15 Lucrative Businesses In Nigeria With Small Capital

Lucrative Businesses in Nigeria
lucrative Businesses in Nigeria

If you have been looking for a very lucrative businesses in Nigeria you can start with little or high capital that will yield you a decent income on a regular basis, then this article is exceptionally written for you and will surely got you covered. just read on the discover more lucrative business ideas in Nigeria.

With the increasing rates of unemployment in Nigeria, it is becoming crystal clear that venturing into a business is now the surest way to yield survival. Infact, it is now clear that being unemployed is dangerous but not venturing into one of the lucrative businesses in Nigeria is suicidal.

One does not really need to be rich or posses a high capital before venturing into one of the lucrative businesses in Nigeria, irrespective of your capital strength, there is surely a lucrative business in Nigeria you can start with and gradually grow bigger.

It is to be noted that more than 50% of Nigerians are unemployed this is mainly due to the massive numbers of graduates being produced yearly by various Tertiary institutions in the country which ultimately increase the rate of competition for the available jobs spacing.

This alone shows the importance of venturing into one of the lucrative g business in Nigeria. having said this, let’s briefly take a look at the importance of being self-employed.

RECOMMENDED: Top 12 highly profitable businesses you can start with low capital

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ADVANTAGES OR IMPORTANCE OF BEING SELF-EMPLOYED.

  1. You are the boss of yourself and therefore no one can fire or dictate for you.
  2. You choose when to work and also decide on who to work with.
  3. You alone deserve the right to hire or fire an employee.
  4. you have in-depth knowledge of what is working and what is not working and also have the capability to get something fixed.
  5. your salary is not determined by third-party. you pay yourself as at when you like.

These are just a few of the many advantages of being self-employed. now let’s take a look at the lucrative businesses in Nigeria you can start with either high or low capital investment and generate a good or decent return within a short period.

HIGHLY LUCRATIVE BUSINESSES IN NIGERIA YOU CAN START WITH LITTLE OR HIGH CAPITAL INVESTMENT.

1. AGRICULTURAL BUSINESS:

Agricultural businesses are divided into two types which are the livestock production and the crop production. And we shall be explaining the lucrativeness of each of the two types of agricultural business.

Agricultural businesses is undoubtedly one of the most lucrative businesses in Nigeria. this is because no living things can do without foods. Infact, agricultural products market itself to the general public even without much advertisement.

Below are a list of profitable agricultural businesses you can start in Nigeria with low capital.

==> LIVESTOCK FARMING:

livestock farming can simply Be defined as the act of rearing animals for either personal use or for commercial purpose. Below are the various lucrative business in Nigeria that falls in this aspect of agricultural business.

SNAIL FARMING: snail farming is no doubt one of the agricultural and hassle-free lucrative businesses in Nigeria that produces decent income in a short while.

SNAIL FARMING:

snail farming is the act of rearing snails on a piece of land for commercial purpose.

snail farming business in Nigeria can be started with a capital as low as 10k depending on how large you would like to start. you’re starting capital also determine your income.

But irrespective of your starting capital or how large you start this business, you are sure of making a profit which is 5 times you’re starting capital within a short period of time.

CLICK HERE TO READ MORE ON HOW TO GET STARTED WITH SNAILS FARMING BUSINESS IN NIGERIA.

• FISH FARMING:

Fish farming is simply the act of rearing fishes for commercial purpose all with the aim of maximizing profits.

Fish farming is yet another lucrative business in Nigeria that can be started with low Capital. the profit in fish farming is quite decent if done appropriately.

With the current high demands of fishes in Nigeria and the world in general and its increase in consumption, starting up a fish farming will surely be lucrative and the market is quite decent.

CLICK HERE TO READ MORE ON HOW TO START A FISH FARMING IN NIGERIA.

POULTRY FARMING:

poultry farming is the act of rearing birds with the aim of meats and eggs production which can be sold to maximize profit.

poultry farming is undoubtedly a lucrative business in Nigeria especially if Done optimally. just like snails Farming and fish farming, the profits in poultry farming is also quite decent and the market is quite thriving.

chickens and eggs are currently on a very high demand both locally and internationally which makes this business a profitable one.

