Here comes the big list of hot business ideas in Nigeria that are still profitable even as of today.
The businesses listed here are unique, creative, and among the cheapest to start in the country
Below are some reasons why you may want to choose from this list of entrepreneurship ideas:
- More money to your pocket
- Experiences to your resume
- Better control of your life
- Work from home if you want.
There may even be more.
Most of the business ideas listed here require low capital to start.
Also, I have included links to helpful resources from fellow entrepreneurs you can learn from.
Let’s start with the hot list of the best business ideas for Nigerians.
Perfect if you have an ICAN or ACCA certificates
All business needs accounting and auditing services because of their everyday transactions.
As cost rises, companies want to audit their account to find errors in their expenses.
And so they are in search of a reputable accountant and/or auditor.
To gain your first big clients, you need to show what makes you better than your fellow accountant.
And how well you can help clients improve their finance, so they focus on other things.
To succeed with this hot business idea in Nigeria, I advise:
- Be specific and focus on the type of clients you want to work with.
- Decide early if you want to work on personal finance or small business tax and payroll planning.
- Aside from your formal education, learn human and sales skills.
- Show testimonials from previous clients in videos on your website.
This is one of the biggest business ideas in Nigeria, and not for a novice.
With more businesses wanting more visibility, the need for ad agencies increases.
You have seen those ad spots (Big banner and TV screens) by the roadside. Those are works of an advertising agency.
The ad agency idea is a profitable business if you have the experience it requires.
What will set you apart in this type of business is your creativity and ad spot location.
To increase your chance of success with the ad agency business ideas:
- Have a good understanding of your clients’ business and their message styles.
- Be creative with your design, that you could pass a message with only pictures.
- Offer graphics, photoshopping, and video editing as extra services.
- Hire the service of a good copywriter to craft persuasive headlines and ad copy.
Everyone has a book in them, they wish to write someday.
Your work is to turn people’s dreams into reality by helping them publish their books.
Your service may also include transcribing those words to audio formats.
Or translating to an unfamiliar language in total.
Because you publish books, do not mean you can’t produce eBooks as well.
To be successful with book publishing:
- Design a website where you blog about writing.
- Promote yourself and reach more customers online using digital marketing services.
- Partner with top publishers abroad to print their books in local languages.
With this idea, you profit from businesses without owning any.
If you ask me, “AY, what is the work of a business broker?”
I will answer, “To match clients who want to sell their businesses with others who want to buy.”
An investor believes it is much easier to profit from an existing business than starting a new one.
So, they hunt for succeeding businesses to buy. Hence, the need for a business broker.
To make this hot business idea successful:
- You need listening skills and the ability to negotiate to victory.
- You may choose to work with the seller or the buyer. Sometimes, both if you can.
- Do a good knowledge background of the business and get the necessary legal documents.
- Attend business events and network with business owners.
Business Plan Writing
A business idea you can start working a full-time job.
The number of startups in Nigeria is increasing day by day.
And whether they like it or not, owners will come to need a business plan someday, for reasons below:
- To document structures and goals of the business and the role of everyone in the team
- To win investors’ interest in the current and future profitability of the business.
Yesterday, I received an email from someone needing a business plan.
We spoke on the phone and close the deal in 15 minutes with great pay.
This idea is a profitable one if you have the passion to help small businesses win grants and get funds.
How do you make the business plan writing idea profitable?
- You need high persuasive writing skills to win investors with words.
- Ask clients to refer you to their fellow entrepreneurs.
- Keep your works with previous clients, you will need them for reference someday.
- It’s best as a side business, so get something else to do as an addition.
Among the list of untapped and uncommon business ideas in Nigeria
Career coaching is today hot because of the many persons needing help in this area of their life.
As a career counsellor, don’t think your work stops at helping people choose what career option is best for them.
You will also be helping your clients deal with work challenges he/she will be facing with employers.
Also, you can also offer CV and resume services and even charge to help candidates apply for jobs.
Your biggest advantage is that the economic downturn doesn’t affect you.
Because the more people lose their jobs, the more they will need you.
To succeed with the career consulting idea:
- Work on your focus level, as most clients you will be working with lacks clarity on what is best for them.
- Verify if a candidate is an ideal one via email, then phone before meeting one or one.
