Business in Nigeria: 20 Most profitable Ones That Makes More Money (2022)

Think of starting a business in Nigeria then you should think of the profitable ones.

If you are starting a business in Nigeria, you need to do research about your market size, your competitors, feasibility study and writing a business plan.

Many people start a business in Nigeria and the next thing you will hear is that the business is declaring dead.

Before I even talk about this most profitable business in the nation, let me ask you a question.

Are you planning to run a one-man business (sole proprietorship) or a corporate business (LLL, Inc or non-profit)?

Let this question runs in your mind as you read this article till the end.

List of The 20 Most profitable Business in Nigeria

We are looking at the 20 most profitable business in Nigeria.

Now, let me start counting.

1. Agriculture

Business in Nigeria: 20 Most profitable Ones That Makes More Money (1)

Many Nigerian have benefited enough from this industry.

The agriculture industry is generating a lot of money every day because we have no reason to stop eating.

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If you would like to start and agribusiness then you should look at the particular agribusiness that suits you.

(Video) 5 Most Profitable Business Ideas To Start In Nigeria In 2022 | Make N500,000 monthly

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Some of the best agribusiness in Nigeria are Canava production, Plantation of Fruit, Rice, Plantain, banana, and lot more.

Don’t try to specialize in all these aspects when you are starting an agriculture business. Just focus on one area and be best known.

2. Property Renting

Business in Nigeria: 20 Most profitable Ones That Makes More Money (6)

Everybody needs a home to live as well as an office space in the best business location.

If you have the money that can acquire your land then you can also think of utilizing the land.

Many people in Nigeria buy land and sell it later to make a lot of profit while other people build to rent it out.

If you own a property and rent it out, you should b sure of making a profit within 3 years.

Property is a life-time investment and demand for it is ever ended.

Even as an estate agent or estate manager, you will be making a lot of profit with other people’s property.

3. Hotel Business

Business in Nigeria: 20 Most profitable Ones That Makes More Money (7)

Hotel is a very profitable business in Nigeria that can make you millions of Naira with 6 months depending on the location.

Many people in Nigeria enjoy spending time in the hotel either to work or to hang out with the opposite s*x.

This has made many Nigerians thousands of naira in a day from is mostly called “Short time”.

A “Short time” of one hour in a hotel can be charge between N2,000 to N10,000.

While other people pay between N5,000 to 700,000 for a Night.

The charged price of a hotel room actually depends on your location.

So ask about what other hotel businesses in your same location are charging before you fix your own price.

To start a hotel business, you can build 10 suites to see how the business grows and expand it in the future.

4. Oil and Gas

Business in Nigeria: 20 Most profitable Ones That Makes More Money (8)

The nation is well blessed with crude oil which has made then the highest oil production in Africa.

A typical sell of Kerosine or Diesel on a roadside is a very profitable business in Nigeria.

You can start selling just Kerosine, or Diesel, or petrol on the roadside or at night and see how your profit grow.

Or either combine all in making a huge profit.

If your money is enough then building a filling station can boost your finance.

5. Transportation

Business in Nigeria: 20 Most profitable Ones That Makes More Money (9)

Transportation business in Nigeria is one of the untrapped business ideas in the nation.

If you are looking forward to making an extra income then you can consider this business.

A typical Nigerian loves traveling either for business, visit or tourism.

Many Company has utilized this opportunity like Uber Taxi and Bolt.

Especially in December (Christmas period), there is always a high demand for transport vehicles and many people travel to their hometown during this period.

Even a common Tricycles are making a huge amount of money in a day, Ask one.

6. Poultry Farm

Business in Nigeria: 20 Most profitable Ones That Makes More Money (10)

Poultry farming is one of the profitable business in Nigeria that is making an average Nigerian rich overnight.

It is worthwhile to such an extent that even foreigners are investing in poultry farming business in Nigeria.

(Video) 30 BUSINESS IDEAS YOU CAN START IN NIGERIA WITH N50,000 in 2022

What’s more, why not, In a nation of in excess of 190 million individuals, what might you anticipate?

However, you can begin with just 1,000 birds of either chicken or turkey. buy them feeds and medication.

If proper care is taken, within 8 weeks, you can start making a huge profit with your investment.

7. School

Business in Nigeria: 20 Most profitable Ones That Makes More Money (11)

Every family in Nigeria want to provide their kids with a good and standard education.

In Nigeria, education is one of the most profitable business even as much as they are.

What they need is standard education at a low price.

If you are thinking of starting a school in Nigeria, you should also think of the value and fees.