In poultry farming, one can either choose to wear a particular species of birds or in combination with others. the commonly reared birds are the broilers which can laid several eggs a day.

Poultry farming In Nigeria can be started with a capital of 10K and above depending on your financial capability.

CLICK HERE TO READ MORE ON HOW TO GET STARTED WITH POULTRY FARMING IN NIGERIA.

==> CROP PRODUCTION:

crop production is the act of producing crops for either personal or public consumption. lucrative businesses in Nigeria that fall under crop production are listed below:

CASSAVA PRODUCTION:

cassava is undoubtedly one of the highest and fast selling commodities in Nigeria and beyond woeing totally it’s diversed usage in production of other commodities.

cassava are mostly produced in African countries and are being exported to other countries of the world. the exportation of cassava and its diverse usage also increase the profitability of this business.

cassava production in Nigeria can be started with little or no capital depending on the location on how large you would like to start.

HOW TO START A CASSAVA PRODUCTION IN NIGERIA:

PALM OIL PRODUCTION:

the productions of red oil is quite lucrative in Nigeria. red oil are used for cooking and also in a very high demand both locally and internationally. so starting up with this business will surely be lucrative.

• FOODSTUFFS STOCKING AND RESELLING:

This types of business involves the buying of foodstuffs in large quantities during its respective season, properly preserve them and then reselling them a small quantities when the season passes away and the community become scarced.

3. CRUDE OIL AND GAS BUSINESS:

My List of top Lucrative Businesses in Nigeria will be incomplete without this particular type of business.

if you’re the type that reside in the urban area commer you can travel to the ruler area where the foods are being produced by farmers so as to buy them in their relatively cheaper price. this is one of the lucrative business in Nigeria that will forever Thriving.

crude oil products like kerosene and petroleum are in a very high demand especially in a rural development area. why kerosene are mostly in high demand in rural areas, petroleum and cooking gas are also in high demand in the Urban development areas.

==> HOW TO START A KEROSENE BUSINESS:

to start a clothing business you can simply walk-in into a filling station (preferably NNPC stations) and then purchase the crossing in bulk. you can then start selling in small quantities in your neighborhood or villages. this can be started with a capital of 3k to 5k depending on your location

** For one who is financially buoyant, you may decide to buy a big tank (like 5k litres tank and above) where the Kerosene will be stored and sold to customers through pumps. with this, you can partner with a filling station owner which will Direct you on how to stock your tank with Kerosene. this type of business can be started with a capital of 500k and above.

** alternatively, the kerosene can be stored on the 20 litre jerry cans.

• PETROLEUM DISTRIBUTION:

petroleum distribution business can be started just like the kerosene business steps outlined above But in petroleum business, great care need to be taken because of the inflamable nature of petrol.

• COOKING GAS:

the numbers of households currently using cooking gas are very high and each household will surely needs to refill their gas when exhausted. Therefore, increasing the sales of cooking and gas.

==> HOW TO START A COOKING GAS BUSINESS:

You can simply purchase a large gas cylinder (like 100kg and above). Fill this gas cylinder with gas obtained from a cheaper source and then resell to customers in small quantities ( Like 2kg, 3kg, 5kg e.tc).

households using gas will surely patronise you to refill their own gas cylinder. This type of business requires you to have a physical shop where you can be located. This type of business can be started with a capital of 30K and above depending on his financial status and the profits is quiet descent.

PLEASE NOTE: Because of the highly inflammable nature of gas, great precautions need to be taken to prevent overheating of the gas environment and also to ensure the gas environment is always kept cool.

• FILLING STATION

running a filling station is yet another lucrative business in Nigeria but it surely requires a very good capital investment. filling station business can be started with a capital of 30M and above.

4. BAKING BUSINESS

Baking products like bread, cakes, chin chin and other snacks is also a very lucrative business that can be started with low capital.

