Are you looking for fast growing business that brings daily income in Nigeria? Here are business that moves fast in Nigeria this 2024.
After getting a capital to start a business the next question is always what kind of profitable business can I start in Nigeria that will enable me to make more money?
The fact Is, not all business are profitable and not all business started with big capital is capable of given you high return, there are so many business that moves fast in Nigeria that even with small capital you will be sure of high return on investment.
Discovering the type of business to invest your money into is another problem as most business boom better in some areas than others, for instant POS business moves faster in rural area or semi urban area than Urban area where there are different banks.
And setting up a business in a wrong location can affect your income negatively, as you will be earning low and even be losing your capital because of lack of customers, that is why knowing best location to start your business is very important.
Imagine someone that set up a car wash business in a rural area where the population of car owner is very low, and most of the car owners will even prefer to wash their car by them self, while some will not even dream of ever wash their car because of the nature of the job they use it for.
All this contributed to my reason for coming up with ideas of showing you the fastest moving businesses in Nigeria and most of them can be started with small capital while others required huge capital to set up.
List Of Business That Moves Fast In Nigeria:
I have make deep research about these businesses and the best location to set them up, and the technical ways to make extra money from those profitable businesses easily.
Trust me, an going to make it interesting by show you the relevant business that moves fast in Nigeria, you do not need to rub a bank before you can start those business, there are strategic ways to invest into business even with small capital and it will boom.
I will advice you to read in-between the line because am going to be dropping Dangote and Otedola business strategies that many does not know, but worth knowing, Let go.
1. Filling station business
The first fastest growing business in our list is filling station business, it is one of the most lucrative business that moves fast in Nigeria, starting a big filling station may require huge capital but you may decide to start small.
Due to lack of constant electricity supply in Nigeria, many people now own generator that they can be using each time there is power failure.
But you can’t just jump into the business because it requires you to follow some procedure such as; getting capital for the business, looking for a good location that is not close to people’s home, hiring of expert engineers and registering the business name to make it legal.
As someone that want to start small, you may need like one or two plots of land that is close to main road, hire staffs that will be working for you and when you make more profits you may decide to reinvest it.
But, you will earn more income from this business if you start it with big capital as it will cost you up to N50,000,000 to start big filling station in Nigeria.
2. Transportation business
The most popular transformation companies in Nigeria today is Uber and bolt, those companies have helped many car owners to earn more money in Nigeria as you can easily register your car with them and start making money. You may be driving the car by your self or hire a professional driver.
It is no longer a news that transportation business is one of the profitable business that moves fast in Nigeria most especially in a more populated location like lagos, Ibadan etc.
You may even decide to buy a bus and start running inter state to be able to make more income, most especially during December and January period that people will be traveling to different state to visit their family and friends.
Did you know how much you will be making each day running from Abakaliki to Enugu or purchase a mini bus or keke and be using it for transport business within campus.
3. Betting shop
The way guys are always trooping in and out of betting shop is getting high everyday as the news on how others became millionaire through betting are been announced, people are becoming more motivate to bet.
You may decide to start this fast booming business in Nigeria since there is high demand for it and it is very cheap to start, you may register with either BETNAIJA or BETKING, rent a shop place Betting banner in front of the shop and watch as guys will be patronizing you everyday, most especially during football season.
Many individuals are ready to bet with their last card, with the aim to win higher money, all these contributed to what makes this business one of the best business that moves fast in Nigeria.
4. Barbing Salon business
This is a business that I have been running for more than five years now, I have seen the in and out of it, but it requires a skill for you to start running the business.
Barbing skill is one of the high demand skills in Nigeria because many salons are looking for workers, as far as you have this skill you are already self employed because even if you do not own a salon you can be working In other salon while you keep getting paid either weekly or daily.
In my previous article I have written a comprehensive guide on how to start a barbing salon business in Nigeria, the cost and the best location to open the business.
Not only that it is one of the daily income business that moves fast in Nigeria currently. Men are having their haircut almost every two days, if you can look for a business location and rent a shop you will make a lot of profits from this business.
Read: Barbing Salon Business Plan In Nigeria
5. POS business
Point of sales business is another booming business in Nigeria that you need to consider.
How does it work?
You will just register as a POS agent of any bank of your choice, they will offer you POS machine some are paid while some are not.
A fintech companyy like Opay offer their agents free POS machine. Once you have gotten the POS machine look for a good location that is not close to bank and start helping people to perform financial transaction and be getting paid for each transaction that you helped a customer to perform.
