Believe it when I tell you that these days it’s not so friendly in Nigeria. Today, you hear hundreds of people have lost their jobs, and tomorrow, the news bulletin will say that several promising companies have gone down. You begin to wonder if you’re not in a situation, where all doors are closed.
Nigeria is a promising economy with so many natural resources that can help attain the heights of self-dependence. These resources can even be helpful to people who wish to go into small and medium scale businesses.
Seeing things this way, I have put together a list of eight cheap and lucrative business you can start in Nigeria.
1. Freelancing/ Virtual Assistance:
Freelancing is not a new concept, even in Nigeria. A freelancer is a self-employed individual who renders services to clients or an organization from a remote location instead of a physical office.
The most interesting thing in freelancing is that it give you the freedom to choose the service(s) you wish to offer, to whom you wish to offer your service to, and for how long you wish to work.
The service options for freelancers are endless. Here are a few:
1. Software design
2. Website design
3. Graphic designs
4. Theme designs
5. Copywriting
6. Content marketing
7. Editorial services, etc.
These are some top freelance platforms that you can start with:
1. Upwork
2. Elance
3. Freelancer
4. Asuqu
5. Findworka
2. Fashion Design:
Fashion design also known as tailoring, as some call it, involves the design and production of clothes and other clothing materials. In our economy today, the fashion industry is very big.
3. Handcrafts: The handcrafts business is a very profitable one in Nigeria because Nigerians love to wear accessories.
When you decorate your beautiful dress and attire to ceremonies or parties, you are also tempted to wear handmade crafts like native beads that will give your native attire all the traditional touch that it needs.
Handcrafts like beads, earrings, and other accessories can be of benefit to party and ceremony lovers and are some of the most common types of jewelry in Africa. They’re mostly used for beautification, and they do a good job at that!
The demand for these beads has also make so many people to learn how to make them. This is where you can come in. You could learn from vocational centers.
4. Photography:
In Nigeria we are photogenic, beautiful, colorful and lovers of the picture, so you will always get customers if you are thinking of going into this business.
Starting up a photography business in Nigeria with just a camera isn’t a problem. You can start out by becoming a mobile photographer selling your services at weddings, birthdays, and other events without owning a studio or having expensive equipment.
Your requirement: A good camera, memory card, a camera bag, a photo printer, lenses, photo editing software, etc.
5. Tutoring
If are looking for any business that you can get into and be sure of not spending a penny, it going to be tutoring. With tutoring, you will not only make money from teaching, but you also do what you enjoy doing; teaching students.
Today, because of declining student performance in post-primary examinations, many parents are looking for extra alternatives to help their children perform better in school. As a tutor, you may be hired by private schools or go for home tutoring services and teach only the subjects you are comfortable in or what the parents request.
All you need to get you started is to be good in a subject and show a mastery of that subject and you are good to go.
As a tutor, you can earn as much as ₦130,000 in a month if you tutor 2 kids and earn ₦5,000 per day.
You can get started with Tuterial.
6. Small Scale Farming:
The agricultural sector is currently the largest employer of labor in Nigeria and most of the labor is unskilled and self-employed. This means you too can become the boss of yourself in the industry.
Small agricultural business requires small capital to start up if you factor in the amount of money you may make if you maintain the business.
Most of the needed resources are land, water, and the crops and animals. You can start this business as a sole-proprietor and then grown into a Limited Liability Company.
Opportunities in the agricultural sector are almost endless.
Here are a few below:
i. Poultry farming
ii. Fishery farming
iii. Snail rearing
iv. Pig rearing
v. Livestock rearing
vi. Horticulture
vii. Rice Milling
viii. Cassava processing
ix. Palm oil processing
8. Cosmetic Business:
Cosmetics business is also one of the big and profitable business in Nigeria. Running a cosmetics business is a good step, because almost everyone, especially females, are finding better skincare products or face products that would improve their beauty.
This business has a lot of competition because of the high demand and it still fast-moving and profitable.
The business is also in two broad categories. While there are those who focus on cosmetic products like skincare and makeup products, there are also those who focus on home spa, pedicure, or makeup services.
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