38 Unique and Profitable Business Ideas in Nigeria ( 2023)

Are you searching for the right business idea in Nigeria? Are you an aspiring entrepreneur looking for lucrative business ideas in Nigeria?

Do you need a business in which you can invest your money with the possibility of good returns?

In this article, I will explore some of the top business ideas in Nigeria that have the potential to evolve into successful ventures.

Finding the right business idea that is both innovative and profitable can be a daunting task.

Whether you are a seasoned entrepreneur or a first-time business owner, this guide will help you kickstart your entrepreneurial journey in Nigeria.

Let’s dive in…

38 Brilliant Business Ideas in Nigeria

1. Pure Water Business

Starting a pure water business in Nigeria is a smart move.

You know how important clean and safe drinking water is, right?

Well, in Nigeria, that’s a big concern for many people. Pure water sachets are like a lifesaver – they offer affordable, convenient, and reliable drinking water.

With the population growing and urban areas expanding, the demand for clean water is on the rise.

Nigerians are always looking for trustworthy sources of drinking water, and that’s where your pure water business comes in.

Plus, the production costs can be relatively lower compared to other bottled water options.

2. Grasscutter/BushMeat Farming

There’s a high demand for bushmeat in Nigeria and other parts of the world, but there’s little supply of this delicacy.

To get started, begin by conducting thorough research to understand grasscutter farming techniques.

Develop a solid business plan that outlines your goals.

Source healthy grass cutters and provide them with optimal care and nutrition.

Next, focus on building a strong brand that reflects quality and sustainability.

By adhering to these steps, you can establish a thriving grasscutter farming or bushmeat business that caters to demand.

This business can be started with minimum capital.

3. Gum Tree Business

Starting a gum tree business in Nigeria presents an intriguing opportunity.

Gum trees, also known as eucalyptus trees, offer a wide range of uses, making this venture potentially lucrative.

One thing I like about this business is that it has super low competition.

We use rubber for a lot of things in Nigeria, but very few people know where this rubber is obtained.

Gum trees can be harvested for their timber, essential oils, and other valuable products.

Essential oils have various applications in cosmetics, aromatherapy, and medicinal products.

As you establish your gum tree business, focus on creating a reliable supply chain for your products.

By understanding the market demand and delivering high-quality products, you’ll surely find success.

4. Egg Delivery Business

Eggs are a staple in many Nigerian households, and ensuring a convenient and reliable supply can be a valuable service.

To get started, establish relationships with local poultry farms to source fresh eggs consistently.

Develop a user-friendly ordering and delivery system, allowing customers to easily place orders through an app or website.

Focus on efficient packaging to ensure the eggs arrive intact and in good condition.

By offering timely and dependable egg delivery services, you can fill a practical need in the market and build a loyal customer base.

Remember, in Nigeria, convenience and reliability can go a long way in establishing a successful business.

5. Loan Office Business

Have you heard of the saying that goes, “the more value you provide to people, the more money you make?”

Well, imagine the money you can make if you’re in a position to help people with loans in this challenging economy.

Your loan office can play a crucial role in providing funds for various purposes such as personal loans, business loans, and emergency funds.

Effective communication about repayment schedules and expectations is vital to maintain positive relationships with borrowers.

Promote your loan office through community outreach, online platforms, and partnerships with local businesses.

Learn about 7 Instant Loan without BVN in Nigeria

6. Ice Fish Business

The Frozen Fish Business is a compelling venture to consider in Nigeria for several key reasons.

Firstly, Nigeria has substantial demand for fish as a significant dietary protein source.

This demand is consistent and spans across different regions and demographics.

Secondly, due to the perishable nature of fish, frozen fish plays a vital role in extending its shelf life and maintaining its quality.

By providing frozen fish, you contribute to food security and reduce post-harvest losses.

In conclusion, the Frozen Fish Business is a strong business idea in Nigeria due to the consistent demand for fish.

