If you have about ₦100,000 or less, you can start a business in Nigeria today. The key is picking one of the cheapest businesses to start in Nigeria that fits your skills and market.
In this article you will find ten business ideas that are cheap to begin, easy to scale, and suitable for Nigeria’s market. Each idea uses a budget under about ₦100,000 and shows how you can make it work.
Why Focus on the Cheapest Businesses to Start in Nigeria
Starting small has many advantages:
- Low risk: you don’t lose much if things go slow.
- You learn on the job, grow slowly and steadily.
- Many Nigerians need affordable services or products, so your market is ready.
- With a small capital you can stay lean and adapt fast.
By choosing from the cheapest businesses to start in Nigeria, you make work manageable and build a business that can grow over time.
What You Must Check Before Starting
Before you pick one of these business ideas, check these five things:
- Budget – Can you start within ₦100,000?
- Demand – Do people around you need this product or service?
- Skill or interest – Can you do it, or learn it quickly?
- Location or channel – Will you sell physically, online, or both?
- Profit margin & speed – Will you earn within weeks or months?
Once you have these covered, you can pick one of the ideas below and start.
1. Liquid Soap or Detergent Production
One of the cheapest businesses to start in Nigeria is making liquid soap, detergent, or cleaning products. According to sources, you can begin with around ₦30,000 to ₦50,000.
Why it works
- Cleaning products are always needed by homes, salons, restaurants.
- Low startup cost and small space needed.
- You can supply schools, offices, local shops.
What you’ll need
- Ingredients (chemicals, fragrance, bottles)
- Basic space (your home kitchen or small room)
- Packaging and branding (simple labels)
- Marketing via WhatsApp, Instagram, local shops
Give attention to hygiene, packaging and brand name. That turns a low-cost idea into a proper business.
2. Thrift Clothing (Okrika) Resale
Another of the cheapest businesses to start in Nigeria is resale of thrift or “okra” clothing. With about ₦50,000 to ₦100,000 you can begin.
Why it works
- Many Nigerians want affordable fashion.
- You can sell online, via Instagram, WhatsApp, local market.
- High turnover: you buy a bale, sell items fast.
What you’ll need
- Build connection with reliable supplier of thrift goods.
- Clean and sort the clothes, present them well.
- Use social media posts, reels showing the clothes.
- Offer bundle deals to attract buyers.
This is simple to start and scalable.
3. Mobile Phone Accessories / Gadgets Business
Selling phone accessories like chargers, earphones, phone cases is another idea among the cheapest businesses to start in Nigeria.
Why it works
- Almost everyone has a smartphone; accessories are needed every day.
- Low stock cost; high margin possible.
- You can sell online or set up a small stall.
What you’ll need
- Stock of accessories from wholesalers (Lagos markets or online).
- Good photos, social media page or stall.
- Basic branding or catalogue.
- Quick service to get good reviews.
With about ₦70,000-₦100,000 you can fully begin.
4. Food Business: Snacks, Mini-Catering
One of the cheapest businesses to start in Nigeria involves cooking or snacks. Starting with under ₦100,000 is possible.
Why it works
- People are always eating; demand is constant.
- Low startup cost if you begin small from home.
- You can serve students, office workers, events.
What you’ll need
- Basic cooking space, ingredients, packaging.
- Define your snack or food item. Example: puff-puff, plantain chips, meat pies.
- Use social media, WhatsApp to get orders.
- Offer delivery or pickup.
Focus on taste, reliability and clean packaging.
5. POS / Agent Banking Business
Starting a POS or mini-banking agent business is also among the cheapest businesses to start in Nigeria under ₦100,000.
Why it works
- Many areas lack full bank access; people need cash, transfers, bill payments.
- Steady commissions per transaction.
- Low overhead if you start small.
What you’ll need
- POS terminal or fintech partnership (some require deposit)
- Good location or network
- Marketing to let people know you exist
- Reliability and good customer service
When people trust you, they will use your service often.
