100 Best and Lucrative Business Ideas In Nigeria 2023

100 Best and Lucrative Business Ideas In Nigeria 2023

Would you want to start a business in Nigeria with low capital? If your answer to this question is yes, I’ll be showing some of the best businesses in Nigeria with low start-up costs. In this article, you’ll be seeing my top 100 best small-scale business ideas that will make you rich in Nigeria.

There are over 1,000 business ideas that can easily make you rich in Nigeria, but you can’t see them because you’re not looking hard enough. Nigeria is an enormous market if you ask me. It is the economic capital of Africa, to be exact, making it one of the best places to invest money in Nigeria. 

You can capitalize on this and create wealth for yourself. Why look for a job when you can create one? I believe the ideas listed in this article can work for anyone interested in starting a business even if they are disabled.

Like all businesses, you will see a lot of setbacks, but with hard work, determination, and persistence, you will succeed. If you’re interested, these are some of the best businesses for Nigerian entrepreneurs and foreign investors.

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100 Best Lucrative Business Ideas In Nigeria

Nigeria is the giant goldmine of West Africa, it is one of the best places to invest money or start a company in Africa. If you plan to start a business in Nigeria but don’t know which one, I’ve got a small list of 100 hot small scale business ideas to start in Nigeria

Are you ready? These are the best businesses that you can start in Nigeria, even if you’re on a budget.

1. Online Advertising Agency

Over $400 billion was spent online on ads in 2018. This business is taking over the world from blogs to Facebook, social media, websites, newspapers, search engines, apps, and games.

With this business, you can easily become rich in Nigeria. Setting up an online advertising agency will help you take advantage of this opportunity and make money easily.

2. Security & Tracking Services

Selling, repairing, and installing CCTV cameras, stun gun, GPS trackers, pepper spray, lasers, alarm systems, car trackers, mobile trackers, and other security gadgets have proved to be profitable, especially in areas with high crime rates and elite society.

Urbanization comes with its advantages. Unlike bouncing and security services with which you have to do the physically, here the machines do all the work. You can make millions of Naira from this business monthly.

3. Exporting

You might be thinking there is not much to export in Nigeria, but sadly you’re wrong. Exporting raw materials is one of the most profitable international trades in Africa.

Exporting raw materials like Cocoa, green vegetables, vegetable oil, yam, cassava, palm oil, or crude oil to other countries can make you rich. Whatever can be grown can be exported, all these items are in high demand outside the nation.

4. Public Relations Services

If you do know how to engage the public, then this skill is ideal for you. There are a ton of jobs waiting for you as a PRO from celebrities to governors, businessmen, and even politicians are your client as long as you can handle their public profile. This fast-rising business opportunity in Nigeria can easily guarantee your financial freedom.

5. Agriculture

Nothing says easy money like agriculture, planting crops, and rearing animal is a fantastic business idea for Nigerians. Planting staple food like rice, cassava, potato, and beans has a high proven to be very profitable.


If you don’t believe us, you should check out our list of profitable Agric businesses in Nigeria. You can easily build a massive network for farmers & agriculturists especially here in Nigeria and head off on your way to financial freedom.

6. Brewery

Alcoholic drinks are a kind of necessity in special events and celebrations around the world, this is enough proof that alcohol is in high demand around the world. Here in Nigeria, most people have their preferred beverage, tastes, or flavor.

This business idea has a high start-up cost but is worth it. Setting up your brewery is a game-changer, this high-yielding business idea can turn your life around within 36 months.

7. Showbiz and Entertainment

Over three billion Naira are gathered from showbiz and entertainment in Nigeria. There is a lot of money stuffed in this industry and if you play your cards right, you can grab a couple of millions while you’re still in the spotlight.

Creating entertaining music, movies, videos, or posts on social media is a game-changer. Best of all, going viral in this industry is super cheap ,depending on your audience. You can start as an influencer, then a model, and then an actress.

8. Juice & Beverage Production

This is another great passive income idea that you are sure to love. Starting up a juice factory as an alternative to beer or as diversification for your brewery is one hot business idea that will surely make you rich.

9. Transport Services

The transportation business is another big business in Nigeria. Everything from tricycles to motorcycles, taxis, and buses may seem like small businesses, but these vehicles make close to ₦100,000 every week.

Most people sitting in air-conditioned offices don’t make that amount in a month. You can purchase any vehicle of your choice, hire a driver, and make up to ₦150,000 a month without actively working.

10. Sport Trainer

Nigerians love sports from football to basketball, boxing, golf, cycling, and tennis. As a sports instructor/coach, you have a wide array of customers waiting and trying to get your attention as long as you have the qualifications and their confidence. If you want to get rich fast in this industry, raise your prices and try to get some of your team members abroad or something like the Olympics.

