Top 12 Most Popular Lucrative Business In Nigeria (UPDATED)

Entrepreneurs are the rock stars of the business world. We read about them constantly in the press, many people wish they could be them, and we hear that people who invest in them make a lot of Money. Unfortunately, until recently, only the richest among us could invest in entrepreneurs (technically, in their companies)—but not anymore. Croudtrading has created a platform where anyone can go online to invest in early-stage companies in exchange for ownership shares or earn passive income.

Are you looking for a Lucrative Business in Nigeria that you can start? All that you are looking for is available in this article. There are so many lucrative businesses in Nigeria for you, but we highlight the top 12 trending ones you can start making money with immediately.

Top (12) Most Popular Lucrative Business In Nigeria

We will start in descending order to explain the performing best online jobs in Nigeria.

12. Chemical-Based Product

11. Car Tracker Installation

10. Start Mini Foodstuffs Exportation from your homes.

9. Mini Agro Products and Foodstuffs Export, Highly Profitable.

8. Dropshipping

7. Boutique

6. CopyWriter

5. Car Wash Business

4. Barbershop

3. Cake and Cupcake Bakery

2. Taxipreneur (Driver for Taxi companies)

1. Information Technology

12. Chemical-Based Product

The production of chemical-based products in Nigeria is a very lucrative business that has been increasing with time. The demand for these products is increasing day by day due to the fact that it is fast replacing other materials that have been used in the industry like plastics and metals etc. These chemicals help us to improve our lives by making life easier, healthier, and more convenient.

11. Car Tracker Installation

This is a highly profitable and lucrative skill that is in high demand right now, but only a few people talk about it.   The skill can be learned and mastered in two weeks and then offered as a service to large organizations such as;

• Government
• Churches
• Companies
• Private organizations
• Plus Plenty of Other Others

With these SKILLS, you can make more than ₦200k each month, depending on the situation.

Do you know what the most interesting part is?

• No engineering experience is needed.
• No technical knowledge is required.
• You are not required to have any knowledge of cars.
• You do not need to know how to drive a car to participate in this activity.
• Not even a university diploma or a school certificate.

All you need is;

• The willingness to learn and a positive attitude
• The ability to concentrate.

If you meet these two requirements; You have what it takes to be a successful car tracker installer, so congrats.

This opportunity is open to only a few people that are serious about being financially independent. This is Not For You if you’re;

• Lazy
• Ponzi scheme Person
• Earning Up to N150k Monthly

10. Start Mini Foodstuffs Exportation from your Homes

One myth a lot of people believe about Exportation is that it is a business for the rich as it is a bit capital-intensive. Of course, exporting other materials like cars, building materials, etc., are expensive, but not so with the Exportation of foodstuff.  As funny as it may sound, it is as easy as sending goods from Lagos to Port Harcourt via a courier service.

Due to the rise in the dollar, venturing into this business could be very lucrative.

All you need is the right information, and you’re on your way to making LOTS OF MONEY exporting common foodstuffs; that’s why we teach only serious people who are willing to learn.

I welcome you all to these businesses; it’s my earnest desire for you to succeed and become great Exporters.

9. Mini Agro Products and Foodstuffs Export, Highly Profitable.

I know of people racking a lot of income from this business in Nigeria weekly, those I have trained, and others who had been long into it. This is a great business, I tell you.

How Can You Start from Home?

Start Your Own Mini-Exportation Of Agro products like Melon, Dry Fish, Bitterkola, Garri, etc., to Over 20 Countries, Including the United States & UK.

Agro Products and Foodstuffs Export benefits;

• It’s simple to send out fast.
• You can do business from home.
• You can start with very minimal funds.
• It has the tendency to give you a 155% return on investment.

Most importantly

• it’s majorly the value you add to yourself and to others.

Agro products Export offers you a means to several Ends!

Most Agro products export business does not require you to do the processing as you can buy the processed ones and export them like it’s bought from the processor or dealer.

All you need to do is package it.

Cocoa seed, Bitterkola, and many other agro products and foodstuffs Exportation have been one of the major means of Revenue to our Beloved Nation Nigeria before the oil boom. I’m extremely sure you know this already; that’s why you are here.

However, it’s a huge business in Nigeria. Well, it depends on what you are looking at to achieve your financial goal of making Extra Income AND having multiple streams of Revenue.

You can just end your search for how to make extra income today!

I can tell you BOLDLY that selling AGRO PRODUCTS on International Food Market is a GREAT business in Nigeria you need to consider.

