If you think you need millions of naira to start a business in Nigeria, think again. Across the country, young and ambitious entrepreneurs are turning modest capital into profitable ventures. With less than ₦2 million, you can set up a wide range of businesses that solve everyday problems, bring in steady cash, and even grow into something much bigger. This article takes you through 50 practical business ideas—grouped into categories—along with startup costs, potential profit margins, regions where they thrive, training needs, and smart partnership tips. We’ll keep it casual but professional, so you can actually picture yourself starting today.

Starting a business in Nigeria can feel overwhelming, especially when you hear stories of people needing tens of millions of naira to get off the ground. The truth is, many of the most successful entrepreneurs began with little and built gradually by focusing on solving everyday problems. From selling foodstuff in bulk to running a Point-of-Sale (POS) outlet, from small-scale farming to digital services, the opportunities are everywhere if you know where to look.

This guide was created for aspiring entrepreneurs who have less than ₦2 million to invest but are determined to make their mark. In a country with over 200 million people, constant demand for food, clothing, transport, education, and digital services creates a fertile ground for small businesses. The beauty is that many of these businesses are not only affordable to start but can also scale into much bigger operations over time.

We will explore 50 business ideas across different categories: financial services, food and agriculture, fashion and beauty, digital and knowledge-based ventures, lifestyle products, transport and logistics, entertainment, and low-capital quick wins. Each section explains the startup cost, estimated profit margin, best regions to start, training needs, and possible partnerships. You will also find a roadmap on how to pick a business idea and launch it within 90 days.

Whether you are a student looking to earn extra income, a worker tired of salary dependence, or a young entrepreneur ready to build a legacy, this guide will show you that starting small is not a weakness but a strength. With determination, strategy, and consistent effort, these small beginnings can grow into businesses that provide stability, jobs, and long-term wealth.
Financial & Service-Based Businesses

POS / Agency Banking

Startup Cost: ₦30k–₦2m
Profit Margin: 20–30% monthly ROI
Best Regions: Lagos, Abuja, Kano
Training: Fintech onboarding free
Partnerships: Partner with microfinance banks

Tutoring Services

Startup Cost: ₦0–₦200k
Profit Margin: 90% profit margin
Best Regions: Ibadan, Enugu, Abuja
Training: Just subject expertise
Partnerships: Schools, parents associations

Real Estate Agency

Startup Cost: ₦0–₦500k
Profit Margin: 5–10% commission per deal
Best Regions: Lagos, Abuja, Port Harcourt
Training: Minimal, learn basics
Partnerships: Property developers

Laundry Pick-up App

Startup Cost: ₦500k–₦2m
Profit Margin: 30–40% ROI
Best Regions: Urban estates
Training: App development training helpful
Partnerships: Drycleaners, delivery riders

Mobile Phone Repairs

Startup Cost: ₦150k–₦500k
Profit Margin: 50–70% ROI
Best Regions: Every major city
Training: Vocational training ₦100k+
Partnerships: Phone dealers

Food & Agriculture

Fish Farming

Startup Cost: ₦500k–₦2m
Profit Margin: 20–25% per cycle
Best Regions: Ogun, Rivers, Delta
Training: Fisheries training
Partnerships: Hotels, restaurants

Poultry Farming

Startup Cost: ₦1m–₦2m
Profit Margin: 25–30% ROI
Best Regions: Southwest, Southeast
Training: Vocational training ₦50k+
Partnerships: Food vendors

Garri Processing & Packaging

Startup Cost: ₦500k–₦2m
Profit Margin: 35–50% ROI
Best Regions: Ondo, Ogun, Kogi
Training: Farmer cooperatives
Partnerships: Supermarkets, distributors

Foodstuff Resale

Startup Cost: ₦100k–₦1m
Profit Margin: 15–25% ROI
Best Regions: Ibadan, Enugu, Jos
Training: Minimal training
Partnerships: Wholesalers, churches

Plantain Chips Production

Startup Cost: ₦200k–₦1m
Profit Margin: 40–60% ROI
Best Regions: Lagos, Onitsha
Training: Short courses
Partnerships: Schools, supermarkets

Honey Processing & Sales

Startup Cost: ₦300k–₦1m
Profit Margin: 60–70% ROI
Best Regions: Kaduna, Benue
Training: Basic food hygiene
Partnerships: Health shops

Ice Block Production

Startup Cost: ₦1m–₦2m
Profit Margin: 40–50% ROI
Best Regions: Urban markets
Training: Vocational training
Partnerships: Food vendors