11. Movie Production

The movie production business has become a mega-business in Nigeria. It is a multi-billion dollar industry and a very lucrative business in Nigeria that anyone can start with very small capital.


Nollywood has become a big source of income for both actors, film producers, stuntmen, cameramen, and other specialized technicians. I bet you can make millions from this business if you can shoot a movie as well as Game of Thrones. 

12. Selling Car Spare Parts

In Lagos alone, they are close to three million vehicles moving around the state moving people and goods. In this business, you cannot run out of customers as long as you’re in the right place. Vehicle spare parts like tire rims, brake pads, engines, windscreens, doors, and batteries are in high demand in cities like Lagos, Abuja, Port Harcourt, and Owerri.

Selling car spare parts is one of the best businesses for financial freedom and quick profits. Vehicle parts are always in high demand, especially in populated cities. It has proved to be lucrative in most cases, and a single trade can fetch you up to ₦35,000 in profits from just one trade.

13. Set up a Filling Station

Vehicles and other machines need petrol to stay operational. Setting up a filling station is another bright entrepreneur idea that will make you rich in Nigeria. This is another viable business idea that Nigerian entrepreneurs can use to their advantage.

Whether you set up your filling station on a large scale or a small scale, selling petroleum products like fuel, diesel, or kerosene is a sure way to make money, especially if you reside in Lagos.

14. Furniture Making

Ikea is one of the biggest furniture makers in the world. It is now a global brand. Anything that will bring out the beauty of a home sells easily in Nigeria. From Tables to cushion chairs, cane chairs, iron chairs, bed frames, and even bookshelf sells fast in Nigeria. You can make furniture and sell them for cash.

15. Car Dealership

Selling cars, vehicles, and other automobiles has proved to be profitable in Nigeria. Like I said earlier, over three million vehicles are moving around in Lagos alone starting your car dealership early enough can fetch you an acceptable amount of profit. If you don’t have the capital to get started, you can partner with any of the car dealers in Nigeria till your own business becomes a trusted brand.

16. Grocery Store and Supermarket

Setting up a grocery store in your area is another perfect small-scale entrepreneur idea to make money in Nigeria. It can also act as a passive income for you, depending on how you started the idea. This is one of the best businesses in Nigeria you can start anywhere in Nigeria.

17. Hotels

It’s no wonder why there are so many hotels in my Neighborhood. This business idea is always fresh, they’re a lot of passive revenue you can accumulate from your hotel business. Some people can spend up to ₦100,000 for just a nightstand in hotels, bars, and lodges. You can start your small hotel and tell me about your experience.

18. Selling Building Materials

Places like Ikotun, Oshodi, Ojo Alaba, and Oduade are popular because they are among the few places in Lagos known for selling original building materials. Selling high-quality building materials like toilet seats, POP, steel frames, cement, plastic pipes, tanks, metal rods, and sand can make you a lot of money here in Nigeria.

19. Property Flipping Business

This business is always booming and one of your best business ideas. You can also talk to a contractor that you can supply the material they need and make millions in days.

This is one of the best businesses to start if you want financial freedom. The real estate biz always seems to output profit in both short and long terms. This business is surely one of the fastest ways to get rich in Nigeria.

20. Car Wash

Setting up your car wash is another great way to make money in Nigeria. If your location is strategically placed along an expressway, then rest assured that you’ll be making up to ₦30,000 daily.

You can easily own a car wash and hire boys that would do the heavy lifting for you. This is another smart business idea for Nigerians you should consider trying out.

21. Laundry & Dry Cleaning Services

Opening your laundromat is another amazing business that you should try out. This is a business you can start with to start with 20k and still get good profits with very little work. A Laundromat and dry cleaning service are easy to start up business and cost-efficient.

22. Landed Properties

If investing in real estate and property flipping sounds too much for you, then you should try investing in landed property. Landed properties will always appreciate, especially in the long term.

You can start by buying cheap land in Lagos, Abuja, Kano, Warri, Onitsha, or Kaduna, and reselling it when the price appreciates is a really smart business idea if you ask me. You can also invest in landed property by renting it out or selling an already built house to make money.

23. Set up a Private Education Institution

It’s not new news that owning a school can easily make you a millionaire in Nigeria. Back then in secondary school, my class alone made an output of about ₦700,000 per term. If you have enough money, you can set up your school and start making it.

24. Importation

Importing goods into the country is one of the easiest startup businesses in Nigeria with massive benefits and income potential.

International trade with China, America, UK, and South America has proven to be very, very profitable, especially car gadgets, health products, and mobile devices.


25. Scriptwriting

This is another superb business idea for you. Writing and publishing comics, series, storybooks, and scenes for movies is a splendid start to financial freedom.

If you don’t have the money to produce your film, you can sell the script and still have full credits for it. You need to let your writing skill go to waste.

