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10 Profitable Businesses to Start with ₦20,000 in Nigeria 2023

Starting a business doesn’t always require a hefty investment.

In Nigeria’s dynamic entrepreneurial landscape of 2023, it’s entirely feasible to kick-start your own venture with just ₦20,000. Yes, you read that right

This article explores the potential of launching a business with a modest capital and presents ten lucrative business ideas to consider in Nigeria.

Is it Possible to Start a Business with ₦20,000 in Nigeria 2023?

With the right approach and a dash of creativity, starting a business with ₦20,000 is not only possible but also practical in Nigeria in 2023.

Thanks to the country’s vibrant markets and diverse consumer needs, several business opportunities await those who are willing to take the plunge.

10 Profitable Businesses to Start with ₦20,000 in Nigeria 2023

1. Native Cloth Selling

Tap into Nigeria’s rich cultural heritage by selling traditional clothing. Source affordable fabrics, collaborate with local tailors, and market your unique designs.

2. Selling Second Hand Products

Thrift shopping is gaining popularity. Curate a collection of quality second-hand items and market them through online platforms or physical stalls.

3. Pop Corn Business

Set up a pop corn stall at high-traffic locations. With minimal equipment and ingredients, you can create an enticing snack that appeals to all age groups.

4. Selling Men’s Underwear

Target an underserved market by selling men’s underwear. Focus on quality, variety, and affordability to attract customers.

5. Making Refreshing Drinks

Create and sell refreshing beverages like homemade fruit juices, smoothies, or iced teas. Leverage local fruits for a unique selling proposition.

6. Perfume Oil Business

Perfume oils are in demand. Craft your signature scents and package them attractively. A small investment can lead to significant returns.

7. Okrika Business

Capitalize on the second-hand clothing market by selling imported used clothes. Carefully select fashionable items and sell them at affordable prices.

8. Recharge Card Business

Despite the digital age, recharge cards remain essential. Partner with telecom providers and sell recharge cards at strategic locations.

9. DATA Reselling

Internet access is crucial. Resell data bundles at competitive rates. Leverage social media to reach potential customers effectively.

10. Blogging/YouTube

Use your ₦20,000 to create engaging content. Start a blog or YouTube channel focusing on a niche you’re passionate about. With dedication, your audience can grow, leading to potential revenue streams.


In conclusion, the notion that starting a business requires a massive investment is debunked by the plethora of opportunities available in Nigeria’s entrepreneurial landscape in 2023.

These ten business ideas exemplify the potential of turning ₦20,000 into a profitable venture. With careful planning, dedication, and a customer-centric approach, you can lay the foundation for a successful business journey.

the key is not just the investment amount, but your commitment and innovative strategies that will determine your business’s success. So, why wait? Embark on your entrepreneurial journey today!

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