10+ Hot Untapped Lucrative Business Ideas In Nigeria -Lucrative business ideas with low start up capital

With the steady surge in the rate of unemployment in Nigeria, as more graduates are rolled out yearly and workers are being equally relieved of their little means of livelihood in a bid for the institutions to keep a number of employees they can pay at ease, self employment has become an option -second to none- to make little cash (depending on the venture) and meet necessary needs.

There are lots of business ideas, opportunities/ventures that Nigerians can dive into and make a living from solely as self employed individuals or as alternative source of income even while they are on paid employments.

Youths are, more than ever, interested in "big-named" jobs with lucrative pays that they don't see the opportunities lying untapped in other ventures.

We've compiled a list of 10 untapped lucrative business ideas, opportunities and ventures in Nigeria for Nigerians to start up even with low capital. Let's get to it!

10• Online Tutoring

One could offer tutorials on different subjects over the internet and get paid for the service. YouTube and some other streaming platforms has made it easier to own a channel where you can do this and earn from it. Helping with assignments, projects and other basic methods of impacting knowledge is not left out of this. It's one lucrative business that you can venture into with little capital for data to keep you running your services online.

9• Freelance Writing

In today's world where blogs and websites are increasing daily in number, the services of freelance writers are also going high in number. Most blogs employ the services of creative content creators and companies hire writers to communicate their strides via their publications, bulletins and blogs to the public. All you need to get started is a great writing skill and a smart phone or a PC. Connect with multi author blogs that pays for the service and deliver quality contents or check out freelance jobs on Fiverr and Efiko.

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8• Phone Sales and Repairs

One can start up a phone sales oulet with low capital and increase your inventory as you turn in income. This business idea, doubled with the services of phone repairs, will fetch cash to serve as a cool means of livelihood. All you need to get started is skill in phone repairs and capital to start up. 

7• Packaged Water Production

Packaged water, sachet water and bottle water, has a high consumption rate in Nigeria especially in the urban and suburban areas. This business venture requires low capital to get started and can fetch millions for those who go into it. You'll need a source of treated water, capital to purchase materials like sachets and bottles. It's one great business idea people shy away from.

6• Social Media Marketing

Organizations, Companies and startups employ the use of social media platforms like Facebook, Twitter, LinkedIn, Pinterest, Instagram etc to reach out to their target market. Social media marketers are experts that help these organizations in achieving this feat by bringing the products/services they have to offer and making it appealing to social media users. It has become a very lucrative business opportunity in Nigeria and not so many know about this. To get started, take social media marketing courses from reputable institutions so as to be familiar with the techniques and strategies to use while at it.

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5• Event Planning and Decorations

Nigerians are party lovers and also love a properly planned event with everything well catered for -ranging from food to ushering to decorations to control of crowd and movement. Event planners and interior decorators know how lucrative this business idea is and one interesting fact is; one event is enough to offer you cash the supercedes what some earn monthly as minimum wages. 

4• Livestock Feed Production

As the agricultural sector is gradually coming back to its greenery, livestock production in the country has also seen a rise because livestocks are on constant demand especially during different festivals and occasions that occurs yearly. Production of livestock feeds to be sold to livestock farmers is budget friendly and it is one lucrative business idea that's yet to be fully tapped and its purpose, fully maximised.

3• Snack Making

Snack consumption especially in urban and suburban areas is quite high with the rate at which eateries, roadside sellers and confectioneries sell out their snacks which most times doesn't meet the daily demand. This business idea is quite lucrative and costs less to start up. In fact, you can start making snacks from your own kitchen at home. Observe your target market and know what kind of snack will sell well there. For example, an area with lots of students will patronize small fries like puff-puff, chin chin, fish pie, doughnuts and eggroll. You'll need skills in making various snacks, you can check out their recipes online.

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2• Snail Farming

Snail farming is another business venture with rich opportunities and benefits that has remained untapped in Nigeria. Snails have a high consumption especially in coastal parts of Nigeria where they are used to make dishes. It is a budget-friendly venture that requires lower capital to start up and surprisingly, those slow crawlers can fetch you millions depending on your production size.

1• Poultry Farming

This is one of the most lucrative businesses in Nigeria's agricultural sector. Nigeria consumes a lot of poultry products like meats and egg and you can produce these, generate wealth for yourself with a little capital. Poultry farming is beginning to grow recognition in Nigeria as many people have seen the opportunities hidden in this ventures and they have set out to maximise these opportunities. Well, you too can! You can buy day old chicks, get battery cages and feeds to start up and before you know it, you'll be a proud owner of thousands of birds which will yield income for you regularly.

In conclusion, there are other business ideas and ventures to key into and be self employed but these are some of the most lucrative in Nigeria now. We can reduce the level of unemployment and even create jobs for others if we start one or two of these business ventures listed above.