Top 30 lucrative businesses in Nigeria

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IF you are looking to start up lucrative businesses in Nigeria, this post is for you. I will show you 30 lucrative businesses anyone can start and start making profits immediately.

These businesses are known and proven to be profitable and lucrative. 

Some of the business ideas in this post require considerable capital, while some are small-scale businesses one can start with little or no money. Some business ideas in this article are internet-based, while many others are offline businesses.

Few business ideas in this post require you to register with Corporate Affairs Commission (CAC) and other relevant authorities.

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Top 30 lucrative businesses in Nigeria

Here are the 30 lucrative business ideas one can start in NIGERIA.

1. Bakery business

Baking is a business that involves the production of bread, cake, and other confectioneries. Nigerians love bread and will gladly buy from you. You can start a bakery with 250,000 nairas.

2. YouTube

If you are not camera-shy, you can make huge money from YouTube, the largest video-sharing platform in the world. Suppose you can make videos about yourself, news, celebrities, and how-tos; you can make money with YouTube.

To start earning with YouTube, just create a YouTube channel with your Gmail and upload videos. Choose any niche of your choice and start uploading videos related to your place.

Niches to venture on YouTube includes Sports, tech, comedy, dance, politics, fitness, and religion. Encourage your viewers to like and subscribe to your YouTube channel. 

Once you reach 1,000 subscribers with 4,000 watch hours, you are eligible for YouTube monetization, the YouTube partner program. Other ways to make money on YouTube are fundraising, affiliate marketing, selling your products, shoutouts, and Fiverr.

3. Transportation business

Not everyone has a private vehicle or motorcycle to aid their movement from one place to another; hence, the demand for commercial transport is high. 

One can start the league of commercial transporters like okada, tricycles, buses, and taxis. You just need to have a vehicle and a competent driver and register with government agencies.

If you don’t want to employ a driver for the business, you can lease to transport companies like Uber.

4. Makeup business

A lucrative business one can start in Nigeria is a Makeup store where Ladies who want to enhance their beauty are cared for.

Essential requirements for starting a make-up store are A makeup Artist and make-up products.

5. Shoe Production

Clothing is one of the essential needs for men, and clothing can’t be complete without shoes. Although the demand for locally manufactured shoes in Nigeria is low compared to the demand for foreign shoes, the shoe production business is still lucrative. A Shoe production business is a medium-scale business you can start up without much money; you just need to operate it in an area with a large population to buy your shoes.

6. Reselling of perfume oils

Another lucrative business to start in Nigeria is selling perfume oils. Perfume is very profitable as people love looking good and smelling nice, so they will buy perfumes from you.

Anyone, including a student, can start a perfume sales business as it is cheap; one can start selling perfume with as little as 15k.

7. Fashion Designing

Designing clothes for people is a profitable business. Just buy a sewing machine and hire a good fashion designer. Also, locate your shop in a busy area where people will patronize your business.

8. Wine Production

The selling of wine is one business that will thrive in areas in clubs and event centers. Buying wine wholesale from wine vendors and selling to people in retail quantities to buyers at your shop and parties. Wine production can be started with 100k and be made profits.

9. Mini importation

it is the business of buying goods from foreign countries and selling them in Nigeria on a small scale. Mini importation can be done online or offline. 

Countries, where one can import goods are China, Vietnam, the UK, the US, etc. Hottest products include shoes, kitchen utensils, bags, wristwatches, phones, power banks, airpord, etc.

To start your importation business, websites are Alibaba, Aliexpress, 1611, Tabao, Amazon, eBay, and Offer up.

How mini importation:

  • Get registered on those websites.
  • Browse through the site and find products you want to import.
  • Chat up with the suppliers and order the goods.
  • Ship them through your preferred shipping company to Nigeria.

10. Freelancing

This online business is majorly for people with digital skills. You can monetize your internet skills by signing up on freelancing platforms like Fiverr, Upwork, PeoplePerHour, Freelancer, Guru, and Golancer. 

One can start freelancing for free; the only requirements you should have include A smartphone, skills, and a strong internet connection. In freelancing, you list or showcase your skills or talents, known as gigs, and get paid as people hire you and buy your gigs.

Top freelancers earn 2k to 10,000$ monthly. You can monetize skills through freelancing, including video editing, animation, drawing, content writing, copywriting, Web designing, web and app development, translation, etc.

11. Manufacturing and sales of detergents

Selling homemade detergents is another business venture you can try. Sell your detergents at markets and to local stores around you. You can start this business on a small scale with 25k.

12. E-payments or POS

With the emergence of electronic payments, one can start a POS business and earn a living.

To start a POS business, you need to get a POS machine from any Nigerian bank or other reliable financial institutions like Opay, Kuda, and Palm pays.

13. Real Estate

The buying and selling of lands and landed properties. Real Estate is one lucrative business in Nigeria that almost all the billionaires are into it in one way or the other. This business has been in existence since ancient times, although it has been modified now. 

Starting a Real Estate Business requires you to buy plot(s) of land or landed properties to resell them in the future.

14. Delivery Services

One can start this business by delivering goods, food, and parcels with delivery bikes and taxis from one place to another. Buy bikes and approach hotels or businesses that offer home service deliveries and inform them of your intention of delivering foods to their customers who ordered from home.

