10 Most Profitable Business in Nigeria with Low Capital -2023

Are you looking for the most profitable business in Nigeria with low capital?

Then you’ve come to the right place. In this article, I will provide 10 profitable businesses you can start with low capital in Nigeria.

You will also get my reasons for choosing these businesses.

At the end of this article, you should have a list of the best businesses you can start with low capital in Nigeria.

For the past five years, I have done various businesses in Nigeria. I know one or two things about running a successful business in Nigeria.

What Do You Mean by Low Capital in Nigeria?

most profitable business in Nigeria with low capital

In Nigeria, for small-scale businesses, low capital can range from around ₦100,000 to ₦500,000 (Nigerian Naira).

This range can vary depending on the nature of the business and the local economic conditions.

Some businesses may require even lower capital, while others might require slightly more.

But in this article, I’ll give you 10 businesses to start with 50k to 500k in Nigeria.

Most Profitable Business in Nigeria with Low Capital

1. E-commerce

The first profitable business you can start with low capital in Nigeria is e-commerce. Some people refer to it as a mini importation business.

You can start a mini importation business with as little as N50,000 in Nigeria.

It sounds too good to be true, right? Well, I felt the same way when I heard about it for the first time.

Wait a minute, let me explain how it works.

All you have to do is enroll yourself in the Kairos offers. This enrollment is what is going to take up the N50k you have.

When you enroll, you will get access to a wide variety of products that have been tested and trusted.

The way to make money is to drive customers to these products.

How will you drive customers to these products?

After enrollment, not only will you be given access to these products, but you will also be taught how to use social media for marketing.

You will learn how to run Facebook, Instagram, and TikTok ads.

2. Blogging

Blogging most profitable business in Nigeria with low capital

Blogging is another profitable business you can start with little capital in Nigeria today.

To make any headway in blogging, you have to love writing because you’ll write lots of blog posts.

To start blogging, you have to find a hosting company. I like Bluehost Shared Hosting, but it is expensive.

The second alternative is Namecheap.

Whatever you settle on, it’s not going to cost you any more than 150k. If you already have a laptop, that is good.

But if you don’t, you will have to buy a laptop for yourself. A laptop could take more than 50k. A second-hand laptop will do just fine.

With the hosting and laptop, that’s about 100k down. After that, buy a blogging course.

This will help you immensely. If you choose to do it yourself, you could waste a lot of time doing the wrong things.

In the end, you may not even make money.

So, get a laptop, purchase hosting, and get a course.

3. Affiliate Marketing

I know, I know, I’m only mentioning online businesses. Online businesses are where the money is today.

Affiliate marketing is another one.

With affiliate marketing, all you have to do is keep like 50k that you will use for running ads.

Look, if you don’t know how to run ads, then you learn how to do it. Invest in a course.

Courses will teach you in two or three days what it may take you years to learn.

So, if you want to learn how to run ads, get like N20k and buy a Facebook ads course.

Buy an affiliate marketing course too.

You may start making money immediately, but you will if you give yourself time.

Before buying any course, just ask around online to see what other people have to say.

And when you buy the course, just cool down and learn everything, then you start implementing. It’s that simple.

Most of the affiliate marketing courses out there cost no more than 30k. If you add in the Facebook ad course, then it’s 50k.

If you do things right, in a couple of months, you’ll be happy you made this decision.

4. Fast-Food Business

Fast food as most profitable business in Nigeria with low capital

If you want to start a fast food business in Nigeria, you have to set aside nothing less than 200k.

The major thing that will cost you money in the fast food business in Nigeria is the price of your store.

But if you can find a good location in a marketplace, then you may not have any need for an official store.

The necessary items for running this business, such as cooking gas, plates, spoons, chairs, and tables, will also cost money but not that much.

After that, you will also need to hire somebody who will help you serve your customers.

While these things are going to take up a chunk of your money, you will quickly regain this money back if you position yourself in a place where people will demand what you are selling.

Create a great menu. Choose a time that you will be cooking, whether it is in the morning or the evening.

Decide on the type of meal you will be cooking. Is it fast food like Indomie or heavier ones like Akpu or Amala?

Once you have settled on this, then you are good to go.

If you need more direction on this, then feel free to read this article: “How to start a fast food business that will give you 15k daily.“

5. Sales of Plastics

If you’re looking for a business idea that requires low capital in Nigeria, selling plastics can be a viable option.

Here’s why:

Starting a business selling plastics requires minimal initial investment.

You can begin with a small inventory of plastic products such as containers, bowls, cups, or household items, which are generally affordable to purchase in bulk.