- Partner with recruitments agencies and private companies to better expand your reach.
A small business idea presenting opportunities to meet important people in Nigeria.
Do you know how to cook well? I mean the finger-licking kind of food.
Almost all caterers I know operate this idea as a side business, working from home.
Instead of waiting for people booking you for events, you can deliver lunches for offices.
With time, the manager may ask you to cook for their next regional meetings.
And some staff members will even book you for their church and personal events.
Also, you can enrol students who pay you to teach them how to cook certain food.
Or sell courses of your videos showing how to cook a particular food.
How do you make the catering service business successful?
- Show yourself to be neat at all times.
- You must be ready to work, sometimes late into the night, so you can deliver early the next morning.
- Buying ingredients in surplus saves you from the market fluctuation of prices.
The business of making money for making places clean.
Most people are busy today that they don’t have the time to put their rooms and surroundings in place.
Either in private homes or offices, there will always be a need for a cleaning service.
It is one of the best small business ideas in Nigeria, you can start with low capital.
You finish cleaning a particular house, you move to the other.
Now, it is not compulsory you must be the one doing the cleaning.
For me, I prefer the cleaning service to a full-time house help.
How do you become successful with the cleaning service idea:
- Make your employee happy and care for their personal being as you care for your clients.
- Let clients sign your cleaning service policy, so they don’t abuse your time and efforts.
- You can have employees and station them to different locations with rotations often.
Computer Training & Repair
A small business for the creatives
In today’s digital world, it becomes of necessity to have a computer.
If you don’t use it for business, you will for a school project or personal purpose.
This makes everyone your potential client for training or repairs.
As a tutor, you need a wide range of skills such as Microsoft Office, Corel Draw, Photoshop, and more.
As a repairer, you need an excellent knowledge of both the hardware and software components of a computer.
- Communicate problems to your clients in non-techie words.
- An excellent presentations skills will set you apart in your training.
- Have training materials to avoid repeating the basics with every student.
One of the untapped small business ideas in Nigeria
There are many self-help guides out there on the web.
But none can replace the feelings of having someone to talk to.
People want to share the intimate part of their life with someone they can trust.
So you must be mature enough to handle matters of emotions.
This business is for you if you love to solve human problems.
How to succeed with the counselling business idea:
- Listen to clients’ problems enough to avoid all forms of assumptions.
- Be good with your time, so no clients waste your day on trivial issues.
- Respect the privacy of your clients by hiding their identities.
Courier Delivery Service
This business is getting common in major cities across Nigeria.
Want to deliver important documents to another state or city?
You need a courier service with a reliable transportation system to avoid delays.
Expert knowledge of this business will profit you in a quick time.
You can group few items together to deliver same time, which helps in saving costs.
- You need to be extra careful not to misplace documents, as most will be original.
- When you deliver the parcels, notify clients of your delivery.
Day Care / Nanny Services
One of the best business ideas for Nigerian ladies.
With more women choosing a career path, the daycare business has been growing fast.
You don’t have to deal with children alone, include adults.
The daycare service is one of the small business ideas you can start from home.
All you need is the state and federal approval of your business to avoid legal issues.
Often, you don’t have to carry out the service yourself.
You can hire people and send them to clients’ houses.
Expert advice on succeeding with this business:
- Have a love to be around the extreme ends of age–the little children and adults.
- Be friendly in-person and of moral character, so you win the trust of your clients.
- Do have a legal contract to avoid any unethical expectations from clients.
- Ask your clients to refer you to their fellow workers at the office.
Disc Jockey (DJ) Service
A business idea for entertainment lovers
There are no doubt live bands cost a lot more than DJ service.
Hence, many party owners prefer to hire DJs to handle the entertainment of their party.
DJs have been around playing as far back as the availability of playing equipment.
To start as a DJ, you need to have your speakers.
But if you don’t, you can always rent one when you have a show.
As a DJ, your best days are weekends, since this is when most events take place.
To succeed with the DJ business:
- Understand your audience and know their style of music.
- Have a wide selection of music from old school to the latest.
- Be in touch with key figures in the entertainment industry for show slots.
A lucrative business in Nigeria, you can start with 50K
If you can work with homeowners and small business owners, you are always in demand as an electrician.
The majority wants to have nothing to do with electricity; this makes your skill valuable.
