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25 Profitable Untapped Business Ideas in Nigeria 2022/2023

  • October 27, 2022

If you’re looking to start a business, going with one that is not yet saturated would be a great idea, as you’ll be one of the early birds to make a substantial amount of money from it. However, the issue is that, are there still such businesses in Nigeria?

Yes, there are lots of untapped businesses in Nigeria, just that you could barely think of one, as they are not too popular, although they make a lot of money.

Nairarush has rounded up 25 of those untapped business ideas in Nigeria, and in this article, you’ll discover them all. Plus, you’ll also get some tips on how to operate them.

So, if you want to make cool cash from unpopular businesses in Nigeria, check them out below, and read to the end to discover the best of them all!

1. Snail Farming

The first untapped business in Nigeria on this list is snail farming. This business is a relatively new agribusiness that makes a lot of money. Snails are easy to breed, as it requires little investment since their feed can be sourced locally.

The cool thing about this business is that Nigerian (Giant Africa) snails are in high demand in the global market. That means snails can be sold within Nigeria or exported abroad where they can be sold at higher prices.

Although it may take time for snails to reach the stage of consumption, the profit from this business is massive. A medium size snail could cost anything from 700 Naira and above in most parts of the country.

2. Juice Production

The most popular juice-like drinks in Nigeria are zobo and kunu. Fruit juice production is a new business idea in Nigeria that remains untapped across the country as it requires more equipment and skill to get started.

This business involves the processing of different types of fruits into a refreshing juice, to be served chilled and make money. Due to their nutritious value, fruit juices are in high demand by a lot of Nigerians, both at homes for consumption, and restaurants for sale.

To start this business, you just need to learn how to make all kinds of juice, get all the needed equipment, and purchase the fruits and ingredients to start making different kinds of juice and selling them for profit.

3. Car Rental

Car rental service is a highly profitable untapped business in Nigeria. This business involves renting out cars to people and getting paid for every hour they spend with the car.

This business is fast-moving in most parts of Nigeria, especially in Lagos and Abuja. This is because professional workers like plumbers, and real estate agents do hire cars to make them well-presented in front of their clients.

You can start this business with just one car and make a lot of money as the hourly rate of car rentals in Nigeria could range up to 10,000 Naira depending on the car, and location.

Related: 20 Realistic Ways to Make Money Online and Get Paid in Dollars

4. Dropshipping

Dropshipping is one of the most untapped online businesses in Nigeria. This business is very new in Nigeria and not many people know about it yet. Although recently introduced, dropshipping has been making people millions of Naira right from home.

Dropshipping is an ecommerce business model that involves buying products from suppliers and shipping them directly to your customers without having to see or touch them. To start, you’ll need to create an e-commerce website where you list your products for sale.

Learn More: The Ultimate Guide to Dropshipping in Nigeria

5. Mini Importation

Mini importation is one of the most profitable new business ideas in Nigeria that can be started right from home. Just like dropshipping, it involves buying products from suppliers. However, instead of shipping the products to the buyer, you’ll have them shipped to you here in Nigeria and sell them offline or online.

With mini importation, you can buy products for extremely cheap prices from China, have them shipped to Nigeria and sell them for a good profit. This business is very profitable as you can buy a pair of shoes for N1000 from China and sell it for N3000 Naira in Nigeria.

Learn More: Complete Step-by-step Guide to Starting Mini Importation in Nigeria

6. Tire Recycling

Tire recycling is another barely talked about untapped business in Nigeria that is making people millions of Naira. This business is very easy to start in Nigeria, since damaged tires are very easy to find, although it requires a high level of creativity.

This is because in most cases tire recycling involves turning tires that are no longer suitable for use by vehicles into new and fashionable products like chairs, tables, etc. You can also start this business by getting damaged tires and selling them to recycling companies if you can’t recycle them yourself.