As I have said early, this business boom in a rural area or semi urban area where Bank is far away from.
Even if you have other business that you are doing which involves buying and selling you may add this business to it to enable you make more income.
I can’t even remember the last time that I went to bank either to withdraw of deposit money because I will not like to go and stand on a long queue in the bank.
If you are thinking of starting this business, I will advice you think more about security of your business location.
SEE: Top 5 Best POS Machine In Nigeria
6. Cocoa business
Another business that moves fast in Nigeria is cocoa farming business, it is true that cocoa farming sometimes take time before it will start yielding profits but the fact is that it is very profitable because of the high demand of it products.
Cocoa beans can be used for many purposes such as; ingredients for chocolate, and some other beverages, this business has helped in growing Nigeria economy and Nigeria remain one of the best cocoa producing country in Africa.
To start this business you may either buy land in the farm and plant the cocoa or rent the ones that have grown already.
If you rent the one that have grown already that means you need to be paying the owner yearly, as you will keep harvesting the farm product.
7. Real Estate
Real Estate is a very profitable business that gives high profit in return, purchasing of landed property is a very good investment that is capable of turning you into a millionaire.
This business involves buying and selling of landed property, you may even buy a house and be renting it out to people and you may decide to reselling the house if you wish.
Let check for instance that someone purchased a land in semi urban area 20 years ago by now to resell the land will cost times 5 of the amount that you bought it.
Real estate business is very lucrative in Nigeria but it involves huge capital to start it.
8. Cassava farming
This list will not be complete if we fail to mention cassava farming business in Nigeria, this business is not only profitable business that moves fast in Nigeria but one of the most popular business in Nigeria.
Tell me a state that does not have cassava farm and I will show you a state full of hunger.
The farmers are really making much money from this business because cassava is been used for many purposes such as; Cassava flour, Abacha (Africa salad) and Garri.
Garri is the most popular food that people usually eat in Nigeria and drinking of garri is more common among students.
If you can start this business you will be earning huge income since there is high demand for it.
9. Palm oil business
Palm oil is one of the most common food ingredients apart from using it for food preparation there are other things we usually use palm oil for that make it to be a fast growing business in Nigeria.
We use palm oil for production of drug, releasing of stomach pain, treatment of malaria and high blood pressure and much more, all this contributed to what makes palm oil business to be booming because of it high demand.
However; if you are not ready to take it as your regular business you may decide to buy and store when the price is very cheap and when it goes high you may take it to market and sell and make your gain.
This business is very profitable but only few individuals can notice it, check this; last year one bottle of palm oil was N800 and this year it is already N1500 for the same bottle, calculate how much someone that stored it when it was N800 will make.
10. Bookshop
If you are my kind of person that like reading stories and other interesting research books, you may decide to open a bookshop that you will stock with different kinds of books.
This business mostly boom faster in urban area or student location since your target audience are students and educated people.
Bookshop business is very easy to start but the most important thing is the location, if you open it in a village where the people are not much interest in buying books you will end up loosing.
People are making serious money from this business not only that it is one of the cheapest business that moves fast in Nigeria.
11. Sales of jewelries
Jewelry business is not a common business that you can just rush into rather it require a lot of business plan before starting; you must be able to differentiate between gold and silver jewelry.
You can start this business with as low as 500k and you will be sure of making enough gain in return. People will always buy wedding rings, wrist watch and necklaces either for their person use or for their loved ones.
Jewelries are decorated ornament which also include; earrings, pendants, bracelets, brooches and rings. They are usually made from shells, gemstones, precious metals, gold, diamonds, and silver.
But the most sought after jewelries are those made from; gold, diamond and silver. Once you know all these starting a jewelry business will be more easier for you.
I do not need to start telling you how lucrative it is, because there are some jewelries that worth more than N20 million naira and people are buying it everyday.
To make much income from this business you need to look for a good location that is suitable for it, this business is common mostly in popular cities like lagos state and Ibadan.
12. Hotel business
Another business that moves fast in Nigeria is hotel business, there is no state in Nigeria that you will go and you will not see more than ten hotels, people are still building more.
Hotel are been use for different events like; wedding, birthday, meeting etc even most people that are far away from their home can even pay to sleep in a hotel.
If you can build a hotel in a very secured location you will see how people will be booking both halls and rooms in your hotel everyday while you keep making your money.
13. Tutorial Business
You can open a tutorial centre where you will be teaching students some subjects that they are finding difficult and get paid either daily or weekly.
