What are the best Business Ideas For Students in Nigeria 2023? This is a question that seems to never get totally answered as it keeps being repeated year after year.
Every year, new sets of students continually ask themselves this question and in this article, we are going to be giving you some of the best Business Ideas For Students in Nigeria in 2023 taking into consideration our current time frame and the types of skills and businesses that are relevant to the current time frame.
Being a Nigerian Student
Being a student in Nigeria can come with a lot of academic tasks and responsibilities that will demand from you both financially, mentally, and otherwise. Like it is in most advanced countries, students in Nigeria are always trying to do their best to match and tend to these responsibilities the best they can.
It is on this note that Nigerian students are always trying their best to acquire new and relevant skills and start-up small and large-scale businesses that will run by the side to generate an extra source of income that will help them further on the ladder of personal financial independence.
There are several students who had taken this initiative and bold step toward financial freedom and have as of today built a successful brand that is currently serving them and the public way beyond their time in school.
Best Business Ideas For Students in Nigeria 2023
There are several Business Ideas For Students in Nigeria 2023 that Nigerian students can try their hands on and invest in, these businesses are not very time-consuming and demanding. The following businesses have been carefully selected with you in mind:
Students who are highly skilled in dishing out and delivering academic-related information in such a way that it is fully comprehended can consider this line of business. The good thing about tutoring is that it is both less time-consuming and beneficial to the tutor in the sense that the more you tutor others the better you become grounded in those topics.
Many students are confused and can’t seem to find their way around certain courses and topics, now this is where you come in with your skill and make some money.
Tutoring does not demand any capital since it can be done within the university using any of the free lecture halls available at the time you fix the class. This is a good side business that can sustain you while you are in school.
Freelance writing is a business that has become more popular among students in Nigeria, it is gaining a wider acceptance and patronage from students. Most of the students have leveraged freelance websites such as Fivver, Upwork, and Linkedin to stay afloat financially.
You don’t have to waste your writing skills as a student and you can select any writing niche and advertise yourself everywhere to get jobs.
Freelance writing is a very flexible business, not time-consuming, and demands little or no capital, especially if you own a laptop or a good smartphone.
For most students, Saturdays are always free and they can decide to do whatever they wish with their day besides resting. On the flip side, Saturdays are the choice days for outdoor events of all sorts in Nigeria, and most of the time these events require the services of professional ushers.
As a Nigerian student looking for some extra income, you can set up a team of professional ushers or join one that is already existing and reputable. This will help you make the most of your Saturdays while making some money at the same time.
An advantage that this brings besides money is the connection you get to make when you step out there and mingle with people of different classes and professions.
This business is not capital-demanding nor is it time-consuming.
Generally speaking, hair-making is a very lucrative business, not just in Nigerian universities but also in Nigeria and the world at large.
Being a skilled hairdresser can earn you a lot of money with a promising prospect of expansion beyond the school walls. Basically, every lady wants to look good and the market has currently expanded to the male gender. This goes proves that once you can establish yourself as a good dresser you are most likely going to keep running into cash.
Also, the working hours for dressers are always flexible as appointments are fixed to when it will favor both parties. in addition, hairdressing can be consuming but not capital-intensive for students who just have the skill and want to use it.
Graphics designing is a lucrative skill for Nigerian students. If you are creative, good with color combinations, and have an eye for detail, then I think you should definitely try graphics design.
At the initial stage, you are not going to earn so much from it, but as you progress and gain mastery you are most likely to attract clients who are willing and able to pay for your level of expertise.
Graphics design can earn you just enough passive income to help pay your bills and maintain a good lifestyle while in school, also, if you want to you can build a career out of this and make money even when you’re done schooling by teaching others and practicing at the same time.
Graphics design is considerably time-consuming but not so capital-intensive as all you need is a good laptop.
Blogging is a good business and once involved in it you will gain exposure to a wide range of knowledge in several fields of expertise. It has a way of exposing you to a bit of everything everywhere.
Blogging can rake in passive income for you on a regular basis. It is more time-consuming than the others listed above, and on top of that, it is capital-intensive because building a blog in the first place costs quite a lot of money. However, if you have the resources to go into blogging then by all means please do.
Currently, nothing is beating tech, not just in Nigeria but the world at large. This is one of the skills that can stand you out among your peers and make you some money both in the short and long run.
If you are not already skilled in this field then I strongly suggest that you take out time and learn it, the financial rewards for this are high and satisfying.
On the flip side, this skill is both time-consuming and capital-intensive.
The cryptocurrency sea is a very big one, in it are several big fishes and opportunities, and anyone who can learn how catch in this sea is most definitely going to come back home smiling.
Now, the crypto space is a very volatile one and on this note, many warned to steer clear of it, but we can’t deny the fact that one’s life can be so easily changed if one knows what they are doing. It is on this note that I advise students to go into the crypto space, learn how it works and decide for themselves if it is worth the risk or not.
Please note that this is not financial advice but an invitation to see how much your life can be changed by this venture.
Another business students can try their hands on for juicy profits is drop shipping. With drop shipping, you don’t need to have capital as you can advertise goods you don’t have in hand on social media and still get patronage.
Drop shipping is a retail fulfillment method, with this method the seller (student) does not keep products in stock but instead receives and transfers customer orders and shipment details to a third-party supplier, who then ships the product directly to the customer. This means that the seller never physically handles the products they are selling.
For a better understanding this is a breakdown of how it works:
- A customer places an order on the seller’s website or social media inbox after advertising.
- The seller passes that order information to the drop ship supplier, including the customer’s shipping address and payment.
- The drop ship supplier then packages and ships the product directly to the customer.
- The benefit of drop shipping is that the seller does not need to invest in inventory upfront, and they can offer a
- wider range of products without having to store and manage them. However, there are some drawbacks as
- well, such as the potential for delays in shipping, lack of control over product quality, and lower profit margins due to paying fees to the supplier.
Drop shipping is neither time-consuming nor capital-intensive.
Amazon KDP is also a good business alternative for students who know how to write and are looking for the best platform to sell their skills. With Amazon KDP you can make so much money with just your phone, laptop, and writing skills.
Amazon has become a popular website for self-publishing all around the world today.
For a better understanding, Amazon KDP stands for Kindle Direct Publishing. It is a self-publishing platform created by Amazon that allows authors and publishers to create and distribute e-books and paperbacks through the Amazon website.
With Amazon KDP, authors can upload their book manuscripts, book covers, and book descriptions to the platform. Once the book is uploaded, it is made available for sale on the Amazon website in Kindle e-book format and as a print-on-demand paperback. Authors can set their own prices for their books and earn royalties on each sale.
Amazon KDP provides a variety of tools and resources for authors, including formatting guides, cover design templates, and marketing tools. Authors can also choose to enroll in KDP Select, a program that allows them to make their e-book available to Kindle Unlimited subscribers and earn royalties based on the number of pages read.
Finally, I strongly recommend that students go all out to acquire at least one tech skill of their choosing, something they have studied and think they will be comfortable with both in the short and long run.
In no distant time, tech will dominate the world more than it is at the moment and it is best that you position yourself for the wave that is coming in no distant time. This is going to be useful to you as a student and as a person outside of school.
All you need to start is the willingness to learn and the necessary resources such as money, time, and passion.
There are several skills for students to try their hands on, all the Business Ideas For Students in Nigeria 2023 are lucrative and worth the while, all you need to do is find wjat works for you and stick to it. You can make a lot of money in no time if you stay focused on your business.