A lot of people have been wanting to start a business, but getting to know the startup cost leaves them stuck since they don’t have enough capital.
Although there are lots of businesses in Nigeria, finding the cheapest ones to start could be difficult. Sometimes you may come up with a small business idea, but end up finding out that it is hard to start, whereas the easy ones require a huge capital.
Of course, that is true! However, there are still lots of businesses you can start with little money. And here in this post, you’ll discover them all.
Without further ado, let’s get started!
List of Profitable Businesses to Start With Low Capital in Nigeria
The most lucrative businesses that you can start with little capital in Nigeria in 2023 include:
1. POS Business
The first and most profitable business in Nigeria with low capital to start is the POS business. It is really hard to find a street without a POS agent now in Nigeria.
POS business involves completing some basic banking transactions for people such as cash deposits, transfers, withdrawals, and so on, for a fee. The business is very easy to start, and it can be started by anyone regardless of your location.
You can become a POS agent with less than 50,000 Naira in Nigeria, as many banks issue POS on a cautionary fee which isn’t too expensive. A lot of money can be made from this business as it is a source of daily income.
2. Popcorn Business
Popcorn production and sales are another profitable business you can start with little money in Nigeria. This business involves making popcorn and selling them whether in bulk to retailers or at events, schools, etc.
Although there’s a popcorn machine, you can get started right from your kitchen by making popcorn the local way using a pot. This shouldn’t cost more than 20,000 Naira to start regardless of your location.
Popcorn business moves fast in many parts of the country and makes a lot of money on a daily basis. You can generate up to N10,000 daily in revenue selling popcorn in Nigeria.
3. Sales of Recharge Card
Selling recharge cards is one of the oldest, yet most profitable businesses in Nigeria with low capital required to start. This business involves selling all kinds of recharge cards in pieces to final consumers.
You can start this business with as little as 5,000 Naira anywhere in Nigeria, and make a lot of money every day. The increase in the use of phones and the internet has continuously increased the demand for this business, thereby making it one of the fastest-moving businesses to start with little capital in Nigeria.
4. Fruit Business
If you’re looking for the best business to start with little money in Nigeria and make money every day without much stress, selling fruits is a perfect one to consider.
As the name implies, the business involves selling all kinds of fruits including apples, oranges, watermelon, cucumber, and so on to make money.
From selling raw fruits to processing and packaging them as fruit salad in a small container you can start this business in many ways.
To start, you just need to have access to the farmers’ market, get those raw fruits, process them into fruit salad, and start selling. All this shouldn’t cost more than 50,000 Naira to start.
Blogging is the first and most profitable business in Nigeria with low capital to start on this list. This business can make you millions of naira within the span of 18 months if done the right way, and you can get started with less than 5,000 Naira.
Blogging involves sharing information online through your website. This information can be news, music, tutorials, etc.
To start you just need a smartphone, buy a domain, launch your blog, start posting, and start making money through affiliate marketing, or monetization with ad networks.
6. Freelance Writing
If you’re a student looking for the best business to start with little money in Nigeria, freelance writing is a good one to try, as you can work anytime you like and make money online.
This business involves writing content such as blog posts, resumes, copywriting, and so on online and getting paid.
To start you just need a smartphone and a good internet connection. Then signup for freelance websites available in Nigeria like Fiverr, Upwork, PeoplePerHour, etc., create your gig, and start getting orders.
7. Mini Importation
Another profitable business you can start in Nigeria with small money is mini importation. This business has been trending for a long time, making people crazy amounts of money, starting with as little as 10,000 Naira.
Mini importation involves buying products for extremely cheap prices from China, shipping them to Nigeria, and selling them for a good profit.
This business is very profitable as you can buy a trouser for N1000 from China and sell it for N3000 Naira in Nigeria.
8. Affiliate Marketing
Affiliate marketing is a good business to start with little to no money in Nigeria. This business is very profitable and easy to start. It is a form of internet marketing that involves recommending products to people and getting paid a commission when they buy the products.
There are lots of affiliate programs in Nigeria, you can start with little to no experience and make money with affiliate marketing in Nigeria. Also, the business can be started risk-free, as you may not even need any money to start in some cases.
9. Car Wash Business
Car wash business is not just a source of daily income in Nigeria, but a business that can be started on a small budget. This business is very easy to start and can be started anywhere in Nigeria.
Unlike before, the car wash business is becoming more and more popular and profitable in Nigeria as car washes charge up to N3000 per car in some parts of the country.
You can start this business either as a mobile car washer or have a shop for your business. Regardless, you can get started with about any amount.
10. Become a Real Estate Agent
If you’re looking for an easy business to start with low capital in Nigeria and make a lot of money, becoming a real estate agent is a good one to try. In some parts of the country, real estate agents make up to 3 million Naira per successful deal.
