20 Lucrative Businesses You Can Start in Nigeria with Low Capital

Since publishing my blog post – “Top 20 Lucrative Businesses in Nigeria That Make Millions of Naira” I’ve been inundated with messages and comments asking questions such as “what business can I start with little capital?” and “I don’t have much savings but I want to start a business.”

Through this blog post I’ll answer those questions using valuable pieces of insight that I’ve researched and picked up through personal experience. So if you’re looking for a business to start with low capital in Nigeria, you’ve came to the right page.

It’s common knowledge that Nigeria is a fast-growing economy with some of the world’s best known companies operating on its soil. The country, which was largely dependent on its oil resources, flaunts a business landscape, which is widely considered one of the most lucrative in Africa.

Nigeria is a land of great opportunities, especially for those who are willing to take the plunge. But despite the countries rapidly growing economy, employment opportunities are still limited for a native, which has pressed Nigerian’s to create employment opportunities of their own.

The good news is that starting a profitable business in Nigeria isn’t a difficult task if you are well equipped with the fundamental resources and knowledge. As the economic landscape changes, Nigerians are trying their hands at a range of lucrative business opportunities.

To set a business in motion, an entrepreneur needs to evaluate the commercial feasibility, market status and future possibilities. However, before anything else, a business requires a persuasive idea and capital to incur the initial expenses. The beauty of this blog post is that little or no capital is required to launch the businesses ideas that we will discuss.

As you read through this list, you will discover some of the best, low capital business ideas in Nigeria that are proving to be very profitable.

20 Lucrative Businesses You Can Start in Nigeria with Little Capital

1. Roadside Fast Food Corner:

This is an old tried and tested business. If you wish to reap the rewards surely, but steadily, food is an excellent business domain. Food is an essential need and its demand can never come down. Thus, it is considered a money-making activity. If you are hard working and wish to test your culinary skills, you can opt for this business choice.

Maintain quality, good portions, be exceptional and create your own brand. Follow these simple tips and first time visitors will quickly become regulars

2. Office Supply:

Office workers are usually totally engrossed in their work, work long hours and often have little time to shop.

Contact your local offices and enquire about being an office supplier. You can provide them with everything they need, from office accessories to fashion items and grocery products. The only advice – Don’t be greedy, but honest and fair with your prices. The key is to keep them happy so you can make a steady income and gain referrals. Don’t look to get rich quick.

3. Rice Farming:

Rice production is considerably low in Nigeria in comparison to its consumption rate. Therefore, the cultivation of rice can be a guaranteed idea to start a business and a fruitful source of profits.

In my blog post – “How to Start a Rice Farming Business in Nigeria”, I guide you step by step on how to start your own rice farming business.

20 Lucrative Businesses You Can Start in Nigeria with Little Capital4. Website Designing:

This is quickly growing to be one of the most favorable and budding business domains for young entrepreneurs, not just in Nigeria, but also across the globe. All you need to have is a deep and clear understanding of online processes, marketing strategies, SEO tactics and legal guidelines. This is cost-effective, futuristic, gainful and customer-focused.

5. Internet Business:

Can you imagine this world without the Internet? Surely not, because neither can I. Nigerians and Africans as a whole are avid Internet users.

If you can provide Internet connection at fair prices, throw in the occasional offer, and advertise smartly you could earn plenty of money.

6. Tutoring:

Education is a fundamental right, but ironically, there aren’t enough good schools to offer it. Not just Nigerians, but every parent in the universe wants his child to have the best. As there is an absence of high-quality schools in Nigeria, tutoring can fetch you high.

Don’t limit your options to academic tutoring. Turn your hard and soft skills in to a lesson. For example can you play a musical instrument?  Can you draw or design jewellery? Are you a food lover or cook? Are you highly skilled at a specific sport?  Website design? Maybe you have a passion for creative writing, dancing or even farming?

7. Snail Rearing:

If you establish yourself as a snail retailer, you are surely on the way to immense wealth. Snail rearing is an effortless task, as it requires less expenditure on food and shelter. They reproduce at a faster rate and the Nigerian markets are always willing to pay for them.

8. Poultry Farming:

This sector has what it takes to be successful. Birds are easy to rear; they breed fast and quickly mature to market weight.

You can start off small and quickly scale up which makes poultry farming a profitable business in Nigeria. Sell eggs and meat in the market and get your pockets filled with cash.

In my blog post – “How to Start a Poultry Farming Business in Nigeria”, I guide you step by step on how to start your own poultry farming business.

9. Tech Support Online:

This is a money-spinning activity, requiring no major investment push or thorough technical knowledge. You can begin your career as an online tech supporter and make huge bucks.

I’ve known people who have setup this type of business and outsourced the work to and external company

20 Lucrative Businesses You Can Start in Nigeria with Little Capital10. Second Hand Products:

Who doesn’t like spending less for something really superior in quality? Nigerians can readily pay anything for second-hand products if they are fit for use.

For this business you need to understand what people want to buy, and build connections with suppliers who can provide you with the goods.

Start small, focus on quality, charge reasonable prices and build your customer base. The key is to keep your customers happy.

11. Palm Oil Retailing:

Unlock big gains by becoming a supplier of Palm Oil, a liquid used in high quantities in Nigeria. Store the precious oil during the peak times and sell it during the off-season. However, first learn – where to buy, where to sell, how to store and how to resell. The demand for Palm Oil can never plunge in Nigeria and your profits too.

12. Plantain Chips Making:

This is a thriving sector to enter into if you wish to make a fast buck. Nigerians are dedicated consumers of plantain chips and they love to snack on them. A little planning and hard work can materialize your winning dreams.

13. Vehicle and Machinery Spare Parts:

By each passing minute, the manufacturing industry in Nigeria is growing, and there are more and more people driving vehicles on the roads.

This is an incredibly profitable business option. Be a supplier of machinery, spare parts, ball bearings, lubricants and other accessories and make millions.

14. Dry Cleaning:

Dry cleaning is a flourishing business and a great way to earn a lot of money. Open a business where there is a lot of passing traffic or trade, or close to a busy business district. Most people who will dry clean are busy office workers who need clean pressed suits regularly for meetings, but don’t have the time to do it themselves.

Keep the rates low, and watch your business grow.

15. Event and Party Planning:

If you are organized, great with budgets, thrifty, love socialising and have a knack for interior designing, this is certainly your fix. A few training sessions and simple equipment can make you sit on the top of the business.

I’ve known people start this type of business by organizing great partys for friends and family and then the word spreads. And before they knew it they were in high demand, so they built a simple website and bought some business cards, and now they have businesses that generate millions of Naira each year.

16. Recharge Card Vouchers Printing and Selling:

Mobile phones are quickly becoming a necessity in Nigeria and Africa as whole. Africa is quickly becoming known as the “mobile continent”. Investing in this sphere can lead to swinging success. Start your own recharge card printing center and sell the coupons for the leading networks.

20 Lucrative Businesses You Can Start in Nigeria with Little Capital17. Beads and Wireworks Making:

Women love to adorn themselves with exquisite jewelry, and interestingly enough more and more Nigerian men are starting to accesorise with jewelry.

Many Nigerian women and men are stepping into this industry, making cultural and fashionable jewelry, which is selling locally, nationally and internationally.

