Nigeria is filled with vast lucrative business opportunities anyone can tap into. As one of the most populous countries in Africa, Nigeria has market for businesses. Businesses that do well in Nigeria are those that can solve the basic problem of the people.
The instability in the economy of Nigeria has created a need for every person to set up a business, no matter how small. Relying on the government to provide job employment, food and security can only make life miserable in this present time.
Ideas are what most business-oriented individuals need to start up a business. And here on naijaonlinebiz.com, we know how to provide business ideas in excess. So, if you looking for successful small business ideas in Nigeria you can start with little capital, we’ve provided that enough on this page to help you make money in Nigeria. You don’t need a huge capital before you can start a business.
Ask any multinational company or big corporation how they began. You’ll discover that they all started from little or nothing. Becoming successful in any small business in Nigeria is a difficult task. It requires serious dedication, strong financial backup, hard work, the right mindset and taking the right steps. Some of these right steps to take to begin a profitable small business in Nigeria is what I have earlier discussed. Visit people who are in the same business niche as you. Share ideas with them so that you get updated on the current trend in that particular line of business. These are secrets to successful small business.
So, are you a Nigerian looking for small business you can start with little or no money? Are you an entrepreneur searching for business ideas to invest in? Do you have a small amount of money but you don’t have any business idea? Below, we have 50 successful businesses in Nigeria with little capital you can start. I have grouped these businesses sector by sector for easy comprehension.
50 Successful Small Business in Nigeria with little capital
Here are the most Successful Small Businesses in Nigeria with little or no money startup:
PROFITABLE AGRICULTURAL BUSINESS
Agricultural businesses are the most successful small business ideas in Nigeria with low capital. Most of the major inputs are space (land), water and the viable breeds (crops and animals). You can start these businesses as a sole-proprietor and then grown to Limited Liability Company.
Here are lists of small lucrative Agricultural Businesses;
Poultry farming business
Poultry farming is a typical successful business you can start with low capital. You can start poultry business as a home-based business or from the comfort of your backyard. Poultry farming thrives so well in places like Jos, Ibadan, Enugu, Makurdi where climatic conditions are favourable.
The capital input may vary depending on your start-up level. But with a capital of fifty thousand naira to two hundred thousand naira (N50, 000 – N200,000), you can comfortably rear 50 birds from 2 weeks chicks to market size.
Nigeria poultry industry has the second-largest chicken population in Africa after South Africa. There is a large market for poultry products in Nigeria. You can sell in the market, to hotels, Restaurants, Confectioneries, and many more.
You can start poultry business on a low scale with few boilers and then successfully grow it to big poultry industry. The industry will include hatchery of poultry eggs, rearing of layers, production of poultry feeds and many more.
Fish farming Business (catfish and Tilapia Rearing)
Fish farming business is another successful business in Nigeria you can start from your backyard. The business flourishes well in cities like Port Harcourt, Calabar, Kano, Lokoja, Ibadan, Akure and Enugu Nigeria. With a capital of one hundred thousand naira to five hundred thousand naira (N100,000 – N500,000), you can comfortably rear 50 – 100 fingerlings to market size.
There is a huge market for fish and fish products in Nigeria. There is no doubt if you’ll make it in fish farming once you have passion for the business.
You can start fishery business on a low scale and then grow the business to large fishing industry. The industry will include the production of fish feeds, brooding of fingerlings and sales of fish. On a low scale, you can start with an underground tank instead of constructing a fish pond.
Read also: Fish Farming Business Plan (Sample)
Snail Rearing Business
Heliciculture (aka snail farming) is raising snails for food as well as for pharmaceutical use. You can start this business from your backyard. Snail farming business is a secret millionaire business. Business is fast selling in big cities. You can make a lot of money selling snail meat in cities like Abuja, Lagos, Onitsha, and so on.
