20 Business Ideas in Nigeria to Make 400k Monthly (2024)

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Are their Business Ideas in Nigeria to Make 400k monthly? It is no more news that the fuel subsidy has been removed which makes the price of goods to be double and even triple. Hence, you need to have another source of income.

There is a post made by Chioma Ifeanyi-Eze on her Facebook page on the 30th of December 2023 where she asked her followers how to make 400k monthly. This post is very insightful and educative for any business-minded person.

Business Ideas in Nigeria to Make 400k Monthly
Nigerian Woman Selling Akara

About Chioma Ifeanyi-Eze

Madam Chioma Ifeanyi-Eze is an accountant turned small business marketing expert. She is a brilliant accountant and a business teacher.

According to her she never sold anything as a child, in secondary school, in university, and even during NYSC. The first time she sold was in 2015 while she was planning to transition from paid employment to entrepreneurship.

Now she is one of the highly paid entrepreneurs in the Online space. Furthermore, she shares insightful posts on how to strive well in your business. One of the posts she shared recently was a tip on how to make 400k monthly. I mean profit.

After going through the posts and comments intensively. I have come up with this beautiful blog post (20 business ideas in Nigeria to make 400k monthly) to help you achieve your financial breakthrough in 2024. The has socialmedia presence on platforms like facebook, instagram, twitter and even at chiomasbusinessschool.com.

In this post, I have selected the top 20 comments in her post to give you business ideas in Nigeria to make 400k monthly.

Consequently, I urge you to read, learn, and implement whatever you read in this post wisely.

The 20 Business Ideas In Nigeria To Make 400k Monthly

All the 20 business ideas in Nigeria to make 400k monthly that will be shared in this post are what people have tried and still doing. The list is in descending order;

20. Plantain Chips Bulk Production

Plantain Chips is no doubt one of the business ideas in Nigeria to make 400k monthly if not more as profit. This is because it is one of the fastest-moving small chops in Nigeria.

Besides, plantain chips are a great source of fiber and other nutrients like potassium and sodium. Also, it provides more vitamins A and C than potato chips. Ultimately, plantain chips are also a great source of Omega-6.

People who have ventured into this business know it’s worth it. All you need to do is to make sure you work on your branding and then market it well. The good thing is that you can start on a small scale. This is obvious in Yetunde Peter-Dike’s comment.

19. Data Entry Specialists 

A data entry specialist or a data entry operator is a person who enters information from handwritten into a computer. You must be able to type quickly and accurately if you intend to be a good data entry specialist.

Also, you must be familiar with a variety of software and computer applications, such as spreadsheets and word processors among others. Ultimately, organization, efficiency, and the ability to focus for long periods are important skills in this job.

Fortunately, Mrs. Chioma Ifeanyi-Eze teaches data entry at accountinghub. As a Data entry operator, you can make 400k monthly and even more.

Data entry to make 400k
Data entry to make 400k

18. Vegetable Farming

There is no way a day will pass without people consuming different types of vegetables. Thus, it is one of the business ideas in Nigeria to make 400k monthly. It is one of the most lucrative business ideas in Nigeria you should venture into. 

Vegetable farming simply means growing vegetables for human consumption. The practice started over ten thousand years ago. You don’t need to have a passion for farming before you do this.

You can be a sleeping partner with a trustworthy farmer. However, if you want to cultivate it yourself just get a piece of land or use the backyard of your house, seeds of your desired vegetables, and start cashing out.

Vegetable farming
Vegetable farming

17. Crayfish

The high cost of meat and fish has made most households turn to the consumption of crayfish. Hence, this makes it one of the business ideas in Nigeria to make 400k monthly. Besides, it is more nutritious than both meat and fish.

As it is a good source of low-fat protein, essential vitamins, and minerals among others. To make the most out of this business it is advisable to buy in bags and market it aggressively. 

Crayfish Farming
Crayfish Farming

16. Palm Oil

The palm oil business is very lucrative and will give you 400k monthly. The palm oil can easily be sourced locally from villages and processed with great ROI

palm oil bisiness  as attested by chioma ifeanyi eze on facebook
palm oil business

15. Selling Fried Akara, Potatoes, Yam with Peppered Sauce

You see, the selling of fried Akara and its accomplishments is not just fast selling but very profitable and lucrative.

However, many people may not want to venture into this business because it is not classic to some. However, you can scale it up and make your thousands monthly. But it is important to get a strategic point.

Then sell very early in the morning till like noon and also in the evening. Since most people due to tight schedules may not be able to prepare breakfast before leaving their various homes. So selling Akara will give you your desired financial target.

14. Honey Business

Honey is not just one of the lucrative business ideas in Nigeria but a perfect sweetener for your health. From research 

Honey is known to be an all-natural and readily available cure for many ailments. It helps reduce the risk of heart disease and diabetes and also supports a healthy gut among others. It is also a good alternative to antibiotics.

In light of this, many people prefer to use honey instead of the normal white sugar. Consequently, if you venture into the honey business you can easily make 400k monthly. All you need to do is get a trustworthy distributor, collect from them, and sell.

honey business as attested by Queen Chiwendu on facebook
honey business

13. Egg Business

Another profitable business idea in Nigeria is the selling of eggs. With the egg business, you can make over 400k monthly.

All you need to do is to get a farm that will be supplying you steadily. You can then supply to people. 

