Top 10 Business Concepts in Nigeria begin with 100,000 Naira

Top 10 Business Concepts in Nigeria begin with 100,000 Naira

Looking for business ideas to start with 100,000 Naira in Nigeria? Check out our top 10 business ideas and learn how you can become a successful entrepreneur with a small investment. From fashion to agriculture, we’ve got you covered!

The Importance of Starting a Personal Business in Nigeria Starting a personal business in Nigeria offers an opportunity for people to tap into a better livelihood amidst economic deficit and unemployment. It is a gateway to self-employment and helps to put an end to job hunting.

Starting a personal business comes along with several advantages such as unlimited freedom, fulfillment of dreams and ambition, and financial freedom. Personal business gives individuals the privilege to work at their own pace and with ease. It also enables individuals to fulfill their lifetime dreams and subsequently give financial freedom to the originator.

While there are many constraints to starting a personal business in Nigeria, capital to start with remains a major one.

Top 10 Business Ideas in Nigeria You Can Start with 100,000 Naira

In this article, we will be looking at ten businesses you can start in Nigeria with as little as 100,000 Naira. These businesses guarantee a 100% return on investment in 30 days or less.

  1. POS/E-Payment: An Overview

POS (point of sales) business idea is one of the most popular and profitable businesses in Nigeria. With only 100,000 naira, you can start a POS business that guarantees 100% return on investment in 30 days or less. POS business involves providing e-payment services to people who want to conduct financial transactions like withdrawals, transfers, and bill payments.

Advantages of Starting a POS Business in Nigeria

The POS business idea comes with several advantages, such as offering people an alternative to long bank queues, providing financial freedom, and helping to reduce unemployment in Nigeria. An example is Mr. Tayo Adewale, who started a POS business after graduating and has been making a steady income since then.

Factors to Consider When Starting a POS Business

When starting a POS business, one crucial factor to consider is the location of your business. The location can determine the success or failure of your business. Location is crucial for a successful POS business. Choose an area with good GSM network and proximity to customers. Also, you need to prioritize security to avoid being a target for criminals due to the cash transactions involved.

Other Services You Can Offer with a POS Business

Apart from the regular e-payment services, there are other services you can offer with a POS business. These services include selling airtime, data bundles, and conducting BVN registration. Diversifying your services can attract customers and boost profits.

Requirements to Start a POS Business in Nigeria

Starting a POS business in Nigeria requires meeting requirements like registering with CAC, obtaining TIN, and opening a bank account.. Also, you need to apply to a payment solution provider to obtain a POS terminal.

Challenges of Running a POS Business in Nigeria

Although a POS business can be lucrative, there are also challenges associated with it. These challenges include high competition, network failure, and power outage, which can hinder the smooth operation of the business. Consider contingency plans to overcome these challenges.

How to Market Your POS Business

Marketing is crucial to the success of any business, including a POS business. You can market your business through social media platforms, word-of-mouth referrals, and offering discounts to customers. You can also partner with local businesses to expand your customer base.


Starting a POS business in Nigeria is an excellent business idea that requires minimal capital investment. With a good location and reliable payment solution provider, you can achieve financial freedom and provide an essential service to the people in your community.

  1. Phones and Gadgets Charging

Starting a phone and gadget charging business in Nigeria with as low as 100,000 Naira is a profitable business idea due to the unstable and unreliable electricity supply in most states of the country.

Location Consideration

To attract customers, it is advisable to locate the business in an area with poor electricity supply. Good charisma is also important to freely relate with potential customers since the business will deal with different types of people daily.


To start the business, some of the things required are a container/space, a covered or shaded stall, a small generator for power supply, fuel to power the generator, original chargers and desktop, and an electric socket board with multiple electronic sockets for charging.

Success Story

Mr. Wale Olakunle, a middle-aged man, started his phone charging business with a 100,000 Naira loan from a microfinance bank three years ago. Despite a slow start, the business eventually boomed, and he currently makes nothing less than 7,000 Naira daily, which is around 200,000 Naira monthly.

  1. Mobile Food Vendor and Delivery Business

Food is a necessity of life that cannot be avoided. This makes mobile food vending and delivery business a profitable venture. With only 100,000 Naira, you can start your own mobile food vendor and delivery business.

Target Market

Working-class, students, and artisans are some of the customers who often require the services of mobile food vendors.

Cooking Skills

Having cooking skills will give you an edge over competitors. Delicious, nice, and affordable meals will help set you apart from others in the business.

Success Story

A popular mobile food vendor in Lagos, Mr Kelechi Emmanuel, expresses gratitude to a friend who first spoke about the business idea with him. However, he laments the current price of cooking ingredients and foodstuff, urging the government to find a lasting solution to the price hike.


Fast and reliable means of transportation are crucial for the smooth running of the mobile food business. A shop or office is not necessary to cook meals; you can start by cooking from the comfort of your home and expanding the business as time goes by.

  1. Copywriting

Copywriting is a profitable online business in Nigeria that can be started with 100,000 naira or less. It involves weaving content in a way that persuades or promotes a product, service, or cause.

What is Copywriting?

Copywriting involves different forms of writing such as advert copy, blog posts, video scripts, presentation, direct mails, jingles, and creative content. It can be done as a full-time or a side hustle that guarantees a return on investment.

Earning Potential

Copywriting can be very lucrative, with salaries ranging from 100,000 to 300,000 naira. Freelance copywriters charge clients per word, with an average of 11-20,000 per 1,000 words.

Getting Clients

As a beginner in copywriting, you can get clients by applying for freelance job boards, cold pitching, speaking at conferences/workshops, and promoting your business on professional platforms like LinkedIn.

