The internet has opened up a world of possibilities for making money online, and students in Nigeria are no exception.
Whether you’re looking to earn some extra cash on the side or build a full-time career, there are a variety of opportunities available to students who are willing to put in the time and effort.
In this article, we’ll explore some of the best ways for students in Nigeria to earn money online, and provide tips and strategies for success.
What Is an Online Business?
An online business is a company or enterprise that operates primarily over the Internet. It uses digital technology and online platforms to conduct its operations, market its products or services, and connect with customers.
Online businesses have become increasingly popular in recent years due to the convenience, flexibility, and global reach that the Internet provides.
They can be run from anywhere in the world, and often have lower overhead costs compared to traditional brick-and-mortar businesses.
What Does It Mean To Start an Online Business as a Student In Nigeria?
As a student, you have the advantage of having a flexible schedule and being able to work from anywhere with an internet connection, making it easier to manage your studies and your business.
Starting an online business as a student in Nigeria requires identifying a profitable niche, developing a business plan, setting up a website or online store, creating and marketing products or services, and managing financial and administrative tasks.
Depending on the type of business you want to start, you may need to invest in equipment or software, build a social media presence, or develop skills in areas such as web development, graphic design, or digital marketing.
Starting an online business as a student in Nigeria can be a great way to earn extra income, gain valuable experience in entrepreneurship and digital marketing, and build a business that can continue to grow and generate revenue even after you graduate.
However, it requires dedication, hard work, and the ability to balance your academic commitments with your business goals.
Why Should I Start an Online Business as a Student in Nigeria?
1. Flexible schedule.
As a student, you have the advantage of having a more flexible schedule, which makes it easier to balance your academic commitments with running a business. You can work on your business during your free time, such as evenings, weekends, and holidays.
2. Low start-up costs.
You can start with as little as a laptop and an internet connection, which makes it a more accessible option for students who may have limited financial resources.
3. Opportunity for passive income.
4. Gain valuable skills.
By starting a business while still in school, you can gain practical experience in these areas and develop skills that will be valuable in any future career.
5. Build a network.
It also allows you to connect with other entrepreneurs and like-minded individuals who can offer support and advice.
6. Create your brand.
By building a strong online presence and reputation, you can differentiate yourself from others and create a unique value proposition.
7. Pursue your passion.
Starting an online business allows you to pursue your passion and turn it into a viable business. Whether you’re interested in blogging, creating art, or selling handmade goods, there is likely a market for it online.
By building a business around something you love, you can turn your passion into a profitable venture.
8. Build financial independence.
As a student, you may be faced with the challenge of finding a job that pays enough to cover your expenses.
9. Faster personal growth and maturity.
Nothing turns you into an adult quicker than the responsibilities of owning your own business. When you run an online business as a student in Nigeria, you get to understand the complexities of running a business.
Running a business introduces you to many life lessons, and being introduced to them at an early age will allow you to develop into a more balanced person sooner.
10. Ability to work from virtually anywhere in the world.
Yes, the current trend in Nigeria is ” Japa” The truth is that you dont need to leave your country if you can earn in USD.
One thing people who ” Japa” do not tell you is the huge cost of living that comes while you reside in the system overseas.
For starters overseas, you earn not up to $5K a month, but when you calculate the cost of living which includes paying rent and many things, then you hardly save $1K each month.
It is possible to run an online business from any corner of the world, provided you have an Internet connection. The work won’t be any easier in an apartment in the USA than in your own house in Ibadan.
11. Less overhead and financial commitment to start.
Before the Internet and eCommerce, it was difficult for someone in his or her 20s to start a business. Bank loans were not made accessible to anyone, and starting an online business generally has lower overhead when compared to an offline traditional brick-and-mortar business.
Now that we’ve covered why starting an online business as a student in Nigeria can be beneficial, let’s take a look at some steps you can take to get started.
- Identify your niche: The first step in starting an online business is to identify your niche. This means finding an area of expertise or interest that you can build a business around. This could be anything from fashion to technology to cooking. The key is to find something that you are passionate about and that has a market demand.
- Conduct market research: Once you’ve identified your niche, it’s important to conduct market research to determine the viability of your business idea. This involves researching your target audience, competition, and market trends to ensure that there is a demand for your product or service.
