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

What business can I start with 5K as a student in Nigeria? What can I invest money to help me as a student in Nigeria. Are there what I can do as a student to get money?

Many students in college or university attend a 4-year course in order to get a specific certificate or degree. However, learning business skills during one’s training is an important step towards building employable skills and creating bankable marketable knowledge.

This article will show you how a student can launch his/her own business with barely any capital by using the education they have already acquired as their selling point. I hope this article gives you some very helpful ideas on how to start your own business soon.

Nigeria is a large country with a lack of excellent leaders, which has resulted in a total cessation of young financial empowerment, as well as a shortage of decent-paying government employment, which has increased poverty in the country by 20%.

We have discovered that about 70% of Nigerians desire to establish their own businesses owing to a shortage of jobs and youth empowerment. We have compiled a list of small companies to start in Nigeria with N5,000.

We have seen that obtaining a loan is not an easy procedure if you do not have a business or something that may serve as collateral for you. As a result, it is nearly difficult for aspiring entrepreneurs to obtain a loan of sufficient size to create a typical firm at the outset.

This list of businesses can assist you in getting started. All of the business ideas featured in this post may be started with as little as 5000 Naira.

Remember that having something to do is vastly preferable to begging, regardless of how tiny your firm is. There are several businesses that may be started with N5,000, but I will just list a few of them below that I believe are more profitable in Nigeria.

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

Read Also: Part-time Business ideas for students in Nigeria

1. Cloths in London (OKRIKA)

Okrika are used clothing imported from other nations. About 60% of Nigerians wore okrika, but you wouldn’t know since they were first-rate okrika. The truth is that if you mix okrika with new clothing, you won’t be able to tell them apart. Many boutiques in Nigeria stock okrika and offer it at a premium price.

Starting this company is a wonderful option for inhabitants of Lagos and other populous areas in Nigeria. This is the most popular company in Lagos that young people are starting, and it is making a lot of money. 

The company does not require a shop to begin with, so if you do not have the funds, do not worry. If you’ve gone to Lagos or reside there, you should realize why you don’t need a shop to start an okrika company.

People in this industry may be found in prominent locations of Lagos, such as railroads. They just place the cloths on top of a large nylon or table. This business does not even need a whole day and will not interfere with your other everyday activities. The best time to start this business is in the evening, when employees are returning from work (4:30pm-7:30pm).

Which Nigerian firm is willing to offer such a compensation to their employees these days? Take note that in order to thrive in this industry, you must put an end to any act of shame in yourself.

You must act intelligently while calling consumers, yelling, and so forth. You must accept it as a way of survival; because you are not stealing, you have nothing to be embarrassed of. You don’t need to be asking what business can i start with 5k in nigeria as a student again

2. The pure water/bottle water industry

If you live in a densely crowded area like Lagos, a clean water business may be a suitable choice for you; this business does not require a large amount of start-up money. You may start this company with as little as 3000 Naira to 5000 Naira.

You are not need to advertise yourself. All you have to do is meet with the persons selling clean water/table water along the road and tell them you are willing to sell to them at a cheaper price than they are now paying.

You may also hire those jobless beggars in your neighborhood to hawk this sachet clean water for you, and for every bag sold, they would receive N50 naira, while you will retain the rest. Provide for their lunch and attempt to be kind to them by getting them a hocking dish.

Table waters and canned beverages, such as team drinks, can be included. If God is on your side, those hawkers will sell more than 20 bags of clean water every day.

You may hire up to ten or fifteen hawkers to sell for you in various locations across Lagos; you can earn up to N3000 per day from this business, which is far superior to begging or being unemployed.

At the moment, the wholesale price of clean water is N80k per bag. You don’t need to be asking what business can i start with 5k in nigeria as a student again

3. Purchasing and reselling

This is one of the businesses that many people in Nigeria are unaware of. There are only a few individuals in this industry, but they are doing well. This business is more profitable than you would imagine, and the best thing is that you do not have to work in a factory.

There is no need for a store; this business requires a start-up capital of up to 5,000 Naira or more, depending on the goods you will be dealing with.

So what business can i start with 5k in Nigeria? Purchase and sell is the answer.

This business is the process of selecting goods to acquire online and then resell them online. The successful aspect of this company is purchasing previously owned homes that you can resell for a profit. If you want to make a lot of money in this company, you should focus on phones and laptops.

The truth is that there are several factors that lead people to sell their existing mobile phones or computers, some of which are urgent financial demands to address other concerns that are more important to them than their property. As a result, they will list the home for an extremely low price in order to find a buyer quickly.

All you have to do is meet with the vendor and confirm that the item works flawlessly and that the property belongs to him/her. Purchase an item and re-post it for a larger profit of N5,000.

Olx.com, jiji.com, and efritin.com are the finest places to do this type of business.

You will be able to sell the item as quickly as the same day or the next.

Continue doing this until you are able to rent your own shop. It’s a fantastic business, and some clever entrepreneurs are making a lot of money with it right now, because it’s still relatively new in Nigeria. You don’t need to be asking what business can i start with 5k in nigeria as a student again

4. Noodle making business – what business can i start with 5k in nigeria

This business does not take a large investment to get started; you can start with as little as N5,000 to N8,500, depending on how you want it to appear. This is an act of creating noodles, utilizing bread and egg in the preparation of messiah; it does not have to look like that of the Hausa men in your area.

You may build it round with planks or plastics cover then wrap the body up with wrappers, ta-poling, or whatever will make it acceptable and extremely clean. You may accomplish this business in advance as opposed to employing take-out parks.

You may also supply that company’s office personnel in your neighborhood during their lunch break. You’ll get their contact information soon, and they’ll call you to deliver them something. This company is medium-level profitable if you give it time and attempt to execute it in a modern style; you may earn N4k to N5k per day from it.

Some people dismiss this business, while others make a fortune from it. I know someone who runs this company, and his shop is constantly full since he did it ahead of time, selling noodles for 500 Naira each plate, which includes chicken and any soft drink of someone’s choosing. You don’t need to be asking what business can i start with 5k in nigeria as a student again

Is there a business I can start with 5k in Nigeria?

Yes! There are many opportunities to Excell in business in Nigeria with as little as #5k. Like the businesses mentioned above, you can do those business and make a living. One thing with this business you can start as little as 5000 naira is that they is huge market for them. For example, the okirika business, since many Nigerians are average earners, they can not always afford new clothes from Italy or Dubai, so they mainly patronize the okirika sellers.

Can I start a business while in school?

As the Nigerian Universities and polytechnics are organized, you can be a student and still start a profitable business. If you are already in school, you can notice some businesses within the school, most of them are owned by students like you, so don’t want time and start something. So can I start a business with 5k in Nigeria as a student? You can and will succeed.