Sometimes, you don’t have to wait for damage before someone calls you for repair.
You can meet to discuss potential damage to their current wiring and appliances.
To be successful as an electrician:
- You will need to be good at the cost of materials for a proper quotation.
- Work with builders to install wires in new houses.
- Meeting deadlines will help you earn your client’s trust.
Any event needs lots of planning to see it successful.
Be it big or small, corporate or casual, religious or circular.
It is your duty as an event planner to plan, organize resources and make supplies for events.
It is good you work for an events’ planner, so you understand the business.
To succeed with the event planning business:
- You need to partner with manufacturers to ensure you are getting the best deals in equipment.
- Invest in wonderful pictures of your events to show potential clients.
- Partner with photographers, caterers, and more to use for your events.
- You can also rent materials, but will be best you have yours.
If you seek business service ideas in Nigeria, go for this.
Financial consultants are in need, especially as people get closer to retirement.
Individuals want to know where they can spend their money for the largest return.
Your enormous concern will be investment companies that offer this service as an extra to their core.
To succeed in the financial consulting business:
- You need to inspire confidence in the heart of your clients.
- Be creative in helping people plan their money and achieve their financial goals.
- A blog where you write about finance is great.
This is one of the small business ideas on this list, you can do working at home
Your best bet will be to set yourself apart with content quality from people who charge much less.
As a freelance content writer, you work on projects for individuals, small businesses.
Sometimes, even top companies – no limitation.
And if you are a copywriter, you work with businesses on writing persuasive sales copy.
Also, a copywriter charges far better than a content writer.
Because they write to make customers perform an action–buy, sign up, and more.
To succeed with this business:
- You need excellent communication skills, especially listening.
- Your ability to write unique and creative copies that engage readers.
Another service business idea in Nigeria
While there seems a lot of competition in this field, your creativity will stand you out.
As a graphic designer, you can work for companies part-time.
Also, you can set up yourself as an independent designer.
Different companies need your service.
They include publishers, churches, small businesses, and more.
Also, you may decide to have your own studio where others work for you.
To succeed with graphic designing business:
- You need to have marketing knowledge to pitch your works to potential clients.
- Be able to communicate an idea with images and few words.
One of the lucrative business ideas for ladies in Nigeria
Are you a stay-at-home mom who needs something doing, then hairdressing is for you?
Hairstyling is one of the ancient’s small business ideas our ancestors started at home.
You can set yourself apart with your style of service.
Also, offer a home service for career women. These women will pay more for your time and transportation.
To succeed with the hairstyling business idea:
- Make your clients look their best to get referrals from them.
- Ensure you set up your own working hours and days.
- You can include add-ons services such as professional nail and makeup services.
Home Health Care Service
A business you can start and run working from home.
With many elders at home, there is a need for home health care services.
They need someone who will help in bathing, feeding, and walking around.
If you have experience in this field, congratulations.
To succeed with the home health care service:
- Hire others who do the job, while you take a pay cut.
- Be compassionate about the elders you are taking care of.
A service business idea in Nigeria with low investment
One of those ways is dealing with only businesses and not individuals.
To go deeper, you can niche down to a certain type of business.
Let us say, construction or electrical.
In this business, your approach is more important than your sales skills.
To succeed as an insurance agent:
- You need to offer dedicated service to your clients.
- Help potential clients see reasons they need your insurance service.
- Be ready to accept rejections on phones.
This is an uncommon business idea in Nigeria, with few people doing it.
As people rent houses, they will need to make them beautiful.
If you like creating your clients’ dreams in their homes, you can choose this small business idea.
As an interior designer, you will spend much in the early part of your business on marketing.
But once you have your first client base, they will keep calling for repeat work.
To succeed with interior designing business:
- You need to be current about the latest home fashions and accessories.
- Work with builders, contractors, and event planners for referrals.
A lucrative business to start with 500K in Nigeria
When you hear, small but mighty, it is jewelry.
People will spend thousands and millions of Naira to buy jewelry.
The jewelry-making business requires you to work using beads and precious stones.
If you are starting, you can go for training.
To succeed with this small business idea in Nigeria:
- Attend trade and open fair events.
- Promote your ready-made products on social media.
- Be available to make a custom design for clients who request them.
