What business can I start with 50K in Nigeria? Are you among those seeking the best business ideas for 50K capital as a student, graduate, or not even educated? Then this post houses all the best small business ideas for you.
Raising 50,000 Naira to start a business is really not a big deal, however knowing the type of business to start for the most profit could be frustrating especially when you don’t have a huge start up capital.
That is why I did thorough research and curate this article to show you some of the most lucrative businesses you can start with 50K or less in Nigeria.
To get the most out of this post, you would want to read to the end, because along the way, you’ll discover the best businesses you can start with 50K as a student, and also online businesses to start with 50K from home.
Without further ado, let’s get started!
List of Profitable Businesses to Start with 50K in Nigeria
The most lucrative businesses that you can start with 50k in Nigeria in 2023 include:
1. POS Business
POS services are becoming more and more popular and almost every household now has a POS agent, but that doesn’t mean it is not a good business to venture into.
With a capital of 50K, POS business is definitely a good one to try as you can quickly make a huge profit without waiting for weeks or days.
To start this business, you can apply for a POS machine from top companies like MoniPoint, Opay, PalmPay, and/or banks like the Firstmonie POS.
The cost of a POS machine usually ranges from N15,000 to N100,000 depending on the company and the machine acquisition method.
If you can get a POS machine for N20,000, then deposit N30,000 where you charge N100 for N10,000 below and more for transactions above N10,000, you can make up to N1,000 and more daily.
2. Mini Importation
Have you heard of dropshipping? Yes, mini importation is a Nigerian form of dropshipping.
This is a profitable business to start with 50K in Nigeria, as all you need is to purchase cheap products from China via websites such as Alibaba, and Aliexpress, then have them shipped to Nigeria.
The shipment part of this business is the hardest, but easy to understand. You’ll need to go for lightweight products so you don’t pay much for shipping and clearing.
Items like shoes can be bought for N800, on Alibaba or Aliexpress, and sold for up to N5000 in Nigeria, so you see that this business idea is very lucrative.
Once the products ordered get to you, all you just need to do is post them on social media, and update your WhatApp status with them to start attracting buyers.
Jiji, Konga, and Jumia are also great places to list your products to get quick sales.
3. Selling Dresses
Dresses such as T-shirts, Jeans, and gowns are some of Nigeria’s most selling clothing products.
You can venture into buying and selling those dresses starting with a capital of N50,000 and scale from there.
This business is ideal for residents of places like Aba, Lagos, Kano, and Ibadan where there are big markets with a lot of wholesale dress sellers.
Marketing this business is very easy, as all you need to do after getting those dresses is advertise them to friends, and neighbours. If you’re a student, telling your schoolmates about those new dresses is also a good marketing strategy for a business like this.
4. Cooking Gas Business
You should have expected this before any other 50K business idea in this post, I guess.
Regardless of the frequent hike in the price of cooking gas, it is still a lucrative business that you can start with 50K in Nigeria.
Since your budget is not much, after getting some materials like scale, hose pipe, dispenser, and other necessary tools, there will be just a little left from your 50K capital.
With the little left, you can rent a small gas tank/bottle (25kg) fill it with gas, then look for a good space in your area and start your business.
5. Open A Provision Kiosk
If you’re in a student area opening a small provision store is a good business you can start with 50K in Nigeria.
I believe you already know all you need is a small kiosk, a place to buy goods such as beverages, snacks, soaps, pure water, soft drinks, etc.
Although with the current price of such goods now in Nigeria, 50,000 Naira may be somehow not much after you buy all the goods. However, the profit margin of this business can range from N10,000 to N30,000 monthly.
6. Become a Real Estate Agent
With real estate now becoming more and more popular in the country, even without any money you can also make money off the business.
All you need to do is link people who need a good place to live, or shops to start a business with the people that have those properties, and vice versa.
Once the deal is done, you’ll receive a commission referred to as an agent’s fee in Nigeria. This fee usually ranges from N5,000 to millions of Naira depending on the location, and property.
What you need a 50K capital for is adverts. You can create a website, utilize Google Maps, pay Influencers in a related niche, run ads online, and also print flyers to create awareness.
Keep in mind that success depends on your location. If live in places like Lagos, Abuja, Onitsha, Port-Harcourt, and/or the heart of Kano and Ibadan, real estate is a very good business to start with 50K, as you could be earning at least N10,000 per property.
7. Cook-On-Demand Business
With N50,000 or less, you can start an easy cook-on-demand business where people such as bankers, and large firm workers contact you to cook for them for a fee.
