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Best 25 Business Ideas in Lagos for 2024 with Low Capital

Lagos is one of the largest cities and commercial capital of Nigeria. Lagos provides the best business atmosphere supported by good infrastructural support to  Small and Medium businessmen.

With a growing population of about 20 million people, small business opportunities in Lagos are backed up by strong domestic market demand.

25 Small Business Ideas in Lagos

1.  Food Catering business

Most workers in the city of Lagos do not have the time to cook as they leave home very early in the morning and arrive late at night. They don’t have any other option but to buy food items from restaurants and fast food centers. Starting a food delivery business in Lagos is bound to be profitable if planned properly.

2. Cab/car hiring business

A cab driver in Lagos on average earns NGN 12,000 every day. This business is worth giving a try by investors. Here is a stepwise guide on steps to follow to start a car rental business.

3. Fitness Instructor

There are a lot of people in the city who love to keep themselves fit. They look forward to working with fitness instructors or gyms in exercising, massaging, and remaining fit. You need a little money to start this business.

4.. Event Management

Parties take place in Lagos throughout the year. You can work as an event organizer and make money. Check our article on profitable event management businesses to know more.

5. Fashion Designing

Nigerians and Lagosians, in particular, show a lot of interest in local designers. The demand for Aso Ebi has been on the rise in Lagos. Starting a fashion business in Lagos, especially for ladies can be a huge success if planned and executed properly.

6. Real Estate

Buying, developing, and selling properties is one of the most profitable businesses in the city. You can start a real estate agency business and make good money providing solutions for accommodation to people.

7. Travels and tours

Lagos is witnessing more foreign visitors coming in recent days mainly for tourism purposes.  You can work as a tour guide and help tourists explore the city of Lagos in Nigeria. Ticketing, visa processing, and hotel reservations business are some of the areas you can explore.

8. Man Power Hiring Agency

There is an acute problem of unemployment in Nigeria, especially in Lagos. You can make good money by providing employment solutions to job seekers.

9. Security Agency

Security is a major concern for people here in this metropolis. You can start a security service agency and provide security solutions to individuals and organizations.

10. Cleaning services

A cleaning service business is one of the most thriving businesses in the city. You can start a cleaning service agency in Lagos and provide services like Car washing, home cleaning, office cleaning, laundry, dry cleaning, etc.

9. Babysitting 

Over ninety per cent of nursing mothers in the city are too busy with work, as such, they employ the services of babysitters and daycare centers to help them care for their babies. On average, a daycare center has 15 children and charges NGN 10,000 per child.

10. Fitness center

This business thrives most in the city. A lot of individuals place much value on exercise, massaging, and keeping fit and as a result of that, they patronize fitness centers. It should be noted that this business is relatively capital-intensive.

11. Cosmetic Store

People in Lagos are fashion-conscious. If you have a retail space in a commercial location, selling cosmetic items can be very profitable.

12. Set up a Salon

Salon business is another beauty-related business that has good money-making potential in the city of Lagos. Furthermore, you can offer services like hairstyles, manicures, pedicures, spas, and many more.

13.  Bar Cum Restaurant

Though the restaurant market is a bit competitive, still there is ample scope for new entrants in this sector in Lagos. You can come up with a theme-based bar-cum-restaurant to attract more customers.

14. Start a Manufacturing Business in Lagos

If you have some funds, consider starting a small-scale manufacturing business. There are a lot of scopes for a manufacturing business as there is a good domestic audience in Lagos to buy the product.

15. Distribution Business

As a distributor, you will work as a middleman between the manufacturer and the retailer. If you have some space to stock items, the distribution business in Lagos can fetch you good returns.

16. Quail Birds Farming

The demand for quail birds is rising all across Nigeria. It is no different in the city of Lagos. One can start quail bird farming here in this city and make a good profit.

17. Funeral Busines

One can start a business supplying funeral accessories and earn good money. The funeral business is a traditionally profit-making venture in the city of Lagos.

18. Wine Bar

The people in Lagos love wine. If you have a space in a commercial location, the wine bar business can surely be a lucrative venture here in this part of the world.

19. Party Rental

Lagos is known for parties. One thing is for sure, there will be no shortage of customers in the party rental business in the city.

20. Sell and Repair Mobile Phones

Another small-scale business that can be hugely profitable here is a mobile phone-related venture. The city has a high rate of smartphone usage, as many residents rely heavily on their smartphones for communication, business, and entertainment. You can sell mobile phones, and mobile accessories, or repair old phones. You need an investment as low as N25,000 to open a mobile phone accessory business in Lagos.

Home-Based Online Business Ideas in Lagos

21. Start a Blog

If you are looking for a legitimate way of making money from home with a nominal investment, starting a blog in the present day, is the most profitable option. Several niches can be explored to make money out of a blog. It can be food, sports, photography, etc.

Read: How to Start a Blog

22. Online Teaching

If you are a subject expert, teaching online is a good way of making extra money in your spare time. Many online tutoring job sites offer online teaching job opportunities.

23. Affiliate Marketing

Many here in this city are making good money as affiliate marketers. You can check our guide on how to make money out of affiliate marketing to learn more.

24. Dropshipping Business

Dropshipping is an online product distribution model where you do not need to stock inventories. You need to simply take orders online from your e-commerce website. The concerned product manufacturer or supplier will deliver the product to the customer. You in turn will get a commission out of the sale.

ReadHow To Start A Drop Shipping Business with Low Investment

25. Become a Virtual Assistant

More and more companies are outsourcing jobs to online freelancers. As a virtual assistant, you will be offering services remotely to the vendors. Check this guide to learn more about the virtual assistant business.

Lagos is no doubt the most business-friendly city in Nigeria. Analyze the above-mentioned business opportunities in Lagos and start the one which you think fits you. Best of Luck!

Frequently Asked Questions

Is Lagos a good place to start a business?

Yes, Lagos is considered one of the most vibrant and economically active cities in Africa. This metropolis provides ample opportunities for entrepreneurs.

What are the key industries in Lagos?

Key industries in Lagos include finance, technology, entertainment, real estate, and manufacturing.

How do I register a business in Lagos?

To register a business in Lagos, entrepreneurs need to follow the guidelines provided by the Corporate Affairs Commission (CAC) in Nigeria.

What is the cost of living in Lagos?

The cost of living in Lagos can vary, but it is generally higher than in other Nigerian cities. It is essential to factor in housing, transportation, and other living expenses.

Are there government incentives for businesses in Lagos?

The Lagos State government occasionally provides incentives and support programs for businesses. Entrepreneurs should stay informed about such opportunities.