- Create a business plan: A business plan is a roadmap for your online business. It should outline your goals, strategies, and tactics for achieving success. This will help you stay focused and organized as you launch and grow your business.
- Choose a business model: There are many different business models to choose from when starting an online business. Some popular options include e-commerce, affiliate marketing, digital products, and online courses. Choose the model that best suits your niche and business goals.
- Build your online presence: Your online presence is crucial for the success of your online business. This includes creating a website, social media profiles, and other online platforms to showcase your brand and reach your target audience.
- Create and launch your product or service: Once you’ve built your online presence, it’s time to create and launch your product or service. This could be anything from a physical product to a digital course. Make sure to test and refine your product before launching to ensure that it meets the needs and expectations of your target audience.
- Market and promote your business: Marketing and promotion are essential for the success of any online business. This involves creating a marketing strategy, leveraging social media, and using paid advertising to reach your target audience and drive sales.
Starting an online business as a student in Nigeria can be a challenging but rewarding experience.
By following these steps and staying committed to your goals, you can create a successful and profitable online business that allows you to achieve financial independence and pursue your passions.
What Online Businesses Can I Start in Nigeria as a Student?
Before getting into this section, one point I would like to make is that you need to have one or two skillsets to make money online as a student in Nigeria.
Be not deceived, there is no quick way to make money online, it’s like an art and you have to master it. Internet penetration in Nigeria is at its all-time high. Nigeria has over 91 million internet users out of a population of 206 million.
85% of these users are believed to be accessing the internet using their mobile phones. Here are a few online businesses you can start as a student in Nigeria.
1. Become a Freelancer on Fiver.
Fiverr brings together buyers and sellers from all over the globe. Earning five dollars per task may not sound like much, but those little sales can become a lot of money in little or no time.
Irrespective of your skill level and experience, there is something you can offer the global market for outsourced services on Fiverr. Fiverr works similarly to other online marketplace platforms. A service offered on Fiverr is called a Gig.
Before you can buy or sell anything you must first sign up. ll purchases are subject to a processing fee, Fiverr charges the buyer a $2 processing fee on each purchase and 5% on purchases above $20. Sellers keep 80% of each Gig they sell after they have completed and delivered the task.
I wrote a comprehensive guide on how you can get started on Fiverr and make money, check out the link to the article to learn more.
2. Become a web Developer and get a remote job.
Web development is the process of building websites and applications for the internet. Web development is not concerned with the design of a website; rather, it’s all about the coding and programming that powers the website’s functionality.
You can get a job as a web developer for a foreign company here in Nigeria, I am a testimony to this, and this was how I started, depending on your skill set and your negotiating power, you get paid 2K (N1500,000) to $5K (N2,500,000) each month.
All you need is just put a sleepless night into mastering the basics of web development and that settles it.
I wrote a comprehensive guide on how you can become a web developer and make money, check out the link to the article to learn more.
3. Become a freelancer on Upwork.
Upwork is a marketplace that connects businesses with freelancers around the world for small or long-term jobs and gigs.
Honestly, I think Upwork and other sites that cater to remote work will only become more popular in the coming years.
As the entire world becomes more and more connected with great internet access, the need for people to hire local staff is significantly shrinking.
Companies are increasingly realizing that remote workers are more productive and less expensive.
Upwork is an amazing platform that allows you to sell your services online for a huge amount of money, the difference between Upwork and Fiverr, is the fact that you get to set your price, Bid for the project from clients directly.
4. Start a blog.
Blogs are a great way to make money online There are so many people in Nigeria who started a blog and made fortune from it, I am one of those people and I recommend you do too.
In the nearest future, we would not need a university to get access to knowledge, people would do it using search engines, and this is where owning a blog comes to play.
I wrote a comprehensive guide on how you can start a blog and make money on this blog, check out the link to the article to learn more.
5. Become a YouTuber.
You dont need to be superhuman to start your YouTube channel, all you need is a smartphone and wonderful topic ideas, and that settles it.
You can earn from $1K to $100K as a YouTuber. I wrote a comprehensive guide on how you can start a YouTube channel and make money, check out the link to the article to learn more.
6. Become a Social Media Influencer.
Influencer marketing works. That’s the reason why it seems everyone wants to become a social media influencer these days.
This type of marketing continues to grow as a real and effective way of advertising and keeping your audience engaged to make a profit.