26. Consultancy

Do you have any experience in stuff like agriculture, making money, or relationships, then I think that you should open your consultancy firm. This is one big business idea that you would not want to miss. This business idea can easily fetch you a lot of money depending on your area of expertise. You get to make money and help people at the same time. How cool is that?

27. Clinics and Hospital

You don’t have to be a doctor to open your hospital or clinic, you just have to set it up and employ professionals to do their work. Setting up a clinic or a hospital in your local government area is also one of the best business ideas in Nigeria you can think of. You get to save lives and make money at the same time. 

28. Setting up a Pharmacy

Setting up a pharmacy is another amazing business idea to make money in Nigeria. This business is very, very lucrative, especially if you set up your pharmacy in a suburban community with lots of people. This line of business is easy to start up and is also the best alternative if you don’t have enough money to set up a hospital.

29. Event planning

When it comes to big events like weddings, church thanksgiving, and even birthdays, a lot of money can be spent by the organizers to make sure that the event goes on perfectly. As an event planner, you can make a lot of money without actively working for it.

Don’t be deceived, event planning and services can fetch you a lot of money. This is one of the best startups for young entrepreneurs and businessmen in Nigeria. It can fetch you a lot of money whether you do it on a small or large scale. 

30. Tailoring

Tailoring is one of the biggest businesses in Lagos today. This business controls most of the sectors in the fashion industry, and that alone is a good reason to consider investing in it.

Both men and women spend a lot of money on their outfits and attires especially if it is for a casual event. If you have a creative mind or can recreate a red carpet outfit for your clients, then you will surely make a lot of money.

31. Carpentry

Apart from making furniture, carpenters also make wooden doors, windows, and roofs of a building. This is another entrepreneur’s idea that you can start from nothing. Don’t be deceived or deterred by the manual labor involved, carpentry is a good business for Nigerians.

Carpenters make a lot of money, even though most of them don’t dress like they have money. The income potential of this business is quite jaw-dropping, and it can also serve as a passive income stream if diligently done.

32. Concrete Block Production

If you know how to mix cement and make cement blocks, then this is one of the best jobs for you. This business requires no special skill, unlike most of the jobs on this list. You can get yourself a block-making machine and save yourself lots of trouble.

There are thousands of people looking for your services to build their houses, hotels, schools, and church. Besides, you don’t need to spend too much money when setting up your cement factory.

33. Veterinary Services and Pet Breeding

Nowadays, people see pets as a member of the family, and the love for pets, especially dogs and cats, has somewhat tripled over the last decade. If you can start a veterinary services business in Lagos, Abuja, or Port Harcourt, you will make a lot of money.

If you know your animal anatomy or are a big fan of pets, this is one of the best businesses you can invest in. You can start your animal shelter, and sell and treat dogs, cats, birds, and fish. The income potential is massive and you can earn up to ₦40,000 per service.

34. Photography

Photography is another amazing business idea you should consider investing in. Taking pictures in special events and ceremonies is a legit way to make money in Nigeria. This business is easy to start up and you will improve your skills as you grow up. Photography is a good business idea for students at a university in Nigeria.

35. Video coverage

You can mix this business with your photography idea and make money, even if you are a Nigerian student. Video coverage has a fairly higher income potential than photography, but requires far more experience. Anyway, this business idea can fetch you a lot of money, especially if you are a student in any Nigerian university.

36. Bouncing and Security Service

Bouncing for clubs or working as private security or bodyguard for rich people won’t make you rich but this job pays very well. You can also set up a company that offers security services to interested clients and start making passive income off the people you employed.

37. Sachet Water Production

Owning a sachet and a bottled water company is one of the best ways to make money in Nigeria. This is surely one of the best side hustles in Nigeria for part-time workers. With just one machine you can make up to 2,000 sachets of water and up to 700 bottles of water every day. How much do you think you’d make in a month from this business? 

38. Bricklaying

This is another business idea that you should try out if you want to legally make money in Nigeria. Bricklaying has one of the highest-paying services in Nigeria, but the manual labor involved is very exhausting. Aside from that huge disadvantage, this is one job that will fetch you lots of money.

39. Haulage Services

If transporting people isn’t your thing, then you can start up a haulage service and transport goods from place to place. This is one of the best small business ideas for young investors to try out this year. You can earn up to ₦120,000 per service and even save enough to start a second business. You don’t need to be the driver, you can get a truck and lease it out to drivers.

40. Selling Mobile Phones and Gadgets

Every single person moving around today goes with at least one smartphone in his pocket and other accessories like mobile phones, USB chargers, Bluetooth speakers, headsets, earpieces, desktop chargers, or power banks. There’s so much to achieve by selling mobile phones and other gadgets. You can easily import any of these gadgets from China, Germany, Belgium, the UK, or the USA and sell them for quick cash in Nigeria.

