Best 45 Small Scale Business Ideas in Nigeria 2023
A lot of people want to start a business in Nigeria, but just a few have big startup capital. With that, people tend to look for small business ideas to start and make money.
There are lots of them out there, however, some are not as profitable as you would think. While talking about small business ideas, we’re talking about businesses that can be started with a small capital on a small scale to make the most money.
If you’re looking for one, then I’m glad to let you know that you’re on the right blog. In this article, we will show you some of the most lucrative small businesses in Nigeria that can be started by anyone regardless of your location.
List of Best 45 Small Scale Business Ideas in Nigeria 2023
1. POS Business
POS business is a very profitable small scale business in Nigeria. This business is popular across the country because it can be started with just a little money, and it is a source of daily income.
POS business involves completing basic banking transactions such as cash deposits, transfers, and withdrawals for people and charging a fee for your service. The business is very easy to start as all you need is to obtain a POS machine from a bank or fintech company, then start completing transactions and making money.
2. Small Scale Poultry Farming
Poultry farming is another business that can be started on a small scale in Nigeria. Although big poultries are commonly known for egg production in Nigeria, you can start by breeding a few broilers on a small scale and make money.
Starting this business on a small scale, you need a space in your backyard or a spare room that will serve as the chickens’ shelter, then get about 20 broilers, and the feed to get started. All these shouldn’t cost more than 50,000 Naira.
After starting, you just need to feed them for about 3 months, then sell them and keep your profits. Usually, a 3-month-old broiler can be sold for up to N8,000 in some parts of the country. Therefore, if all of the 20 chickens survive, you can make up to 110,000 in profits.
3. Foodstuff Business
Foodstuff business is one of the oldest and most popular small business ideas in Nigeria. You can start this business anywhere in Nigeria, as it deals with selling raw food items such as rice, garri, elubo, semo, beans, etc.
Foodstuff business doesn’t require any skill, and it can be started on a small budget. It is also a good source of daily income, as a day can’t go by without making sales. This business moves fast in any place, but you’ll make quick turnovers if your shop is sited on a typical Nigerian street or school area.
4. Recharge Card Business
We can’t talk about small scale business ideas in Nigeria without mentioning the recharge card business. This is because the business has been around for long and is one of the cheapest businesses to start in Nigeria. You can get started with as little as 1,000 Naira.
Recharge card business involves selling all kinds of call credits for all mobile networks. It can be started by anyone (even students), and it also goes well in combination with other businesses. That is if you already run another business (e.g POS, or foodstuff business), you can start a recharge card business on the side and make more money.
5. Mini Importation
Mini importation is an online/offline small scale business in Nigeria, that just hit the market a few years back. This business has been making people crazy amounts of money, starting with as little as 10,000 Naira or less.
Mini importation involves buying products for extremely cheap prices from China, shipping them to Nigeria, and selling them for a good profit. This business is very profitable as you can buy a trouser for N1000 from China and sell it for N3000 Naira in Nigeria.
Regardless of your location, you can start a mini importation business in Nigeria and make money. All you need to get started is a small capital, a smartphone or PC, and an internet connection, then you’re good to make money.
6. Blogging
Blogging is a very lucrative online small business idea in Nigeria, that could make you a millionaire within months. It involves sharing information such as news, guide, music, and so on, online, and making money through display ads, and/or affiliate marketing.
Blogging can be started by anybody regardless of location, or gender. To start, you just need about 5,000 Naira which you’ll use to buy a domain, and a hosting package to create your blog. Once this is done, you can start making money by posting content on your blog.
7. Dry Cleaning
Dry cleaning business is one of the most profitable small scale business ideas in Nigeria that can be started from home. This business is easy to start, profitable, highly scalable, and can make you money on a daily basis.
You can start a dry cleaning business in Nigeria with about any amount since not much equipment is needed to run the business. A laundry business can be started by anybody in any part of the country whether locally or using advanced equipment.
8. Car Wash Business
Car wash business is a good source of daily income that can be started on a small budget. This business is very easy to start and can be started anywhere in Nigeria.
Unlike before, the car wash business is becoming popular everyday and profitable in Nigeria, as car washes charge up to N3000 per car in some parts of the country. On a small scale, you can start this business either as a mobile car washer or have a shop for your business. Regardless, you can get started with about any amount.
9. Bead Jewelry Making
With as little as N1500, you can start a bead jewelry business in Nigeria where you make jewelry such as bead necklaces, bangles, earrings, and so on. This business is easy to start and it is a good small scale business in Nigeria for female students.