However, it is also one of the best online business in Nigeria that any teacher can start. You can easily earn more money online with less stress as a tutor by just registring on platform like tutorme.com on this website you will be earning $16 per hour to share your knowledge with others.
14. Scrab business
This is an untapped business that moves fast in Nigeria and it does not require much capital to get started, all you just need is a capital that you will be using to purchase some waste metals.
Many individuals that are doing this business know how much they are making from this hot business idea, you may decide to rent a shop and start going round or look for workers that will be going street by streets and be buying the scrab for you.
You can start this lucrative business with 50k or more and you will be sure of making huge gain.
People due look down on this hot business, but trust me the money in it is like oil money, people that are packing it are few, why haven’t you join?
15. Cooking gas business
People now developed more interest in using gas than any other cooking gadget like stove, because of the ways it usually make food to done faster due to it hotness.
You may decide to opened small gas station in your area where you be helping people to refill their gas instead of them going far away just to get their gas filled.
To open small gas station does not cost much but it is very advisable for you not to open it near people’s home; this has cause the reason why many gas stations was closed down in Lagos and Ebonyi state some years ago.
16. Mini importation
Mini importation involves you buying goods from over seas at cheap price and ship it down to Nigeria to sell at moderate rate and make your gain. You can start this business with as low as N50,000.
It is one of the fast moving business in Lagos and some other area that are not land lucked in Nigeria, you may be purchasing the goods from country like; China through some online agent and they will ship it down for you.
17. Poultry farming
There are a lot of opportunities in poultry farming such as; selling of eggs, poultry feeds, chicks etc. You may consider opening small poultry farm near your home purchase some chicks at a very cheap price and start feeding them until they grow.
When most of the poultry beds grow most of them may be laying eggs while other are just for meet; you will see as people that are in need of it will be coming from different angles, including people from restaurants, chicken republic and more.
As a poultry farmer; you can also be selling poultry feeds and eggs too to make extra income. I have written poultry farming business plan in my previous post for those that want to start this emerging business in Nigeria.
Read; Poultry Farming business plan In Nigeria
18. Day care center
This hot business idea is for individuals that like taking care of kids, most especially ladies. If you are a type so much care for children you may rent a center in a secure location place your sign post in front of it.
Advertise your business to reach more parents, you will see how they will be rushing with their kids to your daycare center just to get them registered.
Make sure you have a clean and secure environment because that is what will attract more parent to register their kids.
There are many of them in Nigeria like babyvillecentre.org that is located in lagos Nigeria.
Related: List Of 15 Business Ideas For Ladies In Nigeria
19. Supply of drinks
I have seen many people that have become millionaire through this business because of how is booming, you may start buying drinks like coca cola, Hero, star and malt in full load of trailer or half of it and start supplying to people like; bar.
This is one of the most lucrative supply business that moves fast in Nigeria, the amount of gain you want to make will determine the amount of capital you will use in purchasing the drinks.
The major thing you need is to look for workers that will be helping you to supply the drinks to different locations, and a very secure place that you will be parking your drinks.
20. Bottle/sachet water production
The most preferred water in Nigeria today is water packaged inside bottle or sachet, people see it as the most clean water that is why they call the one inside nylon “pure water”.
This products are high in demand in Nigeria but it requires huge capital to set up; you will need to by machine for the production, nylon and bottle for packaging and you will need workers that will be handling the machine and those that will be supplying it too.
Because of it high demand that is why is growing faster than any other business in Nigeria.
21. Gift shop
You may open store where you will be selling different kinds of gift item like flowers, perfume and much more.
Sometimes we will feel like to surprise our loved ones this will motivate us to branch to gift store to purchase some gift items on our way.
22. Disc jockey
This is popularly know as DJ in Nigeria, they are those that play recorded songs, they mix different music together and play in a party.
They make us dance and forget food on fire, there are some DJs that can make you forget your problem if you go near where they are playing.
DJ are really making huge income, check some popular DJs like; DJ keywise, DJ combact, commissioner DJ wysei. They are big ladies and guys that are making money doing their DJ work.
If you also like DJ work you may go and learn it and start tapping from the opportunity.
23. Photo/video studio
This is another high demanding skills that you can start as a business in Nigeria, as people are always in need of photographer to snap them picture for their birthday, wedding and other different events.
People also need someone that can be able to cover their event with video recording, you need to learn how to edit both video and photo professionally so that people can keep contacting you for work.
This business does not require much capital to start, the major things that you need is camera and the editing skills.