With the emergence and growing recognition of the Nigerian fashion industry this is an area that I can see huge growth in the next few years.

20 Lucrative Businesses You Can Start in Nigeria with Little Capital18. Car Wash:

With the growing number of cars on the road of Nigeria this area of business is growing.

The simple fact is that a car needs periodic servicing. It also needs to be washed to preserve its sheen. Opening a car wash center can be a brilliant business idea.

The key is to find a great location with passing traffic, or find customers that you can offer a home or mobile car wash service where you go to them and offer your services at their leisure.

19. Furniture:

Get in touch with some local or leading carpenters and provide a magnificent range of furniture items to your customers. You will be the middleman. Your job is to help carpenters generate more sales, and to offer customers a range of furniture that they cannot easily source themselves.

The beauty is that you don’t have to spend any capital to stock goods. Your job is to simply facilitate the sale. Once the sale is completed you take your cut, which should be about 15-20%

20. Used Books:

Just roam around your neighborhood, ask for books they aren’t using, build up a collection and go to the market the next morning. You will be surprised at the profits you will make.

Nigerians love to read. Academic books for school children, university students and professionals are great sellers. Take the books to market or sell online and you will never return home with an empty pocket.

All of these low capital business ventures have great potential, and the ability to help you generate a steady income, and if done properly you could earn millions.  But remember the success is in the planning, and your ability to execute your plan. There are some key elements that you must assess before committing to any business venture. Once you have all of these elements in place, you are only a few steps away from business success.

Do you agree with my list, and are there any other lucrative businesses that you can think of?

By | 2015-06-08T20:27:19+00:00 June 8th, 2015|Business, Startups|139 Comments

About the Author:

Terser Adamu is the founder of mynaijanaira.com. He is a passionate business professional who loves helping small and big businesses with practical business advice from business processes to marketing to sourcing. Basically anything that will help your business grow, and become successful. Joseph is widely renowned for his diligence and eye for detail. This is how the mynaijanaira.com story began. mynaijanaira.com was created to provide quality tips, training and mentoring to startups, entrepreneurs and business lovers. The aim is to help you increase your business knowledge and profits. Join the revolution and share the information ☺ Please share any feedback you have regarding our site and products. Please download a copy of my FREE Ebook: Discover How to Run a Successful Business in Africa

139 Comments

  1. loveth March 2, 2018 at 1:07 pm - Reply

    good afternoon sir, i want to go into business but i dont know which business to go into. i work as a customer care service, i need a business that i can do and still continue my work. need your advice please

  2. Manfred February 12, 2018 at 9:54 am - Reply

    contact me for palm oil supply

  3. Lanlehin Wale January 13, 2018 at 11:56 am - Reply

    Morning sir, i want to go into snail or poultry farming. i want your advice on steps and what to do

  4. Victory Erekosima December 29, 2017 at 4:54 pm - Reply

    Hello sir
    I just came in contact with #mynaijanaira
    .com and found your posts helpful…….
    Please Sir
    I just started a small scale business (provision store) with very little profit… I need instructions on how to save and still grow the business …….. Thanks Sir.

  5. joseph December 23, 2017 at 2:36 pm - Reply

    Good morning, please i will like to know how the second hand clothes business is going in nigeria and please if possible can you tell me the can of business i can start up in nigeria cos i am not in nigera.. thanks

    • Melvin January 14, 2018 at 10:38 pm - Reply

      Pls am in nigeria and am intrested in the used cloths business

  6. maryjane December 21, 2017 at 3:53 am - Reply

    Please, I want to go into palm oil business, but I don’t know how to go about it.

  7. oyewole November 29, 2017 at 7:07 am - Reply

    Morning sir, i want to go into snail or poultry farming. i want your advice on steps and what to do

  8. Smart November 28, 2017 at 7:25 am - Reply

    I have passion for blogging how do i become a blogger? and what are the benefits of blogging please?

    • Terser Adamu November 28, 2017 at 8:20 am - Reply

      If you have a “passion for blogging” then the biggest benefit is that you get to fulfil your passion. There’s no bigger benefit than that.

      I encourage you to hear started 🙂

  9. victor October 31, 2017 at 2:58 pm - Reply

    sir, you are indeed a God sent, sir, i noticed something about myself when i talk pple listen and prefer to follow my advice but how do i turn this gift to money

    • Terser Adamu November 1, 2017 at 7:32 pm - Reply

      Hello Victor,

      you are blessed, i’m very thankful for the positive feedback.

      With regards to your questions, I think you will find great value in taking my online course – How to Choose the Perfect Business for You! Please click the link to enrol NOW! https://mynaijanaira.com/online-course/

  10. ANN NORBERT September 6, 2017 at 12:12 pm - Reply

    Sir,good morning. Please l got all you said about printing recharge cards. l have the equipment. How can l get the printing software and recharge pin from the service provider. Thank you.

    • Terser Adamu September 7, 2017 at 6:51 pm - Reply

      Hello Ann,

      unfortunately my knowledge on this business area is not very current, but I believe you can find verified software and software providers online. Carry out a google search, or search platforms such as https://www.vconnect.com/. If that fails your best bet is to ask in your local area.

  11. Vincent chima August 20, 2017 at 3:08 pm - Reply

    I want to go into car spare parts business but do not have enough cash with me

  12. Ojonimi April 10, 2017 at 6:19 pm - Reply

    sir u are indeed a great man, I am seriously interested in the palm oil business, how am I going to start.

    • Terser Adamu April 13, 2017 at 9:09 pm - Reply

      Thank you Ojonimi.

      If you’re interested in palm oil business, i’d advise that you connect with local people who are successfully operating within the business. Join online groups and forums for support and guidance. You should also search on Google or YouTube for relevant material.

  13. Monsurat February 21, 2017 at 9:57 am - Reply

    pls I need more idea on poultry farming biz and also palm oil business , where and how to buy

  14. zayyad February 17, 2017 at 7:47 am - Reply

    What you are doin here defines giving back To the community.i would Like to know more about this plantain chips making business.

  15. Emmanuel Uche John February 1, 2017 at 8:43 am - Reply

    Your really doing a great Job hear for young entrepreneurs… more Wisdom too u….. Pls I found dis Recharge Card printing as a nice one for me, I avent had such ideas ….. it sounds cool…. pls am ready to start wit d business…. I ave 50k … will dat be enough too start…..if it is , hw can I start…. although I already ave a laptop, printer, and internet….. wat next? … hw can I see a printing company or software? pls I need answers too dis for its urgent. tenks…. aurthurpen@yahoo.con

    • Terser Adamu February 3, 2017 at 12:29 pm - Reply

      Hello Emmanuel,

      Thank you for the positive feedback.

      If you search through my past answers you’ll see some detailed and valuable responses that I have given regarding recharge card business.

      • Emmanuel Uche John April 2, 2017 at 3:31 pm - Reply

        Comment… mHello sir, I did try this (Recharge card business) but I was DUP……I followed ur write up but I don’t real know if I didn’t meet d real dealers who gives pin and software…. Actually they gave me their software and I downloaded it on my laptop…. and later I order for mtn 100 for 100 units… and d pin was sent too my email…. I tried accessing it according too d instruction I was given by dem still yet I was unable to get… Ofcourse I studied d software guide and yet it didn’t work out…. Now I really don’t know maybe I ave been DUP or maybe I didn’t do it very well
        .. but am sure of wat I did by d instruction dey gave me… but still at DAT I cudnt do anything wit it…. I had too call dem they told me I didn’t do it well and dat my money cannot b refunded since am asking for my money….