Yes, it is as simple as that, but how do you get people to call you as a new business offering this service? That’s the most difficult part of this business model.
You can get clients by networking, in the sense that you’ll have to print flyers and complementary cards for advertisement. Also, walking to big firms to advertise to the workers there is also a good way to get customers.
Tip: At first, you’ll need to get close to the security officers in those organizations and give them something for every customer they bring to you.
From there, you can get the ball rolling and start getting more clients if your food is tasty and well packaged.
8. Perfume Oil Sales
Perfume oil is well known for its nice scents, making it one of the most demanded fashion products, and selling them is a very lucrative business to start with 50K in Nigeria.
To start this business, you’ll need to find a perfume oil wholesaler, negotiate to buy several bottles of fragrance in bundles and wholesale price which should cost less than 50,000 Naira, purchase as much as your money could buy and start selling.
For the marketing and sales aspect, you can advertise your products on social media or take it to firms like banks, schools, and small offices in your area.
9. Phone Charging Business
With electricity being one of the major problems of many communities in Nigeria, phone charging business is always one of the best to start if you’re not a student.
In most cities and even rural areas, phones are usually charged for N100 which means when you start with a capital of N50,000 you can be sure to break even within 45 to 60 days.
All you need to get started is a small kiosk which you can rent for N1,000 to N3,000 monthly based on the location, a second-hand generator that can be gotten for N10,000 to N20,000, and a couple of sockets and chargers with the money left.
If you charge 25 items daily and spent N1,000 on fuel, you will be making N1,500 daily which is equivalent to N45,000 per month.
10. Open a Gaming Shop
Alongside a charging business, another profitable business you can start with 50K is a gaming centre business where people come to play PS, and pay you for the time spent.
Usually, this business goes hand in hand with the charging business. All you need is a more extensive shop, a PS game player and pads, then a small TV which all shouldn’t cost more than 50K.
Getting customers for this business is very easy, as a lot of youths and teens usually like to challenge themselves in gaming shops. So, if you’re lucky to get customers like me, you could be making up to N10,000 daily.
Yes, I do go to gaming shops and spend at least up to N2000 before living (Lol).
11. Selling Shoes
Another 50K business idea for anybody who wants to start an easy business in Nigeria is the Shoe business.
You can start with easy wear like slippers, flip flops, and sandals which tons of it can be purchased at wholesale prices in larger commercial markets.
Friends, neighbours, and schoolmates are good places to start marketing from. You can also utilize social media such as Facebook, WhatsApp, and Instagram to advertise those shoes.
Related: How to Sell on Jumia in Nigeria
12. Soap Production
Whether liquid or bar (moulded/solid), soap production is another easy business you can start with 50K in Nigeria from the comfort of your home.
This business model is sure to drive quick and easy sales because everybody needs soap for washing and bathing. So, you can start today and make your first sale.
For liquid soap, all you need is the necessary chemicals and plastic bottles for packaging. While for bar soap, you’ll need moulding, trimming, and cutting machines, then all the necessary chemicals to get this business started.
13. Open a Cosmetics Shop
Mainly for ladies, opening a cosmetics shop where you sell skin care products such as body creams, lipsticks, eyebrows, bar soap, tubes for spots and acne, etc, is a lucrative business you can start with 50,000 Naira in Nigeria.
All you need to get started is a small shop which should cost N1000 to N3000 monthly. Then, find a cosmetics wholesaler, negotiate and buy some items that you know would sell fast with huge profit.
You can start marketing these products by advertising to your friends and neighbours. Students too can start this business even without a shop. All that is needed to be done is get those products then take them with you to school and advertise them to friends, coursemates, and very at your lodge, or campus.
14. Recharge Card Business
If you’ve read our post about the businesses to start with 10K in Nigeria, you would see that regardless of your budget, you can start a recharge card business anywhere in Nigeria.
There are lots of recharge card wholesalers in many places (urban and rural areas) in Nigeria. Just find one, negotiate and buy varieties of recharge cards based on the network type and prices.
Then, find a kiosk or a small space on your street, print flyers and banners to advertise, and start selling those recharge cards at retail prices.
15. Mobile Phone Accessories Business
If you’re living in a student area and asking; what business can I start with 50K in Nigeria, just try buying some phone accessories at wholesale prices and selling at retail prices to see the potential of this business.