You can start with a small from baby care, and develop to Nursery and primary in the future.

8. Microfinance Bank

Business in Nigeria: 20 Most profitable Ones That Makes More Money (12)

Microfinance bank is a business-to-business profit (B2B) industry.

However, many entrepreneurs need a loan to start their business while others need a loan to expand their business.

Recently, Lapo microfinance bank has reported disbursing of 90 Billion Nairas in just 8 months.

Now think of it, how much is their profit from the interest if we consider at 20 percent? That will be a huge amount of money.

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Thou they are a risk of operating this kind of business, but if proper documentation of prospect customers are carry-out, then you can excel with it.

Many companies like a branch.co and Carbon (formally Paylater) utilize the mobile app in the lending loan process.

This gives them access to your detail, such as SMS, contacts, BVN, and other bank details.

9. Pure-water Production

Business in Nigeria: 20 Most profitable Ones That Makes More Money (13)

Pure-water production in the country is increasing every day as it is highly demandable.

Thou there are many companies operating such businesses in the country but if you have better knowledge, then it might be your best money bank.

Pure-water Production needs more investment in running a successful and profitable business.

This investment has to do with capital and workforce.

If you provide a proper and hygiene product then you will excel in the market.

10. Restaurant/Eatery

Business in Nigeria: 20 Most profitable Ones That Makes More Money (14)

Nigerian loves enjoyment even when they are foods in the house.

Mostly, single people will utilize the opportunity of eating in the restaurant or eatery because they might not be able to prepare the food.

Some people might know how to prepare the food but they are no time based on their work schedule.

You can start this kind of business by the roadside or rent a shop or even build your own depending on your level and target audience.

11. Investing in the Internet Business

Business in Nigeria: 20 Most profitable Ones That Makes More Money (15)

Many individuals make a huge amount of money as the internet industry is increasing in the country.

Many people who have the skill of starting an internet company needs fund to scale it.

Such a business might be providing a solution to the industry problem, mobile app, websites, and any other things.

What you will need to do is, just keep your eye on a new startup tech company, see their potential and invest your money into it.

(Video) Small scale lucrative popcorn business in Nigeria

Within a few years, the startup company will be making you millions of Naira in a year.

12. Laundry and Drycleaning

Business in Nigeria: 20 Most profitable Ones That Makes More Money (16)

Many people in the country are utilizing this laundry and drycleaning business it requires a little investment.

Everybody wear cloth to difference occasion or normal outing, but not everyone loves the process of making those clothes clean.

Most people might want to do it by themselves but no time because of work schedules.

These are where the laundry man comes in.

To start this Business in Nigeria, you are only required to know how to handle cloth, basically and professionally.

You can start this business with as low as N20k from home and expand it to acquiring a shop in the future.

You will need a bucket, water, detergents, starch, stain removal, iron, ironing table, robe, and space.

13. Importation

Business in Nigeria: 20 Most profitable Ones That Makes More Money (17)

Many people are not utilizing this business in Nigeria but the profit is massive.

You can start importing some stuff like used cars, Laptops, clothes, shoes, and sale it in the country.

Many individuals are importing used cars from the US, Canada, and Germany into Nigeria.

The problem with this kind of business is that is at risk but the profit for one sale can be between N100,000 to N1,000,000.

For the clothes and shoes, you can see that many people are always ready for tukunbo cloth (popularly known as OK or Okrika).

Not everyone can afford to purchase clothes from the boutiques, based on the high price

You can make 100% profits with the kind of business depending on your market, price and your ability of packaging.

14. Fashion Design

Business in Nigeria: 20 Most profitable Ones That Makes More Money (18)

Fashion design is another profitable business in Nigeria.

As Nigeria remain the biggest African country, we love utilizing African materials.

These materials are actually sewed by the fashion designers to customers’ required styles and specifications.

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Many fashion designers can charge between N2k to even N200k for sewing only one cloth and you can start this kind of business in Nigeria without knowing how to sew.

However, you can employ the service of a trained fashion designer and pay them monthly.

This kind of business in Nigeria will turn you a boss within a few days.

15. Vlogging

Business in Nigeria: 20 Most profitable Ones That Makes More Money (19)

The name might sound very strange to some people.

A vlogging is a person who manages a vlog(youtube channel), the person creates video content instead of writing content (blogging).

The person can also be called YouTubers.

If you have been using Youtube to watch videos like Movie, Comedy, Help or learn new skills then understand that those people that upload that video contents are making thousands of dollars every month.

In Nigeria, Vlogging is one of the untapped business in the country.

Many people are not utilizing it at the same time is less competitive than other business in Nigeria.

