15 Great Businesses You Can Start With 1M Naira in Nigeria

Are you an aspiring entrepreneur in Nigeria looking to start a business with a limited budget?

Whether you are looking for an online business, an in-person business, or something else, there are many different businesses you can start With 1M Naira in Nigeria.

Despite the challenges of rising costs and inflation, there are still plenty of business opportunities in Nigeria that you can jumpstart with just one million Naira.

As a fellow businesswoman in Nigeria, I understand the desire to break free from financial difficulties and create a prosperous future.

Let me share some exciting options with you.

15 Top Notch Businesses You Can Start With 1M Naira in Nigeria

1. Retail Store.

You can start a small retail shop with 1 million naira in Nigeria.

Here are some important things to consider:

First, find a good spot for your shop. Look for a place where many people pass by, like a busy street or near residential areas.

Make it easy for customers to find you.

When setting up your shop, put up signs, arrange the products neatly, and make it easy for customers to find what they’re looking for.

When customers come to your shop, be friendly and helpful. Make sure you know when you’re running low on popular items and when you need to restock.

By focusing on offering excellent service, your business has a good chance of being successful.

2. Restaurant or Fast Food Joint

You can also start a restaurant or fast food joint with 1 million naira.

Pro tip: offer affordable and delicious meals.

You will find it useful to specialize in a specific cuisine or provide a variety of options.

Choose a good location, create a menu that appeals to your target customers, prioritize food quality, and provide excellent customer service.

Consider offering delivery services to reach a wider audience.

With tasty food and a focus on customer satisfaction, your restaurant will thrive.

You can learn more at How to Start a fast food business in Nigeria (Earn ₦10k Daily )

3. Fashion Boutique

Have you ever thought about opening a trendy boutique in Nigeria? 1 million naira will get you started.

It’s a cool business idea where you can sell stylish clothing, accessories, and footwear.

You will have two options. You can focus on a specific group of people with similar tastes, or you can offer a wide variety of options for different customers.

Starting a boutique takes effort, but it can be exciting and rewarding.

With the right clothes, accessories, and great customer service, your boutique will become a go-to place for fashion-forward people in your area.

Get ready to work hard, have fun, and create a stylish shopping destination.

You can head over to 13 Vital Tips on How to Start a Beauty Product Business in Nigeria

4. Mobile Phone Accessories

Starting a business selling phone accessories like chargers, cases, screen protectors, and headphones is also a great idea.

Before you start, it’s important to find out more about the market.

You should also check out what other businesses are already selling and what people like to buy.

This will help you figure out how to make the best of your starting capital of 1 million naira.

You’ll also need to think about how much money you’ll make and spend. Having a plan will help you stay on track.

Remember, starting a business can be exciting, but it also takes hard work and planning.

ALSO READ: 14 Profitable Businesses You Can Start With 70K in Nigeria

5. Event Planning:

Planning events like weddings, parties, and corporate gatherings can be an awesome business idea to start with a million naira.

You’ll be in charge of coordinating everything from finding the perfect venue to arranging decorations, catering, and entertainment.

With so many people hosting different types of events, there’s a big demand for event planners.

You will get to use your creativity and organization skills to make special occasions unforgettable.

Pro tip: make it a point to understand your client’s needs and preferences.

Build relationships with reliable vendors like caterers, musicians, and photographers, who can help you deliver top-notch services.

Marketing is key too. Spread the word about your event planning services through social media, online platforms, and networking events.

6. Mini Importation

Imagine starting a business where you import and sell cool stuff that people love from countries like China.

You will find it easy to get started with a million naira.

First get your hands on affordable and trendy items like electronics, fashion accessories, or things for the home.

Think about all the popular products that everyone wants, but at a price that won’t break the bank.

You’ll be the one making it happen by finding reliable suppliers overseas who can provide you with these awesome products.

Finally, run ads for these products.

7. Cooking Gas

Starting a cooking gas business in Nigeria with 1 million Naira is a great way to earn money every day.

It’s a simple business that anyone can begin with some basic knowledge of selling gas.

To get started, you’ll need a few things like a gas tank, a scale, a hose pipe, and other necessary materials.

Once you have these, you can start selling gas and making a profit.

The best part is that you don’t need a big shop or store to begin.

You can even set up in front of your house since the business only requires a small space.

You will also find it profitable to offer home delivery services.

8. Internet Café

Ever thought of opening an internet café? It’s a cool business where people can come and use the internet, rent computers, and get printing done.

And guess what? It’s a profitable venture, especially in areas where internet access is limited.

