In today’s Nigeria, the cost of living keeps rising while formal jobs become harder to secure.
For many young people and families, one income source just isn’t enough. But there’s hope—many Nigerians are turning to side hustles to take control of their financial future.
Whether you’re a graduate, parent, or nine-to-fiver looking to supplement your earnings, these five practical business ideas can be started with ₦500,000 or less.
They focus on high-demand markets, require minimal overhead, and have room to grow.
Let’s break down how to start, what it costs, and how much you can earn.
1. Pepper Grinding & Spice Blend Sales
Startup Cost: ₦350,000
Monthly Profit Estimate: ₦200,000
From Iya Bose’s buka to Lagos kitchens, ground pepper and spice mixes are always in demand. With around ₦150,000, you can buy peppers in bulk. Another ₦100,000 covers a basic electric grinder and stainless bowls, while ₦100,000 gets you packaging jars, labels, and a sealing machine. A small workspace can be rented for ₦20,000–₦30,000 monthly.
Package and sell 200g jars at ₦1,000–₦1,200 to homes, local vendors, and stores. Maintain quality, offer taste tests, and let word-of-mouth drive repeat customers.
2. Home-Based Graphic Design & Print Services
Startup Cost: ₦300,000
Monthly Profit Estimate: ₦150,000
If you’re creative and tech-savvy, turn your laptop into a money-making machine. Use ₦200,000 to get a reliable laptop, ₦50,000 for graphic design software, and ₦50,000 for an inkjet printer and paper supplies.
Offer logo design (₦10,000–₦15,000), print flyers, and help local businesses stand out. Promote on Instagram, WhatsApp, and business groups. The more your portfolio grows, the higher your rates.
3. Rechargeable Lamp Sales & Repairs
Startup Cost: ₦400,000
Monthly Profit Estimate: ₦200,000
Power supply remains unstable, and people need alternatives. With ₦250,000, buy 40–50 rechargeable lamps and lanterns. Use ₦50,000 to rent a stall, and another ₦50,000 for tools like soldering irons and spare batteries. The remaining ₦50,000 goes toward transport and daily costs.
Sell basic lamps at ₦7,000 and premium ones at ₦10,000–₦12,000. Offer battery repairs for ₦1,000–₦2,000. A good location—like a bus stop or market—makes all the difference.
4. Online Tutoring for WAEC & NECO Students
Startup Cost: ₦200,000
Monthly Profit Estimate: ₦200,000
If you’re strong in academics, use your knowledge to earn. Spend ₦80,000 on stable internet, a webcam, and mic. Use ₦50,000 for printed textbooks and ₦70,000 on social media ads and school flyers.
Charge ₦5,000–₦7,000 for one-on-one sessions and ₦2,000–₦3,000 for group lessons. Just five students in daily 2-hour classes can bring in solid income, especially during exam seasons.
5. Phone Accessories & Small Electronics Kiosk
Startup Cost: ₦450,000
Monthly Profit Estimate: ₦200,000+
Everyone uses phones—make that your business. Spend ₦200,000 on chargers, earphones, cases, and power banks. Rent a small kiosk for ₦100,000 and use ₦50,000 for display stands and signage. Keep ₦100,000 for generator fuel and running costs.
With markups of 30–50%, selling 20–30 units daily can earn ₦600,000 to ₦800,000 monthly. Target university areas and markets with high foot traffic.
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