See Also: How to Start a Recycling Business in Nigeria and Make Millions

7. Pet Breeding

Although very popular in most parts of the world, in Nigeria pet breeding is still an untapped business idea that can be started if you’re a pet lover. This business involves breeding pets (usually dogs) and selling them off when they are mature enough.

Dog breeding is the most popular, and it usually deals with cross breeded dogs. And those types of dogs are very expensive, so you can make a huge amount of money from this business.

8. Internet Marketing Agency

Untapped Business ideas

Although it has been around for a while now, internet marketing remains an unsaturated business in Nigeria due to the few numbers of online marketing experts in the country.

Internet marketing is also known as online marketing. It involves using the internet to deliver promotional messages to customers through digital channels such as search engines, email, websites, and social media.

SEO and social media marketing experts are most needed by many businesses in Nigeria. Both SEO and SMM are very easy to learn, as there are lots of free courses you can take online and become a professional internet marketer.

As a social media marketer, you’ll be getting paid to manage and grow social media pages for businesses through ads or organically. While as an SEO expert, your job is to help your customers rank their website on Google.

9. Investing in Startups

A lot of startups with great potential fail in Nigeria due to a lack of funding. You can become a venture capitalist, investing in small startups with high prospects and making a lot of money as they grow.

This business is very profitable, as you’ll own a certain percentage of the company. However, it is very risky, as you may lose your money if a startup ended up not succeeding. That is why the business e remains untapped in Nigeria. It also requires a lot of money to start.

10. Wallpaper Production

The growth in the real estate sector in Nigeria has once again increased the demand for wallpapers in Nigeria, as modern wallpapers are used for beautifying mainly living rooms. Despite the high demand, the business is relatively untapped in many parts of the country.

Related: 33 Highly Profitable Businesses to Start in Nigeria and Make Millions

11. Rabbit Farming

Rabbit farming is currently one of the most untapped business ideas in Nigeria. This business just started gaining ground in recent years making it not too saturated to start.

Rabbit farming involves breeding (non-local) rabbits, and selling them for profit when they are mature. You can start a rabbit farming business on a small scale utilizing a spare room or build a small shelter for them in your backyard.

If you have reasonable capital, you can also start a rabbit farming business on a large scale. Regardless, there’s a lot of money to be made from this business, as rabbits are in high demand across the country.

12. Mobile Car Wash

Commercial car wash is a very popular business, but mobile car wash is an untapped business in Nigeria. A mobile car wash business can also be referred to as washing cars on the spot. This is because instead of setting up a place to wash cars, you’ll be going around from office to office, one organization to another washing cars for people and getting paid.

This business is very profitable in places like Lagos and Abuja, as there are a lot of big companies with a lot of car users that will be willing to pay for your service. Unlike the regular car wash, a mobile car wash is easier to start and doesn’t require much capital.

13. Cook-On-Demand

Untapped Business ideas in Nigeria

If you love cooking and looking for an untapped business idea in the food industry In Nigeria, rendering a cook-on-demand service is a great one to try.

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. You can start a cook-on-demand business anywhere in Nigeria, although it moves faster in urban areas like Lagos, Abuja, Port-Harcourt, Onitsha, Kano, Ibadan, etc.

14. Real Estate

Although it is starting to trend gradually, the real estate business still remains untapped in some parts of Nigeria. This business is very lucrative and is currently where millionaires are being made in Nigeria.

Real estate business involves building and/or buying and selling and/or renting out properties such as homes, apartments, warehouses, lands, and so on.

Real estate business can be operated in many ways from being an investor to being an agent. Whether you’re an investor or an agent, you can make millions of naira from the real estate sector in Nigeria. Although it requires a lot of money to start.

See Also: How to Become a Real Estate Agent in Nigeria

15. Event Planning

Event planning business is another unsaturated and untapped business in Nigeria. This business involves finding people who have events, then helping them plan it by suggesting and finding the best location, mc, rental service, etc.

