23 Small Business Opportunities In Nigeria (2023)

Being the most populous black nation in the world, Nigeria is not only blessed with natural resources but also with a lot of business opportunities in Nigeria you can start with little capital.

You really do not need to have the fortune to enjoy the business opportunities in Nigeria. With as low as N20,000 to 50,000, you can conveniently start a small business that will fetch you profits.

So if you’re planning to start a business in Nigeria, we’ve compiled for you a list of the 23 small business opportunities in Nigeria you can start right away.

business opportunities in nigeria

1. Bread Making Business

No doubt about it, Nigerians love bread. After rice and beans, bread is the most commonly eaten food in Nigeria. So starting a bakery business wouldn’t be out of place.

When you do your research well, you could make huge money from this. Just ensure you do it right. You could also add the different varieties often demanded by customers: coconut bread, sardine bread, etc. It’s really lucrative business if one has got the courage to start one.

2. Pure Water Business

The sachet water popularly called pure water business in Nigeria is another lucrative business opportunity in Nigeria. This business is cool and there is a consistent demand for it, of course, water is life. When you start this business by leveraging the right instruments, you could break even in no time.

3. Laundry Business

If you’re looking for a lucrative business opportunity in Nigeria today, try the laundry business. What you need to do is connect with people in your area, and before you know it, you’re already being well supplied with many clothes to wash and iron on a regular basis. One beautiful thing about this business is that you don’t even have to have all the expensive equipment ready to start. A little effort and consistency from you are all you need for a start. And before you know it, more and more people are bringing you their clothes.

4. Tutorial or Home lesson

This is another business opportunity many Nigerian graduates are doing these days. The tools required are not farfetched: your brain and your negotiation power. When you know your thing like the back of your hand, you should get value for it. Being a tutor or a home teacher is an advantage because you also have time to engage in other productive activities. You might have time to enrol for training or even earn more money with another legitimate side hustle.

5. Real Estate

This is a huge business opportunity you really need to tap into asap. If you can talk and can convince people mildly, you can do this and can make yourself a reasonable buck anytime. This is how it works: Join a real estate company as a freelance person and promote their properties using any platform of your choice including words of mouth. And when people buy from you, you get paid commissions for your effort.

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6. Catering Business

If you’re good at cooking a delicious meal, you can do this business. It’s one of the small business opportunities you can tap into and start making money from it. With little capital and strong marketing skill, it won’t be long before people start calling you to handle the food on their occasions.

7. Barbing Business

With a decent shop, a clipper and your barbing skills, you can turn your life around by engaging in this cool business. People will naturally flock to your shop if you’re good at it. It’s also one of the business opportunists in Nigeria you don’t need a fortune to kick-start.

8. Soap Making

Soap making is also a cool business one could start with little capital. You really don’t have to worry about so many things when you want to start this business. As learning to make soap isn’t really difficult, you could make money from this venture by making soap and taking it for household use. You can even go as far as taking yours to the market. But you will need a lot of branding to really sell well.

9. Recharge Card Business

Because making a call is now part of our daily routine, this is a business that has come to stay for good. The recharge card business is highly profitable. You only need to engage in it on a wholesale level to be able to make good profits from it. When you do it well, you could consistently net reasonable bucks on a regular basis. Because like the air we breathe, people need to talk.

10. Fashion Design

If you’re looking for a profitable business idea you can start with right away, try a fashion business. This business is so cool you don’t need to engage in it doing everything. Though diversifying into several aspects of the business is a good idea, research has shown that those who specialise in one particular area record more sales. You can engage in a fashion business by only stitching torn clothes or only resizing or slim-fitting new clothes. You could also specialise in sewing only trousers and market to people who work in a corporate establishment.

11. Mini Importation Business

Goods shipped from abroad sell very well in Nigeria. So this is another goldmine if you’re looking to start a small business that can fetch you reasonable profits. You can engage in this business by ordering goods from abroad from sites like Alibaba, Aliexpress, Wish or Amazon and selling here in Nigeria. You can do this on a small scale and break even from it. You only need the right information and the determination to succeed.