Mobile accessories such as chargers, batteries, earphones, memory cards, phone cases, car chargers, headphones, mp3 players, etc, can be sold for good profit when you buy them from a good wholesale supplier.
Once you have all those accessories, you can find a kiosk and showcase your products. And if you’re in a well populated and busy area, you can showcase your products by holding as much as possible on hand to attract buyers.
16. Reselling Used Items
Another awesome business to start with 50K in Nigeria is selling used/second-hand items such as bikes, phones, laptops, generators, fridges, washing machines, electric fans, pressing irons, etc.
Starting this business is very easy as all you need to do is take your 50,000 Naira capital, find second-hand items, negotiate with sellers, and then buy and resell them for profit.
You can start by asking your neighbours or people in your area if they have used items they would like to sell, then purchase them from them. Connecting with those items repairers is another great way to find used products for sale at cheap prices.
If done properly, you could be making up to N20,000 weekly, as you can buy a second-hand bike, phone or laptop for N50,000 and resell it for N60,000 to N70,000.
17. Small-Scale Poultry Farming
One of the easiest farming business ideas you can start with 50K in Nigeria is poultry farming.
If you have a spare room or a little space in your backyard, you can start this business by buying a day to three days old chicks, their feeds and other necessary materials with your budget of N50,000 and start rearing them.
For a start, I’d suggest you buy broilers that take 2-3 months to mature, so as to reduce expenses and time.
18. Snail Farming
Snail farming is another agricultural business to start with 50,000 Naira or less in Nigeria.
Snail farming is very lucrative in Nigeria because they are high demand than supply for giant African snails. Snails are also exported to other countries.
All you need to start this business is a small space with shades for low temperature, then buy small snails, as well as their feeds, and other necessary materials.
Patience plays a major role in this business because snails usually take up to a year before they can be ready for sale.
19. Cassava Farming
With cassava being one of the easiest selling farm produce in Nigeria, venturing into cassava farming is a good and very lucrative business, especially for those that live in the southwestern part of the country.
Cassava is usually used to make Garri, Cassava flour, and animal feeds, and it is also exported out of the country. All these make cassava farming very profitable if done properly.
To start this business, you’ll need to rent land, plough it, and plant your cassava. With proper management, your cassava should be ready for harvest after 12 months, and you see up to 200% ROI with an investment of N50,000.
20. Groundnut Farming
Groundnut farming is also a lucrative farming business you can start with N50,000 and get up to 1000% ROI in just 100 days.
A bag of groundnut could range from N30,000 to N80,000 depending on your location, and with an acre of groundnuts, you can get anywhere from 5 to 10 bags.
Now you see how profitable this business can be, right? But with a budget of N50,000, it will require more physical labour to cultivate an acre, so you can start with half an acre.
To start, you’ll need to rent land (half or one acre), plough it with a tractor, and have people help you plant your groundnut seed if you can’t do it yourself. All these shouldn’t cost more than N50,000.
With proper management, your groundnut should be ready for harvest within 90 to 100 days.
21. Dry Cleaning/Laundry Service
Are you still looking for an answer to the question; which business can I start with 50K in Nigeria? Then try dry cleaning.
If you live in Lagos or Abuja, in some areas, you can get paid N1000 or more per cloth you wash and iron. That’s huge, right?
All you need to get started based on your budget is a second-hand washing machine, electric pressing iron, and other necessary materials.
All that should cost you less than 50,000 Naira, so the money left can be used to print flyers and banners to advertise your business to easily attract clients.
Businesses You can Start with 50k as a Student in Nigeria 2023
22. Pastry and Baking Business
Making small chops like puff puff, chin chin, plantain chips, etc, and baking cakes for birthday and wedding parties is another lucrative business that is currently booming in Nigeria.
Getting sales for this kind of business is very easy, but making those products may take time. This is because you’ll need to learn how to make those products before starting.
Once you know how to make them, all you need now is to start and market them to neighbours and also showcase them in a show glass to attract passersby(s).
If you’re a student asking; what business can I start with 50K as a student in Nigeria, cake baking is an ideal one. This is because you’ll quickly get sales as students tend to celebrate birthdays at school more than workers.
Once you start with friends, coursemates and campus/lodge mates, you’ll keep getting orders from word of mouth advertisements from people if your product looks great and tastes nice.
23. Bead Jewelries Making Business
What kind of business can a student start with 50k in Nigeria? If you’re here in search of answers to this question, bead jewelry making is by far one of the easiest 50k business ideas for students in Nigeria.
