• Sat. Dec 3rd, 2022

20 Businesses to start with 20000 and make million In Nigeria

The current situation of the country has prompt many Nigerians to start their own business. Many people’s question is that what business can one start with this range amount (20000 – 50000).

Starting your own business will go along way in boosting your financial status, and the joy of running your own business the way you want will never depart from you.

So in this article i have listed 20 businesses to start with 20000 and make million In Nigeria. And if you have 30000,40000 ,50000 or 100000 you can also run this businesses in Nigeria and start making millions of naira after few months.

But they are many things involved in which i have written in details below.

Advantage of starting your own Small business in Nigeria.

  • Self employed.

One of the best thing in owning your own business is that you will be self employed,as rough as the Nigeria economy is,many graduates,undergraduate,adults are jobless,reasons is because government can not provide job for every citizen.

  • Build your Passion.

Each individual have its own passion and dreams,some are business made. So if you are such no matter any other work you try doing it may not work out except you start a business.

You like selling? Create something that is useful to the society.

If you prefer to make money online in Nigeria click here

  • Self boss.

They is this joy when you are in control of things around you,especially your job,you decide how to run your day to day activities and how to move your business forward.

No issue of query from the company owner or coming to work in the morning and been issued a sacked letter, this are many reasons you have to start your own business in Nigeria.

Qualifications of owing a successful business in Nigeria.


like every other countries round the world,starting a business in Nigeria requires some capital no matter how little or nature of the business is. Capital we are talking about is “money” since this post is talking about small businesses, with 20000,30000,40000,50000 and 100000 you can start the below business i listed here in Nigeria.

  • Seriousness

this is business bro! We are here to satisfy customers wants and make our own money at the end. In fact more reason we are into business is to make money for ourselves, so you have to be serious in every business you are into from going to your work places early each day, customer relationship. To run a successful business you must be serious.

  • Business Location.

Another factor that will determine if your business will grow and be successful is your location, consider the area you are about to setup the location, how is the demand of your services in that area, where you can open gaming shop may not be same as fast food joint .setting up a business in a busy area is one factor your business growth.

  • Branding and packaging.

Don’t lie you as a human likes something unique likewise every other persons. Its not a must you will do what others are doing. Your business environment is your office and your company so treat it as one.

  • Skills.

Though not a business requires special skills but some you must undergo like 2 months training before you can stand on your own. So be ready to learn a new skill 100% practical.

Here Are 20 businesses to start with 20000 and make million In Nigeria.

Mobile money pos/ agent

This mobile money pos agent as the name sounds are Nigeria bank agents in which any individual can come and transfer funds, withdraw money, buy recharge cards, subscribe Dstv, gotv and many other service and at the end pays the agent man few bucks for his services.

Their work are almost same as Atm machine.

So you too can start this business here in Nigeria with at least 20000 And commercial banks will issue a pos machine to you.

How it works !

If someone wants to withdraw below #5000 he will give you #100 and above 5000 to 10000 is #200. This apply also to transferring of fund and depositing. Payment of utility and PHCN bills. This works more in areas without atm close or busy places.

To learn more on this visit any bank close to you.

Akara (bean cake) Business.

Many persons may look down on this business but the truth is that we all enjoys akara, if no one is doing this business well in your area, i advice you go into it.

Also you have to add fried potato, friend yam and sauce, friend fish . with 20000 or more you can start this business, all you need is a stand not really a shop for now but if you can get a shop fine, A big frying pan, gas cylinder , bowl of beans and few other things.

Mini Importation

The mini Importation business is just an online small scale

importation of goods from different countries with a small capital and

selling in your country at a high price. Mini Importation practically

involves buying and selling of goods. With #20000 to #10000 you can start importing from China, Uk, USA,Turkey e.t.c and sell it here in Nigeria.

Try importing hot products like gadgets, slim tea, spot removal scream, teeth whiten product, shoes and fancy bags. All this are hot in demand products and you can market them through Facebook and Instagram also through door to door marketing.

Pop corn business.

Pop corn business is also profitable here in Nigeria and very easy to start no much stress, like other businesses it moves well in busy areas like school gates, bus stops, market places .