If you are talented in baking then this an opportunity for you to help yourself and stabilize your income. with a capital as low as 30K you can venture into this type of business.

5. TOASTED BREAD BUSINESS:

Toasted bread is an other commodities which is in a very high demand most especially in tertiary institution and other busy environment. this type of business can be started with a capital for as low as 6k.

To start this type of business, one will need to purchase a toasting machine. latest in machine is sold around 5k depending on your on your location.

6. PHONE REPAIRING AND ENGINEERING:

repairing or engineering of mobile phone is undoubtedly one of the most lucrative businesses in Nigeria that can be started with a very low capital. nowadays, there is no single house that is left without mobile phone and those phones need to be repaired When they got spoiled.

it is either the calibrator, panel screen need to be changed or other repairing job needs to be done on it.

for those talented in phone repairing and Engineering this is another means of being self-employed. this type of business can be started with any amount but one needs to have a physical presence.

7. RECHARGE CARD PRINTING AND DISTRIBUTION:

Recharge card printing and distribution is yet another lucrative business in Nigeria that can be started with low capital. The good part of this business is that it is a very low risk business and can be started by anyone. recharge card printing and distribution business is theft proof and also the profit is quite decent.

CLICK HERE TO READ MORE ON RECHARGE CARD PRINTING AND DISTRIBUTION BUSINESS AND ALSO HOW TO GET STARTED.

8. SELLING OF OKRIKA CLOTHES:

Okrika clothes refers to fairly used clothes which are not too worn out and are still good to be used. Most people’s nowadays now patronizes okrika shop to purchase a fairly used clothes because of its relatively low price when compared to the new ones. This makes the business more lucrative and profitable.

okrika clothes are of many qualitiessuch as the grade AA, grade AB, and grade BB. A bale of grade AA Okrika clothes consists of a high quality and nearly clothes, grade AB consists of the mixtures of quality clothes and less quality ones while grade BB only consists of less quality clothes.

A bale of Okrika course about 50k to 70k depending on the grades. and there are 200 pieces of clothes inside a Bale.

now assuming that you purchased a grade AA okrika at the rate of 70k which consist of 200 pieces of clothes inside. then each of the 200 pieces of clothes are sold at the rate of 700 naira each, now that’s 700x 200 which will you give zero #140000. you can now see how profitable and lucrative okrika business in Nigeria.

9. BLOGGING:

A Blog is a website where you can share your personal opinion views and discussions on topics.

blocking is quiet lucrative and profitable if done appropriately with the relevant and interesting topics to audience. it was just fill plug can be monetized in various ways such as affiliate marketing advertising companies sponsored ads etc.

login business is purely and online businesses that requires multiplication devotion and sacrifice but the profit is quite lucrative and it is worth devoting time for. blogging can be started with a capital of 25 to 30k.

CLICK HERE TO READ MORE ON HOW TO DESIGN AND LAUNCH YOUR OWN BLOG WITHIN 30 MINUTES.

10. ICE BLOCK PRODUCTION AND DISTRIBUTION:

Due to the epileptic power supply in most cities in Nigeria, ice block production and distribution has really becomes more lucrative and profitable as many peoples selling frozen food need to keep their falls frozen well at chilled.

This type of business can be started with either a deep freezer or an ice block machine. a deep freezer or ice block machine in Nigeria can be bought at the rate of 50 to 70k.

From my own experience, piece of well iced block is sold at the rate of #100 to #150 I’m an ice block machine can be used to produce 160 ice blocks at a goal.

100 × 160 blocks will give 16000 naira. Now if you’re in the location where ice blocks are in a very high Demands, then distributing 160 blocks daily is very possible which means you’ll be making a sale of at least 10,000 naira daily and 300,000 naira monthly.

Without any iota of doubts, ICE BLOCK BUSINESS is one of the many lucrative Businesses in Nigeria

11. DROPSHIPPING BUSINESSES:

Dropshipping business is one of the most lucrative business in Nigeria that requires less stress and generate a lot of profit. it works in a way similar to blogging but has a vast differences.

