Top 10 Most Profitable Businesses in Nigeria with Low Capital in 2024

Finding the most profitable business in Nigeria with low capital in 2024 could be the start of something great, either for raising income or for long-term purposes.

Many people have yearned to get into business, but as much as they have yearned, finding out the starting cost strikes them because they don’t have enough capital.

Though numerous, the most profitable businesses in Nigeria with low capital 2024 could be challenging to find those that require the most minor capital to start in 2024.

At times, you may come up with a small business idea but find out that it is hard to start, whereas easy business ideas require little capital.

Of course, this is not so! It’s a long list, but there is a considerable list of profitable businesses in 2024 that you can start in Nigeria with little money.

And right here in this article, we will reveal them all.

Without wasting time, let’s get straight to the point!

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1What is the most profitable business in Nigeria?

2Top 10 most profitable business in Nigeria with low capital 2024

3What kind of online business is most profitable?

4What is the most profitable importation business in Nigeria

5What is the most profitable agricultural business in Nigeria?

What is the most profitable business in Nigeria?

Any person who wants to start a new business will ask what is the most profitable business in Nigeria.

If you’re looking for the most profitable business in Nigeria to start with low capital in Nigeria and make a lot of money, becoming a real estate agent is good to try.

It was reported that some parts of the country pay real estate agents as high as a commission of 3 million Naira on a successful deal.

This business involves being a middleman between the owner of the property and the buyer and/or tenant of a property, then getting paid a certain percentage of a successful deal.

These properties can be homes, apartments, lands, etc.

You can be a real estate agent anywhere in Nigeria; the business requires almost nothing to get the startup.

You must link up the property sellers with the buyers and then make your money.

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Top 10 most profitable business in Nigeria with low capital 2024

The top 10 most profitable businesses in Nigeria with low capital in 2024 include:

1. POS Business

The first and most profitable business in Nigeria with low capital 2024 to start is the POS business.

Finding a street without a POS agent in Nigeria is tough.

POS business entails completing ordinary bank transactions—cash deposit, transfer, withdrawal, etc.—on behalf of people in exchange for a fee.

Anybody can easily start a POS business irrespective of your location.

You can become a POS agent in Nigeria with less than 50,000 Naira, as many banks issue POSs on a cautionary fee, which is not so expensive.

One could make a lot of money out of this business, as it is a means of earning money every day.

2. Small Scale Poultry Farming

One of the most profitable agricultural businesses in Nigeria is small-scale poultry farming. If you have space in your house, probably in the backyard or a spare room, you can do this.

Small-scale poultry farming can be a side hustle since you can begin with a few chickens that don’t require so much stress to breed.

This business can be started anywhere in Nigeria with less than 50,000 Naira since all you need to get started is their shelter and the provision of feed and water.

The gain from this business is enormous, as a 2-month chicken can go for anything from N4,000 to N6,000.

If all survive, you can start small with 20 chicks and make from N80,000 to N120,000.

3. Freelance Writing

If you are a student looking to start a profitable online business in Nigeria with little money, freelance writing is one good business to try. You can work at any time you desire and make money online.

This involves writing stuff online, such as blog posts, resumes, copywriting, etc., and getting paid.

First, you need a smartphone and good internet.

Log in to freelance websites available in Nigeria, such as Fiverr, Upwork, PeoplePerHour, etc., sign up, create your gig, and you’re good to go with the orders.

4. Affiliate Marketing

Affiliate marketing is another profitable online business in Nigeria that does not require much or no money.

The business is very profitable and easy to start. It’s simply a form of internet marketing in which one recommends products to people and gets a commission on the purchase of those same products.

There are a number of affiliate programs in Nigeria, and you can start with little or no experience to make money through affiliate marketing.

You can also start this business with minimal risks or, in some cases, even completely risk-free because you might not even need any money to begin with.

5. Car Wash Business

The car wash business in Nigeria is a source of passive income and one of the most profitable businesses in Nigeria, with low capital in 2024.

One can easily start this kind of business, and it can be located anywhere.

Unlike before, a car wash business is becoming more popular and profitable in Nigeria, as some washes within the country charge up to N3000 for one vehicle.

You may go mobile or open a shop. Either way, you can start with almost any amount.

6. Photography Business

Another profitable business in Nigeria requiring low capital is a photography business.

You will have to acquire photography skills to start this business. The business can be located anywhere in Nigeria.

There are so many ways to start this business, including owning your own photography studio, attending different events, and taking people’s pictures.

You can get started regardless of your gender, as a lot of women do business.

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7. Cook-On-Demand

If you are searching for the most profitable business in Nigeria with low capital 2024 for cooks, rendering a cook-on-demand service is one great business.

