Lucrative Business Ideas in Nigeria for students, graduates and workers | Top 120

“Lucrative Business ideas in Nigeria for students” has always been my number one question people ask over and over again.

I had to make a thorough research and possible practicals to ensure that I have the best information possible for you.

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Below is the list of different business ideas in Nigeria you should consider adding to your job if possible. 

Quick note: At the end of the article, I will give you my top 10 picks that will fetch you silent money and why you need to start a business.

If you are too busy to read, you can watch this for now to know the top 10 lucrative agricultural business

Now let’s get started

Want to establish a company in Nigeria with a small amount of cash? Then I’ll show you some of the top Nigerian businesses with minimal start-up expenses if you respond yes to this question. 

The following is a list of my top 120 small but lucrative business ideas in Nigeria for students and graduates that can make you wealthy in Nigeria.

More than 1,000 business ideas can make you wealthy in Nigeria, but you’re not searching hard enough to notice them. 

If you ask me, Nigeria is a massive market. Indeed, Lagos is the financial centre of Africa and is, therefore, a prime location for investors.

120 lucrative business ideas in Nigeria for students and graduates

#1. Producing sachets/bottles of water

One of the finest methods to generate money in Nigeria is owning a sachet and bottled water business. 

Unquestionably, this is one of the greatest side hustles for part-time employees to pursue in Nigeria. 

‘Water is life’. It is a basic necessity for every living creature, and its supply can never outpace its need. It is very lucrative and comes with a high degree of returns. 

You can obtain the expertise necessary by first learning as an apprentice in a pure water firm. You’ll also need to obtain the required legal credentials.

Enough money is needed to establish a business of this nature. Start with a fast loan.

Every day, you may produce up to 2,000 sachets of water and 700 bottles of water with just one machine. Think about your monthly income from this business.

#2. Fashion designer and tailoring services.

Sewing a single fabric may make you tens of thousands of dollars if you know your art properly. 

With the appropriate clients, of course! A school uniform contract might be your first step, followed by additional sewing jobs

The tailoring industry is one of the largest in Lagos today. Investment in this company is justified by the fact that it dominates most of the fashion industry’s segments.

A professional fashion designer with a solid business strategy would be able to attract clients based on the quality of his/her work.

Even casually dressed men and women would spend a lot of money on their clothes and outfits. A lot of money is to be made if you have a creative imagination or can reproduce a red carpet attire for your clients.

#3. Car wash

One of the numerous businesses that might provide daily revenue is a car wash business It’s as simple as setting up a storefront, buying the appropriate materials, and getting started. 

Setting up a vehicle/car wash is another wonderful option to make money in Nigeria. If your position is ideally located along an expressway, then be certain that you’ll be generating up to ₦30,000 every day.

You may simply operate a car wash and hire lads that will perform the heavy work for you. 

In a city with a huge population of automobiles, your revenue is virtually limitless. Nigerians should explore this brilliant business concept.

#4. Investing in real estate and flipping properties

Business in this field is continually booming, making it a great business concept for you. You should start this business if you seek financial independence. 

Short-term and long-term profits are constantly appearing in the real estate business. It is indeed one of the lucrative business ideas in Nigeria

Also, you may tell a contractor that you can supply them with the materials they need and make millions in a matter of days. As a matter of fact, this is one of the quickest methods to become wealthy in Nigeria.

#5. school Business

lucrative business ideas in Nigeria

In Nigeria, owning a school is a certain way to become wealthy. Regardless of the number of students you have, you will generate a good amount of money. 

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During my high school years, my class alone had about 50 students paying N16,000 each student, every term. 

Ownership of a school, from crèche to nursery to primary school, would bring in a lot of money, but it would cost a lot of capital. 

It doesn’t matter how many schools there are, yours will always be successful owing to the large number of pupils to choose from.

But you don’t have to invest millions at once. Grow your firm by implementing creative ideas and dedicating yourself to the cause.

Set up your school and start generating money when you have the money to do so! It is one of the business ideas in Nigeria I am longing to implement.

#6. Selling Okrika(Used clothes)

okrika clothes

You may become a big provider of Okrika marketplaces by importing reasonably used clothing. Poor, middling, and even some wealthy shoppers frequently buy from this market. 

Nigerians, yearn for designer clothing at shops. 

The vast majority of the population is impoverished and prefers to shop at the renowned “Okrika” or thrift stores for gently worn clothing. 

A wide range of rivals can be accommodated by this business opportunity so start small and grow. A comprehensive guide to starting a micro importing business in Nigeria is also available here.

#7 Sell New clothes(Boutique)

here is an article on how to start a boutique store

Business idea

Get yourself a little boutique or shop where you may sell clothes, shoes and other accessories and you’ll be well on your way to financial success. 

In a mall or prominent business district, if you are lucky enough to land a storefront, you will make a lot of money. You may also rent a modest space on Lagos Island to get your business off to a good start.

#8. Disposal of garbage

business ideas

This is also a highly profitable business concept, as recycled trash has a wide range of applications.

As a result of the country’s woefully inadequate waste management infrastructure, Nigeria has experienced a significant quantity of pollution. 

Nigerians and companies have come up with a variety of commercial concepts for packaging, recycling, and converting trash into organic fertilizer. 

You may also discover more about recycling businesses in Nigeria by visiting their websites.

