Online businesses in Nigeria

14 Most Lucrative ways to make money online in Nigeria

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Making money online in Nigeria has become more easy and it’s gets better everyday. In Nigeria there are many ways to legally make money online. The internet has made things a lot simpler.

This has made running convenient for businesses, keeping customers in touch, and even making profits convenient. On this article, we’ll cover how Nigeria can make money online.

Who has the right to make money online in Nigeria

Anyone who has internet access will make money online.

On the internet, everything is about what you’ve got to sell. What would you do? Most people don’t care about where you come from, your ethnicity, your educational qualifications or something, what you have to say is what they care about.

Even, if you have such skills as writing, graphic design, fast typing, coding, SEO, teaching, and much more, you can exploit it and make a living from the internet.

You can make the money online as long as you can read and write. But if you do have computer skills, you can also develop a great career.

Linked published the most requested online skills, most of them being tech skills, the good thing is that you can learn any of these online skills for free!

Ok, no matter who you are, this article is about you.

Pros of working and earning online

There are a lot of benefits for considering working online.

  • You may also operate online as an alternative revenue source. You can spare a few hours a week and make extra money online for when you’re going to your main work.
  • Doesn’t drain financially: Online research isn’t capital-intensive. All that you need mostly is your phone.
  • No need to invest extra. You don’t have to pay for travel to work when you work online, buy office wears, buy lavish lunch at work and so on.
  • Versatility: You get versatility in working online. You have the power of your time.

If you don’t run online businesses in Nigeria then you’re missing out. According to numerous published researches, people spend more time on the internet than anywhere else.

Which opens up a major opportunity for the company to meet a lot of them. In this post, we’ll look at Nigeria’s best online businesses you can start and make money from.

Why should you run online businesses in Nigeria

If you are searching somewhere in Nigeria for a shop to rent. I’m sure you’re going to be in a busy area searching for store.

Either near the path, bus stop, or any spot where a lot of people move every day. Why? For what? Because you wish to introduce a lot of customers to your company. The better the more people who are seeing your brand.

The online business is very relevant for that very reason. At the moment the internet is the busiest location in the world. Less successful than any global market.

Billions of people worldwide use the internet daily. Starting an online company gives you access to as many clients as a real-world company.

Another reason you should start an online company is that it opens up huge opportunities and gives you a wider scope than regular business.

You can be in Nigeria carrying online businesses with people in the U.S., Canada, Australia and anywhere in the world. This means a wider audience, and greater opportunity.

It’s also easier to manage online business. You can be in your office, and run your company online. All you need is a computer, and an internet connection. The startup expenses are less costly than normal companies.

The internet offers a level playing field. No one really cares about who you are on the internet, how social you are, who your father is, how wealthy you are or where you come from.

ONLINE BUSINESSES TO START IN NIGERIA AND MAKE A LOT OF MONEY

Below is a list of the online businesses you can go into in Nigeria and earn a lot from it.

1. Blogging

Blogging is without a doubt one of the best online enterprises to start in Nigeria. Anyone can do this online business, and make money. Gradually daily newspapers and magazines are dying out, and blogs are replacing them.

And everyone on the internet has the freedom to start a blog, unlike starting a daily newspaper or magazine that entails lots of politics and expenses.

I can’t remember the last time I bought a magazine or newspaper. I get online whenever I need details, I visit some blogs and get everything I need! Plus simple and comfortable.

 

If you are well-informed and have an interest in a particular subject, you can start a blog and make money.

Blogging is all about shared knowledge.

It could be politics, entertainment, news, gossip, industry, sports, technology, reviews, food, health, and insurance. Nothing, really! Only express what people are looking for.

When you start getting traffic to your blog, Google Adsense, affiliate marketing, product sales and more will start making money from it.

You may struggle in the beginning because you’re young, but long as you know what you’re doing and keep increasing your audience, you’ll make more than $1000 (over N350k) a month in a year or less.
It’s easy to create a blog and creating one shouldn’t take you more than 20 minutes.

We advise you to create a blog that is self-hosted, so you can customize it and be in full charge. Big money from a free blog is really hard to make.

Domain name will cost you on or below N4000. Your blog hosting will cost you about N3000 or less a month.

