35 Lucrative Businesses to Start with 100K in Nigeria Online & Offline

  • October 1, 2023

What business can I start with 100K in Nigeria? If you’ve raised some funds with the mindset of starting a business, finding the best and most profitable one may be difficult to brainstorm.

There are tons of business ideas in Nigeria which 100K is a good start up capital. In this post, you’ll find out some of the most lucrative businesses to start with 100K for students, graduates, and even if you’re not educated.

More so, whether you’re looking for an offline business idea, or an online business to start with 100K in Nigeria, you’ll find them all in this post. Just keep scrolling down gently to discover more.

Without further Ado, let’s get started!

Profitable Businesses to Start with 100K in Nigeria: OFFLINE

The most lucrative 100k business ideas in Nigeria in 2023 include:

1. POS Business

POS Business

I believe you’ve thought about a POS business even before search businesses to start with 100K. Am I right?

POS business is one of the most popular and easiest businesses you can start with N100,000 in Nigeria and start making a huge profit from the day you started.

Since POS is the easiest way of carrying out bank transactions in Nigeria, making sales would not be a problem especially if there is no bank or POS agent in your area.

All you need to start this business is just a POS machine which you can get for a cautionary fee of less than N30,000, a kiosk or a table and umbrella, then fund your account with the remaining money, and start completing transactions for people with charges.

Read Also: How to Become a POS Agent in Nigeria with 50K

2. Cooking Gas Business

With almost every household now using a gas cooker, starting a cooking gas business is another profitable business to start with 100k in Nigeria.

To start this business, all you need is a gas tank/bottle, fill it with gas, get a scale, a dispenser, hose pipe and other necessary materials, then you’re good to go.

Keep in mind that you’ll need to learn how to sell gas before starting. This shouldn’t take more than a week.

Don’t Miss: 35 Businesses You Can Start with 50K and Make Millions in Nigeria

3. Phone Charging Business

Almost every state in Nigeria complains about the lake of good electricity, instead of complaining too, with a 100k capital you can use the bad electricity to your advantage by starting a phone charging business.

To start a commercial phone charging business, you’ll need a small kiosk/shop, a generator, chargers, and socket boards, then you’re good to get started.

Phone charging usually cost N100 in most places in Nigeria, therefore if you can charge 30 items consistently every day, you could be generating a revenue of N90,000 monthly. After taking out all the fuel, maintenance and other expenses, your profit should be sitting around N50,000 at the end of the month.

4. Phone Accessories Business

Selling phones and other mobile accessories is another lucrative business to start with 100K in Nigeria.

With your 100 thousand Naira capital, just find a kiosk you can start with. Then, look for and purchase varieties of mobile accessories from wholesalers in markets such as Alaba or Ikeja Computer village in Lagos, and NITA market in Abuja.

Once you have those products, you just need to showcase them in your kiosk to start attracting buyers.

Read Also: Highly Profitable 30K Business Ideas for Students in Nigeria

5. Open a Food Stuff Shop

It is no doubt that foodstuff is one of the fastest and most selling products in Nigeria, especially in student’s areas.

Items such as beverages, Wheat, Semo, Garri, Rice, Spaghetti, and so on, can be sold for good profit at retail prices.

All you just need to do is find a small shop, then located foodstuff wholesalers (there can be found anywhere in Nigeria), buy goods worth N100,000 and sell them at retail prices.

6. Open a Small Cement Shop

Opening a cement shop is another lucrative business you can start with 100,000 Naira in Nigeria and scale.

I have once ventured into this business, did it for years, and made a good profit from it.

Starting this business requires a small shop. Once that is ready, you’ll need to find cement suppliers, negotiate with them one by one and go for the best offer. Usually, I do pay for 70% of the goods supplied, and the remaining 30% after selling about 50% of the stock. This could vary based on your location.

Once the deal is done and your goods are being supplied, you can start selling at retail price and make a good profit. Just keep in mind that this business requires patience.

Related: 30 Lucrative Businesses You Can Start with 1 Million Naira

7. Become a Real Estate Agent

Although real estate is well known as a million Naira business in Nigeria, did you know that without any money you can make money from this business?

To make this work, instead of owning a property, you’ll just need to be a middle man between the owners of the properties and those looking to rent or buy it.

