Business to start with 3 million naira in Nigeria
If you are looking for a business to start with 3 million naira in Nigeria, you are in the right place.
So, without wasting any time, let’s get started right away.
In This Article
Business To Start With 3 Million Naira In Nigeria
1. Business To Start With 3 Million Naira In Nigeria –
Importation & Sales of Wrist Watches, Laptops & Phone
Accessories / Online Store / eCommerce Website
Importation and sales of wrist watches and phone accessories is one of the topmost businesses to start with 3 million naira in Nigeria.
You can also import fairly used tokunbor or Belgium laptops and phones at the cheapest prices for sale to the Nigerian market too.
3 million naira will just be enough for the importation of those products as well as getting a physical store through which you can display and sell your products.
Advantages of Having an Online Store / eCommerce Website
The major advantages of having an online store / eCommerce website are as follows:
- It gives you a wider visibility, reach or coverage – anyone on planet earth with a smartphone and internet access can have access to your eCommerce store
- You can use your eCommerce store to advertise your offline business and showcase your products and services on the internet
- Your eCommerce store is always open for business 24/7, 365/6 days of the year
- You can plug other sources of income like affiliate marketing, network marketing and others into your eCommerce store
- You can operate your eCommerce store from anywhere in the world, even from your toilet or kitchen
If you are not tech-savvy, you can hire an expert to create a great e-commerce website for you at around 500k. That amount will cover the cost of your domain name registration, web hosting and content creation for you.
Additionally, you can use 2 million naira or more to buy physical products for your online store which you can deliver when customers place their orders with you. You can use an additional 300k for advertising your business to ready buyers on the internet.
The balance 200k can be your ready cash in hand to meet contingency expenses and daily running costs of the business.
Aside from having your own eCommerce store, you can plug your online store to well-established e-commerce websites like Jumia and Konga.
By having a version of your online store on those websites, you thereby leverage on their popularity to reach your target audience wallet-in-hand, ready-to-spend buyers more quickly.
Where to Get Your Products
Some of the places where you can order products online from China include Aliexpress, Alibaba, 1688, and others. Thereafter, you will get your items shipped to your delivery address in Nigeria where you can then sell them at a mouthwatering profit.
Those are the places where importers get the phone accessories which they sell locally at Alaba market and Computer village in Lagos, NITA market in Abuja and Central market at Onitsha in Anambra state.
This business is ideal for everyone who is looking for a steady source of income on a weekly and even daily basis.
The beauty about this business is that it does not interfere with your normal business or paid employment. You can do it full time or part time.
But if you have a paid employment, you may not be able to import phones and their accessories, unless you are able to get someone to operate your shop for you in your absence.
However, in order for you to succeed quickly and super fast with the importation / eCommerce business, you need to do ONE THING…
And that thing is this:
You need proper guidance in order for you to succeed faster as an importer in Nigeria.
But, without proper guidance…
- you will make mistakes and the learning curve will be great.
- you could end up getting scammed by fraudulent suppliers on the internet.
That is why the need to have someone with the requisite experience and knowledge to guide you through the whole process is very important.
If you have 3 million naira and would love to learn how to succeed super fast with the importation / ecommerce business in Nigeria…
2. Business To Start With 3 Million Naira In Nigeria –
Start Trading (Buying & Selling) Cryptocurrencies
One of the best and top paying businesses you can start in Nigeria today is trading in bitcoins.
As at the time of publishing this post, the live Bitcoin price for bitcoin is $29,887.14 USD with a 24-hour trading volume of $8996802896.66.
At today’s exchange rate of 776.50 naira to the dollar,
$29,887.14 = 23,207,364.21
According to Forbes Advisor, here is a chart of the price history of bitcoins since
investing in Bitcoin also involves risks, including market volatility and the potential for hacking and fraud
to start with 3 million naira in Nigeria is trading cryptocurrencies.
That is the alternative investment you have for your money since you have to have several millions of naira for you to be to be able to trade in Bitcoin.
How to trade cryptocurrency for beginners
Many different approaches exist in terms of how to trade cryptocurrencies. In order to start trading cryptocurrencies, one first needs adequate knowledge of the subject. It is also critical to know the associated risks and the laws that may apply based on one’s jurisdiction and decisions should be made accordingly.
Sign up for a cryptocurrency exchange
You’ll need to open an account with a crypto exchange unless you already own cryptocurrency. The best crypto brokerages on the market include Coinbase, eToro and Gemini. All three of these services have a straightforward user interface and a wide range of altcoins to pick from.
To open an account with a crypto brokerage, you’ll need to supply personal identifying information just like you would with a stock brokerage. When creating an account, you’ll need to submit your address, date of birth, Social Security number (in the United States) and email address, among other things known as Know Your Customer (KYC) requirements.