  16. tovic moses January 25, 2017 at 1:47 pm - Reply

    thank you very much for your post which indeed is helping lots of Nigerians out there…but sir how can I start a poultry business with 100000naira

    • Terser Adamu April 22, 2017 at 11:33 am - Reply

      The very short and honest answer is – start small, focus on quality and grow.

  17. Dunny January 20, 2017 at 7:53 pm - Reply

    Thank you, Pls I will lky to know more abt d palm oil biz nd how much can start up the biz.

  18. Lillian January 10, 2017 at 10:21 am - Reply

    Hello sir! You are indeed great at what you do. God bless you more. Your analyses are so on point. However, I will send you a mail concerning the challenges am facing in my foodstuffs business, please sir, do read it and advice will be appreciated. Thanks!

  19. Daviden September 17, 2016 at 11:39 am - Reply

    pls sir i want to start an agroofeed small scale store and am having 250k for now pls i need your advice thanks

    • Terser Adamu August 15, 2017 at 12:34 pm - Reply

      Hello,

      I’d advise that you research the basics so that you understand what is required, that way you can accurately budget your startup and running costs. Also you must identify what type of animal your feed will target because all animals have different nutritional requirements, and the same animal such as chickens will have different nutritional requirements depending on what stage of their life they are at.

      Pease research the following:

      1. The formula of your agro feed
      2. Ingredients
      3.Equipment
      4.Packaging
      5. Distribution
      6. Marketing

  20. Daviden September 17, 2016 at 11:37 am - Reply

    good day sir pls i want to start an agroofeed small scale store and i have only 250k pls i need your advice thanks

    • Terser Adamu August 15, 2017 at 12:35 pm - Reply

      Hello,

      I’d advise that you research the basics so that you understand what is required. Also identify what type of animal your feed will target because all animals have different nutritional requirements, and the same animal such as chickens will have different nutritional requirements depending on what stage of their life they are at.

      Pease research the following:

      1. The formula of your agro feed
      2. Ingredients
      3.Equipment
      4.Packaging
      5. Distribution
      6. Marketing

  21. martha September 4, 2016 at 9:52 pm - Reply

    Wow! i really luv this recharge card printing and selling business but i don’t have enough money to start it as a beginer who do not have an of this iteams listed to start with. like I said i only have just #30k with me cash. lf i should go for a loan Now we it affect me and my business sir plz am confused on what do about it i need ur Advise here. plz Reply Tnks!

    • Terser Adamu September 7, 2016 at 7:16 pm - Reply

      Hello Martha,

      a loan will not affect you as long as you can afford to make the repayments.

  22. G. K. Fedude September 2, 2016 at 1:48 pm - Reply

    Thank you Mr. Joseph for your nice post. But please how can I contact you for further discussion?

  23. Dayo August 26, 2016 at 12:02 pm - Reply

    Hello Sir, I read some of your comments and I really appreciate your sense of approach to questions . I am a student and I also work to sponsor myself, so am only chanced on Sunday’s, but I need an alternative income to support myself.what kind of business can I do that will be easier for me and won’t affect my full-time job.

  24. ewache August 26, 2016 at 8:55 am - Reply

    Thanks so much for this post, it was helpful indeed,
    I want to venture into bulk sms business but I do think know how to go about it, don’t even know my requirements, do the know my budget. I need your help.

  25. Michael August 2, 2016 at 9:55 pm - Reply

    sir you are really a great helper to Nigerian and to the world at large may God bless you of your good work. sir i like Internet marketing and website design but I am finding it difficult to start please help me out. Thanks

    • Terser Adamu August 16, 2016 at 9:29 pm - Reply

      Hello Michael,

      thank you for taking the time to read my blog post and leave a comment.

      Please let me know what part of the process you are finding difficult. My best advice would be to carry out a Google searche for online tutorials that will guide you visually, step by step!

  26. ewosky July 23, 2016 at 12:34 am - Reply

    Nice post really very inspiring then sir how do i go about recharge card business proper detail it more to me

    • Terser Adamu July 30, 2016 at 7:40 pm - Reply

      Hello Ewosky,

      thanks for checking out the website and leaving a comment. This is a question I’ve answered previously.

      In general, there are three options in the production of telephone (GSM) recharge cards. These are – dealership, sub-dealership and small scale recharge card printing. As the names suggests, small scale recharge card printing is the one that you can start with fairly low capital.

      Recharge Cards Dealership: This is a dealership/agency arrangement between the investor and the service providers. It is the most lucrative but also the most costly and high risk due to the required start up capital, approximately N5,000,000.00

      Sub-Dealership/Distributorship: This is perfect for those who want to maintain a level of control, but may not have the financial requirements to be direct agents to the network service provider. Requires minimum N750,000.00 to be a sub-dealership.

      Small Scale Recharge (Recharge Card Printing): This is the most accessible financially. You can start this with around N75,000 to N100,000 and make decent profits.

      To start this business you need simple technology:
      1. A desktop or laptop computer.
      2. Internet access.
      3. Printing software.
      4. Printer
      5. Recharge PINs from your service provider.

      You must treat this business like any other business. You must map out your business plan, marketing strategy and tightly control your finances.

      Welcome to the My Naija Naira community. Good luck with your venture.

  27. Imaobong June 27, 2016 at 9:35 am - Reply

    Thank you very much sir, I must say you are a very patient man ( a great quality given to you by God), to be able to respond to every single comment post to you. God bless you. My problem is i want to start recharge card business but i have only 50000 naira with me, how do i go about it please? Because you said the amount must be up to 75,000

    • Terser Adamu July 30, 2016 at 7:43 pm - Reply

      Hello Imaobong,

      I’d advise that you partner with someone that you trust and split the costs, or if it is possible you should negotiate a better deal, or search for a deal that is within your budget.

      Welcome to the My Naija Naira community. Good luck with your venture.

  28. muddy June 17, 2016 at 1:03 pm - Reply

    Hello sir

    I have a passion online/social media marketing and I believe I can capable consultant but I don’t any idea on how to kick start and who do u suggest should be my target clients?

    Thanks

    • Terser Adamu July 30, 2016 at 8:04 am - Reply

      Hello Muddy,

      Only you can determine who is your target customer. You must understand the problems that you are solving or solutions you are providing, from this you should determine who will gain value from your offer.

      Once you have tackled these two areas you can start to paint a picture of your target customer.

      Good luck with your venture.

      Welcome to the My Naija Naira community!

  29. Ami Emeke June 15, 2016 at 12:51 pm - Reply

    Sir I will start by saying may God reward u fr taking ur tym to post ds and also replying to every comment, may God bless u sir. sir my target is to go into garri nd red oil supply but I lack ideas, guild lines and how to go abt it… I reside in in Yenagoa bayelsa state and wud love to get my goods frm Agbor delta state, sir wat is ur advice. tanx n God bless

  30. Rukaya June 13, 2016 at 4:31 pm - Reply

    please I want to start Rice business and I have been told I need like 150,000 but I am a student and have just little above 30000 right now. What should I do?