However, to start a YouTube Channel, you will need a good camera, a computer system, and a microphone.

YouTube also expert you have at least 1,000 subscribers and 4,000 watch hour within 1 year.

(Video) EASY BUSINESS TO START IN NIGERIA WITH #10,000 | COOL PROFIT OF 50K MONTHLY

This is a very profitable business that can make you rich overnight.

16. Digital Marketing Agency

Business in Nigeria: 20 Most profitable Ones That Makes More Money (20)

A digital marketing agency is one of the fastest-growing industries in Nigeria.

Many businesses need more customers and online advertising can help grow that business.

If you want to start a digital marketing agency in Nigeria, you will need to become a professional in that field.

Digital marketing comprises many other subcategories like Social media management, Search engine specialist, Affiliate marketing, paid advertising and many others.

If you want to utilize the opportunity of starting a digital marketing agency in Nigeria, you first need to acquire the skill and that is it.

17. Blogging

Business in Nigeria: 20 Most profitable Ones That Makes More Money (21)

Properly you might be hearing this all around the corner, am a blogger! AdSense don pay! and so on.

This Business in Nigeria has made Nigerian rich overnight.

Many people might say this is a business for young people but blogging is not about age.

Blogging is one of the profitable businesses in Nigeria and that is what I will do for my lifetime.

To start a blog, you will need to learn some basic things about it. This business can make anything within N30k to N1m or more in a month.

With just N10k you can start your own blog if you own a Laptop and have the necessary skills.

18. Stationery Store

Business in Nigeria: 20 Most profitable Ones That Makes More Money (22)

Stationery store is a profitable business in Nigeria especially if it is close to the school premises.

As many Nigerians need better and standard education, people also need good books and materials to accomplish that.

Nigerian has over 190 million citizens and many of this population pass through different educational systems.

School is not the only place stationery store can excel, even in a well-developed area where offices are many.

There will eventually need paper, pens, or a stepping machine. You can start this business with a small capital or make it a bigger business by expanding to even sell used books.

19. Professional Car Wash

Business in Nigeria: 20 Most profitable Ones That Makes More Money (23)

Car wash is a very profitable business in Nigeria that the demanding is very high.

Many car owners can’t wash their car, this might be because of time or they might feel too big to handle such a task even they own it.

Depending on the business location, you can make a good ton of money with this business.

You can start this business by visiting people home and explain your job or open a car wash place in a very strategic location.

20. Fruit-Salad

Business in Nigeria: 20 Most profitable Ones That Makes More Money (24)

Fruit salad is a very profitable business in Nigeria.

This is a new emerging business in the country due to the high level of demands.

Many people eat fruit for weight loss or to stay healthy than their actual age.

If you know how to do a fruit salad then you can start this business, visit offices, high populated places and sell it.

You can also sell normal fruit not only till you make it a salad on the roadside or to people at their residence.

Which business is the best in Nigeria?

  • Agriculture
  • Property renting
  • Hotel Business
  • Oil and Gas
  • Transportation
  • Poultry Fram
  • Microfinance Bank
  • School
  • Restaurant/Eatery
  • Investing in Internet Startup

This doesn’t mean that other businesses are not best, but the only difference is that the profit varies differently and it requires a high investment.

What business can I start with 200k?

  • Vlogging (YouTube Channel)
  • Blogging
  • Digital Marketing Agency
  • Laundry/Drycleaning business
  • Resturant
  • Fruit Salad
  • Car Wash
  • Selling of Okrika Clothes
  • Stationery Store
  • Hair Salon (Unisex)
  • Fashion design Store

Some of the businesses listed here can even kick-start with a small capital of 10k.

Hope you find this article helpful. Do let me know which of this business you will love to start by commenting below.

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Tags: businessmoneynigeriaonline business

FAQs

Which business is best for earning more money? ›

What is the best business to earn money?
  • Help others with snow plowing.
  • Cleaning services for clients and businesses.
  • Become a personal chef.
  • Start an event DJ business.
  • Get into healthcare consultancy.
  • Start an employee recruitment service.
  • Create a real estate brokerage firm.
  • Become an expert at agribusiness.

What are the top 5 most profitable businesses? ›

Most Profitable Business Ideas
  1. Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...
  2. IT Support, Technology Consulting, and Repair. ...
  3. Cleaning Services. ...
  4. Accounting and Tax Preparation. ...
  5. Auto Repair. ...
  6. Real Estate.

