29 Untapped Business Ideas To Make Money In Nigeria

I present you with a list of untapped business opportunities with low capital in Nigeria.

These business ideas can help you make more money while working from home.

Let’s begin…

Top 21 Untapped Business Ideas In Nigeria To Make Money In 2022

1. Start An Advertising/Media Agency

A profitable business to start with at least 500K in Nigeria.

With more businesses wanting more visibility, the need for ad agencies increases.

You have seen those ad spots (Big banner and TV screens) by the roadside. Those are works of an advertising agency.

The ad agency idea is a profitable business if you have the experience it requires.

What will set you apart in this type of business is your creativity and ad spot location.

To make money with the ad agency business in Nigeria:

  • Have a good understanding of your clients’ business and their message styles.
  • Be creative with your design, that you could pass a message with only pictures.
  • Offer graphics, photoshopping, and video editing as extra services.
  • Hire the service of a good copywriter to craft persuasive headlines and ad copy.

2. Open An Accounting/Auditing Firm

One of the best business ideas for top professionals to make money in Nigeria.

All business needs accounting and auditing services because of their everyday transactions.

As cost rises, companies want to audit their account to find errors in their expenses.

And so they are in search of a reputable accountant and/or auditor.

To gain your first big clients, you need to show what makes you better than your fellow accountant.

And how well you can help clients improve their finance, so they focus on other things.

To make money with this untapped business in Nigeria :

  • Be specific and focus on the type of clients you want to work with.
  • Decide early if you want to work on personal finance or small business tax and payroll planning.
  • Aside from your formal education, learn human and sales skills.

3. Publish Books

A lucrative business in Nigeria for creatives.

Everyone has a book in them, they wish to write someday.

Your work is to turn people’s dreams into reality by helping them publish their books.

Your service may also include transcribing those words to audio formats.

Or translating to an unfamiliar language in total.

Because you publish physical books, does not mean you can’t produce eBooks as well.

To make money with this hot business in Nigeria :

  • Design a website where you blog about writing.
  • Partner with top publishers abroad to print their books in local languages.

4. Business Broker

One of the untapped business opportunities in Nigeria and Africa as a whole.

If you ask me, “AY, what is the work of a business broker?”

I will answer, “To match clients who want to sell their businesses with others who want to buy.”

An investor believes it is much easier to profit from an existing business than start a new one.

So, they hunt for succeeding businesses to buy. Hence, the need for a business broker.

To make money with this untapped business in Nigeria:

  • You need listening skills and the ability to negotiate to victory.
  • You may choose to work with the seller or the buyer. Sometimes, both if you can.
  • Do a good knowledge background of the business and get the necessary legal documents.
  • Attend business events and network with business owners.

5. Business Plan Writing

One of the best business ideas you can start with no money in Nigeria

The number of startups in Nigeria is increasing day by day.

And whether they like it or not, business owners will come to need a plan someday, for reasons below:

  • To document structures and goals of the business and the role of everyone in the team
  • To win investors’ interest in the current and future profitability of the business.

Yesterday, I received an email from someone needing a business plan.

We spoke on the phone and closed the deal in 15 minutes with great pay.

This idea is a profitable one if you have the passion to help small businesses win grants and get funds.

To make money with this untapped business in Nigeria?

  • You need high persuasive writing skills to win investors with words.
  • Ask clients to refer you to their fellow entrepreneurs.
  • Keep your works with previous clients, you will need them for reference someday.
  • It’s best as a side business, so get something else to do as an addition.

6. Career Coaching

Among the list of top business ideas to make money in Nigeria

Career coaching is today an untapped business in Nigeria because of the many persons needing help in this area of their life.

As a career counsellor, don’t think your work stops at helping people choose what career option is best for them.

You will also be helping your clients deal with work challenges they will be facing with employers.

Also, you can also offer CV and resume services and even charge to help candidates apply for jobs.

Your biggest advantage is that the economic downturn doesn’t affect you.

Because the more people lose their jobs, the more they will need you.

To make money with this business in Nigeria:

  • Work on your focus level, as most clients you will be working with lacks clarity on what is best for them.
  • Verify if a candidate is an ideal one via email, then phone before meeting one or one.
  • Partner with recruitments agencies and private companies to better expand your reach.

7. Catering Services

Another small business opportunity you can operate from home.

Do you know how to cook well? I mean the finger-licking kind of food.

Almost all caterers I know operate this idea as a side business, working from home.

Instead of waiting for people booking you for events, you can deliver lunches for offices.

