10 Business You Can Start With 100k in Nigeria

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10 Business You Can Start With 100k in Nigeria10 Business You Can Start With 100,000 in Nigeria

Nigeria has a strong entrepreneurial spirit, as several people engage in small-scale enterprises to generate revenue and attain financial autonomy. Nevertheless, acquiring enough funds to start and expand a lucrative enterprise continues to be a significant obstacle. This blog provides a response to the inquiry, “What type of business can be initiated in Nigeria with a capital of 100,000 Naira?” This tutorial will examine viable and profitable business concepts specifically designed for the Nigerian market, whether you are interested in opening a physical store, starting an internet company from home, or expanding your business portfolio.

This site provides comprehensive information on profitability, beginning expenses, legal compliance, financing sources, and other essential aspects. Its purpose is to inspire and encourage aspiring entrepreneurs, students, freelancers, and small company owners to initiate their ideas and transform them into tangible ventures.

The Importance of Entrepreneurship in Nigeria

According to PwC, micro, small, and medium-sized enterprises (MSMEs) make up 96% of businesses and account for 84% of employment in Nigeria, which is why entrepreneurship is so important for the country's economic development. The main advantages are:

  1. Job Creation: Entrepreneurship helps address Nigeria's unemployment crisis, especially among youth.
  2. Economic Growth: Small businesses contribute to national income, exports, and commercial activity.
  3. Innovation: Entrepreneurs introduce new products, services, and business models.
  4. Standard of Living: Entrepreneurship enables higher income levels and improved lifestyles.

By starting your own company, you have the ability to generate economic value while simultaneously attaining personal development and financial objectives.

There are five important reasons why you should begin your own business now.

There are many compelling reasons for you to pursue entrepreneurship in Nigeria:

  1. Pursue Passion: Run a business aligned with your interests, hobbies, and expertise.
  2. Create Job Opportunities: Hire staff and create employment as your company scales.
  3. Control Time: Enjoy flexibility in managing your professional and personal time.
  4. Financial Independence: Earn significantly higher income than traditional salaries.
  5. Fulfil life goals: fund your lifestyle, support family needs, and leave a legacy.

Potential offline business with a capital of 100,000.

Below are many viable and lucrative offline company concepts that may be started with an initial capital of 100,000 or less:

Point of Sale (POS) Business

There is a strong desire among consumers to make cashless payments easier.
The initial investment required for a POS system and supplies is around 70,000 Naira, which is rather affordable. Transaction-based commission ensures a consistent and reliable stream of income.
Strategic sites such as marketplaces, petrol stations, and malls provide consistent transactions.

Gas Retail Enterprise

Offer gas cylinders and refilling services for both residential and commercial kitchens. Acquire the necessary permissions and licences to ensure lawful operation. The initial expenses of around 100,000 include the acquisition and shipping of cylinders. Generate profit margins of up to 20% for each cylinder sold or refilled.

Mobile Device Charging Enterprise

Benefit from the widespread need to charge mobile phones, particularly during periods of power outages. Establish a kiosk with noticeable signs and branding in a location with a lot of pedestrian traffic.
Allocate around 60,000 as an initial investment in power bank chargers and solar panels.
Generate income by implementing nominal fees for each phone charge.

Laundry Service

Target the demographic of houses, hostels, and hotels that have a consistent and frequent need for laundry services. Acquire a commercial space and allocate 70,000 towards the procurement of essential equipment such as washing machines, ironing facilities, and water storage units. Offer additional services like dry cleaning, starching, and ironing to attract and retain consumers. The earning potential is above 40,000 per month when there is an ideal customer base and appropriate pricing.

Small-scale retail establishment specialising in the sale of food and other household items.

Establish a compact retail establishment specialising in sought-after foodstuffs, snacks, and domestic necessities. The cost of renting a shop, purchasing products, and acquiring storage racks may be accommodated within a budget of 100,000 naira. Conduct research on the geographical area, get insights into client preferences, and analyse the competition in the local market. Increase the prices of perishable items and decrease the prices of snacks that sell quickly in order to maximise earnings.