To start, you just need to acquire a bead-making skill, get the materials needed, and start making bead jewelry for sale. As a student, you can sell your beads to your schoolmates, lodge mates, and or neighbours. You can also sell bead jewelry online via social media or e-commerce stores like Jumia and Jiji.
10. Popcorn Business
Popcorn production and sales are one of the most profitable small business ideas in Nigeria that can be started by anybody in any part of the country. This business involves making popcorn, packaging, and selling them. You can have a shop for your business or sell in bulk to retailers, at events, schools, etc.
Although there’s a popcorn machine that makes the production aspect efficient, you can get started right from your kitchen by making popcorn the local way using a pot. This shouldn’t cost more than 20,000 Naira to start regardless of your location.
The popcorn business moves fast in many parts of the country and makes a lot of money on a daily basis. You can generate up to N10,000 daily in revenue selling popcorn in Nigeria.
11. Freelance Writing
If you’re looking for small business ideas in Nigeria that can be done as a side hustle, freelance writing is one of the best you should try. Freelance writing involves writing content such as blog posts, resumes, copywriting, etc., online and getting paid.
To start you just need a smartphone and a good internet connection. Then signup for freelance websites like Fiverr, Upwork, PeoplePerHour, etc., create your gig, and start getting orders.
Anybody can start this business, although it is ideal for students. You don’t need any money whatsoever to get started.
12. Sales of Perfume
Perfume business is another small scale business in Nigeria. This business involves selling all kinds of fragrances and body spray at retail prices to final consumers.
You can make a lot of money selling perfumes in Nigeria, as it comes with a high-profit margin. Perfume business can be started with somewhere around 20,000 Naira.
All you need to get started is to locate perfume wholesalers, buy from them and sell at retail prices to final consumers. Marketing a perfume is very easy as you can sell online or promote your business through word of mouth.
13. Phone Repair
Phone repair is one of the easiest and quickest skills to learn and make money in Nigeria. With a small capital, you can turn a phone repair skill into a money-making machine. This business can be started in any part of the country, as it is very easy to set up and operate.
14. Phone Accessories Business
Selling phone accessories is one of the most popular and highly profitable small business ideas in Nigeria. This business is very easy to start and regardless of your location, the demand for phone accessories is high in Nigeria.
You can start this business for less than 50,000 Naira, as the business setup is flexible. That means you can start with just a kiosk or wheelbarrow. One amazing thing about the phone accessories business is that it can be operated alongside other small scale businesses like phone charging, and recharge card businesses.
15. Provision Store Business
Another small business idea in Nigeria that makes money on a daily basis is the provision store business. This involves opening a small kiosk where you’ll be selling stuff such as pure water, soft drinks, snacks, bread, beverages, and so on.
You can start a provision anywhere in Nigeria. To start, you’ll need a small shop (e.g kiosk or container), then buy goods from wholesalers and sell to final consumers. Provision business moves fast in Nigeria, and is very easy to start and operate.
16. Phone Charging
Due to the poor power supply in most parts of the country, a lot of people find where to charge gadgets like phones, mp3 players, power banks, and so on, thereby making commercial charging business one to look into while seeking the best small business ideas in Nigeria.
Phone charging business is very easy to start as you just need a generator, a couple of extension boxes and charges, and also a shop to get it off the ground. All these don’t cost much, as the business makes you money daily.
17. Gaming Center
Opening a gaming center where people come to have fun playing different kinds of games including PES, San Andreas, and so on is another profitable small scale business in Nigeria that makes money daily.
This business can be started on a small budget, as all you need are TVs, and game consoles, to get started. Gaming business can be started in any part of the country, as there are always customers ready to play, especially during the holidays.
In most places, about 50 Naira is charged per game from both players, so there’s a lot of money to be made. On average, gaming shops make anywhere from N2,000 to N5,000 daily.
18. Affiliate marketing
Affiliate marketing is another lucrative online business that can be started by anyone in Nigeria, as all you need is a smartphone or PC, and an internet connection to make money. It is a form of internet marketing that involves referring people to products and getting paid a commission when they make a purchase.
Affiliate marketing requires little capital to start. In some cases, you can start affiliate marketing for free without spending a dime. This business can be done as a side hustle.
19. Small Chops Business
Small chops business is another lucrative small business idea in Nigeria. This business involves baking/frying fast food like puff puff, yam, potato, plantain, and so on, and is another daily income business that surely makes money every day. Regardless of your gender or location, you can start this business and make a lot of money.
20. Liquid Soap Production
Another small scale business that can be started from home in Nigeria is the liquid soap production business. A lot of Nigerians use liquid soap for dishwashing, so the product moves fast and can make you money every day.
