• Business - Entrepreneurship
  • Updated: February 03, 2023

Ten Cheapest Businesses To Start In Nigeria With Little Or No Capital

With little or no jobs provided for Nigerians by its government, one must look past that and this is where self-empowerment comes in. 

As a Nigerian, there are numerous lucrative prospects for new businesses that you can create success from and as well profit handsomely in the process. 

Capital has always been a great hindrance to chasing big business dreams as an entrepreneur. 

This article, however, tends to solve that problem of capital by exploring the ten cheapest businesses one can start in Nigeria with little or no capital in 2023. 

Below are the top ten cheapest businesses to start in Nigeria in 2023 with little or no capital. 

1. Uberpreneur (Driver for Uber)

Uber's popularity in Nigerian cities like Lagos and a few other places are well known to all of us.

The majority of people choose to work as Uber drivers because of the independence it provides.

It is also one of the most profitable business ventures you could start in Lagos and a few other parts of Nigeria.

You already have everything you need to get going if you own a car.

Simply sign up for Uberpreneurs to start receiving your commission for each ride and start making money.

You have the opportunity to plan your time so that you can work when it's most convenient for you.

While some Uber drivers work full-time, others only operate their vehicles infrequently.


2. Fashion Designer and Tailoring

This is one of the skill-based, home-based startup business ideas that you might start in Nigeria right now.

When the tailoring skill is well mastered, the capital and profit from this job are well worth it. 

People often sew new clothing, and tailors play a significant part in this.

Given that Nigeria itself is populous, many occasions and celebrations will all pop up and this will be of great advantage to a skilled and reliable tailor or fashion designer. 

Even some tailors advertise their services online and try to attract customers through this online advertisement. 


3. Photography

This is a very large and profitable area of business to explore.

There are numerous options available in this profession, and if you know what you're doing, you'll be fine.

However, it is not for the faint of heart as many Nigerians have discovered but you should not be afraid to try it if you have the abilities and know your way around the craft.

When starting this business, you may not want to anticipate it to go as quickly as you think; instead, you may want to take it slowly and carefully plan it, then let your work speak for itself.

Make sure you have some amount of money to get started because just having a camera will not suffice; you will also need a laptop to edit and a variety of other tools.

You can choose to be a mobile photographer, travelling to businesses and events in search of customers, or you can manage a shop that accepts reservations.

You don't have to start right away and blow things out of proportion. No, you can start small and easy and gradually increase as you progress.

A photographer might provide a variety of services, such as photo shoots, Photoshop designs, picture books, photo frames, and event photography.


4. Website Design

One of the low-investment but lucrative businesses that anyone in this country can start is website design.

You only need your laptop or even your phone to get started because the bar has been set so low. 

The website design enterprise doesn't need a physical location, a big financial commitment, overhead expenses, or even employees.

Without a question, the internet has done more good than harm and is here to stay while providing everyone with the immense benefits it offers.

Due to its benefits and popularity, a large number of people are moving their businesses online, and a large number of websites are created daily, creating thousands of jobs for developers.

5. Freelance/Virtual Assistance

Even in our own country of Nigeria, freelancing is a widely used business model.

It is an internet business that is incredibly lucrative and profitable to establish in Nigeria.

One wonderful aspect of freelancing is that if you know what you're doing, it's not only incredibly lucrative but also very flexible.

It gives you the freedom to choose what you want to accomplish, who you want to work for, how you want to do it, how long you want to work on it and many other tantalizing options.

Without a question, freelancing as a kind of business has grown to be a highly widespread, steadily expanding industry that has given many people jobs both inside and outside of Nigeria—basically everywhere in the world.


6. Egg Supply and Distribution

It's not a bad idea to provide and distribute eggs; if you want to make life easier for yourself, you could even own a chicken farm.

The eggs can be offered to shops and lodging facilities.

People regularly consume eggs, a plentiful source of animal protein.

Eggs are also used in the manufacturing of cosmetic products such as face masks, adhesives, hair conditioners, cosmetics, and confections.

In light of this, starting an egg supply and distribution business in Nigeria is a very wise business decision.

As your clientele grows, your business will grow as well, and you'll make more money.


7. Blogging

Blogging is one of those businesses that make you the boss. You put in your own time and effort whenever, wherever.

You only need to decide on a lucrative speciality and a location where your heart is to continue the business.

All you need for a profitable blog in Nigeria is a laptop and a fast internet connection.

The best digital marketing strategies (SEO) for search engines like Google should be learned, or you should hire an SEO expert in Nigeria. 

Every blogger wants their article to show up on search engine result pages without constantly promoting the content, therefore, an SEO expert is required. 

With WordPress, Blogger, or Wix, you can start a blog for little capital. If you have the money, you can also set up your blog on a self-hosted server.

You can then start monetizing your blog by publishing high-quality content, driving targeted traffic to it, gaining their trust, and using Google AdSense, affiliate marketing, display ads, or offering high-quality information products like ebooks, among other options.


8. Cake and Cupcake Bakery

Events abound in today's culture, including weddings, birthdays, anniversaries, and holiday celebrations.

This presents a huge opportunity for the baking industry.

Making, decorating, and selling unique cakes and cupcakes for such occasions is a fantastic and potentially lucrative business idea for the hobby baker.

Certainly, starting a business in baking could be very successful.

You can get started for very little money by baking your cakes in the comfort of your own home.

A successful marketing strategy is sending cake samples to potential customers and event planners to ensure that they work with you when the need arises.

Using the best hashtags, you can also share your baked cakes on Facebook, Twitter and Instagram. 


9. Ice Block Production and Sale

When examining startup ideas for men and women in Nigeria, the first business initiative that comes to mind is the sale of ice blocks.

Perhaps the tropical atmosphere of Nigeria, which has a lot of heat and sunlight, has an impact on this way of thinking and business. 

Additionally, it is a profitable business idea that requires very little initial investment to start. 

Only a nice freezer, power, and water are required (which will freeze into ice blocks once you get started).

People will need the ice blocks as they will help preserve perishable items when electricity is poor.

For example, vegetables, food items (cooked or uncooked), drinks etc. 


10. Sales of Mobile Phones and Accessories

Selling mobile phone accessories is currently a very lucrative business in Nigeria.

According to Statista, the number of phone users in Nigeria is expected to surpass 140 million by 2025.

An owner of a mobile phone is likely to centrally need one or two phone accessories.

Offering cell phone accessories for sale can't possibly be a poor idea.

People commonly ask for batteries, AirPods, battery chargers, memory cards, earpieces, backpacks, screen protectors, and other accessories.

You can purchase your goods from online merchants or through alliances with vendors at Computer Village in Lagos or any other major Nigerian commercial centre.


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Rasheed Olajide Awoniyi
Rasheed Olajide Awoniyi

Rasheed Olajide Awoniyi is a Master's degree holder in International Affairs and Diplomacy, A Ba...

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