Maybe it’s just me, starting your own business can be daunting when you run out of unique business ideas. I’m sure you must have experienced this as well, isn’t it?
So, we start to hunt for new business ideas in Nigeria with low capital that are less stressful, with lesser risks and with promising income.
Truth be told, a small business owner who operates a home based business contributes immensely to the Gross Domestic Product GDP of every country.
Let’s take it from the very beginning…
What Are Business Ideas?
Before I share with you these fresh business ideas in Nigeria, I think it will be best if you know what a business idea really mean.
According to the definition from Definitions.net, a business idea is a concept which can be used for commercial purposes. It typically centers around a commodity or service that can be sold for money, according to a unique model.
The ability to come up with a business idea can be transformed into a viable business, where ideas supported by feasibility and a business plan can then be sold to interested investors, firms, and interested parties.
Business ideas in Nigeria are always available through different sources; however, it is the application of these ideas, and timing that makes all the difference in failure or success.
Business opportunities often come out of the blue when business-minded individuals can identify a problem, understand it, and can proffer lasting solution to the problem.
For example, thriving businesses in Nigeria are becoming more successful because a problem was identified, means to proffer solution is in place, and people are ready to pay for the value they get.
Simply put a good business in Nigeria must center around:
- Problem Identification
- Means to Solve the Problem
- Plans to Solve the Problem
- Executing Plans to Solve the Problem
- Presenting the Solution in the form of goods and services
So, anyone looking for a business to do in Nigeria and wants to start that business should have that in mind.
The question on your mind right now is; “which business can I do in Nigeria?
First, you should know that starting a business is no joke, many people look for easy business ideas, side business ideas, etc. but nothing comes easy.
Even if you seek small business ideas in Nigeria, always remember that if you don’t have the key entrepreneurship mindset, you may get stuck.
How about we stop the talks and get started with the list of hot business ideas in Nigeria?
Top 100 Small Business Ideas List
In this article, I’ll share with you over 100 businesses you can star right now in Nigeria. (This list will be updated almost every day with more small business opportunities)
By the time you’re through with this list, you’ll be able to decide which is the best business for you, no one is going to do that for you.
NOTE: These investment opportunities in Nigeria will not just be a list, you’ll get in-depth information, business strategies, and pro tips on how to start each of these small scale businesses.
For ease of access, I’ve categorized these innovative business ideas into:
- Agriculture business ideas
- Services business opportunities
- Food business ideas
- Online business ideas
- Beverages investment opportunities
- Other Services
- Body Products
- Exports
A. Agriculture Small Business Ideas From Home
Either we all like it or not, agriculture is key to survival in every economy.
Interestingly, all branches of agriculture (livestock farming, crop production, etc.) can be spun into a profitable venture.
Start a Poultry Farming Business
Do you love birds I mean chicken, turkey, quail, ducks, etc.?
The poultry sub-sector is the most commercialized of Nigeria’s agricultural sub-sectors. It contributes about 9-10% of agricultural GDP (FAO, 2006).
Moreover, Nigeria’s chicken population is about 150.682 million (UNDP, 2006) of which 25% are commercially farmed, 15% semi-commercially, and 60% in backyards.
You can venture into different types of poultry and make residual income, right from your backyard. All you need is start small and grow big.
Here’s how to set up and run a poultry farm in Nigeria with professional tips and advice, that will help you succeed.
You’ll find more information on how profitable a poultry farming business is, how much is needed to start, how to run the business, marketing, etc.
Setup A Goat Farming Business
Goat farming is one of the best business ideas to make money.
Small ruminants, sheep and goats, are increasingly becoming a major source of animal protein in Nigeria, contributing over 30 percent to total meat consumption in the country.
The output of sheep and goat meat was estimated at 100 000 tonnes in 1965 and 163 000 tonnes in 1980. What about today? You can do the guessing!
Goats grow faster and convert food to meat better. They have a better temperament for ease of handling, and pregnancy is just between 5 to 6 months.
Learn how to start a goat farm in Nigeria with information on various goat breeds, the cost involved, feeding, healthcare, and more.
Start A Rabbit Farm From Your Backyard
Talk about nutritious food and meat and you’ll find rabbit meat on the list. Rabbit business is one of the low cost business ideas in Nigeria.
But, is it profitable?
With just 1 buck (male) and 2 does (females), you’re already in business. With an average gestation period of 31 days, a doe can give birth to 9 kits!
There are other amazing benefits of starting a rabbit farm. Talk about the fur, the meat, health benefits, and more.
Restaurant and fast foods need rabbit meat, laboratories in senior schools need rabbit for their students during practicals, and there’re more opportunities.
Learn how to start a profitable rabbit farm in Nigeria with practical tips for housing, feeding, medication and more.