Snail farming is of one those businesses that you can start with no capital especially if you living in a rural area. If you in a rural area you can easily gather the wild type of snails from composites and bushes to rear. However, if you are living in a town or urban area, you can purchase high breed snails from market to rear.
Snail industry is one of those Agricultural sectors that has not been exploited fully in Nigeria. Snail rearing business is still been done in its primitive or conservative form.
Pig farming Business
Pig farming is the raising and breeding of domestic pigs for consumption. Pig farming business is a lucrative business with low capital startup. With one or two female pigs of about forty thousand naira (N40,000) each, you can start piggery business.
One good thing about Piggery business is that it has a good profit margin. One pig can give birth to about 8 – 12 piglets in a single delivery which can be raised and sold at market price of forty thousand naira. If 10 piglets survive, you will be making like four hundred thousand naira (N400,000). This makes piggery business profitable.
A lot of SMEs in Nigeria are into piggery business because of its profitability. Banks can comfortably offer you loan if you are into pig farming business.
You can start a pig farming on low scale with one or two female pigs and the grow your piggery farm to big piggery industry in Nigeria
Vegetable farming is one of the profitable low capital businesses. The business is more profitable during the dry season than rainy seasons in Nigeria. You can start vegetable farming from your backyard once, you have enough garden land and sources of water for irrigation.
If you have enough land and source of water for irrigation, five to ten thousand naira (N5000 – N10000) will be enough to start a commercial vegetable farming business.
Viable seeds, insecticides and fertile soil are what you need to succeed in vegetable farming. The appropriate time to make money from vegetable farming is the dry season.
You can start a vegetable farming on low scale from the comfort your backyard and then grow it to commercially mechanized vegetable farm.
Read also: Tips for Vegetable Farming in Nigeria
Garden Egg farming
Garden Egg farming business is fast selling in the north and many other parts of Nigeria. There are different varieties of garden egg, you can go into its farming.
Garden Egg thrives very well in the Middle belt and Northern Nigeria. So, if you are living in place like Jos, Makurdi, Kogi and many other places.
The capital input is low once you have a garden or land for cultivation of the garden eggs. Just like vegetable farming; viable seed, insecticides and fertile soil are important things needed to succeed.
You can start Garden farming on low scale and then grow it to large commercial garden farm.
Rice farming Business
One of the commonest foods we eat is Rice. With the ban on rice importation in Nigeria, rice farming is now one of the top growing business ideas. Nigeria has a large market for rice.
It is a rural and suburban business. Though, the business is a bit capital intensive but it is lucrative. A bushel of rice can weigh as little as 40 pounds which about seven thousand five hundred naira (N7500).
The most land used for rice farming are swamps and there are such lands in Ebonyi state, Abia state, some part of Anambra State, Benue state, part of Niger state and many others
You can start rice farming and then grow to a rice milling industry. Rice milling industry in Nigeria has grown in recent times with a ban on importation of foreign rice.
Cassava processing Business
Cassava processing business is a rural and suburban business. Cassava product like garri is fast-selling in Nigeria. This is because garri is major food eaten by Nigerians.
Cassava processing industry is a large industry especially when mechanize. Starting a mechanize cassava processing industry is capital intensive. It is best to start cassava processing business in low scale with a semi-manual cassava processing machine.
There is market for cassava processed products in Nigeria. Starch, alcohol, feed and many more are fast selling products of cassava. You can go into the production of any of these cassava products.
Dog Rearing and Breeding Business
Dog rearing is the raising of dogs as a pet, security as well as for food. It is a business you can start in Nigeria with little capital. With as little as fifteen thousand naira to forty thousand naira you can buy an English dog like police dog, bulldog and many more. However, you need to have enough money for feeding the dog.
Dogs eat a lot and must be well feed to avoid biting people. Again, dogs need proper handling and vaccination. The is because they can easily misbehave.
People living in Calabar, Cross River State, Jos, some part of southeast and south-south of Nigeria are known for eating dog. So, there are market for dogs on those areas.
