50 Most Profitable Business Ideas In Nigeria
Having lucrative business ideas in Nigeria in 2020 has become imperative – for obvious reasons, there are no jobs anywhere!
Plus the only thing that is booming now is the creative industry. Everyone today must come to terms that “It’s not what is done but how it is done” that makes the difference. Hence, knowing the right business opportunities in Nigeria is golden.
Not every entrepreneur starts with a specific business idea in mind. And with so many small business ideas in Nigeria today, it becomes even more complex, right?
It may seem like its good business ideas or best small ideas, but they are not. The most successful small business ideas in Nigeria come from people who work for someone and they believe they can do better.
Some other businesses can start as employees or trainees, and then gradually build skills and experience before hitting a business opportunity in Nigeria. With the right thought and determination, they can fulfil their own small business to make their dreams come true.
Table of Content
Online Business Ideas in Nigeria?
Are you an online person like me?
You fancy spending time online and you want to see how you can also live the computer life?
I have compiled a list of hot online businesses in Nigeria selling like wildfire, I also stated the requirements to get started and exactly how to start.
Business Ideas in Nigeria
For beginners with the right skill set, but without a lot of capital and business experience, here is a list of business ideas in Nigeria, I mean a lucrative business in Nigeria. 50 to be exact.
Football Viewing Centre
The love for football in Nigeria is overwhelming, hence football viewing centres have become a lucrative business in Nigeria today. The huge recurring bill from cable TV has made it compulsory for a large percentage of football-loving fans to patronize any local viewing centre around. All that you need to start this business is a huge TV, decoder and space. Amazingly today, there are matches almost every day of the week.
Real Estate is one of the most lucrative businesses in Nigeria and the world at large. There are no mincing words about it. People will always need a roof over their heads. As the population continues to increase, and as status increases, real estate business will continue to boom. As people move to cities, this business keeps booming. Real Estate is a serious business in Lagos and Abuja and some other states in Nigeria.
There are many opportunities in the real estate business. You can choose to work as an agent. Helping people find properties and apartment for fee or commission, there are lots of website doing that today. Also helping property sellers and landlords find buyers or tenants for a fee.
You can develop properties in highly sought after the environment, for sale or rent. You can also invest in lands and either develop or sell when it appreciates.
If you have some writing skills, then you can start a writing business very easily by providing your services to businesses on a freelance basis. Lot’s of bloggers and businesses out there needs a freelance writer. See how you can start freelance writing here, you can also search for freelancing websites and apply.
You can learn how to start a blog quite easily where you post about topics that match your experience and expertise. Blogging is a good way to showcase your expertise and also attract people that needs them. You can learn how to set up a blog in my 14 video course for free.
Virtual Assistant can provide various types of online services to businesses and professionals including email organizations and communications, social media scheduling and bookkeeping. So you can start a virtual assistant business as far as you have experience in those areas. Check for opportunities on Upwork or Fiveer.
Home Cleaning Service
For those who enjoy cleaning, or at least keep this in mind, by starting a home cleaning business, a simple direct route can be provided for business ownership. I see opportunities for this now and then, especially in Lagos where everyone seems never to have time.
Child Care Services
If you love and can tolerate children, that is a business idea in Nigeria today, you can start child care or creche business from your home or even provide these services in your family home. You can even start by babysitting or even as a nanny. This service is on high demand in Nigeria because of the working nature of parents.
Event planning is a big deal in Nigeria today.
Those who are highly social, party freak, strong organizational and communication skills find it very easy to create a brand in this fast-growing industry in Nigeria.
The event planning industry is the fastest growing business all over the world. It is a kind of business that is well recognized and very lucrative. You too can become a successful event planner in Nigeria.
Tailoring in recent years have evolved into a big industry in Nigeria. If you have an eye for fashion, then you can begin to work on delving into the fashion industry. One of the amazing parts of this is mastering the skill of sewing isn’t much of a big deal. I have friends who have thrown away their certificates and within a few months, they are already in the business of sewing.
Cooking Gas Business
This is an evolving yet untapped business in Nigeria. A lot of people are so focused on Petrol that they overlook cooking gas. Not long ago, I was speaking with a friend who manages a mid-size petroleum company. They are into all petroleum products. He told me they make more money from cooking gas than any other business.
