20 Best Businesses to Start with 5k in Nigeria

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You are looking for a business to start with 5k in Nigeria? Are you a student looking for a business to start with 5k in Nigeria? If yes, this article is for you.

Starting a business is good but not everyone in Nigeria has the financial capability to do so. This inability alone can discourage people with the best of intentions. Don’t worry!

This article will explain several businesses to start with 5k in Nigeria.

I’m sure you would decide on one business to start with 5k before reading through. So, follow along!

1. Recharge Card Selling Business

Recharge card selling is a profitable business to start with 5k in Nigeria. You can sell both online and offline.

Not everyone will buy a card but everyone needs to recharge, either for data or phone calls. Some of the biggest networks include MTN, Globacom, Etisalat, and Airtel.

2. Drinks and Pure Water Selling Business

Drinks and Pure Water sales are the best businesses to start with 5k in Nigeria. All you need to do is find a very busy environment and a catchy jingle for your business. 

Everybody needs water to quench their thirst and you can make more money selling to people stuck in traffic. A roadside shop might be the best for you.

3. Reselling Farm Produce Business 

Reselling farm produce is a business to start with 5k in Nigeria and change your financial status within a limited time.

With 5k you can visit farmers’ markets to buy fresh farm produce at a cheaper rate and resell it with profit. All you need to do is find out what type of farm produce they need most in your area and start selling.

It can be Yam, Peppers, Fruits, Corn, Palm Oil, Bananas, and others. Buy a stalk of banana at a rate of ₦1500 and resell it at a rate of ₦‎3000.

4. Selling of Honey 

Selling honey is a highly demanding business to start with 5k in Nigeria. You just need to do your research and find out where you can get original and quality honey. Transport it where you are staying, then package it and put a label on it. You can get 3 liters of honey at the rate of 5 and resell it in bits.

5. Egg Retailing Business

Egg retailing business is one of the easiest businesses to start with 5k in Nigeria. All you need is a distributor or a poultry farm to buy eggs for you. 

You can buy some crates of eggs with 5k and sell them in an existing shop or preferably start from home.

6. Okrika Clothes Selling

Okrika clothes selling is another lucrative business to start with 5k in Nigeria. Most Nigerians prefer to wear second-hand clothes at cheap rates. people who can’t afford the cost of new clothes will prefer okrika. With 5k you can buy different London used clothes and shoes

7. Bean Cake (Àkàrà) Selling Business

You can start a bean cake (Àkàrà) selling business to start with 5k in Nigeria. All you need is to buy beans, mix them with water, and fry them. Once fried, you can start selling them to people who love eating them. 

8. Liquid Soap Production

Liquid soap production is another profitable business to start with 5k in Nigeria. It does cost a lot of capital to start liquid soap. All you need to do is to get chemicals and mix but you need to learn how to do it. You can watch some YouTube videos on how to make liquid soap.

With 5k you visit a chemical shop and get chemicals that you need for the production.

9. Popcorn Making Production

Popcorn making business is a very profitable business to start with 5k in Nigeria. You can make popcorn with a frying pan then buy a popcorn machine when your business has grown. All you need to do is to buy maize seed, sugar, and milk (optional) and start your business.

10. Catering Service Marketing

Catering service marketing is a profitable business to start with 5k in Nigeria. You may know about catering, or you may not know about catering. What you just need to do is market cake and every other service that is being offered apart from cake to people.

With your 5k you can make flyers and then distribute them to people. People might need a cake for their wedding ceremony, birthday, etc. All you need to do is find people who are doing it, give them work, and go and present it.

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11. Ice Cream Selling

Ice cream is another profitable business to start with 5k in Nigeria. Different types of ice cream are available in the market; you don’t need to produce them yourself. You need to find out if there are kids and schools in your area.

If there are, then you are very lucky, as kids love every ice cream seller. Another thing you have to do is get a distributor with a standard freezer since you can’t afford that for now. With distributor help, your ice cream can remain frozen until you sell out.