Dog breeding thrives well in Jos. You can start dog breeding business on low scale and then grow to commercial dog breeding industry.
Livestock feed production
Livestock feed production industry thrives well in Nigeria. There are many of them in Ibadan, Jos, Lagos and some other part of Nigeria. Common livestock feeds are chicken feeds, guinea pig feeds, pigs’ feeds, and so on.
Starting a livestock feed production industry is capital intensive. However, you can start on low scale by going into local livestock feed production and then grow commercial livestock feed production industry.
Maize processing Business
The maize can be processed to starch, flour, cornflakes, feeds and many more. The industrial starch of maize is convertible to many products.
Maize processing business is capital intensive, maybe that is why there are few maize processing industries in Nigeria.
Meanwhile, this business may not be suitable for many people. However, if you have the capital and you think you have what it takes to do well you can start this business.
Palm oil Processing Business
Nigeria is one of the highest exporters of palm oil in Africa. However, most of the products of Palm oil are being imported from other countries. The industry is relatively low in number compare to the usage of palm oil processed products in Nigeria.
Palm oil processing business is lucrative though capital intensive. However, you can start on a low scale by processing palm oil fruits and then grow to a big palm oil processing industry.
Just like other crop farming, you need fertile soil and viable seeds or root tuber to succeed. Carrot can be cultivated in Nigeria throughout the year. But the best time is between October to June before the raining season.
Carrot farming business thrives well in Nigeria. You can start a carrot farming business from your backyard on low scale with little capital and then grow it to large commercial carrot farm.
SALES & DISTRIBUTION BUSINESS
Sales and distribution business rank high as one successful business industry in Nigeria.
Sales and Distribution business is more like buying and selling of goods and service. However, the difference between ordinary buying and selling and distribution is in quantity you are buying and quantity you are selling to people.
The business is usually capital intensive. If you don’t have enough capital to become a distributor; negotiate with manufacturers. And start marketing their products. From there, you find your way to become a distributor of their product.
Here are sales and distribution business ideas in Nigeria:
14. Sachets Water Packaging and Distribution
Sachet water packaging and distribution business are profitable and one of the successful businesses in Nigeria.
To start this business, you need sterilizing and packaging machines, tanks for storing water, distributing bus or truck and many more. So, this business requires huge capital.
If you have little capital and you’re passionate about this business, you can form a partnership. Partner with people who have the same interest as you. Those who have a passion for Sackets water packaging and distribution business.
Meanwhile, you can start sachet packaging and distribution business on low scale and then grow it to a big Sachet and bottle water packing and distribution industry.
Importation business involves buying goods from other country and selling in Nigeria at a profit. Exchange rate affects importation business.
Electronics are used heavily in Nigeria. You can look for where to buy Electronics in China and get started.
You can start importation business on a low scale (mini-importation) and then grow to become a large importer of different products. You can start with the importation of a few gadgets and electronics.
Cosmetic business is fast selling because every woman and young lady want to look good. It is a business you can consider starting if you have the capital.
The capital startup may vary depending on your entry point into the business. But with N400,000 – N1000,000; you can start a medium scale cosmetics business.
You can start a low scale and then grow to large cosmetic industry. Cosmetic industry produces and distribute cosmetics
Okrika bale business
Okrika bale business thrives very well in Nigeria as a result of poor economy. An average income earner in Nigeria hardly enters the boutique in the name to buy first-grade clothing. So, Okrika bale business is a good business to start anywhere in Nigeria but most especially in sub-urban and rural localities. Lagos, Aba, Kano, and Onitsha have a good market to buy bales of clothes for sale.
Startup capital for this business may vary. It depends on you but you can start with a small capital of one hundred thousand naira (N100,000) to two hundred thousand naira (N200,000). You can start Okrika bale business and then grow to become a top-selling bouquet company in Nigeria.