Do you wish to be among the set of people making a cool profit from these agro products?

For most people, it will be a trading or service-based business in Nigeria, but I see things differently.

• Nigeria is among the top 4 producers of raw cashew nuts in the world. Nigeria earns N144.7bn from cashew export – Ripples Nigeria
• Nigeria is among the top 7 growers of top-quality non-GMO soya beans in the world.
• Nigeria is one of the top growers of top-quality non-GMO sesame seeds in the world.
• Our ginger is the best on this planet.
• We are the highest producers of yam tubers in the world.
• Our Shea nut (Ori or Mankade) ranks among the best for its high oil content.

Now, 99% of all these are exported raw to India, China, Bangladesh, Vietnam, Japan, Europe, and the Americas. There they are processed to meet international demand.

• A kilo of raw cashew nut sells for $1.9/kg.
• A kilo of processed cashew nut sells for $5/kg (as of Feb 2018).
• Vietnam is the biggest consumer of soya beans on earth, they consume 10m tons. Brazil, Argentina & Canada supply over 80%, the US offers less than 10% while the rest is sourced from the rest of the world. They are aware that what they import from the Americas is GMO crop-but it comes cheaper, cleaner, semi-processed (when required) well packaged. Ours is natural cultivation, more expensive, dirty, and poorly packaged.
• Rice production has so ramped up that most mills are overwhelmed.
• Only one mill processes Shea nut in Nigeria,
• None that I know processes sesame seed to oil.
• There is no proper storage for ginger in Nigeria, so excess crops are totally lost after a few months.
• Only a few companies bother to process ginger in Nigeria.

My focus is on the agro-processing business in Nigeria because it is: viable, sustainable (if well run), provides much direct and indirect employment, farmers produce more when they have ready off-takers, and processed commodities cost more in the international market, so it’s a dollar revenue earner for the owner of the business in Nigeria, the economy in general.

8. Dropshipping

This is one of the new and very lucrative business ideas in Nigeria today. It is one of those businesses you can start with low capital.

All you’ll need is a laptop or smartphone, an internet connection, and your social media platforms, e.g., Twitter, Facebook, and Snapchat (any of these could serve as an online shop). You generate huge money drop shipping business in Nigeria.

The secret of the business in Nigeria is identifying and knowing what the people are in need of at a particular moment and knowing where and how to source those items.

7. Boutique

The fashion industry is one powerful sector that will always be vibrant in any economy because all over Nigeria and the world at large, people have a basic need for clothing. Hence, launching your own boutique is a lucrative business in Nigeria.

Beyond this need, fashion is ever-evolving due to the huge and diverse interest in styles and wants. Starting a clothing shop boutique business is a profitable business here in Nigeria, especially if you focus on ladies’ wear.

Ladies love fashion and styles, it is not out of place to say that it is a business that will interest you and be fun to grow as you expand.

6. CopyWriter

Do you consider yourself a content writer? Then setting up your freelance content development could be a lucrative side business in Nigeria that 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 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 in Nigeria that you can be a part of.

5. Car Wash Business

The car wash business is another moving lucrative business in Nigeria. The need for a car wash will always be on the increase, and anyone, irrespective of age and experience, can venture into this business in Nigeria.

The car wash business in Nigeria is very lucrative as most car owners don’t have the time to wash their cars by themselves. Some of them might not also have gatemen at home to help them out.

Hence, considering their busy schedule, the next available option is to go for a car wash. The requirements to start a car wash business are the space that can be rented, the source of water supply, and the washing machine to be used. You can also go a step further to make your customers comfortable while they wait by installing a TV set in the sitting arena.

4. Barbershop

Barber shops are a lucrative business to start within Nigeria. I would like to explain how and what is needed to start a barber shop business in Nigeria.

1. Firstly, you need to have the skills, which is very important. Without these, you may have challenges in the short run or long run. In case you don’t have the skills, all you need to do is to be an apprentice for some months under a professional barber to learn and understand everything about barbing. If you don’t have the skills but have the money to finance the business, you are good to go like-wise. I will explain it better at the end.
2. Locate a suitable location for renting a shop. It is advisable to get the shop in a residential area. Also, it will be of great advantage if it’s by the roadside. If it’s not by the roadside, let it be easily accessible.
3. Make your shop very attractive. This is the touch point and the first impression. This will drive more customers to the shop. A slight furnish that will be very attractive. You may include a beautiful pattern design on the wall. Make sure you have a mirror (big one) in front and at the back. If possible, include a mirror by the sides too. Make a colorful painting of it.

