5 Best Ways to Make Money Online in Nigeria

Almost everyone I know wants to find a way to start making money online, but here is the thing, making money online is not as hard as you imagine it to be. The real challenge is having the right mindset and motivation to do what is necessary to succeed.

When I decided I wanted to start making money online I spent more than a year continuously working on different online business models, going through trials and errors, I worked day in and day out for over a year without earning anything.

But when I finally figured something out and started making money online, within just a few months, I found myself earning more money than I had ever dared to dream of.

So, before we dive into the best ways to start making money online, you should expect a few setbacks along the way, and be willing to get back up and do it again. Expect to have to work hard, especially in the beginning. Expect a learning curve.

But rest assured that if you embrace these challenges, success is not just a possibility but a certainty!

Understanding Online Businesses

There are countless online business models that you can start as a Nigerian, some are real business and some are more like gambling.

In the online world, there are two kinds of businesses. Some are “keeper” businesses that can be your main source of income for a long time. Others are “quick money” businesses, which can make you money fast but also risk losing it. And then, some businesses work for a little while but can’t be your main income source for long.

A classic example of an unsustainable online business is cryptocurrency trading. You don’t have control over how its value goes up or down, so you might make money one month but lose twice as much the next.

Another thing to understand is, that some online business models require a large upfront monetary investment. Something like Dropshipping requires Paid advertisements, and since after Covid, the cost of Facebook ads has gone up a lot.

So as a Nigerian, and probably someone with no extra money to invest in trial and error, is important to be careful when choosing an online business model.

What You Should Consider When Choosing an Online Business Model in Nigeria

Your Availability

Before deciding on an online business model, think about how much time you can commit to working on it each day.

Different businesses demand varying amounts of time and effort. Typically, if you pick a business model that doesn’t need upfront money, you’ll need to invest more time and effort into it.

How Much Money Can You Invest?

Certain businesses need more money to start, but there are online businesses that don’t require any upfront investment.

If you’re not keen on putting money in, make sure to pick a business model that doesn’t demand it.

Your Understanding of The Business

It’s wise to put your time and effort into something you know well. If you know a certain area, it’s a good idea to explore opportunities there.

But if you’re not familiar with any online business models, then let’s move on to the next point.

Your Learning Capability

No matter which online business model you pick, you must grasp how it operates and manage it for success. That’s why it’s crucial to choose a model you can comprehend.

For example, if you decide to offer subscription-based computer software but lack a background in software engineering, it will be challenging to understand what you’re doing, even if you have the best product globally.

5 Ways to Make Money Online in Nigeria

Method #1: Freelancing

Freelancing is when you, as an individual, offer your services to different clients for specific projects. Instead of being tied to one company or person, you work with several clients simultaneously.

As a freelancer, you’re your own boss. You get to decide what services you provide, how many hours you put in each day, and how much clients pay you for each project.

Watch this video to learn how you can start freelancing as a complete beginner with NO experience:

Requirements:

• Personal computer
• Access to internet
• Willingness to learn

Method #2: Print on Demand

Print on Demand is a business idea where you design things like T-shirts, hats, mugs, or books. You put these designs up for sale on a website like Redbubble.com. When someone buys your design, Redbubble makes the product with your design on it and ships it to the buyer.

They take out their costs, and the rest of the money goes to you. What’s cool is that the product is only made after someone orders it.

Starting in Print on Demand is pretty easy, but it’s super competitive. To do well, you have to get creative with your designs and make a bunch of them to up your chances of selling stuff.

If you’re willing to invest some money, you can create your own website and use social media and paid ads to promote your products.

Requirements:

• Learn to create interesting designs

Optional:

• A personal website to promote your designs
• Paid Advertisement

Method #3: Blogging

Blogging is like having your own online journal or diary, but it’s on the internet for everyone to read.

People write blogs about all sorts of things, like their hobbies, experiences, advice, or information they want to share. It’s a way to communicate with others and express yourself through written posts, pictures, or videos on a website called a blog.

Blogging is perfect for you if you have a passion for a specific topic, and you enjoy writing.

For example, I have a passion for online entrepreneurship and I enjoy writing, so I am blogging about online entrepreneurship.

Requirements:

• Domain name – $14/year
• Web hosting – $65/year
• Web design – Free (Just learn how to use a template)

Method #4: YouTube Content Creation

Becoming a YouTube content creator might seem intimidating for various reasons. You might feel uneasy about being in front of a camera, not having the right recording gear, or simply not knowing what to talk about.

But here’s the deal: whatever you’re worried about, there’s usually a solution. If being on camera makes you uncomfortable, you can create a channel where you don’t have to show your face. For instance, you can make DIY Craft videos without speaking or showing yourself.

And if you think you lack proper recording gear, many smartphones these days have cameras that are good enough for making YouTube videos.

Becoming a YouTube content creator takes a good deal of learning and patience. To improve your chances of reaching monetization, you should focus on being creative and keeping up with regular content creation.

If you want to start a journey to becoming a full-time YouTube content creator, the Think Media channel will be a valuable resource. It’s a great place to learn the essentials for starting and growing your YouTube channel.

Requirements:

• Camera or Smartphone

Method #5: Affiliate Marketing

Affiliate marketing is not the thing where you send something to your friends and ask them to share it with 3 of their friends, that is not even close to what affiliate marketing truly is.

Affiliate marketing is a business model where you promote other people’s products and services through a unique referral link, and earn a commission every time someone makes a purchase through your affiliate link.

There are many ways to become an affiliate marketer, but one of the easier ways to do it is using social media.

Let’s walk through an example, the first thing you need is to pick something of interest. It could be Technology, Home Improvement, Health and beauty, etc.

Here’s how it works: Once you choose a topic you’re passionate about, create social media pages dedicated to that topic. Then, start consistently posting content related to it.

If you create the right type of content, like tips, unboxings, tutorials, or showcases, you’ll gradually attract people who share your interests.

Once you have a good number of followers who are into the same topic, you can become an affiliate for companies that produce products or services related to your posts. You’ll get a special link to these products or services, and you can share this link in your posts.

When your followers click on your link and make a purchase, you earn a commission. It’s a way to turn your passion into income.

Requirements:

• Audience interested in a specific niche

Final Thought

Making money online is challenging for everyone, regardless of your geographical location, and most people fail because they get into it with the wrong mindset. They try something for a few days and stop without learning what they need to learn and implement the right strategies to succeed.

At the end of the day, your success comes down to your dedication to doing whatever it takes to make it work and your dedication to learning what you need to learn in order to succeed.

My final advice: Don’t give up too soon! Anything good and sustainable takes time, and if it takes you a year of continuous effort before you make it, the result will be worth it.

So, pick something today and get to work. Your future self will thank you!

Here is to your success 🎉