12. Computer School

This business is lucrative when you do it right. Also known as a business centre, a computer school business is one on which you help people with any computer work on mostly Microsoft packages like Excel, Word and Powerpoint. You also help them print out, scan and bind their work. You could take it a step further by including computer training where you teach people how to use the computer. It’s one of the profitable business opportunities in Nigeria right now.

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13. Beauty Salon

When it comes to looking beautiful, Nigerians are at the forefront. They want to attend a wedding and have people keep talking about their looks long after the wedding. Yes o, in Naija, we gat styles. And what does this mean for businessmen and women like you? Today, tying a gele or headgear is money, not to talk of making up for brides or an owambe guest as they prepare to wow that event they plan to attend. Need we say that this is also one of the profitable business opportunities in Nigeria you can start with.

14. Photography

Can you take a great shot and make people look even more beautiful than they really are? Then good news for you. You can begin a photography business that will generate you consistent income. Equipped with your camera and your skills, you can make good money taking pictures of people at weddings, graduation and other ceremonies. You can even get yourself an iPhone 11 pro or an OPPO or Huawei Y9s to take the best shot of your choice. See? You really do not need to have everything to start this business.

15. Fish Farming

Did you know you can make a lot of money in Nigeria doing a catfish farming business? It’s really profitable and you don’t need the fortune to start. Whether you want to start rearing the fish from scratch and sell them off only when they are a little big or you want to make them really big enough for consumption, the choice is yours. Either way, you can make a reasonable amount of money doing this. It’s, no doubt, one of the lucrative business opportunities in Nigeria.

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16. Home Cleaning

As one of the profitable business ideas in Nigeria with low capital, a home cleaning service can fetch you reasonable bucks regularly. Nowadays, people get busier with one job or another engagement here and there and yet the idea of hiring a housemaid is a big No. So here’s where you come in. You only need to agree to clean the house and nothing more. And at the end of the day, you depart with a tangible amount for your effort. Cool, isn’t it?

17. Mobile Food Vendor

As the saying goes, “a bird flies with whatever he has in its belly” and as Nigerians, when it comes to food, we no dey joke. When you have identified a busy area where workers could get fast food like noodles and eggs or some fries as lunch, get a mobile kiosk, make the environment neat even though you will be mostly engaged in takeaways and boom, profitable business has begun.

18. Bead Making Business

Nigerians are fashionable people, you won’t see them at events except they are looking classy and adorable. And one of the beautiful adornments most Nigerians like to wear to occasions is the bead. With nice bead making skills, you can make a reasonable amount regularly.

19. Hairstylist Business

Helping women style their hair is one of the most profitable business opportunities in Nigeria. If you can do this well, you can earn yourself a reasonable amount. For a start, you don’t even need a shop. With good marketing skills, people could call you here and there to come to make their hair for them at their various homes.

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20. Blogging

One of the most profitable online business opportunities in Nigeria is blogging. Though it requires a bit of hard work and patience, it is a business that can generate you a consistent income for a long time if you do it right. When your aim is to offer value to people and help them solve their problems, the money will follow. If you’re looking to start a blog in Nigeria today, take a look at this free guide that shows you a step-by-step how to create a blog.

21. Livestock Feed Production

Production of livestock feed is one of the lucrative business ideas in Nigeria with low capital. As more and more Nigerians are delving into farming, opportunities abound in the area of livestock feed production. Not everybody will be a farmer but you can venture into farming in another way — by producing what the animals will feed on. Trust us, this business is fetching some people huge bucks regularly. You too can try it out.

22. Poultry Business

The poultry business is really cool, especially considering the number of eggs consumed daily in Nigeria. Besides this, you could also grow your chicken and hens and you will be surprised how much you would make Especially during the festive period.

23. Event Planning

With nearly all the Saturdays and Sundays in Nigeria already booked for parties and owambes, you should consider this business of event planning. As a good event planner, you can make a substantial amount from this venture when you pitch people who are planning one event or another. This is also one of the profitable business opportunities in Nigeria today.

Wrapping Up

If you’re looking to start a business in Nigeria, you really don’t need to overthink it. Worrying over how you can start with a huge capital shouldn’t be the first thing. What matters is identifying the type of business you want to venture into. When you consider our list of small business opportunities in Nigeria, you’d realise that starting a profitable business in Nigeria is not as difficult as it seems.

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