See people are already struggling to relieve the ogbeni of his 10k pounds

@OP, come to Nigeria, and look for a job. You don't need more than 400,000 Naira all in to settle in a decent 1-bedroom accomodation in Lagos.
If you have lots of family expecting you, then you are in deep shyte, and can just as well kiss the money bye-bye. DO NOT LISTEN TO ANY ADVICE ON BUSINESS. Come down and see things for yourself, and don't commit to any smooth-talking alaye promising you a bumper harvest. They're most definitely liars and swindlers.

My advice would be to come back with the least possible noise, go and find somewhere quiet in the Lagos suburbs (even better if you move to another state) to settle, keep your money in the bank, lie low, and pound the streets searching for work, any one you can find. 10k pounds would put you in the limelight for a very short time in Naija, after which you will be as broke as a mongrel.

10,000 pounds?? Thats more than enough.That is over N2 Million.Great businesses have been started with less than N100,000.

I started my business when I finished my NYSC (or rather continued what I started in University) with N1000 on September 1st 2002 and By December 31st 2003-I had made more than 4 million.

The important keys you need are:
1) Work Smart-not just hard
2) Never forget that its Ideas that rule the world
3) If you put your hands to the plough-dont look back--giving up is not an option
4)Knowledge(Call it wisdom-facts-what you will)
5) The Grace of God

Having money to start a business is good-but optional.People have started businesses with $500 million (75 billion naira) and gone bankrupt in 2 years!And others have turned N20,000 to N100 million in less than 10 years,

I will advise the following:

1) Carefullly look for 2 people you can stay with for about 6 months.Let them know that you are coming in broke and "failed"-dont be ashamed of that.And its important they know that-so they wont be looking up to you for money or planning to kidnap you.Let one be in Lagos and the other in the hinterland-like some village (with light) in Ogun State or Oyo State.Plan to give them 40k to 80k (in installments) as some form of thank you for the space.

2) The best business to go into is one you have a great intrest in or one that is already in high demand and you can start easily.I strongly suggest you possibly come into the Country with laptops and blackberries ( I shuttle the USA and Nigeria and this is what I do).But of course-link with someone on ground in Nigeria who knows about the market and do your own research online and buying old copies of the newspapers like the Guardian and have them sent to you to compare pricing.You can also consideer the telephone industry,clothing,books ( I made a good chunk of change selling motivational books when I was in the University-going from bank to offices to churches to people's home and I built up a clientele who I regulary supplied).
If you buy 1000 pounds worth of used ( not new Bros) laptops and BB-you can easily get 50% returns on them.

3) Before you leave the UK-establish several good links with people you have known in the UK-who can help you if you need to buy or ship things from the UK to Nigeria.
If you have legal status-keep at 1000 to 2000 pounds in the UK in an interest bearing account and possibly with a good stock broker.

Dont plan to spend more than 4000 pounds on all you want to do.It is from that 3000 pounds to 5000 pounds, you must generate income, start a business and it is from that income you will need to get at least N600,000 to 1.5 million to get an apartment of your own in Nigeria within a year.
Keep the remaining 5000 pounds to 7000 pounds for at least 1 year without touching it-even if you are dying of hunger.And if you find yourself dying of hunger-go to the village and start farming!


I could go on and on- but as @Valicious said -you have to think yourself.

1)Are you coming home with your family?

2) Do you have a house in Naija?

3) Where in Naija do u wanna live? Or you would live anywhere inasmuch as your bizness is booming?


After answering these questions, I think we can give you a good advice.


Frawzey.

