With a population of more than 200 Million persons, Nigeria is by far the most populated country in Africa.
This is set to double again to over 400 million by 2050 when it will overtake the US as the world’s third most populated country.
Nigeria is an extremely diverse country and home to multiple ethnicities. English is the country’s official language, but Hausa, Yoruba, Fulani and Igbo are major languages too. There are over 500 additional indigenous languages spoken here too.
Nigeria boasts the second-largest movie producer known as Nollywood. It produces around 50 movies per week, which is more than Hollywood and second only to Bollywood.
While its revenue might not be able to compete with the likes of Bollywood and Hollywood, it still generates an impressive $590 million every year.
According to the International Monetary Fund (IMF), in 2020 Nigeria lead the way as the biggest economy in Africa.
With an average GDP of $510 Billion, it is the 26th largest economy in the world. Do you want to make money online in Nigeria? This article has been written to help you do so with ease.
Why should I Start an Online Business In Nigeria?
One of the biggest reasons, if not the biggest reason, why making money online is awesome is that your income potential is nearly limitless.
Making money online in Nigeria becomes even more fantastic because you get to build your dream life.
If you are skilled and intelligent, you can make more money in one month in Nigeria than many people make in an entire year working at a normal offline job. Here are a few reasons why you should start an online business in Nigeria.
1. You earn in a stronger currency.
Starting an online business in Nigeria enables you to earn in top currencies like US dollars which are higher when converted to the Nigerian Naira.
2. You Become happy.
Assuming you start an online business that’s related to your passions and interests, you’ll be happier overall in life just by combining work and play.
Most times you may not like your 9 -5 job, but one alternative that guarantees you income is to start an online business.
3. You Become Location Independent.
Working online gives you the flexibility of being anywhere you want. You can work and travel at the same time.
Live wherever you want and Setup up your workstation on the beach, be in nature. This ability to work from basically any place you want to makes it so much easier.
4. There are no limits, no income roof, and infinite opportunities.
One benefit attached to working online is the fact that you get to earn limitlessly. You can go from just earning a few thousand dollars to raking in Billions of dollars in just a few years.
Many online businesses are very scalable and don’t have a lot of bottlenecks with production or logistics. All you need is a Laptop, an active internet connection and a comfortable workstation
5. You can start your online business anytime.
Starting an online business does not require extra training or education, all you need is to learn by doing and don’t allow excuses to get in your way.
Any information and resources you need to run your business can be learned easily by using Google or surrounding yourself with people who are relevant to your passion.
An easy business is to start an affiliate marketing website and get commissions from products you recommend to your audience.
6. You Become independent.
Starting and scaling an online business enables you to earn passive income which makes you independent.
You will create your world and rely purely upon yourself, which by the way is a very amazing feeling.
Your belief systems will try to limit you, but if you understand how it works, you can remove the limits for yourself.
7. Get more time for other things in life.
Building an online business allows you to devote time to another project, remember that having an online business means establishing passive income for yourselves.
By running your own business, and relying fully on yourself, you’ll get the chance to do other things you want in life.
How do I Make Money Online In Nigeria?
Starting an online business in Nigeria has many advantages. Here are some of the viable online business ideas anyone can start in Nigeria.
1. Start a blog.
Starting a blog remains the easiest way to make money online and build the freedom that not many jobs can give you.
You don’t have to be an expert or a professional writer to start a blog. Your readers are looking for personable advice.
As long as you can help them and be relatable, you can become a successful blogger. You can decide to monetize your blog using Google Adsense, Affiliate marketing and many more.
I wrote a comprehensive guide on how to start a blog and become successful. Check out the link to the article to learn more.
2. Start an Uber Business.
Uber is a transportation network company located in San Francisco, California. The Uber platform is estimated to have over 100 million users in different parts of the world, and Nigeria is not left behind.
If you are a licenced driver then you can easily make money from Uber by driving people around your city.
