Top Businesses that makes You a Millionaire in Nigeria (2022)

Do want to become a millionaire in Nigeria? And you are looking at business you can invest in that will make you a millionaire in Nigeria as soon as possible? Read this article to the end. At the end of this article you will know the businesses the make the youngest millionaire in Nigeria and how you can start them.

Some of these businesses demand huge capital to start while some does not. Depending on the money you have available to you, you can start any business of your choice. The business in Nigeria that can make you a millionaire ranges from automobile, farming, business, oil and gas, hospitality, real estate and online businesses.

Businesses in Nigeria that Makes You a Millionaire

Here are businesses that can make you a millionaire in Nigeria today.

A. Tokunbo Car Business

One of the easiest ways to become a millionaire in Nigeria through business is to start the buying and selling of tokunbo cars. This business might require huge capital to start but it can yield profits in millions once started.

And the amazing thing here is you do not need to rent a huge space to display your cars. With online apps like Jiji – where buyers and sellers meet and the likes, you can drive in customers to anywhere your cars are parked.

Read also: How to Become a Successful Car Dealer in Nigeria

B. Snail Farming Business

It might sound weird to you but snail rearing business can make you a millionaire in Nigeria especially if you go into it large scale. You start this business with a big space and you start with at least 2,000 – 5,000 snails. You will be amazed by your returns.

Snail foods can be sourced from the bush or surroundings. You might not need to spend money on food – feeding for the snails. This is why it yields profit easily. This business makes you a millionaire in Nigeria because of the high demand of snails. Snail is one of the only animal that is very high in iron and due to this many rich people buy it for its meat.

C. Rice Farming Business

Rice farming business also a good business but it demands a huge capital to start. To start this farming business you will need a farmland that can grow rice – this is a swampy land. This farming has to be large scale in other for the profits to run in Nigeria. The land you will need might be an acre or more than 2 acres of land.

If you can not refine the rice and package it after harvest you can simply sell the rice to companies in Abakaliki to refine and package the rice. Rice farming is a lucrative business. It is a business that can make you a millionaire in Nigeria within the shortest time possible.

D. Oil and Gas Business

It is rear for you to see someone who is into petroleum marketing business that is not making his profit in millions whether the person is doing it legally or illegally. If this person is not making his money in millions its either they are chasing him from his village or his accountant is diverting the whole money into a separate account.

The oil and gas industry in Nigeria is not even a million naira industry, it’s a billion naira industry but only those that know this do chase it.

E. Hotel Business

The hospitality business in Nigeria is another business that is been ignored because of the idea that can only be started if one is as rich as Dangote but this is not true. This business does not necessary need to much capital and it can make you a millionaire in Nigeria. You can start small.

Aliko Dangote: 5 Lessons From Nigeria Biggest Business Mogul

You can start a hotel business if you are able to buy land in any of the Nigerian states close to the express roads and build. You can also get support from your rich friends to do this.

Read Also: How to Meet Rich Men in Nigeria

F. Real Estate Business

I know a man who started his real estate business in Nigeria with no initial capital. Let me tell you how he did it. He started by looking for a real estate company here in Lagos Nigeria that was selling land for 20M naira at a 10% issuance to the agent if he brings a customer to buy land.

He was able to persuade a friend of his friend to buy land from the real estate company and he became a millionaire instantly. He used the money he was paid to also buy land and now he has also started his own real estate company. I never believed this story until he told me with his mouth. Real estate business can make you a millionaire in Nigeria. This is why it found it way to our list.

G. Construction Materials Business

It’s a pity that many of today’s graduate-only see white-collar jobs as the only way to become a millionaire in Nigeria. I hope that so far I’ve been able to change your mind on this thinking.

Another business you can start in Nigeria that is not a white-collar job but can still make you big money is the sales of construction materials. You just need capital to purchase these materials and space to store them before you start. And just in case you are confused construction business is still the same as building materials business.

H. E-Commerce Business

E-commerce business can yield profit in millions is because it is not capital intensive. E-commerce also known as electronic commerce does not need excessive staff, expensive space and it certainly doesn’t need you to pay utility bills as well.

All you need to pay for is a website, ad expenses, and delivery (optional) There is wealth in the e-commerce industry in Nigeria that many men don’t know yet. I hope this has opened your eyes. Give them a try and see how it turns out.

I. Start an Online Business

This is the most common and easy business that move fast in Nigeria that you can go into today as a Nigerian youth because it is easy to learn and it requires little capital. There are different kinds of online businesses in Nigeria that you can learn and start making from them in no time depending on your efforts.

Some of these online businesses are starting a blog, a Youtube channel, doing affiliate marketing, drop-shipping, and more. All you need to start an online business in Nigeria is a good phone or laptop and with a good internet connection.

Internet millioniares in Nigeria like Linda Ikeji, Jide Ogunsanya of Ogbongeblog are a perfect example that online businesses can make you a millioniare in Nigeria if you are passionate enough.


To start any of this businesses that I mentioned above it is not only capital you need and it is not only the desire to start business you need. You need to be persistent. There are ups and downs in business especially at the beginning. You need to be able to continue no matter what. It is your consistency and persistence that makes these businesses make you a millionaire in the short run.


Ralph Bamigboye is an Accountant. He is the brain behind blog and Finance Naija YouTube Channel. He has helped many individuals to start their businesses and make money online. How can he help you?

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