This business is pretty new in Nigeria. It’s about getting orders to cook for an individual at a time and then getting the food delivered to them by yourself or with a dispatch rider.

It is very lucrative and doesn’t require huge capital to begin. However, the business is not very popular in many parts of the country. If you live in Lagos or Abuja, there is a market for it.

8. Start a YouTube Channel

Starting a YouTube channel, another profitable online business in Nigeria where people post videos and make money.

Some people don’t know that their favourite YouTubers make money from the videos they make on YouTube.

You can start a YouTube channel like blogging and then monetize it with Adsense. You get paid whenever someone watches your video.

One can also monetize a YouTube channel through brand partnerships and affiliate marketing.

9. Laundry Business

If one is looking for a business to do in Nigeria with less money from home, rendering a laundry service will be good.

This business is not just lucrative; it makes you money every day.

You can start a dry-cleaning business with any amount in Nigeria because there is very minimal equipment needed for the operation of the business.

Anybody can engage in this business anywhere in the country, locally or with advanced equipment.

10. Sales of Cosmetics

If you think of the most profitable business in nigeria with low capital 2024 for women, try the cosmetic business.

It involves selling all types of cosmetics and beauty products, such as foundation, powder, mascara, and lip gloss.

With makeup being among those things that most Nigerian ladies can’t do without, you wouldn’t have to sweat so much when it comes to sales.

You can take off your cosmetics business from home by selling online or renting a shop for it.

A cosmetics business’s profit margin could be 30% to 50%, and it wouldn’t take millions of naira to start.

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What kind of online business is most profitable?

Blogging is the first and most profitable online business in Nigeria to start.

If done correctly, this business has the potential to make you millions of naira within 18 months, and you can get started with less than 5,000 Naira.

Blogging involves sharing information online through your website. This information can be news, music, tutorials, etc.

First, you only need a smartphone. Purchase a domain, launch your blog, and begin making some money through affiliate marketing or monetization using ad networks once you start posting.

Another profitable online business in Nigeria is graphics design.

You will list some graphic design gigs on freelance websites like Fiverr, Upwork, etc.

You do not need any money to start this business because it only requires a smartphone or PC.

Get a graphics design skill from YouTube; afterwards, you can make money selling your service online.

Students can do business part-time because they can work whenever they like.

What is the most profitable importation business in Nigeria

Another profitable business in Nigeria 2024, which you can start with small money, will be mini importation.

This business has been going on for a long time, making people crazy amounts of money starting with as little as 10,000 Naira.

Mini importation basically involves buying products at very low prices from China, shipping them to Nigeria, and selling them at a good profit.

It’s a very lucrative business. You can buy a pair of trousers from China for N1000 and sell them in Nigeria for N3000.

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What is the most profitable agricultural business in Nigeria?

If you like agriculture and ask yourself, What is Nigeria’s most profitable agricultural business? Cassava farming could make you millions in the long run.

Nigeria is among the world’s top cassava producers; hence, there is already a ready market for this business.

You can start on a small scale, with about 100,000 nairas, and make up to 300% ROI after harvest.

An additional agribusiness that requires little capital to start in Nigeria is maize farming.

Unlike cassava farming, which takes about a year before harvest, you will get your money back within three months after maize farming in Nigeria.

Maize farming can be done in every part of the country, but seasons may differ.

A little knowledge in farming and a minimum bankroll of 50,000 Naira would suffice as startup capital to begin maize farming in Nigeria.

FAQs

What are the most profitable businesses in Nigeria with low capital?

Some of the most profitable businesses in Nigeria include mini importation, agriculture, foodstuff sales, and mobile phone accessories.

How much capital do I need to start a small business in Nigeria?

Depending on the type of business, you can start many profitable businesses in Nigeria with as little as ₦50,000 to ₦100,000.

Is agriculture a good business to start with low capital in Nigeria?

Yes, agriculture is another profitable business in Nigeria. You can start small with poultry, fish farming, or crop cultivation and gradually expand as you reinvest profits.

Can I run a profitable online business in Nigeria with low capital?

Absolutely! Online businesses like dropshipping, freelancing, and digital marketing services require low capital.

What challenges might I face when starting a low-capital business in Nigeria?

Some common challenges include accessing financing, inconsistent power supply, and navigating government regulations.

Conclusion

Now, while talking about the most profitable business in Nigeria with low capital 2024, we are talking about businesses that cost 100K or less to start.

With this article about the top 10 most profitable business in Nigeria with low capital 2024, whether you have a couple thousand naira or nothing, I believe you will find the best business for you, wherever you may be in life.

So don’t lose any more time! Get started now and begin earning.