41. Shoemaking

When I said shoemaking, I’m not talking about those Aboki going around to repair shoes for ₦20, I’m talking about exclusive handmade shoes and slippers that sell for more than ₦3,000 a pair.

Shoemaking is another lucrative business in Abuja that can fetch if a lot of money, especially if your store is located in a popular area like the Jabi Lake Mall or somewhere cool in the Wuse District. I know that each handmade slipper costs like ₦3,500 and confirm leather handmade shoes will sell for at least ₦30,000. This business is profitable and I will implore skilled Nigerians to learn a thing or two from this business.

42. Make-up Services

I’m sure that you already know how expensive good makeup is, especially bridal makeup. This is a business that you can start easily once you know your way around the face and can make your client look beautiful. If you stay in Lagos, get a makeup salon in VI and make money like water.


If you don’t have money to get a salon, you can start small and make sure that you do good makeup because referrals matter a lot in this business. If your service and price are good, your clients will tell their friends about you.

43. Hairdressing & making

This is another cost-efficient business idea for Nigerian women. This is also one of the best side hustles for graduates and students in Nigeria. Hairdressing is easy to startup and pays fasters than most office jobs in Nigeria. Since some women can spend close to ₦20,000 on their hair. So as a hairdresser, you have the chance to make a lot of money by dressing hair depending on how much you charge.

44. Phones, Laptops, and Gadgets Repairs

This is a small-scale service that you can start in Nigeria to make money like dynamite. You can repair mobile phones and other gadgets and start making quick money in Nigeria. There is no fixed price in this business, you are your boss and can charge your customers anything that comes to your mind.

45. Modeling Agencies

You can simply set up your modeling agency and start earning big. There are a lot of modeling agencies in Nigeria that are making passive incomes from the models on their roster. Most Nigerian Youth now venture into the modeling business because of high pay and little work, if you own a modeling agency can earn at least 100k every money even though it is an online modeling agency. It’s not a must that your company has a physical address.

46. Freelance writing

You can also decide to write for newspapers, magazines, on other websites for money. This is one of the best ways to make money online since the job doesn’t require any special skills. This business is one of the best ways for Nigerian graduates to make money online, even while they are applying for other positions in companies.

47. Stationeries

Selling stationeries and other writing materials is another idealistic way to make money in Nigeria. Selling materials such as Onward, Leo Smart, Lucky Ballpen, Big textbooks, math sets, pens, pencils, or graph books can fetch you a lot of money especially if your business is located in an especially if you are located close to an academic area with a high consecration of educational institutes.

48. Welding

I’ve seen welders charge over ₦100,000 for a small metal gate and even more when they get contracts for hotels and schools. The welding business is good, especially in Nigeria, where there is rapid urban development going on around major cities across the state. This is another profitable business idea for skilled Nigerians.

49. Restaurants and Eateries

Restaurants and eateries make over 40% of their profit every day. This business can fetch you a lot of money, even if you start small. By simply cooking and serving meals, you can make money off people that can’t cook or are too busy to prepare their meals. My aunt had an eatery in Surulere she made a lot of money before she traveled abroad. Even now, she wants to start a Nigerian Kitchen in the UK and make money during her stay.

50. Selling Clothes/Accessories

If you can get a boutique or small shop where you can sell clothes, shoes, trousers, watches and other accessories then you will make a lot of money. If you are lucky enough to get a store in a mall or popular business area, with God on your side, you will make a lot of money. You can also get a small slot on Lagos Island to kick start your business.

51. Recruiting Agency

Owning and finding competent staff for companies is also a nice way to make money in Nigeria. Your recruitment agency can help companies, factories, and agencies get the workforce they need for the business and make you rich with no form of stress.


52. Giving Tutorials

Giving tutorials to students, children, and even adults that need help in one academic area or the other is a great way to make money in Nigeria. This is a business idea that can help people and allow you to make money at the same time, which makes it a fantastic business idea for Nigerians.

53. Game houses

Starting a game house close to your house is another amazing way to make money in Nigeria. People pay lots of money to play video games, especially adventure games on PlayStation 3 and 4 consoles.

A former classmate of mine used to spend about ₦1,300 every day on God of War and call off duty before he bought his own PS 3 gaming console. There are hundreds of people like this waiting for you. You can start your own game house and make money without stress.

54. Home/Office Cleaning

Cleanliness is an important attribute of a healthy environment. Those that are too engrossed in work usually employed people to clean their offices, company, or homes. This is a straightforward job for anyone willing to try it out. You just need small equipment like mops, brooms, buckets, and a few flyers advertising your services.

55. Writing Resumes

Writing resumes, CVs, and business proposals is another amazing way to make millions in Nigeria without stress. You’d be surprised if I told you the number of Nigerians that can’t write a simple resume.