Take Pig Farming Seriously
Pig business is also one of the leading investment opportunities in Nigeria.
Nigerians love pork! Not just Nigerians, in 2015 China demands pork imports and so is it in other countries.
In Nigeria today, a full grown pig costs around 70,000 to 80,000 with just 5-6 months of good feeding. Come to think of having 20 pigs, as they give birth to many at once!
Restaurants demand pig meat to serve their customers, during owanbe parties people demand pork, talk about every occasion with item 7, people want to take meat!
Learn how to start your own piggery business in Nigeria and find practical tips that will help you get started on the right foot.
Guinea Pig Business
These little creatures can make you money! There are little guinea pig farmers in Nigeria and this could be your entry into the market.
Guinea pigs are not just food, they can be very good pets. Keeping guinea pigs and feeding until a sale is one of the easy business ideas in Lagos, Aba, Ibadan, and other places in Nigeria.
According to CNBC Africa news, there are serious reasons why Africans should start guinea pig farming business.
Guinea pigs are sold in pairs in Nigeria from around N2,500 to as high as N10,000. Interestingly, the cost of feeding, care, etc. is super cheap.
Learn how to start a guinea pig farm in Nigeria and learn more practical tips to succeed in the business.
Fish Farming Business
Another business with proven facts of profitability is the fish farming business. Fish farming is also an established lucrative business.
The demand of catfish is increasing. Among all the fish species, catfish farming has a great demand in Nigeria.
You can start fish farming in small scale for fulfilling your daily family demands or for earning some extra cash with your regular income.
Learn how to start fish farming in Nigeria with practical tips to succeed.
B. Food Ideas – Emerging Business Opportunities In Nigeria
Just like I said before starting this list of small scale business ideas, I’ve placed each of these 100 plus business ideas into different sections.
Right now, it’s all about food business ideas.
Start A Restaurant Business
Ever wondered how much canteen, buka joint, mama put or restaurant business make every single day?
With the sales of a plate of meal costing around N250 to N500 depending on what you ordered (meat, fish, dodo, egg, etc.)
Not just Lagos o, every area in every local government of every state in Nigeria dey get fast food sellers. Some have even upgraded to food delivery.
Can you cook? Do you love to quench the hunger of hundreds of busy people in your community? Are you business minded and willing to do the work?
Then you can learn to start a fast food canteen business and make smart passive income every day, as you grow from small to big business.
Start a Bakery Business
Oh My God! How many people take bread every single day? Not just bread, talk about cake, doughnut, etc.
Nigeria’s bread industry according to a report published by the Global Audit and Market Research Firm KPMG is worth about N120 billion in 2015 and
expected to expand by 3% in 2019.
Hmm, bread and tea, bread and moi-moi, bread and beans, bread and egg, and some even take bread and noodles! Millions of people take bread every day.
If you have what it takes, you can establish a bakery, start small and grow big in no time as there’s huge market demand for it.
Flavored Popcorn Business
Did you know that some people are making at least N5,000 daily from their popcorn outlet?
With the milky sweet taste of this so-called snacks, people are making reasonable income every month. Yes, with popcorn business.
Students (primary, secondary, or tertiary) take popcorn, restaurants sell popcorn to interested customers, cinemas as well package popcorn as you move in to see your favorite movies.
If so much people love popcorn, there’s only one simple explanation of why popcorn sellers are still in business – popcorn business is profitable!
Learn how to start and run a profitable popcorn business in Nigeria, with information on where to get popcorn maize, popcorn machine price, pro tips for success and more.
Frozen Food Sales
Next on the list of food business ideas in Nigeria is starting a frozen food business.
How about I stop the blurb? Let me take you to our practical guide to setting up a profitable frozen food business in Nigeria
C. Rendering Services – Hot business Ideas In Nigeria
Here comes another section of business ideas for women and men. These part has to do with skills you have.
Catering Services
Catering services have been one of the successful business ideas in Lagos, and every part of Nigeria.
If you know what you’re doing, (especially ladies), you can make consistent profit from rendering catering services.
Come to think of it, if you’re attending any ceremony (be it small or big), you’d want to eat something, right? Event organizer won’t want to let people down.
Be it child naming ceremony, housewarming, weddings, burials, catering service is highly required to make the occasion a complete one.
Be it cook service, table setting, waiter, etc. You can build not only a small business but a big company out of your catering efforts.
Learn How to start a catering service business, with information on steps to follow, ingredients, equipment, and licenses needed to kick off.
Laundry Services Business
Who doesn’t love putting on a clean, ironed and well-startchd clothe? Surprisingly, many don’t have the time to wash or press clothes.
The Nigeria labor (work) force have lesser time during the day to carry out domestic cleaning (clothe washing, home cleaning, etc.)
