Top 5 Profitable Small Business Ideas in Nigeria with Low Capital (Under ₦100K)

The unemployment rate in Nigeria is soaring as the years go by and as the population increases. 

Nigeria is estimated to have a population of about 400 million people by 2050, which means that if more people are born and the unemployment issues are not solved, there will be more unemployment for many people.

The solution to this problem for young people could be to start a low-cost business, and in this article, we’ll consider how you can start a business that requires little capital, as low as 100k.

Why Start a Low-Capital Business in Nigeria?

Starting a low-capital business in Nigeria is the safest way to manage your risk and make a profit. 

With the high rate of inflation in the country, you need to manage your risk. A low-capital business is going to give you the room to test your idea to see if it can be scaled or not. If the little capital can yield maximum profit, then you can possibly grow your business to make more profit.

Top 5 Profitable Business Ideas in Nigeria with Low Capital

These are 5 profitable business ideas that require less than 100k to begin:

Recharge Card and Data Reselling

The startup cost for this business is less than N100k. People use data and airtime every day. If you can start a data and airtime reselling business, you’ll have a huge client base. 

The key to this business is to find a VTU platform that sells very cheap data, then you resell the data by adding your margin to the price of the data. 

For instance, if you purchase 10 GB of data for 1000 naira and resell it at 1200 naira, your profit will be 200 naira. 

Examples of VTU platforms: recharge2cash and airtimeflip. 

Build your client base of people who need data and airtime, and sell to them at a cheap rate; the more you sell, the more profit you make.

Foodstuff Retailing (Mini Bulk Sales)

This business venture offers significant profit potential. The price of foodstuffs is increasing because of inflation. 

If you can purchase foodstuffs at a cheap price from a producer or wholesale store and resell them to people, you’ll make a profit.

Profit tip: To make the most out of this business, you’ll need to source cheap places to buy foodstuffs and inform people that you sell more than what is obtainable in the market.

Laundry/Ironing Services

If you have an iron, detergents, washing chemicals, and access to constant water, you can set up this business. 

The key to excelling in this business is to target areas where busy professionals who have little time for laundry live. 

Working-class professionals are often busy and have little time for laundry. If you can offer your laundry service to them, you’ll make a lot of money from it. 

Profit tip: target areas where working professionals live.

POS (Agent Banking) Business

All you need for this business is a POS terminal and some cash for transactions. If you live in an area where there is little access to banks to withdraw cash, this can be a profitable business for you. 

Register with a POS-dispensing fintech like OPay, PalmPay, and Moniepoint. Obtain a POS terminal, target areas that are underserved by banks, and carry out deposit, withdrawal, and transfer transactions with your POS terminals. 

You make a profit from the charges you collect from every transaction. 

Profit tip: target areas like markets, rural communities, and other areas with little access to banks.

Social Media Management for Small Businesses

Businesses now want to be on social media to be able to increase their audience and have many people know about their existence. 

Social media management is the skill that is required to put businesses out there. 

If you can offer social media management skills to either small or big businesses, you’ll make a profit from it. 

You can start by learning social media management online from YouTube, Google, and other online platforms. After learning, look for individuals and businesses you can offer your skills to and make a profit by doing so.

Profit tip: pitch to people who have no social media presence or people who are actively looking for how to improve their social media presence. 

How to Choose the Right Business for You

To choose the business that will be profitable to you, you need to observe what you are passionate about and how you can align your passion to make a profit.

Research your area to observe the kind of problems that are unique to your environment, which will determine the kind of business you will choose.

Use these answers to find the spot between your passion and profit. Answering these questions will help you make a huge profit and do what you love. 

Tools & Tips to Succeed with Your New Business

Depending on the type of business you’re venturing into, you’ll need to market your business to make the most profit. 

Use tools like Canva to design flyers, WhatsApp Business to interact with your clients, and Google Forms to collect information about your clients. 

These free tools will make it easy for you to tell people what you do and also keep records of your customers.

Use word-of-mouth marketing, online advertising, WhatsApp messages, and other forms of marketing to get clients. 

Conclusion

Whether you are a student, a job seeker, or employed but need a side hustle, these are profitable business ideas that you can start and make a profit from with little capital. 

You obviously do not need to have a huge sum of money or millions of naira to start these businesses; with whatever amount you have and the right marketing, you can go from little to making profits. 

Read also: Best POS Business Ideas for Nigerians in 2025