Did you mean 10000pounds,that's about 2.496million naira...dude you can still do something in nigeria with this amount and succeed only if you can monitor it urself,you can invest into agriculture,I mean poultry,fish pond,snails,turkey,pig and if you can't do that go to area where pure water factory is not that much and implement your own pure water factory,places like oshun state,ekiti state,enugu state,zamfara state,sokoto state etc that's all I have for you and my advise for u is that don't ever dream of opening one office or partner with anybody...igbe l'owo wa

I think before any advice of this kind can suffice, there are other things we have to know. For example, where do you want to stay in nigeria as your area of residence will depend on the type of business you can do successfully. The business you can do in Lagos may not be profitable in Ado Ekiti. Do you have house to stay without touching this money as accomodataion can take a chunk of the money. As some people suggested buying and selling can be rewarding. However, I am not sure if you have residence/visa permit to stay in UK otherwise I would advice you come home and start your life. There is no point in wasting your life in oversea after so long years without permit. The consequences is not usually palatable.

The capital is not the problem, the major problem is you i.e your professionalism and skill in driving the business to a success makes the capital valuable.

toluxa1: Better carry your money and come home. Even with 1million naira, people are setting up businesses that are successful and you'll double your money in a year with proper planning. My question is are you planning to come with your family?

just what i was thinking...r u supposed to supposed to support ur family out of d 10k dols? if yes then its gona be so tight i no go lie u whichever way i think u should come back home. Naija is not rosy o but d truth is if u had stayed back ders every possibility u wld av done better for ursef. consut people for business ideas and av a workable plan b4 buying ur ticket sha

AjanleKoko: See people are already struggling to relieve the ogbeni of his 10k pounds

@OP, come to Nigeria, and look for a job. You don't need more than 400,000 Naira all in to settle in a decent 1-bedroom accomodation in Lagos.
If you have lots of family expecting you, then you are in deep shyte, and can just as well kiss the money bye-bye. DO NOT LISTEN TO ANY ADVICE ON BUSINESS. Come down and see things for yourself, and don't commit to any smooth-talking alaye promising you a bumper harvest. They're most definitely liars and swindlers.

My advice would be to come back with the least possible noise, go and find somewhere quiet in the Lagos suburbs (even better if you move to another state) to settle, keep your money in the bank, lie low, and pound the streets searching for work, any one you can find. 10k pounds would put you in the limelight for a very short time in Naija, after which you will be as broke as a mongrel.

lwkmd

I guess this is the difficulty...laying low, avoiding relatives, and avoiding expenses. Btw, that 400k, that is for how many months of housing..?

Also, how would he transport himself, move around? Won't he need a car to hunt for jobs/business?

I empathize with you.You can make it anywhere as long as you have the brains to do so. But please answer this questions?
1. how do you sort out accommodation?
2. do you have any IT qualifications?
3. where do you intend to settle Lagos,Port harcourt, Abuja this are determinant factors?
4. what do you plan to invest in?
answering this questions should help us contribute meaningfully to your question.

Kobojunkie:

Do not go back if you have not made provision for

a) Electricity -- Look into Solar or Wind technology with batteries if possible. You would likely be more depressed if all you will be doing is going back to join the millions in darkness and hopelessly of the situation at this time.

b) Water

c) Food

Sit back in the Uk and live from hand to mouth. While you have been away, those you left behind are making good and they travel to visit you in the Uk and spend money on you, don't be deceived Nigerians are migrating back home in droves. My friend, this is where it is happening, opportunities abound, if you are smart.

Yeah I dunno guys

My own mentality is get a bit of stability with some 9-5. Then pursue side hustles/projects in your free time (at night, on the weekends).

I'd feel very uncomfortable if my main source of income was through hustling or these various buying/selling oriented things that people always suggest.

Like if I was the OP and someone was like, "come back to Nigeria and do hustle hustle", I'd be like...F that.

buJu-234:
that is abt 2.5Million naira.

first thing first; keep 1M in ur reserve acct.

with the balance.. jst look for things that are cheap in Europe and that are expensive in Nigeria

buy them; come down to Nigeria and sell them.
then go back to ur base in UK.

u can b doing that one in 2-3 mths; and i bet u will b making min. 300k profit.

simple.

if u want to b base here.. go 4 u... no wahala...
but plzzzzzzzzzzzzzzzzzzzzzzz
avoid the so called Big-man life....

best suggestion I've heard so far.

@buju-234, wat a bright idea u posted!

@OP, I agree with him, buy electronics from there e.g, fridges, cars, computers, wears, motorcycles, sports gears, etc. I bet u won't regret it. It ain't easy thou! Wish you best of lucks bro!

Sebi u no fit do 419? Wat of fapping? If no?
Den dat money s enof 2 survive n 9ja. Come & start a biz n relation 2 ur talent/discipline. U ll also enjoy fresh air 4rm our darling Presido (Gudlack).
£10,000= N2.500,000.
E reach 2 start sometin!

You can make a better turnover with this amount every month,4 more inbox me jaabioro@yahoo.com

How/where do you move these items you buy in bulk from abroad quickly?

E.g., electronics, fridges, cars, used laptops etc that are imported. Who do you sell it to?

Or will you have to sell the things you import directly to customers rather than to a shop?

I have so many friends that have left Europe and returned home and they are doing great. The first advantage you have right now is that Nigerians have enormous respect for those who have traveled out. They will believe anything you say or do. There are many businesses you can do with £10,000. That is approx N2.6 miliion. That's a lot of money if you know what to do.

My Advise:

1. Do something you love to do and have a passion for. This is important so that when business is slow, you dont get discouraged. No matter what you choose to do, there will times when business will be slow.

2. Dont mind all those people telling you crap about making provision for power, water and food. They are just talking crap. Nigeria has her problems, but the biggest problem in Nigeria is startup money and you already have that. for power, you can get a very good generator for between N40, 000 and N250, 000, depending on your power needs, that will serve you for at least 2 years. Food and water is nothing except you like to paint the town red. A single guy like you cant spend more than 25k a month on feeding.

3. The next big challenge you will face is accommodation. Now that again depends on where you want to settle down. If you choose Abuja, then you will probably spend all your money on accommodation. If you choose Lagos, you can get accommodation for between N250k to N1 million depending on your choice of location and taste. If you choose a place like Benin or Ibadan, you will get a great 2 bedroom apartment for around 100k. But trust me, the most expensive place is not necessarily the best place. The last Lagos flooding taught us all a lesson. There are businesses you can even run from home. If Lagos, then Surulere might be your best bet. Good electricity, good proximity to the whole Lagos but you must beware of the Surulere lifestyle. It can wreck you in six months. No go there o!

4. Here are a few suggestions for you.

Restaurant Business: Very Tedious initially but it never fails, Especially in Lagos. Man must wack! Also requires a bit of good funds to start.

Clothing: Might start slow, but never fails. Requires not so much to start and you can use your UK advantage here. But you must be patient to establish yourself. Ultimate it will guarantee a steady cash flow. Doesnt require much infrastructure

ICT(e.g phones and accessories): Never fails but you must look for location with high traffic or prepare to do real publicity. It might start a bit slow but can guarantee cash flow ultimately. Might require high startup cost depending on the item you choose. Also requires a bit of expertise.

Cyber Cafe: Used to be a good business but is almost dead because of low (relatively speaking) Internet cost. Only works now for outskirts of town or small cities.

Fish Farming/Poultry: Very Very Very good business. Most people either dont like it or dont know anything about it but its very good. Its tedious when you start, but it can grow and can turn into a mega business if you are patient and if you get proper training; no assumptions. Good part is that you can run it from small cities or outskirts of big cities where accommodation is cheap and cost of living is cheap. You just have to be a bit patient, but you can eventually get wonderful cash flow. Its a bit boring I must say but if you think of the cash in front of you, you'll get over it. You can also look at snail and rabbit.

I could give more suggestions depending on your expertise.

Cheers

Oboy, go to one village and acquire some plots of land, then start farming, trust me, in a year's time, ur money will double. All things being equal o

ekt_bear: Yeah I dunno guys

My own mentality is get a bit of stability with some 9-5. Then pursue side hustles/projects in your free time (at night, on the weekends).