7. Keke Spare Parts Business

Keke (tricycle) transportation is a widespread mode of transit, and the demand for spare parts is constant due to wear and tear.

As a result, a Keke Spare Parts Business addresses an essential need in the country’s transportation sector.

Learn How to Start Keke Spare Parts Business in Nigeria

Due to bad roads, Keke operators require regular maintenance and replacement parts.

The business can be relatively easy to enter, especially if you establish connections with reliable suppliers and understand the market demands.

Basic knowledge about Keke spare parts, their compatibility, and a willingness to learn about the market dynamics can also be advantageous.

8. Livestock Farming

The country’s growing population and demand for protein-rich food make livestock farming a significant and rewarding business in Nigeria.

Nigerians have a strong preference for animal protein, including meat, milk, and eggs.

Livestock farming allows you to tap into this consistent demand.

With proper management and adherence to quality standards, you can tap into local markets and even explore exporting livestock products to neighboring countries.

9. Farming

Farming is a highly promising business idea in Nigeria due to the country’s fertile land, large population, and increasing demand for food products.

To succeed in farming, you would need to offer services such as:

Crop cultivation,

Raising livestock for meat and other products,

Engaging in agro-processing and distribution,

Integrating modern agricultural practices and technology, and

Efficiently managing the supply chain to ensure products reach consumers in optimal condition.

The amount required for farming can vary based on the type of farming.

Crop farming and livestock farming might require moderate to high capital for equipment, land, and animal purchase.

However, certain forms of farming, like poultry, snail farming, or beekeeping, could potentially be started with relatively lower capital.

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10. Logistics and Transportation

The demand for efficient movement of goods and people is on the rise, offering substantial potential.

As of 2022, 76 million Nigerians bought something online.

This meant that somebody took these products to them.

If you put yourself in a position where your company is the one doing the delivery, you’ll be making a lot of money for yourself, no matter where you are in the country.

But the best places to run this business are developed cities like Lagos, Enugu, Abuja, and Port Harcourt.

11. Teach People How to Make Money Online

The country’s increasing digital literacy, coupled with a strong desire to explore diverse income streams, makes this venture particularly appealing.

As Nigerians become more tech-savvy, there’s a rising interest in learning how to harness online platforms for income generation.

The demand for guidance and knowledge on online money-making methods, like freelancing, affiliate marketing, e-commerce, and content creation, is palpable.

The services required involve creating structured courses covering various online money-making techniques.

An advantage is that this business can commence with relatively low investment.

Initial expenses may encompass website development, course creation tools, video equipment, and marketing.

12. Buy and Sell on Facebook Marketplace

Getting into buying and selling on Facebook Marketplace is a smart move.

I recently sold an old fridge at my place, and guess where I sold it? On Facebook.

This was what gave me the idea that you can make a lot of money just by buying and selling on Facebook.

You know how folks are glued to their smartphones and the internet, right?

Well, that’s where the action is happening, and Facebook Marketplace is a hotspot for buying and selling stuff.

Nigeria’s online game is strong, with more people hopping onto platforms like Facebook to find things they want.

So, setting up a buy-and-sell gig on Facebook Marketplace is like bringing the market to their fingertips.

Here’s the scoop on what you’ll be doing:

You’ll find cool products to sell, like gadgets, clothes, or whatever tickles your fancy.

Then, you snap some great pics, describe what you’re selling in a way that makes folks go, “I want that!”

Put it up on Facebook Marketplace.

When folks show interest, you’ll be their go-to person.

All you need is your trusty smartphone, good photos of your stuff, and a way to meet or deliver the goods.

13. Selling Iron Sheets, Bars, and Pipes

Selling iron sheets, bars, and pipes is a solid business idea that can gain traction.

These materials are essential for various construction projects, making your venture a valuable player in the country’s development landscape.

As for capital, you’d need to invest in building relationships with reliable suppliers.

While it might require a chunk of money, the demand for construction materials in Nigeria makes this a worthwhile endeavor.

14. Import Baby Shoes

Importing baby shoes from Cotonou to sell in Nigeria is a smart move.