This business involves being a middleman between property owners, property buyers, and/or tenants and getting paid a percentage of a successful deal. These properties can be homes, apartments, lands, etc.
You can become a real estate agent anywhere in Nigeria, as the business requires almost nothing to get started. All you need to do is to connect sellers and buyers of properties, and make money.
11. Small Chops Business
Starting a small chops business where you bake/fry stuff like puff puff, yam, potato, plantain, and so on, is another business in Nigeria with little capital that makes money every day.
Regardless of your gender or location, you can start this business and make a lot of money.
12. Bead Jewelry Making
With as little as N1500, you can start a bead jewelry business in Nigeria where you make jewelry such as bead necklaces, bangles, earrings, and so on. This business is easy to start and it is the best business to start with little money for female students so far in this post.
To start, you just need to acquire a bead-making skill, get the materials needed, and start making bead jewelry.
As a student, you can sell your beads to your schoolmates, lodge mates, and or neighbours. You can also sell bead jewelry online via social media or e-commerce stores like Jumia and Jiji.
13. Liquid Soap Production
Liquid soap production is very easy to start as you can learn how to make liquid soap online via YouTube and blog posts, then get all the materials needed to get started.
This business moves fast in many parts of the country as people now prefer liquid soap for washing plates over detergent, due to its cost. You can start this business with as little as 5000 Naira, and start making sales the very day you started.
Liquid soap production is also done as a side hustle, so whether you’re a worker, or student you can start this business and make a lot of money.
14. Juice Production
Making juice is another profitable business with little capital in Nigeria. This business moves fast, and it’s still slightly untapped as it requires juice-making skills to get started.
The juice production business involves making juice such as zobo, orange juice, etc. Making kunu also falls in this niche, as many Nigerians consume these the most.
You can start this business in any part of the country. You can get started from the comfort of your house, as all you need is a minimum of 5000 Naira capital to get all the things needed.
15. Soft Drinks Business
A lot of Nigerians consume soft drinks on a daily basis, making the business a fast-moving one. This business involves selling all kinds of soft drinks (minerals), both bottled and plastic.
You can get started on a small scale with 3,000 Naira or so, and make a lot of money.
16. Photography Business
A photography business is another profitable business in Nigeria with low capital. This business requires some photography skill acquisition to get started, and you can operate the business anywhere in Nigeria.
From having your own photography studio to attending events and taking people’s pictures, there are lots of ways to start this business. You can get started regardless of your gender, as a lot of ladies too now engage in the business.
17. Mobile Phone Repairs
One of the easiest skills to acquire in Nigeria is phone repair skill. Once the skill is acquired, you can turn it into a money-making machine starting with just a small capital to buy all the needed equipment.
18. Perfume Business
Sales of perfume also require little money to start In Nigeria. As the name implies, the business deals with selling all kinds of fragrances and making money.
The profit margin of this business is massive and it can be started with somewhere around 20,000 Naira. Whether you’re a male or female you can start a perfume business anywhere in Nigeria.
All you need to get started is to locate perfume wholesalers, buy from them and sell at retail prices to final consumers. Marketing a perfume is very easy as you can sell online or promote your business through word of mouth.
If you’re looking for the most profitable business in Nigeria with Low capital for cooks, rendering a cook-on-demand service is a great one to look into.
This business is fairly new in Nigeria, it involves getting orders to cook for an individual at a time and getting the food delivered to them yourself or using a dispatch rider.
This business is very profitable and doesn’t require huge capital to start. Although it is not yet popular in many parts of the country, if you live in Lagos or Abuja, there’s market for the business.
20. Become an Influencer
You can also make a lot of money by becoming a social media Influencer in Nigeria. This business requires little to no capital to start, although you need to have tons of followers on social media to make money as an Influencer.
Social media Influencers make money from promotions, brand partnerships, and sales of their own products. Therefore you can make millions of Naira as an Influencer in Nigeria.
21. Graphics Design
Another online business to start with low capital in Nigeria is graphics design. This business involves listing a graphic design gig on freelance websites like Fiverr, Upwork, etc.
You need no money to start this business, as all you need is a smartphone or PC, acquire a graphics design skill on YouTube and start making money by selling your service online. This business can also be started as a side hustle for students, as you can work anytime you like.
22. Web Design
Just like graphics design you can make a lot of money if you know how to create a website in Nigeria.
There are lots of small businesses looking for web designers in Nigeria, you can learn the skill online and offer it both online and offline in exchange for money.
23. Start a YouTube Channel
Starting a YouTube channel involves posting videos on YouTube and making money from them. Till now, I guess some people don’t know that their favorite Youtubers make money from their videos on YouTube.
Just like blogging, you can start a YouTube channel and monetize with Adsense, where you get paid whenever someone watches your video.
