Business ideas

Top 10 Most Lucrative Businesses In Nigeria 2023

Top 10 Lucrative Businesses In Nigeria to Start in 2023

Let’s take a quick look at the most lucrative businesses in Nigeria in 2023, they are listed here for you today all because they are among the most profitable businesses in Nigeria at this time. 

Although there’s an article about the Top 10 Profitable Business To Start With 100k In Nigeria 2023 today, I have brought to you the 10 most lucrative businesses in Nigeria, these businesses can easily make you successful if only you take the right step at the right time.  

We all know the high level of unemployment in Nigeria and it’s advisable not to rely on government jobs alone. At least having one or two things to do is one of the attributes which describe a man.  

It’s not news that many businesses require huge capital to start and at the same time some aren’t.  

This top 10 most lucrative businesses in Nigeria is a mixture of both businesses you can start with huge capital and low capital,’ I believe you know your worth already.  


Why Do You Need To Start Your Own Business Today?

[The reason why you need to start your own business and pick from the top 10 most Lucrative Business In Nigeria are:

  1. To Shame Poverty.
  1. Reduce High Level Of Unemployment.
  1. Impact Lives By Creating Job Opportunities For Individuals.
  1. To Become Independent.

To shame poverty, high levels of unemployment, and be your own Boss, an example is Nigeria business icon Aluko Dangote who is currently the richest man in Nigeria today.  

As a business owner, you are able to impact lives by creating jobs for fellow Nigerians/citizens.

Top 10 Most Lucrative Businesses In Nigeria 2023

Top 10 Most Lucrative Businesses In Nigeria 2023
Top 10 Most Lucrative Businesses In Nigeria 2023

Below are some of the most lucrative businesses in Nigeria you need to explore today.

1. Filling Station Business

I said initially that this top 10 Lucrative business in Nigeria 2023 is a mixture of both huge startups and low startups, so number 1 on my list is the filling station business.

Nigeria is blessed with free gifts of nature and one of them is fuel.

Starting a petrol station isn’t the kind of business anyone can rush into, the number one reason is the business guide And strategy two is starting a Petrol Station requires some millions of naira.

The reason why you need to start this business is that it generates income on a daily basis except if you decide not to open.

We all know 80% of Nigerians depend on fuel because it is needed to power generators, vehicles, machines, etc.

2. Farming Business

The second on the list of top 10 lucrative businesses in Nigeria 2023 is Farming.

The reason why our Fathers and Forefathers were unsuccessful in this business is all because of their high level of illiteracy. 

Farming Business will forever remain evergreen and never fade away, it’s a business that existed before my Forefathers!

List Of Farming Business In Nigeria

  1. Palm Oil Farming 
  1. Cocoa Farming 
  1. Poultry Farming
  1. Cassava Farming

3. Local Restaurant Business

Another lucrative business in Nigeria is the local restaurant business, be it a man or woman anyone can venture into the local restaurant business, though this business is mostly ventured into by women, we still have some smart men who have taken advantage of this local restaurant business and become big brands today.  

You as a man, feel shy right?

 It’s possible but we have some men who sell puff puff at the roadside and have become wealthy men today.  

You don’t need to sell it yourself, you can employ someone to sell it for you. All you need is a capital of at least N100,000, which is a good amount for a startup.

4. Cooking Gas Business

We can’t go without including this in the 10 most lucrative businesses in Nigeria today, I can no longer say this is an untapped business because we now have many people who are already into this business, yet it didn’t affect your business/sales, reason being, majority of people now use gas to cook and it’s getting rampant every day even in villages.

You can become a cooking gas retailer and refill gas for final consumers.

Starting a gas cooking business does not require huge capital, it’s a business you can start with N100,000 or more.

5. Fashion Boutique Store Business

Nigerians are lovers of partying, I’m a citizen of Nigeria who lives in Nigeria, that is why I can boldly tell you fashion boutique store business is a trending business, Nigerians love partying, burial ceremonies, wedding ceremonies, naming ceremonies, there’s always a special uniform for each event.

It’s a very profitable and lucrative business in Nigeria that anyone can start. Starting this business does not require huge capital.

Read: How Much Can You Really Make As A YouTuber in Nigeria? – How To Make Money on Youtube

60k to 100k can get you a good number of beautiful dresses which can be resold at reasonable prices.

6. Mobile Phone Accessories

Mobile phone Accessories are a lucrative business and profitable business in Nigeria.

According to statistics, the number of phone users is likely to grow by more than 140 million in the year 2025.

 This means sales of phone accessories will grow higher. Imagine 150 million people using phones, how much do you think people will spend on phone accessories daily?

Phone accessories such as earpieces, batteries, battery chargers, power banks, screen guards, pouches, and memory cards are in high demand. 

No location is too bad for selling phone accessories but it’s advisable to sell in an open area for faster sales and huge income.

As a phone Accessories seller, you have the opportunity to get your items listed on Jumia ( you just need to apply as a vendor and start selling your items, also you can have your own E-commerce website like Jumia, developing your own E-commerce website may seem too difficult but I’m always available here for help.

7. Snack Business

No 7 on the list of top 10 lucrative businesses in Nigeria 2023 is Snacks, we all love snacks. We see it everywhere on a daily basis, snacks which include plantain chips, chin-chin, puff puff, egg roll, and popcorn.

The snack business is a type of business that doesn’t require breaking your bank account before you start.

The majority of the types of snacks listed above have a low start-up of less than N50,000 except for popcorn.

Starting a popcorn business requires some amount of money because you need to have at least a minimum of N100,000 or N150,000 but it always remains one of the best businesses you can start in Nigeria.  

8. Recharge Card Business

I said earlier that according to a report, the number of phone users is likely to increase by more than 140 million in a year, believe me, so recharge card business sales will increase.  

Almost everyone young and old now has their own mobile phone and there’s no way each person will not need a recharge card to call or data to browse the net.

You can start this business anywhere be it a school, roadside, garage, and many more places.  

Note: I encourage anyone who wishes to start the business to have at least a minimum of N80,000, why?

I said this because it’s highly profitable to start in bulk as it has more profits than selling directly to final consumers.

9. Exportation Business

Products that are mostly exported from Nigeria include cassava, dry fish, palm oil, snails, yam, textile, etc.  

10. Drive For Uber

Uber is commonly used in places like Lagos and some other states in Nigeria, it is a lucrative business you can do and earn on each ride.

Rounding Up On Top To Lucrative Businesses In Nigeria 2023

I have shared with you the top ten lucrative businesses in Nigeria today, however, if you still have a question regarding this article, kindly let’s know in the comments section.


Leave a Reply

Back to top button