#9. Services of rental equipment

business ideas

It is possible to make a lot of money renting ordinary goods such as gas cookers, speakers, pots, and other equipment for celebrations and festivals in Lagos.

You may acquire all this equipment and rent it out to individuals that require it for festivals and other events.

Knowing that they may borrow equipment is a big factor in why people don’t buy it. You may rent out seats, music boxes, and canopies by purchasing them. 

Maintenance of the equipment and advertising are all that are required for recognition which makes this one of the best business ideas in Nigeria for students and graduates in question.

#10. Planning events

Organisers of large events like weddings, religious thanksgiving, and birthdays often spend a lot of money to make sure that everything runs well. 

Every weekend in Nigeria is filled with events. Twenty planning services might be recorded in various regions of the country in a single day. 

Events and services may make you a lot of money, so don’t be fooled! Young entrepreneurs and business people in Nigeria will find this to be one of the greatest start-ups. A small- or large-scale operation might generate a lot of revenue.

Even if you don’t actively work as an event planner, you may make a lot of money in this career which is why it is one of the business ideas in Nigeria.

They would constantly need a planner to make sure everything ran smoothly in exchange for some pay. Assembling and planning abilities should not be limited to the bedroom. 

Event planning is a handy way to improve your quality of life. It is a very good business idea in Nigeria

#11. A gas station/shop

Business ideas

Kerosene’s hay day has passed. The demand for gas in Nigeria has soared as many families now cook using gas cookers. This makes a gas shop one of the lucrative business ideas in Nigeria.

If your shop is located where people can easily walk down to buy from their homes, you will likely make lots of money.

If your shop is a bit far from residence, ensure to make it mobile in that you go to get the cylinders from different houses, fill and return to the owners.

A shop, gas cylinders (you may start with one or two), and some basic supplies, such as scale and hose, are all you’ll need to get started.

#12. Gaming House

Another great approach to generate money in Nigeria is by opening a gaming house near your home. Players of PlayStation 3 and 4 adventure games pay a lot of money to play these games.

While I was in school, I spend around N500 – N1,000 a day playing God of War and call off work. There are hundreds of people just like me who are waiting for you to come to their rescue. 

Without any worry, you may establish your own gaming house as it is an option when talking about business ideas in Nigeria for students and graduates

#13. Laundry and dry cleaning service

I have prepared an article on how to start a laundry business

Business ideas

A laundry company is another business popular in Nigeria nowadays since Nigerians are so busy and they rarely have time to wash their clothes and other household goods.

This business takes a little cash, and you may do it directly in your home without a shop. All you need is a washing machine, a functional telephone number, and a billboard.

Although it requires very little effort, this is a business that can be started on a budget of N50,000. 

Laundry and dry cleaning services are easy to open and cost-effective to operate as an independent business.

You should also consider starting a laundry if you are looking for business ideas in Nigeria. 

#14. Transportation industry

Business ideas

In Nigeria, the transportation industry is also a significant player. These tiny companies – which include tricycles, motorbikes, taxis, and buses – bring in close to N400,000 each week.

Anyone who has a job or owns a business or transports products will do so. Because movement is a fundamental feature of all living things, everyone is always on the go. 

To meet this fundamental requirement, you may hire a fleet of automobiles or a single vehicle and get compensated for it. In the transportation industry, there is room for everyone.

An air-conditioned office worker is unlikely to earn that much in a month. A driver may be hired, and you can earn up to N100,000 a month without actually working. One of the best business ideas in Nigeria to consider.

#15. Opening a restaurant 

Business ideas

The restaurant is also one of the great business ideas in Nigeria. Every day, restaurants and cafes generate over 38% profit. 

Establishing a restaurant is a great way to provide for the needs of the general population. You can make a lot of money with this business, even if you start with a little amount of capital. 

Those who are unable to cook or who are too busy to prepare their own meals will patronise you and in turn, you earn money by preparing and serving meals. 

An eatery demands a lot of work, as well as cooking and living facilities, but it’s one of the most lucrative business ideas in Nigeria! Then, in no time, you’ll be making money every day.

#16. Selling plantain chips

Business ideas

From streets to luxury stores and traffic hawking, plantain chip is undoubtedly one of the typical foods that you would find everywhere. 

Everyone enjoys it since it serves as a chewy snack at any time of the day therefore it is one of the business ideas in Nigeria that can grow with minimal cash to start with.

Plantain chips are easy to manufacture and sell daily. Either you start small and sell yourself, or you provide a large number of outlets in a huge quantity. 

Selling plantain chips is a certain method to generate money every day.

#17.  fruit juice

Fruits like mangos, oranges, bananas, and pineapples, which are abundant in states like Benue, are often thrown away. 

Making and selling this rit juice is one of the profitable business ideas in Nigeria for you, despite its simplicity. 

Because of the huge demand for juice, firms like Chi continue to grow in Nigeria. Start a juice manufacturing firm to get a piece of the pie.

It is possible to purchase them on a budget, develop effective preservation procedures, and begin producing your own juice (drink and money).

#18. Rice plantation

Rice became even more valuable once the Nigerian border was blocked for rice imports. As a result of strong demand and inadequate supply, rice has become both expensive and lucrative. 