Which business can I start with 10k? ›

The Best Businesses to Start With 10k
  • A Small Nest Egg Can Create Big Opportunities. Maybe you've been faithfully working your 9-to-5 job, and you've got some money in the bank. ...
  • Import/Export Business. ...
  • Online Store. ...
  • Framing Business. ...
  • Senior Care Business. ...
  • Hauling Service. ...
  • Home Staging Business. ...
  • Window Treatment Business.

How can I become rich fast in Nigeria? ›

Let's look at some of the invaluable pointers that makes one a millionaire.
  1. Learn To Save Money. It is perhaps the most crucial aspect of becoming rich. ...
  2. Invest Your Savings. ...
  3. Work In Between A Job. ...
  4. Become An Entrepreneur. ...
  5. Prepare Action Plan. ...
  6. Build Your Character. ...
  7. Take Risks. ...
  8. Summary – Becoming A Millionaire.

What business move fast in Nigeria? ›

Oil and Gas Businesses

It is such a global product, so it is not surprising that it makes the list of fast-moving businesses in Nigeria. Oil and gas top the list of most lucrative businesses in Nigeria and will still dominate for years to come. On the domestic level, households depend on gas or kerosene to cook.

What are the 10 business ideas? ›

Best Small Business Ideas
  • Handyman. Image Source. ...
  • Woodworker. ...
  • Online Dating Consultant. ...
  • Sewing and Alteration Specialist. ...
  • Freelance Developer. ...
  • Personal Trainer. ...
  • Freelance Graphic Designer. ...
  • Life/ Career Coach.
5 days ago

What can I sell to make quick money? ›

What Can You Sell to Make Money Fast?
  1. Old clothes. If you're looking for things to sell to make quick cash, your clothes just might top the list. ...
  2. Sneakers. Have some cool sneakers you want to get rid of? ...
  3. Jewelry. ...
  4. Watches. ...
  5. Your wedding dress. ...
  6. Baby items. ...
  7. Home décor items. ...
  8. Holiday decorations.
8 Sept 2022

What are 10 small businesses? ›

Top 10 Startup and Small Business Ideas to Try in 2022
  • Cleaning service. Consider starting a cleaning business if you don't mind doing the dirty work others cannot do for themselves. ...
  • Freelance Writing Business. ...
  • Amazon Kindle Publishing. ...
  • Daycare. ...
  • Pet Grooming. ...
  • Aerial Photography. ...
  • Build and Sell Themes Online. ...
  • Blogging.
15 Oct 2022

What are the most successful small business? ›

Most profitable small businesses
  1. Food trucks. ...
  2. Car wash services. ...
  3. Auto repair. ...
  4. Personal trainers. ...
  5. Newborn and post-pregnancy services.
3 May 2022

What business gives daily income in Nigeria? ›

Food Business

Food is one business you can start with any amount, especially with an amount as low as 50k. N50,000 is good enough to start a business in Nigeria. Food such as snacks, fast food, etc., can be ordered from you via your social media page, your Whatsapp, or even a dedicated sales website.

What business can I do with 20k? ›

With N20,000, you can start a thrift business. All you have to do is research the best market to get affordable, good-quality clothes to resell. The popular markets in Lagos to buy clothes from are Yaba market, Balogun market, Oshodi market, Aswani market, Katanga Market, and so on.

What you must do to become rich in 2022? ›

Becoming rich is an ambitious goal, and here are simple ways to get there.
  1. Invest in yourself. Investing in yourself is your first step on how to get rich. ...
  2. Avoid debt. ...
  3. Eliminate living expenses. ...
  4. Develop property. ...
  5. Save money for retirement. ...
  6. Start your own business. ...
  7. Start a side hustle. ...
  8. Build a portfolio of stocks and shares.
3 Aug 2022

How can a teen get rich in Nigeria? ›

How to Make Money in Nigeria as A Teenager
  1. Start A Niche Blog.
  2. Become an Apprentice.
  3. Learn Tailoring.
  4. Start A YouTube Channel.
  5. Start Farming.
  6. Learn Photography.
  7. Get Scholarships.
  8. Become A Social Media Influencer.
1 Aug 2022

What products are in high demand right now in Nigeria? ›

But among the list of consumer items with the highest demand in the Nigerian market, apparel, footwear, and accessories will undoubtedly always rank highly. 2. Hair Wigs and Extensions: Many women have grown to adore wearing wigs and hair extensions. They often use and recycle them.