When you become an expert at writing resumes, CVs, and small business plans, you have the chance to work with hundreds of entrepreneurs and companies to reach their goals after you’ve given them a well-detailed structure. This business idea is also easy to start and quite profitable.

56. Programming

Although this one requires a lot of skill and ample knowledge about basic and complex languages, programming still ranks as one of the hottest skills that will make you rich no matter where you live. Programming is one business idea that would fetch a lot of money in and out of Nigeria.

57. Apps Development

Coding and making apps are another great way to make money in Nigeria. The income potential of this business is massive. If you can choose to work for someone or a company that makes an app, you still make a lot of money.

You can also make money from Google AdMob, paid adverts, and affiliate links placed on the app. This is not a bad way to make millions in Nigeria since everyone now carries a smart device or gadget. You can make a simple loan calculator and sell financial advice to your users. How cool is that?

58. Catering

Catering to wedding ceremonies, churches, birthdays, and other social gatherings is another fantastic business idea that can fetch a lot of money even on holidays. Since this business idea is a weekend job, it is the perfect side hustle for Nigerians looking for a second business.


59. Book Publishing

Publishing books is a great way to make money in Nigeria. Books are by far one of the most common means of mass communication. Book publishing can make you very rich fast in Nigeria. Plus, there are many varieties of books to write, print, and publish. This means the income stream of this business will never dry as long as you’re a good writer.

60. Radio station

Starting up a radio station is one of the best financial investments in Nigeria, and it is not as hard as it seems. If you are dedicated to running your FM station, you can make it one of the most popular FM stations in Nigeria. I promise to publish a guide on how to start a radio station in Nigeria very soon.

61. Set up a law firm

You don’t have to be a lawyer to set up a law firm, just like you don’t have to be a doctor to own a hospital. You just set it up and employ competent staff to run the business for you. Your main job is to manage the organization and count your profits. Civil cases are been on a constant rise in Nigeria, so you’re surrounded by potential customers.

62. Sports Viewing Centre

If you like sport and have extra space in your house, why not try out this business? The beautiful game of football is one of the hottest sports in Nigeria. You can open your sports viewing center with just three TV sets and a DSTV console.

Setting up a sports betting/viewing center to watch live football games in public will surely fetch you a lot of cash, especially in populated urban centers. Quite frankly, many people enjoy watching football with their friends than watching it alone at home.

63. Freight Forwarding

You can also make money from bringing goods into the country, you don’t have to have an office or spend money importing the goods. You just need a friend abroad that you can send money to buy goods and send them to you. Once the goods arrive in Nigeria, you clear them from customs and enjoy your profits.

Helping people bring their goods into the country and getting paid is a sure way to make millions in Nigeria. To be frank, I think this is one of the hottest business ideas in Nigeria.

64. Entrepot

Entrepot involves trading with two or more countries or re-exporting goods without repackaging. It is quite similar to the dropshipping business model, just a bit better than you’d expect. What this simply means is that you buy from one country at a cheap price and resell to another that has a high demand for that commodity for profit.

65. Graphic designing

They’re everywhere around you. There are images advertising churches, hotels, factories, businesses, companies, and even government programs. This is not a bad way to start making money in Nigeria, you can start your own graphic design business along with your printing press and make a sweet income as a Nigerian entrepreneur.

66. Youtube Monetization

With a lot of videos and subscribers, you can also make tons of money from Youtube. Just upload a video or good informative slideshow about something you know to your Youtube channel.

You can monetize your channel with Google Adsense, affiliate links, or even paid advertising from other brands and businesses. This is one of the best business ideas for Nigerians that want to make money online.

67. Making Videos

You can also make money from making videos and posting on other video streaming platforms for income as an alternative to Youtube. Yes, you can make and sell quality videos to businesses and individuals for quick profits.

You can start an online course where people pay to watch your video or sell them to other people that need your videos to help send delicate information. It’s that easy.

68. Making Games

A lot of people will give anything to play a fun game, especially kids and grown adults. You can easily make money online by simply playing a simple but addictive game like Chess, candy crush, chess, or subway surf, you can make passive income without any investment.

Sounds too good to be true right? Well, hurry up and build your own game for android or IOS devices. If you don’t know how to make video games, you can start by taking online courses on coding mobile games or designing your game algorithm.

69. Social Media Marketing

Sad enough, a lot of Nigerians don’t know the income potential of becoming a social media manager. Imagine reaching out to a company like Pepsi with a sales cover that you can help them increase sales by creating an amazing post on their Instagram handle. Pepsi would pay you nothing less than ₦200,000 for this deal.

The internet is something more than uploading cute pictures and funny memes, there are millions of dollars waiting for you on Facebook if only you can open your eyes. Start marketing your goods on social media, make them trend, and make passive income.

70. Lead Generation

Lead generation is a sure way to become a millionaire in Nigeria without blood money. Like affiliate marketing, you refer people to certain to purchase a product from a certain brand or business and get paid for every referral. You can choose to get paid per referral or upon reaching an agreed threshold.