Fund your account
You’ll need to connect your bank account once you’ve signed up with a crypto brokerage. Most cryptocurrency exchanges accept bank deposits via debit cards and wire transfers. Wire transfers are usually the most cost-effective way to fill your account and they’re accessible on Coinbase and Gemini.
Pick a crypto to invest in
The majority of cryptocurrency traders put their money into Bitcoin and Ether. However, trading utilizing technical indicators is possible because these cryptocurrencies move more predictably than smaller altcoins.
Many cryptocurrency investors put a portion of their money into altcoins. Although riskier than large-market cap cryptos, small mid-market cap cryptos have more significant upside potential.
You might try automatic crypto trading with software like Coinrule if you’re looking for a crypto trading strategy. Crypto trading bots implement a process designed to provide you with the most significant returns possible based on your investment objectives.
You can make money rapidly, keep your coins, or diversify your portfolio with crypto automated trading, which can provide you with a conservative, neutral, or aggressive way. You might even explore trading cryptocurrency actively on some sites while automating trading on others.
Store your cryptocurrency
If you’re actively trading BTC, you’ll need to keep your funds on the exchange in order to access them. For example, you should purchase a Bitcoin wallet if you’re buying cryptocurrency to hold for the medium to long term.
Software wallets and hardware wallets are two types of cryptocurrency wallets. Both are safe, but hardware wallets provide the most protection because they keep your cryptocurrency on a physical device that is not connected to the internet.
3. Business To Start With 3 Million Naira In Nigeria –
Open a Supermarket
Operating a supermarket where you can display and sell provisions and daily consumables is another one of the top paying businesses that you can start with 3 million naira in Nigeria.
You can operate a one-stop shop where you display a variety of products which people use everyday from daily consumables to personal care and beauty products like detergent, toothpaste, milk, baby foods, pampers, roll-on, sanitary napkins and so on.
All you need to start this business aside from your 3 million naira is a big store with good outlay and design. Once you have that in a good location, simply go ahead and stock the store with household products and watch the millions roll in within a very short time of starting your business.
4. Open a Boutique
3 million naira is more than enough to start a quality boutique business in Nigeria.
By the way, a boutique has to do with the sale of fashion items such as clothes, shoes and other materials.
You may also consider adding the sales of used clothes and shoes to your boutique business.
This is because the sales of used clothes and shoes is a very profitable business that you can start in Nigeria. With 2 million naira, you can open a standard boutique and combine it with the sales of used clothes and shoes.
However, you need a good location close to the market, school areas or on a busy street for you to succeed with this business.
This business is ideal for those who have a good sense of fashion. If you fall into this category, this is one of the businesses to start with 2 million naira in Nigeria.
6. Mini Importation /
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 3
7. Sales of Laptops / Computer Accessories
This is another business that you can start with 2 million naira in Nigeria.
With 2 million naira you can rent a shop and stock your laptops and computer accessories like printers, scanners, mouse, keyboards, chargers, laptop batteries and others, as well as computer software disks.
You can combine the business with the sales of mobile phone accessories too.
2 million naira will go far if you specialize in the sales of fairly used / tokunbor / Belgium laptops and computers. Otherwise, you will require far more than that amount to do the business comfortably if you only specialize in the sales of new products.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 2
8. Cooking Gas Business
The cooking gas business is another business idea that you can start with 2 million naira in Nigeria. And that is because cooking gas is something people use every day. As a matter of fact, at least 70% of Nigerians use cooking gas to cook their meals every single day.
So, dealing in the sales of cooking gas is a very profitable business that you can start in Nigeria to make plenty of money.
And the beauty of it is that you will begin to make money from the very first day of starting the business without even having to spend money to erect a signpost or print a banner to advertise your products. Passersby seeing your cylinders will always stop by to check out your store.
With 2 million naira, you can purchase your equipment which include a gas tank, a scale, hose pipe, and a dispenser, as well as purchase your gas products and rent the store to stock your products.
Thereafter, you can open shop and begin making money immediately.
9. Block Industry
The block industry business is another business that you can do with 2 million naira in Nigeria.
With 2 million naira in hand, you will be able to rent a space to display your blocks, buy a mixer and cement, and employ one or two laborers to mold your blocks for sales to the public.
That money will also be able to take care of delivery of the sold blocks to your customers too.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 4
10. Printing Business
This is another business that you can start with 2 million naira in Nigeria.
The printing business is a very profitable business to go into in Nigeria. Some of the jobs you will get include the printing of banners, flyers, T-shirts, book covers, and so on.
Take note that most of the money you will make in this business will come from big projects like customizing sportswear for schools, companies and other organizations like NGOs. And it is also becoming highly competitive too.
