Starting a business in Nigeria today doesn’t always require millions of naira. With the right mindset, skills, and discipline, ₦200,000 can be enough to launch something sustainable. I’ve seen firsthand how small startups grow from modest beginnings into thriving ventures, so I’m sharing 10 realistic businesses you can start in Nigeria with ₦200,000 or less.
1. POS (Point of Sale) Business
If you’ve walked around any street in Nigeria lately, you’ll notice POS agents almost everywhere. That’s because Nigerians rely heavily on POS services for quick cash withdrawals, deposits, and transfers. Long bank queues, poor internet banking systems, and frequent network issues have made POS businesses a lifesaver for many people. Instead of wasting hours at the bank, most Nigerians would rather pay a small convenience fee to a nearby POS agent.
The truth is, this business has become one of the fastest-growing ventures in Nigeria because it solves a real problem. From students and workers to market women and business owners, the demand is constant. The good part is that you don’t need millions to get started.
Startup Cost Breakdown:
- POS machine: ₦20,000–₦50,000 depending on the provider (banks and fintech companies offer different options).
- Shop/kiosk: ₦50,000–₦100,000 depending on location. Some people even start with just an umbrella and a chair in front of a busy street.
- Signage: ₦5,000–₦10,000 for a simple banner to attract customers.
- Float cash: ₦50,000–₦100,000 to start handling withdrawals and deposits smoothly.
Why It Works:
The beauty of the POS business is the daily cash flow. Transactions happen every single day, and your earnings come from the commission charged on each service. If you position yourself in a busy area — like near markets, bus stops, or residential estates — you can start making profits almost immediately. I know someone who started with just ₦150,000, and in less than three months, he was averaging ₦3,000–₦5,000 daily in profit.
Another advantage is that it doesn’t require special technical skills. With honesty, good customer service, and reliable cash availability, you can build a loyal customer base quickly. As your business grows, you can expand by hiring an extra staff or setting up multiple kiosks in different locations.
The POS business is one of the most practical and profitable ventures you can start with ₦200,000 in Nigeria today. It’s simple, scalable, and provides a service people genuinely need every day.
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2. Foodstuff & Provisions Business
When it comes to businesses that never go out of demand in Nigeria, foodstuff tops the list. No matter how tough the economy gets, people must eat every single day. That’s why the foodstuff business remains one of the most reliable ways to invest your ₦200,000. It’s a business that gives you daily sales, quick turnover, and steady growth if managed properly.
I personally know someone who started a small foodstuff shop with just ₦180,000. At first, she only stocked basic items like rice, beans, garri, vegetable oil, and noodles. Her shop was small — just a wooden shed close to a busy street. But because she focused on items people buy daily, her stock moved fast. Within months, she reinvested her profits and expanded into bulk supplies. Today, she supplies local restaurants and even caters to small events.
What to Sell:
The good thing about this business is flexibility — you can start with whatever fits your budget. Some of the fast-moving items include:
- Rice (small and medium bags)
- Beans
- Garri
- Yam
- Palm oil and groundnut oil
- Noodles and pasta
- Seasonings (Maggi, salt, curry, thyme)
- Beverages (milk, sugar, Milo, Peak)
Startup Tips:
- Start Small: Don’t try to stock everything at once. Begin with the items that sell fastest in your area.
- Know Your Market: What sells in a student area might differ from what sells in a family neighborhood. Observe your customers’ buying patterns.
- Location Matters: A foodstuff shop near a residential area, student hostel, or motor park will always attract steady traffic.
- Reinvest Profits: The real growth in this business comes from rolling your profits back into buying more stock.
Why I think this Works:
Foodstuff is a “daily bread” business — literally. With ₦200,000, you may not open a massive supermarket, but you can set up a small provisions shop that grows steadily. Profit margins on food items may seem small (5%–15% on average), but because turnover is fast, your money keeps coming back quickly. Over time, you can branch into wholesale, bulk supplies, or even delivery services to offices and restaurants.
In summary, the foodstuff business is one of the safest and most consistent ventures you can start with ₦200,000 in Nigeria. People can delay buying clothes or phones, but nobody delays buying food. As long as you manage it well, you’ll never lack customers.
3. Phone Accessories Business
Walk through any Nigerian market or bus stop, and you’ll see people selling phone accessories — and for good reason. Smartphones have become a necessity in Nigeria. From students to business owners, almost everyone uses a phone daily, and with that comes the demand for chargers, earpieces, cases, power banks, memory cards, and Bluetooth speakers. The market is huge because phones get faulty, accessories get lost, and people always want something new.
I remember when a friend of mine started this business in a small corner shop with about ₦150,000. At first, he focused on fast-moving items like phone chargers, earpieces, and screen guards. These were cheap but in high demand. Over time, as profits grew, he expanded into more expensive products like power banks, wireless earbuds, and smartwatches. Within six months, his shop became the go-to place in his neighborhood for phone accessories.
Startup Cost Breakdown:
- Shop space or small stand: ₦50,000–₦100,000 depending on location. If you can’t afford a shop yet, you can start with a table and umbrella in a busy market or near a bus stop.
- Stock: ₦100,000–₦120,000 to get a mix of fast-moving products like chargers, earpieces, power banks, screen guards, phone cases, and memory cards.
Why It Works:
- High Demand: Phones are everywhere, and accessories are consumables — people need to replace them often.
