What Business Can I Start With 1 to 2 Million Naira in Nigeria?
Nigeria is a great place to run a business, whether small scale or large scale, and with 1 to 2 million naira, you can actually invest into certain businesses that will bring about great dividends for you in the long-run so far you can make your findings properly.
And if you can do your survey for the right location and other necessary factors that need to be put into consideration prior to investing with such amounts of money, survival is guaranteed.
Business owners take advantage of the favorable climatic conditions we’re blessed with in Nigeria to set up certain businesses such as transportation, fishing and fishery, importation, exportation, and many other similar businesses in Nigeria.
To make the most out of a business, you must find out what your passion is all about. You must really be sure that you’re passionate about running a personal business lest you run into losses in the short-run. This is what business generally entails. Passion is greatly important. Now that you’ve decided to go into business, let’s discuss what you can do with one to two million naira and earn substantial profits under the following sub-headings.
- Business one can start with one million naira in Nigeria
- How to invest with 2 million naira
- What business can I do with 5 million naira?
- What business can I do with 3 million naira?
Business One Can Start with One Million Naira in Nigeria
If you have up to a million naira in account and you’re planning to invest this substantial amount in a business right here in Nigeria, then let me advise that you should go into businesses like importation, exportation, flour mills depot, cement depot, car dealership, Motor spare parts dealership, provision and foodstuff distributorship and lots more depending on your passion or interest.
For example, if you’re venturing into importation, gone are the days when you would have to travel to China, US, Australia or any other country abroad before you can import products. Nowadays, we have platforms such as AliBaba, and AliExpress that make it possible for you to import items and get them delivered to your doorsteps even without incurring shipping costs at all.
So, investing with up to one million naira would be sufficient to start such a business like importation, exportation, distributorship and other similar businesses in Nigeria.
How to Invest with 2 Million Naira
Likewise, if you have up to two million naira in bank account, you have a great potential to start a capital business in Nigeria earning a great dividend in the long-run.
With two million naira in account, you can invest into businesses like recharge card dealership which allow you to represent the mobile telecommunication networks as a dealer for distributing or selling recharge cards and data bundles to subscribers/customers across the nation. This is a capital business that has a great profit potential and will never fade for as long as people continue making calls, receiving calls, sending and receiving text messages.
Recharge card dealership business is a lucrative business in Nigeria which does not give room to small scale enterprises to participate at all. It’s not the kind of a business anyone can start with #200000, #300000 or with such little capitals at all. Thus, this allows large-scale business entrepreneurs to solely invest with their money and distribute to small-scale entrepreneurs who easily reach out to final consumers in the streets.
What Business Can I Do With 5 Million Naira?
With 5 million naira in account, you can actually go into a big investment and make huge profits. Aside from starting a business using this money, you can also find an investment company that will allow you to earn a certain percentage as interest monthly for saving your money with them.
A good example of such investment companies is an insurance company like the Mutual Benefit Insurance Company whereby you’ll be given up to a 9% compound interest on every sum insured with them. You’ll also have the opportunity to withdraw your interest yearly supposing you’re investing your money with them for a certain number of years.
Aside from investing with the investment companies, you can also invest into nylon production. Nylon production is really a capital business in the sense that you’ll have to first order and install some powerful machines that will do the cutting, sealing, packing and the rest. These machines really cost a lot of money though, once you can successfully possess and install them, they become yours forever and you’ll continue producing with them for as long as you live on the planet earth.
What Business Can I Do With 3 Million Naira?
Do you have up to 3 million naira right in your bank account and you’re looking for what to invest your money with in Nigeria that will bring about a great profitability in the short-run? Don’t hesitate to go into publishing business so far you have passion for publications.
As a book publisher in Nigeria producing Mathematics publications for WAEC students, I’ve earned a great dividend from doing this over the past few years and I still continue producing despite the increase in the cost of papers and others needed for publishing books in Nigeria.
The business is highly promising and the profit is really worth it so far you’re passionate about doing it. Even if you can’t write by yourself, you can hire writers to write stories for you which sell like hot cakes here in Nigeria.
According to the director of a book publishing company in Nigeria, “I wrote a story book and distributed across the northern states in Nigeria”, he stated in an interview. He further disclosed to the press that he stepped up quickly and established his own publishing firm as a result of the success he achieved from his initial story book publications. What a captivating story about a highly-successful publisher in Nigeria!
The impression I got led me also into publishing and I’ve made hundreds of thousands from this business.
So, if you’re investing into the publication business with your 3 million naira, then know that you’re really going very large. And you’ll surely earn large profits with it as well. The higher your capital investment in publication business, the higher your profit potential! What is certain is that you can’t lose nor fail so far you can produce what is trending in the market or what parents are always in need of for their children. It’s a promising business.