9 Lucrative Online Business That Pays Well in NigeriaJuly 16, 2021 2021-07-31 19:10
9 Lucrative Online Business That Pays Well in Nigeria
9 Lucrative Online Business That Pays Well in Nigeria
In this age of YouTubes and Tik Tok, and generally moving all our resources to the internet, if you aren’t running an online business, then you are definitely missing out. BIG TIME.
According to numerous researches published, people are spending more time on the internet than anywhere else. This opens up a big opportunity for you to reach a lot of potential customers with your business.
In this article, we will look at 9 lucrative online business that pays well in Nigeria; I mean an online business that pays daily in Nigeria without investment. You will learn how to do online business using your phone. So, let’s get started
Table of Content
- 1. Become a Blogger
- 2. Make Money Selling Products Online
- 3. Start a YouTube channel
- 4. Work Remotely for Companies Abroad
- 5. Become an Influencer
- 6. Join Affiliate Marketing Programs
- 7. Start Trading Forex, Crypto and Stocks
- 8. Virtual Assistant Jobs
- 9. Social Media Manager
- Final Thought on the Online Business That Pays Well in Nigeria
1. Become a Blogger
If you are passionate about writing and creating content on the internet, mostly about things you love and that are capable of grabbing the attention of your audience, then you are only a few steps away from earning money just doing what you love.
Having a blog that has an extensive number of followers can let you make money by attracting advertisers that are willing to pay you some money just to place their adverts on certain pages of your blog. Or you can even make money from Google Adsense, Affiliate marketing, products sales, and much more. Just like Linda Ikeji, Akin Alabi and so much more. Just by writing about what intrigues you in a captivating manner, you can make money from it.
Regular newspapers and magazines are gradually fading out, they are being swapped for blogs. Even the newspaper company knows how important it is and also has their own blog site where they upload news.
Anyone can start a blog, unlike starting up a regular newspaper or magazine that will involve lots of politics and expenses. With a blog, all you need is just a laptop, a proper grammatical expression which isn’t a problem if you use the Grammarly tool and passion for your niche. With this, you are good to go.
Blogging is all about information sharing. It could be politics, news, entertainment, movies, music, gossip, business, sport, technology, reviews, food, health, insurance. Anything at all! Just share information that people are looking for.
2. Make Money Selling Products Online
Dropshipping and E-commerce are two popular ways to make money selling highly demanded products online. Online platforms like WordPress and Shopify have made it very easy for anyone to set up an online e-commerce store in minutes.
Dropshipping, on the other hand, is when you create an online store to sell other people’s products. Then, you get a commission for each sale. The major advantage of this over traditional e-commerce business is that you don’t have to go through the risk of buying up stock in a product and losing money if it doesn’t sell. All you need to do is create an online shop. Look for chief suppliers of products that you want to sell, copy their inventory and display this product in your shop.
When people visit your online shop to buy a product, the order goes straight to the supplier, they ship the goods to the consumer and you get your money. You don’t need to have the product!
You can start by researching some of the fastest-selling online products in your location. Products people want. It is also vital to give more priority to products that are unique and less competitive.
3. Start a YouTube channel
Top YouTubers like Felix Arvid Ulf Kjellberg the owner of the most-subscribed YouTube channel called PewDiePie (currently has 110 million subscribers) have made more than $15 million just by creating and publishing video content on YouTube.
As a YouTuber, you can make money on YouTube each time Google (YouTubes parent company) shows ads contents before or after your video has finished playing. All you have to do is make sure your videos are of high quality and you upload them consistently for the satisfaction of your audience. Gradually build your audience to start making money from it via Google AdSense, Affiliate marketing, sponsorship, and much more.
The best part is, you don’t even need to buy an expensive new camera – as long as you have a phone with a quality camera lens, you can start filming your first video right now!
You can do a comedy skit, a talk show, short movies, football reviews/previews, video gameplays, and walkthroughs, news, politics, tutorial, fashion. There are a lot of things you can make videos of. Just make it entertaining and engaging and you are good to go.
4. Work Remotely for Companies Abroad
The world is now a digital village. Everything and everyone is connected, we are no longer separated by borderlines, distances, time zones, or even languages. You can stay right here in Nigeria and be working for a company that’s in Germany. And the sweet part is you get paid in foreign currency.
Remote working is when an employee works mainly from home for corporate organizations or startups. More and more businesses are embracing the remote work lifestyle by employing staff that is not needed to resume in the office daily from 9 to 5. Plus, the whole coronavirus pandemic also acted as a big push towards the remote lifestyle.