The necessary equipment needed for a barbershop business in Nigeria is

1. Clipper, which can cost you in the range of N2,000 to N15,000, depending on the quality. Preferably, choose a clipper that can be recharged.
2. Clipper sterilizer, which can cost you N12,000 to N35,000.00.
3. Head warmer, which can cost you N25,000 to N40,000 depending on the quality.
4. Barber’s chair, which can cost you N30,000 to N90,000 depending on the quality.
5. Plasma TV/Flat TV, which can cost you N35,000 to N80,000 depending on the quality and the size.
6. Sound system, which can cost you N25,000 to N60,000, depending on the quality.
7. generator, which can cost N35,000 to #100,000 depending on the quality and size.
8. Long chair for the next customer to sit on-site while waiting.
9. Others are combs, powder, aftershave, covered cloth, and so on.

When everything is set, make sure you have all the requirements before officially opening the shop. Make sure your business is registered with CAC (corporate affairs commission), and you have your TIN (tax index number). This will save you a lot when you open. Incase If you can go through this process, kindly try and join a barber’s union. With this, they can satisfy you as a registered barber under their terms and conditions, which simply means you must comply with their terms and conditions, including their tax payments, etc.

The final thing is to open the shop officially. Note that there is something you need to do (first six months of opening) in order to drive more customers to your shop before and after the shop’s opening. If the resources are available, you may get CCTVs in the shop, especially if you are not the one that will be monitoring and managing the shop.

On the other hand, if you have money and you don’t have the skills, you can still make Money in the business, but it’s very important that you have knowledge about the business. This is a normal phenomenon before you venture into any business. The investor has two crucial options: he can either look for someone who is in need of starting the business in Nigeria. With your money, get a shop at a good location for him, Beautify it, and furnish the shop. Get a sound system, a generator, and a plasma TV. The bottom line makes the shop very attractive and to the taste of the beneficiaries.

So, after everything has been set, you can either lease the shop out to the stylist while he makes use of it and gives you a return weekly or monthly on the basis of an agreement with respect to the total worth of the shop. So, after paying the money, he owns all of the equipment and the shop. On the order side, you can give the shop out on a return basis, whereby the beneficiaries use the shop and share the profit with the owner.

3. Cake and Cupcake Bakery

In our society today, events are endless – from weddings to birthdays, anniversaries, and end-of-year parties.  This presents a huge opportunity in the baking industry.

Baking, decorating, and selling unique cakes and cupcakes for such occasions is a great business idea for the hobby baker to venture into and one that is potentially lucrative.

Without an atom of doubt, baking is a very lucrative business in Nigeria to start. You can get started on a very small budget by baking and decorating your cakes right from the comfort of your kitchen.

An effective marketing strategy is to forward your cake samples to interested parties and party planners to ensure they partner with you when the need arises, or you can showcase your works on Instagram and Facebook using the most effective hashtags that drive sales.

A cake and cupcake bakery is one of the best business ideas for ladies or women in Nigeria; where you produce to make Money, you can go for it.

2. Taxipreneur (Driver for Taxi companies)

We all know that Taxi is really common in places like Lagos and a few other parts of Nigeria. Most people choose to become Taxi drivers because of the freedom that comes with it.

Besides, it is one of the lucrative business ideas you can start in Lagos and a few other parts of Nigeria. If you have a car, then you have all it takes to start.

All you have to do is to become part of the Taxipreneurs and start making money by getting your own ride. This is an opportunity to manage your schedule and work with the time that best suits you.

Some Taxi drivers do full time and others drive at night or during the day. There are a number of startup business ideas in Nigeria that are quite lucrative, which you can start immediately and make a huge profit.

1. Information Technology

I think it doesn’t matter what you studied in school, the internet is flooded with tutorials on how to do several things, and open-source projects are everywhere. Whatever you have an interest in, find a way to add some tech to it. If you can bake, you can market your product online, buy a WordPress e-commerce theme and sell them. Tech is also diverse, and it encompasses all works of life; you have tech startups that are like Uber for a licensed medical doctors.

Conclusion

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 business ideas in Nigeria that can make you become rich. However, we have detailed the list of businesses in Nigeria that are lucrative that you can start 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.

So, if you are planning to start a lucrative business in Nigeria, the best right time was yesterday. The second best time is now. Whether you are a student who has decided to venture into a business during holidays and strikes, or an individual seeking passive income, now is the best time to start a lucrative business in Nigeria with average capital.

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