24. Sales of electronics
This is another fastest growing business that moves fast in Nigeria today as people are always in need of electronics appliances, you may be importing from country like; China at cheap rate and be selling in Nigeria at moderate price and be making your home gain.
This is modern era where electricity is in everywhere, people will always need electronics appliances that they can be using at home, including; wire, sucket, burn and much more.
25. Honey business
This is the only things that you can store at home for months without getting spoilt. The taste of honey is too different that is why people like it.
And people can buy it and keep at home without it getting spoilt unlike other product. You may start purchasing it in large quantities and be selling to people that need it.
It is a very cheap business that is very easy to start in Nigeria.
25. Recharge card printing
The population of people that are making use of recharge card are much while the producers are few, even you that is reading this article recharged your phone with airtime before browsing.
Recharge card printing business is very profitable in Nigeria because of it high demand.
Read: Best Website For Printing Recharge Card Online In Nigeria
27. Sales of attachments and weavons
Almost all ladies does not like barbing their hair rather they prefer to plate it, using attachment or weapon. They are ready to spend any amount just to get the latest attachment or weavon for their hair.
You may consider starting this business since ladies are always in need of it, you will see how it will be booming, just check how much they are selling bone straight hair now, you will be shocked to see the amount ladies do spend just to have a nice hair.
28. Sales of building materials
This is another cheapest business that moves fast in Nigeria that you may need to consider, people are building houses everyday, you may start selling building materials since there are many buyers available already, you do not need any special skill before you start this business, you just need to know the names and prices of those materials.
29. Block industry
This is another lucrative business in Nigeria that need huge capital to set up, people are building their houses everyday and not all building construction engineers that will have time for molding of blocks before they can start their main work.
Many will prefer to buy block to make their work easier and faster. You just need to make your block quality as people will not like to buy quantity block that is not good for building.
You may just purchase the block molding machine and a land of up to one or two plots employ workers that will be working for you and start making your cool cash.
30. Fish farming
The way people are consuming fish this days is too much, in fact there are few fish farmers in Nigeria currently, there is much room for any one that want to invest into fish farming business.
Fish is one of the most consumes meat in Nigeria, and the cost of fish is getting higher everyday, starting this business may be one the best decision you may make this year.
Read: Fish Farming Business Plan
31. Restaurant and bar business
Restaurant business is a hot business that many millionaires has tried in the past that helped them to build wealth, people visits restaurant and bar everyday to eat and drink everyday.
And as human we are ready to spend our last card on food or drink that will make us feel happy, if you are good in food preparation most especially preparation of Isi ewu (goat head), kanda, pepper soup and more you will make a lot of money from this business.
People like eating those kind of food or meat while drinking. This business is not only lucrative in in Nigeria but also fast moving.
32. Boutique
Boutique business is another booming business in Nigeria that you need to consider starting, this business involves opening of small retail shop for selling of cloths/fabric and other goods and services related to the related market niche.
This business mostly move fast in Nigeria during festival session like; Christmas and new year. People are buying new cloths everyday most especially ladies.
You will really make a lot of profits running this business.
33. Laundry business
This is another business that moves fast in Nigeria currently as people are getting busier everyday, they do not usually have much chance to wash and iron their cloths.
You may start a laundry shop, so that you can be helping those that need your services to wash and iron their cloths and get paid.
You just need washing machine, iron and a table to start this business and it doesn’t cost much capital to set up.
34. Computer Center
Computer business center is the fastest growing business in the campus because students and teachers are always in need of their services.
Computer business center deals on; typing, browsing checking of students result, registration of Empowerment program and much more.
If you are a good computer operator you may consider starting this business as it will keep bringing reliable income to your wallet everyday it is among the most trending daily income business in Nigeria today.
35. Sales of cement
The most popular cement in Nigeria is Dangote and Ibeto cement, these cement are very good for construction and people that are building houses are always in need of cement.
You may start purchasing it in large quantities and be supplying to people that are in need of it, both in building construction site and block molding industries.
36. Cosmetics business
This business involves selling of some body care products like; face powder, body cream, toothpaste, hair cream, soap, hair spray, lipstick etc.
You may decide to start this business in either large scale or small scale all this depends on the amount of capital that you have at hand.
I mostly recommend this business to ladies looking for fast moving business in Nigeria ladies can start, that are lucrative and cheap to start.
37. Football viewing center
Football view business is now a very profitable business in Nigeria that is booming, as many football fans will never like to miss any day without watching their club as they are playing, most individuals that plays Bet also usually watch match to enable them gain more prediction experience.