Transport business is one of the top successful business sectors in Nigeria. Here are transportation business ideas in Nigeria.
Taxi cap transport business
Taxi transport business is a fast-moving business in Nigeria. The high population of Nigeria has made it so. You can make up to N20,000 daily as an intra-city taxi transport owner if you’re in big cities like Lagos, Port-Harcourt, Kano, Abuja and many other cities.
It is not a must that you own a taxi cab, you can go in for a hire-purchase when you have little capital. You can sign an agreement or drive for someone pending when you will buy your own taxi.
You can start taxi transportation in low scale (1 or 2 taxi caps) and then grow the business to big transportation company later.
Tricycle or Keke Napep business
There is a sudden spring up of Keke Napep, the tricycle business in Nigeria after the ban on the use of motorcycle in cities in Nigeria. People who make money on tricycle business are those who give out tricycle on hire-purchase.
You can go in for hire-purchase when you don’t have money to buy your tricycle. Just like taxi transportation, you can start tricycle business in low scale and grow it to a big transportation company latter.
LUCRATIVE SPECIAL SERVICE BUSINESS
The major inputs or materials for this type of business include canopies, chairs, tables, stools, table dress cloth, big cooking utensils, and ribbons for hiring and manpower. These types of businesses are not difficult to start. It will best suit women than men but anybody can start the business.
Here are successful special service business ideas in Nigeria:
Fast food Joints & Eateries
Fast food joints and Eateries are one of the fastest incomes yielding business in Nigeria. Fast food Joint and eateries business is like Restaurant business. The business is a ‘quick to start’ type of business and also a fast-moving business in Nigeria.
The startup capital varies. It depends on the categories of your customers you wish to cater to. If you wish to serve High-class customers then you need a huge capital to start up such eateries. But if your target customers are low-income salary earners then you need little capital star-up.
Eateries business is rampant in places like Abuja – Area I and Garki, Lagos Ikeja and Ikoyi, Kaduna, Ibadan, Kano, Enugu, Aba, etc. These are big cities in Nigeria and the business is well patronized there.
You can start up fast food joint in a low scale and then later grow the business to big restaurant.
Rental Service Business
Rental service business involves an agreement where a certain amount of money is paid for the temporary use of a good, service or property owned by another. This type of business is lucrative and can be set up in any locality. The business can make six figures for you within a space of time.
Equipment and material to start its renting include hall, cars for wedding and special occasions, chairs, tables, canopies, cooking utensils and many more. Car renting services, for example is booming in Lagos, Abuja and many other big cities in Nigeria where there are lot of clients.
You can start a rental business on a low scale (with few renting materials or equipment) and grow to become a top renting company in Nigeria.
Event Management business
Event managers ensures events like wedding, festivals, and other occasion are well taken care of. The activities of event managers necessary for every occasions.
Individual who has ability to plan and organize events can startup event management business. Event managers are good event planners.
To start the business, you need to register your event management company. Most clients will rather prefer to deal with you as a company rather than as individual. In event management business is lucrative in big cities like Abuja and Lagos.
You can start on low with few workers and grow the business to top event management company in Nigeria.
Real Estate business
Real Estate Business is a profession of buying, renting out or selling of properties such as land, homes, buildings and apartments for commercial use.
When you talk about successfully and profitable businesses in Nigeria, Real Estate business will rank among the top 10. The sales of landed properties have been on since decades and real estate agents are capitalizing it.
From starting a real estate business to owing an estate and landed properties, this is how to grow successfully in this line of business.
Bakers’ confectionery, also called flour confections involves principally making of sweet pastries, cakes, and similar baked goods.
Bakery confectioneries is one of the low capital businesses young ladies and housewives who train in bakery can start.
Bakery confectioneries can be started on a low scale and grow to big bakery industry and then Catering schools.