Parents in Nigeria are always seeking stylish and comfortable baby shoes.

By sourcing from Cotonou, you’ll be buying cheaper than you could ever buy in Nigeria.

For capital, you’d need funds for orders, transportation, customs, and marketing.

The profit potential in Nigeria’s baby products market makes the investment worthwhile.

Imagine being the go-to person for trendy and trustworthy baby shoes.

If you’ve got an eye for design and business, this idea could be your perfect fit!

15. A Subscription-Based Car Wash

Nigeria’s streets are filled with cars, and car owners want their vehicles sparkling clean.

To get started, find a spot near busy areas or residential communities.

Accessibility is key.

Get the necessary car wash equipment and consider water-efficient technologies to keep things eco-friendly.

Create subscription packages that offer different levels of cleaning.

A quick wash,

A deep clean, you name it.

The good news is that you don’t need a fortune to start.

As you attract regular customers with your subscription plans, the money coming in can cover your costs and more.

16. Digital Marketing for Local Businesses

Starting a digital marketing business in Nigeria is a very good business idea.

Local businesses in Nigeria are on the lookout for ways to reach more customers and stay competitive.

This is where your digital marketing skills come into play.

By helping them navigate the online world, you’re providing a valuable service that can significantly impact their growth.

Here’s how to start:

Brush up on digital marketing strategies, including social media, search engine optimization (SEO), email marketing, and online advertising.

You can learn all these on YouTube. If you can find a mentor, even better.

Decide whether you want to focus on a specific industry, like restaurants or fashion stores, or offer a broader range of services.

Starting a digital marketing business doesn’t have to break the bank.

You’ll need to invest in tools for managing social media, SEO research, and possibly some advertising to promote your services.

While it might require a bit of upfront investment, the returns can be substantial as you build a loyal client base.

17. Pet Services

A pet services business in Nigeria is not only a fun venture but also a smart one with plenty of room to grow.

Here’s why it’s worth a closer look:

Nigeria’s pet scene is booming, and pet owners are seeking quality services.

Whether it’s pet grooming, walking, or boarding, there’s a growing demand for these services.

Your pet services could range from:

Grooming: giving those pampered pets a stylish makeover,

Dog walking that gets those tails wagging,

And don’t forget about pet boarding.

When people need a reliable place for their furry friends to stay while they’re away, your business could be the answer.

Getting your pet services off the ground isn’t as tough as it seems.

First, you’ll need a great location, especially in pet-friendly neighborhoods or areas with good foot traffic.

Invest in top-notch equipment and a cozy atmosphere that’ll make pets feel right at home.

While there’s some upfront cost involved, it’s not sky-high.

You’ll need funds for setting up a welcoming space, equipment, and possibly marketing.

The beauty of this venture lies in the potential for consistent income.

Pet owners tend to be loyal when they find a service that truly cares for their pets, and that loyalty translates into a steady stream of happy customers.

18. E-commerce

Ready to dive into the world of business in Nigeria?

E-commerce is your ticket.

The country’s thriving online shopping culture opens doors to a diverse range of products and services.

Setting up an e-commerce store lets you reach a broad audience of online shoppers.

Your virtual storefront operates around the clock, capitalizing on Nigeria’s growing interest in online shopping.

The investment needed is reasonable, covering website setup, product sourcing, and marketing.

19. Food Delivery for Busy Professionals

I have a friend whose business is to cook exotic meals like Nsala Soup and Semo, Jollof Rice, etc., and deliver them to offices of very busy people.

She makes a lot of money doing this business.

In Nigeria’s fast-paced lifestyle, delivering ready-to-eat meals to busy professionals is a lucrative business idea.

Examples of busy professionals are:

Bankers,
Lawyers,
Doctors,
Managers,
Lecturers.

Your services would involve preparing a diverse menu of nutritious and delicious meals.

The hustle and bustle of urban life means that delivering these meals directly to workplaces or homes is a sought-after convenience.

