15 Lucrative Small Business Ideas in Nigeria

Starting a small business can be a great way for you to become your own boss as an entrepreneur or business owner in Nigeria.

However, it can feel overwhelming when looking for the most lucrative small business ideas in Nigeria to start and also get the right potential customers that you need.

In general, looking for profitable small-scale business ideas in Nigeria can be difficult, and while it requires some market research, hidden business opportunities, and business guides, we know it’s possible for any entrepreneur to start and be successful.

Therefore, in this article, I’ll offer you insights on the most profitable small business ideas in Nigeria. Sit back and dive in with me.

MOST LUCRATIVE SMALL BUSINESS IDEAS IN NIGERIA

These lists of small-scale business ideas in Nigeria are the cheapest businesses to start in Nigeria. Aside from these 15 small business ideas, I listed over 12 more at the end of the article, so be sure to read until the end.

Hence, let’s get into the nitty-gritty of everything.

1. Okrika Business

Okrika business, also known as thrift clothing, is one of the most profitable small business ideas in Nigeria.

Okrika business means the sale of second-hand or thrifted clothes. Okrika business, or thrift clothing, has been one of the most lucrative small-scale business ideas in Nigeria for many years, especially in the southern part of the country.

With a small start-up capital of #5,000 to #100,000, you can start this business. What is more important is finding the perfect location and also marketing your business in the proper way to potential customers.

2. Perfume Oil Business

There is no doubt that the perfume oil business is also one of the small-scale business ideas in Nigeria. In fact, when looking for small business ideas for students in Nigeria, perfume oil business is a top choice. I’ll make you understand better.

A perfume oil business is a type of business that involves buying perfumes and perfume oils in large or bulk quantities and selling them for a discounted price or your price of choice.

How is the perfume oil business lucrative? You sell to customers that are in need of these perfume oils, like students, workers, and more, and yes, it is a very lucrative small-scale business idea.

3. Textile Production

Textile production is also one of the lucrative small business ideas in Nigeria.

This involves the production of textile products like batik, adire, tie-and-dye fabrics, and so on. This small business idea can generate tonnes of revenue due to the demand for this certain type of fabric.

If you’re passionate about weaving fabrics or using the tie-and-dye method to create fabric designs, then this is a very lucrative small business idea for you to turn into profits.

4. Snail Farming

Snail farming is a very profitable small business idea in Nigeria.

Snails are one of the most sought-after food products in Nigeria. Ranging from restaurants to online food vendors, snails are widely needed in Nigeria, especially in certain parts of the country.

The question is: is snail farming profitable in Nigeria? Snail farming is profitable, with the cost of a snail rising above #500 in Nigeria. Hence, snail farming is one of the most profitable small business ideas in Nigeria.

5. Fashion Accessories

Starting a fashion accessories business is a great small-scale business idea in Nigeria.

Fashion accessories are part of our daily needs at places like work, church, events, ceremonies, and even hangouts. These fashion accessories can range from bags, belts, tank tops, crop tops, shoes, sneakers, and the like. But how can you make this profitable? I’ll help you understand better.

Selling these products online or in a physical store will require only your strategic marketing to reach customers who are in need of these items. Simple as it sounds.

6. Beauty Accessories

Beauty accessories are another one of the small business ideas in Nigeria.

Selling beauty accessories such as nails, lashes, wigs, makeup kits, lash extensions, hair dryers, moisturisers, and other beauty kits. These products are in high demand among ladies in Nigeria.

This is a very lucrative small business idea for women in Nigeria. In fact, there are tonnes of ladies already making money from this business idea in the hemisphere of Nigeria.

7. Vocational Training

Vocational training is also one of the lucrative small business ideas in Nigeria.

Vocational training involves training or teaching people different skills like tailoring, tie-and-dye, hairdressing, cooking, crocheting, shoemaking, barbing, and so on.