Tailoring involves designing, cutting, fitting, and finishing clothes. Tailoring requires skills. So, the first step to your success is to acquire skills. Go for both English and traditional wear tailoring, fashion, and design training. Once done, boom! You’re made.
Cloth designing and tailoring is often a neglected business idea. It pays and the good thing about tailoring business is that you can start on a small scale and then grow into a large fashion and designing industry
A beauty salon or beauty parlour is an establishment dealing with cosmetic treatments for men and women. Beauty salon is a lucrative business idea in Nigeria.
You can start on a low scale with two hundred thousand naira to five hundred thousand naira and grow the business to a large beauty and fashion industry. This is how to grow in this line of business.
SUCCESSFUL EDUCATIONAL BUSINESS
The major inputs in these businesses are computer, manpower, and space.
From Home tutoring (zero kobo beginning) to a private tutorial centre, and then to owing a School. This is how to grow in this line of business.
Tutorial business is a fast-growing business idea in Nigeria. A lot of people are already into tutorial business in Nigeria. You can get tutorial centres in every look and cranny of states in Nigeria.
It easy to start and may need little capital start-up. You can make huge money from this business if you’re in a good location.
From private tutoring with little capital start-up to owing a primary and secondary school and then to building university. This is how to grow successfully in this line of business.
From starting a catering centre with little capital to building a hotel or big restaurant. You can also grow to a catering school with outdoor catering services.
Nanny Service centre
You can start a Nanny service centre with little or no money and then grow the business to Daycare business and from daycare to owing primary and secondary school. You can end up by building topmost private university in Nigeria. This is how to be successful in this line of business.
From starting self-empowerment centre to owning a multi-factory company in Nigeria where different homemade products will be produced. While empowering young graduates, you are at the same time establishing them.
Computer Training school
From starting a computer training school on a low scale to establishing a big ICT firm. High institution can also be incorporated into a large ICT firm. This is how to grow in this line of business.
TECHNOLOGY SERVICES BUSINESS
The major materials needed are computers or laptops, sets of screwdrivers, testers, printing machines, phones. Mobile phones, internet connection and manpower inclusive.
Computer repair and services Business
From starting computer repair and services in low scale to sale of computer accessories and spare parts. From sales of computer accessories and spare parts, you can become a big importer of computer and computer accessories. This is how to grow and diversify in this business line.
Mobile phone repairs Business
Mobile phone repairs involve fixing faulty mobile phones of people. You need to be training before starting mobile phone repair.
You can start a mobile phone repairs business in low scale and then grow to new mobile phone production company.
Mobile Phone Accessories Business
Mobile phone accessories business involves the sale of cellular and mobile phone accessories such as batteries, battery chargers, mobile phone repair parts, phone jackets and cover, memory card, USB cable, modem, earpiece and many more.
Mobile phone accessory business is a lucrative business though no longer as lucrative as in the years back. If you intend to start a mobile phone accessories business, you can start on low scale and then grow it to an importer of mobile phone accessories
Printing business is one of the profitable business you can start in Nigeria. Though it can be capital intensive you can start on a low scale and then grow to a large printing firm.
Mobile apps development
From mobile apps development to large software development company. This is how to grow in this line of business.
Computer business centre
Computer business centre offers photocopying, printing typing and setting, laminating, scanning and many more. The business is profitable especially when you offer internet services alongside with it.
You can start a computer business centre on a low scale (mini-computer business centre) and then grow to ICT centre and a printing press.
Many tech and programmers earn their living developing games. You can start from Game development to building a professional website and then a software development industry.
Designing graphics is lucrative business in this digital era. Many companies are seeking for professional graphic designers. You can tap into opportunity if you have a good graphic designing skill.
You can start graphic designing with no capital once you have the skill. From graphic designing to graphic designing and printing industry.
From being a Directory publisher to owing a large online directory and private library. This is how to grow in this line of business.
Mobile money agent
From being a mobile money agent to owning and operating a financial payment system in Nigeria. This is how to grow in this business line.
