20 Lucrative Business to start in Nigeria 2022
We know the year is just getting started and a lot of you are thinking of a lucrative business to start up as a main hustle or side hustle. so read on lets share some mind blowing ideas with you.
Perhaps you are seeking a full-time business idea to invest in Nigeria as an employee or you want to generate multiple income streams then this post will be a go-to guide to get started.
There are over 1000 lucrative business ideas in Nigeria that can make you become rich.
However, we have detailed the 20 Lucrative Business to start in Nigeria 2022 and succeed at it.
The first step to starting a business in Nigeria is having an idea of what business to start. Then implementing such an idea that could become a multi-million naira business.
This article is for you if you:
are looking for hot new business ideas in Nigeria,
want to have multiple streams of income in Nigeria,
want to start a new business that makes a profit,
are employed and want to start a business from scratch,
are seeking for what business to start with small capital in Nigeria,
desire to validate your startup business ideas,
are a student that wants to make money while schooling,
looking for new business ideas for a man, woman, teenager, lady or guy in Nigeria,
seeking for what to sell to make money in Nigeria,
are asking what can I produce to make money in Nigeria,
1. Uberpreneur (Driver for Uber)
Uber is common in places like Lagos, Benin, Porthacourt and a few other parts of Nigeria.
Most people choose to become Uber drivers because of the freedom that comes with it.
If you have a car, then you have all it takes to start.
All you have to do is to become part of the uberpreneurs and start making money by getting your own commission on each ride.
This is an opportunity to manage your schedule and work with the time that best suits you.
Some Uber drivers do full time and others drive at night or during the day. The average Uber driver makes between 80,000 to 120,000 Naira every week.
2. Real Estate Agent
According to Robert Kiyosaki, a real estate tycoon, ”the real estate business is the road to take”.
Can you guess why?
These are passive income sources that you can make money from even when you’re asleep.
Every entrepreneur dreams to retire one day and be financially free.
That can only be possible if you build passive numerous income streams like real estate. The real estate business is still an untapped business in Nigeria that you can start today.
How to Get Clients for Real Estate in Nigeria
So how do you grab prospective customers attention?
- Have a professional website.
- Find out the best strategy to reach your potential buyers in your area.
- Send them to your website and capture them as lead with a lead magnet
- Nurture these lead in your funnel and keep following up with them.
3. Egg Supply and Distribution
Egg supply and distribution isn’t a bad idea, you can as well own a poultry farm to make things easier for yourself.
You can be supplying the eggs to hotels and to retailers.
The egg is consumed on a daily basis and it is a good source of animal protein.
Apart from that, eggs are used in the manufacture of products such as soaps, confectioneries, cosmetics, hair conditioners, shampoo, glue as well as face masks etc.
Hence, egg supply and distribution is a very profitable business idea to start in Nigeria make money.
As you build your customer base, the business will grow and you will make more profit.
4. Car Wash Business
In this era, the car wash business is one of the most lucrative businesses anybody can start with 100,000 naira.
Nowadays many people do not have the time to wash their cars, some are stressed after the day’s work and some cannot wash their cars well and the only option they have is to take it to the car wash.
Car wash is a business you can start anywhere there are many cars and adequate water supply.
The car washing business thrives at every season—the rainy and dry season—in Nigeria, so you won’t have any drawbacks while operating the business.
Moreover, a good location is essential for starting a car wash business. You need to choose a place that is visible to everybody.
If you cannot rent a place, you can go from house to house to wash cars for people. No doubt car wash is a great business to start with 100k in Nigeria and be successfully.
- Car wash machine
- Water supply
- Storage tank
- Generator set
- Bucket, soap/detergent
- Brushes for tyres
- Towels, etc.
5. Freelance Content Development/Ghost Writing
What lucrative business can I start with 5k in Nigeria as a student?
Do you consider yourself a content writer? Then setting up your freelance content development could be a lucrative side business you can start today even when you have a full-time job.
Freelance content writing business you can start and make money online in Nigeria with your computer and source of internet.
Sounds cool right?
You can develop content at your own convenience, whenever you’re free. And you’ll be getting paid, either monthly or weekly.
Freelancing is one of the most profitable home business ideas in Nigeria can you can venture into.
A ghostwriter is someone that writes a copy of articles, speeches, blog posts, email newsletters, web copy, etc and is not given credit for the work.
The credit goes to your client or the person that hired you. The ghostwriter definition states that none of your work is credited to you.
Ghostwriting is one of the untapped businesses you can be a part of in Nigeria
6. Mobile Food Business
Have you ever asked, what is the fastest-selling products in Nigeria? Food is a fundamental need of man.
Whatever class a man belongs in society, he needs food. Hence, the food business will always be a profitable business in Nigeria.
The mobile food business is one of the street food business ideas in nigeria that is very profitable.
Most people especially bachelors do not have enough time to cook at home.
This is when the services of a Mobile food vendor is essential. The mobile food vendor might deliver the food in the office or any chosen location.
People eat every day, and most times, junk food is always out of the equation.
As a mobile food vendor, try as much as you can to be different by focusing on a niche and scaling at it.
Then your customers will always come back and even recommend you to others.
7. Skincare Business
95% of women and about 75% of men use skincare products like cream, soaps, butter, oils, etc.
Starting a skincare business is, of course, one of the lucrative startup business ideas you can kick off in Nigeria as a lady.