Palm Oil Business

Startup Cost: ₦200k–₦2m
Profit Margin: 20–40% ROI
Best Regions: Anambra, Edo, Cross River
Training: Minimal training
Partnerships: Retailers

Mobile Food Vending

Startup Cost: ₦200k–₦500k
Profit Margin: 30–50% ROI
Best Regions: Cities and campuses
Training: Cooking skills
Partnerships: Corporate offices

Catering & Snacks

Startup Cost: ₦50k–₦2m
Profit Margin: 35–50% ROI
Best Regions: Lagos, Port Harcourt
Training: Catering schools ₦50k+
Partnerships: Event planners

Fashion & Beauty

Thrift Fashion (Okrika)

Startup Cost: ₦100k–₦1m
Profit Margin: 30–70% ROI
Best Regions: Lagos, Aba, Onitsha
Training: Minimal
Partnerships: Instagram vendors

Wig Making & Revamping

Startup Cost: ₦50k–₦500k
Profit Margin: 50–80% ROI
Best Regions: Lagos, Port Harcourt
Training: Training ₦50k–₦100k
Partnerships: Hair vendors

Fashion Design & Tailoring

Startup Cost: ₦200k–₦1m
Profit Margin: 40–60% ROI
Best Regions: Every city
Training: Tailoring school ₦100k+
Partnerships: Boutiques

Beauty & Makeup Artistry

Startup Cost: ₦100k–₦500k
Profit Margin: 60–70% ROI
Best Regions: Urban centers
Training: Beauty schools ₦100k+
Partnerships: Bridal/event planners

Children’s Haircare Studio

Startup Cost: ₦1m–₦2m
Profit Margin: 30–40% ROI
Best Regions: Lagos, Abuja
Training: Salon skills
Partnerships: Schools, daycares

Digital & Knowledge-Based

Digital Skills Training Hub

Startup Cost: ₦1m–₦2m
Profit Margin: 40–60% ROI
Best Regions: Ibadan, Enugu, Benin
Training: Short bootcamps ₦200k+
Partnerships: NGOs, universities

Blogging & Content Creation

Startup Cost: ₦50k–₦200k
Profit Margin: Ad-based (scales later)
Best Regions: Online
Training: Self-learning
Partnerships: Brands for sponsorship

Graphics & Printing

Startup Cost: ₦300k–₦1m
Profit Margin: 20–30% ROI
Best Regions: Urban hubs
Training: Graphics training ₦50k+
Partnerships: Event planners

Cybercafé & Printing

Startup Cost: ₦700k–₦2m
Profit Margin: 25–35% ROI
Best Regions: Near schools
Training: IT skills
Partnerships: Students, exam bodies

E-commerce Store

Startup Cost: ₦200k–₦1m
Profit Margin: 25–40% ROI
Best Regions: Nationwide online
Training: Minimal
Partnerships: Suppliers, delivery firms

Home & Lifestyle Products

Scented Candles

Startup Cost: ₦200k–₦1m
Profit Margin: 40–70% ROI
Best Regions: Urban middle-class areas
Training: Workshops ₦30k+
Partnerships: Lifestyle stores

Artisanal Soap & Skincare

Startup Cost: ₦200k–₦1m
Profit Margin: 50–70% ROI
Best Regions: Lagos, Kano
Training: Vocational ₦50k+
Partnerships: Spas, beauty shops

Liquid Soap Production

Startup Cost: ₦30k–₦500k
Profit Margin: 40–60% ROI
Best Regions: Everywhere
Training: Community training
Partnerships: Schools, salons

Laundry Soap & Detergent

Startup Cost: ₦100k–₦1m
Profit Margin: 40–60% ROI
Best Regions: Nationwide
Training: Vocational
Partnerships: Local shops

Used Furniture Refurbishing

Startup Cost: ₦500k–₦2m
Profit Margin: 50–60% ROI
Best Regions: Ibadan, Benin, Nsukka
Training: Apprenticeship
Partnerships: Movers, landlords

Interior Decoration

Startup Cost: ₦300k–₦1m
Profit Margin: 30–50% ROI
Best Regions: Urban rich areas
Training: Short design courses
Partnerships: Event centers, homeowners

Transport & Logistics

Delivery Services

Startup Cost: ₦500k–₦2m
Profit Margin: 20–30% ROI
Best Regions: Lagos, Abuja, PH
Training: Logistics training
Partnerships: E-commerce vendors

