Top 10 daily income Businesses in Nigeria to Start in 2024

Most people always seek advice on business that brings daily income in Nigeria. If you’re one of them, this blog post is for you. With how Nigeria is headed, getting ideas for a daily income business is something everybody should have. It at least removes the problem of wondering where your next cash will come from.

The fastest paying daily income businesses in Nigeria today are POS agents, Laundry, Hair salons, Barbing salons, Bolt/Uber driving, and food businesses. These businesses serve the daily needs of Nigerians, resulting in daily income of at least ₦5k

In this blog post, I will show you how to start a daily income business in Nigeria and the estimated costs of running it.

List of Daily Income Business in Nigeria

Here is a list of daily income business in Nigeria you can start depending on your capital and financial strength.

1. POS Agent
2. Laundry business
3. Food business
4. Sewing
5. Provision store
6. Barbing salon
7. Logistics
8. Uber/Bolt Driver
9. Public Transportation
10. Fuel Business

Let’s look at each of these daily income business ideas in Nigeria and how to start them.

Become a POS Agent

Let’s be honest; you saw this one coming already. Almost everybody in Nigeria is rushing into the P.O.S. business today, and for good reasons.  POS business is one of the cheapest daily income businesses to start in Nigeria and is quite popular, too. Today, no one has the time to go to ATMs anymore. The stress of standing in long lines and sometimes having your card swallowed by the machine is not worth the ₦100 or ₦200 a POS agent charges for withdrawal.

With as little as ₦150,000 capital, you can easily open a POS business. It’s also a stress-free business that doesn’t require a lot of tech know-how to perform. All you need is your capital, a POS machine, and a location. 

How does POS Business Work

Step 1 – Acquire a POS Machine: A POS machine costs between ₦15,000 to ₦30,000, depending on the brand you choose. The most credible machines today are Moniepoint and Opay. They rarely have network issues and low agent charges per transaction. Moniepoint cost ₦21,500 to get. 

Step 2 – Pick a spot: It’s more advisable to pair with a store owner. They always have customers coming to their store, and you can build a customer base from there.

Step 3 – Start your business: The business is as simple as this. All you need is your machine, a spot with high foot traffic, and some cash to start your business and effortlessly make between ₦5,000 to ₦15,000 Naira daily income without so much hassle. 

Start a Laundry business

Another cheap business to start in Nigeria is the dry cleaning business. Despite the economic difficulty in Nigeria, people still take their clothes to laundry stores daily or weekly. However, this one requires a bit more skill than a POS business. It’s one business you can start with as low as 500,000 Naira and guarantee a daily income of at least 10,000 to 20,000 Naira every day. 

Requirements to Start a Dry Cleaning Business in Nigeria

1. Generator
2. Ironing bed
3. Industrial pressing iron
4. Washing Machine
5. Stain removers
6. Paper bag
7. Knowledge of how to iron and wash different fabrics.

Some of this equipment, like generators and irons, can easily be what you have at home.

Foood Business

Are you a great cook with a love for cooking? Unlike the rest of us who cannot cook to save our lives, starting a business based on this skill can be just the right daily income source you need in Nigeria.

Restaurants are one of the most necessary businesses in Nigeria that would be around for a while and can be quite easy to start. All you need to start a restaurant now is the ability to cook good food, especially Jollof rice. 

Estimated cost of starting a food business: ₦20,000 to ₦200,000

Sewing

Growing up, we heard of the wealth of tailors during the festive period and how they always had so much work they would fail to deliver your job on time. It’s still the same even now. Tailors who sew both women’s and men’s clothes make a boatload of money on a daily basis. 
If you have this skill, you shouldn’t let it go to waste. All you need is a sewing machine, and you can begin your journey even from your home. 

Estimated cost of starting a sewing business: ₦150,000 to ₦300,000

Provision Store

Provision stores are lucrative now and were so back then. Starting a small provision store can earn you up to ₦5,000 every day. And even turn it into a full-time business. All you need is a store, a wholesaler, and the high-demand foodstuff people buy every day. From bags of pure water to pasta, eggs, and soft drinks.

The best part is, even if you don’t have enough capital to cover it all, a simple cost-saving method would be to start with a single popular product like pure water bags or cold drinks.

Estimated cost of starting a provision store business: ₦250,000 to ₦500,000

Barbing Salon

If you’re good at what you do, you’d get customers, and your male friends can be the first to patronize you. Also, if you’re wondering if this is one of those businesses you can start from home, then yes. It’s one of the cheapest businesses you can do, even cheaper than a POS Business. All you need to start a remote barbing salon is a hair clipper, which costs about ₦15,000.

Logistics

Small online businesses have been constantly rising in Nigeria since 2020, creating the need for dispatch riders. Before, Jumia and most big logistics companies got all the dough in this industry. But now, all you need is the seed capital to buy a dispatch bike, which costs anywhere between ₦90,000 to ₦200,000. Once you have a dispatch bike, you can start delivering products for online businesses.

Estimated cost of running a logistics company: ₦100,000 to ₦300,000

Uber/Bolt

Bolt and Uber driving are by far the most expensive daily income businesses on this list. But it’s definitely worth it. Most bolt owners live extremely comfortably and make about ₦30,000 or more daily, depending on the area and how frequently they run. If you already own a car, becoming a Bolt or Uber driver isn’t far-fetched. But if you don’t, you might have to save up to buy a bolt-accepted car.

Estimated cost of becoming a bolt driver: Free for car owners and ₦2m upwards for non-car owners.

A cost-saving tip for starting a Bolt/uber business is to consider buying a car for hire purchase. That way, even with as little as ₦100k, you can get a car and pay instalmentally over a couple of years.

Public Transportation

If you’re uncomfortable with having to get a car for hire purchase and you don’t have the money to afford a bolt-acceptable car, you can consider starting a public transport business—either a taxi or a minibus. A good minibus costs about ₦1million, and you can find taxi cars for less.

Pro Tip: Unless you intend to run this business yourself, do not take your minibus or taxi to a driver, as they are most likely to ruin it and steal from you. (From an experienced Port Harcourt driver with 14 years of experience)

Fuel Business

Despite fuel stations almost everywhere, people still buy fuel from black market vendors. With as low as ₦10k, you can buy a big gallon of fuel and resell it at night when fuel stations are closed. With the increased price of fuel, you’re sure to make ₦100 to ₦250 profit per liter you sell.

Estimated cost of running a fuel business: ₦10,000

See: Business for Students in Nigeria

Conclusion

Most daily income business in Nigeria revolve around products that people use on a daily basis, from necessities like transportation and food to more leisure stuff like soft drinks—either that or something a high population of people demand, like haircuts.