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Most Profitable Business Ideas in Nigeria You Can Start

Most Profitable Business Ideas in Nigeria You Can Start

Most Profitable Business Ideas in Nigeria You Can Start

  1.   Farming Business
Certainly, farming is one of the highly rewarding business anyone can start. In Nigeria today, young people are venturing into agriculture and we are experiencing the needed shift from the saturated oil sector to agriculture. And this is very commendable even as the government has shown increased interest in agricultural sector recently. Therefore, there is no better time to invest in this sector than now.Business Ideas in Nigeria
For a start, determine the agricultural problems people face and proffer solutions to them with your product. After all, business is all about solving problem.
Business Ideas in Nigeria
  1.  Poultry Farming Business
Poultry farming means rearing different kinds of domesticated birds like chicken, ducks and turkeys for the purpose of producing meat, eggs and feathers. Overtime, poultry farming business have proven to be lucrative,
especially chicken rearing.
Sources have it that farmers currently raise more than 50 billion chickens annually. You will need to choose the type of poultry farming to engage in. For instance, there are two types of chicken farming: Layers and Broilers. Layers are chicken raised to produce eggs while Broilers are chicken you raise for meat. Business Ideas in Nigeria
Business Ideas in Nigeria
Business Ideas in Nigeria
  1. Liquid Soap Production
The market for liquid soap in Nigeria is so large that the well-established brands are not meeting demand. 
Every household in the country needs this product. So there will always be a demand for it. You just have to be the one supplying.
If you look around you, you will find homemade liquid soaps with no branding at all, packaged in used plastic bottles being sold for between N50 and N100. With a little investment, you can make so much money producing liquid soap and selling to supermarkets and other shops that retail to end-users, restaurants, bakers, caterers and home keepers. Business Ideas in Nigeria
You may have to acquire some training that is available at vocational centers run by churches, government, and non-governmental organizations. Create a large market by branding and fine packaging and you will smile to the bank
Business Ideas in Nigeria
  1. Pig Farming
Pig farming is the breeding of domestic pigs as livestock. Basically, pigs are farmed for food e.g pork, bacon and gammon. Piggery is a profitable business and you can get return on your investment within a short
period. Business Ideas in Nigeria
First thing to do is to select a suitable land and choose the proper pig/piglet breeds. Actually, you can choose both local and hybrid piglets. However, for business purpose, a cross breed of hybrid and local breeds is the best.
Another thing to note is that pigs are sensitive to heat and they may become sick and die due to excessive heat. So, proper housing is necessary to keep them warm.
Business Ideas in Nigeria
  1. Ice block Production and Sale
Nigeria is located within the tropical climate region with an abundance of sunlight and heat.
Unfortunately, the electricity supply is very poor, making it difficult for homes to maintain adequate stock of cold water in their refrigerators. This is what makes ice block production a money-spinning business in Nigeria.
People require ice blocks to keep their water and drink cold. Your market includes households around your neighbourhood, retail shops, restaurants and bars that need to keep their drinks ice-cold at all times.  Business Ideas in Nigeria
The good thing about this business is that you can kick off with the little you have. You need A deep freezer as well as a medium-sized generator and you’re all set. As you make money, you can scale up by acquiring an ice block making machine
Business Ideas in Nigeria
  1. Blogging
If writing comes naturally to you, you can equally turn that to a business. Currently, blogging is one of the ways to make your own good money’. Although, it takes hard work and patience to build a sustainable blog, It is always worth it at the end. An example is Linda Ikeji. You just have to keep providing relevant content and maintain the standard you started with.