Motorcycle Repair Shop

Startup Cost: ₦200k–₦500k
Profit Margin: 40–50% ROI
Best Regions: Lagos, Kano
Training: Apprenticeship
Partnerships: Riders’ unions

Car Wash Business

Startup Cost: ₦200k–₦2m
Profit Margin: 30–40% ROI
Best Regions: Cities nationwide
Training: Minimal
Partnerships: Fuel stations

Mobile Car Mechanic

Startup Cost: ₦100k–₦500k
Profit Margin: 40–50% ROI
Best Regions: Urban centers
Training: Vocational ₦100k+
Partnerships: Fleet companies

Car Spare Parts Sales

Startup Cost: ₦1m–₦2m
Profit Margin: 20–25% ROI
Best Regions: Onitsha, Lagos
Training: Market experience
Partnerships: Transporters

E-hailing Driver

Startup Cost: ₦0–₦2m
Profit Margin: 25–30% ROI
Best Regions: Cities
Training: Driver training
Partnerships: Uber, Bolt, InDriver

Community & Entertainment

Sports Viewing Center

Startup Cost: ₦1m–₦2m
Profit Margin: 30–40% ROI
Best Regions: Urban/rural football areas
Training: Minimal
Partnerships: Beer parlors

Gift Curation Services

Startup Cost: ₦200k–₦1m
Profit Margin: 30–40% ROI
Best Regions: Lagos, Abuja
Training: Event training helpful
Partnerships: Corporate firms

Barbecue & Suya Spot

Startup Cost: ₦300k–₦1m
Profit Margin: 35–50% ROI
Best Regions: Everywhere
Training: Minimal
Partnerships: Beer parlors, estates

Fruit Juice & Smoothies

Startup Cost: ₦300k–₦1m
Profit Margin: 40–60% ROI
Best Regions: Cities
Training: Food hygiene
Partnerships: Gyms, schools

Mini Bakery (Chin-Chin)

Startup Cost: ₦200k–₦1m
Profit Margin: 30–40% ROI
Best Regions: Nationwide
Training: Short courses
Partnerships: Retail shops

Bakery (Small Scale)

Startup Cost: ₦1m–₦2m
Profit Margin: 25–35% ROI
Best Regions: Everywhere
Training: Bakery schools
Partnerships: Supermarkets

Low-Capital Quick Wins

Phone Charging Booth

Startup Cost: ₦20k–₦200k
Profit Margin: 60% ROI
Best Regions: Markets, campuses
Training: None
Partnerships: Shop owners

Mini Importation

Startup Cost: ₦200k–₦500k
Profit Margin: 30–50% ROI
Best Regions: Nationwide
Training: Online training
Partnerships: Logistics agents

Conclusion: How to Pick a Business & Launch in 90 Days

Starting a profitable business in Nigeria doesn’t require endless capital. What matters most is choosing a business that solves a real problem around you. With ₦2 million or less, you can begin, test your idea, and grow gradually.

Here’s a simple roadmap:

First 30 Days: Research at least three of these ideas, talk to people already in the business, and get trained if needed. Register your business name and gather your initial tools or setup.

Next 30 Days: Launch small. Don’t overthink—serve your immediate network (family, friends, neighbors). Gather feedback, adjust your pricing and refine your service.

Final 30 Days: Expand visibility. Use social media, partner with nearby businesses, and focus on delivering reliable service. Customer trust is the fuel that makes small businesses grow in Nigeria.

By sticking to this 90-day plan, you’ll not only start but also gain traction that positions you for long-term profitability.

References & Useful Sources

entrepreneurs.ng – https://entrepreneurs.ng/business-to-start-with-2-million-naira/
moniepoint.com – https://moniepoint.com/blog/19-small-business-idea-in-nigeria
therosepreneur.com – https://therosepreneur.com/how-much-does-it-cost-to-start-a-virtual-assistant-business-in-nigeria/
goidara.com – https://www.goidara.com/blog/profitable-business-in-nigeria-20-ideas-you-can-start-with-100k
theknowledgeacademy.com – https://www.theknowledgeacademy.com/ng/courses/management-training/business-startup-training-course/lagos/
Wikipedia (Micro-MBA) – https://en.wikipedia.org/wiki/Micro-MBA
Wikipedia (3MTT) – https://en.wikipedia.org/wiki/3MTT
Wikipedia (Tuteria) – https://en.wikipedia.org/wiki/Tuteria
Wired – https://www.wired.com/story/nigeria-fintech