  31. Victor June 9, 2016 at 6:51 am - Reply

    u r indeed of a great help sir, I appreciate ur work immensely. sir plz I need a candy advise from u on my burning of going into tile business…….importation n supply of tiles n possibly grow to extent of manufacturing it but sincerely, I wanna start from d very scratch because I don’t even av enof moni to start up from importation level, as I jez came out of skul. do u tink z a biz that one can start wit almost ntin n hope for rapid growth????

    • Terser Adamu June 12, 2016 at 10:57 pm - Reply

      Hello Victor,

      you can indeed start a business with almost nothing and grow it, but to expect rapid growth would be unrealistic and packed with a lot of risk. Remember, that the main drivers of business are profit and cash flow,s o to rapidly grow your business you must rapidly grow your profit and cash flow.

      It is a lot more sustainable and realistic if you grow your business steadily and gradually.

      Welcome to My Naija Naira!

  32. precious May 23, 2016 at 10:11 am - Reply

    Hi sir, very informative and educative post. This is soooooo great. I’m so interested in that recharge card and cosmetic selling. Although, I’m still in school but I’d soon finish. Any advice whatsoever will do. Thanks a lot and God bless you.

    • Terser Adamu May 23, 2016 at 7:57 pm - Reply

      Hello Precious,

      thanks for checking out the website and leaving a comment. This is a question I’ve answered previously.

      In general, there are three options in the production of telephone (GSM) recharge cards. These are – dealership, sub-dealership and small scale recharge card printing. As the names suggests, small scale recharge card printing is the one that you can start with fairly low capital.

      Recharge Cards Dealership: This is a dealership/agency arrangement between the investor and the service providers. It is the most lucrative but also the most costly and high risk due to the required start up capital, approximately N5,000,000.00

      Sub-Dealership/Distributorship: This is perfect for those who want to maintain a level of control, but may not have the financial requirements to be direct agents to the network service provider. Requires minimum N750,000.00 to be a sub-dealership.

      Small Scale Recharge (Recharge Card Printing): This is the most accessible financially. You can start this with around N75,000 to N100,000 and make decent profits.

      To start this business you need simple technology:
      1. A desktop or laptop computer.
      2. Internet access.
      3. Printing software.
      4. Printer
      5. Recharge PINs from your service provider.

      You must treat this business like any other business. You must map out your business plan, marketing strategy and tightly control your finances.

      Welcome to the My Naija Naira community. Good luck with your venture.

  33. Deborah May 15, 2016 at 4:35 pm - Reply

    Sir i want 2 start bead making busines buh how much would it take me 4 me 2 start dis busines.Comment…

    • Terser Adamu May 17, 2016 at 10:21 pm - Reply

      Hello Deborah,

      this totally depends on you. You can make it as a cheap or as expensive as you wish. Are you selling low end, standard or high end jewellery, and where will you buy your material from?

      Such a business does not have many overheads, so you can keep costs low and uncomplicated. Your main overheads will be cost of buying material to make your products, and cost of marketing your product to customers.

      Good luck with your venture and welcome to the My Naija Naira community!

  34. MrsOmotoso April 28, 2016 at 1:39 pm - Reply

    Comment…Thanks for this great post. It’s indeed an eye opener. please I want to start a very small scale kerosene business in front of my house Let’s say 300-500litres cos I’ll be using drums, kegs,and containers. do I need any permit for that? as I was told if It’s less than 10000 litres,then no need for permit. I need guide on how I can buy atleast 300litres for a start. Thanks in anticipation.

    • Terser Adamu June 1, 2016 at 8:35 pm - Reply

      Hello Mrs Omotoso,

      Indépendant marketers control majority of the Kerosene market in Nigeria, whilst the rest is controlled by NNPC through the Pipeline and Product Marketing Company, which is a subsidiary of NNPC. These two avenues will be your best options when searching for where to source your Kerosene.

      NNPC will also be able to advise you on what permits are required in order to legally operate as a Kerosene supplier.

      Good luck with your venture and welcome to the My Naija Naira community!

  35. GBEMI April 21, 2016 at 11:01 pm - Reply

    SIR I WILL LIKE TO GO FOR SNAIL REARING .SIR WHAT ARE THE STEPS TO BE TAKEN IN THIS BUSINESS.

    • Terser Adamu May 2, 2016 at 11:51 am - Reply

      Hello Gbemi,

      Coincidentally, i’m in the process of writing a blog post on how to start snail rearing. Please sign up to my mailing list and you will be notified by email once it is published.

      Welcome to the My Naija Naira community!

  36. Sylvester April 19, 2016 at 10:31 am - Reply

    Thanks a lot for this exposure .
    pls sir I want to learn how to customize Polo’s,T- Shirt etc. i am coming to Lagos early next month for this purpose. pls can u help me with information on were can learn this skill.
    again thank a lot for being there for us

    • Terser Adamu April 19, 2016 at 10:34 pm - Reply

      You are welcome Sylvester, thank you for your positive feedback.

      Unfortunately I don’t know where you can learn how to customise t-shits. I would advise that you carry out a Google search or ask locally and then research each company before making a decision about which one to choose.

      Good luck with your venture and welcome to the My Naija Naira community.

  37. Tonia April 18, 2016 at 12:03 pm - Reply

    Thank you sir for the articles, please sir I want to start a small business on baby products and mother care, I don’t have any idea how to go about it, I have saved some cash to start. Please sir I need your advice on it… Tnx

    • Terser Adamu June 1, 2016 at 8:38 pm - Reply

      Hello Tonia,

      here are a few points you should consider when planning to start a clothing business.
      •Clothing business is quite varied. Do you want to sell low cost or high end products? Decide on your target market
      •Where do you want to sell them from – online, your home or a shop?
      •Decide what you want to sell. Don’t make the mistake of trying to sell everything. This will just confuse your customers
      •Market research – Evaluate and understand what your competition is offering and what is their unique selling point?
      •Marketing Strategy – you need to find ways of appealing to people and attract them to you business
      •Reliable suppliers – If you can’t find reliable suppliers your business will struggle

      Good luck with your venture and welcome to the My Naija Naira community!

  38. dsstiny March 28, 2016 at 10:53 pm - Reply

    Thanks sir.i want to go into the website design and also party planning

    • Terser Adamu March 30, 2016 at 5:47 pm - Reply

      Hello Dsstiny,

      I’d also advise that you search the internet for free training courses online, find bloggers that specialise in those niches and pick up tips from them. Also, watch as many quality YouTube tutorials as you can for whatever niche you want to learn. I’ve found that certain YouTube tutorials are a lot more valuable than some training courses that you would have to pay for.

      Once you are confident with your skills you should set up your website and start to market your business. Focus on quality and customer satisfaction and you will receive repeat customers, and referrals from those satisfied repeat customers.

      Good luck with your venture, and welcome to the My Naija Naira community!

  39. funmi March 28, 2016 at 3:24 pm - Reply

    waoh dis is really a gud one i am wrapping up my Nysc i will like childcare service ur opinion pls

    • Terser Adamu March 28, 2016 at 4:37 pm - Reply

      Hello Funmi,

      Like any other business, childcare can be a lucrative business. In fact, the need for day care centres is increasing. The reason for this is that the number of full-time housewives in Nigeria’s urban areas is declining. Unlike anytime in its history, more Nigerian women are working at paid jobs or running their own small businesses. As a result of this trend, there is a growing opportunity for services such as daycare centres. People living in urban areas (cities and towns) are more likely to need crèche and child daycare services. So if you are considering setting up such a business it is important that you target cities and towns, and possibly affluent areas that can afford to pay for such a service.

      Good luck with your venture, and welcome to the My Naija Naira community!

  40. Lawal Michael (Jr) March 21, 2016 at 12:35 pm - Reply

    Hello sir, thanks for this great post you used in enlightening us. I’m grateful.
    Pls, I intend going into transport business, I have the belief that I can go far than abc transport. Pls I need your sincere advice on
    1) Starting with low capital
    2) Expansion of the business
    3) Maximizing profits when dealing with employees
    4) Other candid advice you can give to me
    Thanks sir!

    • Terser Adamu March 23, 2016 at 9:05 am - Reply

      Hello Lawal Michael,

      thank you for checking out the website, please feel free to contact me via my HIRE ME page and we can discuss your needs further.

      Look forward to hearing from you, and welcome to the My Naija Naira community!

  41. justice March 21, 2016 at 11:34 am - Reply

    Thank you very much….. you have really spoken well brother

    • Terser Adamu March 21, 2016 at 2:58 pm - Reply

      Thank you Justice your comment is greatly appreciated.

      Welcome to the My Naija Naira community!

  42. Tony March 18, 2016 at 5:45 pm - Reply

    Thank you sir for this article,is really inspiring. Up you

    • Terser Adamu March 19, 2016 at 12:50 pm - Reply

      Hello Tony,

      thank you for your positive feedback it means a lot!

      Welcome to the My Naija Naira community!

  43. Omosola Temitope March 18, 2016 at 10:51 am - Reply

    Wow! This is eyes opener. Thank you very mu h for your write up. My major area of interest is poultry farming. Can you take me through.

  44. John March 17, 2016 at 9:29 pm - Reply

    What an eye opener. Great job, keep it up. God bless you and your business

    • Terser Adamu March 17, 2016 at 10:00 pm - Reply

      Thank you John, you’re positive feedback is greatly appreciated!

  45. Bala Alih March 17, 2016 at 6:33 am - Reply

    Thanks for your wonderful posts. Pls, i want to go into selling Kerosine on a small scale (i.e. Between 300 to 500 litres). How do i go about it sir?

    • Terser Adamu March 17, 2016 at 10:27 am - Reply

      Hello Bala,

      Thanks for visiting the website and commenting.

      Please see email below for details about Kerosene business:

      When setting up a Kerosene business the areas you must consider are:
      1. Find a good location – you need to be strategically located. Ideally near a busy area, or an area that receives a lot of passing traffic.
      2. You must register with the appropriate body or agency in your state before you can start kerosene retail business
      3. Construct a surface tank
      4. Source your supply and set up good links with suppliers to guarantee regular supplier

      Good luck with your venture and welcome to the My Naija Naira community!

  46. mercy March 9, 2016 at 2:30 pm - Reply

    good day sir, please i need your advice i sell shoes(male and female) from place to place but the challenge is my customers buy on credit and its really affecting the business. What do i do?

    • Terser Adamu March 13, 2016 at 6:22 pm - Reply

      Hello Mercy,

      I think you have answered your own question. The issue is that your customers are buying on credit so i’m assuming this has an impact on your cashflow.

      Small businesses have a number of business aspects to worry about. For me the most important one is cash flow. Cash flow is important because it allows a small business to purchase inventory, pay employees and expenses and improve the business.

      A small business can’t stay open if there is no cash for inventory. If there is no inventory there is nothing to sell and no business any more.

      To increase cash flow i’d advise you to bill your customers right away. A small business cannot afford to put off billing any customer. If the customer is late with the payment, then give them a call and let them know you are not going to let it slide until next month. You may even consider adding a certain percentage for each additional month the bill is not paid. Also do remember in the cash flow process, that customers do not always pay on time. Leave a small amount of money in the cash flow to compensate for any bills not paid on time.

      Good luck with your venture and welcome to the My Naija Naira community.

  47. Bolaji March 7, 2016 at 3:42 pm - Reply

    Good afternoon sir… I really do like all ur advise to pple wnt in business field.. I wnt 2 strt a big boy business wth d fundz of 10000 naira cuz dat d amount i have wth me 4 nw. Am a shy type, nd also found myself dat i cant wrk under anyone xcept a business prsn cuz av undergo many chanlenges cuz of my caring heart,nd tke for a fool.. I dnt av any source of income 4 nw nd i dnt wnt 2 spend d money wth me…Awaits ur response soon… Thanks

    • Terser Adamu June 1, 2016 at 8:51 pm - Reply

      Hello Bolaji,

      with N10,000 your options are limited regarding what businesses you can start. I would advise that you use your skills, experience and knowledge to offer a service that is needed. By offering a service you will keep you costs and overheads to a minimum, so you shouldn’t require much capital to start your business.

      Good luck with your venture and welcome to the My Naija Naira community

  48. Emmanuel March 7, 2016 at 4:19 am - Reply

    Thank you so much for posting this! Please I dont know which one to choose. But i need to start a small scale business and i have like 30k on me. which one can i go for pls advise and kindly get back to me.

    • Terser Adamu April 3, 2016 at 7:35 pm - Reply

      Hello Emmanuel,

      First of all you need to decide what type of business you want to start. I understand that it can be extremely frustrating when deciding what type of business to start, so I would like to share a technique that I’ve used repeatedly and found great success.

      So how do you decide which businesses to start? First, take out a sheet of paper and write down things about you. List five to ten things about yourself that you like to do or that you’re really good at. Your list might include personal things such as – I’m really good with people, I’m a natural teacher teaching, I love to read, I love computers, I’m great with numbers, I’m good at selling or promoting ideas, I get a buzz from solving problems. Don’t restrict yourself, write whatever comes to your mind even if doesn’t make sense at first.

      On the other side of the paper, list things that you don’t think you’re good at or you don’t like to do.

      Next, ask yourself the same question about your business life. Examine what you like and dislike about your work life as well as what traits people like and dislike about you.

      Finally, ask yourself why you want to start a business. Then, when you’re done, look for a pattern to emerge from your answers and determine if there is a need for a business doing one of the things you like or are good at.

      Unfortunately I can’t decide for you, only you can make that decision because it will be you who is responsible for managing the day to day activities of the business.

      Because there are so many types of businesses that you can start it’s difficult to tell you which one to choose. Follow the steps I have given you, decide on the business and then plan from there.

      Good luck with your business venture and welcome to the My Naija Naira community!

  49. Ojochenemi March 2, 2016 at 10:43 pm - Reply

    Great job sir. I have a lot on mind on which business to venture in. I’m wrapping up with my NYSC and really need to conclude. I need your help please. I would love to connect with you on linkedin.

    • Terser Adamu March 4, 2016 at 6:49 pm - Reply

      Hello Ojochenemi,

      Congratulations on completing your NYSC, and thank you for visiting the website.

      Feel free to contact me on admin@mynaijanaira.com or search for me on LinkedIn – Terser Adamu

      Welcome to the My Naija Naira community

  50. William February 27, 2016 at 4:26 pm - Reply

    Thanks for the idea which you have share i will like to start up a poultry business but don’t know how to go about it and where am i to establish this kind of business.

  51. freddie February 26, 2016 at 1:24 am - Reply

    Hello sir, thanks for you wonderful write up. Please I need you advice, I have a 4bedroom apartment in a fence with gate compound in an area in ijede, I don’t want to use it for rent, I want a kind of small business I can do there. I have pure water factory close by. Am thinking that the house is too far from the express road. I have school around me. I just want something small to be doing. What can I do?

  52. opzy February 11, 2016 at 5:46 am - Reply

    Good works on your post. am interested in the small scale recharge voucher printing n sales. Can you link potential businessmen like me to where I can get PINs to procure cos I believe I have the other requirements listed.
    Thanx

    • Terser Adamu February 12, 2016 at 10:26 pm - Reply

      Hello Opzy,

      thanks for checking out the website and leaving a comment.

      Coincidentally I’ve just answered a similar question, so it must be a popular topic, maybe i’ll write a detailed blog post about this.

      The safest way is to order the recharge card PINs through the company’s website and pay the required amount for the number of PINs you have ordered. After making your payment, you can contact the company by text, phone call or email and they will send you encrypted PINs.

      Good luck with your venture and welcome to My Naija Naira!

  53. emmanuel February 9, 2016 at 10:20 am - Reply

    pls sir, the recharge card business u said we need desktop or laptop,printer and d rest for d 75k to 100k type.how can some one meet the network provider for d pin to start up the business

    • Terser Adamu February 12, 2016 at 10:22 pm - Reply

      Hello Emmanuel,

      thanks for checking out the website and leaving a comment.

      The safest way is to order the recharge card PINs through the company’s website and pay the required amount for the number of PINs you have ordered. After making your payment, you can contact the company by text, phone call or email and they will send you encrypted PINs.

      Good luck with your venture and welcome to My Naija Naira!

  54. Esther December 28, 2015 at 11:46 pm - Reply

    Such a wonderful post sir, it’s nice to have people who are on the look out for the success of others.. As a final year student of the university having some financial constraints I find your post quite educative, please sir, what do I need to know about tutoring, can I combine it with sth else? Probably cleaning people’s houses? I need to start sth that isn’t time consuming and yet can fetch me some money.. Your response will be highly appreciated

    • Terser Adamu December 30, 2015 at 7:21 pm - Reply

      Hello Esther,

      Tutoring can be a very flexible occupation and a consistent stream of income. So, yes you can combine it with cleaning or something else. First of all you need to identify what skills, knowledge and experience that you have that people are willing to pay you for.

      Similar to when you are searching for business ideas, you should write down things about you. List five to ten things about yourself that you like to do or that you’re really good at. Your list might include personal things such as – I’m really good with people, I’m a natural teacher teaching, I love to read, I love computers, I’m great with numbers, I’m good at selling or promoting ideas, I get a buzz from solving problems. Don’t restrict yourself, write whatever comes to your mind even if doesn’t make sense at first.

      From this list you can possibly ideas, and narrow down potential areas of tutoring that you can offer.

    • koloniza January 31, 2016 at 7:44 pm - Reply

      We can actually start a business of buying and selling online in Nigeria like OgaSeller.com

      It’s lucrative

      • Terser Adamu February 2, 2016 at 12:43 pm - Reply

        Hello Koloniza,

        Indeed, online businesses can be launched and maintained with little capital if you have an understanding of web design, or if you have the support or someone who has the required knowledge and skills.

        You don’t need a location to start a successful business. In fact, some of the most recent successful businesses are run entirely online. Keeping your business online will save you large amounts of money in rent, expenses, salary and general business overheads, and through the internet you can reach a wider base of customers because you’re not limited to a specific area.

  55. Prince Ejims December 22, 2015 at 8:23 pm - Reply

    I quiet commend you for sharing these interesting business ideas. They’re very interesting because they’re peculiar to our environment. And business thrives very well in an environment where there’s a market for it. Thanks for sharing these great ideas!

    • Terser Adamu December 22, 2015 at 8:38 pm - Reply

      Hello Prince,

      thank you for checking out the website and commenting. I agree that business thrives when there is a market for it, that is why it is important to create businesses that offer solutions to genuine African problems. Through this approach you can sometimes find a business need that people didn’t even realise that they wanted or needed.

  56. Aj December 12, 2015 at 3:45 pm - Reply

    Mr. Terser, I say it again, you are one of the great analyst. Thank you sir.

    • Terser Adamu December 12, 2015 at 5:16 pm - Reply

      Thank you AJ. I’m so happy that you found my recommendations useful.

      Good luck with your venture.

  57. patrick December 9, 2015 at 7:51 pm - Reply

    hi. i also enjoyed wht u wrote hw to start business…i have learnt furniture work design for one month now and to be continuing..also i still thinking to be create furniture business for mine profit. but i still not knw hw to start. note,i am deaf and dumb but not by born. also i still thinking hw to communication exchange with hearing pple by when they need to buy. and hw to legal so that my business will recongnized as law but not frauder. and hw to knw the cost on wht i produce for comsumer to buy..i need ur help if u have some experience

    • Terser Adamu December 12, 2015 at 9:00 am - Reply

      Hello Patrick,

      comments like your own are what inspire me to do what I do.

      In order to setup your business so that it is legally recognised in Nigeria you need to register it with the Corporate Affairs Commission – http://www.new.cac.gov.ng/home/

      The only way to know how much to price what you produce is to research how much similar products are sold for in your local area. You should research similar furniture businesses in your area and use this as a starting point for how much you should sell your own product. You can use this simple calculation: Cost of material + Cost of labour + 15/20% profit = selling price

      Also, if you are struggling with communication, are there any friends or family that you trust that can help you with this part of your business? Maybe you can utilise simple apps or functions on your phone to type in sentences/words to communicate with customers.

  58. Ik December 9, 2015 at 5:00 pm - Reply

    Thanks for your biz ideas. How can I get in contact with vegetables oil dealers in Nigeria

  59. Aj December 9, 2015 at 1:14 am - Reply

    You are one of the wonderful business Analyst, I established a refrigeration work shop somewhere years back, I gained many customers due to my technical knowledge on this work, My shop was full for fridges to be repaired, I used my money to repair most of the fridges with the hope that whenever customers see their property in good working condition this will motivate them to pay on time and carry their goods, but this run me to loss because i have to use my money to carry it to their various houses when I wanted to park out of the shop because of shop rent debt My question is that is it not good to be using your money to work for customer in other to encourage people with hope that they will pay later? This was my real life experience. I wrote may be people can learn from it and I want to learn more as well More so, my spirit of forgiveness is too much for those who wrong me, and it is affecting me in term of business, even many friends and relatives are warning me against this I tried to change but I could not. With this spirit I joined politics and people always like to follow me but this spirit also affected me to the extent that my follower warned me that did I want to bring the christianity int politics that I refused to eat and I did not allow other to eat Please I need your business knowledge mentor Thank you

    • Terser Adamu December 12, 2015 at 9:16 am - Reply

      Hello AJ,

      thank you for you kindly written and personal message.