With time, the manager may ask you to cook for their next regional meetings.

And some staff members will even book you for their church and personal events.

Also, you can enrol students who pay you to teach them how to cook certain food.

Or sell courses of your videos showing how to cook a particular food.

How do you make money with this business in Nigeria?

  • Show yourself to be neat at all times.
  • You must be ready to work, sometimes late into the night, so you can deliver early the next morning.
  • Buying ingredients in surplus saves you from the market fluctuation of prices.

8. Cleaning Services

One of the business ideas to make money while making places clean.

Most people are busy today that they don’t have the time to put their rooms and surroundings in place.

Either in private homes or offices, there will always be a need for a cleaning service.

It is one of the best small business ideas in Nigeria, you can start with low capital.

You finish cleaning a particular house, you move to the other.

Now, it is not compulsory you must be the one doing the cleaning.

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For me, I prefer the cleaning service to a full-time house help.

To make money with this untapped business in Nigeria

  • Make your employee happy and care for their personal being as you care for your clients.
  • Let clients sign your cleaning service policy, so they don’t abuse your time and efforts.
  • You can have employees and station them to different locations with rotations often.

9. Computer Training & Repair

One of the small scale business ideas for ICT lovers to make money.

In today’s digital world, it becomes of necessity to have a computer.

If you don’t use it for business, you will for a school project or personal purpose.

This makes everyone your potential client for training or repairs.

As a tutor, you need a wide range of skills such as Microsoft Office, Corel Draw, Photoshop, and more.

As a repairer, you need an excellent knowledge of both the hardware and software components of a computer.

To make money with this business in Nigeria:

  • Communicate problems to your clients in non-techie words.
  • An excellent presentations skills will set you apart in your training.
  • Have training materials to avoid repeating the basics with every student.

10. Counsellor/ Psychologist

Another business opportunities for those who love helping people.

There are many self-help guides out there on the web.

But none can replace the feelings of having someone to talk to.

People want to share the intimate part of their life with someone they can trust.

So you must be mature enough to handle matters of emotions.

This business is for you if you love to solve human problems.

How to make money with this business idea in Nigeria:

  • Listen to clients’ problems enough to avoid all forms of assumptions.
  • Be good with your time, so no clients waste your day on trivial issues.
  • Respect the privacy of your clients by hiding their identities.

11. Courier Delivery Service

One of the business ideas in Nigeria with low capital and high profit.

Want to deliver important documents to another state or city?

You need a courier service with a reliable transportation system to avoid delays.

Expert knowledge of this business will profit you in a quick time.

You can group a few items together to deliver at the same time, which helps in saving costs.

To make money with this business idea in Nigeria:

  • You need to be extra careful not to misplace documents, as most will be original.
  • When you deliver the parcels, notify clients of your delivery.

12. Day Care / Nanny Services

One of the best business ideas for ladies in Nigeria.

With more women choosing a career path, the daycare business has been growing fast.

You don’t have to deal with children alone, including adults.

The daycare service is one of the small business ideas you can start from home.

All you need is the state and federal approval of your business to avoid legal issues.

Often, you don’t have to carry out the service yourself.

You can hire people and send them to clients’ houses.

To make money with this untapped business in Nigeria :

  • Have a love to be around the extreme ends of age–the little children and adults.
  • Be friendly in-person and of moral character, so you win the trust of your clients.
  • Do have a legal contract to avoid any unethical expectations from clients.
  • Ask your clients to refer you to their fellow workers at the office.

13. Disc Jockey (DJ) Service

A unique small business idea for entertainment lovers

There are no doubt live bands cost a lot more than DJ service.

Hence, many party owners prefer to hire DJs to handle the entertainment of their party.

DJs have been around playing as far back as the availability of playing equipment.

To start as a DJ, you need to have your speakers.

But if you don’t, you can always rent one when you have a show.

As a DJ, your best days are weekends, since this is when most events take place.

To make money with this business idea in Nigeria:

  • Understand your audience and know their style of music.
  • Have a wide selection of music from old school to the latest.
  • Be in touch with key figures in the entertainment industry for show slots.

14. Electrician

One of the lucrative business ideas in Nigeria, you can start with 100K

If you can work with homeowners and small business owners, you are always in demand as an electrician.

The majority wants to have nothing to do with electricity; this makes your skill valuable.

Sometimes, you don’t have to wait for damage before someone calls you for repair.

You can meet to discuss potential damage to their current wiring and appliances.