You may make a lot of money if you have adequate funds to start a rice farm company in a favourable state

It’s possible to start small and then expand. To ensure the rice is correctly destoned, This is also among the business ideas in Nigeria you should consider adding to your list

#19. General Agriculture

Planting crops and raising livestock is a great business concept. Growing staple foods like rice, cassava, potatoes and beans have been proved to be highly successful in the past.

I decided to list the rice plantation separate because it is very very lucrative. I have done this and will continue doing rice farming.

Here in Nigeria, you may quickly create a large network of farmers and agriculturists and begin your journey to financial independence.

#20. Poultry farming

Poultry farming is one of the business ideas in Nigeria that will grow in any place within the country. 

here is an article on how to start a poultry business

Although it is a capital intensive business and money may be a problem for starters and college graduates

You may need to check out platforms such as Branch loan, Carbon loan, Palmcredit, Renmoney, Aella Credit, Quickteller loan and Opay loan if you choose to pursue this business concept.

It involves the rearing of domesticated birds like chickens, turkeys, ducks, and geese, for their ultimate product. You may either sell them as meat or use their eggs as food to feed yourself and others. 

You can attract investors to your poultry business if you manage it successfully. Poultry is one of Nigeria’s most profitable enterprises. This reminds me of the next business idea I want to share

#21. Production of animal feeds

This business helped me a lot that I have to share. It was before the Corona Virus lockdown that I began raising chickens, and I have been spending more than ₦2,000 per month on feed for them ever since. 

Feeding my birds isn’t easy, but I must do it if I want to keep them alive. Imagining that you could provide food to everyone in your town is a daunting task.

I know of an employee who works in the oil field who resigned from his work after setting his poultry business to standard.

Food for animals makes up over 70% of kitchen waste, let’s be honest! Everything that you tossed away while cooking may be collected and thrown where your birds or cattle are kept. 

If you have a lot of waste, you may industrialize this process and sell it to other livestock producers as feed for their animals.

This company is really easy to establish and it’s one of the business ideas in Nigeria you should think about. As a result, there is an increase in the production of animal feed.

#22. Electrical Power

Businesses that use alternative power sources prosper in Nigeria because of the country’s severe energy shortage. 

Generators, inverters, solar energy, and windmills are included in this category. These items are in high demand, and you may take advantage of that by beginning a business in that field.

Due to the high cost of the items, you may need a large quantity of cash to start your firm. A big profit, on the other hand, is almost certain.

#23. Selling Mobile phones and accessories

People today carry at least one smartphone in their pockets, along with additional devices including mobile phones, USB chargers and Bluetooth speakers, headphones and earpieces. 

Desktop chargers and power banks are also commonplace. Mobile phones and other electronics can be sold for a variety of reasons. 

China, Germany, Belgium, the United Kingdom and the United States are all easy places to import these devices and sell in Nigeria.

#24. Repair of mobile phones 

There is no how a phone or any gadget will survive forever, which calls for the service of a gadget technician.

Phone repair kits may be purchased for a reasonable price and with no training. Communication skills are also important, as they can help you gain clients and develop your business in no time.

#25. Import export business

One of the easiest ways to establish a business in Nigeria is by importing items into the nation. It is one of the least mention business ideas in Nigeria.

here is a detailed guide on how to start an import export business

In particular, automobile gadgets, health items and mobile devices are extremely profitable in international commerce with China, the United States, Great Britain and South America.

There are also a few things such as cocoa, tomatoes, timber, rubber, etc, we can send out to other countries via the export concept. 

#26 Forwarding of Freight

It is more like importation but in this regard, it takes a different approach. When it comes to importing items, you don’t need to establish an office or invest money in the process. 

If you can find a friend or brother abroad who will accept money from you in exchange for the items, that’s all you need. On arrival in Nigeria, you pass them via customs, then reap the rewards.

It is possible to make millions in Nigeria by helping others import their items and getting compensated for it. My opinion is that this is one of the most popular business ideas in Nigeria

#27. Animal Husbandry 

This is the care and management of animals and it is one of the most rewarding business ideas in Nigeria North.

Animal husbandry is a part of agriculture in Nigeria, which has a strong agricultural bent. We do not restrict ourselves to chickens; we also raise cattle, snails, goats, fish, and other species. 

Just enough land, money, and patience are needed. Your pick of animals and their care must also be thoroughly researched.

#28.Catering services

Man cannot live without food, especially on important occasions. It’s possible to learn how to cook and to put food delivery orders for important events

Wedding catering, church catering, birthday catering, and other social event catering are all excellent business ideas that may be profitable even on holidays. 

This business concept is excellent for Nigerians seeking a second business because it can be done on the weekends.

Catering has become a popular and lucrative career. Consider adding it to your list of profitable  business ideas in Nigeria

#29.Veterinary services and pet breeding 

Individuals now consider pets to be members of their families, and the number of people who adore dogs and cats has tripled in the previous decade. 

In Lagos, Abuja, or Port Harcourt, you may make a lot of money by starting a veterinarian company.

If you have a good understanding of animal anatomy or are a pet lover, this is one of the finest investments you can make. Dogs, cats, birds and fish can be sold and treated at local animal shelters. You can earn up to N40,000 for each service.

#30. Making liquid soap

Churches and other groups frequently give this kind of training for free. Individuals, even the typical ones, are fond of liquid soap. 

