The web space is filled with online business opportunities that are very profitable and this article is intended to address the varying ways you can make money online in Nigeria legally.
Table of content
- Starting a profitable online business in Nigeria
- Top 8 online business opportunities that pays in Nigeria
°2. Freelance writing
°3. Start a YouTube channel
°4. Sell Info products
°5. Sell photos online
°6. Affiliate marketing
°8. Online courses
Starting a profitable online business in Nigeria
Starting an online business in Nigeria and world over not only affords you the opportunity to easily target your audience on a global level unlike a physical store busine. It also offers the advantage of requiring minimal investment and having less overhead than a traditional business.
Virtually everyone can start an online business in Nigeria. It thus became something which is most sort after especially with the arrival of the covid-19 pandemic.
This is because online businesses allows you to make money even in quarantine. As such, you are in luck if you’ve decided to start your own internet based business.
The internet, with 4 billion users promises huge business opportunities for Nigerians who want to make money online. However, this is a very competitive industry and you will have to sweat your shirt to get along.
It is thus recommended that you do a thorough research on your chosen niche, it is then from that point that you will be able to run an online business in Nigeria that fills a market void.
Having an online business idea you can do in Nigeria is a crucial part of your journey to making money online. For some ideas, you may need special skills, more time or effort to attain inorder to attain your goals.
Your store will never be closed. That is, it will be available for purchases 24 hours a day and 7 days a week;
You can operate your business wherever you want, for that, you only need internet access.
Top 8 online business opportunities that pays in Nigeria
Starting a blog doesn’t require a great deal of technical / computer skills.
Blogging is all about information sharing. If you have experience, passion or interest in any given subject, you can start a blog as a business and share your wealth of experience on the given subject.
It could be politics, business, health, insurance, reviews, sport, technology, gossip, entertainment news and any other form of information that people are searching for.
Specialized niche blog as an online business in Nigeria affords you the opportunity to make money online – if you know how to monetize it and you also have the luxury of being able to work from home.
You can start a blog in Nigeria with little investment. However, you must be willing to put in extra effort into writing quality articles, learning and implementing SEO as well as marketing your contents.
You would also need to create contents consistently, irrespective of your niche and target audience.
More so, it should be content that either teaches, informs or entertains.
That’s to say, you need to capture the attention of your audience in some way, having in mind that attention is currency in our new economy.
With genuine and quality content being produced and published consistently, you
can monetize your blog in any of the following ways;
• Affiliate marketing – You can earn commissions by promoting a company’s products or services to your readers.
• Displaying ads on the blog either through google adsense or other pay per click networks.
• Paid comments or posts.
2.) Freelance writing
Working as a freelance writer, creating blog articles, product descriptions, sales letters and the likes is another great way to earn some cool bucks from the online space.
Thus, if you have a flair and passion for writing, you can get paid for creating contents for companies in need of the above mentioned services.
You also get to work remotely and have more control of your routine.
3.) Start a YouTube channel
Videos constitutes an excellent strategy for you to create valuable and useful content for your audience.
Thus, if you like the idea of being behind the camera, you can start a YouTube channel and make money producing valuable contents in the form of videos.
No doubt, Youtube has become one of the most visited sites today and you can make videos talking about a topic of interest to your niche.
There are approximately 400 hours of video uploaded to YouTube every minute and about one billion hours watched on a daily.
To get started, you don’t need a super professional equipment for your video productions.
You can actually start with a simple video camera or your smartphone. However, ensure you are careful with aspects like audio and lightening.
More so, you can use simple editing software to either change, insert or modify some elements.
To expand the reach of your videos, you can post them on social media, your blog etc.
Top YouTubers like Felix Arvid Ulf Kjellberg, the owner of the most-subscribed YouTube channel called PewDiePie has made more than $15 million creating and publishing video contents on YouTube.
So, you can make money as a YouTuber each time google shows ads contents before or after your video has finished playing.
Another amazing opportunity to earn money through YouTube channel is through paid sponsorships. However, you need to build a sufficient base of subscribers to earn through this method.
4.) Sell Info products
You do not necessarily need to sell physical products inorder to have an online business in the 21st century.
Info products are digital products that can be traded. They are known to be one of the easiest ways to make money online.
There are varying ways to create these contents. However, the most acceptable info products formats include podcasts / audio, videos and ebooks.
Regardless of the format, what’s important is that the content is useful and valuable to your target niche market.
Once you put up any info product on your blog or website, anyone can buy and download it at any given time of the day. Thus, info products serve as a reliable source of passive income.
5.) Sell photos online
If you’ve got good skills as a photographer, it’s time to turn your camera to money minting machine. This is because selling photos online can be more profitable than you can imagine.
However, you’ll need to invest in a camera that takes quality photos inorder to start this online business.
It may also interest you to invest in courses that teaches you advanced skills on how to photograph and increases your expertise as a photographer.
With that said, there are numerous and varying photo sharing sites where you can upload photographs.
You can register with one or more image banks like istockphotos and market your images on the platform. You make money from each and every download of your displayed photos chosen by users.
6.) Affiliate marketing
The core of affiliate marketing is to get your affiliate links to interested audience and get them to make a purchase. The method used in achieving this is completely your choice.
To begin with, you’re to find a profitable niche and seek out an affiliate partner that has products available in the said niche.
Each product comes with a unique link that tracks your account with the affiliate partner.
When users click on your affiliate links, they are automatically redirected to the product page. You receive affiliate commission on every of their purchases.
Interestingly, there’s virtually no form of investment required for this type of online business in Nigeria.
You don’t have to bother about dealing with logistics of shipping products, dealing with customer questions or stocking products.
7.) Online consulting
If you have vast knowledge and extensive experience in any given field, then you’ve got what it takes to offer online consulting in that field and make money from it.
As a consultant online, you are simply required to apply your skill, knowledge and expertise to help solve varying problems of your clients in the given field of your expertise.
However, in addition to the knowledge, you would also need a good interpersonal relationships skill, sales technique among others in order to thrive in your given niche.
Digital marketing consultancy is one such online businesses in Nigeria in which professionals apply their knowledge in SEO, Adwords, Analytics, sponsored links, social links and the likes to enhance clients’ businesses on the web space.
8.) Online courses
Online courses can be about any given subject at all, so long you have something to teach which people find very useful and want to learn, especially on online learning platforms like Udemy, Skillshare and Teachable. You get paid for each student that enrolls for your course
Thus, you can monetize your knowledge by making it available and teaching it to interested people over the internet, either by selling it yourself or through an affiliate program.
Selling online courses on your blog or website would lower the cost of paying commissions to third parties to promote the course.
However, it may be better to promote your products through affiliate programs if you don’t have a large audience yet. That way, you can validate your idea and grow your fan base.
As you may have noticed, there is no shortage of good online businesses you can do in Nigeria.
The opportunities are therefore many and varying thereby making it difficult for you not to find the one that fits your profile.
Interestingly, you don’t have to restrict yourself to one of these online businesses.
You can start with one and add new revenue streams overtime. However, it will depend on your creativity and skill.