To start this business, all you need to do is to watch some bead making tutorials online, then get the whole material needed and start making bead jewellery such as necklaces, bangles, earrings, etc.
Once you have those jewelry ready, just advertise them to friends, coursemates, campus/lodgemate, and so on.
24. Home Service Hairstylist/Barber
Another easy business to start with 50K in Nigeria is a home service hairstylist business which requires a clipper as a barber and a comp as a hairdresser. You can start offering home services easily in Nigeria by utilising social media as a means of marketing.
While this business sounds easy, you’ll need to learn and acquire a Barbing or hairdressing skill, then get your materials and start your business from friends and neighbours.
Barbing and hairdressing is also an ideal business to start with 50,000 Naira for students in Nigeria. During holidays, you can just enrol in a barbing or hairdressing tutorial, and within a few weeks, you should be able to do some basic haircuts/hairstyles.
Those basic styles should be able to make you some money starting from friends at school, then you can scale from there by offering a home service barbing or hairdressing.
However, if you already have any of those skills and are good at it, you can pay Influencers online to promote your business, so as to attract top-profiled people who will pay more for your service.
25. Pop Corn Production Business
Similar to the pastry and baking business, popcorn production is another 50K business idea for students, graduates and anybody in Nigeria.
All you need to get this business rolling is a popcorn machine, corn, sugar, and other necessary ingredients which all shouldn’t cost more than N50,000.
Just learn how to make popcorn, and once your product is ready, you can showcase it in a show glass, and also take it with you to school to sell to friends if you’re a student.
26. Sell Wristwatches
Similar to bead jewelry making, another easy business to start with 50K as a student in Nigeria is the sales of wristwatches.
To start, just find wristwatch wholesalers, negotiate with them and buy as many wristwatches as your money can purchase, then advertise them to friends, and other people you can connect with.
Also, you can leverage social media to promote your products by posting those watches on your WhatsApp status, Facebook pages, and groups.
Online Businesses you can Start with 50k in Nigeria 2023
Blogging is one of the easiest if not the easiest online business to start with 50K in Nigeria for students, graduates, and anybody who could read and write.
The idea of this business is very simple. Starting a blog to make money simply means sharing ideas and information with people who need them online, and making money.
All you need to get started is to pick a niche, buy a domain name, create your website, and start publishing articles such as how-to (s), easy tutorials, news, etc.
To start making money from your blog, just apply for ad networks such as Ezoic and Adsense, and once approved and your site starts showing ads, you’ll start earning money. Affiliate marketing is also a great way to make money from your blog (keep reading to learn how).
28. Start a YouTube Channel
You may be wondering if YouTube is free, but remember you need a camera and marketing may also cost you some money if you want to get going as fast as possible.
With just 50K, you can start a YouTube channel by buying a good camera, ring light, and subscribing to some software which will help your channel grow fast.
Once you meet the YouTube monetization requirements, you can apply to be a partner, and then start making money. This is also a good online business to start with 50K for students in Nigeria as I have students friends who are making 6 figures in Nigeria currency every month from YouTube.
29. E-Commerce Business
Earlier, we talked about mini importation which is a part of E-commerce. That’s just one of them as there are still lots you can start with just N50,000 in Nigeria even without having to buy goods from China to Nigeria.
Although E-commerce is a little bit difficult in Nigeria, if you are asking; what online business can I start with 50K in Nigeria, it is definitely one you should try.
To start this business, you’ll need a website launched with Shopify, find products such as phone cases, shoes, headphones, etc, for cheap prices, and list them on your site.
The easiest way to make your E-commerce business thrive in Nigeria is to sell handmade and locally made products that are rare and not easy to find.
Now that your E-commerce website is ready, all you need to do is to run ads on Facebook or pay Influencers such as celebrities to post your products on their page based on your budget.
30. Print on Demand
This is another business model for those seeking what online business to start with 50K in Nigeria.
Print on demand is simply a business model where you put designs on shirts online utilizing websites like Redbubble, Tee-Spring, Zazzle, etc.
Most of these sites already have ready to buy customers which is the best form of marketing your shirts if you know how to optimize your products.
In most cases, it is better you use your N50,000 capital to run ads on those POD sites or third-party platforms like Facebook and Instagram.
Keep in mind that you would barely get a sale from Nigeria, so, when running your ads, make sure you target top American and European countries.
Freelancing is an online business where you monetize your skill by offering them in return for money.
There are tons of people you need logo designers, video editors, copywriters, etc, and are willing to pay a lot for these services.
