12 Unique Business Ideas For Nigerian Students Start with 50k

There are many business ideas that can help Nigerian students make extra money with as little as 50k. These businesses can provide a helpful side income while you’re in school.

Being a Nigerian student without strong financial support can be tough. Often, undergraduates at universities, polytechnics, or colleges of education get tired of relying on weekly or monthly allowances from parents or guardians, which usually aren’t enough to cover all expenses.

There are always some personal expenses you can’t ask others to cover. Hence, the average Nigerian student needs an extra source of income to supplement what they already have.

Well, we will introduce you to 12 unique business ideas Nigerian students can start with 50k while running their program.

Why Nigerian Students Should Engage in Business
How to Balance Academics and Business as a Nigerian Student
12 Unique Business to Start with 50k as a Student
Small Business Ideas for Girl Students in Nigeria
Online Business Ideas for Nigerian Students
Startup Business Ideas for Nigerian Students
FAQ
Conclusion
References
Recommendations

Why Nigerian Students Should Engage in Business

Starting a business as a Nigerian student has many benefits that can boost your personal and academic development. They include:

It provides extra income to support your needs, reducing financial dependence and helping you build a brighter future.
It lays the groundwork for a future career. Many successful businesses began as campus side hustles.
It offers real-world business experience, making it easier to start your own venture after graduation.
It enhances your reputation on campus, making you a role model for others.

How to Balance Academics and Business as a Nigerian Student

Even as Nigerian students with business ideas to start with 50k or more, there are certain challenges you’ll face.

You will have to balance academic responsibilities, like attending classes, completing assignments, and studying for exams, with running a business that requires your time and energy. This can be very overwhelming.

Here are things to do to balance your academics and business as a Nigerian student.

#1. Time Management

You will need to master time management. With only so many hours in a day, it’s essential to prioritize your tasks and allocate time wisely.

For instance, you can try to create a schedule that includes time for classes, business tasks, studying, and breaks.

By sticking to this schedule, you ensure that both your academic and business commitments get the attention they deserve.

#2. Set Realistic Goals

You should set realistic goals for both your business and studies. Understand that your time and resources are limited, so you may not be able to excel in both areas at the same time.

For instance, if you have a major exam coming up, you might need to reduce the time you spend on your business temporarily to focus on studying.

Setting achievable goals helps you avoid burnout and ensures you don’t neglect either aspect of your life.

#3. Delegate and Outsource

Recognize when you need help with your business. You can decide to delegate tasks to others or outsource them to free up your time.

You could hire a virtual assistant for administrative tasks or you make use of online tools to automate processes. This will help reduce your workload so you can focus on tasks that require your expertise.

#4. Build a Support Network

As a student entrepreneur, you have to surround yourself with a supportive network. Seek out like-minded individuals who understand your challenges and can offer advice and support.

You can also join entrepreneurship clubs, attend networking events, or connect with other student entrepreneurs online. This network can provide valuable insights and connections to help you balance school and business.

#5. Stay Organized and Prioritize

Ensure you stay organized to manage both school and business effectively. Use calendars, to-do lists, or productivity apps to keep track of deadlines, assignments, and business tasks.

Additionally, prioritize your tasks based on urgency and importance. Staying organized and prioritizing tasks ensures nothing falls through the cracks, and you make the most of your time.

12 Unique Business to Start with 50k as a Student

The following are some business ideas for Nigerian students who want to start with 50k or less and make extra cash while in school without depending on their parents or guardians.

#1. Graphic Design

One of the business ideas Nigerian students can start with 50k is graphic design.

At school, different departments, associations, and the student union often plan events and activities for students. To promote these events, they need materials like leaflets, posters, and banners. This is a great opportunity for you to make extra money by offering graphic design services.

By learning programs like Photoshop, Illustrator, and Corel Draw, you can turn your skills into a profitable side hustle. If you take it seriously, this could even become your main income source after graduation.

It doesn’t take long to get the hang of graphic design—within three months and with a learning fee of 50k or even less, you can start creating impressive designs.

Graphic design is always in demand, making it a valuable skill to have. It’s a fantastic way to support yourself both during your studies and after you graduate.

#2. Photography

Starting a photography business on campus is a great way to earn money because students love taking pictures.

Despite the prevalence of smartphones with cameras, there’s still a high demand for professional photography services. Students need passport photos for registration and love having beautiful pictures to post on social media like Facebook, Instagram, and Snapchat.

As you gain experience, you’ll be asked to cover important campus events. Plus, other students might book photo sessions for special occasions like graduation, convocation, or birthdays. All you need is a small professional camera to get started.

#3. Cake Making

Another business idea Nigerian students can start with 50k is cake making. Learning to bake and decorate cakes can be a great business on campus. Students love to celebrate, and cakes are a big part of these celebrations.

