Naija Tech News (NTN) on 27, and in content, 10 Business You Can Start With 1M, 2M, 3M, 5M, & 10m In Nigeria., business, Make Money .
Are you looking for the best and untapped business to invest in? Below we are be looking at the following searches…
- What Business Can I do With 2 Million Naira In Nigeria?
- How do I invest 1 Million Naira In Nigeria?
- How Do I Invest 2 Million Naira in Nigeria?
- What Business Can I do With 3 Million Naira?
- What Business Can I do With 5 Million Naira?
- What Business Can I do With 10 Million Naira?
- What Business Can I do With 20 Million Naira?
These are just a few among the questions Nigerians asked every day. If you are among them it means you want to invest in something lucrative or you want to start up a business of your own and be your own boss.
This is a great idea. Working for another person will never make you rich instead it will make you a slave. There are so many reasons out there to start up a business in Nigeria which one of them is self-employed. Getting a white-collar job in Nigeria is not that easy even with your CV you will find it difficult to land your self your dream job.
In This article we will be looking at the top best lucrative businesses in Nigeria you can start with the sum of 1 Million Naira, 2 Million Naira, 3 Million Naira, 5 Million Naira, 10 Million Naira, and above.
Best Business Ideas to Invest in Nigeria
Since this is a quiet lengthy article, we have added a table of contents for easier navigation.
Cassava Production is under farming. People are now beginning to realize this aspect of farming now. You must not be the one to cultivate the cassava. You can hire or employ some people to help you out. With the sum of 1 million Naira or 2 Million Naira, you can invest in cultivating 50 – 100 Acre in a fertile area both in the Western and Northern parts of the country.
Cassava is one of the useful food consumption in Nigeria. It forms part of our daily food and it can be processed into different types of products such as starch, flour, chips, ethanol and glucose syrup, and bread, and much more. These products are in high demand.
Rice remains one of the most popular consume food in Nigeria that’s why Nigeria spend Billions of dollars each Year importing this product from China and Thailand because local farmers are unable to meet up with the demand due to poor capital and Agricultural knowledge.
You can make use of this great opportunity and start rice farming. This type of farming is most popular in the Northeast part of the Country. If you invest in Rice farming with 1 Million Naira you will surely make millions in return. It’s a guarantee in fertile soil.
SALE OF FURNITURE.
You don’t need to be a carpenter nor have the knowledge before you can start up a Funiture shop. This is a kind of business that involves buying and selling of locally made furniture.
All you need is a qualified carpenter to supply you with the furniture then a good showroom to display your products. Though this is kind of a big business in Nigeria that involves up to 3 Million and above the capital.
Depending on your plans, you can actually turn this into a big business with the sum of 10 Million Naira. I have a brother who is into this kind of business. He imports the majority of this furniture from China then sells them in Port-Harcourt. He has a big showroom and his capital is over 20 million Naira though.
You can still start this type of business even with 1 Million Naira capital and expand it when you start making big profits.
MAKING OF FRUITS JUICE.
We all consume fruit juice every day which is a good sign. This type of business involved lots of capital starting from 10 Million Naira and above. We have good taste fruits in Nigeria like oranges, Mango, pineapple, and others. Take for example La Casela and Chivita who started small are now making billions of Naira annually.
PURE WATER PRODUCTION.
Starting Pure water Production require huge capital. To start up this business you will need a truck, a good source of water accessibility, and others. With the sum of 20 Million Naira to 50 Million, you can start this business.
Some of the requirements include Reverse Osmosis Distillation System, Ultra Violet Bulb, Automatic Sealing Machines, and you will also need to employed workers and get NAFDAC approval.
OIL AND GAS BUSINESS.
We are blessed with a huge oil deposit in our land which is one of Nigeria’s big sources of income. You can tap into this area of business by owning a patron filling station, supply of Diesel, and Distribution of kerosene and make good money for yourself.
A look in this business sector revealed that anyone can start an oil business no matter the level of your Education and your financial capacity. Depending on your financial status there are different types of oil businesses you can go into in Nigeria and they are as follows.
Oil Refinery: This required a huge amount of money. You need up to $1 Billion to $100 billion to build an oil Refinery and it takes up to 2 Years to complete. As you can see, this is the business for billionaires not for faint-hearted investors.
You will also need a huge amount of money to maintain the business and to also pay your workers. This is the type of business that keeps fetching billions of Naira to Dangote and other billionaires.
Fuel Importations: Fuel importation is a big business venture that requires heavy infrastructures. Before going into this kind of business you will need to get a government-issued importation license and permit. You will also need to have a Tank Farm or group of filling stations where the imported fuel can be stored.
Petrol Filling Station: This is one of the cool business full of good profits to invest in. You will surely join the top business tycoons in the country if you can set up a filling station in any part of the country. This does not require billions of money, with 15 Million to 25 Million Naira you can build a filling station in a local area.
Diesel Supply: This one of the best businesses to invest in the oil sector and make millions of Naira. Even a newborn baby knows that Nigeria’s problem over the years is a lack of power supply. Diesel supply is less expensive and it’s not high flammable that is why it’s a good choice for most Nigeria homes.
This is an act of transporting goods from one place to another. You can start with patrol haulage or transport goods from a manufacturer or importers to retailers or consumers.
It’s a sure business that will yield good incomes. The business startup will depend on the type of trucks you buy which can range from 10 Million Naira and above.
You can invest in a small hotel with just 10 suites. In fact, this is one of the coolest business that doesn’t require daily hard work. All you need is a good manager and workers that will manage the hotel for you and watch the alert comes in every month.
IMPORTATIONS OF TOKUMBO CAR SPARE PART.
Tokumbo means fairly used. This is one of the businesses that is repeatedly fetching lots of money to Nigerians especially those that live in the USA, Germany, Denmark, Dubai, and even in South Korea. You can import them as used cars into 20ft or 40ft containers and sell them in parts in Nigeria. It’s a wise business idea.
INVEST IN LANDS.
You can buy two plots of land in a local area at a cheap price and resell them when development started coming to the area. You can even buy Land in a big city like Lagos and PH from a desperate seller and resell it immediately to a desperate buyer.
SALE OF BUILDING MATERIAL.
Investing in building materials is a nice business idea. These days people want to own their own building instead of answering tenant every year. You can make good money if you start building materials anyway in the country. The starting price depends on the location and the cost of living. With 2 Million Naira you are good to go.
I’m even thinking of going into this business myself. Did you know why? Because it’s one of the lucrative business you can start with small money and make millions in just one year.
People build houses with timber every day. With 1 million Naira you can start your own timber yard. All you need is to buy the required machines and a helping hand. Then go to rural areas, buy big trees there and resell them as timber.
You can start your own taxi company in Nigeria today with good management and makes millions of Naira. The startup price can be as low as 2 Million Naira until you scale up.
These are the best business you can start in Nigeria and make good profits. Don’t keep your money in the Bank. Pick one of these business and make good profits.
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