Business and Finance

5 Business Ideas You Can Start With Hundred Thousand Naira in Nigeria 2024

5 Business Ideas You Can Start With Hundred Thousand Naira in Nigeria 2024

Starting your own business and working for yourself has become really important ways for people in Nigeria to be financially independent. Regular jobs are still important, but they have some limitations and a lot of competition. On the other hand, if you create your own business, you get to be in charge and be creative. This will help you grow personally and also help with the big problem of unemployment in the country.

In a situation where not having enough money often stops people from starting a business, it’s really important to look at business ideas that don’t cost a lot. A lot of people who want to start their businesses think they need a lot of money to do it. But the truth is, there are many good business ideas that you can start with just a small amount of money. This article wants to talk about five such opportunities that you can begin with as little as a hundred thousand naira. 

POS/E-Payment Business

Running a Point of Sale (POS) or E-Payment business is a steady and long-lasting opportunity in Nigeria. Since money transactions are a big part of our everyday lives, the POS business gives people a convenient option for banking without going to a traditional bank. By providing services like transferring funds, paying bills, recharging airtime, and selling data, a well-run POS can become a trustworthy financial service in a community.

For a POS business to do well, it depends on making smart decisions about where you set it up, the availability of a strong network, and keeping things secure. Picking a place with a good network is important to make sure transactions go smoothly. It’s also smart to be close to banking areas, but not in places where there are already a lot of banks. Security is super important too, especially since you’re dealing with cash. A safe location makes customers feel more confident and keeps the business owner safe from potential problems.

To start a POS business, you don’t need a lot of money upfront. You’ll need some basic things like money for the business, a good space or container, a sign to let people know you’re there, and most importantly, a POS machine. Getting a POS machine from a trusted bank makes your business more reliable.

Phones And Gadgets Charging

In many parts of Nigeria where electricity is not reliable, there’s a great opportunity for businesses that cater to essential needs. Charging phones and gadgets has become a practical solution to deal with the problems caused by the unpredictable power supply. This kind of business provides a useful service by taking advantage of the widespread need for keeping devices connected, especially when the electricity is not stable.

Choosing the right place is important for a phone and gadget charging business to do well. If you set up in areas where the power supply is not reliable, more people will need your charging services. People without stable electricity look for other options, so if you find and serve these places, your business can grow steadily. 

Starting a phone and gadgets charging business requires careful planning and meeting specific needs. You’ll need to secure a space, like a container or a covered stall, get a small generator for power, stock up on original chargers, and set up a board with multiple outlets for charging. Being good at dealing with customers is just as important in this type of service business. 

Mobile Food Vendor And Delivery

Food is crucial for everyone, It is a vital necessity in our daily lives. Recognizing the importance of food presents a promising opportunity for businesses that focus on preparing and delivering it. We now live in a busy world where people have hectic schedules and demanding jobs, many find it challenging to cook. This opens up a significant market for mobile food vendors who can serve the needs of working-class individuals, students, and workers. They provide a convenient and timely solution by offering well-prepared meals to those with limited time or the desire to cook.

Starting a mobile food vendor and delivery business requires a quick and dependable mode of transportation. Unlike regular stores, this kind of business lets entrepreneurs begin without needing an immediate physical shop. Having good cooking skills will give you a competitive advantage, and you can start by cooking at home and then gradually expand the business as it grows.


Writing copy for online content is a profitable opportunity in Nigeria. It’s a way to achieve financial independence with only a small initial investment. Since there’s a lot of demand for different types of content online, copywriting becomes a great chance for people who are good at writing. If you’re good at writing, copywriting can be a path to financial independence. You can choose to do it full-time or as an extra source of income, however, this online business lets you make money from your writing skills.

Starting a copywriting business requires a mix of both natural writing talent and learning. People wanting to become copywriters can improve their skills by checking out resources like books, online tutorials, and courses on platforms such as Udemy and Coursera. With just a laptop or smartphone and a reliable internet connection, individuals can begin this business remotely, without being tied to a specific place. The key to building a successful copywriting venture lies in learning and making use of available tools.

Graphic Design

Graphic design is a field that is in high demand in Nigeria. Many sectors, such as businesses, government organizations, and political entities, are always in need of graphic design services. This makes graphic design a lucrative business opportunity.

Starting a graphic design business requires gaining basic skills and acquiring the right tools. Those aspiring to be graphic designers can learn through online videos, professional master classes, and mentorship programs. Essential tools like Corel Draw, Adobe Photoshop, Adobe Illustrator, Canva, Pixellab, and Logo Maker empower individuals to turn their creativity into a successful graphic design business. The remote nature of this business means entrepreneurs can operate without being tied to a specific location.

Advantages of  Starting A Personal Business

Launching your own business brings a special kind of freedom that’s different from the usual nine-to-five job setup. Unlike the corporate world, where your actions are often directed by bosses, entrepreneurship offers a great level of independence. With a personal business, you get to set your own pace and decide how things are done. This flexibility is especially helpful for people dealing with challenges like aging, health issues, or limited time.

Getting a job is a significant achievement, but getting a dream job can be challenging. The job market doesn’t always offer opportunities that match one’s true passion or ambitions. Entrepreneurship provides a gateway where you can turn aspirations into reality. It lets individuals bring their dreams to life by creating and running businesses that align with their lifelong goals.

Also when it comes to personal business, the focus is mostly on financial rewards. It’s well-known that many employers in Nigeria offer low salaries that often make it hard to meet everyday needs. The rising prices of goods only add to this financial pressure. However, a well-thought-out and well-executed business idea can make a big difference, offering the potential for financial freedom. Entrepreneurship provides a way for individuals to break free from the constraints of low salaries and take charge of their financial futures. The possibility of building a successful business that improves one’s financial situation is a strong motivator, making entrepreneurship an appealing and rewarding path.

Challenges In Starting Personal Businesses

One of the main obstacles that people face when starting their own business is the significant challenge of capital. Setting up a business, no matter its size, requires money for things like infrastructure, inventory, and day-to-day expenses. Limited access to substantial capital can be a major barrier, stopping many from pursuing their entrepreneurial dreams. 

Traditional banks and lenders often have strict criteria, making it tough for individuals, especially those with innovative but low-capital business ideas, to get loans. The lack of enough capital continues to be a tough obstacle, pushing aspiring entrepreneurs to find creative solutions.


Despite the challenge of limited capital, entrepreneurship is changing, providing ways to overcome constraints with relatively low investments. While some might think starting a business with a hundred thousand naira or less is too difficult, many business options challenge this belief. There are innovative business ideas that require minimal capital but offer the potential for significant returns on investment.