      Unfortunately business can sometimes be tough and unforgiving, even for people like yourself who are kind and forgiving. Sorry for being very blunt, but the main purpose of running a business is to make a profit and to serve your customers, but this is a reciprocal process. If you have a new customer you should always collect money as soon as possible and your obligation is to deliver a service that is above their expectations so that they return or recommend new customers to you. This doesn’t mean that you should allow people to not pay you, or for you to be chasing money because this will cost you in time and financially.

      My advice is to always act in the best interest of yourself and the customer. Your interest is to make a profit and have happy customers. Your customers interest is to receive a great service.

  60. Augustus December 7, 2015 at 10:16 pm - Reply

    This is a great compilation of low capital lucrative business in Nigeria. I believe that enterprenuership is the way out of financial constraint in Nigeria.

    The population is robust enough to accomodate most of these business.

    Thanks for sharing this.

    • Terser Adamu December 8, 2015 at 8:31 pm - Reply

      Hello Augustus,

      Thanks for the positive feedback, and thank you for checking out the website and commenting. Through your comment I also checked out your blog. You have some great blog posts. Keep up the great work.

      Entrepreneurship is the future of the Nigerian economy!

  61. Stanley chike December 7, 2015 at 2:29 pm - Reply

    Hello Mr Joseph I love ur tips ,very interesting pls am interesting in clothing business but I don’t know how to go about it

    • Terser Adamu December 12, 2015 at 8:40 am - Reply

      Hello Stanley,

      here are a few points you should consider when planning to start a clothing business.
      •Clothing business is quite varied. Do you want to sell male, female or children clothes?
      •Where do you want to sell them from – online, your home or a shop?
      •Decide what you want to sell. Don’t make the mistake of trying to sell everything. This will just confuse your customers
      •Market research – Evaluate and understand what your competition is offering and what is their unique selling point?
      •Marketing Strategy – you need to find ways of appealing to people and attract them to you business
      •Reliable suppliers – If you can’t find reliable suppliers your business will struggle

      Good luck with your venture.

  62. james December 3, 2015 at 1:03 pm - Reply

    Tanx for the post. Pls i need more information on how to go into oil and gas with low capital

    • Terser Adamu December 5, 2015 at 10:10 pm - Reply

      Hello James,

      Oil and gas business is often a capital intensive business area. It is not a business area that I would generally recommend if you don’t have much capital.

  63. chinwe November 18, 2015 at 12:08 am - Reply

    PLS i hv an idea of selling recharge card through sms watsup and but how can i go about it?

    • Terser Adamu December 8, 2015 at 8:54 pm - Reply

      Hello Chinwe,

      Thank you for checking out the website and commenting. I answered a similar question in the comments section of this blog post. Please see the answer below.

      In general, there are three options in the production of telephone (GSM) recharge cards. These are – dealership, sub-dealership and small scale recharge card printing. As the names suggests, small scale recharge card printing is the one that you can start with fairly low capital.

      Recharge Cards Dealership: This is a dealership/agency arrangement between the investor and the service providers. It is the most lucrative but also the most costly and high risk due to the required start up capital, approximately N5,000,000.00

      Sub-Dealership/Distributorship: This is perfect for those who want to maintain a level of control, but may not have the financial requirements to be direct agents to the network service provider. Requires minimum N750,000.00 to be a sub-dealership.

      Small Scale Recharge (Recharge Card Printing): This is the most accessible financially. You can start this with around N75,000 to N100,000 and make decent profits.

      To start this business you need simple technology:
      1. A desktop or laptop computer.
      2. Internet access.
      3. Printing software.
      4. Printer
      5. Recharge PINs from your service provider.

      You must treat this business like any other business. You must map out your business plan, marketing strategy and tightly control your finances.

      Good luck with your venture.

  64. Damilola November 16, 2015 at 6:39 pm - Reply

    .thanks for the tips sir…. It’s been helpful…. But I want to start suya business in Nigeria…. And IL need advice on how to go about it and the amount IL need to invest …. Il be grateful to hear from you

    • Terser Adamu November 30, 2015 at 9:16 pm - Reply

      Hello Damilola,

      Soya business is very lucrative and the popularity of Suya has continued to grow year on year.

      The trade can bring in unbelievable daily income, and the great news is that the cost of starting up a suya business is not as financially demanding as other businesses. To start up a soya business you will need to calculate the costs of purchasing the grill, buying meat, ingredients, vegetables, foil paper or newspaper for wrapping, fuel for generator and the cost of renting the space to set up.

  65. Amaife Calistus November 16, 2015 at 2:38 am - Reply

    Comment…please i love to do internet works and i want to go into web designing and graphics. what are the things i should do to start up that?

    • Terser Adamu November 18, 2015 at 11:05 pm - Reply

      Hi Amaife,

      thank you for visiting the website and commenting. This is a question that I have answered previously in my comments section, and hopefully i’ll get round to writing a full blog post in the near future.

      To become a graphic designer, you will need to have IT and drawing skills. You’ll need to be able to find practical solutions to problems. You’ll also need excellent communication skills.

      Not all graphic designers are formally educated in graphic design, a lot of people are self taught by using online resources.

      To achieve this the following skills and abilities are important:
      Self motivated as it is likely you will be self employed or freelancing at first
      Ability to discuss the requirements of the project with clients and colleagues
      Provide accurate costs for the entire project
      Communicate with the client on a regular basis to report on progress
      Able to produce rough sketches and/or computer visuals to show clients
      Use specialist computer software and graphic design tools to prepare designs
      Negotiating and agreeing strict budgets and staged deadlines
      Deliver the final product on time, in line with the clients requirements and within the agreed budget

  66. Walter Anaba November 8, 2015 at 8:05 pm - Reply

    Hello Sir nice post please I’d like to be your friend on facebook.

    • Joseph Adamu November 8, 2015 at 9:30 pm - Reply

      Hello Walter,

      please add me on LinkedIn, this is the platform that I use when connecting with people for business purposes.

      • nuel November 17, 2015 at 6:15 am - Reply

        Hello Joseph, i’ve always wanted to go into fish farming and poultry farming but I really don’t know the first step to take and to start… please help me with some tips on how to go about it…

        • Terser Adamu November 18, 2015 at 11:01 pm - Reply

          Hello Nuel,

          thanks for commenting and checking out the website. Please check out my blog post – How to Start Poultry Farming in Nigeria This should give you a great understanding of what is required to start poultry farming.

          with regards to fish farming, i’m just in the process of completing a blog post that discusses how to start fish farming. Join my mailing list to keep updated.

  67. EMERUE CHARlES November 5, 2015 at 11:24 am - Reply

    Hello Mr Joseph, good afternoon I went through your write up and I found so much interest in it.am a young guy and have always have business in my mind since I was a kid.well I think I should go straight to the point now.i have a certain amount of money to start up a business but am confused because I really don’t know the kind of business to start please I need your advise seriously because am so confused.

