45 Lucrative Business Ideas For Nigerian Students In 2024

Lucrative Business Ideas For Nigerian Students In 2024

Are you a student who wants to start a business in 2024?

Here is a great opportunity for you to choose one of the most lucrative business ideas for Nigerian Students in 2024. 

The right time to start is now, although starting may not be easy, you have to at least start from somewhere as it is a gradual process.

Just bear in mind that success is not made overnight. 

Lucrative Business Ideas For Nigerian Students In 2024

1. Nigeria-made Wears Business 

Start by selling Nigerian-made clothing items that represent Nigerian culture and fabrics.

You can also sell foreign readymade clothes like turkey brands and others to increase your profits.

The profitability depends on factors such as the uniqueness of designs, quality of materials, and marketing strategy. Selling to both students and lecturers can increase your profits in this business. 

2. Rechargeable Lamp Business

Selling portable lighting solutions that can be recharged, helping the frequent power outages in Nigeria is a good business to start with as a student.

You can even sell to lecturers, your fellow students, coursemates, roommates and other people living around your school. 

3. Wrist Watch Business

Starting by selling wristwatches, possibly with culturally inspired designs or customizable options is one of the lucrative business ideas for Nigerian students in 2024. 

Success in this business hinges on sourcing watches at competitive prices, effective branding, and selling a variety of styles.

Higher profit margins can be achieved with exclusive or premium designs.

4. Hairdressing and Wigs Business

This is the art of making people’s hair and selling hair extensions and wigs.

You can start this business easily in your school and your fellow students will be your first customers before others.

Profit is made by braiding beautiful styles to your customers, which will attract other customers to you.

Also, having good pricing and selling of quality hair/wigs is another way to achieve profit in this business. 

5. Phone Business

Having a business that involves selling and repairing mobile phones, and accessories is recommended for a Nigerian student who wants to earn side money.

Achieving success in the phone business requires selling quality phones from a good brand and by using quality parts to repair your customers’ phones. 

6. Stationery Business 

Do you know that the stationery business is one of the lucrative business ideas for Nigerian students in 2024?

As a student, it’s easier to sell these products because you already know the booming products.

Great profit can be made if you sell different quality products at competitive pricing. Having good relationships with your fellow students and other students can ensure a steady customer flow.

7. Flash Drive and Music Player Business 

Selling portable USB flash drives with varying storage capacities to meet the data storage needs of students.

Success in this business involves sourcing reliable drives, offering different storage options, and marketing them as essential study tools.

8. Printing and Photocopy Business

Providing printing and photocopy services to students and lecturers is a good business to start in Nigeria if you are a student. 

It will be easier for you to collect all the materials they want to print and photocopy and provide the services to them than any other person who is not a student.

9. Provision Business

This is also one of the lucrative business ideas for Nigerian students in 2024 which involves managing a small retail store that sells daily necessities such as groceries, snacks, and household items.

Success in the provision business requires a good location and by selling up-to-date products. Profit margins may increase with bulk purchasing and bonuses.

10. Recharge Fan Business 

Start selling rechargeable fans to provide relief during power outages and hot weather. You can sell this to your coursemates, roommates, fellow students and people living around your school. 

The profitability of this business is influenced by factors such as fan efficiency, battery life, and marketing.

Targeting residential areas and promoting energy efficiency can contribute to success.

11. Egg Business

Starting a business that involves the sale of eggs, either produced locally or sourced from reliable suppliers is a good one for students.

Most students cannot do without eggs, they love eggs so much and this is why you should start an egg business in your school.

With the rise in demand for eggs, it made this business a profitable one. 

12. Noodles Business

Running a business that focuses on the sale of instant noodles is another one of the lucrative business ideas for Nigerian students in 2024. Start this business in a student area.

Profit is achieved in this business through the high demand for noodles by students. Students and noodles are 5 and 6. You can even sell to other people around your school. 

13. Cosmetics Business

Starting the sale of cosmetics, including makeup, skincare, and beauty products is a great business for students to earn money with. 

As a student, the best place to start this business is within the school area.

The cosmetics business is profitable because of the high demand for creams, powders, soaps and makeup products such as foundation, lipstick, and others.

Most students cannot do without these products and that’s why it is more profitable. 

14. Beddings Business

This involves a business that sells bedding, including bedsheets, pillowcases, and Duvets. You can start this business at the comfort of your home or school.

Success in this business involves sourcing quality materials, selling various designs, and maintaining competitive pricing. 

Targeting individual customers, students and hospitals can increase your customer base.

15. Makeup Artistry Business

Offering professional makeup services for events, photoshoots, and special occasions is also one of the best lucrative business ideas for Nigerian students in 2024.

You may like to read the best businesses to start with n500k in Nigeria in 2024.

Making profits in this business is achieved if you focus on providing quality services to your customers and by making friends with your fellow students so that they can call you for their makeup whenever they need it. 

Also connect with event planners who can give you access to wedding brides, birthday celebrants and other people.

