Internet opportunities have become a digital gold rush! The online economy in Nigeria is booming. If you think making money online is a myth, think again. Many young folks are cashing out weekly in dollars, getting paid way higher than most managers and CEOs in Nigeria.
Nigerians aren’t just lazing around—they’re buzzing up the digital space, using simple skills like graphic design, writing, video editing, virtual assistant and social media marketing to make a living. Don’t you want to carve out your slice of this booming online economy? If you’re tired of your 9-to-5 job, or hungry to grow your income, this article is for you.
We’re moving headfirst into 10 of Nigeria’s most innovative, reliable, and rewarding ways of making money online.
Best 10 Ways to Make Money Online in Nigeria
One can make money online in Nigeria by putting your skills (digital, business, etc.) to work and becoming wealthy. Discussed below are the best ways to make money online in Nigeria.
1. Blogging
Blogging is writing and posting articles on a website or an online platform to create engagement, traffic, and followership. Blogging can be monetized or used for promotions.The Nigerian blogging space is vibrant, and many existing niche blogs already cater to different demographics and interests.
Statista recently published that digital advertising expenses in Nigeria are projected to reach $1.3 billion by 2027, showing a substantial market for bloggers and online creators.
- Required Investment: ₦5,000-₦20,000 (domain, hosting, initial content creation)
- Time Commitment: 5-10 hours weekly (content creation, promotion, engagement)
- Skills needed: Writing, SEO, content marketing, social media management.
- Possible Challenges: Building consistent traffic, SEO competition, monetization.
- Solutions: Focus on a niche, create high-quality content, implement SEO strategies, and network with other bloggers.
- Payment options: Google AdSense, affiliate marketing platforms, direct bank transfers for sponsored content.
Actions To Take
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- Pick a niche you’re passionate about.
- Set up a blog using platforms like WordPress or Blogger.
- Create high-quality, engaging content regularly.
- Implement SEO strategies to drive organic traffic.
- Monetize your blog through Google AdSense, affiliate marketing, and sponsored posts.
Income Expectations
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- Starters can earn from ₦50,000 to ₦500,000 or more in a month after 3-6 months.
Real-World Scenario
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- “Linda Ikeji became rich through blogging, so are many other niche bloggers. Focus on creating content that solves problems, and leverage specialized niche like reviewing local food recipes.”
2. Freelancing
Freelancing is a work system where a contractor is hired to do a job without any full-time employment commitment. As the world work system gravitates toward remote work setting, more people are embracing the freelance work system, causing a market boom.
Based on Upwork’s Freelance Forward Workforce report, the freelance market worldwide is valued at over $1.5 trillion, and interestingly, Nigeria is a growing contributor to this industry.
- Expected Investment: ₦0-₦10,000 (You can set up a portfolio website or sign up on an online freelance website).
- Time Commitment: Not specific, depends on project duration or workload.
- Skill Requirements: Each freelance niche requires a skill set (like writing, coding, design)
- Possible Challenges: Getting clients, meeting up with deadlines.
- Solutions: Set up a robust portfolio and network, and leverage freelance hubs.
- Payment Options: Bank Transfer, Payoneer, PayPal, etc.
Actions To Take
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- Find a lucrative niche, and build skills around that niche.
- Discover an effective freelance platform and develop your professional portfolio and gig profile.
- Sample your work samples to prospects.
- Design your pricing package, ( for starters, ensure your rates are very competitive).
- Actively send proposals to potential clients and build relationships.
Income Expectations
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- Starters earn around $100 to $300 monthly, around ₦100,000 to ₦500,000.
Real-World Scenario
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- “Henry signed up as a freelance graphics designer on Fiverr after completing his Graphics design training in an institute in Abuja. He focused on logo design. In less than a year, he grew his client base and started cashing out over ₦300,000 monthly.”
3. Cryptocurrency Trading
Cryptocurrency trading is all about purchasing crypto assets like Bitcoins and selling them to any interested buyer at a profit or loss. Trading cryptocurrencies can earn you passive income. Cryptocurrencies are fast becoming the global currencies. The Nigerian cryptocurrency market is booming and highly patronised by young people.
Chainalysis reported that Nigeria has reached the top list of countries that have adopted cryptocurrency.