Success Story

Seyi Olawale, a final year student of the University of Ilorin, has been surviving on the proceeds of copywriting since he lost his father in his second year. He no longer asks his family for monetary help as the income from his business is enough to cater to his financial needs.

What You Need to Start

Apart from having an inherent writing skill, copywriting can be learned through reading books, watching videos, following blogs, taking courses, and getting a mentor. You only need a laptop, a good internet connection, and a reliable power supply to start.

  1. Exploring the World of Graphic Design

Graphic design is a visual communication process that combines different elements to communicate a message to an audience. It’s a valuable skill in today’s digital age, and many industries require graphic design services.

Understanding the Basics of Graphic Design

To venture into graphic design, it’s essential to grasp the basics and fundamentals such as hierarchy, color, typography, lines, shapes, balance, texture, alignment, proximity, and contrast.

Success Stories from a Graphic Designer

Ayomide Adeniyi, an Ilorin-based graphic designer, earns a monthly income of at least 120,000 by designing flyers, e-book covers, and banners. He also earns by teaching interested students the skill. He gets customers from referrals and social media platforms like Facebook, WhatsApp, Instagram, and Twitter.

Starting a Graphic Design Business

You don’t need a physical shop to start a graphic design business; all you need is to learn the skill. You can learn by watching graphic design videos on YouTube or paying for master classes from professionals. You’ll need a laptop and software like Corel draw, Adobe Photoshop, Adobe Illustrator, Canva, Pixellab, Logo maker, and other similar software to begin.

  1. Selling Clothes in Nigeria

Overview: Clothes are essential and form part of the basic needs of man. Hence, selling clothes in Nigeria is a lucrative business idea that can be started with 100,000 naira or less.

Tips from a Young Clothes Vendor: To grow your clothes business, build a good relationship with your customers, advertise on social media, and engage in one-on-one interactions. The types of clothes to sell are children’s wear, native wear, English wear, jeans, underwear, etc. You can purchase them at popular clothes markets like Balogun market, Aswani market, Katangua market, Tejuosho market, Onitsha market, and Aba Market.

Starting Your Business: You don’t necessarily need a shop to start. You can deliver clothes to your customers’ doorsteps. To succeed, you must be able to convince your customers to buy your products. Good networking skills and maintaining a good rapport with your customers can help refer you to other potential customers.

  1. Laundry Business in Nigeria with 100,000 Naira

Laundry is a profitable business in Nigeria due to the busy nature of people’s jobs, which makes it difficult to create time for washing clothes.

Tips from a Successful Laundry Business Owner

Richard Ojigbede, a student of Ambrose Alli University, started with washing clothes with bare hands but now owns two washing machines and a generator, making nothing less than 10,000 naira daily. Most students have no time for washing clothes, which benefits his business.

Starting Your Business

You can work from home without owning a personal shop or space. Basic tools like a washing machine, iron, and generator in case of power failure are needed. Honesty is essential to gain customers’ trust, ensure the readiness of their clothes as promised, and establish good connections for referrals.

  1. Shawarma Selling

Shawarma is a popular snack made of beef or chicken filling that is loved by many, especially the younger generation. With as little as 100,000 naira, you can start a shawarma selling business in Nigeria.

Success Story: Mr. Sunday Agbor

Mr. Sunday Agbor, the owner of a popular shawarma spot in Ojodu Berger, Lagos, emphasizes that starting a shawarma business requires dedication and patience. Despite a slow start, he now makes over 250,000 naira every month from the business.

What You Need to Start

Before starting a shawarma business, it is crucial to get proper training on shawarma making to ensure high-quality products. You also need to find a strategic location, preferably in an urban area, such as near a students’ area, supermarket surroundings, or a T-junction, to attract your target audience.

Equipment required for the business includes a shawarma toaster, show glass, pot/utensils, spron, and insect killer for flies.

  1. Data Reselling Business

Data Reselling Business in Nigeria In today’s digital world, staying connected is a necessity. This has led to the high consumption of data in Nigeria, with over 80,000 terabytes used monthly.

How Data Reselling Business Works

A data reseller buys data in bulk from telecom companies at a lower cost and resells to customers at their preferred rate.

Requirements and Tips to Start Data Reselling Business

To start a data reselling business, you need a laptop or smartphone, capital for initial purchase, good internet connection, and a bank account for payment. To succeed, you should be a good marketer, reduce the price of data plans, and convince customers to buy from you. Referrals are important for growth.

Success Story of a Student Data Reseller

Miss Sharon Odewunmi, a student data reseller, expressed satisfaction in her choice of business. She highlighted the need for patience and good networking in the business.

  1. The Opportunity of Declutter Agent Business on Instagram

The advent of social media has brought numerous opportunities, including the declutter agent business. This business model provides an avenue to earn money on Instagram by helping sellers display their products for potential buyers.

How Declutter Agent Business Works

As a declutter agent, your job is to connect buyers and sellers. You earn a percentage from

the sales when a buyer is satisfied with a product and makes a payment. The variety of products sold through decluttering agents is vast and includes furniture, mattresses, generators, televisions, fans, and more.

Success Stories from Declutter Agents

A popular declutter agent on Instagram, with 13.5k followers, shared that she started the business with just 5,000 naira and now makes nothing less than 300,000 monthly. Instagram sponsored ads helped her reach her audience, but trust and sellers’ disappointment are the biggest challenges.

Starting a Declutter Agent Business

This remote business can be started from anywhere with a smartphone, Instagram account, data bundle, and adequate power supply. Having a high number of followers on Instagram is an added advantage as it increases the chances of buying and selling through your platform. Maintaining a good online reputation is crucial to building trust with potential buyers and sellers.

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