I wrote a comprehensive guide on how you can start and scale your Uber business in Nigeria. Check out the link to the article to learn more.
3. Start a YouTube Channel.
YouTube presents you with an opportunity to reach a massive audience with over 75% of Americans who use the social video site, compared to 69% who use Facebook.
More than half of those users visit YouTube every single day. Wouldn’t it be nice if they took a look at your content while they were there?
Luckily, creating a YouTube account isn’t difficult. Creating a successful YouTube channel is a little more work but don’t worry.
I wrote a comprehensive guide on this blog to help you overcome these challenges. Check out the link to the article to learn more.
4. Get tech skills and work remotely.
Next is to get a high-demand tech skill, become certified and start making money with it. Some of these skills include software engineering, Digital marketing and many more.
I wrote a comprehensive guide on how you can get started in tech with no experience and make money. Check out the link to the article to learn more.
5. Become a Web Developer.
The primary job of a web developer is to create websites. While their primary role is to ensure the website is visually appealing and easy to navigate by end users.
There are various categories of web developers and they are back-end developers, front-end developers, and full-stack developers.
Some web developers also work as webmasters. Back-end web developers create the unseen parts of the websites such as Databases and security.
I wrote a comprehensive guide on how you can become a web developer and become successful. Check out the link to the article to learn more.
6. Start an eCommerce Business.
An eCommerce business is a business model where the buying and selling of goods or services are done over the internet.
Retail eCommerce sales worldwide are nearly reaching nearly $5 trillion in 2021, which makes it an ever-green industry.
The first step to building an e-commerce store is knowing what products you want to sell direct-to-consumer. Next is to create a visually appealing website and finally promote it to end users.
I wrote a comprehensive guide on this blog on how to start an eCommerce business and become successful. Check out the link to the article below to learn more.
7. Start an Affiliate Marketing Business.
Affiliate marketing is the process of earning commission from recommending a product or service offered by another business.
As a business model, affiliate marketing is highly profitable because the business pays you for every referred sale.
Another point you should note is that affiliate marketing is a business model built on recommendations, which makes it a low-risk investment.
Businesses only need to pay out when you make a successful referral (versus paying a fee for influencers).
You can work from anywhere in the world. If you’ve ever dreamed of living the digital nomad life, affiliate marketing can help you call anywhere in your workplace.
I wrote a comprehensive guide on how you can start an affiliate marketing business and become successful. Check out the link to the article below to learn more.
8. Start an Amazon KDP Business.
Amazon KPD or Amazon Kindle Direct Publishing is a self-publishing website owned by the big eCommerce giant (Amazon) designed to allow individuals to publish and sell their books online.
Selling books on Amazon is one cool way to make money online in Nigeria. Amazon KDP platform is free to use to publish your books, set prices and start making money.
The best way to get faster and be up and running with this online making money scheme is to get mentored by someone successful in the past selling books on Amazon.
I wrote a comprehensive guide on how to make money online selling books on Amazon. Check out the link to the article to learn more.
9. Become an Affiliate Partner with Expertnaire.
Expertnaire is a Nigerian digital marketplace that allows digital product creators to sell their products and make money and also allows individuals called affiliates to promote these products while earning a commission also.
There is a limitless amount of money that can be made via the Expertnaira affiliate marketing program, you just have to be ready to get your hands dirty.
I wrote a comprehensive guide on how to make money online with Expertnaire marketing. Check out the link to the article to learn more.
10. Become a Freelancer on Upwork & Fiverr.
Upwork and Fiver connect freelancers(individuals with digital skillsets ) with businesses and individuals who are skilled digitally.
These tasks range from building websites, mobile apps, and logo design among others.
Are you a digital nomad, programmer, designer, copywriter, SEO expert, or digital marketer or do you have other digital skills?
You can make fortunes online on these two freelancing platforms. The good thing about working on these platforms is that you will be paid in dollars by a foreigner who pays wholesomely well.