Just imagine being the go-to spot for students who need to research or finish assignments, or for folks who don’t have internet at home.

You’ll be providing a valuable service to the community while making money at the same time.

Offer a comfortable space with reliable internet, a variety of computers for rent, and printers for documents or photos. You could even provide additional services like scanning or photocopying.

With the increasing reliance on the internet for everyday tasks, starting an internet café is a smart move.

9. Beauty Salon

Why not start your own beauty salon? It’s a fantastic business you can start with a million naira.

Imagine creating a stylish and welcoming salon where people can come to get pampered and feel fabulous.

From trendy haircuts to gorgeous nail art, you’ll have all the services covered to help your customers look and feel their best.

Don’t forget about selling beauty products too. It’s a great way to provide extra value to your clients and increase your earnings.

Starting a beauty salon allows you to unleash your creativity and make a positive impact on people’s lives.

Check out 13 Vital Tips on How to Start a Beauty Product Business in Nigeria

10. Car Wash

With a million naira, you can also start a car wash business in Nigeria.

You will target both individual vehicle owners and corporate clients, making it a promising venture.

Imagine having a bustling car wash where people come to get their vehicles sparkling clean. From a basic wash to a full detailing service.

By targeting both individual vehicle owners and corporate clients, you’ll have a diverse customer base.

Individuals will love the convenience and the shiny results, while businesses with fleets of vehicles will appreciate your reliable services.

The success of your venture will also depend on factors such as location, marketing strategies, and customer service.

11. Laundry and Dry Cleaning Service

Starting a laundry and dry cleaning service is a fantastic business idea.

Imagine providing a convenient solution for people who want their clothes to be clean and well-pressed.

Offer additional services such as alterations or repairs. This is a great way to add value to your business and attract more customers.

Advertise your laundry service through local channels like flyers, word-of-mouth, and social media.

Offer promotions or discounts to attract new customers and encourage repeat business.

Pro tip: Be friendly, attentive, and efficient when interacting with customers. Address any concerns or issues promptly to ensure customer satisfaction.

With proper planning and a dedication to cleanliness, you will build a successful business that meets the laundry needs of your customers.

12. Logistic Business

You can also start a local logistics business with a million naira.

Make sure you understand the requirements for operating a logistics business in your area and obtain any necessary permits or registrations.

Building a reliable network is crucial. Connect with carriers, freight forwarders, and suppliers who you can trust to deliver exceptional service.

These partnerships will help you secure transportation resources and meet customer demands.

Pro tip: Automation and digitization can save you time and reduce errors.

With careful planning, strong partnerships, and a focus on customer satisfaction, you will build a successful venture in the dynamic world of logistics.

Read 16 Best Delivery Companies in Nigeria

13. Start a Fish Farming Business.

You can totally start a fish farming business with just 1 million Naira.

Set aside some of your budgets to buy fish fingerlings or juveniles. Choose species that are known for their growth rate and high demand in the market.

Pro tip: Allocate funds for good quality fish feed. Remember, healthy and well-fed fish grow better and fetch a better price.

You’ll also need some equipment to keep things running smoothly. Look for affordable options that won’t break your budget.

Managing your farm is important too. Consider hiring a little help to take care of daily tasks like feeding the fish and maintaining water quality.

It will make your life a lot easier.

14. Building material business in Nigeria.

Start a small building material business with 1 million naira.

First things first, do some market research. Look into the demand for building materials in your target area.

Find out which specific products are in high demand. This will help you determine what to focus on and how to position your business.

Outline your product range and think about how you’ll market and promote your business.

Starting a building material business in Nigeria requires careful planning and dedication.

But with the right approach and a focus on customer satisfaction, you will build a successful business that meets the construction needs of your customers.

15. Soft Drink Business.

Have you ever thought about getting into the soft drink wholesale business?

It’s a pretty cool opportunity, considering the ever-growing demand for refreshing beverages.

Here’s what you need to know:

First things first do some research on the soft drink market in your area.

Find out which brands and flavors are popular and check out the competition.

Building relationships with reliable suppliers is key.

Before you go…

In conclusion, starting a business with 1 million Naira in Nigeria is not only possible but also offers a wide range of opportunities.

From retail stores and restaurants to fashion boutiques and mobile phone accessories, there are various options to choose from based on your interests and market demand.

Venturing into event planning, mini-importation, or beauty salons can also be profitable and rewarding.

These businesses cater to the specific needs and preferences of customers, allowing you to showcase your creativity and provide valuable services.

Here’s a list of articles I’ve written that may be able to help you find other ways to start businesses in Nigeria: