Udemezue John
Introduction.
Nigeria’s economy is generally a middle-income, mixed type one, combining a blend of private and state-owned businesses to produce an annual nominal GDP of $514 million.
That figure makes it the world’s 27th-largest economy and Africa’s top one. It now ranks as the 24th on the planet regarding purchasing power parity. Yet it comes with its challenges some of which due are to it serving youth unemployment.
Jobberman Nigeria has disclosed that over 50 per cent of Nigerian youths are unemployed and unemployable, saying there was a need for urgent intervention to halt the trend. One way this trend can be reversed is the need introduction of digital skills to the youth.
Why should I Make Money Online?
DataReportal claims that from 2020 to 2021, the number of Nigerian internet users grew by 22% (19 million).
Hence, it is clear that with widespread internet access, Nigeria will likely become a booming tech hub, plus a vast technological market.
Here are reasons why you should build an online income in Nigeria.
1. You Become your boss.
When you shift into doing freelance projects or gigs, every success you experience and every decision you make is your own.
Everyone hates the feeling of having to answer for boos, and the only way to prevent it is when you become the boss.
Hence, the freedom of making a move without the influence of others is one of the rewards of making money online.
2. Work Anywhere You Want
One of the best things about having an online job is that no one can dictate to you where to work.
While it’s excellent to set up a home office, you’ll always have the option to work in your favourite coffee shop or be on an out-of-the-country trip and still work.
Hence, you can work anywhere as long as you’re feeling comfortable. You have endless options, especially with the rise of co-working spaces nowadays.
3. You are entitled to unlimited income.
The biggest reason why making money online is something you should start doing now is the possibility of having a limitless income.
Unlike when you’re a corporate employee, working online doesn’t come with a cap on your salary or the amount of money you make each month.
You are however free to explore every possible avenue to make money online as you wish.
4. You Become more flexible.
With online jobs, you can work anywhere you like and decide on the number of hours to allocate to completing tasks, among others.
Most people who now make money online have started as corporate employees, and they have seen the gap in terms of the flexibility you’ll enjoy between the two types of work.
5. You Can Keep Up With Technological Advancements
New technology keeps on coming out almost every year, and it’s easy to miss out on them when you work in a traditional setting.
The good thing about having an online job is that it requires you to be on the cutting edge of new trends in technology.
As you know, the internet continues to evolve, and it’s going to change from time to time, starting an online business enables you to keep up with technological advancements.
6. You Get Paid For Every Work You Do
Getting paid for every work you do isn’t possible in a traditional 9-5 job. All of these are going to change when you make money online.
Every hour of work you do and every brilliant idea you come up with would mean more money in your bank account.
And again, there’s no limit to how much you can earn as long as you produce excellent results for your clients.
7. Achieve A Healthier Lifestyle.
Working online enables you to go for a walk with your dog anytime you want or run at the park during your break.
You can even hit the gym for an hour or two if you feel like doing it. Since you can enjoy more flexibility when you work at home, you won’t get bound to a 9-5 setup; you can decide when to complete your tasks at hand.
How do I Make Money Online In The US and UK While Residing In Nigeria?
Making money online is a great way to supplement your income or even replace a traditional 9-to-5 job.
This is especially true for those who live in Nigeria and want to tap into the vast potential of the US and UK markets. Here are some of the most effective ways to make money online while residing in Nigeria.
1. Freelancing.
One of the easiest and most flexible ways to make money online is to offer your skills and services as a freelancer.
Websites like Upwork and Fiverr connect freelancers with clients from around the world, making it possible to earn money from the comfort of your own home.
Freelancing opportunities are available in a wide range of fields, including writing, graphic design, programming, and social media management.
To get started, simply create a profile and start bidding on projects that match your skills and interests.
I wrote a comprehensive guide on how to become a freelancer. Check out the link to the article to learn more.
- How To Become a Freelancer and Make Money
- How To Make Money Online With Upwork
- How To Join Fiverr and Make Money
2. Start an eCommerce Business.
Another way to make money online is by selling products through e-commerce platforms like Amazon and eBay.
Most times people even choose to create a standalone eCommerce store to have control over certain business logic.
This can be a great option for those who have a product idea or want to sell items that they no longer need.
To get started, simply create a seller account on the platform of your choice and start listing your products.
You’ll need to handle shipping and handling, but the good news is that you can reach a global audience with just a few clicks.
I wrote a comprehensive guide on how to start a successful eCommerce business. Check out the link to the article to learn more.
3. Affiliate Marketing.
This involves promoting products or services on behalf of companies and earning a commission for each sale made through your unique affiliate link.
Affiliate marketing is another great way to earn money online and earn US dollar and UK pounds for those residing in Nigeria who wants to make money online.
To get started, find products that you are passionate about and sign up for the affiliate program. Then, you can promote the products on your website, social media, or through email marketing.
I wrote a comprehensive guide on how to become successful with affiliate marketing. Check out the link to the article to learn more.
4. Get a Remote Job.
With the increasing demand for digital services, such as web design, graphic design, and social media management, there are plenty of opportunities to make money online by offering these services to clients in the US and UK.
Thousands of companies in the UK and the US require skilled workers from developing nations like Nigeria to do these things for them.
You can work these jobs while in a faraway country like Nigeria and earn US dollars.
To get started, create a portfolio of your work and start reaching out to potential clients. You can also build a website to showcase your services and attract new clients.
I wrote a comprehensive guide on how to land a remote job in Nigeria. Check out the link to the article to learn more.
5. Creating and Selling Online Courses.
If you have expertise in a particular subject or field, you can turn that knowledge into a profitable online business by creating and selling online courses.
Websites like Udemy and Coursera allow you to create and sell courses to a global audience, making it possible to earn money from your passion.
To get started, simply create a course, market it to your target audience, and start earning money from each sale.
I wrote a comprehensive guide on how to make money online by selling online courses. Check out the link to the article to learn more.
6. Start a Dropshipping Business.
Dropshipping is a business model where you don’t hold any inventory, but instead, you partner with a supplier who ships the product directly to the customer on your behalf.
This is a great option for those who don’t have the resources to hold and manage inventory, but still want to start an online business.
To get started, find a product that you want to sell and research potential suppliers. Then, create a website or use an e-commerce platform like Shopify to start selling the product.
You can as well partner with eCommerce giants in the US and UK to help ship your handle your inventory for customers in the US and UK.
I wrote a comprehensive guide on how to start a dropshipping business. Check out the link to the article to learn more.
7. Investing in Stocks and Cryptocurrency.
Finally, investing in stocks and cryptocurrency can also be a great way to make money online while residing in Nigeria.
While there is some risk involved, the potential rewards can be substantial if you make informed decisions.
To get started, research the stock market and cryptocurrency markets and start investing in companies or coins that you believe have a promising future.
You should make use of a legitimate stockbroker when purchasing stocks and cryptocurrency in Nigeria.
I wrote a comprehensive guide on how to make money online trading stocks and cryptocurrencies. Check out the link to the article to learn more.
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