You might learn the trade from a professional in the field.
Once you have acquired this skill and understand how to use the right quantity and quality of raw materials during production, you’ll make good products.
Your customers will be glued to always patronize you
You’ll always see supermarkets along the road what does this tell you?
People buy every day.
Owning a supermarket is an extremely profitable business in Nigeria.
Though you might need a huge capital to rent or build your own outlet, you’ll surely make sales.
If you’re a busy or working-class person, you can employ the services of a sales boy or girl and pay them either weekly or monthly.
This is one of the startup business ideas you can begin today with the capital and right location
9. Daycare Center
There will always be the need to make a living even after giving birth to children.
Hence, it is a business you can start today if you are looking for startup business ideas in Nigeria.
The services they render are indispensable. If you love taking care of kids, then starting a daycare center is a great decision.
One important thing to note before starting this kind of business is that you’ll need to register it properly to avoid getting into problems with the authorities.
10. Starting a Pharmacy
This is one of the most profitable businesses in Nigeria that you can start and make money in Nigeria.
Setting up a pharmacy in Nigeria is very profitable especially if you set up your pharmacy in a community with a high population.
You don’t need to be a doctor to set up a pharmacy business in Nigeria.
However, you might need to have a license to be approved.
11. Sports Viewing Centre Business
Are you a sports lover and want to make money doing what you love? Then this is one of the cheapest businesses to start in Nigeria.
All that is required is to have a viewing space, television, and a DSTV console and you are ready to go.
You can expand it to include a betting shop as you grow. This will fetch you money really fast in Nigeria as the game of football is one of the hottest sports in Nigeria.
12. Printing Press
This is one of the oldest and fast-moving small-scale businesses in Nigeria that is still profitable.
Starting a printing press business where you can mass produce works like news bulletins, magazines, banners and flyers is one of the hot business ideas in Nigeria that is lucrative.
Having the capital and the right geographical location, the printing press is one of the best business ideas to get rich fast in Nigeria
13. Bouncing and Security Service
Setting up a bouncing and security service business that offers services to clubs and wealthy individuals and celebrities is a great business idea in Nigeria.
This is a business that can help you make passive income from it.
Photography is another good business idea you should consider investing in Nigeria.
There are lots of events happening on a daily basis and people want to capture memories.
Hence, you can profit from this business really quickly.
As you start the business, you will improve on your skill over time and acquire more customers are your brand grows.
15. Car Dealership
Undoubtedly, sales of cars, vehicles and other automobiles have proved to be lucrative in Nigeria.
Considering the population in Lagos, Nigeria, starting a car dealership business especially in Lagos is enough to fetch you an acceptable amount of profit.
Perhaps you don’t have the capital to get started, you can partner with already established car dealers in Nigeria until you have been able to build a customer base and raise capital to stand alone.
16. Exportation Business
Perhaps you are thinking that no such thing as an exportation business in Nigeria. Let me burst your bubbles, export in Nigeria still exist and highly profitable businesses to invest in Nigeria.
Exporting raw materials such as cocoa, yam, vegetable oil, cassava, palm oil, textile, groundnut etc are some of the most profitable international trades in Africa.
These items are still very much in high demand in the global market. Hence, you can start exportation business in Nigeria and succeed at it.
If you are seeking a buying and selling business in Nigeria that is successful, then consider the exportation business
17. Restaurant Business
In a country like Nigeria, the restaurant business has always been on the rise. This simply means that it just will never go out of fashion.
If you’re a great cook, you can start a restaurant business today.
However, you must ensure that you prepare good meals that will keep people coming back.
Everyone needs food irrespective of their condition and that makes the restaurant business a lucrative business idea to start in Nigeria.
Perhaps, you do not need to know how to prepare all the dishes, you can hire a chef to take care of that while you focus on other business processes.
The social media space has suddenly grown to be an important tool that can drive not only the visibility of business but also its profitability.
Currently, most companies now have a social media strategy as a full-service function within their organization while others outsource this service to a digital marketing agency.
18. Dry Cleaning Business
Some people just like doing the laundry and isn’t just tired of it.
If you’re this person, why not channel that passion into something that you can be earning from?
Now, washing and drying machines have even helped in making the work easier.
The dry cleaning business is very lucrative because people will always patronize you.
Not everybody has the time to do their laundry probably because of work or they’re not just free to do it.
19. Cooking and delivery
If people must eat, the food must be cooked. But cooking is that the problem for several .
Bachelors, working-class high-income-earning mums, elderly families, busy working-class people, etc. might be your targets.
You don’t even need up thereto budget to start out the business. Your location and the way you package your business matters.
This could be just a side business until your client base grows and you’ll then face it as a full-time job.
20. Selling Of Fairly Used Goods Or Clothes
Another business idea you can start with 100,000 naira is selling fairly used goods and clothes.
Most Nigerians buy fairly used items like gadgets, clothes, shoes, household items, etc. You can purchase these items and sell them both online and offline.
Again, with 100,000 naira, you can start selling thrift wear popularly known as okrika. Plenty of people prefer buying Okrika to brand new clothes.
Moreover, the poor economy of the country has made people buy what they can afford and not what they wish to buy.
Where To Buy Okrika Clothes In Lagos are:
- Balogun Market
- Yaba market
- Aswani market
- Oshodi market
- Katangua market
- Badagry market, etc.