You can supply cooking gas to retailers or you become a retailer and refill gas for end users. Spice it up. This business is very lucrative and it does not cost much to start. You can start small and grow!
Corporate Car Service
Every developing city in the world has demand for a convenient transport system for easy day-to-day running. Nigeria isn’t left behind, as the most populous black nation is no exemption for the quality transport system, especially if you are in a city like Lagos or Abuja. Thanks to Uber, Bolt, Avis and others that have played a huge role in making this easy.
So if you have a good car in Nigeria, using for taxi business is a very lucrative business.
Social media manager
If you are knowledgeable about social media, then you can potentially provide your services to various businesses in managing your social media accounts. Managing social media accounts can earn six figures monthly.
Have 10 businesses that will pay you 30k monthly and you easily earn 300k. I showed my students how I did that in my Website Design Mastery Course
Social Media Influencing
For folks that can concentrate more on building social media accounts, can eventually build a business as a social media influencer, which earns money from posting about different brands and promotions. A practical example is Instablog9ja. You will need to have a good following to be able to deploy this model.
Waste management is another business with a lot of future potentials because Nigerians are yet to imbibe the habit of proper waste disposal. However, states like Lagos have been doing a lot to encourage proper waste disposal and management. Now there are several businesses you can start within the waste management niche and these include waste recycling, waste disposal, waste to energy, junk hauling, organic fertilizer production, this will become a big industry in Nigeria in the nearest future.
The clothing store (boutique) industry comprises of small retail stores that sell a limited range of clothing and accessories. The industry is defined as single-establishment stores only. Clothing stores (boutiques) can be strictly designer based (i.e. only one designer’s collection is sold there), or sell a mix of designers’ labels that are in demand in the local market. If nothing sells, cloths will, and that is why it is a good business idea in Nigeria today.
Even if you do not necessarily make your items, you can purchase and resell things on Jumia or Konga sites without any prior business experience. I have stories of folks making millions of sales monthly on these platforms. You can even take it a step higher by designing your e-commerce store and sell these products building your brand.
If you have knowledge or experience in web design, then you can provide your services to customers and create your own business as a web designer. Funny enough, folks don’t know you don’t need to write codes to design website. I have a course that has taught tons of people how to design a website without writing a piece of code.
Knowing how to design a website is an awesome business idea in Nigeria because we are still at the liminal phase of a shift from traditional marketing to digital marketing. The demand for websites is high.
There are a lot of people who love games, me inclusive. I remember starting a game shop during the ASUU strike in my year 2 at the University of Jos. Starting a gaming business requires that you first love games or hire someone who does and also harness traffic, Almost every cinema houses I see around now have a corner for 4D games. It’s a lucrative business idea for me.
If you enjoy spending time with four-legged friends, you can start a business that offers dog-driven services to pet owners who do not have enough time to run regularly. A lot of people have dogs they don’t have time to cater for. I have a neighbour that pays 20k monthly to someone that calls himself a vet, just because he knows how to take care of his dogs.
Pastry & Baking
Starting a food service business can be quite involved for beginners. But if you enjoy cooking and want to make your first business around it, then you can start a baking business where you sell specific items or custom creations for events outside your home kitchen. Pastry consumption is huge hence it is a good business idea in Nigeria.
You can start your own business as a hairdresser or hairstylist today. Back in the day, almost all females could dress hair, who would have thought it would become a huge market today?
Similarly, you can create a client base and provide make-up services for events, photoshoots or special occasions. You can take it a step ahead by having a beauty studio.
If you are skilled as a musician, you can create a business where you play in events or places and earn a part of ticket sales or business. Because event sells, music sells as well.
You can also easily start photography services to provide photography services for events or local customers who want to schedule portrait photoshoots. Photography is now a big industry today, you will need to be highly creative to create a niche, and also learn the business angle of it.
Car wash or detail services do not always need to include complex equipment or business skills. You can establish a simple place where you provide services to customers or you can also travel to customers with your extensive supply. With the number of cars in Nigeria and the hangouts we have. I wonder why all hangouts do not have car wash services.
There are tons of online services that make custom T-shirt a lot easier. So you can make your design and sell them online or even supply them.