To break this down, as a real estate agent, all that is needed to be done is to find properties for tenants and find tenants for landlords.

Once that is done, you’ll receive a commission referred to as an agent’s fee in Nigeria. This fee usually ranges from N5,000 to millions of Naira depending on the location, and property.

What you need a 100K capital for is adverts. You can create a website, utilize Google Maps, pay Influencers in a related niche, run ads online, and also print flyers to create awareness.

Keep in mind that the success of this business depends on your location. If live in places like Lagos, Abuja, Onisha, Port-Harcourt, and/or the heart of Kano and Ibadan, you could be earning at least N30,000 per property.

8. Open a Cosmetics Shop

Opening a cosmetic shop where you’ll be selling skincare products such as body cream, body oil, tubes, make up kits, and so on, is another easy business to start with 100K in Nigeria for ladies especially.

All you need to get started is a small shop which should cost N1000 to N3000 monthly. Then, find a cosmetics wholesaler, negotiat prices and buy some items that you know would sell fast with huge profit.

You can start marketing these products by advertising to your friends and neighbours. Students too can start this business even without a shop. 

All that is needed to be done is get those products then take them with you to school and advertise them to friends, coursemates, and very at your lodge, or campus.

Check Out: 18 Easy and Trending 5K Business Ideas Online and Offline for Students

9. Recharge Card Business

Starting a recharge card business with N100,000 capital is like on the high end startup capital for this business as you can even start with just N5000.

However, it managed to make my list of the best business ideas to start with 100K in Nigeria because with such a huge capital comes a massive profit.

To start this business, you don’t even need a shop or kiosk, as a table, an umbrella and a medium size cross bag are enough to start with.

Getting recharge cards to resell is very easy as all you need to do is to find wholesalers, negotiate and buy as many recharge cards as your money could purchase.

Once you have those recharge cards in variety, you can just start reselling them at retail prices for a good profit. The profit margin of this business usually ranges from 5% to 20%.

That is with a 100,000 Naira investment, you can make up to N20,000 profit. Since recharge card sells fast, you could be expecting these profits bi-weekly or monthly.

Read Also: How to Start a Recharge Card Printing Business in Nigeria

10. Soap Production & Sales

Soap production

Whether liquid or bar (moulded/solid), soap production is another lucrative business anybody can start with 100K in Nigeria from the comfort of their home.

This business model is sure to drive quick and easy sales due to the fact that everybody needs soap for washing and bathing. So, you can start today and start making sales.

All you need is the necessary chemicals and plastic bottles for packaging for liquid soap. For bar soap, you’ll need moulding, trimming, and cutting machines, then all the necessary chemicals to get this business started.

11. Bead Jewelries Making & Sales

If you’re a fast learner asking the question; what business can I start with 100K in Nigeria? Then try learning and make bead jewelry for sale.

This is a perfect business idea for students who have N100,000 or less to start a side hustle. All that is needed is to enrol in a bead jewelry making training, or watch some online tutorials if you’re a good visual learner.

Once you’re good at making these jewelry, just buy more materials, and make products such as necklaces, bangles, earrings, and so on, in large quantities.

You can start selling them to friends, coursemate, campus/lodgemates, etc. More so, listing those items on E-commerce websites like Jumia, Jiji, and Konga, is another method of getting easy sales.

Related: 19 Lucrative Businesses You Can Start with 150K in Nigeria

12. Shawarma & Barbeque Business

BBQ Business

Selling shawarma and barbeque is a very profitable 100k business to start in Nigeria if you’re living in Luxury-like busy areas such as Abuja, Lagos, and Port-Harcourt.

Taking Mr Sunday Agbor who owns a shawarma spot at Berger in Lagos as a case study. This man makes over 250,000 Naira monthly from selling shawarma.

You too can start this business with 100K, and if done properly, you could get to Mr Sunday’s level making over 250K per month.

All you need to get started is to learn how to make those foods, which shouldn’t take more than 3 weeks to perfect. Then get all the materials and ingredients needed and start making both barbeque and shawarma.

An ideal place to start should be close to a hotel, supermarket, and if possible a filling station.

13. Open a Gaming Shop

Gaming shop is another lucrative business that requires a start up capital of 100K or less.