Blogging is the act of creating content for the web. A blog post is posted in the blog category on your website. Of course, you can start with common blogging platforms e.g bloggers.com until you are able to build your own website. There are different ways you can earn from your blog like: google ad sense, affiliate marketing, sponsored post, banner ads etc. Business Ideas in Nigeria
Skills to Learn while in Lockdown
  1. E-commerce Business
A perfect example of e-commerce business is Jumia and Konga. Statistically, e-commerce has experienced great growth since 2010. Infact, customers prefer to buy from an online store than visiting physical locations. To start this business, follow the steps below:
  • Find an appropriate name and register it with CAC
  • Setup your own online store
  • Register with a secured payment gateway
  • Explore the right marketing strategy
  1.  Mining Business
If you have the resource and is interested in mining business, now is the right time to jump in. As a matter of fact, mining is one of the highest contributor to Nigeria’s economy.
You can start by choosing the mineral you want to focus on, mine it and sell. Some of the minerals include: iron ore, coal, gold, sapphire, emerald etc. It will interest you to know that there are several sites in Enugu, Niger and Zamfara states that are rich in iron ore.
Business Ideas in Nigeria
  1. Fish Farming Business
Fish farming has great opportunities and you can start small from your house. Firstly, to start a fish farm, you need ample knowledge about fishes and how they are taken care of. Also, you have to learn the business side of fish farming.
If you are starting in your house, you will need a space probably at your backyard where you can dig a fish pond. Moreover, you can raise fish in tanks, containers or tubs.  Business Ideas in Nigeria
Some of the equipments you will need include:
  • Net or Seine Reels
  • Fish tank
  • Aeration devices
  • Handling and grading equipment
  • Water testing equipment
Business Ideas in Nigeria
  1. Wine Bar Business
Usually, wines are consumed at homes, restaurants, events, and special occasions. If you know so much about wine, you can establish a wine bar business. Importantly, wine bar business is location driven, so ensure to find a good location that will drive sales.
Business Ideas in Nigeria
  1. Fashion and Beauty Services
Currently, there’s so much societal pressure on women to look perfect. So, if you are looking to get a piece of the beauty business pie, now is the time to begin. The fact is that beauty business has a wide horizon and it demands that you find your niche in the industry.
Some of the beauty business you can start include:
  • Beauty TV production
  • Eyelashes and nail studio
  • Dermatologist
  • Beauty consultant
  • Perfume production
  • Manicure and Pedicure business
  • Cosmetic Store
  • Spa business
  • Skin Clinic
  • Beauty blog
  • Tatoo business
Business Ideas in Nigeria
  1. Barbing Salon Business
Truly, barbing salon business is one of the ventures that has stood the test of time. Practically, men visits the salon at least once in two weeks to have a haircut. Interestingly, it costs little to start the business. As a matter of fact, if properly managed, you can make a fortune from running a barbing salon. Business Ideas in Nigeria
Business Ideas in Nigeria
  1. Personal Chef
If you plan to own a catering company someday, personal chef is a good way to test the waters. Usually, personal chefs prepare meal for busy families, workers, birthdays, small party, anniversaries and so on. To a large extent, the income depends on experience and the type of food requested for.
Business Ideas in Nigeria
  1. Printing Company
Printing Business is one of the businesses that keep evolving every time, but requires good managerial skills and expertise to maintain. To begin with, you can start a printing company on a large or small scale, depending on your capacity. Business Ideas in Nigeria
You can partner with an already established printing press for a start. In other words, you will get the contract while the printing press handle the execution at an agreed discount. In the meantime, build your clientele and gather enough money to establish your own printing press.
Business Ideas in Nigeria
  1. Interior Design Business
You don’t necessarily need a college degree to start interior design business. Notwithstanding, you must study every bit of the business before launching out. Generally speaking, clients love to hire experienced designers to decorate their homes. Still, you can pave your way into the industry with some clever marketing strategies. Business Ideas in Nigeria
Business Ideas in Nigeria
  1. Food Business
An idea that serves everybody will remain viable for a long time. However, history has it that many food businesses pack up within a short period.
To avoid being part of the statistics, you need to follow the under listed steps:
  • Choose the area of food business you want to operate in. Options include: baking, restaurant, catering services, fast food shop, biscuit making etc.
