Home PERSPECTIVE 10 Businesses To Start in Nigeria With Little or No Capital

10 Businesses To Start in Nigeria With Little or No Capital

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A small-scale plantain chip enterprise with an initial investment of fifty thousand is capable of returning N10,000 in profit daily. If you’re looking for business ideas in Nigeria with low capital, you should really consider this. It is a type of business you can start with 5,000 or even less.

You can start this right from your kitchen. Just place your brand name on the transparent nylon, and you’re good to go. You will need to get some coaching from someone already doing the business, learn some recipes and develop a supply chain both for your raw materials (plantain) and finished products.

1. Cosmetics Production Business
If you love beauty, then going into the cosmetics business will be your best bet. For you to do well in this business in Nigeria, you will need to engage in some deep research.

Why is this important? This is because you will need to learn new things about the cosmetics industry that will keep you up to date, creative and innovative in business.

2. Tomato Farming Business
Agriculture offers one of the best cash chain investment in Nigeria today. This business is rewarding, and at the same time, not expensive to start up.

However, before you start the tomatoes business in Nigeria, you’ll need to find out what type of tomatoes are in demand. This information can be gotten from those who supply seeds, as they will be able to inform you better on popular demand.

Also, they will let you know the varieties that are patronized best. You will also need to ensure that the seeds you finally pick will grow well.

3. Ice block Production and Sale
When you talk about small business ideas in Nigeria, ice block production comes to mind. Nigeria is located withing the tropical climate region with an abundance of sunlight and heat.

Unfortunately, the electricity supply is very poor, making it difficult for homes to maintain adequate stock of cold water in their refrigerators. This is what makes ice block production a money-spinning business in Nigeria.

People require ice blocks to keep their water and drink cold. Your market includes households around your neighbourhood, retail shops, restaurants and bars that need to keep their drinks ice-cold at all times.

The good thing about this business is that you can kick off with the little you have. You need a deep freezer as well as a medium-sized generator and you’re all set. As you make money, you can scale up by acquiring an ice block making machine. So, looking for a small business to do? It could be this.

4. Liquid Soap Production
The market for liquid soap in Nigeria is so large that the well-established brands are not meeting demand.

Every household in the country needs this product. So there will always be a demand for it. You just have to be the one supplying.

If you look around you, you will find homemade liquid soaps with no branding at all, packaged in used plastic bottles being sold for between N50 and N100. This is one of the major investment opportunities in Nigeria today. You can make so much money producing liquid soap and selling to supermarkets and other shops that retail to end-users, restaurants, bakers, caterers, and home keepers.

You may have to acquire some training that is available at vocational centers run by churches, government, and non-governmental organizations. Create a large market by branding and fine packaging and you will smile to the bank.

5. Plantain Chips Production and Sales
You have seen it everywhere – the delicious crunchy snack made from unripe plantain. Hawkers sell them along the highways. The catch is, you probably did not realize it is such a lucrative business in Nigeria.
You don’t need to be a UAC or Leventis Food to engage in the plantain chip business in Nigeria.

A small-scale plantain chip enterprise with an initial investment of fifty thousand is capable of returning N10,000 in profit daily. If you’re looking for business ideas in Nigeria with low capital, you should really consider this. It is a type of business you can start with 5,000 or even less.

You can start this right from your kitchen. Just place your brand name on the transparent nylon, and you’re good to go. You will need to get some coaching from someone already doing the business, learn some recipes and develop a supply chain both for your raw materials (plantain) and finished products.

6. Food Cart/Mobile Food Business
Ask yourself this question – what sells fast in Nigeria? Food is one of the primary needs of man. Whatever the condition is with a man, he must eat. As a result, the food business will always be a lucrative business in Nigeria. It is one of the most thriving businesses in Nigeria.

The key to success here is to differentiate yourself by choosing a specialty menu, a niche, and a market segment. You cannot be everything to everybody.

Select your market carefully where the returns are higher. For example, you can choose to serve workers of big organizations like a digital bank, oil and gas companies, and multinational organizations and develop a relationship with their HR departments to allow you to bring your food during their lunch or within specific hours of the day. You can add special delivery of specialty food to busy executives as part of your service.

This particular business can be capital intensive and so, you might want to explore some platforms like Palmcredit, Branch Loan, Specta Loan, fint loan, C24 Loan, or Quickteller Loan where you can get an instant online loan in Nigeria.

7. Okrika Bale Business
This business is thriving very well in Nigeria as a result of the poor economy of the country. An average income earner in Nigeria hardly enters the boutique in the name to buy first-grade clothing.

So, “Okrika bale” business is a good business to start anywhere in Nigeria but most especially in sub-urban and rural localities.

Lagos, Aba, Kano, and Onitsha have good markets to buy bales of clothes for sale. Startup capital for this business may vary; it depends on you but you can start with a small capital of N100000 to N200000.

8. Uberpreneur / Bolt- Driving for Uber or bolt
Many people ask, “What business can I start with 2 million Naira?” If this is you, then you might want to consider Uber or bolt. There are many reasons why people choose to drive with Uber.

Some do it for the freedom to drive when and where they like. They’re the boss, and they work for as long or for as little as they want, following a schedule that suits their needs. The average Uber driver makes between 80,000 – 120,000 Naira every single week.

Right now, Uber driving is one of the very lucrative business ideas in Lagos and a few other parts of Nigeria. It does not only allow you to work when you want (including nights or weekends) but also gives you the ability to earn some extra cash while doing so. While some drivers are doing this full-time, some only do it at night after the day job and on weekends.

9. Small Chops Packaging
Starting a small chops packaging business is a lucrative business idea in Nigeria. Nigerians desire for light meals like small chops has greatly increased in the past years.

Aside from big events like weddings, funeral and birthday parties, small chops are also the preferred choice when gathering friends for a get-together, boat cruise and time on the beach.

The great thing about small chops is that even though there are a lot of people offering this service, there certainly won’t be a shortage of demand. The key to being a successful small chops business owner is creativity and packaging.

10. Eggs Supply and Distribution
Apart from its dietary needs, eggs are used to make many products such as confectioneries, cosmetics, soaps, hair conditioners, shampoo, glue and face masks amongst many others.

Supply of eggs is a business that can be started on a small scale and grow to become a big venture. If you want to go into this business, the first thing you must do is to identify poultry farms that produce quality eggs and/or large egg distributors.

Then develop a network of buyers who are many and varied around your neighbourhood. To succeed, you just need empty egg crates and a delivery van. Minus the delivery van, you can start this business with less than N100,000.

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