The Top 5 Lucrative Business to Start with 500k in Nigeria

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business to start with 500k in nigeria

These list of lucrative business to start with 500k in Nigeria will get you out of poverty in few months. Here, I explained why you should start any of these businesses.

Business to Start with 500k in Nigeria

Do you have 500k and you are looking for a business to start with it in Nigeria? In this post, I will share the top 5 lucrative business to start with 500k in Nigeria.

business to start with 500k in nigeria

Now, stated and explained below are the top 5 lucrative Business to Start with 500k in Nigeria.

Battery sales and repair

Battery sales and repair is one of the most lucrative business to start with 500k in Nigeria; this is because of the incessant increase in number of mobile phone users. Batteries are power sources that are used in our phones, laptops and other electronic gadgets.

Batteries are very important to us as they are used in our everyday activities. There is never a time when they will be not needed by anyone.

battery sales and repair

You can start with small capital by purchasing batteries from wholesalers or buying them from abroad at a cheaper price and selling at retail prices to your customers who might include individuals, offices, schools, churches etc…

Poultry farming

Poultry farming is another lucrative business to start with 500k in Nigeria.

Your profits will be enormous if you invest in poultry farming in Nigeria. This is because of the high demand for meat and eggs.

business to start with 500k in nigeria

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Poultry farming is the rearing of domestic birds such as chickens, ducks, guinea fowls and turkeys for the purpose of getting meat and eggs from them.

Selling of mobile phone accessories

Another lucrative business to start with 500k in Nigeria is the merchandise of phone accessories.

Selling of mobile phone accessories such as phone cover, screen guard, charger e.t.c is a gold mine for entrepreneurs especially those on student visa who do not have work permit to work in any company.

Phone accessories are cheap and easy to sell and they are always in demand. They can be resold at a profit if you buy the right stuff at right price, because Nigerians have been known to be very brand conscious when it comes to their phones, bags and shoes etcetera.

mobile phone accessories

There are websites which will allow you to sell your items online without having any initial capital investment or inventory management cost involved like Jiji (the Nigerian version of Craigslist) Linkedin Groups (Facebook groups) Instagram etcetera..

Blogging or creating a website on the internet

Most Nigerian youths now see blogging and creating of websites as one of those lucrative business to start with 500k in Nigeria.

Blogging or creating a website on the internet has now become an easy way to make money online, by just creating a website you can start generating regular income from it which can be monthly or Bi-weekly depending on your contract agreement with your advertisers.

You don’t have to be a computer geek to be able to create and maintain your own website, all you need is basic knowledge of HTML code and also some creativity with regards to designing the layout of your pages.

To make thing even easy, WordPress now provide a CMS platform where you can easily click and drag widget to build your website visually without coding.

business to start with 500k in nigeria

If you are interested in starting this business but do not know where to begin then let me tell you that there are many ways that will help you generate income from blogging.

You can drop a comment for me here or use the contact form on this website and I will guide you through.

Selling of beads and jewelry making

Many people don’t know about this very lucrative business to start with 500k in Nigeria. I did this at a time, I tell you, I was generating huge some of cash before I later stopped the business. If you want to know why I stopped, drop a question in the comments below.

My experience can help you to be more successful!

The business of selling beads and jewelry is one of the profitable business ideas you can venture into.

You don’t need to have thousands of naira before you can start selling beads and jewelry.

All you need do is to go to Alaba market, Ojo Lagos state or Computer village Ikeja Lagos state where you will easily purchase them at cheaper price than what it will be sold in other places thereby making profit at the end of a transaction.

beads and jewelries

You can also source these items from popular international market through their respective website. Some are: AliExpress, DHgate, etc.

To start this business;

  • Purchase your required amount of beads and jewelry from Alaba market Ojo or Computer village Ikeja Lagos state which is cheaper than other places then sell them online via social media pages like Facebook Instagram etc.
  • Or open up a shop on busy streets where people are more likely to visit for their needs.

Conclusion

Here, you have been able to learn the top 5 lucrative business to start with 500k in Nigeria.

However, with the current economic situation in Nigeria, there are a lot of challenges that people face. There is inflation and high prices for goods and services making daily living very difficult.

So, if you want to start your own business, you need money to get it off the ground and this can be hard when there are so many expenses already.

This article has given you great ideas on what kind of businesses can be started with 500k naira or less by looking at the above business ideas.

If you have any questions, contributions about these 5 lucrative business to start with 500k in Nigeria, please, drop them in the comments below. Thanks!

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