  • Conduct thorough research in your niche market
  • Focus on giving irresistible taste and stick to it
  • Package your service in a unique way
  • Be up-to-date with current trend in your industry.
Business Ideas in Nigeria
  1. Graphic Designing
Graphic designers play around colours and images to create items like calendars, magazine, brochures and sometimes, web design. In actual fact, if you can learn graphic design skill and add your creative prowess to it, you can get this business up and running. Moreover, its a business you can run from home or on a freelance basis. Business Ideas in Nigeria
  1. Waste Management
Actually, waste management is still quite new in Nigeria and it’s a business future forward people should consider. Basically, the business is all about packing and recycling waste to help achieve a neat and healthy environment.
To begin, you can venture into direct waste management. Alternatively, you can focus on non recycling or middle man waste management.
Business Ideas in Nigeria
  1. Football Viewing Centre
Football is one of the sports that engages people almost every day of the week. Amazingly, football lovers sees it as more fun to watch a match at a viewing centre than at home. So, the demand of viewing centers are on the rise. To start this business, all you need is a big TV screen, power, decoder and space.
If you are wise, you can also include sales of other items that will interest your audience. That way, you are making a double income.
Football Viewing Centre
  1. Security Company
In the aspect of security, Nigeria is still growing, as a result, there is increased demand of security services. If you are an aspiring entrepreneur or investor, you can start a security training and recruitment company. Alternatively, you can start bodyguard agency or sales of security products.
Security Company
  1. House Painting
House painting business is one of the easiest and less expensive business to start. As a result, there is stiff competition in the business. So, to excel, you will need a good business model and image that sets you apart from existing painters.
Furthermore, you can either purchase your paints or produce them yourselves. The latter puts you in better control of your earnings than the former.
House Painting
  1. Driving School
Before anyone can drive a car, they must learn how either from friends, relatives or a driving school. So, this opens up another business opportunity for you; a driving school. If you have a car, and can also teach how to drive, you are good to go.
Nevertheless, before you begin, you will need to find out the state’s requirements for starting such business and settle that first.
Thereafter, develop your driving school curriculum, set your prices, get a location and start advertising.
Driving School
  1. Hamper / Gift Basket Business
Certainly, you will have lots of fun moments running hamper business. Really, some people develop headache deciding the best gift to get for their loved ones and you can make cool earning relieving them of the stress.
All you need to do is buy different gift items, put them together in an attractive basket or container with some light decorations and you are good to go. On the other hand, you can package gift items for occasions and festivals like Christmas, Easter, valentine and so on. You will make a good profit running this type of business.
Hamper / Gift Basket Business
  1. Social Media Marketing Agency
Although, social media began with the idea of connecting with friends and families, but it has grown into a weapon to drive business growth. Most times, business owners are too busy to handle their social media accounts themselves. As a result, they outsource the task to social media managers. Business Ideas in Nigeria
Practically, this business is still revolving and there’s no perfect time to start than now. That said, what does it take to be one? You need social media knowledge and exposure. Yes, its that simple.
Another thing to note is that, social media management is broad. So, if possible, you can combine two or three of the services. Option includes:
  • Social media account set up
  • Designing graphics and posting on behalf of clients
  • Developing social media strategies based on client’s goals
  • Increasing the number of clients followers
  • Staying up-to-date and sharing trends relevant to the clients business
  1. Palm Oil Business
Palm oil is good for the heart, they say. So, asides making money running a palm oil business, you will also be helping in increasing the life span of your customers.
To begin with, you can either be the palm oil producer or operate as a reseller. After all, both are profitable. So, the choice is yours.
Palm Oil Business
  1. Tomato Farming Business
This business is rewarding, and at the same time, not expensive to start up. However, before you start the tomatoes business in Nigeria, you’ll need to find out what type of tomatoes are in demand. This information can be gotten from those who supply seeds, as they will be able to inform you better on popular demand. Also, they will let you know the varieties that are patronized best. You will also need to ensure that the seeds you finally pick will grow well.