- Startup capital: ₦10,000+ (initial capital for trading)
- Time required: Variable, depending on trading strategy and market monitoring.
- Skills Needed: Market analysis, risk management, trading strategies.
- Possible Challenges: Market volatility, security risks, regulatory uncertainty.
- Solutions: Educate yourself, use reputable exchanges, diversify investments, and manage risk.
- Payment Options: Cryptocurrency exchanges (Binance, Prestmit), P2P platforms (Paxful).
Actions To Take
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- Enrol in a cryptocurrency trading class and learn about the market trends.
- Select a trusted exchange like Prestmit or Binance.
- Start small, then diversify later.
- Harness trading strategies like arbitrage and day trading.
- Manage your risk and avoid emotional trading.
Income Expectations
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- Income can not be determined, but crypto trading is a highly lucrative business.
Real-World Scenarios
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- “Several young Nigerians currently make money with P2P trading using platforms like Paxful.“
4. Gift Card Trading
Gift card brokerage or trading is acquiring gift cards and selling or exchanging them for cash. The gift card market is gaining relevance in Nigeria, as gift cards continue to offer a stress-free and convenient means of payment. Platforms like Prestmit allow you to transact gift cards securely and efficiently.
- Initial capital for buying gift card: ₦10,000+
- Time Commitment: It depends on the transaction volume.
- Skill Need: Good negotiation ability, market awareness, and customer service skills.
- Possible Challenges: Fraudulent cards, fluctuating market rate, and locating trusted buyers.
- Solutions: Deal on verified platforms, confirm card authenticity, and build a strong reputation.
- Payment Options: Prestmit, bank transfers, mobile money.
Actions to Take
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- Sign up with a trusted platform like Prestmit.
- Stay updated on current gift card market rates.
- Buy gift cards at lower rates and sell them for a profit.
- Build trust amongst clients for reliable transactions.
Income Expectations
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- Can not be determined as the profit margins differ based on gift card category and market demand.
Real-World Scenario
5. e-Commerce
Many people are taking this route to make money in Nigeria today. This entails setting up an online store to sell goods.
This is made easier and simpler by conducting sales on platforms such as Jiji, Jumia, Konga, and others. This is one money-making strategy that requires your business and marketing skills. It is a sure way of making money for those who know how.
6. Affiliate Marketing
Affiliate Marketing is an online marketing vocation where you sell other people’s products and get paid commissions. Based on data from industry reports, the Nigerian affiliate marketing industry experienced an approximately 45% growth in 2023 and might grow even more significantly in the near future.
Experienced affiliate marketers on Jumia’s program earn roughly ₦200,000-₦500,000 in commission every month.You can start a business with zero naira investment, but if you want to set up a landing page, website, and purchase domain, hosting or some marketing tools, you might need a start-up capital of ₦10,000 – ₦30,000.
- Time Commitment: You’ll need to spend between 5-10 hours weekly (for daily social media posts and promotion)
- Skill Requirements: Digital Marketing, SEO, content creation.
- Challenges: It’s tough to create a viral post or build traffic, and it is not easy to convert the audience.
- Solutions: Focus on creating niche-friendly, high-quality posts or articles and leverage social media for sales and promotions.
- Payment Options: Paystack, bank transfers, and PayPal.
Actions to Take
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- Register for many affiliate programs of trusted companies.
- Develop a content plan for blog posts, social media posts, infographics, text, and videos.
- Leverage social media advertising and email marketing.
- Undergo SEO training to improve your organic reach.
Income Expectations
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- Starters earn somewhere around ₦100,000 to ₦500,000 monthly.
Real-World Scenario
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- Emeka, a Tech-Savvy person, set up an Instagram page where he advertises and reviews gadgets, and he is enrolled in Jumia’s affiliate program. In less than 7 months, he is already taking home ₦90,000 monthly in commissions.
7. Create & Sell Digital Products
You can make money online by selling digital products like ebooks, software, tutorial videos, etc. The digital product market is growing rapidly, and this is due to the growing demands for digital resources and online learning. The interesting thing is that you don’t actually need a startup capital to start this business, except when you don’t have the time to write the ebook or develop the digital item. Also, if you are selling something like software, you might require funds to build the software.
- Skill Needed: Writing and communication, Content creation, marketing, and product development.
