Have you managed to raise 200K but don’t know the type of business to start with?
Starting a small business in Nigeria is an easy step-by-step process in which raising capital comes first, followed by the business you want to start.
However, after raising the money, a lot of people ask; what business can I start with 200K, and a lot of ideas pop up in their minds which may end up not being the best.
That is why I decided to come up with this post to show you some of the most profitable businesses to start with 200K in Nigeria and make millions of naira in profit.
From simple to complex, this article houses the best business to start as a student, graduate and even if you’re not educated. More so, you’ll want to read till the end for I listed some online businesses you can start with 200K right now in Nigeria.
Without further ado, let’s get started!
Table of Contents
Profitable Businesses to Start with 200K in Nigeria: OFFLINE
The best and most profitable 200k business ideas in Nigeria in 2023 include:
1. Cooking Gas Business
Cooking Gas is what almost every household use in cooking now, as it is faster and easier than charcoal, stove, and firewood cooking style.
With this, the cooking gas business has continued to keep booming. The cool thing is that it is very profitable.
With 200,000 Naira, you can start this business anywhere in Nigeria. All you just need is a gas tank/cylinder bottle, scale, and other necessary materials.
Once all that is set, just look for a supplier, get your gas tank filled, then utilize a little space in the front of where you live, or rent a small shop and start selling gas.
2. POS/E-Payment Business
POS and rendering E-payment services is one of the less stressful businesses you can start with 200K anywhere in Nigeria.
This business is also profitable, as agents in good business locations could be making up to N10,000 profit daily just making deposits and withdrawals for people.
To start this business, you just need to apply for and/or buy a POS machine which you could get for less than N100,000. Once you have the device, look for a good location, and then start your business.
3. Real Estate Business
Although real estate is well known as the millionaires business, you can also tap into the real estate market in Nigeria with just N200,000.
For those who don’t know, real estate is a type of business where you buy or build homes and sell or rent them out to people.
With 200K, you cannot build a complete house, instead, you can use that money to get an apartment and then rent it out to people for higher prices.
For example, you can get an apartment worth 150K in Ajah, Lagos, then lease it to another person for 200K, keeping a profit of 50K.
4. Recharge Card Printing Business
With 200K capital, another lucrative business you can start is printing recharge cards and selling them at wholesale and retail prices.
To do this, you’ll need to find a big organization printing recharge cards, and apply to be a supplier or distributor.
Once your application is approved and your recharge cards are being printed out in variety, you can start selling them for profit.
5. Mobile Accessories Business
With a reasonable capital like 200K, you can start selling mobile accessories such as phone cases, chargers, earpiece, headphones, etc.
All that is needed to start this business is a kiosk or small shop, then look for accessories wholesalers, negotiate and buy those items in variety and sell in retail for a good profit.
For this business to thrive, you can start it in combination with recharge card retailing, or a gaming centre business.
6. Open A Boutique
Boutiques of course make huge profits from sales of shirts, trousers, and shoes, which makes it one of the most lucrative businesses to start with 200K in Nigeria.
You need a small shop to start this business. Once your shop is ready, due to your budget, it is not necessary you start with high-class products, as you can start with first-grade Okrika.
I know of someone who is doing this business, all he does is buy first-grade Okrika, then package them to look new by spraying them with nice scents to smell new.
7. Open A Restaurant
Restaurant business is another booming business anyone can start anywhere in Nigeria.
To start this business, you will need to look for a suitable location (busy area) for the business, then open your shop and start making different types of food for people.
This business is perfect for both males and females. However, you will have to be a good cook, or hire cooks to help prepare the foods while you do the marketing.
Once your restaurant is in a good area and you have a signpost telling people about your business, you can start making money even from the first day.
8. Open A Cosmetics Shop
Opening a cosmetics shop is another profitable business you can start in Nigeria with 200K.
This business is the one where you sell items such as skincare products like creams, bar soap, tubes, body oil, etc. Sales of perfume oil are also a part of this business.