Poultry Farm Business
Starting a poultry farm in Nigeria might appear easy because it is the easy run to for everyone doing business, but starting it as a business is something entirely different and a little more complex.
This requires that you are not only just a chicken or Turkey farmer but an entrepreneur as well. Starting this business you would need to get the necessary training, define your target market. Again farming is lucrative in Nigeria because of the looming population vis a vis our production rate.
Food Vendor Service
If nothing sells especially in Nigeria, food will sell. “Mama Put” as fondly called is a good business in Nigeria. I remember some years back at my office a vendor took her business differently by packaging a decent plate of a meal for us at the office at Ikeja, Lagos. It cost a little extra, but she offered a decent meal and saved us the stress going down the street to for launch breaks. You can also prepare single-service meals and sell the consumers at your home or ordinary commercial kitchen unless you have the supplies and necessary licenses.
For those who enjoy working with antiques, you can start a business where customers can bring their items to you for repair or renovation.
If you have expertise in a given subject, even if you have not done your own business in that place, you can still start a business by offering public speaking services at events or conferences. So many business ideas around public speaking that can be harnessed like selling your books, courses, workshops, etc.
Those who have a lot of experience in physical fitness, you can build a client base and start working as a personal trainer from a home gym or even join a commercial gym.
You can be certified as a yoga instructor and can build yoga classes. Yoga is gaining more and more acceptance every passing day and I see a big market come out of it in the nearest future.
If you want to teach different types of movements, then you can start your dance classes from your home or a local studio.
You can also work in one or two groups to offer music lessons or classes in different devices or styles.
Or you can choose to teach in different subjects in one-to-one settings. Providing tuition services to students can be a direct way of starting your first business.
If you have design experience, you can work on attracting your customers who need things like a logo or branding design elements.
Tech Support Business
You can also start your technical support company where you provide support to the phone or online people with experiencing technical issues.
Or if you prefer to work from home instead, you can start a business as a business that provides different homemade services for families.
If you can create your online network or viewers related to a particular topic, you can start working with different brands as an affiliate and earn a part of every sale of your sale.
YouTube also provides a popular forum for people to share information about many different topics. And you can earn a part in advertising revenue by posting and promoting your videos.
You can also start your podcast to earn revenue from your show and sell ad space or work with brands. Soundcloud, iTunes, and others have made it easy to host your podcast shows. Radio is coming to the internet and when it does, podcasters will be ahead, that is why it is an awesome business opportunity in Nigeria.
Writing a book is not an easy venture. But there is no official professional experience required to publish it and sell your ebook online. Self-publishing is a big industry right now, thank God for a platform like Okada Books in Nigeria today. You can even sell your ebook on your blog or website.
You can start the business as an interior decoration without any expensive equipment or complex business knowledge. Once you have basic decoration skills, then events, houses, offices will need them.
If you want to spend time outside and want to provide services to hotels or private houses, pool cleaning is another beautiful direct service around which you can make a business. Because it is recurring makes it a great business idea in Nigeria.
You can also build or retract your furniture and then sell it in local boutiques or even art fairs or similar events. This is one of those business ideas in Nigeria, people do not take seriously, once this is creative, it sells.
If you want to work from home or even just want to make a small side business, then you can provide proofreading services to business, authors or individuals who want to pay someone to vet their work.
You can also concentrate on helping local job seekers who need some help in keeping their resumes or cover letters together. There are lots of CVs and Resume flying around, creating a directory online can be a step in the right direction.
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Party Rental Services
Parties are big deals in Nigeria, needless to say, the sequel to this, rental services has become a lucrative business in Nigeria today. You may need to connect with lots of events planners so that any equipment you have for rent gets busy every week. You can rent from halls to canopies to sound system and there are lots of business ideas related parties.
Translator/ Language Teacher
If you know many languages, you can create a business by providing translator services to individuals or businesses in need of assistance in converting conversations or documents from one language to another. You do not even need to go far, there are lots of families that need people to teach the kids their local dialect. If you are fluent in Yoruba, Igbo, Hausa, etc, then you can start from there.
There are loads of business ideas one can look into in Nigeria today, well, It is not really what you do that makes the difference but how you do what you do. Pick one of the business ideas, improve upon what has been offered in the industry, create a better product/service and in no time you will have a strong brand and you start creating passive income as well.
All the best in your business endeavours.