Plastics are everyday essentials that are constantly in demand.

From food storage to packaging and other household needs.

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6. Cleaning Services

Another low-cost business idea to start in Nigeria is the laundry business. Now, cleaning service is an underrated business in Nigeria that is very much in demand.

People are building houses every day. And looking for people who will come and clean up the mess made by the workers.

Firstly, the initial investment required is minimal as you can begin with basic cleaning tools and supplies.

Additionally, operating the business from home initially helps to keep overhead costs low by eliminating the need for expensive office space.

If you have 200k as initial capital, then you have everything you need to succeed in this business. The cost of brushes and buckets can take up to 50k.

You will also need to hire 2 other people who will help you get things done.

For you to get customers, all you have to do is to run Facebook ads, which can cost you around 10k.

One job and you have recovered your money.

As with every job, the main thing is to leave your customers happy because, with word of mouth, you will get other people who will require your services.

7. Home-based Bakery

One thing I know is that Nigerians like to eat. A home-based bakery is a profitable business you can start with low capital in Nigeria.

Here are some reasons:

Firstly, the equipment requirements are minimal, consisting of basic baking essentials like an oven, mixer, and utensils that can be acquired gradually.

Operating from home eliminates the need for renting or purchasing a separate commercial space, reducing overhead costs such as rent and utilities.

Baking ingredients, such as flour, sugar, and eggs, are readily available and affordable in Nigeria, allowing you to source them in bulk and maximize profit margins.

You can create a niche for yourself by baking cakes of special varieties.

If you don’t know how to do that, you can learn through resources like ChatGPT, an artificial intelligence tool that can assist you in learning new cake recipes.

To attract customers, you can market your cakes on social media platforms like Facebook, TikTok, or Instagram.

Once you begin to make money, you can also scale this business by offering baking classes where people pay a small amount to learn different varieties of cakes.

For example, you can charge 20k for teaching people how to make different cake recipes, which can earn you 200k easily.

8. Laundry Services

You don’t need expensive machines to begin.

Basic washing machines, dryers, ironing boards, and pressing irons can be purchased at reasonable prices, especially if you consider second-hand or refurbished equipment.

Initially, you can start the laundry service from your own home. This saves you money and allows you to invest more in essential equipment and supplies.

Begin with a small-scale operation, serving a limited number of clients, and gradually expand as you gain more customers.

Reinvest your profits by acquiring additional equipment or expanding your workspace, ensuring sustainable growth.

Promoting your laundry service can be done without spending a fortune.

Utilize social media, online directories, and leverage word-of-mouth referrals to reach your target audience without significant advertising expenses.

Laundry services are always in demand, regardless of the economic climate.

People need clean clothes, and not everyone has the time or resources to do their laundry regularly. By offering reliable and convenient laundry services, you can tap into a consistent customer base.

9. Snail Farming

As a successful businesswoman in Nigeria, let me share why snail farming is a fantastic business opportunity that you can start with low capital.

Firstly, snail farming is a venture that doesn’t require a huge financial investment.

You can set up your snail farm using simple, locally available materials, and you don’t have to spend a fortune.

Isn’t that great?

What’s even better is that snail farming has low operating costs. Snails are easy to care for, and their diet mainly consists of plant materials, which are abundant and affordable.

With a little creativity, you can utilize the available land or even small spaces to create a suitable habitat for your snails.

Nigerians love snails! They are considered a delicacy and are highly sought after, especially during festive seasons and special occasions.

By supplying fresh, quality snails to local markets, restaurants, hotels, and individuals, you can tap into this evergreen market and turn it into a profitable venture.

10. Poultry Farming

Poultry farming is a great low-capital business in Nigeria. It has affordable infrastructure and low startup costs.

You can quickly turn a profit with short production cycles. There is high demand for poultry products, and you can scale the business gradually.

The government provides support too.

Just plan well, manage properly, control diseases, and market effectively to succeed.

Before You Go…

Nigeria offers numerous profitable business opportunities with low capital requirements.

From e-commerce and blogging to fast-food ventures and sales of plastics, aspiring entrepreneurs have a range of options to explore.

Additionally, cleaning services, home-based bakeries, laundry services, snail farming, and poultry farming are viable choices that can yield significant returns.

With careful planning, effective management, and dedication, these businesses can thrive and provide a path to financial success.

When discussing the Most Profitable Business in Nigeria with Low Capital, we refer to businesses costing 500,000 or less.

So, if you’re ready to take the leap into entrepreneurship, consider these low-capital business ideas and start your journey toward a prosperous future in Nigeria.

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