So, offering a bargain price is crucial to getting patronage from the existing schools and others in your area.
Aside from the cost of renting the place you will use for your printing business, you will need to acquire a generator or solar equipment for the business too.
Additionally, you will also need to buy your printing equipment and their accessories before you can start making money from this business.
11. Rental Business / Event Management
The rental / event management business is another one of the top businesses that you can use two million naira to start.
Frankly speaking, the rental business is a very profitable business in Nigeria because no week goes by without any ceremony – be it burial, marriage, naming, graduation, housewarming, and so on – being held in any part of the country.
The beauty of this business is that you will only need to deliver the demanded items to the venue of the ceremony and go back to pick them up when your customers are through with their ceremony.
So, your physical presence is not needed at ceremonies or your store for the business to thrive. You only need to employ one sales person to take customer’s orders.
Some of the materials you will need for this business include canopies, chairs, tables, pots, coolers and so on for customers’ events.
With two million naira, you can be able to start and run this business successfully.
12. Transport Business
With two million naira, you can start the transport business successfully in Nigeria.
All you need is a tokunbor or Belgium car which you can get for between than 1.2 million naira and 1.6 million naira.
After that, you will only need to pay for cost of registration, plate numbers and others. Thereafter, you can start your transportation business right away.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 5
13. Become an Uber Driver
Becoming an Uber driver is similar to the transport business above and it is very profitable too.
With 2 million naira, you can purchase a very presentable tokunbor or Belgium car and successfully start making money as an Uber driver in Nigeria.
14. Sales of Motorcycle Spare Parts
This is another business that is capital intensive. But, with two million naira or even less, you can successfully start one and operate it very well.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 3
15. Sales of Plastic Products
Another highly profitable business that you can start with 2 million naira is the sales of plastics products like bowls, plates, coolers, waste bins, baskets, balls, etc.
Though it is a highly capital intensive business, with 2 million naira, you can successfully start the business and operate it effectively.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 6
16. Cyber Cafe / Computer Center Business
This is another business that you can use two million naira to start and operate successfully in Nigeria.
You will need at least 10 fairly used laptop computers each costing at least 80k to start this business. That is a total of 800k.
You will also need other computer accessories like a printer, papers and other items to successfully start your business. With an additional 300k, you are good to go.
The amount to rent an office space may take 240,000 naira per annum.
Cost of installation, cables and networking materials may cost an additional 300k to put together.
So, with at least 1.5 million naira to 2 million naira cash at hand, you can successfully start and operate a cyber cafe / computer center business in Nigeria.
17. Open a Jewelry Store
Another super lucrative business to start with 3 million naira in Nigeria is the jewelry business.
All you need to succeed with the jewelry store business is a firsthand knowledge of fake and original jewelries.
Once you have that together with information on where to get quality and bargain prices of jewelries, you are good to go.
The beauty about this business is that you do not need to have a generator for you to operate it successfully.
Additionally, you do not need a large space to keep your goods.
18. Open a Cement Store
Another business you can start with 2 million naira or even less is the cement business.
Though the cost of cement has gone up remarkably, people still build houses and engage in different types of construction which require cement as one of its materials every single day.
Some of the cement products that you can include are Dangote and Elephant cement.
Frankly, the cement business is a very profitable business as you can make as much as 300k to 500k every month.
All you need to do is register as a distributor, pay and get a truck of cement, and then supply it to retailers at cheap prices.
Which Legit Business Can I Start With 2 Million Naira In Nigeria? – Set 7
19. Start a Soft Drinks Business
The soft drinks business is another highly profitable business that you can start with 2 million naira in Nigeria.
The beauty of this business is that it is something that is always in demand with people everyday. In other words, people buy various soft drinks products along with snacks for their lunch every day.
So, there will never come a time when the business will become saturated or no longer popular.
All you need to become successful very quickly in this business is a large store of about 18ft by 14ft, some furniture, a standing or ceiling fan, a cooling van or refrigerator to cool your drinks.
Once all that is in place, you can then register to become a distributor to soft drink companies such as Coca Cola and others. Thereafter, you can start your business and begin supplying soft drinks to retailers at reasonable prices.
20. Livestock Farming
Livestock farming is another very profitable business that you can begin with 2 million naira or even less in Nigeria and start making a 6 to 7 figure income every single month.
By the way, livestock farming has to do with the rearing and production of animals and their products.
Some of the areas that you can specialize in your livestock farming include: poultry farming, fish farming, snail farming, pig farming, goat farming, cattle farming, etc.
Once you have reared your livestock to maturity and they begin producing, you can begin selling their products like eggs, milk and meat to retailers and end-users to make money.
The only thing you need for instant success with this business getting a large space where you can keep your livestock, as well as a nearby location for getting your animal feed closest to your area.