20 Lucrative Businesses you can Start with just 20,000 Naira Today (2022)


Before talking about start-up capital, there are a few things you should think about as an entrepreneur. Neglecting the basics could be one of the reasons you haven’t been able to get your business off the ground. When you don’t have any money to start a business in Nigeria, it can be difficult. People are full of great ideas and entrepreneurial spirit, and they want to start this business anywhere. Many people go further in their desire to start it all by securing a loan, but there are few available loan sources, and if there are, the interest rates are not favorable.

How about starting a business on a shoestring budget without taking out a loan? When starting a business, many, if not all, entrepreneurs start with very little money. So, if you have some cash to put into the market, you’re already ahead of the game. Rather than ruminating on the fact that I don’t have enough money, Many businesses in Nigeria can be started with as little as 20,000 to 50,000 naira. Of course, if you can afford it, you can go for something that requires a little more money upfront. So let’s get into the business ideas.

Jewelry business

I’m not sure there’s much to say about this. All you need is a little training, a lot of passion, a lot of creativity, a lot of unique designs and styles, and a lot of marketing. You don’t need N100,000 to get started. If you’re interested in starting a business like this, the initial investment is only N10,000. You can buy your product in Lagos for a lower price and sell it in your area for a lower price. And if you live in Lagos, you can conduct your business there as well. There isn’t a lot of pressure in this business.


The act of writing a blog post is known as “blogging.” The term “blog” is derived from the words “weblog” or “weblog.” You can think of it as an online diary or journal, though blogs are now used for a lot more, such as online journalism. Another way to make money from blogging is through affiliate marketing. It’s when you use special tracking links to recommend a product or service to your audience, and you get paid a referral commission every time someone buys after clicking your link. Blogging is critical to a company’s marketing strategy. A business blog is a marketing tool that helps with online visibility, brand awareness, and blog subscribers. It also helps with business growth.

POS business

You can get a POS system from your bank and set up online banking by following these steps: You can manage e-payments for people and get your small change if you live in a place where banks are scarce. If something is in high demand, you can raise the price slightly if you have it. There are no exceptions when it comes to POS and online banking.

Cake business

Really, who doesn’t eat cake at least once a while? The cake is one of Nigeria’s most popular snacks. It is frequently served as a pastry at formal occasions such as weddings, birthdays, Christmas, New Year’s Eve, and other festivals. The cake is sometimes given as a gift. On weekends, there is always a huge market for cake production in Nigeria because many people have their wedding ceremonies then. Birthday parties, Valentine’s Day, and other special occasions may require your assistance.

Selling soft drinks or bottled water

Sometimes, the weather can be really hot. It’s times like these that we wish for a nice, chilled drink. Selling soft drinks and water is a very profitable business because it is a product that is consumed daily. If you live in a densely populated area or city, this is a viable option. You can start this business with as little as N10,000 and as much as N100,000.

Snail farming

Snail farming is becoming more popular in Nigeria, owing to the low cost of entry and the fact that if you promote your products well, your business will thrive. This is a business that you can start from the comfort of your own home. Keep in mind that snails take almost one year to mature, so don’t expect any gains anytime soon.

Popcorn business

People eat popcorn and buy snacks regularly, and popcorn is one of the most popular snacks because people eat it at home, on the road, in stores, in vehicles, and even in movie theaters. Starting a popcorn business does not necessitate a shop; in most cases, all that is required is an exposed environment. The popcorn business is gender-neutral, and if you have the right tools, it is completely stress-free. You can also make a good amount of money every day if you are in a busy area.

Poultry farming

Although you may need to set aside some extra funds for this, poultry farming is a very profitable industry. You can buy a large cage that can hold up to 10 chickens and start selling them for 3,000 naira and above each in just 5 months, especially during the festive season. N30,000 can get you started in this business without putting too much pressure on you.