Target events like Valentine’s Day, birthdays, anniversaries, dinners, convocations, and matriculations. You don’t need to rent a space; you can bake even if you live in a hostel. If your cakes taste good and are well-packaged, you can sell them at a good price and make some extra cash.

If you don’t know how to bake, you can take a short course and become proficient in a few months. You can also decide to learn from a professional. It won’t cost you more than 50k.

#4. Hair Styling

Hair styling, or hair making, is one of the excellent business idea for Nigerian students, even if you don’t have up to 50k. You can make extra money in school with this business.

If you learn how to style hair well, you’ll always have customers. Many female students frequently get their hair done, and all you need is a comb and hair cream, which are inexpensive. If you’re good at it, you’ll make good money without it interfering with your studies.

#5. Barbing

Barbing isn’t just for men anymore; even some women prefer low cuts to look trendy. To succeed, you need creativity and business knowledge.

With both male and female students as potential clients, you can grow your business through word-of-mouth. You can either rent a space or make house calls, starting with minimal investment.

#6. Selling of Wares

Selling clothes and accessories on campus is a lucrative business. Both male and female students love to dress well and often buy new clothes to avoid repeating outfits. Items like underwear, tops, shirts, blouses, trousers, bags, and footwear are always in demand.

Students love to keep up with fashion trends and often need new outfits for various social events like parties, dinners, or just a casual day out.

By selling these items, you can earn a steady income and make a name for yourself as the go-to person for stylish and affordable clothing. Plus, you can start small and grow your inventory as your business gains popularity.

#7. Laundry Services

Many students find doing laundry stressful and time-consuming, so they’re willing to pay for laundry services. This can be a great way to make extra money. Don’t be ashamed of it—it’s a valuable service that puts food on your table.

You can even hire someone to help when you’re busy with classes. Charge for washing and ironing separately to maximize your earnings.

With consistent demand, this business can quickly become very profitable. You might start by offering services to your roommates and neighbors and expand as word spreads. Having a flexible schedule allows you to balance this business with your academic responsibilities easily.

#8. Comedy

If you can entertain and make people laugh, you have a valuable talent. There are many social events on campus, including those organized by religious groups, that often need comedians. You’ll not only earn money but also gain popularity.

This business is lucrative, fits well with your academic schedule since most events are on weekends, and can even lead to opportunities after graduation. Performing at various events helps you build a fan base and enhance your public speaking skills.

You can also use social media to promote your comedy and reach a wider audience. Consistent performances can lead to larger gigs and even collaborations with other entertainers.

#9. Typing And Printing

Many students need their projects, papers, proposals, and assignments typed and printed. Offering these services can guarantee daily income.

You don’t need a dedicated space; you can operate from your room with just a laptop and a printer or photocopier, starting with a small investment. This business can be time-consuming but is very rewarding.

You can also offer additional services like editing and proofreading to add value for your clients. As your reputation grows, you might find yourself handling large volumes of work, especially during exam periods and project submission deadlines. It’s a steady business with consistent demand, making it a reliable source of income.

#10. Sales of Stationery

Selling stationery like books, pencils, pens, files, and calculators meets the essential needs of students. While not the most lucrative, it provides a steady income.

It’s also inexpensive to start, making it a practical business idea either you live on or off campus. You can set up a small shop in your dorm or sell directly to students during classes and events. The convenience you offer can make you a popular choice among your peers.

Additionally, you can expand your product range to include other school supplies like notebooks, highlighters, and binders. By providing essential items, you ensure a constant flow of customers and a steady stream of income.

#11. Tutorials

Organizing tutorials and training sessions is a proven way for students to earn money. If you’re good at a particular subject or have a skill like software development, you can offer paid sessions to classmates and other students. This not only generates extra cash but also helps you master your subject or skill.

Start by identifying areas where students need help and market your services effectively. You can hold group sessions or one-on-one tutoring based on demand.

Over time, you can build a reputation as a knowledgeable and reliable tutor, attracting more students. This business not only helps you financially but also enhances your own understanding and expertise.

#12. Blogging

Blogging is a great way to earn extra income online. Choose a niche with high search traffic and something you’re passionate about.

Create quality content to attract readers. Blogging can be tricky, but with consistency and dedication, it can become very rewarding.

You won’t make money immediately; it typically takes about a year. Income can come from Google AdSense, selling ad space, consulting, affiliate marketing, and selling digital products.

Consistent blogging helps build your audience and establishes you as an authority in your chosen niche. Engage with your readers through comments and social media to keep them coming back. With time, your blog can become a significant source of passive income.

