Nigeria is a country with a burgeoning entrepreneurial spirit and a thriving small business ecosystem, almost every family in this country has a business owner inside, this is simply because you can easily start and manage a business in Nigeria.
The economy can get ugly sometimes but what never stops is businesses thriving, with a population exceeding 200 million people, Nigeria has the opportunities every aspiring entrepreneur is looking for. You also don’t need to be a seasoned business person to run a business here. You can start and manage your business, whether you’re a seasoned business owner or just an entrepreneur looking to make a name for yourself. There are many small businesses you can start and run successfully in Nigeria and here we will list 20 Small Business Ideas in Nigeria for you to consider.
Top 20 Small Business Ideas in Nigeria
Restaurant or fast food business
This is one business idea that has never failed, if you understand how to run this business very well, you will make it. Restaurants and fast food businesses serve meals and snacks to customers for dine-in, takeout, or delivery. Nigerian cuisine and fast food options are popular among locals. To get started with this business, you need to choose a strategic location, develop a menu featuring local and international dishes, invest in kitchen equipment and furniture, ensure food hygiene and safety standards, and promote your business through signage, social media, and food delivery platforms.
Bakery and confectionery
Just like the restaurant business, bakery businesses thrive in Nigeria a lot. Bakeries produce bread, pastries, cakes, and other baked goods for retail or wholesale distribution. With the high demand for baked products in Nigeria, it’s a profitable business idea. If you want to start this business, you need to obtain the necessary permits and certifications, set up a bakery facility with baking equipment and storage areas, develop recipes and product offerings, ensure quality control and food safety, and establish distribution channels through retail outlets, supermarkets, or delivery services.
Dry Cleaning and Laundry
This is a start small business idea. Dry cleaning and laundry services provide cleaning, pressing, and garment care for clothing, linens, and fabrics. It’s a necessity for busy individuals and businesses seeking convenience and professional cleaning services. You will need training to start this business, once you are done, set up a dry cleaning facility with industrial washing and pressing equipment, you can hire trained staff and offer pickup and delivery services as well.
Start agro-business
With vast arable land and favorable climatic conditions, agriculture remains a lucrative sector in Nigeria. Small business opportunities in agriculture that you can start with just a little cash include crop cultivation, livestock farming, poultry, fish farming, and agro-processing.
You can start a vegetable farm specializing in high-demand crops such as tomatoes, peppers, and onions.
In addition, you can also explore opportunities in livestock farming, such as poultry (chicken, turkey), snail farming, or fish farming, to cater to the growing demand for protein sources.
Finally, you can invest in agro-processing by establishing food processing, packaging, and distribution facilities.
With agriculture, there are just many opportunities that you can take advantage of.
Mobile phone repair business
As a mobile phone repair business owner, you will offer repair and maintenance services for smartphones, tablets, and other electronic devices. Nigeria has a widespread use of mobile devices so there will always be a market for you. Before you start this business, you must acquire the technical skills in mobile phone repair, invest in repair tools and equipment, set up a repair shop or service center, and offer fast and reliable repairs.
Real Estate and property development
Nigeria’s growing population and urbanization present a constant demand for housing and commercial properties.
You can consider investing in real estate development, either residential or commercial, to capitalize on the housing deficit in major cities. There are opportunities in property management, real estate brokerage, or vacation rentals.
Food processing and catering business
Nigeria’s diverse culinary landscape presents opportunities in food processing and catering services.
Start a small-scale food processing business, specializing in packaged snacks, beverages, or condiments.
Offer catering services for events, parties, and corporate functions, focusing on delivering delicious and hygienic meals.
Renewable energy solutions business
With the increasing demand for sustainable energy sources, renewable energy presents promising business opportunities.
You can start a solar energy installation and maintenance business, you will provide services to residential and commercial clients.
Offer energy-efficient solutions such as solar-powered water heaters, LED lighting systems, and solar-powered appliances.
Health/wellness and fitness business
As the awareness of health and wellness grows, there is a demand for products and services in this sector.
Here, you can start a fitness center or gym offering personalized training programs and group classes. There is also an opportunity for holistic health services such as yoga, meditation, and massage therapy.
You can also launch a health-focused restaurant or meal prep service offering nutritious meals and dietary plans.
Mini importation business
This business involves importing goods in small quantities from countries like China and selling them locally at a markup. You can import common items like fashion accessories, gadgets, household items, and electronics. To start this business, you need to research profitable products, find reliable suppliers, understand import regulations, and establish sales channels such as online marketplaces, social media, or physical stores.
Barbing salon business
Barbing salons offer grooming services such as haircuts, shaving, and hair styling for men. It’s a profitable business in Nigeria due to the constant need for personal grooming. To do this business in Nigeria, you need to rent or lease a suitable space, invest in quality barbering tools and equipment, hire skilled barbers, create a welcoming ambiance, and offer excellent customer service.
Beauty and personal care business
The beauty industry is thriving in Nigeria, it is driven by a growing consumer base and increasing disposable income. You should start a beauty product line specializing in skincare, haircare, or cosmetics using natural and organic ingredients. In addition, you can launch a beauty salon or spa and offer services like hair styling, manicure/pedicure, facials, and massages.
Event planning and management business
With a vibrant social scene and a culture of celebrations, event planning and management services are in demand. Start an event planning company specializing in weddings, corporate events, or social gatherings. Offer comprehensive event management services like venue selection, catering, decor, entertainment, and logistics. Provide event rental services for furniture, tents, audio-visual equipment, and other event essentials.
Waste management and recycling business
With the high rate of urbanization, there is a need for effective waste management and recycling solutions. You can start a waste collection and recycling business and focus on materials such as plastics, paper, glass, and metals. You can offer your services to residential complexes, commercial establishments, and municipal authorities.
If you are a Nigerian, there are many business opportunities out there that you can start, the good thing about Nigeria is that it is a great place for business to thrive when managed very well. You can start with the little you have and grow gradually, it may take time but, you can achieve your target after a while. Whether you’re passionate about agriculture, technology, hospitality, or any other industry, there is demand for many businesses in Nigeria.
