What business can I start with 5k as a student in Nigeria?

Labourers work in silhouette with the sun in the background - businesses to start with 5k in Nigeria

Due to the tremendous devaluation of the Naira, which is no longer one of Africa's most valuable currencies, people are more anxious than ever for suggestions on the cheapest businesses to start in Nigeria. But is 5,000 NGN too low? This article lists sixteen businesses you can start with 5k as a student in Nigeria. 

1. Make money online

The Internet, social media, and social networking sites are the best businesses for a Nigerian student to start with 5k. The Internet is an open marketing environment due to its simplicity, which facilitates the promotion of many sorts of items and fresh ideas for young people.

The most essential of these sites is Facebook, which includes many individuals from all over the globe, making it simple to promote things via it and launch your marketing project using it.

Choose one of these 16 proven strategies and start making money online in Nigeria

2. Maintaining and repairing mobile devices

Learning how to repair mobile phones is a top business to start with 5k as a student in Nigeria; it is not difficult if you are motivated and patient.

You may purchase second-hand hardware or components and stock up, but as a firm with a gross starting capital of 5k NGN or less, you can purchase hardware parts based on consumer demands.

As a student, you may view YouTube instructional videos demonstrating how to execute different sorts of repairs.

Naturally, you may begin with just one specialisation by specialising in applying the cover and glass sticker on other students' mobile phones. 

The smartphone industry is one of the largest in size and reach, and its problems and the support, maintenance, and accessory services that may be supplied are almost unlimited.

Therefore, this enterprise is considered a successful and prospective business to start with 5k as a student in Nigeria since it yields substantial income but requires patience.

3. Home-based children's nursery

A home children's nursery is a conventional business to start with 5k in Nigeria. This initiative for women is a resounding success since any mother can naturally take care of her children, but if the mother belongs to the working class, she must find child care.

For security considerations, this is where you come in, as you care for nurseries, ideally at home.

In this project, you may utilise an interior room as a nursery for children, defining the needed quantity and age before developing it to become a complete nursery for multiple ages and bringing in several teachers and nannies.

4. Mushroom cultivation at home

Mushrooms are quite popular because of their high protein content, which causes some individuals to substitute them for meat as a source of protein. Consequently, mushroom cultivation is one of the best businesses to start with 5k in Nigeria. 

Mushrooms may be grown in a room if certain climatic parameters are met. The mushrooms are then packaged in bags and sold in markets and supermarkets for a substantial profit.

5. Translation services

The importance of translation in Internet projects has grown to the point where there is no alternative to translating documents, videos, texts, and website material.

The multiplicity of languages in Nigeria makes translation one of the best businesses to start with 5k in Nigeria. Many individuals and businesses want this service, but translation websites have found it difficult to provide a word-for-word translation for obscure languages.

If you are proficient in English in addition to a Nigerian indigenous language, you are fortunate since this area provides several options to launch a profitable enterprise and ensure a high income for less than 5000 NGN capital.

6. Home maintenance

Every house needs maintenance services, whether in the kitchen or bathrooms, or for air conditioning, electricity lines, or painting, among other things. The house maintenance project is a simple business to start with 5k in Nigeria. Still, it takes knowledge to fix all home equipment, including windows, toilets, wood kitchens, and damaged furniture.

7. Ebook

Every day, a large number of new ebooks are published, some of which are wildly popular and generate enormous profits for their authors. This is a fantastic business to start with 5k as a student in Nigeria if you have a knack for writing or previous expertise.

You may begin each day by working on an ebook that you offer as a service, benefits others, and allows you to share your experiences and thoughts.

This small-scale 5k NGN enterprise may create money that may surpass your expectations, particularly if it is well promoted.

8. Offering residential and commercial façade cleaning services

Cleaning flats and stairwells is an excellent business to start with 5k as a student in Nigeria. It is feasible to market and promote the provision of cleaning services for flats and stairwells in apartment complexes where twice-weekly cleaning is performed for good.