Most would have booked game in either BetNaija or BetKing before moving to football viewing center to know who will win the match, and you can’t enter any football viewing center without paying, because they need to buy fuel and also feed their own family too.
To start this business you just need one or two plasma TV, generator and a large land space that you will be staying, noting more.
38. Super market
This is another lucrative business that moves fast in Nigeria you may decide to start this business in either large scale or small scale, depending on the amount of capital that you have at hand.
You can start a small supper market with at least N100,000 and you will be sure that you will be earning some profits.
In super market you may be selling different kinds of goods such as; bread, cake, cloths, shoes, books, etc.
39. Bakery
This business is majorly for people that know how to back something like; cake, meat pie. People are always in need of a good baker than can back their birthday and wedding cake for them, so deciding to start this business is a very good decision.
40. Sales of mobile phone/accessories
You may start selling different kinds of mobile phones and it accessories, since everyone always need latest phone you will be making much profits from this business if plan well.
41. Rental business
You may start this business as your side hustle business in Nigeria by purchasing some rentable things like; canopy, seats and big cooking pots and plates etc.
Start renting it out for people that need it and get paid for it, this is a very fast moving business that only few know how profitable it is.
42. Sales of computer/accessories
Another lucrative business in our list is sales of computer and it accessories this business is very lucrative since people are always in need of both new computer and it accessories.
You may just get small capital import the computers and it accessories and start selling.
43. Keke spare parts
The most used means of transportation within the state today in Nigeria is keke (tricycle), people enter keke because it doesn’t waste time to load passengers unlike bus.
This keke parts sometime get faulty and it will need new spare part to replace it, you may decide to start the spare parts business in a keke busy area, you will see how keke riders will be coming to purchase different kinds of spare parts everyday from you.
44. Sales of tailoring materials
This one of the cheapest business in Nigeria that is very easy to start, you may start buying tailoring materials from Lagos, ibadan or in Aba in a high quality and be reselling to tailors in your location.
I have covered everything you need to know about tailoring materials business in Nigeria in my previous article.
Read: How To Start Selling Tailoring Materials In Nigeria
45. Wine business
You may open a small wine shop where you will be selling different kinds of wines like; best and other foreign wines too.
People are buying wine everyday either for their personal use or for their friends.
46. Timber business
This is another fastest booming business in Nigeria that you may consider, people are always in need of timber such as; people building house, Carpenters etc.
You may start buying the timbers in high quality and be cutting into blanks and sell.
47. Pig farming
Pig farming is one of the fastest moving business in south east and south south where there are limited numbers of Muslims, pock meat is the most consumed meat after goat meat in Nigeria.
This business is very profitablele in Nigeria because of it high demand.
Read: How to Start Pig Farm Business In Nigeria
48. Rice farming
Rice is one of the most consumed food in Nigeria, it has make most state very popular In Nigeria such as;
Kebbi and Abakaliki but the fact is Kebbi state remain one of the state with the highest rice production in Northern Nigeria while in the East Ebonyi state remain the highest rice production state.
Rice has make state like Ebonyi to be popular as immediate you enter rice market you will start hearing Abakaliki rice.
You may start cultivating rice also to start making gain as rice usually take less than six months before it will be good for harvest and the cost of rice is going higher everyday.
49. Nursery school
Nursery school is the most important starting point of learning for kids, as their brain is always hot then. The fact is someone that does not attend a good nursery school may regret it in the future as what you learn at your early stage is your basic foundation.
You may decide to open a nursery school and employe qualified teachers to be teacher the kids, you will see how much you will be earning from this business.
You will be surprise to hear the amount I normally pay for my children school fee.
50. Food stuffs
The last business that moves fast in Nigeria that we are going to talk about is food stuffs business, we goto market everyday to buy foodstuffs that we can use to cook at home, a market like Ishieke market in Ebonyi state is always full in the evening because of people that usually cluster everywhere buying and selling foodstuffs.
You may look for a good location in your area or a foodstuffs market buy some foods stuffs in whole sale and start reselling to the final consumers.
This business is booming due to the fact that every family eat everyday and we need to buy foodstuffs to enable us cook.
Conclusion
I strongly believe that I have been able to answered your question by showing you the business that moves fast in Nigeria and things you need to know about those businesses.
Having enough capital to start a business is not the major thing that makes a business to boom, your location and your target audience should be your focus.
I wish you the best in your business journey.