To start, all you need is a shop, then look for wholesalers who you can get these products and resell them at retail prices for a good profit.
9. Food Stuff Retailing
Selling foodstuff such as rice, semo, beans, garri, noodles, and so on at retail prices is another profitable business you can start with N200,000 in Nigeria where you’re a man or woman.
To start this business, first, you need a shop to keep your goods. Once that is ready, just locate foodstuff wholesalers, negotiate and purchase a variety of goods at wholesale prices to resell for profit in pieces and in retail prices.
This business is best for those who live in students’ areas, or those that live in busy areas.
10. Production and Sales of Ice Block
If you’re asking what kind of business can I start with 200K in Nigeria, and you live in an area where there’s good electricity. Why not start producing ice blocks?
This business is very lucrative and requires 200,000 Naira or less to start. All you need is a good freezer, electricity, and water.
To make people quickly know your business, you’ll need to print banners and flyers to create awareness.
11. Production and Sales of Oven Dried Fish
If you live in riverside areas like Lokoja, a very profitable business to start with 200,000 Naira is the production and sales of oven-dried fish.
A family friend of mine who lives in Lokoja started this business a while ago and is now profitable as he consistently makes sales of over 200K monthly.
To start this business, all you need is an oven, fresh fish, and packaging materials, then you can start marketing your products and making sales.
12. Open Football Viewing Center
N200,000 is good capital to open a football viewing centre where people will pay you to watch matches.
In most places now in Nigeria, football matches are watched at a rate of N100 per match in the viewing station. Therefore, on weekends alone those business owners could be making up to N20,000 not to talk of mid-week matches.
To start this business, you need a big shop (hall) filled with benches, a generator, a widescreen TV, and a cable installed in your shop.
Once all that is ready, you can attract customers by writing it out in a nearby junction when there are matches.
13. Open A Gaming Shop
Gaming shop where people play games like Soccer, GTA, Car race, and so on, is another easy business idea you can start with 200K in Nigeria where you’re a student, graduate, or even educated.
All you need to start this business is a shop, a generator, a TV, and a game player such as PlayStation (PS) or Xbox. All this should cost less than 200K.
14. Become an Uber Driver
Are you a good driver searching for an answer to the question; what business can I start with 200K in Nigeria?
Why don’t you become an uberpreneur? I mean taking people from one place to another and getting paid well more than taxi drivers.
This business can be started easily by those that have a car already. However, if you don’t have a car, you can get fairly used cars on instalment, pay a deposit of 200K, and complete the rest as you make money from your uber business.
Uber business if more profitable for those living in places like Lagos, Abuja, Port-Harcourt, and other commercial cities. Depending on your work rate, you could be making over N200,000 monthly as a driver in Nigeria.
15. Resell Fairly Used Items
Used items that are not too old can be bought at cheap prices and resold for good profits in Nigeria.
This business is very lucrative as you can buy a fairly use motorcycle for N80,000 and resell it for N120,000 keeping a profit of N40,000.
To start this business, all you need to do is to network with mechanics of items like cars, motorcycles, freezers, generators, TV, and so on, then when they have someone who wants to sell used items at ease, they could call you to buy it for the cheapest price.
You can list those items online on platforms like Jiji and Konga to quickly resell them, or market them locally to find people to resell them to.
16. Cement Business
Selling cement is another lucrative business you can start with 200K in Nigeria and make a living from.
The idea is to look for a cement distributor, then get your shop filled with bags of cement, and sell them at retail prices.
With the price of cement at the time of writing this article, you could be making a profit of N500 and above per bag sold.
17. Mobile Charging Business
Opening a commercial charging centre is another easy business capital of 200,000 Naira can start anywhere in Nigeria.
The poor electricity in the country has made the commercial charging business a very profitable business that even people in cities make money from.
To start this business, you’ll need a small shop or kiosk, a generator, different types of chargers, and charging boards filled with sockets, then you’re good to go.
Like I said earlier, if you have more money, you can start this business alongside a gaming or football viewing centre.