To start this business, all you need to do is learn how to make liquid soap either by enrolling in an offline tutorial class, or online through YouTube and blogs. There is always a market for this business, as you can sell liquid soap to restaurants, and housewives.
21. Become a Delivery Guy
Also known as the dispatch rider business in Nigeria, you can make money delivering small items like cooked food, pizza, etc. This business is very easy to start as all you need is a bike, then find restaurants to work with.
Delivery business works well in places like Lagos, Abuja, and Port-Harcourt, although that doesn’t mean you can’t operate as a dispatch rider in other parts of the country.
22. Sell on Jumia and Jiji
A lot of people still don’t know what they can sell on Jumia. You can make a lot of money from home selling your products on Jumia and Jiji. This business is very profitable and doesn’t require any upfront payment to sell on those sites.
23. Web Design
Web design is one of the most lucrative online small business ideas in Nigeria right now. This is because a lot of small businesses want to go online and most of them need a web designer to help build a professional website.
You can start this business with about any amount, and it doesn’t require an office, as you can do everything right from home. To start, you’ll need to acquire web design skills, and have a smartphone or PC which you’ll use to create or manage websites.
24. Graphics Design
Graphics design is another online business that can be started on a small scale. This business involves creating all kinds of graphics designs such as logos, banners, social media posts, thumbnails, etc., and making money.
With just a smartphone or PC, you can start this business from anywhere in Nigeria. You just need to learn how to make designs online to get started.
25. Cook-on-demand
Cook-on-demand can also be referred to as a small scale restaurant business. Just as the name implies, cook-on-demand simply means cooking whenever you are asked.
This business involves taking a cooking order from customers and delivering their food to them once it’s ready. You can start a cook-on-demand business right from your kitchen. All you need to do is find customers whom you’ll render your service. Banks and big firms are good places to get customers for this business.
Once you have your customers, you’ll get calls whenever they need your service, then prepare their food and get it delivered by yourself or using a dispatch rider.
26. Start a YouTube Channel
If you’re seeking what online small business idea can I start without spending money, then YouTube is worth trying. Till now, a lot of people don’t know that their favorite Youtubers get paid a huge amount of money for every video they upload.
You can make a lot of money from YouTube and the business is very easy to start. All you just need is to make videos, post them on your channel, and start making money from ads when you meet the Adsense monetization requirements.
27. Start a Make-Up Studio
If you’re looking for small scale business ideas in Nigeria for women, acquiring make-up skill, and monetizing it is a good business you try. Whether for events or outings, a lot of ladies usually hire make-up artists to do their make-up for a fee.
This business is very easy to start, as all you need is to learn how to do make-up, get your make-up kit, and look for clients. Make-up business is highly scalable, as just one client could get you a lot more customers through recommendations if your service is great.
28. Frozen Food Business
Frozen food business is a very profitable, fast-moving, and untapped small business in Nigeria. This business involves selling frozen foods including turkey, chicken, fish, etc.
Sellers of frozen foods make a lot of money on a daily basis as there’s high demand for all kinds of frozen food mainly by restaurants and households.
29. Recycling Business
Recycling business is one of the most underrated small business ideas in Nigeria. This is because it involves going from one dump site to another picking up recyclables. However, the money you can make from this business is limitless.
You can start this business with about any amount, as in some cases, you don’t need to do the hard and irritating part of the business yourself. A lot of people make millions of naira from this business, so it is a good one to consider.
30. Fruit Business
Selling fruits is another lucrative small business in Nigeria. This business is perfect for those looking for daily income businesses, as the demand for fruits keeps increasing across the country.
As the name implies, the business involves selling all kinds of fruits including apples, oranges, papaya, watermelon, cucumber, and so on to make money. From selling raw fruits to processing and packaging them as fruit salad in a small container you can start this business in many ways.
You need to have access to the farmers’ market to start this business. Purchase different kinds of raw fruits, process them into fruit salad, and start selling. All this shouldn’t cost more than 50,000 Naira to start.
31. Juice Production
Making juice is another profitable small scale business in Nigeria. This business moves fast, and it makes money on a daily basis, although it requires a juice-making skill to get started.
The juice production business involves making juice such as zobo, orange juice, etc., then serving chilled, and making money. You can start this business in any part of the country.
There’s always demand for refreshing drinks, especially during the dry season in Nigeria, so driving sales isn’t an issue with this business.
32. Soft Drinks Business
Sales of some drinks is another lucrative small scale business to start in Nigeria and make a lot of money regardless of your location. This business involves selling all kinds of “minerals” such as Fanta, Pepsi, Coca-Cola, etc., both bottled and plastic.