But charging up front for a year is still recommended, and it’ll be much cheaper than paying annually. It’ll cost about N27k a year.

2. Affiliate Marketing

This is a very lucrative online company that people sometimes overlook. Affiliate marketing is all about recommending people to purchase a product or services for a fee.

The positive thing about promoting an affiliate is you don’t need to have any stuff. Only recommend other people’s goods, and get paid for your effort.

A connection is given to you, and you share that connection with your audience.

I know it sounds so fast, but let’s break it down. Let’s say a product like a phone worth N80k is recommended. And your fee is N16k, which is 20 per cent.

You share your links across your networks and, through your recommendation, at the end of a month, 1000 people can buy from you. This alone can drive a lot of money to your online business

The promotion of affiliates is worth billions of dollars but it’s not well explored in Nigeria and Africa.

You may need to target a certain product or industry to become a good affiliate marketer. Creating a niche blog about the company or sector and recommending its products.

You can also build a social media niche pages and drive ads for your affiliate there.

3. Freelancing

This is a very lucrative online business, which in Nigeria is not well keyed in. Freelancers make up 35 percent of their workforce in the United States, and contribute over $1 trillion to the economy.

Freelancing is all about housework. If you have any skills you need, you can become a freelancer, and you can make good money.

It is an online business which is very lucrative. Freelancers earn over $1 billion a year on Ppwork alone, which is just one site! And you could be among those!

For students and others who need part-time work, this online business is really good. When you’re home, you concentrate on it, and make money with your skills on the side.

4. Making online videos

Also known as Vblogging, online video business is a very lucrative industry to make money online in Nigeria in which everyone can venture into it.  Did you recently join YouTube? I’m sure you do.

Either to watch the new music video, some comedy skits, a spotlight on football or something interesting. Vblogging is all about that.

You can make videos on Facebook, Instagram, Twitter and elsewhere but YouTube is the biggest online video business platform.

YouTube is Google’s second-most-used website on the Internet! Yeah, people around the world use YouTube more than Facebook, more than Instagram and more than Twitter. YouTube’s all about posting the photos. Videos only.

If you’re excited about videos, start making them and uploading them to YouTube. You can do a comedy skit, short clips, chat shows, reviews / previews can be done on football.

There’s so much that you can make videos for. DIY, life hacks, sports, music, movies, news, politics, fashion tutorial. Several.

Create your audience and with Google AdSense, Affiliate Marketing, Sponsorship and much more you can start making money out of it.

5. Social media marketing

Social media includes so many users. From YouTube to Facebook, Instagram, Twitter, LinkedIn, Snapchat and the rest. Users spend the better part of their days on these sites.

Social media marketing lets businesses draw on social media audiences to generate leads.

Organizations with a strong social networking campaign have been shown to boost their revenue by more than 100 percent.

But there are very few social media marketers working with businesses in Nigeria. In Nigeria, too many small businesses do not make use of social media to push business leads.

You will become a social media marketer and fill the void. You’ll sure make a lot of money online to help businesses exploit social media

6. Start a mini Web hosting business

There are many firms, organizations and individuals looking to bring their goods or ideas online. That’s not official but nearly half of Nigeria’s business and non-business organizations have no websites.

A lot of them may want to get online because the internet keeps expanding.

One wants a Web host to create a website. You can start a mini web hosting company and take such companies and organizations as clients.

You can also perform outreach to sanitize companies in your community, because they should have a website.

You’ll need a very fast and reliable machine to start a mini web hosting company, and rent a big server.

7. Online shop or Drop shipping

You can start a shop online, and make money. Today, Jeff Bezos is the richest man in the world, with an online shop called Amazon. In Nigeria Jumia and Konga are the main online stores.

You can create an online shop in Nigeria and make money if you have goods that you sell, highlight your goods and meet more people online. You can also source goods and sell them online from different people.

If you don’t have the money to purchase goods or operate a warehouse, you should try drop delivery.

All you have to do in drop-shipping is build an online store. Search for big product suppliers you’d like to sell, copy their inventory. This product is shown on your store.