Today, there are over 3.7 billion social media users and the influencer marketing industry is worth an impressive $5 billion!
All you need to get started as an Influencer is to choose a niche, a preferred social media platform and strategies to grow it.
In no time you should be on your way to earning lots of money from it such as Paid advertising, Affiliate marketing and many more.
I wrote a comprehensive guide on how you can become a social media influencer and make money, check out the link to the article to learn more.
7. Start a dropshipping Business.
The customer places an order, and then the company notifies the manufacturer or distributor of the product that an order has been placed and it should be dropped into a shipment for the consumer.
The manufacturer or distributor sends the product directly to the consumer on behalf of the dropshipping company.
The procedure is simple, the consumer pays the drop shipper. The drop shipper pays the manufacturer or distributor.
The manufacturer or distributor sends the product to the customer. Practically, the drop shipper is a marketer.
You can order products from China, stock them on Jumia and create ads for that product, when a customer places orders Jumia or Konga delivers that product to that customer while you get paid.
I wrote a comprehensive guide on how to get started with dropshipping as a beginner, check out the link to the article below to learn more.
8. Learn Affiliate Marketing.
In simple terms, affiliate marketing means selling goods and services from another person or company and generating a portion of the revenue from it. You set up a website or blog and join affiliate programs that are relevant to your audience.
You can connect to these programs through affiliate networks, which provide you with a link that you include on your site. When someone clicks the link and buys the product, you get a portion of the sale as a commission.
The affiliate marketing industry is growing steadily. Statista reported that spending on affiliate marketing in the U.S. was predicted to reach $8.2 billion by 2022, with a steady rise in the coming years.
Affiliate marketing has been around for a long period in Nigeria, and so many people have made so much money from it.
You must have heard about the rise of popular affiliate Networks like Expertnaire and lots of them, the truth is Affiliate marketing works and it’s left for you to dive into it now.
Other affiliate marketing networks can make you money in US Dollars, all you need do is identify those platforms, sign up and promote your links.
9. Sell Books on Amazon KDP.
Amazon Kindle Direct Publishing is a free platform owned by Amazon, that lets independent authors sell both e-books and print-on-demand books on Amazon.
It costs nothing to join KDP and sell e-books on Amazon, and you’re paid a royalty, anytime someone purchases it. Anyone can sell books on Amazon Kindle Direct Publishing (KDP).
Opening an Amazon KDP account, listing, and selling books on Amazon are all free and is not restricted to any part of this world.
As a Nigerian student, you can utilize this method to bring in dozens of revenue in US Dollars without doing too much, all you need do is come up with an amazing book title, and a catchy cover that settles it.
You can make lots of money in just a few days to a week in publishing. I wrote a comprehensive guide on how you can become self-published on Amazon and make money, check out the link to the article below to learn more.
10. Become an NFT artist.
I wrote a comprehensive guide on how to get started in NFT as a beginner, check out the link to the article to learn more.
11. Become a Music artist.
If you are musically talented, you may have considered a career as a recording artist. By pursuing this career, you can do what you love for a living while sharing your passion for music with others.
While this career choice requires talent, you’ll also need some personal branding strategies. I’m so happy that Nigeria was able to build a brand in music called “Afro beats” a lot of young people have risen via this route and more people are still utilizing this avenue to make money.
You can become a self-signed artist without any record label, all you need is access to the studio, production and promotion.
I wrote a comprehensive guide on this blog on how you can become a self-signed artist and make money, check out the link to the article to learn more.
12. Learn Digital Marketing and Get a remote Job.
A digital marketing specialist is a professional with a diverse set of skills, responsible for the online promotion of a website (business or products), using all available digital marketing channels such as Social media, Search engine optimization and many more.
Such people need to have a good knowledge of all Digital marketing disciplines and tools.
There are a lot of businesses in Nigeria that have problems when it comes to taking their businesses online, and they need experts to help them do so.
All you need to master as a digital marketing expert is the use of Social media, paid advertising, search engine optimization web design and web analytics. You can also get a remote job overseas while remotely in Nigeria.
I wrote a comprehensive guide on how you can become a digital marketing expert and make money, check out the link to the article below to learn more.
13. Become a Photographer.
For many, photography is a hobby, but to others, they want to earn money and become their boss as professional photographers.