Plantain chips

Everyone loves eating plantain chips every day in the office, school, car park, market, and other areas. You can initiate this business as a corporation by packaging it ahead of time and applying a label similar to what you see elsewhere. If you do it right, you’ll have retailers coming to buy from you daily to resell. You can start making your own and sell it to the vendors along the expressway and in the shops. This business can be started with as little as N20,000.

Recharge card business

You can generate a profit even if you don’t have any money if you have a bulk seller who trusts you. You are the middleman in this business, which entails purchasing and distributing recharge cards from producers to retailers. If you don’t have a recharge card producer who can supply and pay you back after supply, you can start this business with N20,000. To save money on transportation, you’ll need a bicycle to get around.

Service barber

This is yet another small-scale business that pays well. The great thing about this is that you can offer your services to your clientele for a small fee in addition to your regular fee. The first thing we had to do was buy the right tools. As you know, we have rechargeable clippers.

Lesson tutorials

This is another well-paying job that you can do part-time or full-time, regardless of your age. Many parents are willing to go to any length to ensure their children’s success, and there’s one subject in particular where you excel. Simply fill the void, and negotiate a sensible fee.

Internet services

Do you know how much applicants pay just to have their Jamb applications filled online, despite the internet’s widespread coverage and the fact that people can access them on their phones? You’ll need a good computer, printer, and Internet service, provider. People are willing to pay up to N1,000 per application.

Barbecue business

This is yet another business that you can start with a small investment and earn money daily, as shawarma is consumed daily. Some people enjoy eating barbecue or shawarma while drinking beer at a beer parlor, as well as shopping for their families. The front of a beer parlor or club is the ideal location for this business. With as little as N20,000, you can start a shawarma or barbecue business.

Phone accessories business

Phone accessories include items such as phone chargers, air pies, USB drives, memory cards, and other similar items. Every day, people have problems with their phone accessories, primarily chargers. If you live in a busy area, this business can be very profitable. Starting this business is not expensive; you can get started with as little as 20,000 naira. You must have purchased a charger or ear phones in the past; that is to say, due to the poor quality of chargers these days, people experience one or more issues with their chargers, necessitating the purchase of a new one because they cannot throw their phone away.

Cleaning business

A few people will struggle to tidy their residences, probably because they are busy from Monday to Friday, have an engagement on Saturday, and all they want to do on Sunday is rest. Your equipment won’t set you back more than N30,000, and you’ll be able to clean up to five apartments in a weekend.

Fast food joint

With a budget of N20,000 to N50,000, you can open a small restaurant and start making money. You can even deliver to businesses during their lunch hour, saving them the stress and time of going out to find food by bringing it to them at work; they will be grateful while you earn money. Fast food restaurants will never go out of business because they are convenient, tasty, and time-saving.

Selling fairly used technology

A large number of Nigerians are unable to afford brand new computers, laptops, or television sets. You can begin by creating a free online shop on social media, collecting used laptops and televisions, and then refurbishing and selling them for a higher price. This isn’t difficult; a lot of people have already done it. The first step is to open an online store or find a small space for 1,000 Naira per month; the rest is up to you.

Dry cleaning

There will always be a need for more dry cleaning shops, no matter how many there are. You can begin by doing dry cleaning for your neighbors at home. Make a business card and pass it out. If you don’t have a washing machine, start with manual washing; no one cares as long as their clothes are hygienic, ironed, and smell nice. Make your company stand out and you’ll succeed.

Hair products and attachments

Many women are infatuated with their hair and are ready to spend a lot of money to keep it looking good. This is a lucrative business that you can start. You can buy them from local markets or online and resell them to friends, colleagues, or strangers on the internet.


In today’s Nigerian society, there are dozens of small businesses that are thriving. Some of these business owners are already making your neighbors and peers hundreds of thousands of naira. Rather than queuing up all year for a white-collar job that may or may not magically appear, there are many small businesses where you can start with little money while you wait for your dream job. As a starting point, all of these businesses can be started for as little as 20,000 Naira ($70), although if you want more, you may need to add some extra cash.

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