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Top 5 Most Lucrative Businesses In Nigeria For 2023 

The year 2022 is fast folding up and while many are smiling to the bank some are drowning in debt, unemployment and heavy bills to settle. We took the liberty upon ourselves to carefully research and pick out FIVE lucrative businesses you can engage or as the case may be invest in to bring an end to the new Nigerian motto “GOD ABEG O”  in our lives.

In a country where economic deficit and unemployment have become the order of the day, conceptualizing a business idea in Nigeria and subsequently starting it can be likened to a goldmine which offers an opportunity for people to tap into a better livelihood and gives you more freedom, fulfillment of your dreams, financial freedom and can even boost your life span by a whooping 23%. Here are the top five most lucrative businesses for 2023.

Mobile Food Vendor


Food is an important aspect of human existence that is simply inevitable. Regardless of the situation, we must always find something to eat. This, and other reasons are why online food vending and delivery business is an area to tap into. 

Due to work and busy schedules a lot of people find it difficult to cook at home, hence they employ the services of a food vendor. Working-class, students and artisans are some of the examples of people that fall into this category.

While starting a mobile food vendor business, one needs to have learned or possess cooking skills, which will give you a sharp edge over your competitors, as you have many alternatives like eateries, restaurants, and other mobile food vendors racing to have your customers. Your ability to prepare delicious, nice, and affordable meals will set you above your competitors.  You can get this business started with as little as 50,000 naira.

Online advertising firm


Advertising is one thing any business needs and with the social media being the new market place why not jump right into this business I ask? 

This has to be one of the most lucrative and fastest money wells of the new age. In 2018, almost $400 billion was spent on online advertising globally.

From blogs to social media, websites, newspapers, search engines, applications, and games, this industry is taking over the world.

You may fast get wealthy in Nigeria with this business.Setting up an internet advertising agency will allow you to capitalize on this opportunity and generate money quickly and you can achieve this with as little as 100,00 naira.



With the current war going on between Russia and Ukraine, the price of importation and exportation just went up the roof with people finding it very difficult accessing things from their various native lands.

You may think there isn’t much to export in Nigeria, but you would be wrong. Shipping materials are one of Africa’s most profitable foreign trades.

Exporting raw goods to other nations, such as cocoa, green vegetables, vegetable oil, yam, cassava, palm oil, or crude oil, is sure to make you wealthy. Everything cultivated can be exported; these commodities are in high demand outside the country.

Cleaning service


If you used to clean apartments or offices for a daily wage and are good at it, why wouldn’t you start your own business? All you need is staff to work for you or with you and cleaning products. Thus, you can offer cleaning services for office spaces, houses, and apartments. This service doesn’t come cheap these days.

If you want to succeed in this business, you need good organization, planning, and good marketing of your business. With good marketing, many people will hear about the services you offer.

If you want to be recognizable and different, offer some additional services to your customers. The introduction of new services can give you an advantage over the competition.

Data selling


Presently, we live in a digital era where the world has become a global village and everyone needs to be connected to stay informed about what is happening in their immediate environment and the world at large. To this end, purchasing and having a data plan becomes inevitable.

According to a 2021 report from Nigerian Communication Commission (NCC), Nigerians consume an excess of 80,000 terabytes of data every month. 

A data reseller is an individual who purchases data in bulk from VTU platforms and telecommunication companies at a relatively cheap price and then resells it to customers at his or her convenient rate.

There are lots of lucrative businesses you can start up with less than 100.000 naira but you need to do your proper research and analysis of which category best fits you.

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