To make money with this business idea in Nigeria:

  • You will need to be good at the cost of materials for a proper quotation.
  • Work with builders to install wires in new houses.
  • Meeting deadlines will help you earn your client’s trust.

15. Event Planning

Any event needs lots of planning to see it successful.

Be it big or small, corporate or casual, religious or circular.

It is your duty as an event planner to plan, organize resources and make supplies for events.

It is good you work for an events’ planner, so you understand the business.

To make money with this business idea in Nigeria:

  • You need to partner with manufacturers to ensure you are getting the best deals in equipment.
  • Invest in wonderful pictures of your events to show potential clients.
  • Partner with photographers, caterers, and more to use for your events.
  • You can also rent materials, but will be best you have yours.

16. Financial Consulting

If you seek to help others grow wealth, this is the best business ideas for you.

Financial consultants are in need, especially as people get closer to retirement.

Individuals want to know where they can spend their money for the largest return.

Your enormous concern will be investment companies that offer this service as an extra to their core.

To make money with this business idea in Nigeria:

  • You need to inspire confidence in the heart of your clients.
  • Be creative in helping people plan their money and achieve their financial goals.
  • A blog where you write about finance is great.

17. Freelance Writing

One of the small business ideas on this list, to make money in Nigeria

Your best bet will be to set yourself apart with content quality from people who charge much less.

As a freelance content writer, you work on projects for individuals, small businesses.

Sometimes, even top companies – no limitation.

And if you are a copywriter, you work with businesses on writing persuasive sales copy.

Also, a copywriter charges far better than a content writer.

Because they write to make customers perform an action–buy, sign up, and more.

To make money with this business idea in Nigeria:

  • You need excellent communication skills, especially listening.
  • Your ability to write unique and creative copies that engage readers.

18. Graphic Designing

Another service business idea in Nigeria

While there seems a lot of competition in this field, your creativity will stand you out.

As a graphic designer, you can work for companies part-time.

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Also, you can set up yourself as an independent designer.

Different companies need your service.

They include publishers, churches, small businesses, and more.

Also, you may decide to have your own studio where others work for you.

To make money with this untapped business in Nigeria:

  • You need to have marketing knowledge to pitch your works to potential clients.
  • Be able to communicate an idea with images and few words.

19. Hair Dressing

One of the lucrative business ideas for ladies in Nigeria

Are you a stay-at-home mom who needs something doing, then hairdressing is for you?

Hairstyling is one of the ancient’s small business ideas our ancestors started at home.

You can set yourself apart with your style of service.

Also, offer a home service for career women. These women will pay more for your time and transportation.

To make money with this business idea in Nigeria:

  • Make your clients look their best to get referrals from them.
  • Ensure you set up your own working hours and days.
  • You can include add-ons services such as professional nail and makeup services.

20. Home Health Care Service

A business you can start and run working from home.

With many elders at home, there is a need for home health care services.

They need someone who will help in bathing, feeding, and walking around.

If you have experience in this field, congratulations.

To make money with this business idea in Nigeria:

  • Hire others who do the job, while you take a pay cut.
  • Be compassionate about the elders you are taking care of.

21. Insurance Sales

A service business idea in Nigeria with low investment

One of those ways is dealing with only businesses and not individuals.

To go deeper, you can niche down to a certain type of business.

To make money with this business idea in Nigeria:

In this business, your approach is more important than your sales skills.

To succeed as an insurance agent:

  • You need to offer dedicated service to your clients.
  • Help potential clients see reasons they need your insurance service.
  • Be ready to accept rejections on phones.

22. Interior Designing

This is an uncommon business idea in Nigeria, with few people doing it.

As people rent houses, they will need to make them beautiful.

If you like creating your clients’ dreams in their homes, you can choose this small business idea.

As an interior designer, you will spend much in the early part of your business on marketing.

But once you have your first client base, they will keep calling for repeat work.

To make money with this untapped business idea in Nigeria:

  • You need to be current about the latest home fashions and accessories.
  • Work with builders, contractors, and event planners for referrals.

23. Jewellery Making

A lucrative business to start with, 500K in Nigeria

When you hear, small but mighty, it is jewellery.

People will spend thousands and millions of Naira to buy jewellery.

The jewellery-making business requires you to work using beads and precious stones.

If you are starting, you can go for training.

To make money with this business idea in Nigeria:

  • Attend trade and open fair events.
  • Promote your ready-made products on social media.
  • Be available to make a custom design for clients who request them.

24. Laundry Service

One of the daily income business ideas in Nigeria for students.

Starting a laundry business needs low or no capital.