  1.  Cosmetics Business
If you love beauty, then going into the cosmetics business will be your best bet. For you to do well in this business in Nigeria, you will need to engage in some deep research.
Why is this important? This is because you will need to learn new things about the cosmetics industry that will keep you up to date, creative and innovative in business.
  1. Plantain Chips Making And Sales
You have seen it everywhere – the delicious crunchy snack made from unripe plantain. Hawkers sell them along the highways. The catch is, you probably did not realise how lucrative it is.
What else, you don’t need to be a UAC or Leventis Food to engage in the plantain chip business in Nigeria.
A small-scale plantain chip enterprise with an initial investment fifty thousand is capable of returning N10,000 in profit daily. If you’re looking for business ideas in Nigeria with low capital, you should really consider this.
You can start this right from your kitchen. Just place your brand name on the transparent nylon, and you’re good to go. You will need to get some coaching from someone already doing the business, learn some recipes and develop a supply chain both for your raw materials (plantain) and finished products.
Plantain Chips Making And Sales
  1. Recharge Card Distribution
As long as there is phone, there will always be demand for recharge cards. Now, if you want to start recharge card distribution business, you will need a computer, software, printer and paper. In as much as you have large customer base, you have a better chance at succeeding in the business.
  1. Property Management
Basically, property management is about managing the day-to-day activities of properties that are available for lease. Property management does not require certification to start. However, you will need to liaise with people like landlord, tenants, developers and contractors.
In addition, you will need to familiarise yourself with landlord-tenant laws and other relevant laws. As simple as the business sounds, it also comes with its own challenges. But, if you know how to manage real estate well, you are sure going to thrive in the business.
  1. Mini Importation or Exportation
Before now, import and export business is for the big goons. But, today, even someone at the bottom of the pyramid can dive into the business. All thanks to technology.
In this business, you can make as much money as you deem fit. To begin, you need a personal computer, valid e-mail and home address, internet access and knowledge on how to run the business. So, you can enroll in a mini importation/exportation class for in-depth knowledge.
  1. Pop Corn Production
Pop Corn is also one of the businesses you can start with small capital. Besides, there’s no special requirement to establish this business. If you can master how to use the pop corn machine (which does not take long to learn), and the basic knowledge on how to make pop corn, you are good to go.
In addition to that, you can adopt a unique packing style for your popcorn. Moreover, time has proven that packaging sells before the product.
  1. Content Writer / Author
The demand for content writing services will remain, as long as there is internet. So, if you are a good writer, you can make earning by writing content for websites, individuals and businesses. On the other hand,
you can write a book and sell on platforms like amazon, etsy shop, shopify and so on.
  1. Plantain Chips Production
Have you ever be stuck in Lagos traffic? If you have, you will agree with me that plantain chips is one of the stress relievers you can find in that moment. So, there’s a ready market for this business. Interestingly,
it doesn’t cost a lot to start this business. You can start on a small scale and increase your production as business improves.
  1. Pharmaceutical Services
How often do you hear the word, “I have fever”, “I am Cold”, or “I have Malaria”? More often than not, right? Needless to say, the first place these set of people visit is a nearby pharmacy. So, there’s sure cash for grab here as well.
There are rules guiding the sale of drugs and its regulated by Pharmaceutical Council of Nigeria (PCN). So, ensure you register with them.
  1. Butchery Business
Meat business is a good business that has not lost its charm. Statistically, the percentage of people that eat meat far outweighs those that doesn’t. In spite of that, you will need butchery knowledge and good strategy is must have.
For instance, there are regulations and enforcement agencies in control of this industry. So, familiarise yourself with the industry as much as you can.
  1.  Cold Room Business
Cold Room business is one of the silent million making business in Nigeria. On one hand, you can start a cold room where you sell pre-packaged food items like frozen foods, yoghurt, ice cream, ice block, soya milk, prawns
and so on.
