Are you thinking of a business you can start with less than 2 million Naira when you retire? Great, here is a list of 51 businesses you can start on a small scale.

You should consider increasing your investment in the business when you have gained experience. However, If you want your products to be certified by regulatory authorities like the National Agency for Food and Drug Administration and Control (NAFDAC), you have to invest more money.

The businesses on this list are from four (4) sectors of the Nigerian economy.

  • Agriculture.
  • Agro-processing.
  • Small-scale manufacturing.
  • Services.

Agriculture.

  • Aquaculture: Catfish or tilapia.
  • Poultry: Broilers, layers, Quail.
  • Growing Corn/maize, yam, potatoes, and vegetables
  • Animal husbandry: Goats rearing, Grasscutter, Piggery, Snails.
  • Dog breeding
  • Wholesale or retail of agriculture inputs. Fertilizer, seeds, animal feed.
  • Production of animal feed.
crops

Agro-processing

  • Packaging of tea. (moringa, lemongrass, cloves, ginger, Turmeric)
  • Organic soap (goat milk, carrot, pawpaw, coconut oil, Turmeric)
  • Packaged Food spices (Mixed, Curry, Thyme, Ginger, garlic).
  • Packaged fresh vegetables.
  • Packaged food: Locust Beans. Rice, beans, Garri. Plantain flour, Yam flour, Ogbono, Egusi, crayfish.
  • Processed oil: Palm, groundnut, sesame. Coconut.
  • Processed Chicken, Quail, Pigs.
  • Zobo Drinks.
  • Bee products (Honey, face mask)
  • Shea butter products (Soap, hair and body cream, shampoo)
  • Processed nuts: cashew and groundnut.
  • Ginger snacks, cookies.

 Small-scale manufacturing

  • Exercise books
  • Blackboards/whiteboards
  • Chalk
  • Sponge
  • Educational Toys/games
  • Clothes (children, uniforms, fashion)
  • Furniture
  • Clay bricks.
  • Shoes
  • Jewelry and Hair ornaments
  • Bags 
  • Perfume
  • Interior décor items: paintings, Ornamental vases, figurines.
  • Small farm equipment, e.g., hoes and cutlasses
Hand made soap

Recommended Reading : Top 3 reasons why you should consider registering your retirement business with the Corporate Affairs Commission (CAC) in Nigeria.

Services

  • Rental services: Plates, Chairs, and Canopies
  • Retail business: Phone accessories, corner shop, clothes
  • Wholesale: Food items.
  • Catering services
  • Business center
  • Photography studio
  • Meat/fish shop
  • Ice block production
  • Gas shop
  • Drinks shop
  • Hairdressing and barbing salon
  • Restaurant
  • Car wash
  • Cybercafé
  • Book shop
  • Gym
  • Cleaning services
  • A Consultancy for tax or education services or other specialties.

Recommended Reading

Top 3 Tips to help you start a retail business after you retire in Nigeria

Top 3 Tips to help you start an education business after you retire in Nigeria. 

Conclusion

As a retiree in Nigeria, you have a wide range of business ideas to choose from. To increase your chances of success, please conduct a market research before you start any business.

In your market research, find out who will buy your products/services. Other things you should find out in your market research are:

  • Who is your competitor?
  • what is the current price of the product/service.
  • Where to get your raw materials.

You also consider writing a business plan before you start your business.

If you liked this blog post, please consider subscribing to get regular updates on how to start and expand your retirement business.