    • Joseph Adamu November 5, 2015 at 9:32 pm - Reply

      Hello Emerue,

      I understand that it can be extremely frustrating when deciding what type of business to start, so I would like to share a technique that I’ve used repeatedly and found great success.

      Firstly you need to start generating ideas. So how do you start the idea process? First, take out a sheet of paper and write down things about you. List five to ten things about yourself that you like to do or that you’re really good at. Your list might include personal things such as – I’m really good with people, I’m a natural teacher teaching, I love to read, I love computers, I’m great with numbers, I’m good at selling or promoting ideas, I get a buzz from solving problems. Don’t restrict yourself, write whatever comes to your mind even if doesn’t make sense at first.

      On the other side of the paper, list things that you don’t think you’re good at or you don’t like to do.

      Next, ask yourself the same question about your business life. Examine what you like and dislike about your work life as well as what traits people like and dislike about you.

      Finally, ask yourself why you want to start a business. Then, when you’re done, look for a pattern to emerge from your answers and determine if there is a need for a business doing one of the things you like or are good at.

  68. jay October 23, 2015 at 11:28 pm - Reply

    hi Joseph, thanks for this wonderful write up. I’ve always wanted to sell ice blocks in large quantity n have a cooling van for rent. is this still lucrative and do u have an how much d capital will be?

    • Joseph Adamu October 31, 2015 at 11:04 pm - Reply

      Hello Jay,

      thank you for checking out the website and commenting.

      Ice block business is always lucrative in Nigeria. This is because Nigeria enjoys high temperatures all year round, and we like to socialise. This leads many people to drink large amounts of water/fluids.

      I never like to speculate how much capital people will need for a business because this depends on many variables, but what you need to consider to successfully run such a business is:
      location to produce your ice
      Ice making machine
      Refrigerators to store your ice blocks
      Generator that is reliable and supply consistent power to keep your product at the required temperature.
      Good clean water supply.
      Equipment to mould your ice block.

  69. Dailysho October 20, 2015 at 9:17 pm - Reply

    Whaooo..
    Glad to see this write up. Kindly put me through to Tokunbo importation. More on how to go about it and the Start-up capital.
    Thanks.

    • Joseph Adamu November 4, 2015 at 7:08 pm - Reply

      Hello Dailysho,

      thanks for checking out the website and commenting.

      Tokunbo industry is still lucrative in Nigeria because when buying second hand products you can find great bargains. If you take the example of Tokunbo cars, Nigeria is still largely a used car market with a high ratio old cars compared to new cars. In 2014, it is estimated that around 410,000 cars were imported into the country, about 74 per cent were used cars.

      With regards to how to start and the capital required, it totally depends on what type of second hand products you want to import. Do you want to import clothes, cars, laptops or other types of electrical goods???

  70. Abba October 20, 2015 at 8:02 pm - Reply

    HI MR JOSEPH
    plz help me with the basic infos on website designing and internet business. thanks

    • Joseph Adamu October 25, 2015 at 3:35 pm - Reply

      Hello Abba,

      do you want to start deigning the websites yourself or you want to hire people people to design websites for you? This will determine what information I provide you. Please let me know.

  71. precious October 11, 2015 at 1:06 pm - Reply

    Hi Joseph,
    pls can u help ma interest, i dont know how to go about cloth business (as boutique) .

    • Joseph Adamu October 14, 2015 at 8:16 am - Reply

      Hello Precious,

      here are a few points you should consider when planning to start a clothing boutique.

      •Decide what you want to sell. Don’t make the mistake of trying to sell everything. This will just confuse your customers
      •Market research – Evaluate and understand what your competition is offering and what is their unique selling point?
      •Marketing Strategy – you need to find ways of appealing to people and attract them to you business
      •Reliable suppliers – If you can’t find reliable suppliers your business will struggle
      •Decent space and location – your space needs to be sufficient for what you want to offer, and it needs to be in a sensible location so that customers can travel to it and find it.

  72. NWAGBO ELIZABETH September 19, 2015 at 1:05 pm - Reply

    NICE POST, PLEASE COULD YOU HELP WITH BULK SMS BUSINESS? WHAT IT WILL TAKE/COST TO START ONE. THANKS!

    • Joseph Adamu November 4, 2015 at 7:20 pm - Reply

      Hello Elizabeth,

      Bulk SMS reselling simply entails buying custom SMS units in large quantities and selling them to customers for a profit. For instance, if you buy 10,000 units for $150 (at the rate of $0.015 per unit) and then sell to customers at the rate of $0.03 per unit, you will make 100 percent profit after selling all 10,000 units.

      All you need to do is Register with a bulk SMS wholesaler, Buy custom SMS units, Customize your SMS reselling platform, Promote your business and sell to potential customers.

      I’ll warn you that this market is very saturated. There a lot of people offering bulk SMS services, so you will have to work hard to attract and retain customers. It is a game of numbers. The more customers/clients you have the more profit you make. Also, the major factor is having a stable but reliable service with assured service and delivery. If you achieve this it can be very lucrative and profitable.

  73. Jessy September 11, 2015 at 10:15 am - Reply

    Thanks for these write up. its quite informative. Please I’m interested in the recharge card business you spoke about, but how do i start and what are the guidelines to starting this kind of business. thanks.

    • Joseph Adamu September 17, 2015 at 9:00 pm - Reply

      Hello Jessy,

      There are three options in the production of telephone (GSM) recharge cards. These are – dealership, sub-dealership and small scale recharge card printing. As the names suggests, small scale recharge card printing is the one that you can start with fairly low capital.

      Recharge Cards Dealership: This is a dealership/agency arrangement between the investor and the service providers. It is the most lucrative but also the most costly and high risk due to the required start up capital, approximately N5,000,000.00

      Sub-Dealership/Distributorship: This is perfect for those who want to maintain a level of control, but may not have the financial requirements to be direct agents to the network service provider. Requires minimum N750,000.00 to be a sub-dealership.

      Small Scale Recharge (Recharge Card Printing): This is the most accessible financially. You can start this with around N75,000 to N100,000 and make decent profits.

      To start this business you need simple technology:
      1. A desktop or laptop computer.
      2. Internet access.
      3. Printing software.
      4. Printer
      5. Recharge PINs from your service provider.

      You must treat this business like any other business. You must map out your business plan, marketing strategy and tightly control your finances.

  74. Raymond June 30, 2015 at 3:59 pm - Reply

    plz i need your advice, i am looking for what kind of fast selling goods i can import and start selling in Nigeria, eg tin tomantos sanding etc please

    • Joseph Adamu June 30, 2015 at 10:03 pm - Reply

      Hi Raymond,

      You are on the right track. Tinned foods are considered fast selling goods. If fast selling goods is what you want to offer you should research fast moving consumer goods. These are products that are sold quickly and at relatively low cost. Examples include soft drinks, toiletries, fresh fruit and veg, and tinned foods.

      The risk with FMCG is that they have a short shelf life, either as a result of high consumer demand or because the product deteriorates rapidly. Some products such as meat, fruits and vegetables and dairy products are highly perishable. Other goods such as alcohol and soft drinks have high turnover rates.

      Though the profit margin made on these products is relatively small, they are generally sold in large quantities, so you will experience low profit margins and high volume business.

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