Advertising on social media can also be a good way to attract customers to your business. 

16. Cake Materials Business

This involves running a business that sells ingredients and materials for baking cakes, including flour, icing, and decorations.

Success in the cake materials business requires selling quality products at good pricing.

Establishing relationships with local bakeries and offering bulk discounts can increase profitability.

17. Adapter and Wire Business

Selling electrical adapters, wires, and related accessories to provide for the needs of customers for electronic devices is a fitting business for students. 

Profit can be achieved by sourcing reliable products, good location, good pricing and targeting both residential and commercial customers.

18. Laptop Business

Starting a business that involves selling laptops, accessories and repairing laptops is another one of the lucrative business ideas for Nigerian students in 2024. 

As a student in Nigeria, you can start this business around your school environment as there will be high demand for it because the majority of the students are using laptops for their academic work.

19. Photography Business

Provide professional photography services for events such as weddings, birthdays and other parties. 

Focus your photography services around your school, there are always birthday shoots, wedding pictures, party pictures and after-lecture pictures.

To make profit in this business, you should always focus on providing quality services to your customers, be outstanding in the service you render and this will definitely attract greater customers to you. 

20. Video Editing Business

Start by providing video editing services for individuals, businesses, and content creators in and outside your school.

The demand for this service is high because every Nigerian wants to create quality video content for their online platforms 

Success in video editing involves producing or creating quality video content and services to your customers. 

21. App Development Business

Start by creating and developing mobile or web applications for businesses or individual clients, this is also one of the most amazing and lucrative business ideas for Nigerian students in 2024.

Success in app development depends on having good technical expertise, understanding market needs, and effective project management. 

Profit can be generated through project fees, app sales, or subscription models in the business.

22. Solar Installation Business

This is a business that involves mounting or installation of solar panels and solar lights. As a student, you can do this business without affecting your academics.

Start by providing services related to the installation of solar panels and solar energy systems in schools, homes, banks, supermarkets and markets.

Reach out to them with your fliers or business cards. 

Profit can be achieved by the type of installations you are doing, the quality of components used, the location of your business and good marketing strategies to both residential and commercial clients.

23. Cable Installation Business

This involves services related to the installation of television cables, CCTV cables, electrical cables, and network cables in residential or commercial spaces.

Success and profit in cable installation depend on your level of expertise, efficiency, good location and good pricing.

24. Tutoring Services

Here is another one of the lucrative business ideas for Nigerian students in 2024 that involves providing academic tutoring services for students in various subjects or exam preparation. 

Success in tutoring services is achieved when you have strong expertise in the subject matter, effective teaching methods, and offering both in-person and online tutoring classes.

25. Social Media Management

Start by managing social media profiles for businesses or individuals that need this service, this will help enhance their online presence and also a feasible business for students in Nigeria.

Social media management can be profitable if you can offer packages that include content creation, Facebook monetization and analytics by delivering measurable results to clients.

26. Jewelry Business

This involves running a business that involves designing, creating, and selling jewelry items. Visit different students and tell them about your business, if possible create a Whatsapp group and add them to it for effective building of customer base. 

Success in the jewelry business requires selling unique designs, quality materials, and good marketing strategies. Having an online presence and connecting with influencers can increase sales in this business.

27. Blogging

Blogging is one of the great lucrative business ideas for Nigerian students in 2024 that requires students who know how to manage their time properly. 

Start by creating Ad maintaining a blog for yourself or for people. You can choose a particular niche or topic and start sharing content through your blogging platform. 

Monetizing a blog can be done through various channels such as advertising, sponsored content, affiliate marketing, and selling digital products. 

Success in blogging requires consistent writing of content/uploads and strong promotion.

28. DJ Work Services

If you are a student who has an interest in music, this business idea is for you. Start providing DJ services for events, parties, weddings, and other celebrations. It is a fitting business for a student who has the skills and tools.

Success in DJ work depends on building a diverse music library, having quality equipment, and offering additional services like event planning or lighting can contribute to higher earnings.

29. Podcasting

Creating and producing audio content for a podcast, and discussing topics of interest is a feasible business for a Nigerian student that does not jeopardize the student academic program if managed properly.

Podcasts can generate revenue through sponsorships, advertisements, and listener support. Success depends on producing engaging content, building a loyal audience, and effectively monetizing the podcast platform.

30. Copywriting

Try copywriting if you are looking for lucrative business ideas for Nigerian students in 2024.

This involves providing writing services for businesses and creating content for websites, advertisements, and marketing materials.

Success in copywriting involves strong writing skills, understanding client needs, and meeting deadlines.

Charging competitive rates and building a portfolio of successful projects can attract clients and boost profitability.

31. House Cleaning Services

As a student in Nigeria, you can start offering professional cleaning services for residential properties. You can establish relationships with contractors and Engineers if you want to make higher profits.

Success in house cleaning relies on providing thorough and reliable services. Pricing structures can be based on hourly rates or end-of-the-week/month rates. 