Check out: 16 Best Delivery Companies in Nigeria

20. Personal Fitness Training

While things may seem difficult in Nigeria, more and more people are getting obese.

As a personal fitness training business, your services would revolve around designing personalized fitness programs, guiding clients through workouts, and providing nutritional guidance.

The demand for fitness training spans from weight loss to muscle building and overall well-being.

To begin, you’ll need fitness certifications, basic equipment, and a space for training.

By catering to the health-conscious crowd, you’re tapping into a market that values expert guidance on their journey to better health.

21. Second-Hand Clothing Store

Another good business idea to go into in Nigeria is to sell second-hand clothing.

That’s Okrika. To make money in this business, you must go for a selection of gently used clothing, shoes, and accessories.

By offering quality second-hand items at affordable prices, you’re tapping into a market segment that appreciates unique fashion finds.

For this business, you’ll need a well-located storefront and a good eye for selecting fashionable items, and effective marketing strategies.

22. Organic Beauty Skincare Line

With the rise in demand for clean and natural beauty products, you can position your business to cater to consumers seeking healthier options.

There’s a lot of bad products in the market today and women are wary.

But to make money in this business, your product range would encompass a variety of skincare products made from organic and natural ingredients, free from harmful chemicals.

However, starting an organic skincare line requires careful formulation, sourcing of quality ingredients, and creative packaging.

By tapping into the desire for toxin-free beauty routines, you’re entering a market that values authenticity and natural goodness.

23. Virtual Reality Arcade

Setting up a virtual reality (VR) arcade is an exciting venture in Nigeria’s tech-savvy landscape.

With the growing fascination for immersive experiences, offering a VR arcade can provide a unique form of entertainment.

Starting a VR arcade requires investment in VR equipment, space setup, and a variety of VR experiences.

As curiosity about VR continues to rise, your arcade can be a hub for tech enthusiasts and curious explorers.

In Nigeria’s evolving tech scene, your VR arcade can be a gateway to limitless experiences.

24. Home Security Services

Offering home security services is a vital business idea in Nigeria’s safety-conscious society.

With concerns about personal security on the rise, providing comprehensive home protection solutions can offer reassurance to homeowners.

Your services would include installing and monitoring security systems such as alarm systems, surveillance cameras, and access control.

Starting home security services involves investing in security technology, training, and building partnerships with security equipment suppliers.

As individuals prioritize their safety, your services can play a pivotal role in creating secure environments.

25. Smart Home Installation

What is a smart home?

These are homes where you can open your curtain at the click of a button.

You tell your lights to come on and off with voice commands.

Embracing the trend of smart home installation in Nigeria is a brilliant decision.

The concept of a smart home is gaining traction in Nigeria.

Smart homes offer convenience, security, energy efficiency, and a futuristic living experience.

Nigerians are looking for ways to simplify their lives and manage their homes remotely.

This makes your smart home installation business perfectly positioned to cater to these needs.

While the initial investment might seem substantial, the potential return on investment is considerable as smart homes can increase property value.

Your smart home installation business addresses the desire for advanced living experiences, making it a promising venture in Nigeria’s evolving market.

26. Visa Process Service

Venturing into the Visa Process Service business in Nigeria is a strategic move with great potential.

Think about how crucial seamless international travel is, right?

Well, in Nigeria, navigating the complexities of visa applications is a daunting task for many individuals.

Visa process services act as travel enablers – they provide guidance, support, and expertise in securing visas for various destinations.

Given Nigeria’s global diaspora and the JAPA movement, the demand for hassle-free visa processing is on the rise.

Nigerians are actively seeking reliable sources to help them navigate the maze of visa applications.

That’s where your Visa Process Service business comes into play.

27. Natural Food Processing and Packaging

Consider how much emphasis is placed on healthy and organic food consumption nowadays.

In Nigeria, the availability of convenient, high-quality natural food products is limited.

If you go to the market during tomato season, you’ll find a lot of rotting tomatoes.