71. Website Development

If you are good at programming or understand the concept of web development, you can also try marketing your service online or in marketplaces like Jiji, Upwork, Fiverr, or Iwriter.

You can choose to develop an online business using platforms like Blogspot, WordPress, Laravel, or even Drupal. You‘ll need to know basic languages like Html, PHP, CSS, and Java before you can make money from this business idea.

72. Dropshipping

Dropshipping is another hot business that can fetch you a lot of money all over the world. Similar to freight forwarding, dropshipping is a perfect passive income stream in Nigeria.

You simply create an advertisement for a product you don’t have and buy one every time someone makes an order. Despite several challenges, dropshipping still makes millions of people millionaires worldwide.

73. Recycling Waste

Recycling waste is another great way to make money in Nigeria. Especially in populated cities like Lagos where dirt is in huge piles around major highways. You can choose to gather this “garbage” and resell or recycle them for other companies and individuals that need them. This way you are saving the environment and making a lot of money.

74. Nylon Bags Production

Making polythene bags is another great way to make money in Nigeria as a sole proprietor. You don’t need any special skills to start this business. You just a nylon-producing machine and you can make polythene bags and sell them for profits.

75. Feeds Production

I started a poultry farm in April 2020 before the Corona Virus lockdown, and ever since I’ve been spending more than ₦2,500 every month on feeds for my birds. It’s difficult at all, but I need feeds to keep my birds alive. Now, imagine supplying feeds to everyone in your community.

Let’s be honest, the animal feed comprises over 70% of kitchen waste. You just have to gather the things you threw away when you were cooking and throw them where you keep your birds or livestock. If you have enough garbage, you can industrialize this process and sell them as feed to other livestock farmers.

Don’t you see how easy it is to start this business in Nigeria? Animal feed production is one of the best financial investments in Nigeria.

76. Forex Trading

Although you will need to undergo serious training before you can succeed in this industry. But if you know what you are doing, you can make a lot of money from trading on the Forex market.

We plan to start an in-depth guide on how to start Forex trading in Nigeria very soon. But if you are experienced in FX trading and not making money, then you have serious problems.

77. Trading Cryptocurrencies

Trading cryptocurrencies and mining cryptos is a great way to make millions in Nigeria. Buying and selling cryptocurrencies is also one of the fastest ways to make money online, even as a Nigerian student.


Many people have become millionaires by simply investing in Bitcoins, Ethereum, Tron, Litecoin, and other Cryptocurrencies. You should also know that many people have also gone bankrupt doing trading cryptos, so be careful if you want to invest in this business.

78. Selling Online Courses

Selling Online courses on Whatsapp, Facebook, forums, Udemy, or your website is a great way to make money online even as a Nigerian living abroad. Whether you sell these courses as ebooks or videos, you will grab the interest of some people and make money from their purchases.

79. Blogging

Yes, you can also try blogging for income to make money as a Nigerian entrepreneur. With the rise of rich bloggers like Linda Ikeji, Azeez Makinde, and Seun Osewa, many people have shown interest in blogging for income. If you are looking for a steady passive income stream, then you should try blogging for money.

80. E-commerce

If you don’t enjoy writing to get money, then you should try selling something online to get money. Owning an eCommerce site or trading on commerce sites is another hot business idea you can start in Nigeria.

This is one of the hottest business ideas in Nigeria at the moment. You can also sell on social media or established eCommerce sites like Amazon, Jumia, Konga, Jiji, and even Alibaba.

81. Delivery and courier services

If you have your e-commerce store, then it will be smart to open delivery and courier services to perform waybill and other delivery services to clients and other customers in the states and other customers nationwide.

You can deliberately add an overcharged price and people will still pay since they have no other choice. This business idea is fantastic and one that every Nigerian entrepreneur should consider investing in.

82. Set up a factory

Once you’ve set up a factory that specializes in making essential products like cream, leather, perfume, beverage, or plastic is another way to get rich in Nigeria. You can start your factory, implement a smart marketing strategy, and start cashing out like a pro.

83. Cybercafe

Yes, owning a cyber café is one of the best businesses in Nigeria. There is a wide variety of services offered at cyber cafes including printing, online registration, photocopy, graphic designing, scanning, and typing. You can set up a cybercafé and offer services to people in need of your services.

84. Printing press

Owning a printing press where you can mass produce works like flyers, banners, news bulletins, and magazines is another sure great way to make money in Nigeria. This is one of the best business ideas to get rich fast in Nigeria If you have enough investment capital.

85. Fitness Instructor

You can also set up your gym and work as a personal fitness instructor for people willing to pay extra for your services. A lot of people would pay millions to get the “perfect” body. If you don’t have enough money to rent a place and turn it into a gym, just get a small space in any stadium near you and get gym equipment for your students to use.

