The recent economic recession and the high unemployment rate in Nigeria have proven that waiting for government jobs is deadly. Entrepreneurship is the only way out if the economy must grow and its citizens survive the hard times. Government and World Bank loans have been disbursed through the various micro-finance and cooperative banks across the nation to service SMEs. These loans can also be difficult to grab too considering the number of pending applications, hence, you have to make do with the little you have or can generate through friends and family. You can always start from scratch and build your way up. Note that it is not going to be a stroll in the park, but it will be worth every sweat in less than no time. Read on to see 22 businesses you can start up with 20,000 – 50,000 in Nigeria.
Why waste your time as a graduate? Stop waiting for a job that might not satisfy your desired wealth when you can build your own empire from scratch.
The business ideas listed here may require certain skills to perform. Hence be sure to read through to know if you can carry it out. start something today.
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A list of 22 Businesses You Can Start Up With 20,000 – 50,000 in Nigeria
- Casual wear business
- Fast Food Joint
- Laundry Service
- Car wash
- Decoration business
- Fresh Fruit Business
- Nanny services
- Errand Services
- Fan milk business
- Yoghurt business
- Household business
- Minerals business
- Bakery business
- Sweet Food Business
- Raw foodstuff business
- Palm oil or vegetable oil business
- Detergent and soap business
- Pesticide and insecticide business
- Frozen fish Business
- Flour business
- Plantain Chips
- Phone Accessories Business
22 Businesses You Can Start up With 20,000 – 50,000 in Nigeria
See below 14 businesses you can start up with 20,000 – 50,000 in Nigeria:
1. Casual Wear Business
The cloth market in Nigeria is quite vast and encouraging. You can easily buy and sell casual wears with ease. With a startup capital of N5,000, you can start a casual wear business in Nigeria. You can buy casual clothing from Idumota market in Lagos, Ariaria in Aba (depending on your region) and sell it in your community.
2. Fast Food Joint
Take it or leave it, some food at a local canteen on your street is better than the ones served in many big eateries nationwide. I know of people who opened little food spots in Lagos, Calabar, Port-Harcourt, Aba and Uyo about 3 years ago and are cruising in their cars today. Just cook good meals, keep the environment clean, serve the food warm/well, and own a good attitude. You can starting a Fast Food Business with just N15,000. Stop wasting at home I repeat.
3. Laundry Service
Laundry business is another very lucrative business you can venture into. You can make at least N3,000 daily from ironing peoples cloths alone. My laundry guy charges N100 to iron one shirt or long pant and he is married and lives in a 2 bedroom flats not too far from my house. He not only irons, he washes cloths, duvet, blankets, carpets and so on. He also does home deliveries at a special price for the ones that are too lazy to come to his shop. The cost of starting a Laundry Service Business is about N18,000. What are you waiting for?
4. Car wash
The trick about this business is that you don’t really have to be the one washing the cars. If you have a space in front of your compound that is not in use and water outlet, why not start a car wash there. There are a lot of people looking for the job. You don’t have to pay them salary: just agree on a percentage and you are in business. All you need to buy are buckets, small bowls, hard brush, sponge, and detergent. All the above listed wont consume up to N10,000. Think about it. Note that to wash one car cost N500.
5. Decoration Business
If you think it is impossible to start this business with N45,000, call Wisdom on +2348032693269 and ask him to tell you how he started his Decoration Business in Port-Harcourt and later decorated the Abia State Government Office. You don’t need to have all the materials required, they are places to rent them from. You can decorate for event planners of occasions like traditional marriages, birthdays, school functions, political rally, carnival etc. This business required more effort than capital.
6. Fresh Fruit Business
Everyone is waking to the realization that fruit consumption can heal a lot of disease before they manifest properly. Hence, the increase in fruit consumption in the past five years. Buy a table, buy fruits, set a stand for yourself on the street and sell. I bet you people will buy them all and ask for more. Fruits like water melon, cucumber, orange, banana, and apple are in high demand. This is a good business to dive into. It will require about N20,000 to start; but you can increase it as the demand starts pouring in.
7. Nanny Services
Parents are getting more engaged than before and they need a trusted hand to take care of their little children. You can convert one empty room in your house to start up a Nanny business. So far you are good with children and have the patience then you are good to go. You will need to repaint the room to a bright colour that will light up the room, buy toys, and a bed, and few plastic chairs. Acquiring all these is below the N50,000 budget. Start it already!
8. Errand Services
Modern day communal living is the order of the day. You can see this is the erection of estates all over the cities around the country. This is mainly to improve living standards in the society. Most of these estates are so big but don’t make room for shops to be opened. They are designed to be purely residential, so that if you want to buy salt you will exit the estate to buy from the nearest retailer. This is a major problem as 80% of home owners are rich and can be lazy sometimes to go through this rigorous process. You can startup an Errand Service Business and take this stress upon yourself but at a fee.