To make your product stand out, you simply need a fantastic branding and packaging concept.

#31. Production of Nylon Bags

In Nigeria, making polythene bags is another fantastic method to generate money. Starting this business doesn’t require any unique expertise on your part. 

You only need a nylon-producing machine to produce polythene bags, which you may then sell for a profit. It is indeed one of the business ideas in Nigeria now because almost everything goes wrapped

#32. Development of mobile applications

Another fantastic approach to generate money in Nigeria is by coding and creating apps. The profitability of this venture is enormous. Work for an app-maker and you can still earn a lot of money.

Paid advertisements, Google AdMob, and affiliate links can also be used to generate revenue. Nigeria has become a country where everyone carries a smartphone or other technology. 

It is possible to create a basic loan calculator and sell financial advice to your users. That’s pretty awesome, right? Then it is one of the business ideas in Nigeria you should consider

#33. Designing graphics/Aesthetics

A background in the arts or a talent for the arts may make this a good business choice. It’s possible to learn graphics design even if you don’t have a background in art.

You can find them everywhere around you. Among the graphics are those promoting churches and hotels as well as factories, enterprises, and government initiatives. 

Starting your own graphic design business with your printing press is not a terrible method to generate money in Nigeria.

To get started, this firm takes a little amount of cash. The first thing you’ll need is some design program, such as Adobe Photoshop or Illustrator.

#33. Lesson/Tutorials

You may make good money in Nigeria by giving tutorials to students who require help in a certain academic subject. As a result, it’s one of the business ideas in Nigeria for students.

As a result of its rapid growth, the education industry is in great demand in Nigeria.

Is this a business for you if you’re really excellent in math, science, or any other subject? For Jamb, Waec, etc. students, you can schedule tutorials for them.

Start with a shed, a chalkboard or whiteboard, and a billboard or signage to let students know about your services, and you’re good to go.

#34. Cleaning Services for the Home and Office

Having a clean and healthy atmosphere is vital. Those that are too busy working will hire others to clean their offices, businesses, or houses which makes this one of the profitable business ideas in Nigeria

For anyone ready to give it a shot, this is a simple job to perform. A few fliers promoting your services are all you need.

#35. Programming

No matter where you reside, programming is still one of the trendiest talents that will make you wealthy. In and out of Nigeria, programming is a lucrative business concept.

Omegapayz offer ML training for those who are interested. Send a mail to us or visit our service page

#36 Service for women’s beauty/Beauty house

This is one of Nigeria’s trendiest companies. It is a favourite among Nigerians, and we always want to appear nice and good looking.

Social occasions such as weddings, birthday parties, and naming ceremonies are times where individuals spend a lot of money to appear nice.

This business takes very little funding to get off the ground. It’s a good idea to get started with some basic things like mascara, eye pencil in black, brown and white, a pro concealer and an eye highlight brush before moving on to more advanced items. 

You will eventually be able to purchase the entire make-up kit.

#37. Making Furnitures

What makes a house look more beautiful is readily sold in Nigeria. And being a part of this ecosystem is very rewarding.

The market in Nigeria is flooded with everything from tables to cushion seats to iron chairs, bed frames, and even bookshelves. It is possible to manufacture furniture and sell it for money.

#38 Grocery store/supermarket

This is another great small-scale entrepreneur concept for Nigeria. Depending on how you came up with the concept, it can potentially be a source of passive income for you. 

Anywhere in Nigeria, this is one of the greatest companies you can start.

#39. Farming of cassava

In Nigeria, “Garri” and “Fufu” are two of the most popular dishes to consume. Because both products are derived from cassava, they are in high demand. 

As a result of the stress and nature of cassava farming, many people decide not to engage in the industry. But if you can keep your wits about you, you’ll be able to make a decent profit.

#40. Materials for construction/Building materials

Because they are among the few sites in Lagos renowned for providing original construction materials, localities like Ikotun, Oshodi, Ojo Alaba, and Oduade are quite popular. 

As a Nigerian, you may make a lot of money by selling high-quality building supplies like toilet seats and POP.

#41. Selling of recharge cards and data.

Almost no young adult in the 21st century does not own a cell phone. Having a phone is one of the most important things in life. 

Recharge cards and data are therefore equally important and in high demand. Neither formal training nor a big amount of cash is necessary for you to begin this business.

#42. Photography

This is also one of the lucrative business ideas in Nigeria because memories are among an individual’s most prized possessions. Photographs are one way to keep them alive.

you can read up this article on how to start a photography business

The demand for professional photographers is astronomical. A very excellent camera and basic photographic instruction are the only requirements for starting this company. You’re all set to go.

#43. Selling of Landed Properties 

You should consider investing in landed property. Even in the long run, land values will continue to rise. It is one of the business ideas in Nigeria. Yeah!

This is a pretty brilliant business concept if you ask me. You may also generate money by renting out or selling a built-in house if you own a piece of land.

#44. Scriptwriting

For you, this is another great business concept! Making money writing and publishing comics and other media is a great way to get started as a student or someone who just love writing.

It’s possible to sell a screenplay and still receive full credit for it, even if you don’t have the funds to create it. Writing is a skill that should be squandered.

#45. The ice block industry

As a result of the scorching heat, people are in search of cold water and refreshments Which makes it one of the business ideas in Nigeria you should consider this time

This business is selling like hotcakes because of the country’s unpredictable power supply. Investing in this field will certainly pay off.