In DROPSHIPPING businesses, you simply post a products which are not Originally yours then send your customers details to the original sellers and the goods will be delivered to them while you when your own commission. this types of business requires you to create an e-commerce website either with shopify or woocommerce.

==> HOW TO START A DROP-SHIPPING BUSINESS:

• partner with a manufacturers and suppliers of various goods or products.

• Create your own e-commerce website

• post or upload manufacturers and suppliers goes on your e-commerce website.

• When a customer place an order on your e-commerce website, simply forward the customer’s details to the manufacturer or supplier and their goods will be delivered to them. the manufacturers or supplier will then pays you a certain commission for the Successful purchase.

The only capital required for the starting of a DROP-SHIPPING business is the cost of creating an e-commerce website which is about 40 to 60k.

CLICK HERE TO LEARN HOW TO DESIGN AN E-COMMERCE WEBSITE USING SHOPIFY OR WOOCOMMERCE.

12. PURE WATER PRODUCTION AND DISTRIBUTION:

As we all know what pi is a universal solvent that has no enemy and no man can survive without it. Therefore, venturing into pure water business will surely be lucrative and highly profitable.

An average household drinks Pure water I’m also, people’s most especially students and businessmen drinks more when they are outside there various homes which lead to increased patronage to pure water seller’s.

you can either ventured into producing pure water or selling it in units by purchasing the pure Waters In bulk from the manufacturers and then retailing it in small units to the end users.

A bag of pure water usually cost 60 to 100 naira depending on your location and a sold at the range of 10 naira per each.

A bag of pure water usually consists of 20 pieces inside, #10 × 20= #200. which means for each bag of pure water, you will make a profit of between 140 to 200.

This Calculations have proven that indeed this business is surely part of the Lucrative Businesses in Nigeria

13. CHIPS MAKING:

  1. CHIPS MAKING: making is also one of the lucrative businesses in Nigeria that can be started with a very low capital investment. though it is a bit stressful but the profit is worth the stress.

All you need to do is to buy plantains or sweet potato slice it, turn it into chips,.. package it and then start selling. this type of business can be started with a capital for as low as 5000 naira.

14. ROAD SIDE RESTAURANT OR EATERIES:

  1. ROADSIDE RESTAURANT OR EATERIES: Considering the large numbers of travellers we have moving from one location to another, then you will believe that starting a roadside restaurant or eateries is surely one of the many lucrative Businesses in Nigeria.

Does travelers traveling from one place to another usually made a stopover to eat in a nearby restaurant before continuing with their journey.

And apart from travelers, non problems are many households also patronizes or restaurants and eateries to a great extent. this is simply because it is usually believed that preparing a food at home is more costly and time taken than. eating in a restaurant or eateries.

Those who are talented in cooking a delicious meal can seize this opportunity to monetize their talents and also earn a living. This type of business can be started with 10k and and above depending on your location.

16. MINI IMPORTATION BUSINESS

  1. MINI IMPORTATION BUSINESS: Importation of product like jewelries groceries on phone accessories has proven to be one of the many lucrative businesses in Nigeria due to the massive patronages.

From my own personal experience, I learnt that groceries jewelries and phone accessories are relatively cheaper in the nearby cotonou city in Benin republic. so you can travel to this city and purchase this jewelries, groceries and Phone accessories and then return to Nigeria to sell in small quantities.

jewelries groceries and phone accessories are undoubtedly a fast selling product in Nigeria, so importing Them will surely be profitable. you can as well import as many things as you consider to be profitable and fast selling.

this type of business can be started with the capital of 100k and above depending on your location. but the profit will determined by your starting capital. banana republic is not too far from Nigeria and in fact it is one of the neighbouring country.

we will keep updating this page as we discover more lucrative businesses in Nigeria, so you can bookmark this page and reload it severally for updates or simply subscribe to our newsletter below to receive our updates via email.

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