Soft drinks are the most affordable refreshing drinks in Nigeria, so the demand for the products is high in all parts of the country. To start, you just need a kiosk, cooler, and icing equipment (freezer or ice blocks), then you can start selling and making money.
You just need less than 20,000 Naira to start this business on a small scale, and it can be operated in combination with the pure water retailing business.
33. Engine Oil Business
One of the most profitable small businesses that move really fast in Nigeria is the engine oil business. You can start an engine oil business both on a small scale and a large scale. That is regardless of the amount you have to start a business, the engine oil business can be started anywhere in the country.
34. Become a Driver
Becoming a driver simply means uber driving. Also known as uberpreneur, you can make a lot of money becoming an uber driver in Nigeria. This business is what has been making a lot of youths thousands of naira daily.
Just a car is what you need to start this business. You can become an uber driver during your free time. That is the business can be operated as a side hustle. You can make up to 500,000 Naira and more monthly driving people to their destinations.
35. Photography
Another skill-required profitable small business in Nigeria is the photography business. Photography skill is very easy to learn as it will just take you a few weeks to know everything about the job.
Once you acquire a photography skill, you can turn it into a money-making machine by opening a small scale photography studio, and/or attending events and take pictures for people. This business is very profitable and doesn’t require a lot of money to start.
36. Barbing Salon
Opening a Barbing salon is another fast-moving and highly profitable business that can be started on a small scale in Nigeria. This business is a good source of daily income as you can earn up to N10,000 daily.
Barbing salon requires you to learn how to barb professionally to get started. It can be started from anywhere and by anybody as ladies too now own barbing salons in some parts of the country.
37. Hairdressing Salon
Just like the barbing salon business, opening a hairdressing salon is also a source of daily income and can be started on a small scale. Just small capital is required to start the business. You also need to acquire hairdressing skills to start a business in Nigeria.
38. Event Planner
Event planner business is another small scale business idea that is not too saturated. This business involves finding people who have events, then helping them plan it by suggesting and finding the best location, mc, rental service, etc.
You can become an event planner at no cost, as all you need is to know in-depth what event planners do, and offer the service. There are lots of professional event planners who you can learn from before getting started.
39. Become a Real Estate Agent
Becoming a real estate agent is one of the new and highly profitable small scale business ideas in Nigeria. In some parts of the country, real estate agents make up to 3 million Naira per successful deal.
This business involves being a middleman between property owners, property buyers, and/or tenants, and getting paid a percentage of a successful deal. These properties can be homes, apartments, lands, etc.
You can become a real estate agent anywhere in Nigeria, as the business requires almost nothing to get started. All you need to do is to connect sellers and buyers of properties, and make money.
40. Mini Gas Plant
Small scale gas refilling is one of the fastest-moving and highly profitable small businesses in Nigeria that can make you money on a daily basis. This business involves refilling cooking gas in small quantities such as 1kg, 3kg, 6kg, and 12kg.
You can start this business anywhere in Nigeria, as almost every household now uses a gas cooker to do their cooking. Starting on a small scale, all you need is a gas cylinder (bottle), learn about the business, and get started.
41. Ice Block Production
Ice block production is a very good business that makes a lot of money, especially during the dry season in Nigeria. This business can be started on a small scale for those living in areas with good power supply. All you need to get started is a freezer.
42. Plantain Chips Production
Another easy small business to start with low capital in Nigeria is plantain chips production. I believe everyone knows what plantain chips are, therefore it is self-explanatory.
To start, all you need is to learn about the business, get all the needed equipment, and start making plantain chips. You can also make potato chips as they both work well together.
43. Mini Restaurant
Opening a small restaurant (mama put) can also make you a lot of money. This business can be started on a small budget, all you need is good cooking skills, then you’re good to go.
44. Bread Retailing
Bread retailing business involves buying bread from the bakery and selling at retail prices to the final consumers. You can start this business from anywhere in Nigeria, as the demand for bread is high across the country.
Bread retailing business is a good source of daily income, is fast-moving, and can be started with less than 5000 Naira.
45. Small Scale Farming
Cultivating an acre of land is still considered small-scale farming in Nigeria, and in some parts of the country, it will cost you less than 100K to set everything up. Farm produce is high in demand in all parts of the country, so small-scale farming is very profitable and can give you up to 300% ROI after harvest, depending on your location and the type of crop cultivated.
The best types of crops you can start with on a small scale include cassava, maize, millet, potato, watermelon, etc. This business is great for those in rural areas.
Conclusion
If you don’t have a huge capital, starting a small business in Nigeria is ideal for anyone regardless of your location. With this post about the best small scale business ideas in Nigeria, I believe you’ve known the perfect one to start for you.