Small Business Ideas for Girl Students in Nigeria

Many girl students in Nigeria have the potential to start small businesses while studying. These girls don’t need much to start such businesses.

You can decide to start selling beauty and skincare products. One major idea is to make and sell organic creams, soaps, and oils. You can sell these to your coursemates or those living in your lodge.

Another option is selling handmade accessories like beads, earrings, and bracelets. This requires creativity and a small initial investment. With less than 50k, you can start this business.

Also, if you are academically sound, you can venture into online tutoring. You will use your academic strengths to teach younger students in subjects like Mathematics or English. Aside doing it online, some parents who live around may want you to teach their kids.

Another very common small business that girl students in Nigeria do is selling of snacks like puff-puff, chin chin, or small chops. If you enjoy baking, consider making and selling cakes and pastries.

Additionally, selling second-hand clothes or “Okrika” is popular. What you just need is to buy quality items in bulk and sell them at a profit. These businesses can thrive with dedication and hard work.

In summary, here are some business ideas for girl students in Nigeria:

Beauty and skincare products
Handmade accessories
Online tutoring
Snacks and small chops
Cakes and pastries
Second-hand clothes (Okrika)

Online Business Ideas for Nigerian Students

There are several online business ideas Nigerian students can do to earn extra income and gain useful skills.

One promising idea is starting a blog or YouTube channel. We have seen several Nigerian students share their knowledge, experiences, and talents on topics like education, fashion, or lifestyle on YouTube. With consistent content, you can attract a large audience and make money through ads and sponsorships.

Another option is becoming a freelance writer or graphic designer. Many businesses need content and designs, and you can offer your services on platforms like Upwork or Fiverr. If you enjoy social media, consider managing social media accounts for small businesses. Help them grow their online presence and engage with their customers.

Additionally, you can sell products online through platforms like Jumia or Konga. Source items locally or create your own, and use these platforms to reach a larger audience.

Lastly, you can still consider doing online tutoring. It is a great way to use your academic strengths to teach others and earn money.

Briefly, here are some online business ideas Nigerian students can start:

Blogging or YouTube channel
Freelance writing
Graphic design
Social media management
Selling products on Jumia or Konga
Online tutoring

Startup Business Ideas for Nigerian Students

Nigerian students can explore various startup business ideas to create income and gain entrepreneurial skills.

One exciting idea is launching a tech startup. If you have coding skills, you can develop mobile apps or software solutions that solve everyday problems. This can be a profitable venture with the right innovation and dedication.

Another great option is opening a small restaurant or food delivery service. As long as you can can cook popular local dishes, just deliver them to busy professionals or fellow students. This business can start small and grow through word of mouth and online marketing. A popular example is the Item7 in Ilorin. The owner started while schooling in University of Ilorin several years ago. Now, it is very popular and has spread beyond Ilorin.

You can also consider starting an agricultural business, such as a small poultry or fish farm. Agriculture remains a vital sector in Nigeria, and with the right approach, it can be very profitable.

Additionally, you can venture into fashion design. Create unique clothing or accessories and sell them online or at local markets.

Lastly, think about starting a logistics company. With the increasing need for reliable delivery services, a logistics business can thrive by helping businesses and individuals transport goods efficiently.

FAQ

Can I Start a Clothing business with 50k?

Yes, you can choose any item to sell such as bras, panties, second-hand/ thrift clothes (commonly called okrika), bags, etc. There is always a demand for these items and your first buy can be less than ₦50,000.

How do I create a unique business idea as a Nigerian student?

To create a unique business idea, identify a niche with an unmet consumer need. This could be an area you’re passionate about or have experience in. Offer distinctive products or services that stand out by providing novel solutions or through unique branding that resonates with your target audience. For instance, if you’re a vegan baker who regularly shares recipes and notice your community lacks a vegan bakery, this could be a unique business idea.

What is the best business idea for Nigerian Students with 50k?

The business venture that most suits your interests, talents, and schedule is the ideal one to pursue while still a Nigerian student. You can provide your fellow students, who are your built-in audience, with a variety of services. Print-on-demand sales, maker enterprises, and on-campus tech services are all profitable company ideas with minimal startup expenditures.

Conclusion

It’s a good idea to launch a small business while attending school in Nigeria since it will help you earn additional money while you’re a student. It will also provide the groundwork for your future profession once you graduate.

We hope you were able to get some business ideas Nigerian students can try out with 50k. It is crucial to remember that the business ideas discussed here are not plans for becoming wealthy quickly.

Even though the benefits might not become apparent right away, success is certain if you maintain your concentration and keep becoming better. To launch your firm, you can raise 50k or less from friends and relatives.

But make sure you thoroughly analyze your market before launching your company. It’s necessary that you begin small and work your way up.