There are over 100 small profitable businesses you can start with little capital in Nigeria. The only challenge is to identify a business opportunity, look for capital and set it up. Some businesses, though small will yield more than N1 million.
One interesting thing about most Nigerians is that they blame capital as the main reason they aren’t able to start business. But the reality of the matter is, the action of setting up a business is what matters most—you may have the money you need but lack the will to do business.
If you want to start a small but profitable business in Nigeria, here is a full list of businesses to start:
Most people would love to become bloggers because it’s well paying and requires small capital. With just N30,000, you have your own blog which you generate revenue from. Even without skills on how to create a blog, using free online tutorials, you’ll find the process so easy like munching yams. First, register a domain name, then buy hosting space, design a website and finally start posting on the blog. To buy a domain name and hosting space,click on this link to visit Bluehost
You also need a premium WordPress theme which are available at Themeforest,follow this link to acquire a professional theme.I am currently using Newspaper theme, you can buy the same as well,it costs $59 and is the most SEO friendly theme around.
To start earning from your blog, apply for AdSense, MGID or Ezoic.AdSense is the best monetization platform for Nigerian bloggers and it’s free to join.If your blog isn’t approved by AdSense, then apply for Ezoic or MGID.
Your efforts will determine the amount of money you’ll earn. If you manage over 1 million visitors per month, be assured of earning more than N300,000 monthly. There are many bloggers earning millions of Naira every month, like Linda Ikeji.That lady makes over $100,000 every single month from AdSense and direct advertisements.
- Start selling products on social media
Starting the business of selling products on social media will require little or no capital. Creating pages on Facebook, Twitter and Instagram is free, growing them is free. Some of the items to sell include, electronics, smartphones, clothes and shoes. If your products are of high quality, client base will grow over time. Eventually, you’ll find yourself starting an e-commerce company and employing several Nigerians.
What is needed most in this business is patience and trust. You will take at least 1 years to start making reasonable sales but once people realize that you offer good services, they’ll refer their friends and relatives.
- Start a YouTube Channel
Creating a YouTube channel is absolutely free but you will make millions of Naira every month if your gain hundred thousands of followers. If you have an email address, create your own channel today for free.
After creating a channel, start uploading videos as you share them on social media. The moment your followers hit 1,000 and the total watch time clocks 4,000 hours, apply for AdSense. You channel should also be at least 12 months old. Once you link the AdSense account with your channel, money will start coming in.
In Nigeria, YouTube pays $1-$1.5 for every 1,000 views a channel gets. Assuming that your channel gets 1 million views, you’ll earn more than N300,000 monthly.
- Cake Baking business
I always envy people running cake baking business in Nigeria. This is one business that will make you an overnight millionaire. Get a training in cake baking, create social media pages and a website which you will be promoting your business with, then start baking cake upon orders. There are thousands of parties, wedding ceremonies and graduation ceremonies ongoing in Nigeria.
Your clients will be ordering the cakes online; deliveries will be done in time through special delivery vans.
Cake baking business will require a capital of N300,000 to N3 million based on the size of your clients. You can make a profit of more than N100,000 per day.
- Register your car with Uber
Instead of wasting money on fuel for your car, register it with Uber and start earning N150,000 to N300,000 every month. Online taxi business is the way to go and Uber is the best App to register with and earn a decent living. The more cars you register with Uber, the more money you earn every month.
Farming potatoes, tomatoes, carrots, yams, beans avocado, cassava spinach and other profitable products won’t take your fortune—the capital required is so little. I know most Nigerian youths prefer office jobs to farming but the reality is, farming is more profitable, more flexible and satisfying. One-acre piece of land is enough to grow crops that can yield more than N1 million in six months.
Web Design Business
A capital of N100,000 is enough to start Web design business. But it’s important to start one when you possess excellent skills in graphic design. Over 2,000 websites are created in Nigeria daily and the work is done by Web Designers. To create one website, a client will pay you more than N70,000. Those clients aiming to own online shops will fork out up to N600,000 for an e-commerce website.
- Fast food restaurant
Fast food restaurant is ideal for capturing the interests of youths. Chips, chicken and fresh juice are some of the food youths love. A sizeable restaurant will cost you N1 million to start but it will generate at least N20,000 per day. The business is suitable in major towns like Lagos and Abuja.
- Become a Ghost Writer
Ghost Writer is someone who creates content for other blogs and get paid for the services. Several blogs in Nigeria buy articles from Ghost Writers. Your only main task is to promote your services online—create social media pages which you will use to market yourself. Send emails to blogs you believe might be interested in your articles. Guest Writers earn up to N500,000 per article.
