Last Updated on July 20, 2021 by Ope Quadri
There are several underrated businesses you explore in Nigeria that can really fetch you thousands of Naira weekly. The major problem is that a lot of Nigerian graduates value white-collar jobs than start small to grow big.
In this post, we’ll share with you real estate marketing and the top 19 profitable business ideas you can explore to make more money in Nigeria.
Why do you need to start your own business?
There is no other better time to start your own business wherever you are than now, most especially in Nigeria where unemployment is growing exponentially.
In 2019, the World Bank listed Nigeria as one of the top 20 countries that improved in the ease of doing business.
The global financial institution submitted that Nigeria has now become one of the countries with ease of doing business.
For instance, a few months ago, the Federal Government launched CAC free business registration for small businesses.
It was the first of such in Nigeria. Right now, you register your business on the official portal of the Corporate Affairs Commission and get your E-CAC certificate.
You might want to ask…
Which business can I explore to make more money?
Here is the list of 20 businesses you can start in the comfort of your home and grow big.
- Property Management
- Ride-hailing business
- Delivery business
- Property Management
- Information products marketing
- Running errand
- Livestock farming
- Date reseller
- Exporting locally available agricultural products
- Selling baby products
- Cloth repackaging
- Domestic cleaning
- Real estate multi-level marketing
- Selling cement in new sites
- Mobile money agents
- Sales of mobile phone accessories
- Real Estate Marketing
- Solar installation business
- Snail Rearing and Marketing
- Foreign exchange trading
The good part, you can use social media to market some of the services you offer, and you’d be amazed at the result you get.
Charge people for the service you render and make cool money
This is another profitable venture in Nigeria. Property management is the act of managing other people’s property and get a certain percentage.
If you’re commissioned to manage four 3-bedroom flats where the rent is N400 per year and there is a 10% agreement between you and the owner of the apartment.
That means you get N40,000 on each of the plots.
The first you need to do is build trust, you would be amazed that hundreds of Nigerians out there need a trustworthy person to manage their property for them.
We’ll delve more into how to start a property management company in our subsequent post.
This needs no big introduction most especially for someone who resides in cities like Lagos, Ibadan, Abuja, and Abeokuta.
As a driver with any of the major ride-hailing companies in Nigeria, you can earn up to 40,000 per week or more.
One of the Uber drivers we chatted with revealed to InfomediaNG that the minimum he makes per week is N45,000. That is N180,000 per month.
The guy said, he once made N70,000 per week during one of the festive periods.
Don’t forget that the ride-hailing business also has it challenges like attacks from some fraudulent riders etc.
The fact is that every business has its challenges, you shouldn’t let that discourage you from taking action NOW.
The delivery business is similar to ride-hailing because it falls under the transportation sector and it’s one of the coolest profitable ventures you can start now.
You can use social media to get customers. Most startups in Lagos, Ibada, Abuja, and other major cities in Nigeria need the services of a delivery firm, product delivery is very important to their survival.
Information products marketing
Recently, a federal lawmaker, entrepreneur, and motivation speaker Akin Alabi tweeted on how to make cool money from information product marketing.
While advising some young lawyers on how to leverage their expertise, he tweeted:
“If you are a struggling lawyer, pick a niche and share loads of information on it. Position yourself as an expert on it.
“It could be properties law, gambling law, tax laws, copyright laws etc. Build social media following. Build an email list. Sell information products.”
This is similar to the delivery business, you can also run an errand for small companies and individuals.
You don’t need millions of naira to get started. You can started with an errand company with just a bicycle and make good money from it.
Another profitable business you can start is livestock farming. Wondering on how to get started?
You can get investors through platforms such as Piggyvest. Some of the livestock business you can explore are catfish farming, poultry farming, snail farming, cattle grazing, goat rearing etc.
If you don’t have the financial capability to design a data-selling and recharge website, you can sign up with some of the already existing ones.
Subscribe to one of the small packages, you get the data or recharge at a discounted price, you sell and make money.
Exporting agricultural products
Thousands of Nigerian in the diaspora are in dare need of locally made Nigerian agricultural products.
Products like melon (egunsi), Ugu, leather meat (ponmo), crayfish etc are in high demand in the United Kingdom, United States, Italy, and other countries where Nigerians reside.