Egg Business

12. Selling of Solar Bulbs

We all know that the electricity supply in Nigeria is not stable. Thus, everyone wants an alternative source like solar energy.

However, not everyone can afford the cost of a big solar panel. Hence, the sale of solar bulbs is at a very high rate.

Everyone needs electric power from students, remote workers, supermarkets, and market women among others.

Selling of Solar Bulbs
image 22

11. Web Design and Funnel Building

Web Design simply means creating visual elements and layout of a website. That is, building a website. While Funnel Building is the process of setting up different parts of the sales funnel.

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A Web design is important because it helps people keep their lead on their page that is it increases how their audience perceives their page.

Hence, every business owner will always need a web designer. Consequently, web designing is one of the business ideas in Nigeria to make 400k monthly.

Web Design and Funnel Building

10. Food Business

Who does not eat?

Absolutely nobody.

Food has been proven to give a high return of over 400k to those who venture into it. If you need business ideas in Nigeria to make 400k monthly. Then one of your surest plugs is selling food.

However, it is advisable to find a good location, but do not sell on credit. Note that you can decide to open a restaurant or make it a mobile food for people on the go.

Food Business

9. Shawarma Joint

Yes, Shawarma in a busy area such as the university area, clubbing arena, and so on will give you 400k monthly. 

It is a popular street food throughout Nigeria. Hence, you will never regret venturing into it. This business is not just lucrative but will give you 400k monthly if not more.

However, make sure you are an expert in preparing it as it will bring you more customers.

Shawarma Joint

8. Bakery Business

Chai, Nigerians De eat bread. Yes, we love bread honestly so starting this business will make you a profit far more than 400k in a month.

You can either go into the production of bread or better still you can be a supplier just collect from the bakery and sell that strategic point.

Just watch and make your hundred thousand profit in a month. I know of someone who makes over 500k as profit in a month just by selling bread alone.

Bakery Business

7. Real Estate

Real Estate is a hot deal. It is referred to as land and anything that is built on it including the natural resources around it.  Real Estate is one of the most lucrative business ideas in Nigeria to make 400k monthly.

Real Estate can earn you both active and passive income. To go into real estate, get land from a trusted person, and sell it after some time. If you like you can build houses on the land and rent it out to people.

Besides, you can partner with those already in the business if you do not have the strength to do the runaround for the business.

Real Estate

6. Clothes and Designers Business

Clothes are essential because it is an item to cover the body. So everyone must put on clothes. Consequently, when you go into this business be sure to make 400k easily monthly.

You may not necessarily own a shop because you can sell on the go by visiting different offices like banks, ministries, schools, and so on.

However, it will be great if you target plus-size people. Also, make the clothes low-priced and easy to wear. 

Clothes and Designers Business

5. Selling of Arabian Tea

The Arabian tea is a popular variety of tea in the Arab world. The tea is known for its numerous health benefits. Some of the benefits of drinking Arabian tea are; 

  • Help to manage inflammation.
  • Aids digestion.
  • Improve brain function.
  • Helps relieve the feeling of nausea.
  • Lower the risk of cancer.
  • Also, it helps to eradicate tummy fat. That is, it increases fat burning.
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Ultimately, people who are into the business are really cashing out big. Thus, it is one of the business ideas in Nigeria to make 400k monthly.

Selling of Arabian Tea

4. Renting of Wedding Dresses, Event Planning and Decoration

Yes, the country is hard. However, that does not stop celebrations all over the nation from wedding parties to naming ceremonies to birthday parties and burials and so on. Hence, an event planner is needed. However, you must have the required instruments on the ground.

Renting of Wedding Dresses, Event Planning and Decoration

3. Build a Mobile App

A mobile application or app is a computer program or software application that is designed to run on a mobile device.

This mobile device may be a phone, tablet, or watch. Being a mobile app builder will fetch you a whole lot of money. 

However, make sure you solve people’s problems with the app, you will see thousands of people downloading your app. Also, you can build apps for companies. This business is one of the most profitable business ideas in Nigeria you can start now.

Build a Mobile App

2. Transportation and Logistics

The transportation business is not just lucrative but one of the highly profitable business ideas in Nigeria you can start with or without capital. You can be an Uber driver or driver in other companies that offer driving services.

Better still you can buy a bus and drive it yourself for commercial purposes. Or hire a driver. Ultimately, you can partner with reliable persons who are in the business already. Do this and make 400k monthly or more.

Transportation and Logistics

1. Charcoal Business

Charcoal is a real deal. There is no way a day will pass that people will not buy charcoal for cooking, pressing cloth, grilling, and so on. So you can sell to retailers.

But if you want money in millions monthly just go into the production of charcoal by burning wood.

Note that you do not need to do it yourself as there are experts that deal with burning the wood. However, it will be good if you are there to monitor it.

Charcoal Business

Other Business Ideas for 2024


Conclusion 

With this blog post, I am pretty sure that the year 2024 will be great for you because these 20 business ideas in Nigeria to make 400k monthly will make you that amount if not more.

However, I will advise you to market any of the chosen businesses both online and offline to get your desired result.

Even if you have never ventured into business before, you can learn to sell if you pick enough interest. That is, you can thrive in entrepreneurship if you decide to learn. Before we go, Choima has a great friend named Nelly Agbogu who is another business professor! that’s a story for another day.

Now go and start any of the businesses listed above and smile whenever you see your account balance. 

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