On the other hand, you can operate a cold room where customers store their perishable items for a fee and pick up at their convenient time. This is particularly a great idea when you consider the electricity condition in
  1. Computer / Phone Sales
Nowadays, there is a stiff competition in the sale of electronic gadget in Nigeria. Nevertheless, it remains a fertile venture to invest in.
As a beginner, you can be a distributor for a leading brand. Alternatively, you can buy in bulk, get a showroom and display the items for prospective clients to see.
Above all, like any other business, employ good marketing technique that will stand you out.
  1. Electrician
If you have experience with joining wires, repairing metres and related equipments, then setting up your own electrical business is ideal.
On the contrary, this business is not only for illiterates. It’s a lucrative venture that is even studied in college. In a nutshell, you can establish this business with an of entrepreneurial state mind.
  1. AC Repair Business
Virtually every modern office or home have air conditioners. Actually, this appliance is expensive to replace, so most users opt for repair when theirs become faulty. If you are good with AC repairs, you may want to consider it as a full blown business venture.
For a start, come up with a price list for all services types you offer and market the business in your area. At the same time, talk to property management companies to get you on their vendor’s list. Try to also get contracts with commercial property owners.
  1. Tiling Business
Starting a tiling business is easy provided you have hands-on experience in tiling. Regardless, to turn your tiling experience into business, you need to sharpen your tiling skills. You can register for a tiling class to achieve that.
In the same vein, you will need to have all your equipments handy. e.g carpenter’s squares, chalk line, tape measures, notched trowels etc.
That being said, customer acquisition is paramount. And, you can get them by networking with other contractors and developers. Word of mouth is also a powerful marketing tool to deploy.
  1. Bead Making
Its no longer news that beauty business is gaining grounds than before. Obviously, everyone loves to look good. So, the demand for beaded necklace, bangles, bags and earrings is on the rise.
Basically, the primary thing you need is to get bead making training but in this business, creativity is equally important. With hard work and flexibility, you are on your way to profit making.
  1. Footwear Making
Everybody wears shoes. Literally, footwear making is a business that provides one of the basic needs of man. In truth, its a business worth every penny you invest into it.
Basically, there are two ways to start footwear business
  • Learn the skill as an apprentice, afterwards, start the production yourself.
  • Employ skilled staff, and handle the management aspect of the business.
Equally important, you need to find your niche. Are you focusing on men, women, or children footwear? Are your shoes going to be formal or informal? Selecting your niche gives you a sense of direction.
  1.  Bag Making Business
Bag making business requires creativity, skill and business knowledge. To a large extent, the startup capital depends on your business model. You can either start hand made bags or an assembly line.
To thrive in bag making market, you need to introduce new, quality and beautiful concepts. Although, there are lots of players in the industry, you can make yourself noticeable.
  1. Voice Over Artist
Do you have a naturally attractive voice? Do you have what it takes to project brands to the public? If yes, voice over is the way to go. Truly, voice acting is one of the most rewarding business you can venture into.
Especially, when you consider the diverse range of clients you can work with. Plus, the potential to make as much money as you like.
For a start, you can offer your service for free to companies. Moreover, you need to project yourself as an authority in your field before client can begin to trust you. Also, you can network with other voice over artists that can connect you to prospective clients.
  1. Babysitting Business
Babysitting is about the cheapest business to start. Babysitters can make as much money as their schedules permits. Obviously, it does not take a lot to be one.
On one hand, you can operate a part time service where parents call you to babysit their kids whenever they have an outing. On the other hand, you can be a full time babysitter working for just one family.
  1. Day Care / Creche Services
Day Care Services involve taking care of infants, school-aged children, pre-schoolers and so on. To begin, you need to choose the kind of daycare service to offer; either in-house or centre based. Whichever you choose,
ensure to get the necessary license to operate such service in your chosen community.
Also, create a workable contract between your company and the parents to avoid unnecessary problems.
  1.  Bureau De Change
Bureau De Change is like starting your own mini-bank. Not only that, it’s a business you can make a fortune from, if done right.
