10 Currently Profitable Businesses That Brings Good Returns In Nigeria

1. Ice block Production and Sale

When you talk about small business ideas in Nigeria, ice block production comes to mind. Nigeria is located within the tropical climate region with an abundance of sunlight and heat. Unfortunately, the electricity supply is very poor, making it difficult for homes to maintain adequate stock of cold water in their refrigerators. This is what makes ice block production a money-spinning business in Nigeria. People require ice blocks to keep their water and drink cold. Your market includes households around your neighbourhood, retail shops, restaurants and bars that need to keep their drinks ice-cold at all times. The good thing about this business is that you can kick off with the little you have. You need a deep freezer as well as a medium-sized generator and you’re all set. As you make money, you can scale up by acquiring an ice block making machine. So, looking for a small business to do? It could be this.

2. Liquid Soap Production

The market for liquid soap in Nigeria is so large that the well-established brands are not meeting demand. Every household in the country needs this product. So there will always be a demand for it. You just have to be the one supplying. If you look around you, you will find homemade liquid soaps with no branding at all, packaged in used plastic bottles being sold for between N50 and N100. This is one of the major investment opportunities in Nigeria today. You can make so much money producing liquid soap and selling to supermarkets and other shops that retail to end-users, restaurants, bakers, caterers, and home keepers. You may have to acquire some training that is available at vocational centers run by churches, government, and non-governmental organizations. Create a large market by branding and fine packaging and you will smile to the bank.

3. Car Wash

The need for car wash will always be on the rise and anybody can do this business irrespective of age. With a little more capital, you can start a car wash that appeals to upwardly mobile individuals by setting up a sitting area decorated with a TV set where your customers will sit while their cars are being washed. You can make it a multiple income stream business if you have space by adding the sale of drinks, shawarma, etc at the sitting area. The critical things needed for a car wash business is the space that can be rented, source of water and the washing machine.

4. Rental Services

People constantly need things that they do not possess. Some of the things you can start contracting out includes chairs, canopies, vacuum cleaners, cutleries, cooking utensils, music box, ladder, etc. Once you are known to be engaged in this business in your environment, you may not be able to meet demand. If you have an interesting range of expensive gadgets or equipment, you might consider exploiting them for side income businesses hiring them out on hourly use basis. If the business gets going, you can add more items as you discover what people like renting. Prepare a leaflet, advertise in a local newspaper or use social media to announce your services. This particular business idea can be capital intensive sometimes and may require you to check out some platforms like Branch loan, Carbon loan, Palmcredit, Renmoney, Aella Credit, Quickteller loan, Opay loan, and C24 loan where you can get an instant online loan in Nigeria.

5. Call Card Business

This type of business is also known as the recharge card business in Nigeria. There is hardly any adult who doesn’t own a phone. This is one of the reasons why those in the recharge card business are doing so well. You too can join the train as you begin to tap into the market.

6. Food Cart/Mobile Food Business

Ask yourself this question – what sells fast in Nigeria? Food is one of the primary needs of man. Whatever the condition is with a man, he must eat. As a result, the food business will always be a lucrative business in Nigeria. It is one of the most thriving businesses in Nigeria. The key to success here is to differentiate yourself by choosing a specialty menu, a niche, and a market segment. You cannot be everything to everybody. Select your market carefully where the returns are higher. For example, you can choose to serve workers of big organizations like banks, oil and gas companies, and multinational organizations and develop a relationship with their HR departments to allow you to bring your food during their lunch or within specific hours of the day. You can add special delivery of specialty food to busy executives as part of your service. This particular business can be capital intensive and so, you might want to explore some platforms like Palmcredit, Branch Loan, Specta Loan, Fint Loan, C24 Loan, or Quickteller Loan where you can get an instant online loan in Nigeria.

7. Sports Betting Agency

Thinking of how to make money in Nigeria? Think sports betting. This has become a goldmine business in Nigeria as the young and old take advantage of their love for football to make money while enjoying the round leather game. This also explains the reason there is an upsurge in sport betting companies (bookmakers). The sports betting companies need agents to relate with players directly. You will need a neat environment for office space ( a shop will do), a generator, a computer, a printer, an internet connection, and a fixtures board. Next, you sign an agency agreement with your bookmaker. With some companies, you make money in three ways: board game, virtual game and deposit you make on behalf of your customers. With N250,000, you can sure be in this business and begin to smile to the bank.

8. Cloth Designing and Tailoring

 This business requires skills. So, the first step to your success is to acquire skills. Go for both English and traditional wear tailoring, fashion, and design training.Once done, boom! You’re made. Cloth designing and tailoring is often a neglected business idea that is quite lucrative, and the good thing about it is that you can start it as a small scale business if you like.

9. Okrika Bale Business

 This business is thriving very well in Nigeria as a result of the poor economy of the country. An average income earner in Nigeria hardly enters the boutique in the name to buy first-grade clothing. So, “Okrika bale” business is a good business to start anywhere in Nigeria but most especially in sub-urban and rural localities. Lagos, Aba, Kano, and Onitsha have good markets to buy bales of clothes for sale. Startup capital for this business may vary; it depends on you but you can start with a small capital of N100000 to N200000.

10. Uberpreneur – Driving for Uber

Many people ask, “What business can I start with 2 million Naira?” If this is you, then you might want to consider Uber. There are many reasons why people choose to drive with Uber. Some do it for the freedom to drive when and where they like. They’re the boss, and they work for as long or for as little as they want, following a schedule that suits their needs. The average Uber driver makes between 80,000 – 120,000 Naira every single week. Right now, Uber driving is one of the very lucrative business ideas in Lagos and a few other parts of Nigeria. It does not only allow you to work when you want (including nights or weekends) but also gives you the ability to earn some extra cash while doing so. While some drivers are doing this full-time, some only do it at night after the day job and on weekends.