One of the daily income business ideas in Nigeria for students.
Starting a laundry business needs low or no capital.
All you need is soap, starch, and iron.
As time goes on, you can consider getting a washing machine.
In your marketing activities, target working men. They don’t have time to do laundry themselves.
Give out business cards to strangers.
You never can tell – they may call you to pick some clothes.
To succeed with the laundry business:
- You either love laundry or hate it.
- Accept the blame when customers complain.
- Ask existing customers to refer you to their friends.
Lawn Care Service
An untapped business in Nigeria
We love clean surroundings but find it hard a task to do.
This includes weeding, trimming, and leaf removing.
You can make money for yourself by selling this service to house owners and office occupants.
But you need basic equipment to get started. And as time goes on, you can get your own mower.
To succeed with the lawn care service,
- Take your time to finish cleaning before moving to the next.
- Scheduling to clean nearby houses saves you on transport and time.
- You can hire people to do the job, while you pay them per work completed.
A business idea unique to law graduates.
There is a high level of unemployment in the country for law graduates.
The best you can do with your degree is to start a business with it.
Set yourself, create your client base, charge your price, and head for success.
As an independent lawyer, people will need you in matters of negotiations and divorce.
And also in cases or real estate, people will need you.
After signing their agreements paper, they pay you 5% of the transaction fee.
To succeed with the business of law:
- Make friends with top profiles in your community, telling them what you do and how you can be of help.
- Get down payments before you begin work with a client.
A perfect home business idea in Nigeria.
Are you good at covering facial flaws? Do you know how to bring out the beauty on someone’s face?
If yes. Then, this business is good for you.
As a makeup artist, be ready to work on weekends.
You will attend your most events on Saturdays.
Your clients’ base (the people you work with) has no limit.
This ranges from brides to new moms to working class to college students.
Your understanding of types of faces is will set you as a professional.
To begin, as a makeup artist,
- You need some makeup kits.
- Be ready to offer home service.
- Seek to offer your service to groups rather than individuals.
A creative business in Nigeria for the smart few.
Marketing consulting is the second largest in the category of consulting after management.
Businesses want customers, so marketing becomes a must for them.
Small business owners will hire you to promote their brands.
To succeed with the marketing consulting business:
- You must be creative enough to create marketing copies that sell.
- Ensure you have a legal agreement with clients before you work.
- Plan and execute strategies that bring results.
One of the cheapest businesses to start in Nigeria.
Do you understand music and are ready to pass on your knowledge to beginners?
Then, you can become a music instructor, as you will have lots of students wanting to learn from you.
Your job is to teach the art of singing and playing of instruments.
You can increase your income selling and renting musical instruments to churches and your students.
Do you want to succeed in the music business?
- Promote your live recording on social media and ask friends to share.
- Play at church programs, public gatherings, birthdays, and more for visibility.
Online Marketing Specialist
No.1 on the list of all online business ideas in Nigeria.
Marketing is good, but online marketing is way far better.
Your duty involves promoting small businesses on the internet via an electronic device.
These electronic devices include smartphones, tablets and computers.
As an online marketer, your client expects you to deliver more than the conventional.
To succeed with the online marketing business, do this:
- Always stay updated about the marketing industry to keep learning.
- Have expert knowledge of how customers think and what makes them buy.
- Educate owners on the need for your service for their business.
- Get strategic methods to attract clients in a quick time.
Online retailing is also known as an eCommerce business.
If you don’t enjoy sitting at a place, then online retailing is best for you.
As an online retailer, you will need a fast website that fits all devices.
Also, make your website easy to navigate without stress.
If you need help to set up your online store, email me at [email protected]
To succeed with the eCommerce business idea in Nigeria:
- It’s best you focus on a niche and succeed with it first before expanding.
- Promote your products on social media and search engine advertising.
This business idea somehow comes with politics
Consider the personal assisting business if you have proper organizing skills.
A personal assistant needs the will to help busy people.
A lot of working professionals are looking for someone they can send on errands.
They need someone to remind them of their meetings and more.
This is a glorious business if you have high-paying clients.
If you want to succeed with the personal assistant business:
- Become good with goal setting and time management.
- Rest a lot to preserve your mental energy for good decision-making.
One of the uncommon business ideas in Nigeria
Pets like dogs and cats need training based on the job they are to perform.
