Cheapest Profitable Business to Start in Nigeria as a Student 2024

Nigerian Universities’ tuition fees might be one of the cheapest in the world, but it is no secret that the country’s economy is in a state of distress.

The average Nigerian family struggles to eat three-square meals in a day due to the constant hike in the prices of foodstuffs and the continuous depreciation of the value of the Naira.

Education becomes a luxury to this class of people who spend almost all their earnings on feeding.

Most students in Nigerian tertiary institutions come from these homes and, as such, want to have a side hustle that will bring in some extra income.

Students in this category would rather start a business than work a job because they need time flexibility around their academic schedule.

Students must be very careful about the type of business they intend to start.

Most of them won’t have a large capital to kick-start their business, so we must look at businesses that can start with small capital that can yield maximum profits without hindering their academic pursuit and also give time freedom.

This article will look at the cheapest, most profitable businesses students in Nigerian tertiary institutions can start and how to go about it.

Let me know in the comment box below if you have any questions or need further clarifications.

I would love to hear from you.

Profitable Business to Start in Nigeria as a Student

The following are the ways and cheapest profitable business to start as a Nigerian student to make money;

  1. Conduct Academic Tutorial
  2. Become a Hair Stylist
  3. Makeup Artistry
  4. Make Snacks and Pasteries
  5. Start a Niche Blog
  6. Freelancing
  7. Become a Writer
  8. Mobile Phone and Electronic Device Charging
  9. Become a Caterer
  10. Laundry and Dry Cleaning Services

Conduct Academic Tutorial

One doesn’t have to be a teacher to teach. Tutoring comes easy to students who are often considered bright.

Tutoring is after-class academic support given to an individual or small group to impart knowledge by a tutor with deep knowledge or defined expertise in a particular field.

Tutoring gives students individualized attention that they don’t get in crowded lecture halls.

To make tutoring a source of income for students in tertiary institutions in Nigeria, one can start by offering free tutorials until you can win the trust and confidence of students in your knowledge and expertise before imposing a fee.

It requires low capital to start as only a classroom/lecture hall, reading materials, and your knowledge is needed.

Students who intend to go into tutoring must be willing to read wide and ahead of their class.

You can’t teach what you don’t know.

This business has all the pros and no cons as it helps students academically.

The more you read wide and broaden your scope of knowledge, the more likely you are to do well in school.

It gives you time freedom and improves your academic performance while making cool cash. It is a win-win situation.

One can also dive into helping students with their assignments and useful reports and research for students embarking on projects or presentations while attaching a fee to your service.

Remember, no knowledge is a waste as you will need all the knowledge you can get to make this business a success.

Become a Hair Stylist

Nigerian hair stylist

A beauty salon deals with cosmetics treatments for men and women. It involves professional hair cutting, dyeing, styling, manicures, pedicures, makeup, and makeovers.

Looking good is good business, they say.

Beauty is an essential industry for young adults as our outward appearance tells a lot about our personality.

Both male and female students can venture into this business opportunity.

Hairdressing is very lucrative for any skilled female student because virtually every female student finds it necessary to make their hair.

The popular saying goes, “The beauty of a woman starts from the hair.” It usually upgrades or downgrades a person’s looks.

Starting requires little to no capital as it only requires everyday grooming materials like Combs and clippers.

You can open a salon in your hostel and make samples of your craft using your friends and close associates.

It should be your way of advertising to strangers. You shouldn’t be concerned about money initially because it is just the foundation stage of your business and involves sacrifice and patience.

Makeup Artistry

woman with pink lipstick

Makeup artistry is another branch of the beauty industry students can venture into.

Occasions and events are held almost daily, and the celebrants and guests must look good. Most will like to hire a makeup artist on special occasions to touch up on their looks.

One will no doubt have to master the art and build a wide network to attain maximum success.

The skills can be learned online using YouTube and free websites and perfected through regular practice and consulting experts in the field.

Make Snacks and Pasteries

Baked treats on tray

A snack is a light meal eaten between meals.

Lots of students in tertiary institutions survive on snacks.

You can always find them snacking on their way to lecture, in lecture halls, and even in their hostel rooms, while waiting for their food to be ready.

Students looking to earn extra income can venture into making pastries, also known as small chops.