So, Laundry business owners make shit ton of money providing dry cleaning services to these set of people.
Many undergraduate students in Nigeria become so lazy to wash at the end of stressful and lecture filled day, so they request laundry services.
Did you know you can start a laundry business right from home and make passive income meeting the needs of others?
Learn how to set up a profitable Laundry Business and Dry cleaning services and find practical steps to making it big!
Start Ice Block Production Business
One of the most overlooked small scale businesses in Nigeria is the Ice block production business.
Almost every day (especially on weekends), people storm ice block business owners as they order tons of ice block for their various parties.
One interesting thing about ice block business is, you don’t need to undergo some kind of formal or informal training to start, it’s easy!
You can be sure to make hundreds of thousands of Naira monthly if you know how to set up and run an ice block business In Nigeria.
Start a Day Care Center
Do you love kids? Are you compassionate and love caring for those that are so dependent (children and adults)? You can earn alongside what you’ve got in you.
With the increasing population of Nigeria, and labor force projection to be at its peak by 2034, busy parents may need your service really bad.
Why not learn how to start a creche or daycare business in Nigeria now? You’ll find information on the difference between creche and daycare, types of daycare, the amount required to start, equipment and more.
Hair & Beauty Salon Business
We all want to look good isn’t it?
Helping people feel good about the way they look by providing salon services and products is key to running a beauty salon business.
Did you know that people 35 to 64 years of age spend 10 to 14 percent above the average on beauty products and services, says SBDCNet.
Beauty salon business is one of the profitable business ideas in Nigeria that many have started and you can too.
But how can you go about it? Here’s our detailed guide on how to set up hair and beauty salon business in Nigeria today.
Transportation Business
With a population of over 200 million, Nigerians need to to move here and there isn’t it? With Lagos being one of the busiest state, the importance of transportation can’t be over emphasized.
Is car transport business really profitable? Yes. Learn how to start transportation business in Nigeria and find tips on how to succeed.
D. Online Best Business Ideas to Make Money
This part will definitely interest almost anyone who is tech savvy, or ready to learn how to use the power of the internet to his/her advantage.
Online businesses are all over the place online, generating millions of dollars in transactions each day.
Right here, I’ll share with you online business opportunities in Nigeria and ideas to make money from home legally, while working at your own pace.
Start a Blog
Maybe you don’t know the power of a laptop and internet connection. Let me tell you.
While some find it hard to differentiate a blog from a website, these two internet terms are making smart millionaires every month.
Starting a blog can help you become a force to reckon with, it could give you a voice, you can reach potential customers and even make money online.
Your blogs can be used to present information that people are ready to pay for. For example, I make money on this site oasdom.com through variety of ways.
I make money selling digital information in the form of courses, I make hundreds of $$ from sponsorship adverts (with just 30 minutes of work), Google Adsense is another source.
Meanwhile, I have not explored other sure-fire avenues to earn online. What if you could own a blog that gets you just 100,000 visits every month?
You’d be glad to know that I have a free course on how to start a blog, with information that will help complete beginners from start to finish.
Over 400 million people read blogs every month and of course, you’re reading one right now. Start blogging today.
Build Website For People and Businesses
Website Development today is dope! It is one of the top online business skills in trend right now.
According to stats, 2 blogs are created worldwide every second. This means over 172,000 websites or blogs are being launched into the web space.
People are online, either looking for information, or products and services to buy, business owners are also online to meet these needs.
And you know the meeting point of buyers and sellers in this age? Its websites/blogs. But many people hire web designer for huge fees.
Why can’t it be you?
Did you just say you can’t learn web design codes or write HTML, CSS, or php scripts? Things are a lot easier than you think.
You can now create stunning website WITHOUT having any programming knowledge and without writing any line of code, and you can charge as high as you want.
Learn how to build professional websites working from home, and make money online legitimately.
Start a YouTube Channel
If you think about an easy online business in Nigeria that anyone can start right now, it’s starting a YouTube channel.
Have you seen people reviewing smartphone, gadgets and other devices on YouTube? They make money in series of ways.
YouTube Partnership (Adsense) is one way, sponsored reviews is another, and these YouTuber make money from affiliate marketing, making profits from products they don’t own (legally).
Learn how to start a YouTube Channel and make money uploading videos of value to the internet.
Business Ideas and Investment Opportunities (Summary)
Is that all 99 hot business ideas in Nigeria? Hell no, just like I’ve promised, this list will be updated with more business opportunities.
Just so you know, a business won’t be a business if it doesn’t solve a problem. So, don’t just go in for the money, be ready to provide solutions which will be of value to people.
It took so much time to put this list of businesses together, so I’d really appreciate it if you share this post on all your favorite social media platforms.