16 Businesses To Start In Nigeria With N50,000 Or Less

16 Businesses To Start In Nigeria With N50,000 Or Less

In this article is a list of lucrative profitable businesses to start in Nigeria with #20,000, #30,000 #40,000, #50,000 Naira and make a good amount of money from, if done properly. According to information hood research, these businesses are profitable businesses one can venture into with the above-mentioned amount and expect good income from.


Nigeria is a well strong economical country, just that it’s not been well managed by our government, but still, people are becoming millionaires every day from their personal businesses. Most of the millionaires in Nigeria all started with a small amount of money and today they are the big names all over Africa. You too can start something new, remember they said a journey of a thousand miles began from a step.

To me, I find personal business more comfortable and profitable, I don’t know why but I just like a business. some Nigerians are still scared of their own business but the fact remains that my set of people who want to set up something for their selves are more than those who want to work with someone till their old age.

So if you are someone like me who loves having his/her own business then this article is for you, just read on carefully as I show you some businesses you can start in Nigeria with 20k, 30k, 40k, and 50k Naira.

16 Profitable Businesses to Start in Nigeria with 20000, 30000, 40000, 50000 Naira

The current situation in the country has prompted many Nigerians to start their own business. Many people question is that what business can one start with this range amount. But my question is what can you do?


Yes, it is all about what you can do, some people will finish reading this post and still can’t find any business they can start, so it all depends on what one can do to earn a living.
Business Ideas to Start With 40k 50k 60k 70k in Nigeria.

1. Sale of bottled drinks or bottled water

Selling bottled drinks and water is a lucrative business, because it everyday consumer product, if you are in a very populated state or city like Lagos then you can consider this business.

You can start this business with 20,000 or less, all you need is to get a space on a busy road, buy a big cooler, an umbrella, an ice block, a small signboard to write buy minerals, and code water here. You can even include recharge card sales to it, the 20k is sure of covering both.

2. Popcorn Production Business

People buy snacks every now and then, and popcorn is one of the most selling snacks, because people eat it in their homes, along the road, in their shops, in vehicles, and even in the cinemas.

Starting a popcorn business doesn’t require a shop to get started, in most cases, it only required an exposed environment. The popcorn business has no gender discrimination and if you get the right tools for popcorn, the business is totally stress-free, also you can be making a good amount of money daily if you are in a busy location.


The requirements to start a popcorn business are a popcorn machine, kernel (corn), butter, groundnut oil, sugar, salt, flavor nylon, and a busy road or market. You don’t need to rent a shop, you can partner with someone in his/her shop since you won’t be disturbing them or you can get an umbrella, clean up any free space in a busy area and start your business.

In some cases, you may be required to pay some token amount to the local government council to start your business there. It is not more than 2k.
The small popcorn machine is 9k
Umbrella is 2k
bag of popcorn 5k
To prepare popcorn, take 3 tablespoons oil, ½ teaspoon salt, ½ cup popping corn, 3 tablespoons butter melted in a large, heavy-bottomed saucepan, add the oil, salt, or sugar, and popping corn.

Turn the heat to medium, cover the pot with a lid left slightly ajar, and shake once or twice. The corn kernels will begin to pop within a minute or two. Once the popping slows to an almost stop, remove the pot from the heat. Transfer the popcorn to a large serving bowl and drizzle with melted butter, tossing well to combine. Add more butter or salt, if preferred.
You can carry out this as a practical at home before moving into business, so you can get mastered it very well.

3. Sales of CD/DVD’S Business

If you don’t like Nigerian movies I am sure you like American movies, how about Indian, Chinese, and Philippine movies? hmm. This is a money-splitting business but some people thought there is nothing there. Do you know how much those movies you buy for 150 naira are been sold to the retailers? in case you don’t know, their counting price is 30 Naira each in the Alaba market.

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Now those guys sell these movies for 150 to us, definitely making 120 naira from every sale. let’s assume he was able to sell to 35 people daily, that is 120×35 = 4200 Naira. This is to say that guy you used to buy CD/DVDs from is making N4300 Daily and N109,200 Naira monthly. Someone could how is it possible for him to sell 35 movies daily? Now let me explain to you how.


Do you know that those movies have season 1 season 2 season 3 even season 4? one particular person buys from 1 to 6 if it up to because no one wants to watch half a movie, this means one person can spend up to 1000 buying from season 1 to season 4. That the same person might see another interesting movie and decide to include it.