Which business is growing fast? ›

RankCompany NameNet Profit growth(%)
1Sulzer India163.4
2Oil Country Tubular212.7
3Tata Sponge Iron159.8
4Zydus Wellness166.9
65 more rows

What can I produce in Nigeria to make money? ›

In this article, we will be looking at 10 businesses you can start in Nigeria with as little as N100,000 which guarantees 100% return on investment in 30 days or less.
...
  • POS/E-PAYMENT. ...
  • Phones and other gadgets charging. ...
  • Mobile food vendor and delivery business. ...
  • Copywriting. ...
  • Graphic design. ...
  • Selling of clothes. ...
  • Laundry business.
12 Sept 2022

What business gives daily income in Nigeria? ›

Food Business

Food is one business you can start with any amount, especially with an amount as low as 50k. N50,000 is good enough to start a business in Nigeria. Food such as snacks, fast food, etc., can be ordered from you via your social media page, your Whatsapp, or even a dedicated sales website.

What can I sell in Nigeria to make money? ›

Here is a list of what to sell in Nigeria to make money:
  • Selling Books. ...
  • Selling IT Stuff in Nigeria. ...
  • Sell Fashion Clothes. ...
  • Sell Handmade stuff like crafts, paintings… ...
  • Car rental services. ...
  • Sell furniture. ...
  • Cars and car accessories. ...
  • Food and groceries.
13 Oct 2021

What business can I do with 2 million naira in Nigeria? ›

There are many business opportunities in Nigeria that can be started with a capital of 2 million naira. You can start an online business, a restaurant, a beauty salon and many more. The beauty industry is one of the most profitable industries in Nigeria and it has high potential for growth.

What can I do for daily income? ›

Let's look at businesses in Nigeria with daily income and how to kick-start them.
  1. Car Wash Business. ...
  2. Barbing Salon. ...
  3. Real Estate Agent. ...
  4. Laundry and dry cleaning services. ...
  5. Restaurant and Fast food Business. ...
  6. Transportation Business. ...
  7. POS Payments Service. ...
  8. Foodstuff Business.
30 Sept 2022

What should I invest 100k in Nigeria? ›

  • POS/E-PAYMENT. POS (point of sales) tops the list of business ideas in Nigeria you can start with 100,000 naira for obvious reasons. ...
  • Phones and other gadgets charging. ...
  • Mobile food vendor and delivery business. ...
  • Copywriting. ...
  • Graphic design. ...
  • Selling of clothes. ...
  • Laundry business. ...
  • Shawarma selling business.
12 Sept 2022

What can I do with 50k in Nigeria? ›

Small scale farming

This is the most common business that can be started with 50,000 NGN in Nigeria. You can start small scale farming by buying seeds and planting them on your farm. You can also buy animals such as poultry and sell their eggs or meat to make money.

What do Nigerians buy most? ›

But among the list of consumer items with the highest demand in the Nigerian market, apparel, footwear, and accessories will undoubtedly always rank highly. 2. Hair Wigs and Extensions: Many women have grown to adore wearing wigs and hair extensions. They often use and recycle them.

What people buy most in Nigeria? ›

List of Best Selling Products In Nigeria.
  • Electronic Goods.
  • Fashion Items.
  • Cosmetic Product.
  • Health and Wellness Products.
  • Hair Wig and Extensions.
  • Baby Accessories.
  • Food and Groceries.
  • Phones and Accessories.
14 Jan 2022

What is most needed in Nigeria? ›

What Skills Are In High Demand in Nigeria?
  • Languages. ...
  • Creative Design. ...
  • Banking/High Finance. ...
  • Business Management. ...
  • Medicine/Nursing. ...
  • Marketing. ...
  • Customer Service. ...
  • Software Development.

Which business can I start with 500k? ›

In this piece, you will find 10 Businesses You Can Start with 500k in Nigeria.
  • Mini Importation Business. ...
  • Sales of Clothes and Shoes. ...
  • Barbing Saloon Business. ...
  • Football Viewing Center/Game Center. ...
  • Hair Dressing. ...
  • Real Estate Business. ...
  • Block Moulding Business. ...
  • Computer Service Center.

What business can I start with 10m in Nigeria? ›

You can start an online business, a restaurant, a beauty salon and many more. The beauty industry is one of the most profitable industries in Nigeria and it has high potential for growth. Beauty salons are also very popular because they provide services to both men and women.

What business can I start with 5k as a student? ›

This article lists sixteen businesses you can start with 5k as a student in Nigeria.
  • Make money online. ...
  • Maintaining and repairing mobile devices. ...
  • Home-based children's nursery. ...
  • Mushroom cultivation at home. ...
  • Translation services. ...
  • Home maintenance. ...
  • Ebook. ...
  • Offering residential and commercial façade cleaning services.
2 Sept 2022

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