#46. Blogging

As a booming business in Nigeria, this is one of the most successful. Bloggers may be your best choice if you’re trying to generate money online.

To start a blog company, you do not need a lot of money. Get a domain name and hosting, pick your blogging platform (e.g. WordPress), design and launch your blog, and then you’re ready to post.

#47 Consultancy

When it comes to agriculture, money earning, or relationships, I think you should start your own consulting business. 

The business concept that you don’t want to miss out on! Depending on your area of expertise, this business concept can easily make you a lot of money. 

As a result, you can generate money while also helping others. That’s pretty awesome, right? Consider it as one of the online business ideas in Nigeria.

#48. Production of Concrete Blocks

Cement block making is one of the greatest occupations for someone who knows how to mix cement. 

Contrary to most of the occupations on our list, this one does not require any particular skills. Block-making machines may save you a lot of time and frustration.

Many individuals want to develop their homes, hotels, schools, and churches with your help and this could be one of the business ideas you wanted. Setting up a cement plant doesn’t require you to spend a lot of money.

#49. Home Decor

According to your client’s preferences, this is the skill of decorating or creating a residential property or commercial company space

This company may be a good fit for you if you have a keen eye for art and colour. Take on interior design jobs and you’ll make a lot of money!

#50. Assisting with bouncing and security

As a bouncer for clubs or a bodyguard for wealthy individuals, you won’t get rich doing this, but it pays well. 

Set up a security firm to provide services to interested clients and start earning passive revenue from the individuals you hire as security guards.

#51. Haulage Services

Instead of moving people, you may establish a haulage service and move products from one location to another. 

One of the greatest small business ideas for young investors to try out this year is this one. Up to N200,000 per service may be earned. 

You can even save enough to establish a second business! A truck can be rented out to drivers without the owner being the driver.

#52. Waste management service

Nigeria’s waste management system is badly undeveloped, which has contributed to a considerable quantity of pollution in the nation. 

While I was serving, I had to travel by water, the flood of nylons and sachets on top of the water was incomprehensible. I thought of starting this business then in waste management. 

Nigerians and companies have come up with some commercial concepts for packaging, recycling, and converting trash into organic fertilizer. 

This is also a highly profitable business concept, as recycled trash has a wide range of uses. You may also learn more about recycling in Nigeria by visiting one of the numerous recycling firms in Nigeria.

#53. Bricklaying

Bricklaying is one of Nigeria’s highest-paying professions, yet the manual work involved is extremely taxing on the human body. This is a lucrative job, despite the disadvantage. You can make N5,000 to N20,000 for a day job.

If you wish to generate money lawfully in Nigeria, you might also consider this business opportunity. 

#54. Development of websites on a contract basis 

Honestly, this is what’s paying me now and if you need my help I can. For people to market their products and services, many businesses require at least a rudimentary website. So, if your strengths lie in programming and design, this is your best choice.

Before you can generate money from this business concept, you’ll need to master fundamental programming languages like HTML, PHP, CSS, and Java.

Profit from this company from the comfort of your own home. Unending possibilities may be found on freelance platforms such as Upwork, Fiverr, etc.

Marketing your service online or in marketplaces like Jiji, Fiverr, or Iwriter is another option if you are excellent at programming or have a solid understanding of web development.

Blogspot, WordPress, Laravel, and Drupal are just a few of the platforms you may use to build an online business. 

#55. Shoemaking

Being a cobbler is not the Aboki shoe repairman, but the unique, handcrafted shoes and slippers that retail for more than N3,000 a pair.

As a shoemaker, you may make a lot of money in Abuja if your store is located in a famous area like the Jabi Lake Mall or the Wuse District. 

Approximately 3,500 yen is spent on each pair of handmade slippers, and 30,000 yen is spent on each pair of leather handcrafted shoes, according to my research. 

I encourage Nigerians with a bit of experience to take a cue or two from this business. It is one of the business ideas in Nigeria that need training.

#56. Be a Modeling agent

Create your own modelling agency and start earning money immediately. Several Nigerian modelling firms generate passive revenue from their models. 

If you run a modelling agency, you may earn at least 100k per month, even if it is an internet agency. The existence of a physical address for your business is not required.

#57.Affiliate marketing 

Affiliate Marketing is a form of marketing in One approach to generating money online in Nigeria is to sell your own products. 

To get started, simply sign up for any affiliate network of your choosing (e.g. Jumia Affiliate, Konga, etc) Your affiliate link is waiting for you.

Marketers that sell items on behalf of an organization or individual are affiliate marketers.

ve compiled an article on how to make money with

#58. hairstyling and jewelry-making

For Nigerian women, there is yet another low-cost business concept to consider. This is also one of the greatest side hustles in Nigeria for grads and students. 

Hairdressing is a simple business to establish in Nigeria, and it pays faster than most other office occupations.

It is estimated that some women invest as much as N108,000 in the care of their hair. A hairdresser may make a lot of money if they charge a lot.

#59. Barbing

I almost forgot this! Barbing is way more mobile than most of this business. You can take it with you to school and make money from it.

Just a clipper, cloth, a brush, powder and some set of combs, you are ready for work.

If you are looking at setting a standard salon for barbing, you should look at spending some cash. It is not much at all, very affordable.