Garment construction and fashion design

Utilise abilities such as sewing, design, and knitting to provide customised services. Allocate funds towards the acquisition of essential resources such as sewing machines, mannequins, and raw materials. Promote products or services using social media platforms, word-of-mouth recommendations, and fashion showcases. Earn a monthly income of 40,000 to 50,000 by effectively pricing designs and supplies for maximum profitability.

Entrepreneurial Ventures You Can Initiate with a Capital of 100,000 As digital penetration grows, it becomes possible to access profitable online business models even with low funding.

Writing and publishing online articles or posts on a blog.

Create a specialised blog that aligns with your own interests and generates revenue by including advertisements. Allocate a budget of 100,000 for expenses related to site hosting, domain registration, theme customisation, and content production.

Generate revenue by using Google AdSense, promoting affiliate products, and publishing sponsored content whenever there is a significant rise in website traffic.

Affiliate marketing is a kind of marketing strategy where individuals or businesses promote products or services on behalf of another company and earn a commission for each sale or lead generated through their efforts.

Engage in the promotion of external companies' items and get a commission based on the sales that are produced. Allocate resources to develop a following by using social media marketing and doing SEO optimisation. The potential for earning exceeds 500k per month when there is a substantial audience and appropriate marketing in place.

Online advertising and promotion

Provide customers with digital marketing services such as social media management, site design, and SEO. Allocate 100,000 dollars towards the acquisition of software tools, online certificates, and the early marketing of services. Bill clients a monthly retainer fee to manage their digital marketing requirements.

Management of social media platforms

Offer social media account management services for both large companies and small enterprises. Acquire skills via online learning and allocate an investment of $60,000 for tools such as Hootsuite, icon creation, and design applications. The number of accounts and the level of involvement determine the monthly fee.


Provide high-quality material such as articles, website text, and social media postings to customers worldwide. No upfront capital is required; just a laptop and an internet connection are necessary. Earn a monthly income of over 40,000 dollars by presenting proposals to platforms and customers at lucrative prices per word.

Strategies for Expanding and Varying Your Business Portfolio

Avoid concentrating all resources or efforts on a single option or strategy. Diversify risk by generating from numerous sources. Integrate brick-and-mortar retail stores with internet websites, affiliates, and advertisements. Allocate the earnings generated by one enterprise towards launching a subsequent commercial endeavour.

Utilise acquired skills and duplicate effective models. The Importance of Market Research for Your Business Performing market research is essential in order to evaluate demand before starting any business endeavour.

Utilise surveys, interviews, competition research, and focus groups to get valuable insights into the preferences of the target audience. Examine industry trends, price determinants, optimal locations, consumer challenges, and demographic segmentation.

Continuing market research enables you to deliberately broaden your reach. Investment and funding choices Utilise personal funds or get loans from family members to begin a business venture, therefore avoiding the need for external equity or debt. Submit applications for Small and Medium Enterprise (SME) loans from the Central Bank of Nigeria (CBN), financing from the Bank of Industry (BOI), and small company awards provided by state governments. Engage in entrepreneur pitch contests and incubator programmes to get funding.

Initiate a crowdfunding campaign after you have gained momentum and a substantial following on social media platforms. Legal Obligations and Adherence To get an official trade licence, it is necessary to register your company name with the Corporate Affairs Commission (CAC). Acquire the necessary permissions and licences that are relevant to your specific sector. Ensure compliance with tax regulations by obtaining a Tax Identification Number (TIN) and submitting Value Added Tax (VAT), corporate income tax, and other applicable taxes.

Adhere to legislation pertaining to company location, safety standards, and other requirements specific to your sector. This article presents a wide array of viable and lucrative business concepts that may be started in Nigeria with a budget of 100,000 Naira or less. Initiate the process now by completing thorough research on ideas that are in line with your talents, performing market validation to assess their viability, and assembling your startup budget and strategy. To develop a sustainable and flourishing firm, it is crucial to begin with few resources, carefully reinvest earnings, and expand the range of products or services offered.


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