How is vocational training a profitable small business idea in Nigeria? I’ll answer that. There are people looking to learn and acquire these skills. Hence, you can set up a vocational programme or centre and teach different skills to people willing to pay and learn.

8. Wallpaper Production

Wallpaper production is also another small business idea in Nigeria. You want to know how? Keep reading with me.

Wallpaper production is widely needed in Nigeria. Lots of apartments, homes, studios, warehouses, and other facilities need wallpapers for decoration.

Producing 3D wallpapers and also installing these wallpapers is a very lucrative small business idea in Nigeria, with the demand for these wallpapers rising every year.

9. Egg Supply Business

The egg supply business can never be counted out as one of the most lucrative small business ideas in Nigeria.

If you don’t have the capital to start up poultry farming, then you can venture into a smaller part of poultry farming, which is the egg supply business.

How does this work? The egg supply business will require you to partner with either a poultry farm or you own your own poultry farm to get eggs wholesale at discounted prices and sell them to people at your own prices.

10. Snacks Production

Another one of the small business ideas in Nigeria is snack production.

Are you good at producing snacks like meat pies, fish pies, doughnuts, egg rolls, and other types of snacks? Then this is a very lucrative small business idea for you.

This is also one of the small business ideas for students in Nigeria. You can either sell your snacks in school or in crowded areas, or you can create a brand for yourself and sell them online as an online business in Nigeria.

11. Plantain Chips Production

If you’re looking for small-scale business ideas in Nigeria, plantain chip production is one.

This is the production of large-quality plantain chips. You can be the wholesale distributor of plantains by producing a very large quantity with proper branding and packaging, which you then sell to retailers in small quantities.

12. Shawarma Stand Business

Shawarma stand business is another one of the small business ideas in Nigeria.

Is shawarma business profitable? Imagine establishing a shawarma stand in a school vicinity or area, or in an area occupied by both workers and students. Therefore, if you’re good at making tasty shawarma, you can rent a space and create a shawarma stand to sell to people.

If you’re looking for small business ideas for students in Nigeria, then shawarma stand business is also a good business idea to put into consideration.

13. Private Coaching

When looking for a small business idea in Nigeria, private coaching is also one of the small business ideas. Private coaching means one-on-one teaching with trainees who need to learn one or two things from you to be great.

These days, parents and mentors are looking for private coaching courses and services. Hence, organising a private coaching session in Nigeria can be a very lucrative small business idea.

14. Computer Training Center

A computer training centre is also one of the small business ideas in Nigeria that entrepreneurs should consider.

There are tonnes of students, graduates, employees, bloggers, and developers that don’t have access to a personal computer, and they are willing to pay to either learn computing skills or make use of computers in centres.

Establishing a computer training centre to teach computing skills and also give rooms to those who need access to personal computers at an affordable rate is a lucrative small business idea in Nigeria.

15. Gaming Center

A gaming centre is also one of the most profitable small business ideas in Nigeria.

If you have the capital and capacity to establish a gaming centre for gamers and lovers of games, then this is a great small business idea.

The question is, How is a gaming centre profitable? It is important to know that there are a lot of people in Nigeria who are interested in games like FIFA, PES, CODM, and other types of games. People are willing to pay in order to have access to games in their leisure time, and this is a great small business idea in Nigeria.

Other Small Scale Business Ideas in Nigeria

POS Business
Small fish farming business
Cooking gas business
Mini importation
Foodstuffs retailing
Remote home cleaning business
Baking and catering
Blogging
Unisex salon
Phone accessories business
Phone charging business
Online tutoring

BOTTOM LINE

Raising the capital for a small business in Nigeria might be difficult, but starting one shouldn’t be. Hence, this led to the context of this article, which is to help entrepreneurs find the most profitable small business ideas in Nigeria.

There’s an underlying reason to do deep market research on each of the small-scale business ideas in Nigeria highlighted in this article to help you foresee the way forward. I wish you luck in your journey to establishing a small business in Nigeria.