- Start affiliate marketing business
Affiliate marketing is the best business to do online in Nigeria. Some companies, like 22Bet can pay you more than N1 million per month. In order to become effective in affiliate marketing, you have to choose a profitable niche like web hosting, e-commerce or betting—you should market the products through reviews on your blog. To create a blog for affiliate marketing, spend less than $50 by registering a domain name and buying hosting package from Bluehost,click here to visit Bluehost website
Affiliate programs pay commissions on sale—the more you make sales, the more you earn.
- Sell betting tips online
More than 20 million Nigerians bet on football matches every month, at least 1 million buy tips from established predictions sites. Selling betting tips is a lucrative business, it can generate more than N10 million every month. Establish your own website and start offering the service. To begin with, offer free tips to your audience to create confidence, then start providing premium predictions.
Avoid selling tips on Facebook because your account can be suspended. Creating a blog will cost less than N100,000.To get started,follow this link and create a website
You will need a WordPress them specifically designed for betting tips, there are many available at Themeforest for as low as $10.Click on this link to get one
- Start betting on football matches
You can also start betting online for football matches with a capital of even N100.This is something you can enjoy doing as you make money.22Bet is one of the betting companies that offer the best welcome bonuses for new members.to join the site,click on this link
- Taking photos and selling online
Becoming a photographer may not be a popular idea for most youths but it’s a profitable business. Several companies buy photos from individuals and one can sell on photo upwards of N100,000. Shutterstock is one of the companies that buy photos online.
- Start Electronics Shop
Electronics shop will not cease to be profitable because people must own smartphones, televisions and laptops. If you can set up your business in a strategic street in major towns and own an online shop, you’ll earn in excess of N1 million every month. It’s hard to register losses when you own an electronics shop in Nigeria.
The capital for starting this business is N1 million to N10 million.
- Become an Influencer
Create social media pages for free and become an influencer. Comedians, journalists and musicians stand the best chances of making it as influencers. Companies will flock to your inbox for advertisements—you will be charging at least N100,000 per sponsored post.
For one to become successful, they have to own popular Facebook, Instagram and Twitter pages, which should have more than 1 million followers each.
There is no capital required for starting online marketing, or becoming an influencer.
- Offer CV, Cover Letter writing and HR Consulting services
Create a blog where you’ll be posting job vacancies regularly. In addition, offer CV and cover letter writing services for job seekers. Your clients will pay you to post job vacancies, job seekers will pay you to create CVs and Cover Letters. Millions of Nigerians are actively seeking employment opportunities and having a successful blog will pull in handsome amounts of money.
- Buy and sell old stuff online
It’s not everyone who can afford brand new clothes, there are people who prefer old stuff. Companies like OLX are making a kill online by buying and selling old stuff.
I know of a number of Nigerians who would like to dispose old clothes, shoes, electronics and smartphones but there’s nobody to buy them.
- Run a chemist shop
There is no single day a chemist will lack customers; people will always get sick. The good thing about chemist business is that you fix the prices of products depending on demand. In a bad day, a chemist will generate N20,000, that’s if it’s set up in town with heavy human traffic.
- Start an executive salon
Start an executive salon plus massage and SPA services and see how many customers you will get in a day. Women love beauty and men love massage. Your business will always get customers if it offers high quality services.
- Start bee keeping business
Bee keeping is one of the untapped business opportunities in Nigeria. Doctors advise many patients to buy pure honey but the available honey in shops is not genuine. If you have land, bee keeping business is ideal for making you a millionaire within a short time.
The capital needed to start bee keeping business range between N100,000 to N1 million. You need about 10 beehives to generate decent income.
- Run a jewelry and cosmetics shop
You won’t go wrong if you start selling jewelry and cosmetics, but your source should be China, Dubai, UK or USA where quality jewelry is available. In Dubai, you will buy one item for $100, ship it for $20 and come to sell the same for $1,000 in Nigeria.
- Start a car wash business
In major towns, there are numerous cars which need car wash services. Make sure you stand out by starting a cheap car wash which serves all types of clients. If you are employed, I can assure you that you will quit after few months of starting a car wash business—it’s very profitable.
- Start a motor vehicle garage business
A garage is something you should always think of starting even when you don’t possess relevant skills. You know, most car owners know nothing about their cars. They will bring it to the garage and when you look at it, realize that it’s perfect condition but you end up charging them N20,000 for just looking at the car.
Without relevant experience, you’ll be forced to hire mechanics to work for you.
- Start a wines and spirits shop/Pub
More than 70% of the population in Nigeria drink alcohol. Wines and spirits business is one of the profitable businesses to start to cater for the growing number of people taking alcohol. You will rarely make losses if you employ trustworthy people.
- Data Analysis services
Statisticians, mathematicians and actuaries should make millions of Naira by offering data analysis services. In addition, they can offer academic writing services to university students.
To begin the business, create social media pages and a blog which you will be using to promote your services.
In a month, if you get 100 clients, you’ll make more than N1 million.