9. Create adornments at home

Ladies' accessories may be constructed at home by purchasing lollipop beads, which can be used to create various shapes, colours, and sizes of accessories that women and girls want to wear. This is an age-long proven business to start with 5k as a student in Nigeria. 

10. Upholstery/carpet cleaning

Carpet/upholstery cleaning services are in high demand and pay well; thus, it is a fantastic business to start with 5k as a student in Nigeria. 

Many individuals want their furniture cleaned in a guaranteed, high-quality, and cost-effective manner; all you need to do is incorporate these features into your services, use your backyard, and begin operations.

11. Sports/fitness trainer

You may leverage your expertise and experience in sports training to provide sports training services in addition to nutrition and healthy living counselling.

All you have to do is coach your customers in a series of daily workouts, monitor their eating habits and daily life, and advise them on the optimal times to exercise, the type of food, and the distribution of daily meals. With extreme ease, you have started a business with 5k in Nigeria. 

Naturally, it would help if you were a good example of the quality of your services. You should begin developing a Facebook page where you will share some suggestions and successful experiences to sell yourself as a successful coach. Then begin marketing your services and establishing competitive rates for sports groups.

12. Become a real estate marketing agent online

97% of real estate purchasers use the Internet to look for a house or property, and 41% of buyers locate the home or property they buy online, according to statistics from the National Association of Realtors.

Although these statistics are from the United States, internet real estate marketing is the 12th-best business to start with 5k as a student in Nigeria.

You may start this business by collecting data about unoccupied land and residences, publicising it online, and obtaining a commission.

There are opportunities for everyone in the real estate industry: a vast market, continual demand, and undiscovered gems. 

This may seem a little peculiar! However, you may become a successful real estate broker over the Internet and launch a very lucrative operation with less than 5,000 NGN.

13. Flower and plant nursery

If you are a lover of plants and flowers, launching a plant and flower nursery is the 13th-best business to start with 5k in Nigeria.

Importantly, you may begin it at home, using your garden, balcony, or roof in the absence of a garden and the supply of several small nurseries.

To effectively start this 5k business as a student, you must look for and understand the sorts of plants and their names for each chapter individually, as well as all the information on care, planting, and how to multiply each type of plant you want to trade.

With this knowledge, you can persuade the client, and if the project is successful, you may grow to attract additional consumers and generate substantial revenues.

14. Advertising/affiliate marketing

Building a well-thought-out advertising campaign for enterprises, retailers, and others is getting more difficult with the growth of new digital advertising.

Corporations have grown extremely reliant on third parties such as advertising firms to solve their marketing problems and attract clients, making advertising and affiliate marketing one of the best businesses to start with 5k in Nigeria. 

To launch an advertising initiative, you must possess a high level of marketing expertise.

However, you do not need to be an expert in every part of marketing. Thus, you will also require the assistance of a few specialists and their expertise.

This project relies heavily on the capacity to plan and create effective advertising and promotional tactics, as well as the ability to interact with various sorts of customers.

Also, remember that such a project is common in the Nigerian market, so the market is pretty saturated. 

15. Sell handmade items online

Small ventures, including handicrafts and craftsmanship, are among the best businesses to start with 5k as a student in Nigeria. You may sell your artwork on the Internet if skilled at sketching, sculpting, or creating handcrafted items like jewellery.

You'll need a home workshop, and then you'll need to take professional photographs of your crafts and artwork to list them for online sale. But the total necessary capital will not surpass 5k NGN.

16. Planning events and gatherings

The name of this concept may suggest event planning services or wedding celebrations, but the concept is far more expansive than that. In reality, the success of this endeavour relies on the organisation and execution of several activities.

For instance, you may specialise in organising conferences, meetings, birthday parties, weddings, and huge business events. This is one of the small and successful businesses to start with 5k in Nigeria. 

As a student in Nigeria, all you need is tact and diplomacy while interacting with other consumers. You may specialise in just one sort of event and then build an office for client coordination.