All you need to get this business off the ground is a small shop that can be rented for around N1500 per month, a generator, a small TV, a PS and/or X-box game player, and pads. All these shouldn’t cost more than N100,000.

Per game played, you can charge N50 a player which is N100 per game. During the Asuu strike, a friend of mine started this business and now making N5000 and above daily.

Although he combined it with the mobile accessories business. Therefore, this business can be combined with multiple businesses including the next one right below.

14. Open a Football Viewing Center

The love of football in Nigeria keeps making football viewing centre owners money every week, as they earn whenever there is a match.

The cool thing about this business is that you don’t need to be active in your shop throughout the week as matches usually occur at weekend, except if there are champions league matches that usually occur midweek.

To start this business, you’ll need to find a relatively big shop which may cost N3000 monthly, then fill it with a couple of benches. Due to a relatively low budget, you’ll need a wide-screen second-hand TV, a decoder, and of course a cable subscription.

Once that is all set, tell people in your area to come to watch football matches, and also write on a board when there are matches, so as to attract more customers.

Read Also: 14 Profitable Businesses to Start with 10K in Nigeria

15. Pastries & Baking Business

Making small chops like puff puff, chin chin, plantain chips, and baking cakes for birthday and wedding parties is another lucrative business to start with 100K for students especially.

This is because as a student, you’ll quickly get sales as students tend to celebrate birthdays at school more than workers.

Once you start with friends, coursemates and campus/logdemates, you’ll keep getting orders from word of mouth advertisements from people if your product looks great and tastes nice.

To start, you’ll need to learn how to make these products by enrolling in training or watching some tutorials on YouTube.

Once you know how to make them, just take your N100,000 and buy all the materials needed, then start with easy ones like chin chin, doughnuts, plantain chips, etc.

Related: How to Start a Bakery Business in Nigeria

16. Jewelry Business

It is no doubt that everybody wants to look nice by putting on fancy necklaces, and eye catching wristwatches that cost a lot.

You know what? You can actually start this business by buying jewelry at wholesale prices and then selling at retail prices.

For example, if you buy a wristwatch worth N10,000 at a wholesale price, you can sell it for N15,000 at retail price, making a profit of N5000.

You can find jewelry wholesalers at big markets in Kano, Lagos, and Aba. Alternatively, you can order those jewelry from China and have them shipped to Nigeria (This method is well explained below in the mini-importation section).

Read Further on: Jewelry Business in Nigeria

17. Selling Clothes

Clothing business

Similar to the jewelry business, selling clothes is another cool business idea you can start with 100,000 in Nigeria.

This business categorized into two. You can sell “English Wears” as most Nigerians call it, or native clothing materials like Ankara, Lace, and so on.

This business is best for those that live in or close to places like Aba, Ibadan, Kano, and Lagos because these are where you can easily find wholesalers of any type of clothing materials at the cheapest prices.

Related: 70 500K Business Ideas That Will Yield Millions in Nigeria

18. Bed sheets & Pillow Case Sales

Another clothing-like business that anyone can start in Nigeria with 100K capital is the bed sheet and pillow case business.

If you’re looking to start this business, it is either you buy bed sheet materials and have them sewed for you by professionals or you look for bed sheet and pillow case wholesalers to buy from and resell at retail prices.

19. Home Service Barbing/Hairdressing

If you know how to barb, or you’re a good hairstylist, you can start making a recurring weekly or biweekly payment just by offering a home service.

This simply means you’ll find people who need your service, render it to them to their satisfaction, and get paid for your work. If done well, you should be expecting calls from those clients every week.

Your 100K can be used to get a clipper and other necessary requirements. You should have about 70K left, I believe.

You can use that N70,000 for advertisements, by paying Influencers and running social media ads. More so, you can create a website to get online orders.

20. Laundry Business

With your 100,000 Naira capital, you can get a washing machine, pressing iron, starch, detergents, and other laundry materials to start a dry cleaning business.

This business model is currently the trend among youths as people especially 9 to 5 workers are willing to pay N1500 per cloth just to have them washed, and ironed.

Starting this business does not necessarily need you to have a shop, as banners, flyers and online advertisements only are okay to get clients.

Similar to home service barbing, this business usually brings returning customers if you give them a first nice impression.

