Lifestyle
5 Low-Capital Businesses To Start In Nigeria
The global economy is deteriorating, and these days, we can no longer rely on readily available jobs. Many people are struggling to land the job of their dreams, despite graduating with good grades.
But that’s where owning a business comes in. The truth is that you can start your own business from scratch with little to no capital.
If you’re wondering which businesses you can start with little capital, here’s an article for you. Read on to find five brilliant business ideas that don’t require too much capital to start in Nigeria.
POS Business
This is one business that has become a mainstay in many parts of Nigeria. The best thing about this business is that you don’t need much to get started: just a POS machine and a small amount of capital. You can choose a location with high foot traffic for this purpose. Most Nigerians prefer using POS vendors over standing in long ATM queues. Hence, the a high demand in this market. Make the most of it today by starting small and scaling your business over time.
Social Media Management and Content Creation
Almost every business wants to be online, but many owners lack the time or skills to manage their pages. If you’re good at creating engaging posts, editing videos, or even just managing comments and DMs, you can offer social media management services.
You only need a smartphone, internet access, and a basic understanding of how different platforms work. As you grow, you can invest in better tools and even take online courses to refine your skills.
Home and Personal Cleaning Services
Cleanliness is a daily need, and many busy professionals are willing to pay for help keeping their homes or offices tidy. You can start small, offering basic cleaning services using the client’s own supplies.
With good word-of-mouth and dedication, you can expand into larger spaces, hire additional staff, or even start selling your own branded cleaning products down the line.
Tutoring or Skills Coaching
If you’re good at a subject (math, English, science) or have a specific skill (sewing, makeup, graphic design), you can offer tutorials. You don’t need a fancy location; you can teach from home, online, or go to your students’ homes.
Parents are always seeking reliable tutors, and young people are constantly looking for ways to upskill. By building a strong reputation, you can grow quickly and even transition to group classes or paid online courses.
Mobile Phone and Laptop Repairs
Gadgets break – a lot. If you have an interest in electronics, you can learn basic repair skills through free YouTube tutorials or by apprenticing informally. Start by helping friends and family fix minor issues; with time, you’ll build a loyal client base.
All you need to start are a few essential tools, which can be bought gradually, and a willingness to learn. Repairs don’t require a shop immediately; you can work from home or offer to go to customers’ homes.
Pulse.ng
Bishop David Oyedepo, the founder of Living Faith Church Worldwide (Winners’ Chapel), has defended his ministry’s practices and origins, asserting that its founding and key decisions, including the acquisition of his private aircraft, were guided by direct divine instructions.
In a video clip circulating on social media, Bishop Oyedepo dismissed any claims of a “co-founder” of the ministry, stating, “This ministry has no co-founder. The first one to hear the mission is this young lady [pointing to his wife],” referring to his wife.
He said that all the founding principles and “12 pillars” of the commission were given to him directly by God, not by men.
The cleric also addressed the often-criticised topic of his private jets, asserting that the decision to acquire them was not his own.
“It was not a discussion. It was God who told me it’s time to get the aircraft,” he said.
Oyedepo also touched on the church’s employment policies, emphasising that the ministry is not run in a loose or informal manner.
He stated that all staff, regardless of their claims of a divine calling, must go through a formal process. “You write an application, you do an interview, you get an employment letter, you respond,” he said.
In conversations about wealth and influence in Africa, Nigeria often takes center stage. While much of the spotlight falls on male billionaires dominating the oil, telecoms, and banking sectors.
A remarkable group of women are shattering glass ceilings and making their mark on the business world. They are the wealthiest women in Nigeria, not only accumulating great fortunes but also inspiring future generations with their drive and ingenuity.
Here are the stories of the top 5 richest women in Nigeria, their backgrounds, business ventures, and the influence they wield.
1. Folorunsho Alakija (Estimated net worth: $1 billion)
Folorunsho Alakija is a true self-made billionaire, defying stereotypes and paving the way for other women in Nigeria. In 2020, Forbes termed Folorunso Alakija the richest woman in Nigeria and “the most powerful woman in Africa.”
She started her career in fashion design, establishing a successful clothing line. However, her entrepreneurial spirit led her to explore new ventures. In the 1990s, Alakija’s company, Famfa Oil, was awarded an oil exploration license, propelling her to the forefront of Nigeria’s oil and gas industry. She is also a philanthropist, supporting education initiatives and empowering women through her foundation.
