Welcome to this article about top 50 lucrative and profitable Business Ideas in Nigeria You Can Start With Little Capital in 2024, via Afrokonnect. There are a thousand and one business ideas in Nigeria. Did you realize that there are smart businesses that you can begin from home or your terrace and make enormous benefit?.
Imagine a scenario in which I disclosed to you more than 50 businesses that you can do directly from home. I have set aside some effort to do some exploration and I will show you a few business ideas that you can begin from home immediately, but first.
What are the most successful small businesses in Nigeria?
The following are the arrangements of business ideas that you can begin directly from home and even expand to your local community:
Poultry Farming Business Idea in Nigeria
A poultry company in Nigeria or other African countries offers a wide range of possibilities. Your poultry business will expand if you have the correct distribution channel to hot-buying locations like hotels and restaurants.
Similarly, you may still earn a lot of money in the chicken industry by expanding into egg distribution, you can check the post I wrote about how to start your own Poultry farm Easily with little capital.
Agricultural sub-sectors Business Ideas in Nigeria
- Snail cultivating
- Rabbit raising and fare
- Fish cultivating (Read complete guide from my previous article about Fish farming business)
- Grass-shaper Farming
Here are top 8 agricultural business ideas we explained in details and how you can start.
Boutique Business: Fashion Industry in Nigeria
Most individuals care about how they look before going out. They may visit a clothes store in order to acquire outfits that will help them project the image they desire.
Despite the fact that the fashion business is oversaturated, clothing retailers continue to see a consistent flow of customers. Mostly drone those who are continually looking to update their wardrobes to stay on top of the most recent fashions and trends. You can check out how to start and turn a beauty salon business to a profitable venture.
Dry-cleaning is a lucrative business idea in Nigeria
As a local company, dry cleaning has become a popular option for people to become involved with. Because many working-class families lack the time and resources necessary for their own washing, many of them turn to employing community-based laundry services.
Cleaning Services:
- Laundry administration
- Dry cleaning administration
- Carpet/Upholstery cleaning
- Car wash
For full details I encourage you to read more on How to start a Laundry and Dry Cleaning Business I gave a full step by step guide.
Restaurants Business in Nigeria
Many individuals go out to eat every day, whether for breakfast, lunch, dinner, or to meet up with a friend or loved one, sometimes to spend time with their families as well.
There is no limit to the number of people who will come into a restaurant, as food is a need of life, and the volume will vary based on where the restaurant is located. You can find more information about How To Start A Restaurant Business In Nigeria – Step by Step Guide.
Food Business Ideas in Nigeria
- Bread creation
- Plantain chip
- Groundnut creation
- Making of cakes and Snacks
- Wine creation
- Candle making
- Chalk making
- Fruit Juice creation
- Yoghourt creation and cream generation
- Selling of Ice Block
- Blocks making for development
- Bagged water and table
- Leather generation/shoes and packs making
What businesses are high in demand in Nigeria in 2024?
Nourishment Industry
- Restaurant/Canteen
- Outdoor cooking administration
- Selling of Foodstuff
Which business is profitable in Nigeria in 2024?
Distributing and Printing Business Ideas
- Publishing, printing of books, schedules, Cards, handouts, bulletin and magazine
- Recharge card printing and selling
Corporate and Administrative Business Ideas in Nigeria
- Painting administration
- Film leasing
- Computer overhauling and fixes
- Electronic deals and administration
- Rental administration
- Game focus
- Computer deals and administration
- Phone/handsets deals and administration.
- Even Planner
- Interior adorning
- Photography administration
- MC/Public speaker
- Consultant administration
- Day-care administration
- Web structure/improvement
Business Ideas in Nigeria you can start with little capital in 2024
Training and Educative Business Ideas in Nigeria
- PC school/preparing focus
- Tutorial administration for essential, auxiliary schools understudies, SSCE/GCE/JAMB up-and-comers
Wellbeing Sector
- Fitness focus
Selling – Fast Business Ideas in Nigeria
- Sales of electrical apparatuses and its embellishments
The rundown above contained organizations or top 50 businesses ideas you can begin with minimal capital from home. Before going into these any business or any of the thoughts recorded above, I need you to comprehend that in the contemporary commercial center or business condition,
New organizations and built up organizations began because of long periods of devoted statistical surveying, arranging and key venture. So, you are not an exemption. You have to commit your opportunity to do some examination and arranging.