A bureau de change make money from selling and exchanging currencies. In other words, they buy and sell foreign currency at different rates.
  1. Hotels and Bars Business
Africans have appetite for relaxation and partying. Thus, hotels and bars will keep making money. In any case, while you can make a lot of money from this business, it requires good marketing survey and taking informed decisions. Although, it is capital intensive to start, it is also quite lucrative.
  1. Laundry Mart Business
Given the constant need for clean and ironed clothes, investing in laundry business is not out of place. Also, consider that a large percentage of the world population are part of the worldwide work force, and so, have little
or no time to get their clothes washed, talk more of ironing.
For a start, learn all you can about laundry business. Subsequently, create a name for your business and register it. Also get the dry cleaning equipments and set your price.
I must stress that good packaging most times, drives the laundry mart business. So, endeavour to fashion that into your strategy from inception. With that in place, you can go ahead to promote the business to your target market.
  1. Clothing/Shoe sales
Imagine yourself going out without clothes. You may have probably said ‘God forbid’. That tells you how important cloth is to humanity and we cannot get enough of it. It’s the same way with shoes as well, except you are a member of celestial church.
In this business, you can either start your clothing line or sell other people’s clothing line: whichever rocks your boat. Practically, you can buy a cloth and shoe for N6,000 and sell at N12,000, depending on your clientele.
  1. Tutoring
If you are looking for a cost effective and easy business to start, tutoring is worth a shot. Sometimes, students need broader knowledge on what was taught in class especially in some subject areas. You can tutor students in different level i.e elementary, secondary or tertiary.
Essentially, for a start, you need ample knowledge of the subject you want to teach and the ability to convey it in a simple way. Actually, there’s cool cash for grab in tutoring business and it has quick growth potential. 
  1.  Coaching Business
Do you have passion for coaching people or creating impact in the world? If yes, then you can consider a coaching business. Coaching business is wide so, you have to specify which category to play in.
For instance, you can consider being a business coach if you’ve garnered business insight that can help aspiring entrepreneur start out effectively. In other words, ensure you have the resources, expertise and experience in any field you choose to coach people on.
Interestingly, there’s no limit to the income you can make in this line of business. Although, the income may not come immediately you start the business.
Some of the coaching businesses you can start include:
  • Public speaking coach
  • Customer Service Coach
  • Confidence Coach
  • Life coaching
  • Business Coaching
  1. Bakery Business
Bread, pastries, cakes and other baked-related foods are rated among the most in demand. Truth is, starting a standard bakery business can be expensive. In fact, its one of the businesses that demands a sizable starting capital.
However, you can start with a mini bakery. There are generally four types of bakeries: counter service bakeries, specialty service bakeries, sit-down bakeries and online bakeries. As the case may be, you can either offer one of the four or consider combining them.
  1. Pure Water Factory
Water consumption is unavoidable. This is another ‘EEE Business’ (Essential for Everybody Everyday). The truth is, water is essential to life and this might be the right idea for you. No doubt, pure water business is profitable
but it is expensive to start.
The good news, however, is that you can start out on franchise where you work with an already established pure water company. With that, you only pay a franchise and other production fee.
Another option is to start as a distributor. All you need is a vehicle to convey the sachet water to retailers and consumers alike.
  1.  Ice block Production and Sale
Nigeria is located within the tropical climate region with an abundance of sunlight and heat.
Unfortunately, the electricity supply is very poor, making it difficult for homes to maintain adequate stock of cold water in their refrigerators. This is what makes ice block production a money-spinning business in Nigeria.
People require ice blocks to keep their water and drink cold. Your market includes households around your neighbourhood, retail shops, restaurants and bars that need to keep their drinks ice-cold at all times.
The good thing about this business is that you can kick off with the little you have. You need A deep freezer as well as a medium-sized generator and you’re all set. As you make money, you can scale up by acquiring an ice block making machine.
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