Almost every small lucrative business in Nigeria contribute so much to the Gross Domestic Product of the nation.
Today, tens of thousands of people are considering starting a profitable home-based business, and for good reasons.
People who have been part of the traditional nine-to-five workforce and are on the verge of retiring from that life are thinking of what to do next.
Also, young people that are unemployed or that have just graduated from school without jobs seek ways to make money doing a profitable and lucrative business in Nigeria.
Not quite long, I created a list of over 60 small business ideas but in this article, I have put together 7 home based and lucrative business in Nigeria.
7 Lucrative Business In Nigeria You Can Start Now
The good news: Starting a profitable home based business is within the reach of almost anyone who wants to take a risk and work hard.
Laundry business
This is a lucrative business in Nigeria you can start at home at low cost. We all love it when our clothes are well ironed and starched.
The busy lifestyles of professionals (bankers, secretaries, etc.) leave little time for them to do their laundry, so they need the services of people in the laundry business.
You may think it’s a very stressful kind of business but it is not. An effort needs to be put into any type of business to gain profit, so for a laundry business, you still have to put in some effort.
One client can come with 4 to 8 set of clothing for dry cleaning per day, and with the current rate of the dry cleaning service in places like Lagos and other urban cities, that’s real money.
All you need are the equipment and materials for your laundry business, space, and readiness to do the business. Trust me, it’s a lucrative business in Nigeria.
Also Read: How to start a bakery business in Nigeria
Party equipment rental service
Here in 9ja, every Saturday is about parties and occasions (owambe as they call it).
It could be weddings birthdays, or burial ceremonies. Party equipment rental services is one of the lucrative businesses you can set up conveniently at home.
Party equipment like chairs, tables, canopies, musical instruments, and even cooking utensils are in high demand.
If you have a little space in your compound where you can park your equipment, then you don’t need to rent a shop at a start.
Ice block and Frozen food business
This one is a hot lucrative business in Nigeria. During dry season, thirst for chilled water increases as the environment changes.
We all get dehydrated easily during this season and this lucrative business is a plus for people offering the equipment rental service above.
Ice block sales involve using a deep freezer to make ice block in polythene bags or plastic containers.
I must tell you that this business is so profitable (most of my pocket money back in school came from this business).
With occasions every weekend, you can be making a lot of money with the ice block business. This business is not a narrow one, it’s a lucrative business in Nigeria.
It is a big niche as it thrives in places with high population (schools, market places, commercial and business areas).
You can even sell to customers in neighboring towns where they have poor power supply.
Must Read: 4 Bitter Truth No One Will Tell You When Starting Your Business
A bag or plastic of ice block can be sold for as high as N200 to N400 depending on your location.
All you need to do is get a freezer, nylon (which is more preferable), a source of clean water, a generator (should you have poor power supply in your area), and your home (you may not need a shop), then you’re in business.
Here’s a quick detailed guide on setting up an ice block production business In Nigeria.
Rabbit Business
Rabbits can have anywhere from 1 to 9 babies, also called kits, in one litter. An average litter size is six. Hereditary and environmental factors play a role in the number of kits born in a litter.
This makes the rabbit business a lucrative business in Nigeria.
Rabbits can help you make money if you know your way around it and are ready to be on the learning curve to know more about the business.
How long do rabbits stay pregnant?
The standard gestation period for rabbits is 28 to 31 days long.
Guess what?
If constantly with a male, female rabbits can become pregnant and give birth once per month (I mean they can be impregnated within our hour of delivery).
Mother rabbits feed their babies twice per day. They typically feed them in the morning and in the evening so you need not worry about always being around to feed your rabbit.
Just feed them in the morning before you got to your place of work and in the evening when you’re back.
Rabbit meat is so nutritious, you can supply schools for their student’s practical laboratory experience, you can supply restaurants, and it is one form of cutting cost on buying meat from the market.
A mature rabbit here in Nigeria costs around N1,800 to 2,500 depending on your location. What if you have just 50 female rabbits? This makes the business a lucrative business in Nigeria.
Also Read: 5 ways to promote your small business
Poultry Farming – Chicken & Egg business
Millions of eggs are consumed every year. This is a big niche, I mean a hot lucrative business in Nigeria you can try out.
Egg production on a small scale is one of the oldest animal farming enterprises in recorded history.
Hens are fed some grain and nurtured for egg production and may be harvested later for meat.
You can set up small poultry farming at your backyard with just only 100 to 500 birds.
You can do this business at home and make cool profit. What you need include birds, pen, feed and medications.
If you have experience, then you are good to go, but if not you need an experience one who can take you through and set up the pen for you.
It need to be properly handled, if not it will result in loss of money and time.
Plantain chips business
Almost everyone I’ve met takes plantain chips. We buy them at grocery stores, on the road when traveling, and our kids buy them in their schools etc.
A piece of the plantain chips sealed in a nylon is being sold for seventy Naira or there about.
The more you produce, the more money you make and this makes it a lucrative business in Nigeria.
After removing the skin of an unripe plantain, slice so thin as seen in the picture above and fry in oil to produce the chips.
They can also be sliced vertically to create a variation known as plantain strips. You may put your label on your chips. If people enjoy it, they keep asking for more.
Fashion designing
Think of how many people love sewing new clothes for occasions. If you have the skill to set up this business, don’t hesitate to set it up; it’s a lucrative business in Nigeria.
You need only sewing machine and your creative talent to start this business.
Designing and making clothes for people from home with affordable price is profitable.
Some of the equipment needed in small scale fashion design business includes tape rule, scissors, chair, table, threads, and of course a complete set of sewing machine.
Starting small with creative designs, you’ll get more customers and even contracts depending on how well you do your marketing.
Lucrative Business In Nigeria [Summary]
Small businesses have contributed to the GDP of Nigeria and many people have turned to it as side hustles that will help them make extra income.
Still, entrepreneurship (owning and running a business) is not for everyone, wouldn’t you want to know if you have the entrepreneurial spirit? Check out my article in the link below.
Must Read: 5 signs you have the entrepreneurial spirit
These are my list of lucrative business in Nigeria to start now at low cost. Want to add to the list? Please use the comment box below.