All you need is pop corn machine, local one can be constructed at cheap rate also you need special corn, butter, sugar, milk and umbrella stand.

phone accessories business.

Phone is one of the most used tech product in Nigeria and this phone have accessories and parts it works with, lets say you have #20000, #30000 Or #50000 you can easily start this business in Nigeria. Your purchasing market should be Lagos state , Ikeja (computer village ) and Alaba precisely.

Start selling phone chargers, earpiece, batteries , phone pouch, Bluetooth speakers.

See how i started my phone Accessories business here

Fast food joint

Food is everybody’s needs and not all cooks at home always,so think about starting a fast food joints, its not must to open a big shop for this.

Just look for a good location around. Start selling Noddles and egg, toasted bread, coffee, E.t.c

Bread supply.

You can start supplying bread from shop to shop. Buy from bakery in wholesale and add your small thing when selling to retail, its a cool business which you can start with 20000 or more.

Lotto agent.

Nigerians loves gambling and every gambler Wants to double his money, so this is your opportunity to start making money by being a lotto agent ( baba ijebu).

If you are in a busy area you should be making Noting less than 50000 each month.

It have few requirement, just visit their head office and apply as an agent, a lotto machine will be giving to you.

Recharge card distribution business.

This business is moving very well. I mean selling wholesale recharge cards o not selling in small unit, even if you don’t have money you can start this business as long as you know a big dealer who can trust you and give you in bulks after selling you remit the cost price to him and hold your gain.

One advantage of this Recharge card distribution business is that you don’t need to own a shop or stand, just have your small bag and be distributing your card from shop to shop.

Phone selling business.

This phone selling business is not new phones o .. Here am talking about used phones,if you source for good used phone at around 17k you can sell it out up to 25k.

How can you do this ?
  1. go to jiji.ng
  2. Find used mid range phones that look overly worn out and contact the seller.
  3. Confirm from the seller that the phone has no fault like screen or audio issues. Battery problems can be solved.
  4. Bid a very low price.
  5. If the seller agrees, meet at a public place and inspect the phone totally.
  6. If everything checks out, pay and zoom off.
  7. Factory reset the phone and give it a new body. Add screen guard too or replace old one to give it a new look.
  8. Buy casing, phone holder and charger to increase the value.
  9. Go back to jiji and sell it for 3x the price. In the worst case, you will get x2 the price you spent for everything.
  10. Keep repeating it and see your money growing.

Note: There are many bad deals on  jiji and sometimes you can fall for it. But don’t worry, your gains will eventually be higher than your losses. You also have to be brutal and bargain hard when buying the worn out phones. Hope it works for you. Enjoy!

You can also look for anybody that wants to sell second hand phone in your area, take the picture and post it on jiji then increase the price a bit and make your own gain, so with just 20000 you can start this phone selling business in Nigeria.

Barbecue business.

Starting barbecue business is a cool idea, though you must learn how to do it so it can taste nice.

Think about this many persons like eating fish (barbecue) and drinking beer same time, so since you don’t have a enough money to start a beer parlor business the best place to open your barbecue stand is close to any beer parlor around you.

zobo drink business

zobo drink is selling fast daily here in Nigeria, making zobo is not just hard, just buy the few materials needed,get plenty of empty plastic bottles with same size, here we are talking about wholesale zobo drink business so you don’t need owning a shop, just produce in your house and supply to shops around you.

Chin chin/ egg roll/plantain chips.

Chin chin,egg roll and plantain chips maybe small chops but people consumes it daily, so how about producing this things in wholesale and start distributing it to stores and supermarkets around you, package it very well and i assure you it will sell very well.

Dry cleaning Business.

Dry cleaning is the process of washing, drying and ironing of cloths, with little amount as 20000 or less you can start this business in Nigeria.

If you are in a location where electricity is not a problem then its an added advantage. Visit office workers who hardly have time at home, tell them about your business, first make it affordable and also deliver on time.

Data reselling business.

if you are browsing, watching video,downloading or chating on Internet then you need data, they are many online vendors selling cheap data for all network, you can join them and start selling it to your peeps, relatives and in your locality

in case you need help on how to start this business kindly drop your comment and i will reply.

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