21. Sell Used Items

Used items such as phones, laptops, bikes, generators, and so on can be flipped for good profit anywhere in Nigeria.

With your 100k capital, you can find used items such as a friend’s or neighbour’s phone or bike, buy them for cheap and resell them for good profits.

Reselling used phones is the best way to start this business, as you can easily find people who want to sell their phones, and also easily find buyers too.

22. Small Scale Poultry Business

One of the best and most lucrative livestock farming businesses to start with 100K in Nigeria is poultry farming, as there is high demand for poultry birds and eggs.

To start this business, you must make sure there is a free space where you live. Once that is ensured, find a place to buy 1 to 3 days old chicks (broilers). If you will like the egg business, layers should be the type of birds to buy.

Due to the relatively low budget, you’ll need a free room or set up a small shelter and start rearing them there. Broilers take two to three months to get matured and ready to sell, while layers bring you money when they start producing eggs.

Related: Highly Profitable 300K Business Ideas in Nigeria

23. Snail Farming

Snail farming is another awesome livestock business you can start with N100,000 or less in your backyard if you have a space.

All you need is to find and buy small hybrid African giant snails, build them a shelter in a cold place with shades, then buy their feeds, and start rearing them.

Unlike poultry farming, snail farming may take a year before you start making money. However, the profit is more than poultry farming, and the stress is way lesser than poultry farming.

24. Cassava Farming

With cassava being one of the easy-selling farm produces in Nigeria, venturing into cassava farming is a good and very lucrative business, especially for those that live in the southwestern part of the country.

Cassava is usually used to make Garri, Cassava flour, and animal feeds, and it is also exported out of the country. All these make cassava farming very profitable if done properly.

To start this business, you’ll need to rent land, plough it, and plant your cassava. With proper management, your cassava should be ready for harvest after 12 months, and you see up to 200% ROI with an investment of N100,000.

25. Groundnut Farming

Groundnut farming is another lucrative farming business you can start with N100,000 and get up to 1000% ROI in just 100 days.

A bag of groundnut could range from N30,000 to N80,000 depending on your location, and with an acre of groundnuts, you can get anywhere from 5 to 10 bags.

Now you see how profitable this business can be, right? With a budget of 100,000 Naira, you can cultivate an acre of groundnut without any physical labour as everything will be done using machines.

To start, you’ll need to rent a piece land (one acre), plough it with a tractor, and have other machines handle the rest. All these shouldn’t cost more than N100,000.

With proper management, your groundnut should be ready for harvest within 90 to 100 days.

Related: 25 Lucrative Online Business Ideas for Students in Nigeria


26. Start a Blog

Here in Nigeria, blogging is one of the easiest and most profitable online businesses to start with 100K in Nigeria for students, graduates and anybody who can read and write.

A blog is simply an online business where you create your website, and post your ideas to help others.

All you need to get started is to pick a niche, buy a domain name, create your website, and start publishing articles such as how-to(s), easy tutorials, news, etc.

Ad networks such as Ezoic and Adsense is the fastest way to start making money in Nigeria as a blogger. Affiliate marketing is also a great way to make money from your blog (keep reading to learn how).

27. Become a YouTuber

Have you ever wondered if Brother Shaggi, Oga Sabinus, and Even Emmanuel make money from those videos they post on YouTube?

Of course, they do. Therefore, you can start a YouTube channel, and start posting your videos such as comedy, how-to, tutorials, etc.

Once you meet YouTube monetization requirements, you can start earning money by applying to become a YouTube partner.

What you need 100K for in this type of business is to get a good camera, ring lights, and probably hire some people to build a team.

28. Become a Forex Trader

Forex trading

Forex traders are undoubtedly those that make the coolest money on the internet in Nigeria right now.

With 100K, you can invest and start making a daily profit as a trader. Experts in this business could turn 100K into 200K in just a day or two.

If it’s your first time hearing about it, forex trading is simply a business model where you buy and sell currencies to make a profit. It is an online business that can be started with 100K from the comfort of your home.

All you just need is to learn how to trade forex, get a smartphone and/or laptop, sign up for a reliable broker in Nigeria such as Exness, and ICmarkets, fund your account and start trading to make money.

Keep in mind that forex is the riskiest business model of all businesses listed in this article. You may lose all your money within a day. Therefore, you need to learn before starting.