32. Car Wash Services

Starting a service that involves cleaning and detailing vehicles, both interior and exterior is a great business for students.

Render these services to Lecturers and students that own cars, but always find it difficult to wash them. 

Profits depend on the volume of cars washed, pricing structure, interior detailing and quality of your services to customers. 

33. Translational Services

As a student, you can start providing translation services for documents, websites, or verbal communication between individuals who speak different languages.

Success in translation services relies on language proficiency, cultural understanding, and good expertise. Rates can be charged per word, per page, or hourly. 

Making connections with businesses and individuals looking for translational services is a great way to increase profitability.

34. Graphic Design Business 

Here is another one of the most lucrative business ideas for Nigerian students in 2024 which involves offering graphic design services for businesses or individuals, including logo design, branding, and marketing materials.

Making a profit with graphic design depends on the level of your skill, portfolio quality, and good marketing strategy.

Charging per project or hourly rates, and offering package deals can contribute to sustained income.

35. Tailoring

Start providing custom tailoring services for clothing, you can start this business around your school and your fellow students will start patronizing you.

Success in tailoring requires skill, attention to detail, and customer satisfaction. Profit is achieved on the type of designs, and quality of materials used by the tailor. 

36. Laundry and Dry Cleaning Business

Start laundry and dry cleaning services for clothing and household items. You can start this business around the school so that busy lecturers and students can patronize you. 

Profit is achieved when you have a good location, good pricing and a good marketing strategy. You can also reach out to lecturers and tell them about your business. 

37. Pastry Business

This is also one of the lucrative business ideas for Nigerian students in 2024 that involves baking and selling pastries, cakes, and desserts.

Success and profit in the pastry business rely on the quality of baked goods, unique services, and good marketing strategies. Customers are always attracted by quality, so try to be unique. 

As a student, you can easily start this business in your hostel, or in the student market area. There is always a high demand for pastry business as students often use them as snacks. 

38. Fitness Coach Services

You can start teaching one one-on-one fitness coaching services, either offline or online. Most students enjoy keeping fit and are always looking for where they can learn. 

Success as a fitness coach depends on the level of your expertise, the quality of the services rendered.

For example, if you have quality fitness tools, there will be chances to offer quality services by gaining more customers than those that operate with poor tools. 

You can also offer individual or group sessions by creating fitness programs and various services such as nutrition counseling which can contribute to profitability.

39. Pet-sitting Services

Start offering pet-sitting services where individuals care for pets in the absence of their owners.

Profit and success in pet-sitting involves building trust with pet owners, offering reliable services, and good advertisement. 

40. Event Planning Services

Try event planning services if you are looking for one of the best lucrative business ideas for Nigerian students in 2024.

Start by providing event planning services for weddings, parties, corporate events, and other special occasions.

Profit in event planning depends on the scale and type of events, your expertise, and negotiation with vendors.

Charging a percentage of the event budget or a flat fee for services rendered contributes to profitability.

41. Mini Importation Business 

This is a business that involves importing small quantities of goods, usually from overseas, to sell locally either in your shop or in your school. You mustn’t have a shop before you start this business.

Success and profits in mini importation depend on finding profitable products, understanding imp

ort regulations, by sourcing affordable yet quality products, managing shipping costs, and setting competitive prices.

42. Affiliate Marketing

This involves promoting other people’s products or services and earning a commission for each sale generated through your referral.

It is a smooth and easy online business for students that does not require money before you can start. 

Profit in affiliate marketing comes from successful referrals and success relies on choosing the right affiliate programs, understanding the target audience, and good promotional strategies. 

43. Content Writing

Content Writing is a good step to take if you are looking for one of the most lucrative business ideas for Nigerian students in 2024, start by offering writing services to create content for websites, blogs, marketing materials, or any other written communication.

Profit gain in content writing depends on the level of your skill, SEO expertise, and good communication.

Rates can be charged per word, per article, or on a project basis. 

Also, building a strong portfolio on social media platforms and establishing long-term relationships with clients increases profitability as a content writer.

44. Bag Business

This type of business involves designing, manufacturing, and selling bags, ranging from handbags to backpacks. You can easily do this business in your hostels by going room to room. 

To make success and profits in the bag business requires unique designs, quality materials, good advertisements, low production costs, strong branding, customized bags and high market demand. 

45. Footwear Business

Starting a footwear business is also a feasible business for students that involves designing, manufacturing, and selling footwear, including shoes, high-hill shoes, sneakers, slippers and sandals.

To make a high profit in the footwear business, you should consider producing or selling unique designs, quality material shoes, and a good location. 

Conclusion 

Success in these lucrative business ideas for Nigerian students in 2024 involves a combination of understanding customer needs, good pricing, good marketing strategies, and providing quality products and services. 

You should always strive to make a difference. Take action and do not procrastinate. With hard work, dedication, and creativity, Nigerian students can build lucrative businesses and achieve their entrepreneurial dreams in 2024.