It’s the same with almost every perishable good in the country.

In such an environment, natural food processing and packaging can be a game-changer.

The demand for organic and minimally processed foods is escalating.

Nigerians are actively seeking trustworthy options for wholesome, ready-to-eat foods.

If you put yourself in a position where you provide this service, you’ll make a lot of money.

Traditional Nigerian ingredients and recipes can be combined with modern processing techniques to create unique, flavorful products.

28. Palm Oil Business

Delving into the world of the Palm Oil Business in Nigeria is like tapping into a rich, golden opportunity.

Palm oil is a cornerstone of traditional dishes in Nigeria.

A Palm Oil Business can be a bridge between tradition and modern demand.

With Nigeria’s lush palm groves and the increasing interest in natural, unprocessed foods, the demand for authentic palm oil is on the rise.

Nigerians, whether at home or abroad, are seeking the genuine flavors and nostalgia associated with palm oil, and this is where your Palm Oil Business comes into play.

You can find out how to start a palm oil business here.

29. Block Industry

Starting a Block Industry business is an excellent idea in Nigeria due to the ongoing construction activities across the country.

Blocks are a fundamental building material required for various projects.

It’s important to note that the expenses largely depend on the scale of your operation and the equipment you choose to use.

Setting up the machinery for block production can be a significant cost, but you’ll make money given the consistent demand for blocks.

To succeed in the Block Industry business, focus on a few key factors.

Firstly, ensure the quality of your blocks is top-notch.

Consistency in size, shape, and strength will make you stand out in the market.

Secondly, consider sustainable practices in your operations to reduce costs and minimize waste.

Finally, establish strong relationships with builders, contractors, and developers to secure a consistent customer base.

If you manage to do all these, you’ll be able to position yourself well in this industry within a few years.

30. Bakery Business

With a growing population and a love for baked goods, the demand for fresh and delicious treats is high.

While setting up a bakery requires equipment and ingredients, it can be relatively affordable compared to some businesses.

Bakeries are profitable, as people are always looking for tasty treats, from bread to pastries.

In summary, a Bakery Business offers a chance to tap into a hungry market.

With careful planning and attention to detail, you can turn it into a successful and satisfying venture.

31. Importation of Used Items

Nigeria’s market has a demand for affordable, quality products, and importing gently used items can cater to this need.

The most popular items to import are:

Kitchen utensils,
Cars,
Bicycles and toys,
Clothes, and
Electronics.

The startup cost of this business can vary based on the type and quantity of items you want to import.

By sourcing items at a lower cost and selling them at competitive prices, you can generate healthy profit margins.

A summary of how to start is to research what products are in demand, ensure the items are in good condition, and navigate customs and shipping regulations.

32. Real Estate Business

Of all the businesses mentioned in this list, the real estate business is the most popular and profitable.

While the upfront costs can be significant, real estate offers long-term value and potential for substantial returns.

Real estate investments can yield rental income and capital appreciation, making it a lucrative avenue for wealth building.

An added advantage is that the Real Estate Business provides a chance to capitalize on Nigeria’s evolving property landscape.

By making informed investments and fostering strong relationships, you can navigate this unique market and make a lot of money.

33. Pop Cement Business

Starting a Pop Cement Business in Nigeria is an excellent business idea due to the country’s thriving construction industry.

Entering this business is relatively straightforward, especially when you establish strong supplier relationships and efficient distribution channels.

In terms of profits, the high demand for cement allows for competitive pricing, which can lead to substantial profit margins over time.

The investment required for starting a Pop Cement Business can vary based on factors like scale and location.

Costs may include purchasing cement in bulk, setting up storage facilities, transportation, and marketing.

Check out: Can I start a cement business with 200k?

34. Rental Services Business

Diving into the world of Rental Services for Parties in Lagos is like becoming the ultimate party magician.

You’re the one who makes every event sparkle.

A Rental Services business isn’t just about renting chairs and tables;

it’s about transforming spaces into immersive party experiences.