Now if the seller is in a very busy place he will have more than 20 customers daily and sell more than 50 CDs daily. Having a shop or just an open permanent space along a very busy road this business is good to go, your customers will always come to you for new interesting movies especially if you are kind to them.

This is a very lucrative business and it doesn’t require huge start-up capital, with even 10,000 you can start this business.

4. Flashing/Downloading Of Music/Games To Phones Business

Do you have a laptop? Now it’s time to make good use of it. people want to have the latest music audio or video on their phones outside of downloading, phones get infected with viruses every day, there is no way a virus-infected phone owner would not want to flash the phone in other to work well again, this is where you comes in, you can do phone flashing, music and games downloading, and app downloading also together at the same time and this business doesn’t require a shop.


You can start this right in the front of your house by bringing your table, chair and your laptop, get two speakers and connect them to your laptop, get a plain board and write ” Download Music, Games, Bible, Quran, & Flash Your Phone Here”. Just watch how people will be waking you up in the morning with their phones.

The business is always a moving train no matter what location you are in because the phone is been used everywhere.
If you do have not a competitor in your location you can be charging 2,500 for just phone flashing and 500 Naira and more for games, music, bible, and Quran downloading.

This business doesn’t require you to buy or resell anything, you are just making the money for yourself without buying anything. If you don’t have a laptop then you can get one from our warehouse for as low as 19k – 40, our warehouse is located at No 09 Nigerian Army Shopping Arena, Bolade Bus Stop Oshodi.

5. Phones Sales Business

People buy a phone every day and will still buy tomorrow and will still continue to buy, With 50000 you can start a phone business in Lagos. There are Uk used untested android and blackberry phones they are selling in the radio market at the rate of 500 naira each.
When you get home buy the battery yourself because they don’t come with a battery, and test all of them, it will surprise you that they all going to work. I bought a Samsung galaxy s5 at 500 naira and am still enjoying it today, a lot of people are begging me to sell it to them for 30k but I like the phone and don’t want to sell it. I also bought a techno pad g9 which I use to update sometimes.


You can start this business right from the front of your home or at any busy road or even a busy railway if you are in Lagos. Just get a table and a carton to arrange them on just as those guy in Ikeja does, and you can start your business, sell them for any amount you wish, but I advise you to sell them at a cheap price also, so you can sell them quickly.


Those guys along the road in computer village sell them as untested also at the rate of 1,500 Naira, just for them to sell faster. You can also make yours cheap so you can sell faster no matter your location but some could be worth a very good amount of money even more than 20k, so it is better you sell according to their worth.

6. Phone AccessoriesBusiness

Phone accessories are phone stuff like phone chargers, air pies, USB memory cards, etc. people have issues with their phone accessories every day mostly chargers. This business is very lucrative if you are in a busy location. starting this business is not costly, you can start this business with 20,000 naira.

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You must have bought charger or ear pies before, this is to say people are buying it always due improper making of chargers these days, people run into one problem or the other with their chargers and required them to get new because they can’t throw their phone away.


If you are ready for this business you can partner in the shop with anybody that cell phones, or even if you are in Lagos and close to computer village you can take your take to any free space and arrange your phone accessories, there are millions of people going to computer village every day.

7. Fast Food Business

I know you eat, and you know I also eat. But do you know it is not all the time we feel like cooking or even having the time to? Even if you prepare your breakfast by yourself, how about the launch? will you go with your cooking pieces of stuff to the office? This is why restaurants and fast food joints will never run down.

You can set up a mini restaurant with 20k to 50k and start making money from it. You can even deliver to companies at the break time in saving them the stress and time going out to look for food by bringing it to them at the office, they will so much appreciate you while you make your money.

8. Dry Cleaning Business

For me, I don’t like giving dry cleaners my clothes till the day I bought ADAGBA, oh my my, when it put it inside the water, I didn’t know where to start the washing from, I was confused about it and just went to dry it, I thought I have escaped the problem till I wanted to iron it, then it was not a good experience at all because I end up running with it to the nearest dry cleaner.

When I get there I was having in mind that the dry cleaner will iron it for me so I go with it, to my surprise the dry cleaner told me to come back next week for it that they have a lot of work at hand, that is how I open mouth but do I have any other choice?
Just last month they bought two buses from Cotonou, and now delivering clothes to their clients, how amazing.


You can start this business right from your home with no capital to 50k. If you don’t have money then use your hand for the washing and iron them, I am sure you have an iron already. If you have money to invest, then you can get a washing machine and start doing it right in your home till you are able to raise cash for store rent.