18. Laundry/Dry Cleaning Business
Looking for a business to start at home with 200K in Nigeria? Then try out the laundry business.
This business is very simple as all you need to do to make money is to help people wash and iron their clothes, and get paid. I know of some people who charge N1000 to N2000 per cloth they watch and iron. So, you can see how profitable this business is.
To start, you’ll need a washing machine, pressing iron, good electricity (maybe a generator), and all other laundry materials. Then, make a small sign board and also print some flyers to attract customers.
19. Livestock Production
Livestock production has been for long one of the most profitable businesses in Nigeria that anyone can venture into.
If you would like to start a livestock farming business with 200K or less, there are tons of them you can start right now. They include poultry farming, fish farming, pig farming, snail farming, and lots more.
For any you want to start with, you’ll need to provide them with feed, and shelter, and also make sure you take good care of them if you want to be profitable in this business.
Since there’s always a high demand for livestock, you can be sure to get quick sales once your livestock is ready for sale.
20. Food Crop Production
Another farming business to start with 200,000 Naira in Nigeria if you love agriculture is food crop production.
Food crops like corn, cassava, groundnut, yam, and rice are some of the fastest selling and most profitable crops farmers grow in Nigeria.
With 200K as a start-up capital, you can cultivate up to four acres of cassava farm, or 3 acres of groundnut or corn farm, and make huge profits.
21. Pastries/Baking Business
If you’re in school and searching for business ideas you can start with 200K as a student and get massive profit, baking cakes, and production of small chops such as chin chin, plantain chips, doughnuts, etc, is one of the answers for you.
Since students usually celebrate birthdays with cakes in school, you can just learn how to bake cakes, and then start making money from it.
After learning and knowing how to bake cakes, just buy all the necessary materials to start the business. Tell friends, coursemates, campus/logdemates, and schoolmates about your business to create awareness.
You can also start with plantain chips, take them with you to school to sell, and let people know you can bake cakes too.
22. Bead Jewelries Making & Sales
Another lucrative business to start with 200K or less for students in Nigeria is bead jewelry making.
If you’re a fast learner, you can enrol in a bead-making training or watch some online tutorials and start making bead jewelry such as necklaces, earrings, and hand bands for sale.
This product sell well among students, and the realistic start-up capital for this business is less than N200,000.
23. Sales of Jewelry
Selling fancy jewelry is also a good 200K business idea for students who want to start a business in school.
This business does not necessarily require you to have a shop, as all you need to do is find jewelry wholesalers to buy from and sell at retail prices for a good profit.
You can start with necklaces, wristwatches, and earrings. Those are the jewelry that sell well.
24. Sales of Native Clothing Materials
As a student, you can start selling native clothing materials like Ankara, and make a huge profit that could cover your expenses.
Because native clothes are being worn occasionally, they are more expensive than some regular “English Wears”. This makes it very profitable.
All you need to get this business started is just to locate native clothing materials wholesalers, negotiate and buy a variety of clothes at the best prices, and then market them to your friends and schoolmates.
ONLINE BUSINESSES TO START WITH 200K IN NIGERIA
25. Mini Importation
Mini importation is the newest and very lucrative online business you can start with 200K in Nigeria regardless of your location.
Mini importation is simply a business model where you order items at cheap rates from China via Aliexpress or Alibaba, and have them shipped to Nigeria where you can sell them for profit.
Items such as shoes can be bought for N1500 including shipping and clearing fees from China and sold for N4500 in Nigeria where you’ll keep a profit of N3000.
Blogging is one of the best online businesses to start with 200K for students in Nigeria.
The idea here is to create a website where you’ll be posting informational content such as news, tutorials, and other educational stuff.
How do you make many with is business? There are many ways you can turn your blog into a money making machine. These include ad network monetization, affiliate marketing, CPA marketing, etc.
To start this business, you’ll need to pick a niche, buy a domain name, get a hosting plan and launch your site. For students, you can start by publishing news content about your school.
