Starting a business in Nigeria can feel like climbing a hill, especially with the rising cost of living, unstable exchange rates, and a job market that seems to shrink every day. But even with these challenges, one truth remains: people are still making money. The key is knowing where to start and how to start small.
With just one hundred thousand naira (N100,000), you can build a business that brings in income, grows over time, and even provides jobs for others. Here are five practical business ideas that can start paying off faster than you might think.
1. Mini Importation
Mini importation is one of the hottest small business ideas in Nigeria today. It simply means buying goods cheaply from other countries, mostly China and reselling them here for profit. You don’t need a big office or warehouse to start. All you need is your phone, internet, and the right suppliers.
Popular lucrative items for mini importations:
– Beauty items: sheet masks, makeup tools, lip gloss, and other small beauty products
– Fashion items: bonnets, chains, caps, trendy clothes, mini bags
– Kitchen tools and small appliances
Where to find them:
– Alibaba: great for bulk buying
– Aliexpress: good for small orders
– DHgate: offers different products at fair prices
How it works:
Let’s say you buy a beauty product for N3,000 and sell it for N4,500. That’s N1,500 profit per item. If you sell twenty of those, you’ve made N30,000 for just one product!
Tips for success:
– Focus on fast-selling products
– Negotiate prices with your suppliers
– Use WhatsApp, Instagram, or TikTok for marketing
2. Thrift Fashion (Okrika Business)
The second-hand clothes business popularly called Okrika is one hustle that never goes out of style. Nigerians love affordable and trendy clothes, and with a small capital, you can start selling thrift wear online or in your neighbourhood.
Why it’s a smart move:
– Low startup cost
– Constant demand from students and young workers
– Easy to scale up
How to start:
– Buy from trusted thrift suppliers or local markets
– Wash, iron, and package your items neatly
– Take clear photos and post them online
– Keep updating your stock to attract repeat buyers
If you sell ten to twenty items daily at prices between N4,000 and N8,000, you could make hundreds of thousands in a month. Clean, fashionable thrift clothes sell fast especially when you build trust with customers.
3. Phone Accessories
Nearly every Nigerian owns a mobile phone and that means steady demand for accessories. From phone cases and screen guards to chargers, power banks, and Bluetooth speakers, there’s always a buyer somewhere.
With about one hundred thousand naira, you can start small and grow with time.
Why it works:
– Everyone needs accessories
– You can sell online or from a small shop
– You can restock easily with profits
Hot items to sell:
– Power banks and charging cables
– Earphones and Bluetooth devices
– Screen protectors and phone pouches
Post your products on Instagram, Facebook Marketplace, or Jiji. You can also partner with phone repairers or sell in busy places like campuses and bus parks.
4. Biscuit and Sweet Retail Business
Selling biscuits and sweets may sound simple, but it’s one of the easiest ways to make steady income, especially around schools or busy neighbourhoods.
You can start by buying in bulk from wholesalers and reselling to children and parents. The key is location. Find a spot close to schools or residential areas where kids play.
What to do:
– Stock popular biscuit and sweet brands
– Keep your space neat and colourful
– Always sell fresh products
– Be friendly to the kids so they’ll keep coming back!
Potential returns:
You can earn between N2,000 and N5,000 profit daily, which adds up to as much as N150,000 monthly.
5. Affiliate Marketing
This one is perfect for anyone with a phone and social media presence. Affiliate marketing means helping others sell their products and earning a commission from every sale. You don’t need to buy or keep goods just promote and earn.
How it works:
If a vendor sells a pair of shoes for tN20,000, you can advertise it on your WhatsApp or TikTok for N25,000. Once a buyer pays, you keep N5,000 and send the rest to the seller, who handles delivery.
You can register with affiliate platforms like Jumia, Konga, or other online vendors. Use your one hundred thousand naira to set up ads, create content, and build your online pages.
Tips:
– Focus on popular, fast-moving products
– Build trust with your audience
– Stay consistent with your promotions
The truth is, there’s no better time to start than now. That N100,000 sitting in your account could become the seed of something big. Every successful business today started from somewhere usually small.
The question is, which of these ideas will you start with?
