12 Lucrative Small Scale Business Ideas In Nigeria

Maybe you don’t fancy the idea of working a 9-5 job, or you haven’t been so lucky in the Nigerian labour market, starting a business to earn money and becoming your own boss is your next best shot. And the good news is there are lots of small scale business ideas in Nigeria that you can start with as low as N5,000 (Five Thousand Naira) only and I’ll discuss my best 12 in this article.5 min

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Maybe you don’t fancy the idea of working a 9-5 job, or you haven’t been so lucky in the Nigerian labour market, starting a business to earn money and becoming your own boss is your next best shot. And the good news is there are lots of small scale business ideas in Nigeria that you can start with as low as N5,000 (Five Thousand Naira) only and I’ll discuss my best 12 in this article.

Among the small business ideas outlined in this article, you can start some from the comfort of your home, while others will have you jumping on the road almost every day. So if you’re someone who likes to get out every now and then, you should pick your cues.

However, I know there are a lot of motivational speakers out there who claim to have started their business with N200(Two hundred Naira) and it grew to a -multi-million company, even if it were true, you should know that there’s no shortcut to making it anywhere and not just in Nigeria. So remember to trust the process and treat your customers well, giving them quality goods and services and they’ll keep coming back for more or at least spread the word about your business.

Small Scale Business Ideas that Thrive in Nigeria

This isn’t an exhaustive list but you should find a couple of ideas that you’ll be interested in. Whichever you choose, always remember, whatever is worth doing, is worth doing well.

  1. Ice block production business
    It’s interesting how this opportunity may have been staring at you in the face especially if you have a good freezer or refrigerator at home but you haven’t realised it yet. It’s a lucrative business opportunity you can start but make sure to find a neighbourhood that really needs ice block. An example will be a neighbourhood with a poor electricity supply, so you can supply to provision/grocery stores around that neighbourhood. You can also consider camp and stadium grounds. Lastly, the sale of ice block can be lucrative based on the weather. As expected, demand may be higher during the heat season, so make sure to take advantage then.
  2. Cloth Designing and Tailoring 

    With the way Nigerian tailors are popular for never meeting deadlines, I think you should enter this business to make a difference.  If you make excellent clothes, the word of mouth and sharing pictures on social media will be good to market your business and make it flourish. But to do this, of course, you need to be trained as a tailor. Acquire fashion design and/or even styling skills. As long as man lives in this Civilisation age, there will always be a need for clothing everyday e.g Corporate, casual, traditional, e.t.c so this is a valuable life skill. 
  3. Okrika Bale Business (a.k.a Thrift)

    This is simply buying “Bend-down-select” clothes to resell them after you’ve packaged them in a better way. Ensure you pick out good clothes from your supplier, this way you can sell them for more money. Selling Okrika is a small business that thrives in Nigeria because of the poor economy. Not a lot of people visit the boutique for all their clothes, 70% of their wardrobe may be Okrika and 30% are new clothes. So, “Okrika bale” business is a good business to start anywhere in Nigeria but most especially in sub-urban and rural localities. In fact, some entrepreneurs are now getting so good at this packaging even in urban areas. They call their Okrika shop a “Thrift Store”, and advertise on social media by taking good photos of the cloth items.Lagos, Aba, Kano, and Onitsha have good markets 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 N50000 to N200000.
  4. Uberpreneur – Driving for Uber
    If you’ve been thinking of buying a car, but you’re worried if you can maintain it, or you don’t think it’ll be wise, well you better start thinking of that car as an investment especially if you’re in Lagos, Abuja or Port Harcourt. Uber driving is very lucrative. The average Uber driver makes between 80,000 – 120,000 every week. This business gives you the luxury of calling your own shots and owning your own schedule.
  5. Freelance Content Development/Writer

    I for one do this a lot. It won’t only help you earn money, but you’ll get to work with people across different nations while improving yourself in knowledge and discipline. As a freelance writer, you may write on topics you’ve never heard of or ever had any experience in. Its more of an adventure. Although, it is time-consuming, but the better you get, the higher your price goes up in the market. You can write on your phone and you can also write with a laptop if you have one. Make sure you spread word across to your network that you’re a writer and list yourself on websites like Upwork, Fiverr, linkedin, etc, It may be a side hustle or a full-time job. The ball is in your court. 
  6. Cake and Cupcake Bakery

    The demand for delicious and beautiful cakes will always be in high in the market. People are always celebrating or marking one thing or the other. So if you love to bake, just turn you passion into a money-making venture. This way you love what you do for a living and this is the best motivation ever. You can get started on a with a budget as low as N6,000(Six thousand naira) by baking and decorating right in your kitchen and then spread the word across to family, friends and other people in your network. Don’t forget to also leverage social media like Facebook and Instagram.
  7. Small Chops Packaging
    Starting a small chops packaging business is a lucrative business idea in Nigeria. The desire for this treat has increased over the years. Almost every event, now adds this to their menu. I know someone who started from this and grew into offering complete food catering service. Make sure your small chops taste great and they are well packaged.
  8. Dry Cleaning Business
    In this fast paced world, a lot of people need help with their laundry and cleaning of other home items. If you can put in the time, this a hot business idea in Nigeria at the moment. 
  9. Pizza Delivery business
    There’s a limited supply of delicious pizza in Nigeria. Consider Starting a pizza delivery business if you know you can make delicious pizza. It is a profitable business venture, and can yield a high-profit margin for any entrepreneur who is serious about the business.
  10. Cosmetics/Skincare Business

    A lot of Nigerians want to enhance their skin colour, or “blend”, “tone”, or “glow up” their skin. If you know you can provide real solutions to this desires, then your skin care business will flourish. There a lots of women in this business of organic skincare products but 80% of these products in the market don’t give the desired result, so if you’re coming in with something different, you’ll definitely stand out with good marketing and it is a very lucrative business. However, to come up with something different, you need to do a lot of study and research and this will eventually help you decide the contents and process of making your products, which helps you arrive at your capital.
  11. Custom Clothing
    Birthday shoots, wedding shoots, bridal showers, parties, conferences and all kinds of events are now stepping out with different kinds of customised clothes and other accessories like tote bags. You may not necessarily own the machine to print but you can ideate and design what customers want, buy the shirts and take it to the printers. This way you get to save cost and make more profit.
  12. Raw Food Stuff Business

    There are two sides to this business. First, you can buy and sell food items immediately you buy them and make profit or you can invest in them by buying, storing and selling after the price goes up. If you choose the latter, make sure you have good storage system that can properly preserve the foods, This is one profitable business that can bring in good returns on investment in Nigeria. 

ALSO READ: 9 free ways of effective small business marketing

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