- Good Profit Margins: Accessories often have 20–40% markup, which makes it a steady cash business. For example, a charger you buy for ₦800 can be sold for ₦1,200–₦1,500 depending on location.
- Flexibility: You don’t need a large shop to start. Even with a table at a strategic spot (like near a university or bus park), you can make daily sales.
- Scalability: Once you establish yourself, you can grow into selling smartphones, repairs, or even becoming a distributor for certain brands.
Tips for Success:
- Focus on fast-moving, affordable products at the beginning.
- Stay updated on trends — wireless earbuds and Bluetooth speakers are hot sellers right now.
- Combine the business with phone repairs if you have the skill (or partner with someone who does) to increase traffic and profit.
- Offer variety. Customers like having options in color, design, and price.
4. Laundry & Dry Cleaning Service
Not everyone has the time or patience to wash clothes, especially in busy cities. I once helped a friend set up a small laundry service with under ₦200k.
- What You Need: Washing machine (₦80k–₦100k for fairly used), pressing irons, buckets, detergents, hangers, and packaging bags.
- Bonus: If you can offer home pickup and delivery, you’ll stand out.
5. Small Chops & Catering
Nigerians love small chops at events — samosa, puff-puff, spring rolls, and chicken kebabs. With ₦200k, you can start small and grow.
- What You Need: Basic utensils, fryer, ingredients, branded packaging, and maybe a banner for visibility.
- Growth Path: Start with home orders, then move into events.
6. Barbing Salon
With ₦200k, you can set up a small but neat barbing salon. A good haircut is always in demand.
- What You Need: Clippers (₦15k–₦25k each), generator (₦60k+), mirrors, chairs, sterilizers, and rent for a small shop.
- Tip: Customer service is everything. Add extras like free WiFi or phone charging to attract loyal clients.
7. Poultry Farming (Small Scale)
If done properly, poultry farming can be very profitable. With ₦200k, you can start with layers (for eggs) or broilers (for meat).
- Startup Cost Breakdown: Small pen construction, chicks (₦700–₦1,200 each), feed, vaccines, and water supply.
- Why It Works: Demand for eggs and chicken meat never stops.
8. Recharge Card & Data Business
They say data is the new oil, and in Nigeria, that statement couldn’t be more true. With millions of people online daily — scrolling social media, streaming music and videos, or running online businesses — the demand for airtime and data is endless. Nigerians spend thousands of naira monthly just to stay connected, which makes the recharge card and data business one of the most consistent small ventures you can start with ₦200,000.
Unlike some businesses that depend on season or location, airtime and data sell every single day. Whether it’s a student buying ₦200 worth of data, a market woman topping up ₦100 airtime, or a business owner subscribing to ₦10,000 worth of internet, there’s always a customer ready to pay. I’ve personally seen people run this business both online and offline, and the steady flow of sales makes it one of the most underrated hustles out there.
What You Need:
- A reliable VTU (Virtual Top-Up) platform that allows you to buy and resell airtime and data for different networks (MTN, Airtel, Glo, 9mobile). Many fintech apps and portals now provide this service.
- A smartphone to manage transactions and orders.
- A small kiosk, stand, or even just online marketing through WhatsApp, Facebook, or Instagram. You don’t necessarily need a physical shop to start — some people build customer bases entirely online.
Startup Cost Breakdown:
- Registering on a VTU platform: Free or very low.
- Float cash (₦100,000–₦150,000) to fund your wallet for airtime/data purchases.
- Basic kiosk setup with umbrella, chair, and signage if you want to operate offline: ₦30,000–₦50,000.
Profit Margin & Why It Works:
Profit per transaction may seem small (₦5–₦50 on airtime top-up, ₦50–₦200 on data sales), but because the demand is high and daily, the profits add up quickly. For example, if you serve 50–100 people in a day, your profit margin can grow steadily to thousands weekly. The real money comes when you scale — by building a loyal customer base or even supplying to smaller resellers under you.
Tips for Success:
- Go Digital: Market your services on WhatsApp, Telegram, and Facebook. People love convenience, and if they can buy data from you with just a text, they’ll keep coming back.
- Customer Service: Be reliable and available. If your data top-ups are always instant, you’ll earn trust quickly.
- Expand Gradually: Start with airtime and data, then add services like electricity bill payment, cable TV subscription, or exam PIN sales (WAEC, JAMB). These extras increase profit.
9. Fashion & Tailoring
The Nigerian fashion industry is huge. With ₦200k, you can either learn tailoring and buy a sewing machine, or buy ready-made clothes to resell.
- Option A: Get a manual or electric sewing machine (₦70k–₦120k), fabrics, and rent space.
- Option B: Import thrift wear (okirika) or Ankara pieces in bulk and sell online.
10. Mini Importation Business
With ₦200k, you can import products like wristwatches, bags, accessories, or electronics from China (via sites like Alibaba or 1688) and resell in Nigeria.
- Why It Works: Nigerians love affordable, trendy products.
- Tip: Start with lightweight items (cheaper shipping) and sell through Instagram, WhatsApp, or Jumia.
Final Thoughts
Starting a business in Nigeria with ₦200,000 is very possible. What matters is choosing something you understand, starting lean, and reinvesting your profits. I’ve learned from experience that consistency, customer service, and wise reinvestment are the real secrets of growth.
Don’t wait until you have millions — start where you are, with what you have, and watch your hustle grow.
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