As an entrepreneur seeking to start a business in Nigeria with limited capital, you need to carefully consider which ventures will yield the highest returns. Choosing the right industry and business model is crucial, as you want to maximize profits despite your budget constraints. In this article, we will explore some of the most lucrative businesses that can be started in Nigeria for under ₦1 million.


Drawing from statistics and insights from current successful business owners, you will learn which sectors offer the best opportunities and what it takes to build profitable operations on a shoestring budget. Whether you want to run a retail store, restaurant, tech startup or other venture, you will discover smart strategies for getting your business off the ground profitably even with limited funds. The insights here will help you make informed decisions as you plan your entry into Nigeria’s thriving business landscape.


Most Profitable Businesses to Start in Nigeria With Low Capital


1. Offer Catering Services.

Do you enjoy cooking? Starting a catering business could be the ideal business opportunity for you. You can cook at home and cater for other local events. This is a lucrative company idea that does not require a large capital investment to get started. Aside from the cost of food, you may need to recruit a few employees as your event bookings increase. Your bill and service charge should cover these costs.

2. Start a palm oil storage business.

You can make a lot of money by storing and reselling palm oil during off-peak seasons. Purchase palm oil between February and April, when the price of palm kernels declines. Then sell it in July for a profit of 50-60%.


3. Transport Business

Many groups in Nigeria require transportation but cannot afford to purchase vehicles. Purchasing a bus (or numerous buses) can help you become the go-to transportation provider. Schools, religious institutions, and non-profits may outsource their transportation and logistics to you. It is a good idea to focus on a specific area, such as education or e-commerce delivery. You specialize, service a large number of schools and stores, and build a profitable business.

4. Establish a Security Agency.

Security is not just the duty of the government. Nigeria is experiencing an increase in demand for high-quality security services. You can start an agency, hire specialists, or become a bodyguard. Another alternative is to import and sell security items.


See the full details here:


Top 7 Most Profitable Business in Nigeira With Low Capital

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