All you need is soap, starch, and iron.

As time goes on, you can consider getting a washing machine.

In your marketing activities, target working men. They don’t have time to do laundry themselves.

Give out business cards to strangers.

You never can tell – they may call you to pick some clothes.

To make money with this business idea in Nigeria:

  • You either love laundry or hate it.
  • Accept the blame when customers complain.
  • Ask existing customers to refer you to their friends.

25. Lawn Care Service

An untapped business in Nigeria

We love clean surroundings but find it hard a task to do.

This includes weeding, trimming, and leaf removing.

You can make money for yourself by selling this service to house owners and office occupants.

But you need basic equipment to get started. And as time goes on, you can get your own mower.

To make money with this business idea in Nigeria:

  • Take your time to finish cleaning before moving to the next.
  • Scheduling to clean nearby houses saves you on transport and time.
  • You can hire people to do the job, while you pay them per work completed.

26. Law Service

A business idea unique to law graduates.

There is a high level of unemployment in the country for law graduates.

The best you can do with your degree is to start a business with it.

Set yourself, create your client base, charge your price, and head for success.

As an independent lawyer, people will need you in matters of negotiations and divorce.

And also in cases or real estate, people will need you.

After signing their agreements paper, they pay you 5% of the transaction fee.

To make money with this business idea in Nigeria:

  • Make friends with top profiles in your community, telling them what you do and how you can be of help.
  • Get down payments before you begin work with a client.

27. Makeup Artist

A perfect home business idea in Nigeria.

Are you good at covering facial flaws? Do you know how to bring out the beauty on someone’s face?

If yes. Then, this business is good for you.

As a makeup artist, be ready to work on weekends.

You will attend your most events on Saturdays.

Your clients’ base (the people you work with) has no limit.

This ranges from brides to new moms to working class to college students.

Your understanding of types of faces is will set you as a professional.

To make money with this business idea in Nigeria:

  • You need some makeup kits.
  • Be ready to offer home service.
  • Seek to offer your service to groups rather than individuals.

28. Marketing Consulting

A creative business in Nigeria for the smart few.

Marketing consulting is the second largest in the category of consulting after management.

Businesses want customers, so marketing becomes a must for them.

Small business owners will hire you to promote their brands.

To make money with this business idea in Nigeria:

  • You must be creative enough to create marketing copies that sell.
  • Ensure you have a legal agreement with clients before you work.
  • Plan and execute strategies that bring results.

29. Music Training

One of the cheapest businesses to start in Nigeria.

Do you understand music and are ready to pass on your knowledge to beginners?

Then, you can become a music instructor, as you will have lots of students wanting to learn from you.

Your job is to teach the art of singing and playing instruments.

You can increase your income by selling and renting musical instruments to churches and your students.

To make money with this business idea in Nigeria:

  • Promote your live recording on social media and ask friends to share.
  • Play at church programs, public gatherings, birthdays, and more for visibility.
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30. Online Marketing Specialist

No.1 on the list of all online business ideas to make money in Nigeria.

Marketing is good, but online marketing is way far better.

Your duty involves promoting small businesses on the internet via an electronic device.

These electronic devices include smartphones, tablets and computers.

As an online marketer, your client expects you to deliver more than the conventional.

To make money with this business idea in Nigeria:

  • Always stay updated about the marketing industry to keep learning.
  • Have expert knowledge of how customers think and what makes them buy.
  • Educate owners on the need for your service for their business.
  • Get strategic methods to attract clients in a quick time.

31. Online Retailing

This idea is also known as an eCommerce business.

If you don’t enjoy sitting at a place, then online retailing is best for you.

As an online retailer, you will need a fast website that fits all devices.

Also, make your website easy to navigate without stress.

To make money with this business idea in Nigeria:

  • It’s best you focus on a niche and succeed with it first before expanding.
  • Promote your products on social media and search engine advertising.

32. Personal Assistant

This business idea somehow comes with politics

Consider the personal assisting business if you have proper organizing skills.

A personal assistant needs the will to help busy people.

A lot of working professionals are looking for someone they can send on errands.

They need someone to remind them of their meetings and more.

This is a glorious business if you have high-paying clients.

To make money with this business idea in Nigeria:

  • Become good with goal setting and time management.
  • Rest a lot to preserve your mental energy for good decision-making.

33. Pet Training

One of the uncommon business ideas in Nigeria

Pets like dogs and cats need training based on the job they are to perform.

While their owners can do some home training with their pets, those are on a basic level.

A pet trainer can help with specialized training for the exact owner’s purpose.