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Most Lucrative and Profitable Business Ideas in Nigeria in 2024
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Pure water Business
A popular street business in Africa is the selling of clean sachet water, it is the most popular form of water used on the African continent, which is sold to millions of people every day instead of bottled water. When it comes to starting a business selling purified water, there is a consistent demand for the product, which grows throughout the summer months.
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POS Business
There is a fast-growing business opportunity in Nigeria and other regions of Africa known as the POS cash-withdrawal industry. Because banks and ATMs are taking so long to disburse cash, businesses like Point of Sale are springing up to meet the need.
As a consequence, many customers choose to pay a small fee of less than $1 to withdraw cash from a POS station close to their houses, rather than wait in line. All you need to do is find a place in a crowded area, get the requisite equipment and register with a local bank or financial institution that issues the devices to get started.
In order to optimize your profit margins, you may put up a network of POS stations around your city. Luckily for you, we have written a comprehensive guide on How to start a POS business, as well as the Best Point of sale Systems for Small Business.
Profitable Business Ideas in Nigeria in 2024
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Cake Business
There is no end to the ongoing need for cakes because of their usage in celebrations, events, and as a treat. Cake production has grown quite profitable over the years. It’s still one of Nigeria’s quickest-growing company concepts.
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Hotel, Guest House and Lodge Business
The hotel and guest house industry has been operating for a long time, but the need for lodges and accommodations, especially in tourist destinations has grown significantly over time. Events management, entertainment performances, concerts, and other services are now being offered by some of the best hotels and guest houses, in addition to their traditional lodging and relaxation offerings.
Profitable and Lucrative Business Ideas in Nigeria in 2024
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The Business of Making Biscuits and Cookies
Biscuit manufacturing is a lucrative and fast-moving business opportunity even in Nigeria, Healthy snacks that can be enjoyed by both adults and children have been developed throughout the years in the food business.
Production of biscuits and cookies calls for a number of permissions and registrations with food regulatory agencies. However, this is offset by the high profitability, quick sales, and increasing number of job possibilities that this industry brings about.
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Food Processing Business Idea
Processes used to prepare food can be broken down into a number of different types. You’ll always have a ready market, whether you process raw items for extended storage or prepare and serve prepared meals.
As a basic essential for living, food plays an important role in the success of food processing businesses. Creating a profitable food processing business can be possible, if you’re able to brand your company correctly and focus on the market you know best.
Profitable Business Ideas in Nigeria in 2024
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The Oil and Gas Industry
Every day, millions of people buy kerosene, gas, and diesel. Small companies in Nigeria depend on petroleum goods to run, this is especially true for those engaged with road transport and barber shops, as well as hospitals, boutiques, and a wide range of other services. Even though oil and gas companies often need a large amount of cash to get off the ground, it is an industry that moves quickly all over the world.
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Transport Business idea
In order to carry out their daily routines, individuals and things need to travel somewhere. This produces a lot of income for the transportation sector.
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Hibiscus tea business idea
In towns and low-cost locations, hibiscus tea or zobo drink has a sizable market for both children and adults. On a hot day, sipping on a zobo drink is a refreshing way to cool off. You can have your cold alone, but it is also often paired with a snack or a complete meal. Even more so, the business of making and selling zobo drinks does not require a large amount of money or a lot of time.
Profitable and Lucrative Business Ideas in Nigeria
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The Business of Making Palm Oil
At a CAGR of 5.6%, the worldwide palm oil industry is estimated to reach $25 billion by the year 2025. Nigeria and many other African countries rely on palm oil as a daily need, fueling the sector’s fast expansion.
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Frozen Foods
All kinds of meats and seafood may be found in the frozen food section of the supermarket. It’s hard for the current frozen food providers to keep up with the daily demand, thus the sector continues to thrive. As a result of this, sales and earnings skyrocket throughout the holiday season.
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Beer Parlour Business
In Nigeria and elsewhere in Africa, the beer parlor industry is a lucrative one that brings in a lot of money every day. Weekends are the busiest since that’s when most people unwind after a long week of work.
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Snail farming is a profitable business idea in Nigeria
Since roasted snails are so delicious, snail farming has become a lucrative business in most African countries. Snails are commonly consumed as a dessert or ingredient in other delicacies in Africa, and its selling point is that they are both healthful and flavorful.
Profitable and Lucrative Business Ideas in Nigeria in 2024
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Sports Viewing Center
As a result of people’s enthusiasm for sports but their inability to afford sports channels on cable TV, some individuals choose to watch at a watching center in order to participate in debates with other viewers.
Since so many games are played on the weekends, it is a not necessarily a business that operates on a daily basis. All you need to get started is a suitable location and some basic equipment like TVs, cable TV subscriptions, and a backup generator.
