is just like blogging but instead of text, it’s all about videos. Are you good at creating videos? Then this might be your ticket to making money from what you love. Youtube is the number one place for posting videos with their billions of daily users. You simply create your own channel and post unique videos on a certain topic or nich. As your subscribers grow, you monetize your channel using the adsense program and earn steady income monthly. Here are the requirements to start vlogging;
- A Youtube account and channel
- A video camera or a nice phone with a high resolution camera
- A laptop or Computer
- Power supply
- Internet Connection
7. Transportation Business
This is a very nice business in Nigeria, the best part is, you don’t even have to do it yourself. People are always moving. It may be within a particular state you decide to run your vehicle or you can run from state to state.
You can start with small capital or big capital. Become an uber driver with your car for extra income. You can also get tricycles(KeKe), Taxis, shuttles or bikes depending on your location. The major things needed to start a transportation business in Nigeria;
- A vehicle (Bus, Taxi, Shuttle, Motorcycle)
- Trusted Drivers
- A well planned out transportation route
- Registration with transport association in that area
- Capital for fuel and maintenance
8. Food & Eatery
This is one business that will always move irrespective of the location you are, after all, everyone has to eat. If you have good cooking skills or you can employ someone who can, you can supply food to small and large occasions. This is one of those businesses where the skill itself is what would lift you to greater heights. Once someone tastes a dish you prepare; cake, soup, or even pastry like cakes, doughnuts, if it tastes delicious, you’ll surely be recommended. To begin a food and eatery business, these are the major requirements;
- Great cooking skills
- A sterile kitchen and outlet
- utensils and Ingredients
9. Online Marketing
Never underestimate the power of am online presence. There are billions of users online every day on social media. You can sell any product to your desired target online and make huge profit. You don’t ever have to experience the stress of offline sales if you can utilize the power of the internet, you can just make your cool cash everyday. When we say online marketing, you do not even have to own the product being sold. Simply meet whosoever is marketing that goods, know the cost price, add your profit and advertise online. Here are the things you’ll need to start online marketing;
- A smartphone or Laptop
- Social media accounts
- Steady Internet connection
- Power supply
10. Clothing and Accessories Business
This is another great business in Nigeria, sales of clothes, wears and accessories will always move irrespective of your location. The only thing you have to look out for is competition. It’s easy to make cool profit from the clothing line especially when you have access to a direct supplier and not middle men who’ll end up inflating the price. This business covers a wide range of items which include;
- Shirts
- Trousers
- Jewelries
- Watches
- Hats
- Gowns
- Earrings and lots more
There are many more business ideas to share and more will be added as this article gets updated. Did you have anyone in mind? Something you would like to add? Tell us using the comment section below.