To make money with this business idea in Nigeria:

  • Present your service to owners, helping them see why their pets need your training.
  • Have a good relationship with vet doctors as they meet with potential clients often.
  • Sell pets and their feeds as an add-on service to your clients.

34. Photography

One of the easiest but lucrative business ideas in Nigeria

No matter your camera quality, you always have this unexplained respect for cameras.

There is no other reason than they produce better output than phone cameras combine.

No, I am not talking about knowing how to press the shutter button. I mean trained skills.

One wonderful thing about this business idea is you can start without having your camera.

I have a friend, who as of 2019, rents a camera whenever he needs to work in events.

To let you know, photography is one of the profitable business ideas in Nigeria.

By 2021, he has built his own studio filled with all equipment you can ever think.

To make money with this business idea in Nigeria:

  • Get or rent good cameras and laptops for editing. Knowledge of Photoshop is vital.
  • Be active on social media and display your work often so potential clients tend to spot you.
  • When you are not working, go into the street and snap creative random pictures to sell online.

35. Savings and Contributions

Another untapped business opportunity in Nigeria.

By contributions, I mean Osusu or Ajo (Yoruba).

Helping people save their money while you also make money without stress.

Convince ten people to save with you–at least N10,000 per month.

Invest the money with reputable companies for at least 10% per annual return.

If you collect 10K from 10 persons per month, that makes 100K.

100K times 10-month gives us N1 million naira.

By year-end, return their money while you keep the interest in it.

To make money with this business idea in Nigeria:

  • Be in control of your life and content with what you have.
  • Lock the money in a one-year investment plan, where you don’t have access until maturity.
  • Never disclose the investment company you are using.
  • Ask for 1% of their savings with you at the end of the year.
  • Keep your mind open to prosperity.

How to Start These Untapped Business Ideas in Nigeria

1. Validate Your Business Idea

One thing is to choose from the list of the best business ideas in Nigeria; another is to have an existing market for it.

Conducting market research before starting is very crucial to your business’s success.

Please, be sure you don’t become attached to any idea, so you can carry out proper vetting.

2. Write Down Your Plans and Goals

Get a business plan while you write down your goals.

The best business idea without actionable goals leads nowhere.

So, take your time to write:

  • Why you want to start with this idea – very important.
  • What problems do you want to solve and for whom?
  • How you plan to achieve your business goals in the next 3 to 12 months.

3. Get Names for Business Ideas

You may discover there are two to three ideas you can combine.

Whether you choose only one or more than, you will need a business name to house these ideas.

The business name becomes the legal identity used to identify and summarize what you do.

But then remember, your business name is not yet legal until you register it with CAC.

If you need help registering your business, email me at Hello@Oluboba.com

My advice on choosing a business name:

  • Avoid a keyword business name.
  • Avoid a catchy or trending name.
  • Check the availability of your name online before settling down with registration.

4. Start Production

By production, I mean, to start, the core function of your business.

This could be buying materials to make products or creating and publishing content.

Don’t fall into the trap of getting busy and not getting productive.

If your vehicle (business idea) is taking you nowhere, come down (pivot) and take another.

Promote Your Business Online

Online marketing strategy increases your chance of success with any business idea.

But how do you reach new customers and get more sales with online marketing?

  • Start with a Facebook group, then a page.
  • Design a website educating your audience about the industry.
  • Have a shop on the website where a visitor can order your products or services.
  • Publish quality content that meets with users’ search intentions.
  • Perform on-page and off-page SEO on your website to rank top in your local.

Do you need help with online marketing? Contact me at Hello@Oluboba.com

Conclusion On Untapped Business In Nigeria

The majority of the best business in Nigeria is untapped, and you can start with low capital.

If you desire entrepreneurship, consider choosing among the hot business ideas on this list.

23 thoughts on “29 Untapped Business Ideas To Make Money In Nigeria”

  1. To everyone who has started or is thinking of starting their own business: Believe in yourself and never give up!

    • Hmm!

      Very beautiful piece. I hope someone finds it encouraging. Thanks, Victor.

  2. While there are many great business ideas here, the career consulting resonates more with me.

    And thanks for the tips you gave on succeeding with the business.

    • MY pleasure, Samuel. Have a nice time in your consulting business.

  3. I will love selling on platforms like Jiji and Jumia. But I just think those platforms are messed up.

    • That depends on your definition of messed up. On the same platforms, I have friends making six to seven figures every month. You can meet someone who knows better to help.

      Thank you, Ayodele.

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