8. Web design

 

Many websites are created daily. Billions of websites are on the internet, and millions more are added every month. Website production is on the rise in Nigeria as more businesses and organizations are looking to tap into the power of the internet.

Those businesses need web designers to help them create their company websites.

You need to have the coding skills to be a web designer. These days you can practice programming online virtually for free. You need a clear understanding of the CMS you are using, too.

Study web design, then create a website and promote it on social media. You will come across customers. This way, you can make money online in Nigeria.

9. Creating digital products

Digital goods are goods which are predominantly consumed online. These include: e-book, games, themes, applications, logos and more.

They’ve the potential for making you rich. Take what s app, for starters. It is a physical asset. It was built for keeping in touch by a group of friends. Then Viral went off and they sold it for $19bn! That is Naira Trillions.

Sold to Instagram for $1 billion. Other instances are numerous. Even if you don’t sell in billions, people are selling applications on Flippa every day for thousands of dollars, which is millions in Nigeria.

 

10. Engage in trading Bitcoins and other crypto-currencies

Bitcoin has been one of the most lucrative ways to make money online in Nigeria over the past few years. It is also one of the best ways to make money up till this moment.

You just have to buy and sell. You can buy them, keep them for a while, then sell them when the price appreciates.

Bitcoin keeps on rising. Now it’s so big you can use it to shop at the world’s most popular stores. It’s gone very strong!

You can buy and sell bitcoin via a website like Quidax.

Quidax helps make it easy for Nigerians and Africans to trade in bitcoin and other cryptocurrencies.

You can use naira to buy and sell bitcoin without thinking about dollars and the calculation of exchange rates

11. Forex trading and binary options

You can trade in and make money on Forex or binary options. That’s an easy way of making money online in Nigeria. But beware, it can be dangerous, too. Forex revolves around foreign exchange.

You sell currencies, therefore. Buy them and you’ll be making money when the value goes up. You can buy dollars now, for example, if it’s going up in value by next week, you’re getting good benefit.

Binary options are all predictive. You have a option to choose whether a specific asset would go up or down, whether it be currency, stock, cryptocurrency or another.

If your forecast is right, then you will make a lot of money. If that’s wrong, then you can lose all your money. It is so easy.

IQ Options represents the leading online Forex and binary trading site.

12. Online surveys

In Nigeria you can gain additional income online as a student or as a worker conducting online surveys. That online money-making method is very simple.

The online survey is about sharing your opinion about a specific product, services or ideas. Generally speaking, you get paid for giving your opinion.

Might sound really wild. Why do anybody want to pay you for giving your opinion? Well, major businesses such as Coca-cola, Pepsi, Apple, Samsung and more are still interested in what the people want.

That allows them to build new product that is going to sell. So they conduct a survey to see what the people want, and ask people to give their opinion.

They have a data to work on from those opinions.

All you have to do to receive revenue from online survey is register with a reputable online survey site. When signing up make sure you have correct details.

Then check back to complete surveys every single day. The more you complete the surveys, the greater the credibility you receive.

For Nigerians and other Africans the most effective survey site is ySense. They pay as much as $2 per question. It may be higher or far below this often. But as you build your credibility, you are getting more surveys and paying more per survey.

13. Create an ecommerce business

If you want to make a massive amount of money online than this is for you. Ecommerce sector is extremely lucrative if you succeed in doing so.

There are websites allowing you to build a shop online. Shops include Jumia, Konga and others. You can build such a store, sell your own products and make some money.

If you don’t have products or the money to get products, you can check for famous distributors, copy their goods into your online store.

Whenever a customer orders it is forwarded to the manufacturers, they supply the product to the customer and you get paid you can create a free online shop with WooCommerce using WordPress.

14. Online tutor

 

You will make money by teaching online over the course online.

If in any area you believe you can impact on others you have a very sufficient knowledge, why not build a class? Build a successful online course, students sign up to learn, and with your experience, you’re making money.

Rather than holding the experience to yourself, share it and make money out of it.

Online tutors make an average of more than $10,000 for each lesson, and you can be one. There are plenty of sites you can sign up for to build your own course. One is the Teachable.

Komolafe Timileyin is a passionate entrepreneur that loves to solve entrepreneurial issues. He is also a blogger and an upcoming Engineer.

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