27. Forex Trading
Wants huge and fast money? Then start trading forex as it is the only online business you can start in Nigeria with 200K and become a millionaire in no time.
Forex trading is an investment type of business where you buy and sell currencies to make money. If done right, you can make double your investment in a week.
Learning how to trade is the first step to becoming a profitable forex trader. After that, sign up for a reliable broker such as Exness or ICmarkets, then fund your account and start trading.
Note: in this post, forex trading is the most profitable, yet the riskiest business model where you can lose all your money if done the wrong way.
Freelancing is an online business that you can start with 200K as a student or graduate.
The idea here’s to turn your skill and time into money. You’ll need to acquire good skills such as copywriting, graphics designing, SEO, and so on. Then offer these skills to people and get paid.
To start, you can sign up to freelance websites such as Fiverr, Upwork, Freelancer, and/or PeoplePerHour, to get clients who will pay for your service.
This business can be started totally for free, but if you which to invest to get quick sales, you can run ads from your N200,000 capital.
29. Affiliate Marketing
Affiliate marketing is another popular way of making money online with 200K investment.
The idea here is to find a good product, recommend it to people online, and once they purchase make a purchase, you’ll be paid a commission.
Afilliate marketing can be started for free by reaching out to people organically. However, the easiest and fastest way to make money with affiliate marketing is to run online ads that will help you get to more targeted audience.
30. Digital Marketing Agency
Starting an online marketing agency is a very good online business idea that can be started with 200,000 Naira in Nigeria.
This business is the one where you help businesses market their products or services online and get paid a huge amount of money.
To start this business, you’ll need a good digital marketing skill which you can enrol in a training program or watch online tutorials to learn.
Once you acquire the skill, you can start by meeting small businesses such as boutiques, shirt makers/designers, interior decorators, and all those who you think can leverage the internet to grow their business.
Offer them your service in return for good pay. Once they see how your marketing helps their businesses, they’ll keep calling you and even pay more.
31. Web Designing
Website design is a very profitable skill that could make you millions of Naira online in Nigeria.
This business is the one where you create website, or fix some issues on websites and get paid. Similar to digital marketing, you’ll need to learn before you can make money with this business.
Once the skill is acquired, you can start by listing your gigs on Fiverr, and Upwork to get some free sale, or run an online advertisement to attract targeted customers that will pay more for your service.
200K Business Ideas – FAQs
What business can I start with 200k as a student?
Businesses you can start with 200K as a student in Nigeria include pastries and baking business, making of bead jewelry, sales of jewelry, blogging and mini importation business.
What can I do with 200000 Naira?
With 200,000 naira, you can open a cosmetics shop, start a farming business, cement retailing business, POS business, sales of cooking gas, mini important, invest in forex, etc.
Can I start a cement business with 200k?
Yes, you can start a cement business with 200K and even less.
What business can I start with 200k in Lagos?
Businesses you can start with 200K in Lagos include real estate business, uber business, sales of cosmetics/beauty products, sales of jewelry, sales of oven dried fish, open a boutique, and POS business
What business can I start with 200k in Abuja?
Businesses you can start with 200K in Abuja include real estate business, POS business, opening a boutique, sales of jewelry, production and sales of ice block, sales of native clothing materials, uber business, and sales of oven dried fish.
What business can I start with 200k in Port Harcourt?
Businesses you can start with 200K in Port Harcourt include sales of jewelries, sales of native clothing materials, POS business, cement business, sales of cosmetics and beauty products, and opening a restaurant.
What business can I start with 200k in Ibadan?
Businesses you can start with 200K in Ibadan include POS business, sales of native clothing materials, sales of cosmetics and beauty products, sales of jewelry, food stuff retailing, and production and sales of ice block.
When you have enough capital to start a business, knowing the best business for you may be a little bit difficult. With this post, I believe that the difficulty in picking a profitable business to start with 200K has been eased off, because I have provided you with a lot of the best business ideas online and offline in Nigeria.