- Possible Challenges: Cost of Product creation, marketing requirement, customer support.
- Solutions: Create high-quality products, use social media for marketing, set up an effective customer support system.
- Payment Platforms: PayPal, Paystack.
Actions to Take
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- Choose an area of expertise and create resourceful digital materials (like eBooks, online courses, templates, etc).
- Sell your product on platforms like Gumroad or Udemy
- Advertise your products on social media and via email marketing.
- Create video courses and host them on YouTube, or other video platforms.
Income Expectations
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- Inexperienced digital product marketers earn around ₦50,000 to ₦500,000+ monthly within the first 3 months.
Real-World Scenario
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- “As a graphics designer, you can create a template on Canva and sell on platforms like Etsy, generating passive income.”
8. YouTube Videos
You can make money from your Youtube Channel by creating videos and having people stream your video. You can also earn cash by enabling ads via the YouTube Partner Program. YouTube’s growth in Nigeria is massive, with thousands of YouTubers and millions of viewers engaging with various content. So both users that subscribe to YouTube and the ones that didn’t can watch your video content.
YouTubers are making huge money just through promotions, sponsorships, and affiliate marketing. The best part is that you do not require any starting capital, except for setting up your YouTube studio, buying equipment and software, and paying for marketing.
- Skills Needed: Graphics design, Video editing, content creation, social media marketing.
- Possible Challenges: Growing your audience, creating engaging content, monetization.
- Solutions: Create quality content, implement SEO, interact with your audience, and network with other creators.
- Payment Option: Google AdSense, sponsorships, affiliate marketing platforms.
Actions to Take
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- Find a good niche and start creating engaging video content.
- Optimize your videos for search and engagement.
- Build a loyal subscriber base.
- Monetize your YouTube channel via Google AdSense, sponsorships, and affiliate marketing.
Income Expectations
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- Your income is determined based on the number of views and engagement you can accumulate.
Real-World Scenarios
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- “Entertainment is very lucrative, and many Nigerian YouTubers are gaining easy fame and income through creating entertaining and informative videos for their YouTube audience.”
9. Social Media Marketing
Millions of Nigerians can be found on social media platforms such as Facebook, Twitter, Instagram, etc. This community of people outside the real world can be targeted by businesses to connect with customers and increase sales-this is where social media marketing comes to play.
Many businesses are employing social media marketers to convert businesses and people. With an understanding of the algorithms of social media platforms, you can reach a target audience for employers and get paid in return.
This is one of the lucrative ways of making money online, which can be done without you showing up in an office space.
10. Copywriting
Internet marketing is one of the ways of getting customers and making sales today. This requires the services of someone who has a skill in writing the text for advertising or other forms of marketing. There is enough to make as a copywriter if one can hone the skills very well.
Businesses and multinational companies now hire copywriters and pay them a considerable amount. This has been one of the most sought-after skills today and has been used by Nigerians to make ends meet.
Frequently Asked Questions (FAQs)
How Can A Nigerian Student Make Money Online?
Making money online is not tailored to a particular category. So irrespective of what you are, you can make money online. As a student, you can start making passive and active income streams if you look into a niche that interests you. Then you can start making money from there.
For instance, a Nigerian student can learn digital skills in graphic designing, copywriting, and content creation. You can start freelancing with these skills while studying, making good money.
How Can I Make Fast Money Online?
It takes time and consistency to make money online. Therefore, you need to have a skill that will avail you to start earning online. You can reap a long-term fortune when you put this system of diligence, patience, and consistency to work.
However, you can make fast money online by trading digital assets like cryptocurrency and gift cards. These are assets of real-time value, enabling you to earn money when you buy and sell them.
For instance, you can buy and hold Bitcoin in your wallet to sell at a better price later. This is what people do to make a huge profit margin from crypto trading.
Also, you may have a gift card given to you by a loved one, and you are unsure what to do with it, especially if it is an international gift card. You can sell your gift card in Nigeria at the best gift card rate when you sell on a platform like Prestmit.
This is because we are one of the best gift card trading platforms in Nigeria, so trading with us is the best idea.
Conclusion
There are several ways to make money online in Nigeria. These have proved that the internet can be used for something valuable rather than fraud/scams.
Those with one or two digital skills or who can create valuable digital products can make as much as they want online.
