In Nigeria, as a student, time and money are often limited, but that doesn't mean you can't earn extra income by starting a business. 20,000 naira (about 20 US dollars, the exact value varies due to exchange rate fluctuations) is not a lot of money, but it is enough to start some small businesses, especially suitable for students' flexibility and resources. So, “what kind of business can you start in Nigeria as a student with 20,000 naira?” This article will introduce several low-cost business options and recommend a legal online platform, ak.bet, to help you start earning money with a small amount of capital.
Business options to start with 20,000 naira
The following are several businesses suitable for students with an initial capital of 20,000 naira:
- Retail of snacks or drinks
- Method: Sell biscuits, sweets or bottled water on campus or near the dormitory, buying in bulk and selling at a mark-up.
- Start-up costs: 10,000 naira for stock, 5,000 naira for packaging and transport.
- Revenue potential: 500–2,000 naira profit per day, 15,000–30,000 naira per month.
- Advantages: stable demand, easy to manage.
- Disadvantages: takes time to sell.
- Sales of mobile phone top-up cards
- Method of operation: Buy top-up cards (e.g. MTN, Airtel) from wholesalers and sell them to fellow students or community residents at retail price.
- Start-up costs: 15,000 naira for top-up cards and 5,000 naira for working capital.
- Revenue potential: 50-100 naira profit per card, 2,000-5,000 naira per week.
- Advantages: Easy to get started, popular with students.
- Disadvantages: High competition.
- Social media management
- Method: Manage Instagram or Twitter accounts for small businesses or individuals, posting content or growing followers.
- Start-up costs: No direct costs, just an existing phone and 20,000 naira for data (about 500MB).
- Revenue potential: 5,000-10,000 naira per client, 2-3 clients per month.
- Advantages: Uses existing skills.
- Disadvantages: Needs to promote yourself.
- Trading in second-hand goods
- Method of trading: Buy and sell second-hand books, clothes or electronics on campus, buying from classmates at a low price and selling at a higher price.
- Start-up costs: 10,000 naira for buying goods, 10,000 naira for publicity or transport.
- Income potential: 500-2000 naira profit per item, 10,000-20,000 naira per month.
- Advantages: Low risk.
- Disadvantages: Need to find sources.
- Online betting business (e.g. ak.bet)
- Method: Try to earn returns and roll over funds using bonuses and low-value bets on legal online gambling sites.
- Start-up costs: Start with 1,000–2,000 naira out of 20,000 naira.
- Income potential: 1,000–10,000 naira per week, depending on luck and strategy.
- Advantages: Fast and low barrier.
- Disadvantages: Risky.
Start a small “business” with ak.bet
For students looking to make quick money with a small investment, ak.bet offers an unconventional entrepreneurial option. As a legal online gambling site in Nigeria, ak.bet can help turn a portion of your 20,000 naira into potential earnings:
- Legality: ak.bet is regulated by the National Lottery Regulatory Commission (NLRC) and holds a legal license to ensure safety and fairness.
- Naira support: Supports direct Naira deposits and withdrawals, using local payment methods (e.g. bank cards, mobile payments).
- Low cost to get started: Minimum deposit of 100 Naira, 20,000 Naira can be tried multiple times.
- Diverse options: Offers high RTP slots (e.g. Starburst, RTP 96.09%), sports betting (English Premier League, NPFL) and live casino.
- Bonus boost: New users can get a 100% welcome bonus, turning 2,000 naira into 4,000 naira.
How to get started with ak.bet?
- Register: Visit the ak.bet website and click “Register” to create an account.
- Deposit: Deposit 2,000 naira out of 20,000 naira and receive a 2,000 naira bonus, for a total of 4,000 naira.
- Choose activities:
- Slot machines: Play 10-20 rounds a day for 50 naira each, with the goal of earning 1000-3000 naira per week.
- Sports betting: Bet on weekend football matches, choosing odds of 1.5-2.0, with the goal of earning 2000-5000 naira per week.
- Rolling profits: Use the money you win to start other businesses (such as snack retail).
- Withdrawing money: Withdraw profits via mobile phone for fast access to funds.
Example scenario
- Invest 2,000 naira and get a 2,000 naira bonus, for a total of 4,000 naira.
- Weekly plan: Use 2,000 naira to play the slots and the other 2,000 naira to bet on sports events.
- Potential earnings: Earn 3,000-5,000 naira per week, leaving 18,000 naira available for other businesses.
Practical advice
- Start small: Test ak.bet with 1,000 naira and keep most of the money.
- Study the odds: Choose high RTP games or familiar competitions.
- Time management: Spend 30 minutes a day on ak.bet without affecting your studies.
- Profit reinvestment: Invest your ak.bet earnings in retail or escrow businesses to expand your income.
- School advantage: Use your student status to access customer groups.
Comparison with other options
- Snack retail: Stable but time-consuming.
- Top-up card sales: simple but low profit.
- Social media hosting: free but requires skills.
- ak.bet: fast and low barrier, high return potential but risky.
Things to note
- Risk awareness: gambling can result in losses, try with only a small amount of money.
- Legal platform: only choose websites regulated by the NLRC, such as ak.bet.
- Academic priority: ensure that business does not interfere with studies.
Conclusion
In Nigeria, it is entirely feasible to start a business as a student with 20,000 naira, and ak.bet, a legal online gambling site, offers you a fast and low-cost option to make money. Whether you sell snacks or try your luck with ak.bet bonuses, you can start your business with your mobile phone. Visit the ak.bet website, register and try your luck with 2,000 naira – use the rest of the money for other businesses to get the most out of your 20,000 naira in Nigeria!