2. Hajia Bola Shagaya (Estimated net worth: $950 million)
Hajia Bola Shagaya’s journey began in the civil service, working as an auditor for the Central Bank of Nigeria. However, her entrepreneurial spirit soon took hold. She started by importing photographic equipment, laying the foundation for her successful business group, Bolmus Group International.
This diversified conglomerate has interests in oil and gas, real estate, banking, and photography. Shagaya is a prominent figure in Nigerian business circles and a role model for aspiring women entrepreneurs.
3. Daisy Danjuma (Estimated net worth: $900 Million)
Daisy Danjuma is the wife of retired Nigerian General Theophilus Danjuma, a prominent businessman. While details of her early career are limited, she has become a powerful figure in her own right.
Danjuma is the co-founder of Afenmai Austeniti Limited, an oil and gas exploration company. She is also known for her philanthropic work, particularly in the areas of education and healthcare.
4. Fifi Ekanem Ejindu (Estimated net worth: $850 million)
Fifi Ekanem Ejindu is an architect, entrepreneur, and benefactor with familial ties to King James Ekpo Bassey of Cobham Town, Calabar. She ranks among the foremost female architects in Nigeria and established the Starcrest Group of Companies, encompassing real estate development, architectural design, and investment sectors.
Her fortune is estimated at approximately $850 million. In 2013, she was honoured with the African Achievers Award for Lifetime Achievement in Arts and Fashion.
Renowned for her innovative and neo-traditional approach to architecture, Fifi continues to make significant impacts in her field.
5. Stella Okoli (Estimated net worth: $800 million)
Stella Okoli, an industrious pharmacist, business leader, and philanthropist, is the driving force behind Emzor Pharmaceutical Industries LTD. From a humble pharmacy, she has grown her business into a pharmaceutical giant valued at $800 million.
She also holds leadership roles as the Vice President of the Manufacturers Association of Nigeria and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture.
In memory of her son Chike Okoli, who passed away in 2005, she founded the Chike Okoli Foundation in 2006. This charity aims to fight poverty and diseases, with a special focus on preventing cardiovascular diseases. Stella Okoli also manages the Chike Okoli Centre for Entrepreneurial Studies.
Google’s algorithm appears to misrepresent this fact by linking Seyi Tinubu to Senator Oluremi Tinubu, likely due to her high visibility as the First Lady and long-standing senator
Claim: Seyi Tinubu’s biological mother is Bunmi Oshonaike, not Senator Oluremi Tinubu, as incorrectly displayed in some Google search results.
Findings
Seyi Tinubu, the son of Nigeria’s President Bola Ahmed Tinubu, is often inaccurately portrayed in online search results as the biological son of Senator Oluremi Tinubu.
However, reliable sources and historical records clarify that Seyi Tinubu’s biological mother is Bunmi Oshonaike, a former air hostess.
Bunmi Oshonaike was married to Bola Tinubu before his current wife, Senator Oluremi Tinubu. The marriage produced Seyi Tinubu before the union dissolved. Subsequently, Bola Tinubu married Senator Oluremi Tinubu, who became Seyi’s stepmother. While Oluremi Tinubu plays a prominent role in Seyi’s life, particularly given her public profile, she is not his biological mother.
Google’s algorithm appears to misrepresent this fact by linking Seyi Tinubu to Senator Oluremi Tinubu, likely due to her high visibility as the First Lady and long-standing senator. This highlights the need for better contextual accuracy in automated search results to prevent the spread of misinformation.
Final Verdict.
The claim is true: Seyi Tinubu’s biological mother is Bunmi Oshonaike, not Senator Oluremi Tinubu.
Who is Bunmi Oshonaike?
Bunmi Oshonaike, a former air hostess with the defunct Nigeria Airways, is the biological mother of Seyi Tinubu, the son of President Bola Ahmed Tinubu. This fact clarifies the common misconception that Senator Oluremi Tinubu is Seyi Tinubu’s mother. Nigerians are widely aware of this distinction.
Seyi Tinubu has celebrated his biological mother’s birthday publicly, including publishing tributes in national newspapers since 2022, further affirming her role as his mother.
Her ethnicity is Yoruba, originating from the southwestern region of Nigeria. Although unconfirmed sources suggest that she hails from Lagos State, there are no detailed accounts of her biography available online.
Bunmi is 65 years old as of 2024. This calculation is based on her 60th birthday, which was celebrated and published by THISDAY Newspaper on November 11, 2019. This publication confirms her birth year, making her age 65 in 2024
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