15. Mobile food business

mobile Food vendors are in every area of Nigeria; they carry food like rice, beans, spaghetti, and stew in trucks or wheelbarrows to sell.

They are patronized by people who are too busy to Cook. One can get a lot of customers for this business by visiting construction sites, event centers, schools, and public places.

16. Anti-aging Spa business

They make people’s bodies look smooth, fresh, and younger. They use special cream and massage to smoothen the skill.

Although this business is not quite popular in Nigeria, you can be among the first to start up this business. Site this Anti-aging Spa store in an area where rich people are so you can get customers.

Read more: 25 high paying skills in Nigeria.

17. Phone accessories

selling phone accessories like headsets, earpieces, batteries, SiM cards, power banks, Phone screens, and others is a lucrative business in Nigeria.

One can start phone accessories with 35 to 50k and rent your shop in an area that is majorly populated by youths, e.g., university or college.

Some places you can buy phone accessories are Computer village, Slot, Jumia, Konga, or any major phone accessories retailer near you.

18. Poultry Farming

Poultry farming is the practice of growing domesticated birds, including fowl, duck, and turkey, to produce meat or eggs for human use.

Poultry farming is undoubtedly among the most profitable farming businesses in Nigeria. Chicken’s quick maturity gives one of the best opportunities for investors to make a lot of money in a short amount of time.

The market is constantly there, ready to be tapped. People go about their daily lives looking for where they can buy poultry items like eggs because demand is so strong.

19. Catfish Farming

Many different types of fish are grown in Nigeria, but many people prefer catfish because the meat is fleshy, soft, and delicious.

However, not everyone is aware that such a fish can be easily grown even on a small fish farm, and you can even do catfish farming at home.

20. Snail Rearing

Snail farming is one of the most profitable agribusinesses one could begin in Nigeria today with little money.

Despite this, it is one of the country’s most neglected animal-rearing industries. Snail cultivation in Nigeria is one of the best ways to generate a lot of money in a short amount of time.

21. Business Consultancy organizations

Such multitudinous money chiefs are hoping to dispatch their own business; they need counsel from a prompt expert to win in the industry.

You can get amazing cash purchases by sharing information with them on the ablest procedure to be astoundingly convincing. You can begin a business consultancy where you can equip these certain business individuals with your comprehension and experience.

22. Trading organization

Many trading organizations and affiliations exist out there; you can change into a whiz financial ally with an undertaking organization; you could put resources into anything from oil, gold, and bitcoin, as well as stocks and bonds.

Another valuable business accepted is exchanging, e.g., forex; it’s risky, so you genuinely need to see how it attempts to make enduring progress.

23. Coaching and Training Service:

Everyone needs direction in some customary issue; if you are instructed, you could get cash by training others, open a school, and conceivably an instructive focus point where you can offer your coaching and preparing organizations. In a few years, you are now in the millions.

24. Worker Recruitment Service

Most organizations can’t go through the pressure of unequivocally enlisting staff into their association; they have no significant investment.

This makes work selection organization an ordinarily productive game; get yourself signed up and saw and contact chiefs on your organizations, and the sky will be your beginning.

25. Vehicle Rental and Leasing organizations

This business doesn’t hamper you after you have begun; individuals lease vehicles, gadgets, transport, and a vast extent of gear for occasions; simply pick your solidarity and procure your cash.

26. Solar Panel Installation

Due to the irregular power supply in Nigeria, individuals and companies are now resorting to solar energy, making it a lucrative business for any businessman to venture in.

You can start this business by buying solar panels and hiring engineers who can install solar panels for people and companies. 

You can start solar panel installation with the sum of 500,000 nairas.

27. Blogging

it is an online business that involves publishing posts, news, and articles. You can start blogging for free if you wish to create your blog on free blogging platforms like blogger or Wix, or you can create your blog on WordPress by purchasing hosting and domain.

There are many ways of monetizing your blog, including Google AdSense, Ezoic, affiliate marketing, sponsored posts, and propeller ads.

Blogging is lucrative as many Nigerian bloggers earn 2000 dollars monthly, although it is not a quick prosperous business.

28. Phone repairs

Phone repairs are one of the lucrative businesses to start up in Nigeria with little capital. For one to start up this business, you just need phone repairing skills, tools, and a shop.

It is a thriving business as people look for phone technicians who will repair their phones.

29. Cash related Services

Fire up a cash-related help firm, which combines organizations going from bookkeeping, accounting, and assessment accessibility.

These organizations are relentlessly on high requests. You just should be consistent in your work; next, you are into your fortune in a brief period.

30. Land/Construction firm

The cover is among the 3 essential needs of man; subsequently, individuals are energetic about building houses typical. An improvement firm will make you millions and get contracts from intrigued people who need to make their homes and complete the projects. Home organization, besides exhaustive, you are all set to start the business.

Conclusion

Those are the 30 lucrative businesses in Nigeria that. These businesses can be done anywhere in Nigeria, both offline and online. Choose any of the 30 lucrative business ideas listed in this post that you have the capital and requirements to start up.


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