The skill of making pastries is quite easy to obtain as one can easily look onto Google or watch YouTube videos and try out different recipes.

Soon enough, you will find your signature recipe.

  • It is not capital intensive.
  • It doesn’t require much to start.
  • One can start with as little as possible and gradually grow it.

It is one business you can’t go wrong doing.

Everyone eats. Everyone craves some sugar from time to time.

The school is full of people, and everyone is your potential customer.

Start a Niche Blog

student studying with a laptop and book

Have you ever dreamed of not having to be physically present for a job before earning some money?

Do you dream of a world where you don’t have to get up from your bed before you make money?

I’m sure you have!

What if I tell you there’s a way?

Let me introduce you to the wondrous world of Blogging, freelancing, and writing.

Blogging is as simple as obtaining a website and publishing original content.

The contents can range from lifestyle to celebrity gossip, music, and campus life.

You can even start a blog about things happening in your life.

Anything you deem interesting, unique, and feel others will want to read about.

Tech-savvy students can buy a domain name and build the website themselves.

Those who are not very good with tech can create accounts on sites like WordPress, which simplifies web design and publishing.

Remember, you should seek contents that can’t be found elsewhere. It could be the difference between the success and failure of your blog.


A man and a woman looking at a computer screen

Freelancing is using your skills to work with multiple clients and take on various assignments without committing.

Freelancers can source jobs on various websites made just for the purpose. Some of these websites are Fiverr, Upwork, LinkedIn, etc.

Freelancing enables remote working. It also gives one flexible working hours. One can also control the amount of workload one take on.

All these attributes make it one of the best ventures a student can key into. One can easily work this business around their academic calendar.

Become a Writer

A student with a laptop

We all know what writing is, but how this can be developed into a skill and monetized is probably the unspoken question on your lips.

If you plan to venture into monetizing your writing, you must brush up on your vocabulary.

It is very important as no one will be willing to pay for basic write-ups.

You can look into writing for various blogs, content writing for social media pages, and writing articles for publication.

It is a sure way for students who want to make some money on the side.

The downside to freelancing is its inconsistency of it.

Jobs are not always readily available for beginners. You will have to build a strong network to have more access to job offers.

Mobile Phone and Electronic Device Charging

Nigerian student studying

Almost every student in tertiary institutions in Nigeria uses mobile and electronic devices to make trading and learn lucrative and viable business opportunities.

Phones, laptops, chargers, earpieces, etc., constitute a major part of the lives of young adults.

In prolonged power outages, you can also open a charging center where students can charge their devices upon paying a fee.

This business can be challenging, especially in sourcing for capital to buy the accessories and the generator needed to start the phone/laptop charging business.

But you can start by saving some of your allowance as capital.

Become a Caterer

Nigerian event ceremony

It is always a bother to come back to the hostel and cook after a tedious day of school work. It is no secret that many students patronize fast food restaurants on campus.

Imagine if there was a fast food vendor right in the hostel?

Students won’t need to go out of their hostel to order food.

It will be a dream come true for many.

One can venture into this business easily; it is easy to start and doesn’t require much capital.

You can cook the food in the morning, before the lecture, and send it out to students who place an order.

You can extend your services to those outside the campus by offering home deliveries, catering for events, etc.

It gives you time freedom and doesn’t disturb your academic pursuit.

Laundry and Dry Cleaning Services

clothes for sale

Do you ever feel too tired to wash your clothes after rigorous classes?

Well, we’ve all been there before. It is where you come in as a smart student or businessman.

Washing, sorting, and ironing clothes all embody laundry. It is a good business idea because it requires little skill or capital.

You can start this business in the hostel or your lodge by meeting your coursemates, friends, and associates to help do their laundry in exchange for money.

It is very important to have a side hustle nowadays. It helps a lot.

Aside from providing extra income, it helps you prepare for the real world outside the campus.

There is no guarantee of you securing your dream job after graduation.

The country’s state keeps getting worse, and there are many graduates out there, on the streets, struggling.

To avoid this same fate, you should start something new.

Your side hustle today might become your Major stream of income tomorrow.

Let me know in the comment if you have ny questions or need further clarifications.

I would love to hear from you.

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