A lot of Nigerians are making millions of Naira from exporting locally produced agricultural produce to UK and USA.
Build trust, learn how to preserve the product, learn about export and the right channel to use to get your products across to the world.
Selling baby products
Thousands of women give birth to thousands of babies every day in Nigeria. Professor Yomi Fawehinmi, says the trend of new babies being born presents an endless opportunity for entrepreneurs to explore.
The former lecturer at the University of Lagos (UNILAG) says selling baby products like pampers, children’s clothes, baby foods, etc. is a worthy venture.
Strategically locate a busy clinic and begin to sell.
If you haven’t been to Isale-Eko, Lagos, Yaba and other popular markets are known for selling second-hand clothes, you’re definitely missing out on something.
In case you don’t know, most of the boutiques you see around buy second-hand clothes in these markets, they watch, iron, use enticing fragrance on them, package them in nylon and resell.
When they complete the process above, most of them make more than 100% profit on the clothes.
For instance, you can resell a cloth you bought for just N500 for N1,500 or more depending on the quality of the material.
How much you need to start a cloth repackaging business?
With just N50K or less, you are good to go.
This is similar to a laundry business is domestic cleaning. A lot of apartments around Lekki, VGC, Ikeja need the services of a cleaner.
The good part, there are now cleaning firms which can be found across the state, they started small, growing big and now employing graduates to do the job for them.
You can start your own today!
Real estate multi-level marketing
Have you heard about multi-level marketing? MLM is now in real estate and you can make as much as N400K or more from this business.
PWAN is the first real estate company to introduce MLM in real estate and the model has produced thousands of business owners today and it’s one of the profitable businesses you can start.
Do you want to know more? Call or WhatsApp me on Zero eight zero six five two seven seven seven five eight
Selling cement in new sites
Locate a developing area to start selling cement. Many construction engineers will most likely prefer buying from sellers close to the construction sites to avoid delays and other hassles related to logistics.
Mobile money agents
POS business is growing exponentially in Nigeria because most people prefer to use money agents in their location than going to banks where they could spend hours.
We already put a guide together on how to become SANEF mobile money agent in your street. With just N10,000, you start a mobile money service with Shared Agent Network Expansion Facilities (SANEF), an initiative of the Central Bank of Nigeria (CBN).
Sales of mobile phone accessories
As of 2019, Nigeria has 172 million mobile phone users, making the country 7th in the world.
This is a business potential you can explore by selling phone accessories. You can order the phone accessories from China at a cheaper rate and sell to phone users in Nigeria.
Solar installation business
The effort by the government to fix power in Nigeria has been abortive since 1960. With the unhealthy noise of power generators, many people now opt for solar inverters.
With a growing demand for inverters by middle-class Nigerians, the Solar installation business is a worthy venture you can explore in Nigeria and make money.
Real Estate Marketing
If you are one of those complaining that there “no money”, it’s advisable to change your orientation.
Hundreds of Nigerians at home and abroad are buying and investing in real estate and property back home.
The good part, real estate companies that sell the property are ready to pay 10% or 15% commission on the sale you made.
For instance, if you close a sale on a property value at N40,000,000, you get N4,000,000 as commission.
A lot of real estate agents in Lagos, Abuja are even making more than this on a sale.
The business doesn’t affect your job at the office and you can use social media platforms for marketing.
Talk to me if you want our e-Book on Real Estate marketing and you can start immediately.
Some of the things you get in our e-Book include the
- Best company you can market for high commission,
- Best time of the day to post your product to get a high conversation rate
- How to use social media for real estate marketing
- How to build trust for you to get customers and lots of takeaways. Call or WhatsApp me on Zero eight zero six five two seven seven seven five eight.
Foreign exchange business
Buy and sell US dollars or buy and sell Pounds sterling or any other foreign currency to make money.
We‘ll teach you how to start this business, all you need to know will be provide for you and how to get customers and the best places to sell to make a good profit from your trade.
Ready to start your own business? Take action and start making money. Let me know if you have questions.
Ope is the Head of Content at InfomediaNG. He’s a researcher whose interests cut across real estate investment, stocks, financial technology, and youth empowerment. He’s awesome in Content Marketing and SEO. Favourite Tools: Google Analytics, Canva, UberSuggest