PROFITABLE PRODUCTION BUSINESS
Production business will requirement machines for the production however, it depends on the type of production.
Liquid soap production business
Liquid soap production business requires in mixing chemicals. And there are so many entrepreneurial training centres you can register with to get the skills.
A Typical example is Basic Empowerment Centre (BEC), Enugu. With a capital of twenty thousand naira (N20,000), you can start liquid soap production. Begin from there and grow the business to a large cosmetic industry producing detergent, bar soap, toilet soaps and perfumes.
Fruit Juice production
Fruit juice business is among the emerging business ideas. The business is most popular in cities like Lagos, FCT, Kano, Enugu, Aba, Onitsha, etc. The fruit juice serves as fresh fruit juice or Package. You can start this business on a low scale producing 2 or 3 types of fruit juice. And then grow from there.
Perfume and body ornamental production
Perfume and body ornament production is a profitable business you can start with little capital. This business is thriving well in cities like Lagos, Abuja and Onitsha where there are large population young ladies and housewives.
You can start this business if you have the knowledge of mixing chemicals. From the production of perfumes and body ornaments to owning a cosmetics industry.
ONLINE BASED BUSINESS IDEAS
Online business ideas are businesses you can start online. There are many online business ideas you can start and they include;
Blogging is one of the top profitable online business ideas to start with low or zero capital. The blogging takes centre stage in internet marketing.
With your laptop and internet connection, you’re good to go. People like Linda Ikeji; Neil Patel, the English Entrepreneur and a host of others are big-time successful bloggers.
Read also: Real Truth about Making Money Blogging
Social Media marketing
One thing is to produce a product, another is for your product to reach your target customers. Most entrepreneurs are faced with the challenge of marketing their products. This is where Social media marketers come in.
Social media marketing has made buying and selling so easy. With the fast growth of social media, a good opportunity for marketing every product is assured. Social media provide a large market for selling every quality product. With social media marketing, you can reach a wider population of people who are real buyers of your products. You can take advantage of social media to sell any product and create a stream of income.
You can start social media marketing with little or money and grow to own a social media platform with a large audience base.
Ecommerce is one of the successful online businesses in Nigeria. The Ecommerce business has made buying and selling easy. But starting an eCommerce business is hard work and demands decisions that need to come together at the appropriate time.
Affiliate marketing is one of the online business ideas that can make you a millionaire. But it’s not easy to make money online through affiliate marketing. To be successful in affiliate marketing, you need to know the rudiments of affiliate marketing.
One good thing about affiliate marketing is that you can start affiliating with zero kobo. You can grow the business to become a big digital marketing firm.
Web designing and development
Web designing and development is meant those who have coding ability. There are vast opportunities for coders especially now that every business is trying to establish their web presence.
I have written a post on 20 Ways of Making Cash Online in Nigeria. These are all internet-based Businesses and they are specific means of making money online in Nigeria. We have other 30 Online Money Making Business Opportunities; you can consider starting today. Some of these internet-based businesses require little or no capital to start them up.
But, if you think that capital will serve as a hindrance in starting of any of these business ideas, I will advise you read up Ways to Raise capital to Start Business in Nigeria to help you get started.
If your interest is to start an online, read more on how to start an online business in Nigeria. You can make money online in those ways if you’re dedicated and hardworking. There is no hard and fast rule about making money online.
I know that what you have read above will be resourceful to you. There are some other lucrative and successful small businesses in Nigeria any serious-minded entrepreneur can do. All you need are determination, diligent and hard work.
So, we’ve done our second year of research on successful businesses in Nigeria with less capital. And we’ve added more successful business ideas with low capital in Nigeria 2020. This extra list of businesses in Nigeria with low capital has proven to be profitable. I’ll keep this article on Successful Small Businesses in Nigeria with less capital startup – updated.
I wish you good luck as you set to start up any of the above successful small businesses in Nigeria.