9. Fish Fingerlings Production Business

Have you seen catfish before? the baby of catfish is called fingerlings. If you are a person that like agriculture such as farming, then you can venture into this business as it is very lucrative but it required some skills.

There are places to acquire the skill in most cases it cost you nothing. The process of producing fingerlings is easy, the only important thing is getting buyers ready before production.
This business is lucrative, you can make up to 50,000 Naira in your first production that spends just 4,000 Naira on. fingerlings farming is very lucrative.

10. Recharge Card Distribution Business

Even without money, you can start this business if you have a bulk seller who trusts you. This business is the act of buying and distributing recharge cards from producers to retailers, you are the middle man here. You can start this business with 50k if you don’t have a recharge card producer that can give you to supply and pay back after supply. You will need a bicycle for movement in other to be saving transportation costs.


Many generations to come this business will always remain lucrative, do you know why? Simple it is because not everybody has a car or can even drive, transportation business has always failed to be the best and fast money-making business in Nigeria, and it is still very lucrative and going to remain a lucrative business no matter the generation to come. This business is the act of transporting people from one lactation to another, the fact remains that you can’t start this business with any of the amount listed on this post but it is worth putting in the back of your mind to venture into.

11. Shawama/Barbecue Business

This is another business you can start with a small amount and be making some cool cash from daily, shawarma is consumable daily. Some people like eating barbecue or shawarma while drinking in a bear parlor and also like buying for their family. The right place for this business is a front of a beer parlor or club.
You can start a shawarma or barbecue business with as low as 20k.

12. Live Stock Poultry Business

Agriculture product is expensive in Nigeria because businessmen don’t face it. You can do poultry farming right in your backyard. You can buy a big cage that can contain up to 2 chickens, and in just 4 months you can start selling them for 3,000 naira each, especially in the season of celebration. with 30000 you can start this business comfortably and there is not too much stress on it.

13. Mini Importation Business

Nigeria depends on the importation, it is a shucking thing that Nigeria imports matches and toothpicks, but we can’t do without them so since we are not ready to produce them we have to keep importing this stuff. There are so many items out there to import that will interest Nigerians.

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In an interview with a Nigerian importer, he stated that the importation business is lucrative and every Nigerian who knows how to go about it is sure to be a millionaire in the nearest future.

According to him, he noted that importation business can be started with 20000 to 50000 naira and be sure of making 150000 Naira monthly if importing the right products. You can start an importation business while you are in Nigeria, Alaba is the answer, go on Alibaba and search for a cheap item of $2 – $3 and import 10 pies of it.

Hiding cameras fancy phone cases, Bluetooth speakers, and some other stuff like this are best for mini importation. You can meet with retailers to supply them at wholesale price when they arrived, or sell them online on Olx, Jumia, Konga, or Jiji.

14. Plantain Chips Business

This is what I enjoy eating mostly when I am traveling, people eat this every day, it a chip that is common everywhere. You can start this business as a company by packaging it in an advanced way and putting the label on it just as the ones you see in Lagos are. If doing it the right way you will get retailers coming to buy from you every day to sell. According to my research, I find out that a dozen of those in Lagos cost 6k.

You can start producing your own and sell to those guys selling along express and people sell in the shop. You can start this business with 50k.

15. Ice Block Production Business

Nigeria’s electricity condition is getting worst every day and people need cold drinks water etc, you can be of help and make money with this.

If you already have a freezer you can start producing ice blocks and sell them to people who are selling drinks and water. The only important thing this business required is a freezer and a Better generator with water.

16. Production Of Candle Business


I don’t know more about this but my research shows it is a lucrative business that has no stress, and with 50k you can start this business comfortably. With an erratic power supply in the country, there is no doubt that the production of the candlestick is still a money-spinner. A sizable group of Nigerians relies solely on the candle to battle the erratic power supply.

With #10,000 Naira you can have a candle mold, which produces 16 candlesticks at a time and go about 50 times a day translating into 800 per day. This is a situation when you are starting with #20,000 to #25,000 Naira.


According to research producing 16 pieces of the candle does not take more than 10 minutes, all you need to do is melt the wax, put it in your mold, in 5 minutes after, put in another wax, which you must have melted, while the previous one congeals and you go on and on.
the requirements to start this business are Wax #1,000 Naira, mold cost #30,000 Naira, Thread #1,000 Naira, Packaging Nylons N1,500 Naira, heat source N600 Naira, Bowl, Ceiling Machine N2,000 and logistics.
These are the profitable business to start with 20000 – 50000 naira in Nigeria.


Credit: Informationhood

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