Getting started is easy, just create a profile account on these platforms, once you are approved, you can browse jobs and apply for them.
I wrote a comprehensive guide on how to make money online via Fiverr and Upwork. Check out the link to the article to learn more.
11. Invest in Cryptocurrencies.
The Crypto ecosystem is so big that it has numerous ways to make money with it. From buying and selling cryptocurrencies, trading on futures, Selling NFTs, and crypto jobs among others.
Even with the recent crash in the crypto market worldwide, cryptocurrency remains of the ways to become a millionaire in Nigeria today.
I wrote a comprehensive guide on how to make money online with cryptocurrency. Check out the link to the article to learn more.
12. Start a Jumia Business in Nigeria.
Jumia.com.ng remains the most visited e-Commerce platform in Nigeria. Jumia has millions of amazing high selling products from different vendors and from Jumia itself.
If you have products and services, you can sell them on Jumia. To get started, you will need to register as a vendor.
After registration and approval, you will have access to your vendor dashboard where you will be able to upload your products and sell them. Jumia has some percentage they take on each product sales among other charges.
Jumia also provides various opportunities to make money for individuals such as; Becoming a Jumia Affiliate Partner via Jumia Kol Program, Becoming Jumia Sales Consultant via JForce Program and many more.
I wrote a comprehensive guide on how to make money on Jumia in Nigeria. Check out the link to the article to learn more.
13. Become a Forex Trader.
Forex trading involves the art of exchange of one currency for another for trading. Forex trading is another smart way to make money online.
Forex trading is highly risky but with proper mentorship, the sky can be your starting point. Anyone can easily make a fortune online trading on forex
I wrote a comprehensive guide on how to make money online with Forex trading. Check out the link to the article to learn more.
14. Start a Dropshipping Business.
Dropshipping is a type of eCommerce business model in which businesses sell products without having to carry any inventory.
Instead, when a store owner receives an order from a customer, they simply contact the supplier, who will then ship the products directly to the customer’s door.
Dropshipping is a great way to start an eCommerce business with very little upfront investment.
I wrote a comprehensive guide on how to start a dropshipping business. Check out the link to the article to learn more.
15. Create an online course
Creating and selling online courses is another lucrative way to make money online in Nigeria.
You can impart knowledge and expertise through an online course. This will position you as a thought leader in your community of like-minded individuals.
To succeed, you have to choose the right subject matter and test your idea extensively. The key to earning money is based on the value you provide to your community along with the pricing strategy you put out for the online course.
I wrote a comprehensive guide on how to build a passive income by creating and selling online courses. Check out the link to the article to learn more.
16. Become a Translator.
Becoming a translator comes with huge potential when it comes to making money online. If you know more than one language, you can put these skills to use and translate for people on the internet.
Language services are in demand worldwide. There’s a requirement for it from content to travel & tourism and even the medical industry.
You can explore short-term language work on freelancing websites, primarily as gigs. Additionally, if you are looking for long-term associations, you can explore partnerships with translation agencies.
To Make things even much easier, you can leverage free tools like Google translate to brush up on your skills.
I wrote a comprehensive guide on how to make money online with Google translate. Check out the link to the article to learn more.
17. Sell photos and art online.
Are you a creative artist or photographer, selling art and photos online is one way to make money online?
Explore websites like Unsplash that allow you to upload pictures that can be used by millions across the globe.
Additionally, you can sell your art in digital and physical form. Amplify your art and reach a new audience through social media.
You can even decide to mint your art as NFT while bringing in revenue from cryptocurrencies.
I wrote a comprehensive guide on how to make money online with NFTs. Check out the link to the article below to learn more.
18. Start a Podcast.
We live in a time where monetizing your thoughts is possible, anyone can start your podcast and create content for listeners across the world.
You can also bring in millions of views, and earn money from paid ads, listener donations and premium episodes.
I wrote a comprehensive guide on how to start a successful Podcast. Check out the link to the article to learn more.