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Soap Manufacturing
Because soaps are such essentials for personal hygiene, there is a huge market for them. The cosmetics sector has been valued to be more than $62 billion, which is heavily reliant on the soap market. You don’t need a lot of money to start a soap-making business, and it may develop fast from there.
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Makeup Shop
Because many women place a great value on looking well, the makeup industry in Nigeria and throughout Africa is growing rapidly. Makeup artists, on the other hand, use a lot of makeup if it’s of high quality and provides the desired results. You may start making high-quality cosmetics under your own brand and selling them around the country.
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Egg supply business
People eat billions of eggs every day, making the egg supply a profitable commercial opportunity for poultry producers. You have the option of either purchasing eggs from a farm or building your own farm and selling your eggs on the open market. In order to be successful, you’ll need a well-oiled supply chain.
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Building Materials
Building supplies aren’t something you’d find in your average grocery store. Its marketability has been enhanced, however, as a result of the rise in real estate and the development of more contemporary structures and facilities.
People buy building materials on a regular basis, both for new construction and for routine maintenance. You may start a building materials business by opening a shop in a major city where there are a lot of construction projects going on.
Profitable and Lucrative Business Ideas in Nigeria In 2024
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Plumbing Work
The building construction business would be incomplete without the contributions of the plumbing sector. Because of the constant need for plumbing services, it’s possible to grow this business into a huge one if the target market is the right one. Selling plumbing supplies to other professionals and homeowners is a viable side business opportunity.
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Ice Block Business
During the hottest months of the year, almost everyone prefers their beverages to be very cold. While some small companies have refrigerators, many of those that do do not have reliable power sources need Ice cubes save the day. You don’t need a lot of technical know-how to start making ice blocks at home and selling them to grocery shops.
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Car Wash Business
The rise of the car wash industry is one of the many advantages that comes with the entrance of vehicles into Africa. Because many Africans do not have the time or inclination to wash their own automobiles, the car wash industry has become a lucrative one in Nigeria and elsewhere in the continent. It’s possible to establish one in an area with a lot of residential and commercial properties and develop from there.
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Meat Production Business
If you’re looking for a way to generate money, starting a meat processing business in Nigeria and other countries is a great option. Selling raw meat, distributing products, and so on are all viable business options in this market.
A trustworthy slaughterhouse and a robust distribution network are all you need to get started. The meat manufacturing business has a constant market, but it takes some beginning capital depending on the size you wish to develop up with.
Profitable and Lucrative Business Ideas in Nigeria 2024
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Popcorn Manufacturing Business
Children and adults alike like popping popcorn as a snack. The market may be found in a variety of places, including movies, schools, roadside businesses, and traffic. Additionally, starting a popcorn producing company requires little start-up cash and skills. There’s a comprehensive guide on Afrokonnect I recommend you read about How to start a commercial pop corn business.
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Barbecue/Suya Spot
Suya, the Nigerian term for barbecued meat, refers to the charbroiled meat served in Nigeria and other African countries. Suya isn’t just a street food staple, but it can also be found at restaurants and other commercial establishments.
The barbecue industry has an endless supply of customers and requires little upfront investment. In order to optimize your revenues, you might potentially open a chain of barbecue restaurants in other places
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Shrimp Farming Business
Frozen shrimp is a popular and nutrient-dense cuisine in Nigeria, Africa, and across the world. The worldwide shrimp industry is worth over $39 million, and this demand is expected to continue to expand in the future. If you want to create a shrimp farm, you’ll need ponds and a suitable site. If you run a large farm, you may also need a few more hands.
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Supermarket Business
A supermarket is your one-stop shop for all of life’s essentials, from toilet paper to canned goods. Supermarkets are more popular than traditional markets because they offer a wider selection of goods in clearly labeled divisions, saving shoppers both time and effort. The demand for food and other necessities means that opening a supermarket is an excellent business concept that may move quickly.
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Pharmacist Drug Store
A chemist drug shop is a roadside convenience store where you may obtain prescription medications and over-the-counter medications. First aid and minor health conditions such as a headache can be addressed by going to a medicine shop.
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Profitable and Lucrative Business Ideas in Nigeria
Conclusions
We can all agree that one stream of income can’t sustain you in this current economy, in the event that you need to be effective today and be cheerful in future, you choose today. I recommend you watch the video above as it’ll widen and broaden your background knowledge of what business to start next. Thank you for visiting Afrokonnect and good luck with your next business venture.