While their owners can do some home training with their pets, those are on a basic level.
A pet trainer can help with specialized training for the exact owner’s purpose.
To succeed with the pet training business:
- Present your service to owners, helping them see why their pets need your training.
- Have a good relationship with vet doctors as they meet with potential clients often.
- Sell pets and their feeds as an add-on service to your clients.
One of the easiest but lucrative business ideas in Nigeria
No matter your camera quality, you always have this unexplained respect for cameras.
There is no other reason than they produce better output than phone cameras combine.
No, I am not talking about knowing how to press the shutter button. I mean trained skills.
One wonderful thing about this business idea is you can start without having your camera.
I have a friend, who as of 2019, rents a camera whenever he needs to work in events.
To let you know, photography is one of the profitable business ideas in Nigeria.
By 2021, he has built his own studio filled with all equipment you can ever think.
- Get or rent good cameras and laptops for editing. Knowledge of Photoshop is vital.
- Be active on social media and display your work often so potential clients tend to spot you.
- When you are not working, go into the street and snap creative random pictures to sell online.
How to Start with the List of Best Business Ideas in Nigeria
Validate Your Business Idea
One thing is to choose from the list of the best business ideas in Nigeria; another is to have an existing market for it.
Conducting market research before starting is very crucial to your business success.
Please, be sure you don’t become attached to any idea, so you can carry out proper vetting.
Write Down Your Plans and Goals
Get a business plan while you write down your goals.
The best business idea without actionable goals leads nowhere.
So, take your time to write:
- Why you want to start with this idea – very important.
- What problems do you want to solve and for whom?
- How you plan to achieve your business goals in the next 3 to 12 months.
Get Names for Business Ideas
You may discover there are two to three ideas you can combine.
Whether you choose only one or more than, you will need a business name to house these ideas.
The business name becomes the legal identity used to identify and summarize what you do.
But then remember, your business name is not yet legal until you register it with CAC.
If you need help registering your business, email me at [email protected]
My advice on choosing a business name:
- Avoid a keyword business name.
- Avoid a catchy or trending name.
- Check the availability of your name online before settling down with registration.
By production, I mean, to start, the core function of your business.
This could be buying materials to make products or creating and publishing content.
Don’t fall into the trap of getting busy and not getting productive.
If your vehicle (business idea) is taking you nowhere, come down (pivot) and take another.
Promote Your Business Online
Online marketing strategy increases your chance of success with any business idea.
But how do you reach new customers and get more sales with online marketing?
- Start with a Facebook group, then a page.
- Design a website educating your audience about the industry.
- Have a shop on the website where a visitor can order your products or services.
- Publish quality content that meets with users’ search intentions.
- Perform on-page and off-page SEO on your website to rank top in your local.
Do you need help with online marketing? Email me at [email protected]
FAQs on Best Business Ideas in Nigeria
What business can I start with 5K (5000) in Nigeria?
For capital of 5k, 10k, and 20k, you can start a laundry, cleaning, catering business, and more. Read this article to know more.
What businesses are in high demand in Nigeria?
High-demand businesses depend on the current trend in Nigeria. At a time it was POS, tomorrow can be something else.
What are the most successful small businesses in Nigeria?
Check around you, and you will see one small business doing well and making constant profits.
What is the best business to start in Nigeria?
I encourage you to read through this list of business ideas in Nigeria to choose which is best for you.
What is the cheapest business to start in Nigeria?
We have a lot of business you can start with low capital. And we have explained them in this article, so do well to read the list.
What business can I start with 500K?
An example of a business I will recommend you start is the cleaning service business. Read this article to know more.
What are examples of daily income business in Nigeria?
The POS is an example of small business ideas in Nigeria that produces daily income. Read this article to learn more.
What are some untapped and uncommon businesses in Nigeria?
Nigerians are yet to maximize the source of business opportunities in Nigeria. You can know more about these untapped and uncommon businesses when you read the article.
Majority of the best business ideas in Nigeria are untapped, and you can start with low capital.
If you desire entrepreneurship, consider choosing among the hot business ideas on this list.
Oluboba Ayodeji has helped top entrepreneurs in the country get massive business results than they expected. He has strong marketing strategies with a passion for public speaking.
Contact him via email at [email protected]