29. Start Mini Importation

Mini importation is one of the unpopular but very profitable online businesses you can start with 100,000 Naira in Nigeria.

The idea here is to order products such as shoes, phone cases, jewelry, clothes, etc, from China via Alibaba, or Aliexpress and have them shipped to Nigeria where you can collect and resell them for good profits.

Items like shoes may cost N5000 in Nigeria but can be purchased for N1000 from China. That is what makes this business very lucrative and good for anybody in Nigeria.

30. Become a Social Media Manager

You can do like me who started my make money online journey by managing social media pages for other people.

The idea here is to find people (business owners) who need someone to help them handle their social media pages. For this business, Fiverr is the best place to find clients.

In reality, this business only requires a smartphone, with a good data connection and Facebook, Instagram, and other social media platforms. But to scale, you’ll need a little investment of 100K or less to run ads so as to get more clients.

31. Freelance Writing

If you love to write, you can make money online even without investing any money.

This can be done by offering a writing service in return for money on freelance websites such as Fiverr, Freelancer, Upwork and PeoplePerHour.

This business is fun, especially for students who love writing. You can use your 100K to scale this business by creating your own portfolio and running ads online to attract new clients.

32. Graphic Designing

Another easy business you can start from home with 100K in Nigeria is graphic designing.

If you can design a logo, banner, social media posts, flyers, and so on, just sign up on websites like Fiverr, Freelancer, Upwork and PeoplePerHour and start making money by making designs for people.

To make this business a success, you need a little investment to run ads on other websites just like Nairarush, so as to quickly get sales. This is because those freelance websites are very competitive, and you may not get a client for months if you’re new.

33. Affiliate Marketing

Affiliate marketing is one of the most popular online business ideas. This business is very easy to start as all you need is to recommend and refer products to people and earn a commission once they convert.

To starts this business, you’ll need to find a good affiliate program, sign up, get your affiliate link, and then promote it through online advertisement.

Once someone clicks your affiliate link and purchases the product you’re promoting, you’ll get paid some money at no extra cost to the person you refer.

34. Digital Marketing

Similar to the social media management business model, the digital market deals with all kinds of internet marketing.

The idea here is to find small businesses that you know can leverage the internet to get customers. Contact them and help them market their business on the internet.

Keep in mind that you must have digital marketing skills before you can start this business. You can easily learn this skill online.

35. Web Designing

From your 100K capital, just take a little from it and buy a web designing course or enrol in a web designing training program.

Once you have web design skills, you can start offering a web design service and start making money online.

Related: Top 45 Small Scale Business Ideas in Nigeria Right Now

100K Business Ideas 2023 – FAQs

What kind of business can I start with 100 thousand naira?

The kind of businesses you can start with 100 thousand naira in Nigeria includes POS business, sales of cooking gas, laundry business, farming business, making of bead jewelry, blogging, affiliate marketing, forex trading, etc.

What business can I start with 100k in Abuja?

Businesses you can start with 100K in Abuja include POS business, becoming a real estate agent, opening a shawarma/barbeque joint, sales of jewelry, and making of bead jewelry.

Which business can I start with 100k in Lagos?

Businesses you can start with 100K in Lagos include POS business, opening a gaming center, opening a football viewing center, becoming a real estate agent, opening a shawarma/barbeque joint, laundry business, and sales of jewelry.

What business can I start with 100k in Port Harcourt?

Businesses you can start with 100K in Abuja include sales of native clothing materials, POS business, sales of cooking gas, becoming a real estate agent, opening a shawarma/barbeque joint, sales of jewelry, and small-scale poultry farming.

What can I do with 100k?

What you can do with 100K in Nigeria includes starting a POS business, cooking gas business, sales of phone accessories, starting a blog, laundry business, etc.

What is the best way to invest 100k?

The best way to invest 100K in Nigeria is to use it to start a farming business, buy a small apartment to put on rent, or trade forex.


While raising the capital to start a business in Nigeria may be easy, knowing the types of businesses that are profitable and worth starting with 100 thousand Naira may be difficult.

With this comprehensive post, I believe your brain is now filled with some of the most profitable businesses to start with 100K in Nigeria. Now, it’s your turn to take action in putting those ideas into work by starting at least one.