86. Mechanics

Your expertise in mechanics can also fetch a lot of money in Nigeria, no matter which machine you specialize in. You can work from home or get a small shop where you can wait for customers to come and fit their damaged machines.

87. Painting and interior designs

Making money as a professional painter and interior designer is another exciting business idea for Nigerian artisans. You can also make a lot of money by painting houses and giving ideas on interior designs. It is super to get started and you can improve your skills.

88. Spa

Setting up your spa where you give your customers special skin treatments, manicures, and pedicures is still an untapped business idea in Nigeria for entrepreneurs in the beauty niche. This business can also make you rich fast in Nigeria. The best thing about this business is that you don’t have to spend too much on maintenance and you can fix your prices.

89. Web hosting services

This is another awesome way to make money online in Nigeria. You can sell web hosting plans to webmasters and bloggers that need quality servers to host their websites. You just create a system and enjoy passive income. Besides, you can set up your own web hosting company using APIs provided by Namecheap, Godaddy, or Interserver.

90. Disc jockey services

Getting paid to be a DJ in an event like birthday parties, wedding ceremonies, and other festivities is a simple way to make money in Nigeria. This business idea is both cost-efficient and easy to start. You can start your DJ service with just your laptop, turntable, and stereo speakers.

91. Music instructor

Giving music tutorials to parents, children, and foreigners in online classes is not a bad way to make money online in Nigeria. If you can play any musical instrument like drums, piano, flute, xylophone, violin, or even a guitar, you can teach your student how to play any of these instruments and earn money from it.

92. Rental services

Renting common items such as gas cookers, speakers, pots, and other equipment needed for festivities and celebrations is another passive income stream that can make you a lot of money, especially in Lagos.

You can purchase all this equipment and rent it out to people that need it for celebrations and other festivities.

93. Aquaculture

You should also consider raising and rearing fish as a side hustle or as a means of income. Rearing fish is one of the best agric businesses in Nigeria to make money. You can start a fish-rearing business on a plot of land.

This is is another hot business idea for Nigerians and I strongly urge on to try it out. You can rear catfish, tilapia, snail, crayfish, and cod in one small pond and sell them for money.

94. Pottery

Making ceramic pots, china wares, cups, decorations, and other clay products is another amazing business idea for skilled women in Lagos. Most of these products sell faster in urban centers and have a high cost which means big profit.

You can start pottery in Lekki and be cashing out big every day. There is nothing hard about this business. Plus there are lots of people that would be interested in learning the skill, so they will pay you to teach them.

95. Selling cane products & furniture

Selling cane furniture and other can products is another exciting business in Nigeria that you can try out for income.

What is a cane product? Cane products are furniture or artworks made of wooden canes. Tables, chairs, decors, and other items made of cane are also quite pricey on the market because of their elegant build and attractive designs.

96. Modeling

Modeling is another good business idea for our graduates in Nigeria. If you have a good body build and elegant facial looks, you can start our gallery on your social media handle and get a gig in no time.

If you don’t have time to manage yourself, there are a lot of modeling agencies in Nigeria looking for models to work with them. You can enroll in a modeling agency and begin making money like a boss.

97. Data analysis

Selling data analysis on the topics concerning health, food, and politics has been in high demand for the past five decades. There are many people and companies like BBC, National Geographic, and even the IMF that will pay for accurate secondary data gathered by data analysts.

Collecting data and selling them to people who need that information is also quite profitable In Nigeria. There are a lot of politicians, healthcare workers, and multinational organizations looking for information that they can’t gather on their own.

98. Artist

Selling artwork is another great way to make money online in Nigeria. Many Nigerian artists are not rich because they have poor marketing strategies. If you can adopt the right strategy to make more sales, you will make a lot of money in Nigeria.

99. Bakery

You can also set up your bakery and start making money by making products like bread, doughnuts, cakes, muffins, cookies, and biscuits for weddings, parties, special occasions, and other events.

100. Stockbroking

Buying and selling stocks on the Nigerian stock exchange is another passionate way to make money in Nigeria. This business has already made thousands of wealthy Nigerians make more money.

Best of all, you can start and make money from the comfort of your home. You can also sell stocks in the Chinese market, the American stock market, and other stock markets.

What Is The Most Profitable Business In Nigeria With Low Capital

Many businesses are profitable in Nigeria with low capital. However, the most profitable business in Nigeria with low capital is the retail business. The retail business involves buying and selling products in small quantities. This business can be started with a small amount of money and can be expanded to a large scale. 

However, not all businesses are equally profitable. While some businesses may return a large profit, others can produce a small profit.

Here are some businesses that you can venture into with low capital;

1. POS Payment Service

This is one of the most common business enterprises in Nigeria. The interesting thing about this business is that you can venture into it with as low as ₦100,000. Most people prefer using POS to using an ATM or entering a bank.

