Starting a business in Nigeria doesn’t always require hundreds of millions. With the right idea, strategy, and discipline, ₦10 million or less is enough to build a profitable and sustainable small-scale business. Below are five common small-scale businesses in Nigeria that are proven to be profitable.
Mini importation involves importing goods in bulk from countries like China, Turkey, or Dubai and selling them locally in Nigeria.
What you can sell:
• Phone accessories
• Fashion items (shoes, bags, clothes)
• Hair and beauty products
• Kitchen gadgets and electronics
Estimated Startup Cost (₦5m – ₦10m):
• First importation & shipping
• Branding and packaging
• Online marketing (WhatsApp, Instagram, website)
• Small storage space
Why it’s profitable:
Demand is high, profit margins can reach 30–100%, and turnover is fast if you choose trending products.
Food will always sell in Nigeria. This business focuses on processing and packaging consumable food items for retail.
Popular options include:
• Packaged garri
• Plantain flour
• Palm oil
• Pepper mix and spices
• Local snacks (chin-chin, groundnuts)
Estimated Startup Cost (₦3m – ₦8m):
• Processing equipment
• Packaging materials
• NAFDAC registration (important for growth)
• Branding and distribution
Why it’s profitable:
Food is a daily necessity, and branded local food products sell well in markets, supermarkets, and online.
A small supermarket serving a residential area can generate steady daily income.
Items to sell:
• Groceries
• Toiletries
• Drinks and beverages
• Frozen foods
• Household items
Estimated Startup Cost (₦6m – ₦10m):
• Shop rent
• Shelves and freezers
• Initial inventory
• POS machine
Why it’s profitable:
It’s a cash-flow business. With good location and stock management, profits are consistent.
Poultry farming remains one of the most reliable agribusinesses in Nigeria.
Scale with ₦10m:
• 1,000–2,000 birds
• Layers (eggs) or broilers (meat)
Estimated Startup Cost (₦7m – ₦10m):
• Land or lease
• Poultry housing
• Day-old chicks
• Feed, vaccines, and staff
Why it’s profitable:
Eggs and chicken are in constant demand. With good management, poultry can start generating income within months.
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Instead of running one POS stand, you can operate multiple POS points using agents.
How it works:
• Buy multiple POS machines
• Place them with trusted agents
• Earn commission per transaction
Estimated Startup Cost (₦2m – ₦5m):
• POS machines
• Agent funding
• Branding and monitoring
Why it’s profitable:
Daily transactions mean daily income, especially in areas with limited banking access.
₦10 million is more than enough to start a profitable business in Nigeria if:
• You choose a high-demand market
• You manage cash flow properly
• You reinvest profits
• You stay consistent
If you want, I can:
• Break down one of these businesses step-by-step
• Create a business plan
• Tailor this list specifically to Lagos, Port Harcourt, Abuja, or any state
What are your thoughts???