Though it should be noted that many remote work positions are IT, content writing, and customer service related so they require specialized skill sets that are rare to find. Example of popular remote jobs includes Data Analyst, Content Writer, Software Developer, UI/UX Designer, Virtual Assistant, Customer Support and much more.
Working remotely is considered a lucrative online business idea because it gives you the time to do other things like taking care of the family (for Moms), hanging out with friends and family, or going on holidays.
5. Become an Influencer
Yes, being an influencer is now a paid job. People pay influencers now to get access to their huge follower base. You can be an influencer on any platform of your choice.
Instagram for example is a highly visual social media channel, and hence in many ways the perfect medium for brands to share their story using influencers. Influencers are people who have reputable credibility and audience and can persuade or influence others by virtue of their reliability and authenticity.
Becoming an influencer on any platform is not an easy task. If it was, everyone would have 10,000 followers on their social media platform.
The only way you get that level of influence of followers easily is if you are a well-known celebrity who has already built a huge following outside social media. But if you are not, then you go to put in the work.
Some of the influencers you see have worked so hard by creating content that captures the attention of an audience.
Influencers earn money in different ways like sponsored posts and advertisements from top brands, affiliate marketing, and selling their own products.
6. Join Affiliate Marketing Programs
Affiliate marketing is one of the countless ways to make money online by promoting products or websites to earn a certain percentage as a commission from sales made.
As an affiliate marketer, the products and services that you promote are provided by others and not necessarily you. The only duty you are required to perform is to offer a marketing or sales outlet such as a blog, email list, or social media.
One good thing about affiliate marketing, just like dropshipping is that you do not need to have any product. Just endorse products of other people and get paid for your effort. You are offered a link and you share that link with your audience.
The Affiliate marketing market is worth millions of dollars but in Nigeria and Africa, it is not well explored.
To become a successful affiliate marketer, you’ll need to target a particular product or industry. Then create a niche blog about that product or industry and recommend those products. You can also form niche social media pages or blogs and push your affiliate marketing there.
There are several affiliate marketing networks that you can join and get products or services to promote. Some of them are Jumia Affiliate, Konga Affiliate, Amazon Affiliate, Commission Junction, and more.
7. Start Trading Forex, Crypto and Stocks
Most people view currency trading (also known as FOREX) and investment as very risky businesses to start. Even though this statement is true if you start out small and invest your time into gaining knowledge and experience, you will benefit from it in the long run.
Forex, Crypto, and Stock exchanges provide a transparent, regulated, and convenient marketplace for buyers to conduct business with sellers. The stock market is vastly popular, but it is exceeded in size by the Forex market, which is the largest financial market in the world.
Nowadays, the internet has made things easier. You can start trading forex, crypto, or stocks by sitting in front of your computer in the comfort of your home and make money. The best feeling is sleeping and waking up to profits in foreign currency. What a way to start a day!
8. Virtual Assistant Jobs
A virtual assistant is someone who carries out all the tasks of an assistant but online. Being an online or virtual assistant is one of the best ways to earn money online. There are plenty of companies that would prefer to hire an assistant that works online.
So, if you’ve good organizational and communicational skills then this can be a good way of generating income online. Services required of every virtual assistant are quite different from the other.
Payments can be based on the tasks or services provided, hours done, and other factors. The benefit of being a virtual assistant is that you can work with single or multiple clients around your schedule.
Here are some services you can render as a virtual assistant:
• General Research
• Social Media Management
• Data Entry
The only things you need to start your work and start earning as a virtual assistant are your smartphone/laptop and a reliable internet connection and you are good to go.
9. Social Media Manager
Many companies or big-name corporations are usually very busy with their customers so they need someone that will be able to handle and maintain their online presence. What they want you to do online for them varies but it all falls under managing and keeping an online presence.
The basic thing about this work is that you can work from anywhere. The company or person you want to represent online can be in Abuja while you (social media manager) can be in Owerri and you will still do your job perfectly.
So, this might be a good way to put all of your social media knowledge to good use.
Final Thought on the Online Business That Pays Well in Nigeria
Having and running an online business is a dream that offers the promise of independence and financial security. The first and most significant step towards this dream is choosing an online business idea that matches your skills and works towards it. Every business here requires you to put in the work.
Creating a lucrative online business that pays well in Nigeria is simply a matter of focusing on your strengths and expanding your network. The online business ideas shared in this post just don’t create a pathway to escape the 9 to 5 office lifestyle, they also offer a kind of freedom that most people never get to experience till they are old and gray.