#60. Welding shop

100,000 for a modest metal gate is charged by welders to fabricate and weld joints, and considerably more for contracts at hotels and colleges. 

Particularly in Nigeria, where significant urbanization is taking place around large cities, the welding sector is booming. 

This is another attractive business opportunity for Nigerians with a high level of education.

#61. Mining

Oil, coal, gold, and many more natural resources are found in Nigeria. This is a lucrative business idea in nigeria and a company to start. 

Your raw materials will be sold at an excellent price, we can promise you. To start a mining business, you will need to get a mining license and the appropriate gear.

#62. Bookshop/Stationeries

Nigerians may generate money by selling stationery and other writing products. 

Material such as Onward, Leo Smart, Lucky Ballpen, Big textbooks, arithmetic sets, pens, pencils, or graph books may bring you a lot of money, especially if your store is located near an academic region with a high concentration of educational establishments.

Bookshops in part of Akwa Ibom state sell a lot and you should consider taking part.

#63. Marketing via the internet(AKA digital marketing)

Digital marketing is the marketing of products and services in the digital world. One of Nigeria’s fastest-growing business ideas, it is in high demand. 

Digital marketing, on the other hand, leverages social media and other internet platforms to contact consumers. 

Businesses may develop a huge online print with the use of SEO, content, emails, and many other abilities.

If you have experience in digital marketing, starting a business will be a lot easier. As an alternative, you might take the time to learn and start small by working with SMEs in your immediate area. 

Businesses must outsource digital marketing because they lack the resources. Take an ad for example.

#64.Resume writing

Another great method to make millions in Nigeria without stress is to write resumes, CVs, and business ideas. How many Nigerians are unable to create a simple resume? This is a space for you, students, to enjoy

A resume, CV, or business plan specialist has the opportunity to work with hundreds of entrepreneurs and organizations to help them accomplish their goals once you’ve provided them with a well-structured resume, CV, or business plan. 

An additional benefit of this business concept is that it is easy to start and profitable.

#65. Content marketing 

It is a strategy that involves creating content like articles, videos, podcasts and others.

If you become an expert in content marketing, you’ll find yourself in great demand very soon. 

Over 70 per cent of Nigerian firms utilize content marketing as part of their digital marketing strategy. 

Creating and distributing material (writing, video, images) across social media to improve prospective consumer awareness of a product is involved in content marketing (CEM). 

For this business to be successful, you do not need a big amount of cash either. Technological know-how is the most essential factor.

#66. A radio station 

Launching a radio station is one of the finest financial decisions you can make in Nigeria. 

As small as heritage radio is, you can imagine their billing. They will charge not less than N1,000 for 15 sec.

FM stations in Nigeria might become popular if you devote yourself to them.

#67. Be a Search engine optimization expert

SEO is the process of helping a business’s website rank higher on search engine results pages (SERPs). 

Currently need an SEO expert to join us here at omegapayz as this service is now vastly needed and our workforce, pretty slow.

The need for this continues to rise as the digital world becomes increasingly important. Starting a business in search engine optimization may be done with little or no financial outlay. 

You may quickly gain this essential talent through online study and research or by hiring an SEO professional in Lagos.

By enhancing their visibility on the digital map, you link them with their potential consumers.

#68. Email marketing

Email marketing is a form of online marketing. It is on among the list of lucrative business ideas in Nigeria

One of the most efficient methods to contact clients online is through email marketing. Today, every Tom, Dick, and Harry has an email address, and you can promote items to them directly through their email addresses. 

If you have a solid sales speech, you can transform strangers into paying clients for businesses.

Good email strategies with proven conversion outcomes will keep businesses coming back and referring others.

As a result, most organizations nowadays outsource this function to focus on other essential tasks. Start-up costs are low for email marketing, making it ideal for small businesses.

#69. Dropshipping

You may make a lot of money by dropshipping products throughout the world. Dropshipping, which is similar to freight forwarding, is a great passive income source in Nigeria.

lucrative business ideas in Nigeria

Each time someone places an order, you just create an advertisement for a product you don’t own and purchase it. 

Dropshipping is still making millions of individuals rich throughout the world, despite several obstacles thus making it one the lucrative business ideas in Nigeria

#70. Trade cryptocurrency

It’s easy to make millions in Nigeria by trading and mining cryptocurrency. Even as a Nigerian student, buying and trading cryptocurrency is one of the fastest methods to generate money online.

If you’re considering investing in cryptos, be aware that many people have gone bankrupt while doing so.

As a result of investing in Bitcoins, Litecoin and other Cryptocurrencies many people have become billionaires. 

#71. Become an Instructor of physical fitness

here is a guide to becoming a personal trainer and how much you can make on a scale

For those who are ready to pay extra, you may also open a gym and work as a personal fitness teacher. 

To have the “ideal” body, many people would be willing to pay millions of dollars. You can become a personal trainer.

Or get a tiny area at a nearby stadium and outfit it with gym equipment for your trainees if you don’t have the money to hire a gym space.

#72. Bakery

You can start your own bakery for weddings, parties, and other special occasions to service these events.

It is one of the most vying business ideas in Nigreria and it doesn’t take a head to start.