6. Social Media Management / Graphic Design Services
Services business are among the cheapest businesses to start in Nigeria because you use skill instead of big inventory.
Why it works
- Many small businesses need help online but lack resources.
- You can start from home with your phone or laptop.
- Low cost; high value service.
What you’ll need
- Learn basic graphic design or social media skills (free videos online).
- Build a portfolio: show sample work.
- Offer packages: design posts, schedule content, reply comments for clients.
- Use LinkedIn, Instagram to advertise services.
You can begin with less than ₦50,000 often.
7. Mini Importation / Reselling Trendy Items
One of the cheapest businesses to start in Nigeria under ₦100,000 is importing small trending items and reselling them.
Why it works
- Unique or hard-to-find items attract buyers.
- High profit margin when you pick right product.
- You can sell online using existing platforms.
What you’ll need
- Research trending items (gadgets, fashion accessories, beauty tools).
- Order small batch to test market.
- Use social media or WhatsApp for sales.
- Reinvest profits to order more.
Start with about ₦60,000-₦100,000 and scale gradually.
8. Laundry / Ironing Service
Starting a laundry or ironing service is also among the cheapest businesses to start in Nigeria under the budget.
Why it works
- Busy professionals, students, and executives often outsource laundry.
- Low equipment cost (iron, detergent, basin) if you begin home-based.
- Can give delivery service to charge more.
What you’ll need
- Start with home or small room.
- Basic equipment: buckets, iron, detergent, ironing board.
- Market to neighbours, estates, students.
- Offer good service to build referrals.
With consistency, you grow to full laundry business.
9. Mini Grocery / Retail of Fast-Moving Goods
A mini shop selling items people buy daily qualifies as one of the cheapest businesses to start in Nigeria under about ₦100,000.
Why it works
- Everyday necessity: food, drinks, snacks, toiletries.
- Low entry cost when starting small.
- You can start from home and deliver locally.
What you’ll need
- Small location or home space.
- Stock of fast-moving goods.
- Good understanding of sales margin.
- Good customer relationship, privacy trust.
Focus on items people need daily and rediscover profit quickly.
10. Handmade Crafts, Beads, Jewelry or Gift Boxes
Finally, crafting or making gift items is among the cheapest businesses to start in Nigeria under ₦100,000.
Why it works
- Unique handmade items stand out.
- Low material cost; high margin possible.
- Online sale is viable: Instagram, WhatsApp, markets.
What you’ll need
- Materials (beads, wires, gift boxes, wrapping).
- Your creativity and design skills.
- Good photos and social media page.
- Offer customization for better prices.
You start small and grow through word of mouth and referrals.
How to Make Your Budget Work
To ensure you succeed with one of the cheapest businesses to start in Nigeria, follow these tips:
- Keep your budget very tight; avoid luxury expenses early.
- Use your phone and free social media for marketing.
- Reinvest your profits into growing stock or services.
- Test before scaling: buy small, see what sells, then buy more.
- Track cash flow: know what costs, what sells, what profit.
- Provide excellent customer service: this drives repeat business which is cheaper than finding new customers.
Common Mistakes to Avoid
When you pick one of the cheapest businesses to start in Nigeria, avoid these mistakes:
- Overspending on branding or shop before you have sales.
- Buying too much stock without testing market demand.
- Neglecting quality and customer service.
- Ignoring marketing or social media presence.
- Thinking overnight success will happen. Real growth takes patience.
By avoiding these, you keep your business healthy and growing.
Conclusion
There are so many cheapest businesses to start in Nigeria under 100k that are ready for you. The key is choosing one your skills match, understanding the market, starting lean, and investing your time. Whether it’s soap production, thrift resale, mobile accessories, or social media service, you can make it work if you are consistent.
Pick your idea now, budget carefully, market smartly, and build. Your small start can grow into something big.