I'd feel very uncomfortable if my main source of income was through hustling or these various buying/selling oriented things that people always suggest.

Like if I was the OP and someone was like, "come back to Nigeria and do hustle hustle", I'd be like...F that.

job no dey, and going by what OP has posted he has no marketable skills

as to side projects, depends on where you are working - a lot of corporate nigeria is one big sweatshop esp in lagos, where you may be out of the house from 6am to 10pm on weekdays and 10am to 7pm on weekends. no time


my first but rethought response was what skills do you have - but with what has been posted - and at 40, no one is going to want to give you an entry/ slighlty senior position when there is an army of desperate 20 somethings out there

My candid advice; look for somethings we lack here in Nigeria that's u have in the UK. I mean in terms of both Goods and Services. N2.5M should do the job well. Just u do a testrun by starting up while u r still in the UK then u can come down fully as time goes on.

All the best!

the other big problem the op might face is culture shock

in naija oyo - your own power , your own water, your own security, crazy vehicle maintenance . . .and a guy without a corporate job is an accident away from serious penury

None of you you have given d guy one single good advice!

My own advice is use the money and import two trucks! Give it out to construction companies and people into haulage and they will be giving you returns of 50,000 naira per day....but u need to choose a genuine company dat won't fail to pay as agreed upon.

The problem with some Nigerians(judging from few comments) is that many expected to build a company before you can be called make-it! I think you need to start small and end up big. A person that can manage a small business very well is actually a good business man than the one running a multi-national company.

in the end, ajs advice is the best

better come and see fr yourself what biz opportunities there are

there may b things we cannot see that a guy from the uk would see

ask late otunba gaddafi of sheet biz is serious biz

You can make it sir. All that matters how desperate you are, in the positive direction though. Have spent a couple of months in the u.k and i understand how life is over there especially the kind of work our fellow citizens do. Life is very expensive in the U.K i must say. 10,000 pounds is just too little spending such number of years laboring in the U.K. One could have been greater in Nigeria with such years of hard labor.

You could come over and start some moderate businesses like opening a hair dressing salon, game house, owning a taxi or 2 etc. Speaking from current experience you could find something tangigle for you and your family, then gradually should be very comfortable from exposures.

As some say, Smartwork is key, not Hardwork!

Regards and Goodluck.

With that kind of dough, why dont you emigrate to Canada or Australia? Are you running from the law?

Theben: Oboy, go to one village and acquire some plots of land, then start farming, trust me, in a year's time, ur money will double. All things being equal o

This one is 100% a lie

30%-40% rate of return from farming, possible but not probable. But double, no

Practically speaking the capital you said u have is rather too small to start a reasonable business here..Nigeria business are capital intensive except u want to do recharge card or pure water business...try use the money do ur masters and try and see if u can get a good job with it over there..I wont advise my enemy to come invest here for now cos of the economic situation in Nigeria at PRESENT...............................just my own candid opinion

I agree with all but one of jackiso's post, accomodation. He can't possibly tell his friends tales of coming back broke and yet conducting business worth thousands everyday, no amount of discretion would save him and the day his friends find out, they won't just throw him out of the house, they might even harm him. Best bet is for him to just come back, rent a cheap but decent BQ or SC say @ ikeja, Maryland, ikoyi or Anthony. 500 to 600K will suffice.
@OP,supplying on cash and carry bases ONLY of clothes, BB, laptops, weave on etc is quite lucrative here. Get a strong network before you try that though.
Whatever you do, never hand out your money to anyone!

My friend, you have to go back to school in the UK and complete your masters degree before even contemplating coming back. That way you may have a chance of picking up a job that can give you a start over here and take it from there. It is going to be very difficult but you must remain focussed and ready to endure the consequence of your past mistake.
There is always a cost or prize for our actions or inaction.
Start today and face the challenges head on so it becomes part of your life story in the not distant future. Delay it and you postpone what you will eventually face at an older age that make everything more difficult.

The decision is yours to make.