Knowing how it is done is already enough to start your business.

here is how you can start a cake baking business

#73. Stock exchange

Making money in Nigeria through the purchase and sale of stocks on the Nigerian stock exchange is another method to be enthusiastic about making money in Nigeria. 

This company has already enabled thousands of rich Nigerians to increase their fortune through increased earnings.

This business may be run from home, which is a huge advantage. Sell stocks in China as well as in America and other stock exchanges.

#74. Become a  Data analyst

Since the 1950s, data analysis on health, diet, and politics has been in great demand. 

Secondary data collected by data analysts is valued by a wide range of individuals and organizations like the BBC, National Geographic, and the IMF.

This may be done by collecting data and selling it to individuals who need it. 

In addition to lawmakers and health care personnel seeking information they can’t acquire on their own, multinational corporations are also interested in this type of information.

#75. Become an Artist

Another fantastic approach to generate money online in Nigeria is by selling artwork. 

The inadequate marketing approach of many Nigerian musicians has kept them from becoming wealthy. 

You may make a lot of money in Nigeria if you can implement the appropriate sales technique.

#76. Musician and music educator

Parents, children, and outsiders can benefit from online music lessons. 

Drums, piano, flute, xylophone and violin are all musical instruments that you may teach your student to play and make money from.

You can also make money presenting live instruments on occasions and at parties.

#77. web hosting

You may also make money online in Nigeria using PayPal. Sell web hosting plans to webmasters and bloggers that require reliable servers to host their websites. 

You just set up a system and then sit back and get passive money. The APIs given by Namecheap, Godaddy, and Interserver allows you to start your own web hosting firm.

#78. Tokunbo Spare Parts Importation

Business in the United States, Germany or Denmark is particularly lucrative for those living there. It is one of the lucrative business ideas in Nigeria

Stop importing exotic vehicles and start shipping tokunbo spare parts down to Nigeria. In Nigeria, used (tokunbo) spare parts have a large market.

#79. Open a betting shop

One of the business ideas in Nigeria I so much cherish is opening a betting shop. It has become one of the most popular ways to make money on the side. Profit from this by starting a bookmaker business.

A goldmine of revenue, sports betting will continue to develop in Nigeria. There are a staggering number of individuals betting in Nigeria at this very moment. 

Google searches in Nigeria for betting sites are at an all-time high right now.

Agentship with one of Nigeria’s leading sports betting businesses like Sportsbet, Bet9ja, and Betting is required to start a sports betting company.

In addition to the store, a betting tile and a router are required and the starting capital for the sports betting business is from N200,000 to N1,000,000.

#80. Courier service

Nigeria’s large population and poor road infrastructure make it impossible for people to go from point A to point B without help.

This is a business that you should consider starting outside of Lagos, due to the amount of delivery business that has been going on in Lagos in recent years.

One of the trendiest business ideas in Nigeria is bike delivery or you can call it courier service.

This type of business may also be conducted in virtually every state in the country of Nigeria. Open delivery and courier services for clients and other customers in the states and other customers nationwide if you have an e-commerce business.

For your company concept to succeed, you’ll need to hire competent and trustworthy drivers. Especially at the beginning of your firm, your pricing will also be a factor.

Because your rates are lower and deliveries are always made on time, clients are more inclined to pick you over your competitors.

Two bicycles can be used to transport paperwork, food, and other goods to customers. It is indeed one of the most lucrative business ideas on the list

People will still pay even if you intentionally overcharge them since they have no other alternative. Every Nigerian entrepreneur should seriously consider investing in this business concept.

#81. Open a mechanic workshop.

Your expertise in mechanics may also bring a lot of money to Nigeria, no matter whatever machine you specialize in. 

You may work from home or acquire a small store where you can wait for clients to arrive and fit their broken machines.

#82. Start a printing press

You may also generate money in Nigeria by owning a printing press where you can mass create items such as flyers, banners, news bulletins and magazines. 

If you have the investment cash, this is one of the lucrative business ideas in Nigeria to get rich fast.

#83. Own a Cybercafe

A cyber café is one of Nigeria’s top companies. Many services are available at cyber cafes, including printing and online registration.

Photocopying, graphic design and scanning are all available. Set up a cybercafé and provide services to those in need.

#84. Start a pottery business

Another lucrative business idea in Nigeria for competent women in Lagos is to make ceramic pots, china goods, mugs, decorations, and other clay products from scratch. 

In metropolitan areas, most of these items sell faster and at a higher price, which translates to higher profit margins.

Lekki is a great place to establish a pottery business and make money every day. This business is not difficult. People will also pay you to teach them if they are interested in acquiring the skill.

#85. Grow and Sell flowers

This is one of the lucrative business ideas in Nigeria that requires your expertise in growing and nurturing flowers.

You rarely see people who do this. It is very rewarding and doesn’t take your time nor resources. 

#86.  Sell electrical items

Selling electrical items such as bulbs, lamp holders, wires, etc, has been proven to be one of the lucrative business ideas in town.

The Igbos are very interested in this business because it fetches millions in ROI. you can import these parts and sell them for X3 at the price you bought.

You need huge capital if you are going big. Yes!

#87. Aquaculture

Think about growing fish as a side job or revenue source. Fish farming is one of the most lucrative businesses ideas in Nigeria. Fish farming may be started on a plot of land.