This business required credibility, integrity, and smartness more than it requires capital. Also, You only need to buy a phone and sim, have a unique and easy name to go by, and market yourself business with trust.
9. Fan Milk Business
Thirst is usually ushered in by the dry season, and you can make a lot of money by becoming a fan milk retailer. You can purchase fan milk and sell it on roads with high human presence/activity. You can sell it to schools, worship centers, schools and so on. This product is on high demand during the dry season.
10. Yoghurt Business
Making Yoghurt is pretty easy. All you need is to acquire the ingredients, mix them properly and package it right. Just like that, you can become a yogurt distributor. You need about 15 – 20 as startup capital. Remember to make sure that you maintain uncompromising hygiene while at it.
11. Household Business
Selling household items is also lucrative and requires little capital. It is a business that can expand in no time if you work hard and develop trust with your customers. People are getting lazy to go shopping for household items and if you can provide quality ones to them you can make it big.
12. Minerals Business
The key to growing this business is patience and reinvestment. Becoming a distributor is pretty expensive, but you can also start small and grow into an empire. There are already existing distributors who have trucks selling to retailers in every street in the country. Buy from them, chill them with your refrigerator or buy ice block and chill them in a cooler. You can make a whole lot from selling minerals, especially in the dry season. Make sure you always maintain product availability by replacing the empties almost immediately.
13. Bakery Business
Baked food is a huge venture now. You can start a baking business with N15,000 and in no time you will realize your capital and profit from your house. In this business, you can make up to N2,000 or N3500 return back on your initial capital of N15,000. All you are required to do is prepare it right, package it right and market it right.
14. Sweet Food Business
Selling Sweet food products is lucrative enough for a business that requires just about N6,000 to start up. With the massive increase in schools all over Nigeria, the target market is as huge too. Students love sweet food products and will always buy from you. You can sell up to N5,000 – N7,000 daily by just selling products of 10 – 20 naira.
15. Raw Foodstuff Business
No matter the level of hardship in the country, people must eat. Start up a raw foodstuff business with N50, 000 and you will make about N5,000 weekly. All you need do is find a good location on a busy street. Note that, keeping the surrounding of your store clean is an additional incentive if you want many people to patronize you.
16. Palm Oil or Vegetable Oil Business
Selling oil is a lucrative business in Nigeria considering the fact that almost all the food we eat is made with oil. For palm oil, you can purchase it from the nearby market or travel to the nearest village to get it at a cheaper rate. To make much money from vegetable oil business, you will need a huge capital too. Notwithstanding, you can still start small and grow your way up the chain of distribution. Both businesses listed here can be done with a capital of N50,000.
17. Detergent and Soap Business
There are two lucrative options under this business you can pick from. Become a distributor or you produce detergent and soap by yourself at home. This business can lead to millions of Naira considering that soap is a necessity for everyone in the society. Detergent and soap are and will always be sort for year in year out.
18. Pesticide and Insecticide Business
On a daily basis, pest and insects are becoming resistance to existing pesticides and insecticides. Hence there are new pesticides and insecticides produced to still kill the creatures. If you can carry out a market survey and identify the new products that are more effective than the old ones, I will say you have made it. Just market it right to 5 people and watch the recommendations from them pour in. N3000 or N5000 is a good enough capital.
19. Frozen Fish Business
Meat can be expensive sometimes and the growing world healthy living programs support fish consumption over meat. Storage is mostly the problem associated with this business in Nigeria as electricity supply is low; but you can still start small. You can buy half cartoon of fish for a start and sell. If you have leftovers and there is no light to preserve it, smoke the fish and people will still buy it.
20. Flour Business
fast food is the order of the modern world of today and the main ingredient is flour. You can sell to housewives and individual that produce egg-roll, puff-puff, meat pie, pizza, shawarma and the rest. You can start this business with N50,000 as a sub-distributor or retailer in any part of Nigeria.
21. Plantain Chips
A two hundred naira plantain can fetch you at list four hundred naira profit in a space of 30 minutes. You can buy plantain from the nearest market and fry, package it properly and sell it by the street, in school or even distribute it to shop owners. People love to chew and plantain chips comes in handy at this moment.
22. Phone Accessories Business:
Every now and then someone needs a phone charger, an earpiece, screen guard etc. The list is endless and the capital to set this business up is quite affordable. You don’t need to open a stand in a popular tech market; just make sure the place is on a busy street and you will get people trooping in. You can even run a phone charging service simultaneously and increase your income stream.
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