While it may seem daunting to become a big name in photography it is possible to pursue a photography career and business. Not only is there a high demand for professional photographers, but you can also earn a handsome salary in photography.
Photography is one industry that continues to make money in Nigeria, there is no going back when it comes to photography.
Students in school want to have a copy of themselves, and modelling agencies require very good photographers, at very affordable prices.
All you need as a student is the basics, which can be learnt online, YouTube preferably, get your hands on a good camera and start shooting. Trust me, all it takes is a leap and you will be shocked as to where you will find yourself.
14. Create and Sell online Courses.
There’s never been a better time to sell digital products like a course and be part of a movement and industry that’s democratizing education, and giving teachers and students the ability to reach out to a global audience.
In 2020, the global e-learning market was estimated at $250 billion and is projected to reach $650 billion by 2026.
I wrote a comprehensive guide on this blog on how to start creating your online course and make money, check out the link to the article below to learn more.
15. Start a podcast on a topic you love.
A podcast is an audio-only episodic series that features one or more hosts talking about a particular topic. Some podcasts discuss just anything you can think of: from current events to true crime to beekeeping.
When it comes to Podcasting, the developed world is at the forefront, countries like the US, Uk, Canada and many others lead this industry with the highest number of listeners.
Nigeria is quite behind when it comes to listening to the podcast, this is due to the inadequacy and slow speed of the internet in the country.
All you need to start a podcast is to come up with an amazing topic, a smartphone, a microphone, even you can come up with a video version of your podcast to attract an audience and earnings from YouTube, and a podcast hosting platform.
I wrote a comprehensive guide on how anyone can start creating a podcast and make lots of money and a career out of it, check out the link to the article to learn more.
16. Sell Real Estate in Nigeria.
Nigeria, one of the most prominent countries in Africa, not only has the largest economy but is also the most populous country on the continent. Owing to the foregoing, there is a continuously increasing demand for real estate and infrastructure products and services. Furthermore, the World Bank, in its 2016 World Bank Open Data:
pegged Nigeria’s annual urban growth rate at 4.3%, indicated that there was an increase in housing demand in Lagos, Kano and Ibadan by 20%, and estimated that by 2037, the urban population will have doubled.
As widely reported, Nigeria is estimated to have a housing deficit of about 20 million housing units as of October 2021.
While players in the real estate sector in Nigeria are making active efforts to bridge the housing gap, it is clear that there is room for more investment as the real estate sector has played and continues to play, a vital role in the economy of Nigeria.
According to the GDP Report for Q1 2021 published by the National Bureau of Statistics, Nigeria’s real estate sector grew by 1.77%, contributing a total of 5.28% to the real GDP of the country for the period under review (around USD 5.3 billion).
Nigeria is one nation with more than 200 Million people who need quality housing, no matter what, one of the essential needs of mankind is housing, and you can’t take that out no matter what, people will continue to need a place to call home.
Places like Lagos, and Abuja, lead the real estate market in Nigeria, you can start an Air BNB business, build a hostel for students, or even enrol in a real estate marketing platform where you get access to a whole range of properties and sell for a commission.
Marketing should not be an issue because you have access to social media, all you need do is come up with a brand name and that settles it.
I wrote a comprehensive guide on how you can start a real estate business and make money, check out the link to the article to learn more.
17. Learn WordPress.
WordPress currently powers more than 30% of the internet. Why? Because it can be tailored to fit just about any site need (it’s not just for blogs anymore).
Plus, there are tons of themes to choose from to make your website look unique and lots of plugins to add cool features.
Learning WordPress is one of the easiest routes when trying to get into web development.
Also, WordPress is quite easy to use, cos it does not cost so much to set up, anyone can do so with less than $10 and charge the customer a reasonable amount as a service fee.
Here is an article I recommend you read to learn more about getting to know and understand WordPress better, check out the link below to learn more.
Starting an online business as a student in Nigeria can be a great way to gain valuable skills, earn extra income, and achieve financial independence. With the right idea, effort, and dedication, you can create a successful online business that can help you achieve your goals.
Finally, starting an online business as a student in Nigeria can provide numerous benefits, including flexibility, low start-up costs, the opportunity for passive income, valuable skill development, networking opportunities, the creation of your brand, pursuing your passion, and building financial independence.
By taking advantage of these opportunities, you can set yourself up for future success both personally and professionally.