You can become an event planner at no cost, as all you need is to know in-depth what event planners do, and offer the service. There are lots of professional event planners who you can learn from before getting started.

16. Car Flipping

Car flipping is another untapped business in Nigeria that has been in existence for a long time. As the name implies, the business deals with buying and selling fairly used cars. This business is very profitable and moves fast since fairly used cars are very much affordable by a lot of Nigerians.

Related: 50 Smart Daily Income Business Ideas to Make 10K+ Everyday in Nigeria

17. Commercial Cleaning Business

Janitorial services is another lucrative untapped business to start in Nigeria if you live in cities where companies are. A lot of households and companies do need cleaners from time to time, and people offering this service are not much. So, the demand is higher than the supply, therefore you can make a lot of money in a short period of time by starting a cleaning company in Nigeria.

18. Gym Business

With Nigerians now starting to prioritize fitness, opening a gymnasium could make you a lot of money daily in Nigeria. Although this business is kind of popular, it is unsaturated. In fact, it is hard to find a fitness instructor not to talk of a well-equipped gym in some parts of the country.

Although the business is capital-intensive, it is very profitable. You can charge up to N1500 and above per person daily, and since it is something that they need they’ll keep coming back everyday, and you’ll be making money everyday as well.

19. Podcasting

Podcasting
Image Source: IstockPhotos

Till now, it is very hard to find a Nigerian in the Podcasting business. Or have you ever come across one? I guess not. This shows how untapped the Podcasting business is in Nigeria.

Although it requires reasonable capital, good networking, and communication skills, you can make a lot of money as a podcast host in Nigeria.

20. Tutorial Classes

The most popular tutorial class in Nigeria is the computer training class, leaving other skill acquisition classes untapped. If you have any skills such as bead making, catering, juice making, solar panel installation, liquid soap production, etc.? You can monetize your skill by teaching other people.

21. Solar Panel Installation

With solar energy now becoming popular, you can be one of the first people to benefit from it by learning how to install solar panels, since there are just a few technicians that do this in every state. Solar installation is easy, you just need to acquire the skill, and start making money, as the demand for solar energy technicians keeps increasing.

Related: Businesses to Start With 100K In Nigeria and Make Millions

22. App and Software Development

App and software development is another untapped online business in Nigeria. With the rate at which technology is advancing in the country, you can learn coding very easily, and monetize the skill by creating a Mobile App like a game, or software that costs a fee to access.

23. P2P Lending Business

One of the rarely known, highly profitable, and most untapped businesses in Nigeria is p2p lending. P2P lending simply means peer-to-peer lending. It involves lending people money and getting paid back with interest.

There are lots of online p2p lending platforms in Nigeria, you can find loanees there, and lend them money for a short term. This business is very easy to start, a little bit risky, and also requires reasonable capital. You can charge up to 30% interest on loans using those platforms.

24. Grasscutter Farming

Grasscutter farming is one of the most lucrative new business ideas in the agribusiness industry in Nigeria. Just like rabbit farming, Grasscutter farming can be started easily by utilizing a spare room or building a for them in your backyard.

Grasscutter meat is in high demand in Nigeria both for household consumption and restaurants. You can start this business on a small scale, as well as a large scale, and it is a very profitable one for livestock lovers.

25. Mini Gas Plant

Although very popular in many parts of the country, small-scale gas refilling business still remains unsaturated in some rural areas and some places in urban areas in Nigeria. This business involves refilling cooking gas in small quantities such as 1kg, 3kg, 6kg, and 12kg.

You can start this business anywhere in Nigeria, as almost every household now uses a gas cooker to do their cooking. Starting on a small scale, all you need is a gas cylinder (bottle), learn about the business, and get started.

Conclusion

Untapped businesses could make you a lot of money in Nigeria, as there are usually businesses with high demands. If you looking to start one, I believe this post has enlightened you more by providing 25 of the best ones you can venture into in Nigeria.