You get paid a certain amount for every transaction you complete for a customer. To get started in the POS business, you must go to any commercial bank and request to be given a POS machine. If your request is accepted, you’ll be given a POS machine free of charge.

2. Phone And Gadget Charging

With the terrible power situation in Nigeria, this is another business avenue requiring low startup capital. All you need is to find an area with little to no electricity.

Get a small generator with numerous power extensions. You charge anyone that wants to charge a certain amount of money. Also, the amount you’ll charge depends on the gadget the person wants to charge. For example, the price of charging a power bank will be different from charging a laptop.

3. Affiliate Marketing

This is also an avenue to make money in Nigeria that doesn’t require any capital. All you need is a smartphone and an internet connection. Many big brands have sections for affiliate marketers. All you have to do is sign up and refer people to buy their product.

You’ll be paid a certain amount of money for every product sold through your referral.

What Are Some Daily Income Businesses In Nigeria?

Many businesses allow people that venture into them to earn daily wages. The interesting thing about these businesses is that they usually require low-capital startups.

Here are some daily income businesses in Nigeria;

1. Barbing and Hairdressing

This is the type of business you should venture into if you want a daily wage. Every guy and lady goes to the barber’s shop and a hair salon. On average, men cut their hair for ₦500, while ladies’ rates are different. Ultimately, this type of business is a sure way to earn daily wages.

2. POS Payment Services

One of the most profitable businesses in Nigeria is POS Payment services. The POS business will make you a lot of money in rural locations where banks and ATM points are inaccessible. 

People around you will prefer using your services to going to a faraway place to withdraw or deposit. You can charge ₦100 for every transaction completed.

3. Sports Viewing Center

Many Nigerian youths are passionate about football, so opening a viewing center could be very profitable. All you need is a space, a generator, chairs, two to five large television sets, and a DSTV premium subscription. Depending on your location, you could charge a token of ₦150 or ₦300.

4. Transportation Business

The transportation business is always in demand because people need to move from one place to another. If you invest in a bus or a small car to use as a taxi, you could make a lot of money every day. Just think about how many people need to get to their destination.

5. Car Wash

Many car owners find it difficult to wash their cars, so they use the services of a professional car wash. If you open a car wash, you can expect to have at least four customers per day. Each customer will likely spend around ₦1000, so in a day, you could make up to ₦5000.

What Is The Cheapest Business To Start In Nigeria?

One of the cheapest businesses to start in Nigeria is affiliate marketing.  Affiliate marketing is a great way to earn money online, and it’s especially well-suited to those in Nigeria. With little to no startup costs and no special qualifications required, affiliate marketing is a great opportunity for anyone looking to start their own business. 

Essentially, affiliate marketing involves promoting and selling products created by someone else. So if you’re interested in earning money through online sales, affiliate marketing is worth considering.

Here are some legit affiliate platforms in Nigeria;

  • Konga 
  • Jumia 
  • Expertnaire 
  • Learnoflix 
  • Whogohost 

What Business Can I Start In Nigeria Without Money?

 You can start many businesses in Nigeria with little or no money. One option is to start a small business selling products or services that you are passionate about. Another option is to start a home-based business, which can be done with very little start-up cost. 

Here are some businesses you can start without no money;

1. Digital Marketing 

Digital marketing is the perfect way to get your business off the ground without any investment. With the rapid growth of technology, digital marketing has become one of the most lucrative businesses around the world. 

2. Home Or Online Tutor

Giving home tutorials is a great way to earn money. You can either give tutorials to people in their homes or online. This business requires little to no capital, making it a great option for those with limited resources. 

These 100 business ideas can work for anyone in Nigeria. You can start today and start making money like a superstar. Now, which of these 100 business ideas do you think you can start and handle?

Do tell us in the comment section.

12 thoughts on “100 Best and Lucrative Business Ideas In Nigeria 2023”


    This looks very simple but hard to start with when you don’t have the CAPITAL… This year 2021 is a double hustling time ever in my life! My first time of business planning and here I am, No money to build my career… My helper please locate me

  2. Thanks for sharing this information. After going through this post I got interested in the Blogging Aspect Business. How can I start a blog that can fetch me money. And what’s the budget for starting a blog in Nigeria.

  3. Fashionandstylez

    Thank you so so much for this update,this your blog site have really being a source of information to me on how to make money,thanks keep it up.
    Nice blog well loaded kudos.

  4. Tunji Momoh

    This is absolutely enlightening …A comprehensive outlook on feasible business ideas in Nigeria…If you can think it, then you can achieve it…There is really no limit to what the human mind can achieve if it is determined, persistent and courageous enough to learn and put ideas to work. Nothing is really as impossible as it seems…Let’s learn to do small things in big ways…

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