You can start a YouTube channel with zero capital, as all you need is to know how to make videos, then you can start making money once you meet the YouTube partnership program requirements. YouTube channels can also be monetized through brand partnerships and affiliate marketing.
24. Laundry Business
If you’re seeking what business can I start in Nigeria with little money from home, then rendering a laundry service would be a good answer. This business is not just profitable but can make you money on a daily basis.
You can start a dry cleaning business in Nigeria with about any amount since not much equipment is needed to operate the business. This business can be started by anybody in any part of the country whether locally or using advanced equipment.
25. Food Delivery
Food delivery business comes with the rise of cook-on-demand restaurants in Nigeria. This business involves delivering food to final consumers from restaurants.
You can start the business with a bike and make a lot of money every day, although the food delivery business works well in cities. Therefore it can’t be operated in all parts of the country.
26. Recycling Business
One of the most underrated businesses to start with low capital in Nigeria is the recycling business. A lot of money can be made from this business, but since it involves going from one scrap yard to another people usually turn their attention away from it.
You can start this business with about any amount, as in some cases, you don’t need to do the hard and irritating part of the business yourself. A lot of people make millions of naira from this business, so it is a good one to consider.
27. Small Scale Poultry Farming
You can also start small-scale poultry farming if you have a space in your house (maybe in your backyard or a spare room).
Small-scale poultry farming can be started as a side hustle, as you can start with just a few chickens which don’t require much stress to breed.
Since all you need to get started is their shelter, and provision of feed and water, you can start this business anywhere in Nigeria with less than 50,000 Naira.
The profit from this business is massive, a 2-month chicken can go for anything from N4,000 to N6,000. On a small scale, you can start with 20 chicks, making from N80,000 to N120,000 if all survive.
28. Provision Store Business
With a minimum of 50,000 Naira, you can open a provision store where you sell all kinds of foodstuff, snacks, soft drinks, etc. This business is very profitable, moves fast, and can be started anywhere in Nigeria.
29. Cassava Farming
If you like Agriculture and looking for the best business to start with little money in Nigeria, venturing into cassava farming could make you a lot of money in the long run.
Nigeria is one of the top cassava-producing countries in the world, so there’s already an established market for this business.
You can start on a small scale with about 100,000 Naira and make up to 300% ROI, after harvest.
30. Maize Farming
Maize farming is another agribusiness that requires little capital to start in Nigeria. Unlike cassava farming which takes about a year before harvest, you can make your money back plus profits within three months of farming maize in Nigeria.
Maize farming can be started in any part of the country, although seasons may differ. With a little knowledge about farming and a minimum of 50,000 Naira, you can start a successful maize farming business in Nigeria.
31. Phone Charging Business
With bad, unstable, or even unavailability of power supply in most parts of the country, a lot of people find where to charge gadgets like phones, mp3 players, power banks, and so on, thereby making commercial charging business one to look into while looking for the most profitable business in Nigeria with low capital to start.
Phone charging business is very easy to start as you just need a generator, a couple of extension boxes and charges, and also a shop to get it off the ground. All these can be arranged with less than 150K, and in return, you can make 5,000 Naira daily on average from this business.
32. Sales of Cosmetics
If you’re looking for the best business to start with little money for women in Nigeria, the cosmetics business is a good one to try.
This business involves selling all kinds of cosmetics and beauty products such as foundation, powder, mascara, lip gloss, etc.
With makeup being one of the things that a lot of Nigerian ladies can’t do without, getting sales is easy in the cosmetics business. You can start your cosmetics business from home selling online or rent a shop for the business.
The profit margin of the cosmetics business could range from 30% to 50%, and it doesn’t require millions of naira to start.
33. Engine Oil Business
The engine oil business is a non-capital-intensive business that generates daily income in Nigeria. This business moves fast in many parts of the country, as the product is used for all kinds of engines.
You can start an engine oil business both on a small scale and a large scale. That is regardless of the amount you have to start a business, the engine oil business can be started anywhere in the country.
34. Sell E-Books Online
Another online business that could require low startup capital in Nigeria is the ebook business. This business involves writing informational and high-quality content, then selling it online. This can be tutorials, stories, etc.
Amazon KDP is a popular platform for this business in Nigeria. In fact, a lot of people know this business and KDP business in Nigeria.
This business is great for everybody, as it is also a good source of passive income. You can publish a book and keep making money from it everyday for years (even lifetime).
35. Video Editing
Video editing is another skill you can use to make money online starting with little to no money. You just need to acquire the skill, list your gig on Fiverr and/or Upwork and start getting orders.
While talking about businesses to start with low capital in Nigeria, we’re talking of businesses that cost 100K or less to start.
With this post about the best businesses to start with little money, whether you have a couple of thousand naira, or nothing, I believe you’ll be able to find the best business for you regardless of your location.
So, don’t waste any more time! Get started now, and start making money.