If you have any of those skills, you can register an account on Fiverr, Freelancer, Upwork, and PeoplePerHour where you can find those people and offer your services.
You can get buyers for free if your listings are well optimized. But if you want fast sales, your 50K can be used to invest in online ads that will help drive easy traffic to your gigs.
32. Affiliate Marketing
Affiliate marketing is another online business to start in Nigeria with a 50K capital.
The idea here is to promote other people’s products using a unique referral code, and once you get a conversion via your affiliate link, you’ll earn a commission at no extra cost to the buyer.
There are many affiliate products in Nigeria that pay well. With them, you can earn tens to hundreds of thousand per person referred.
All you need to start is to find and sign up for an affiliate program, get your unique affiliate link, and promote your link by running ads with N50,000.
Affiliate marketing can also be done absolutely for free, and you can also promote affiliate products on your blog/website.
33. Digital Marketing
Are you a social media addict? That may seem like a bad habit to lots of people but you can turn it into a good habit for yourself by learning about digital marketing and leveraging social media to make money online.
Digital marketing simply means online marketing. You can do this in two ways including organic and PPC marketing.
With digital marketing, you can make a lot of money online just by looking for small businesses that you can help create and grow social media pages and get paid.
You can start for free to see the potential of this business. It is very easy to get Nigerian clients, as digital marketing is not that popular in Nigeria.
34. Forex Trading
Looking for a kind of business to start with 50K in Nigeria and become financially stable within a few months? Then try trading forex.
Forex trading simply means buying and selling of currency to make profit. In the forex market, experts and pros can turn N50K into N100K in just 24 hours.
To start this business, all you need is to learn how to trade forex, sign up for a reliable forex broker such as ICmarkets, Exness, and/or Exness, deposit your N50,000, and start trading.
Keep in mind that over 90% of traders loose money in the forex market, so if you don’t know how to trade, you may loose all your N50,000 in just 12 hours.
Therefore it is advisable you learn for months if not years before starting.
35. Flipping Social Media Pages/Groups
Following social media pages is another easy-to-start 50K online business idea in Nigeria.
This business model deals with social media, as all you need to do is find pages and/or groups with lots of followers, contact the admin/owner, and ask if they are willing to sell the page/group for your budget.
Once you find a good seller with an amazing price, just purchase the page (make sure you have logged in before paying), then find buyers in bloggers group on Facebook to resell the page/group.
Based on experience, you could make up to 100% ROI on every Facebook pages/groups flipped. This is because many admins don’t have ideas of how they could make money from the groups they run, so they’ll be willing to sell it for cheap prices.
Related: How to Make Money from Facebook
50K Business Ideas in 2023 – FAQs
What kind of business can I start with 50K in Nigeria?
The kinds of businesses you can start with 50k in Nigeria include real estate, popcorn production, sales of recharge card, POS business, laundry business, making of bead jewelry, blogging, etc.
What business can I start with 50K online?
Businesses you can start with 50K online include blogging, freelancing, digital marketing, becoming a Youtuber, forex trading, flipping of social media pages, etc.
What business can I start with 50K as a student?
Businesses you can start with 50K as a student include popcorn production, making of bead jewelry, sales of wristwatches, blogging, flipping social media pages, etc.
What business can I start with 50K in Lagos?
Businesses you can start with 50K in Lagos include POS business, sales of cooking gas, opening a gaming centre, sales of shoes, soap production and sales, sales of cosmetics and beauty products, and cook-on-demand business.
What business can I start with 50K in Abuja?
Businesses you can start with 50K in Abuja include popcorn production and sales, POS business, sales of shoes, sales of jewelries, making of bead jewelry, soap production, recharge card business, Real estate, and cook-on-demand business.
What business can I start with 50K in Port Harcourt?
Businesses you can start with 50K in Port Harcourt include recharge card business, POS business, sales of cooking gas, sales of cosmetics and beauty products, etc.
Which business can I start with 50,000 Naira right now?
Businesses you can start with 50,000 Naira right now include recharge card business, blogging, digital marketing, and affiliate marketing.
What can I invest in with 50k in Nigeria?
You can invest 50K in farming business, and forex trading in Nigeria to earn massive ROI (Return on Investment).
Raising the money required to start a business could be very easy, but knowing the type of business to start could be frustrating especially if you have a small budget.
We believe this post has enrich your knowledge and filled your brain with some of the most profitable businesses you can start with 50K or less in Nigeria. Now, it’s your turn to take action by starting at least one.