6 Lucrative Business Ideas for Students in Nigeria

It’s not news that students are constantly in search of side hustles and small gigs they can do from time to time while in school.

The labour market might seem unrewarding for students owing to the fact that many roles are somewhat permanent and require graduates with several years of experience.

However, students can get hands-on industry experience and skills which is a win for both their resumes and their pockets.

In the search for business ideas to engage in as a student, considering how much that business affects your studying is key. Not to worry, I’ve curated the hottest business ideas you can try that won’t leave gaping holes in your GPA.

Lucrative business ideas for students

In this article, I’ll share 6 most lucrative business ideas that students in Nigeria can always try. They have been tested extensively and a lot of students are living off these ideas.

2023 Lucrative Business Ideas for Students in Nigeria

1. Blogging

Blogging offers a great opportunity to earn cash, create a community of followers that you can convert to a customer base if you begin producing or selling products, and express your creativity in writing and content creation. Setting up a blog is quite simple. Blogger and WordPress are two of the most popular CMS (Content Management Systems) that you can use.

To start out, you’ll need to pick a niche –passion is key but be free to challenge yourself even with niches you’re less familiar with.

Bloggers earn from advertising, creating sponsored contents and affiliate marketing.

All you need is your computer or smartphone, internet connection and the will to dive in and be successful.

2. Social Media Management and/or Influencing

Turn your followers and engagements to cash!!!

Very similar to blogging, managing social media accounts has seen a progressive increase as a lot of businesses and individuals are leveraging social media platforms.

As a social media manager, you handle posts, accrue followers and keep a healthy engagement on behalf of the true owner of the account.

Social media influencing is a bit different. It’s all about promoting businesses, products and services via social media channels.

An influencer leverages what is called “influencer marketing” to promote businesses, products and services. Basically, an influencer has expert level of knowledge or social influence in their field.

3. E-commerce Reselling

E-commerce reselling is on a rise among university students. It’s a low capital business idea that can keep you up an running while managing time commitments as a student.

You can buy products (clothes, shoes, bags, etc) from e-commerce sites like AliExpress, Jumia and Konga, and resell them to students and others.

I’ve noticed cases where students add home delivery to increase the perks of the service they provide.

4. Graphics Design

You have creative skills in graphics design? Don’t let that go to waste!

Tons of businesses require logos, fliers, banners and other branding elements to reach a wider audience in visual advertisement.

You can create intuitive designs and get paid from the comfort of your dorm room. Freelancer, Upwork and Fiverr are some cool platforms to find people willing to pay for your skills.

5. Software and Web Development

With your tech skills, you can build websites and applications for businesses and individuals.

Software and website developers are in constant demand so there’s a big world of opportunities out there that you can tap from.

6. Freelance Writing

Here’s my favourite because I’ve tried it and it sure works! You know how to creatively put words together in blogs, SEO articles, website contents, etc?

If you answered yes, freelance writing is a go-to. You don’t need to be a pro to start out and you certainly don’t need an office space with a huge capital –just your smartphone and a reliable internet connection will do.

I’ve worked on freelance writing gigs on Freelancer –unlike other platforms, it’s beginner friendly. Other platforms to find freelance writing jobs include PeoplePerHour, Problogger, Fiverr and Upwork.

There you have them, 6 lucrative business ideas for students in Nigeria to try with little or no capital.

Although these businesses don’t require large capital to start up, they require progressive growth and optimization so you stay on track with new trends and excel in fields considered difficult.

Are you a Nigerian student? Is there any lucrative business idea that didn’t make it on the list? Let me know in the comment section.

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