In addition, I highly encourage Nigerians to check out this business concept. In a tiny pond, you may raise catfish, tilapia, snails, crayfish, and cod, and sell them for cash.

#88. Gift box

As an entrepreneur, you can establish a bridal gift box business or a business that targets weddings or couples. 

You must determine the customer’s buying potential, your target market’s interest in your sort of gift box. Also, you must assess if the proposal is financially feasible.

Using a niche to separate your business from the competition is quite beneficial for your business.

To fully grasp the nuances of this business, you must create a business plan.

Your business name must be registered, as well as a sales channel. Your gift boxes must be designed, and you’ll need at least N60,000.

#89.Start an E-commerce store

Instead of writing to get money, you might want to try selling something online. You may also start a business in Nigeria by owning or trading on an eCommerce website.

Now, this is a hot topic in Nigeria. The same goes for selling via social media, as well as well-established eCommerce sites like Amazon Jumia Konga, Jiji, and even Alibaba.

You can set up your store on Shopify or you can consider CMS like woocommerce

#90. Selling Online Courses

Nigerians living overseas can generate money online by selling online courses on Whatsapp, Facebook, forums, Udemy, or their own website.

As an ebook or a video, some individuals will be interested in your courses and you’ll gain money from their purchases.

#91. Trading forex

Before you can excel in this field, you will need to undertake extensive training. But if you know what you are doing, you can make a lot of money from trading on the Forex market.

We plan to start an in-depth guide on how to start Forex trading in Nigeria very soon. But if you are experienced in FX trading and not making money, then you have serious problems.

#92. Video Production/youtubing 

It’s also possible to earn a lot of money from Youtube with many videos and followers. Just submit a video or a decent presentation about something you know to your Youtube account. It’s that simple.

Using Google Adsense, affiliate links, or even paid advertising from other companies and organizations, you may monetize your channel. 

There are several ways for Nigerians to generate money online, and this is one of the finest.

As an alternative to Youtube, you may also earn money by creating videos and publishing them on other video streaming platforms. 

Making and selling high-quality films to organizations and people is a certain way to generate rapid money.

As an alternative, you may create an online course in which individuals pay to view your films or sell them to other people who require them for the transmission of sensitive data. It’s really that simple.

#93. POS business

You can start a POS business in an area where ATMs and banks aren’t close. This allows you to make money without spending money.

It is a fast-growing business that you must consider your charges or else, your rival might outrank you if his charges are pretty low

#94. Palm oil business

No one will tell you this but believe it when I say palm oil is very lucrative in Nigeria. What I do to make money in this business is that I buy oil during the dry season and store it. 

When the rainy season comes, I sell them at a double price to other states in the west and north.

We will explain how to go about this business in detail when we talk about the palm oil business and how to start one

People who need to start a business must read

Your company planning begins with an idea and that is one of the things we know how to provide best on our site – ideas and plenty of them. 

Are you thinking about starting a business in Nigeria but don’t know where to start from or which business to spend your money into to earn profit? Our list will be covered one after the other in detail over time.

We are going to make sure you know how to start each of these businesses steps by step so ensure to signup for our newsletter so you get anyone we are done writing for

If you believe you’re excellent at operating a business, The list above has given some of the most lucrative business ideas in Nigeria where you may invest your money.

You may be confident that your hard-earned money will be well spent if you choose to invest in any of the firms on our list of Nigerian business ideas. 

They are up-to-date and relevant in 2022 and beyond. Before moving on, let’s examine some of the most compelling arguments for starting a business in Nigeria today.

After looking through a list of business ideas in Nigeria you may start and choose the one you believe will be profitable and you’ll like doing. You’ll need to perform research and prepare a business strategy.

When it comes to the specifics of your business concept, you’ll benefit from having a business plan. Your business plan will also be useful when seeking outside investment from investors or government agencies.

There are lots of successful business ideas in Nigeria that we have come up with for you to pick from. Trust me these are not all.

While you may run some of these companies out of your home, others will need you to rent a storefront or office space.

How you want to manage your firm will determine what you do.

What are the fastest growing small businesses in Nigeria?

Here is a list of some of the top fastest-growing small businesses in Nigeria and my 10 best picks for you

Why You Must Start A Business In Nigeria Now

The reasons why Nigerians are abandoning their own nation that is flowing with milk and honey to scavenge in other countries that do not have half of the chances we have here is just impossible to understand. 

Why would Nigerians want to go far and wide to work as slaves, leaving their riches behind for South Africans, Lebanese, Indians, Chinese, and even Egyptians to plunder?

This is a call for Nigerians to rise and take the bull by the horn by setting up their businesses and firms in the country.

Conclusion

In Nigeria, the success of a business is mostly determined by the person (what goes well with you).

Take into account aspects such as the business’s location and the market’s demand.

As a result, this needs some market study. Determining what you are passionate about, what is in high demand, and what has a high-profit margin are also crucial.

We hope that these lists of company ideas to invest in Nigeria will provide you with the motivation you need to get started right now.

Editorial Team

Omega Payz is a Professional Business & Finance Platform focused on college students and new college graduates that are looking for ideas to start up a business and make some money to either pursue a college education or prepare for a master’s and further studies.Our editors are dedicated to providing you with the best of Business Ideas that resonate with your daily routine, with a focus on dependability, local businesses, online business ideas, careers&loans, Personal finance and people

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