With Lagosians’ love for celebrating milestones, big and small, the need for accessible, high-quality party rentals is on the rise.

People in Lagos are searching for a convenient way to create Instagram-worthy parties that leave lasting memories.

That’s where your Rental Services for Parties business takes the spotlight.

Collaborate with local decorators and planners to create themed wonderlands that take parties to the next level.

35. Exportation Business

Starting an exportation business in Nigeria is a lucrative venture.

Why?

Nigerians in the diaspora are seeking local and natural products like:

Egusi,
Ogbono,
Breadfruit,
Okpa seed,
Stockfish.

But they have no idea where to find these items.

Very recently, I watched a video on YouTube about the exportation business.

In that video, the creator talked about the embargo that has been placed on the exportation of Nigerian products due to the inability to follow procedures.

He talked about how Nigerian products are often exported with sand in them.

Wherever there is incompetence like this, there are also opportunities.

To be on the opportunity side, you have to identify all the things people are failing to do or the things they are doing wrong.

Do them right and start making money. It’s that simple.

36. Food Supply

Starting a Food Supply Business in Nigeria is a strategic and rewarding endeavor.

Profits in the food supply industry are substantial considering the unceasing demand for diverse food products.

In a nutshell, the food supply business taps into Nigeria’s inherent love for food and offers a chance to cater to a diverse market.

37. Wallpaper Business

Starting a wallpaper business in Nigeria can be a promising venture due to several reasons.

Wallpapers are becoming increasingly popular for their aesthetic appeal.

The demand for interior decoration and home improvement is growing in the country.

With a growing middle class and urbanization, more people are investing in their homes.

Offering a wide range of designs, quality products, and excellent customer service can help you stand out in the market.

You’ll be able to cater to the diverse preferences of Nigerian consumers.

38. Dry Cleaning/Laundry Services

Busy career professionals barely have the time to manage their laundry. They are often very grateful when you offer to do it for them.

Dry cleaning and laundry service is one good business idea in Nigeria that is very profitable.

There are so many laundry services spread all over the country. Ensure you set up your own in an area with little competition.

Get the necessary materials, soaps, and detergents used in the process. The beauty of the laundry service business is that it requires low capital to start.

FAQ

Which Business is the Most Profitable in Nigeria?

Certainly, here is a list of some of the most profitable industries in Nigeria:

Oil and Gas
Telecommunications
Banking and Finance
Real Estate
Agriculture
Consumer Goods
Entertainment and Media
E-commerce and Technology

Which Business is Trending in Nigeria?

Based on the search results, several businesses are currently trending in Nigeria.

The non-oil sector is contributing to the growth of the country’s GDP, and some of the fastest-growing sectors in Nigeria in 2022 include the industrial sector, retail sector, and livestock farming.

What is the Best Business to Start in 2023?

The best business to start in 2023 in Nigeria would depend on various factors, including the entrepreneur’s skills and interests, market demand, competition, and available resources.

However, some of the most promising business ideas for 2023 in Nigeria include

E-commerce,
Fintech,
Renewable energy,
Health and wellness, and
Digital marketing
A restaurant
A grocery store
A transportation company
A manufacturing company

Also Read: 14 Profitable Businesses You Can Start With 70K in Nigeria

What Business Can I Start as a Student in Nigeria?

Starting a business is never easy; there are many hurdles to overcome and requires lots of patience. Businesses need you to have the proper knowledge, attitude, capital access, and more.

Business students can start in Nigeria with little or no investment. These businesses are ideal for students because they don’t require a lot of money to get started and run from home.

Blogging
Freelancing
Content creation
Social media management

Before you Go

Nigeria offers a diverse range of lucrative business opportunities across various sectors.

It’s essential that you assess your strengths, consider market trends, and leverage available resources to make informed decisions.

Whether you choose to venture into farming businesses or explore the potential of digital marketing, the key lies in diligent planning, adaptability, and a commitment to providing value.

If you have any business ideas or great opportunities in Nigeria, let me know in the comment section!

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