12. Small-Scale Snail Rearing

Snails rearing business is also a very profitable business to start with 5k in Nigeria. All you need to do is find a container or tyre to house the snails. The price of a snail varies depending on its weight, age, and specie. You can start with four to five snails and expand the business as you grow.

13. Iced Block Sales

If you are looking for a business to start with 5k in Nigeria, you can start an iced block business. Due to poor electricity in Nigeria and the fact that there is so much heat in the country. The demand for cold drinks is very high.

You can make money from selling iced blocks. All you need to do is buy ice blocks from a wholesaler and sell them to restaurants, bars, shops, and those that sell pure water and soft drinks. 

14. Groundnut Selling

Roasted groundnuts is a lucrative business when they are prepared properly with the right packaging. You can start with capital between ₦‎2000 to ₦‎5000. You can sell them at roadside stalls, street markets, supermarkets, and mobile vendors.

A bottle of groundnut is sold between ₦‎700 to ₦‎1500 depending on your area.

15. Chinchin and Fries Business

If you have baking skills, or if you don’t have skills and are willing to make money from it, Chinchin and Fries is a business to start with 5k in Nigeria. You can stick with chinchin and fries for the main time, then start other snacks as your business expands. All you need is some flour, oil, butter, and other necessary ingredients.

You can start with your kitchen tools and start supplying them to schools, supermarkets, shops, etc.

16. Bedsheets Business

Another lucrative business to start with 5k in Nigeria is the bedsheets business, there is no household that doesn’t need bedsheets. It is regarded as a profitable business in Nigeria because of the massive turnover. You can get a bedsheet with ₦‎500 or ₦‎600 and sell it as high as ₦‎1200 upward.

17. Affiliate Marketing

Jumia for example, lets you register with them, have your affiliate link, write content to advertise the product you are selling, and then put your affiliate link. People will click on your affiliate link when they need the product and you receive your commission when sales occur through your link.

18. Barbing Salon Business

Barbing salon business is a business you can also start with 5k in Nigeria. All you just need to do is buy clippers that are sold at a rate of ₦‎3000, print fliers, and get them distributed. This time you will be mobile and charge your customers less compared to those who already have a shop. You can open a shop and expand your business if you have made enough money.

19. Cleaning Agent Service

Cleaning agent service is also a very profitable business to start with 5k in Nigeria. All you need to do is buy the cleaning materials, such as detergent, bleach, etc., and the equipment. Move from home to home to deliver your service to those who need it. You can hire extra hands if your business grows.

20. Small Farm

With 5k in Nigeria, you can start a small farm where you grow vegetables or rear local chickens. You can sell your products to earn an income and expand your farm when your business grows.

Frequently Asked Questions (FAQs)

What business can a student start with 5k? 

There are many businesses to start in Nigeria with 5k as a student. You can check out some of the businesses mentioned above. You can start one of those businesses and make a living. 

What business can I start with little or no capital in Nigeria?

Dropshipping is the most lucrative business in Nigeria with low or no Capital. It involves selling various products online. You do not need to have a shop before you can start dropshipping. You sell other products and get commissions.

What is the cheapest business to start in Nigeria?

Digital businesses are the cheapest businesses to start in Nigeria, as they require low capital. You can get started with most of them if you get access to the internet and a smartphone. Examples of digital businesses include blogging, Vbogging dropshipping, skit-making, and so on.

What business can bring daily income bring in Nigeria?

There are a lot of businesses that can bring you daily income in Nigeria. Most businesses that involve buying and selling generate daily income.

Compare Other Business Ideas in Nigeria

Conclusion

Starting a business in Nigeria requires hard work, patience, determination, and perseverance. However, if you grow the business, you won’t regret starting it. Don’t just stop reading this article. We hope you will pick one or two of the business ideas from the listed businesses to start with 5k in Nigeria and start making money. 

Good luck!

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