With many ways to make money online in Nigeria, you can be your own boss building a global brand from the comfort of your home.
You can reach a global audience and make more money at the same time, thanks to the World Wide Web. The internet gives you the opportunity to build a brand that connects with anyone from anywhere in the world.
While it is relatively easy and cheap to build a living on the internet, knowing the worth by evaluating online business ideas will give you an insight into that which fits your profile and strength.
Nevertheless, you can earn a fortune online by doing what you love and helping others connect to products and services.
Ways to Make Money Online in Nigeria
Here below are the best online business ideas in Nigeria:
Click to Scroll to Section
- 1 Blogging
- 2 WhatsAppreneur
- 3 Social Commerce
- 4 Loan Commerce
- 5 Web Design
- 6 Travel Dropping
- 7 Online Course
- 8 BNPL Merchandise
- 9 Own a Wine
- 10 Currency Exchange
- 11 Gift Card
- 12 eCAC Agent
- 13 Need Financing
- 14 Marketplace Tutor
- 15 e-Legal
- 16 Travel and Leisure
- 17 Affiliate Marketing
- 18 Content Writing
- 19 e-MLM
- 20 Audio Host
- 21 Stock
- 22 Brand Ambassador
- 23 Drop Servicing
- 24 Start-up Investing
- 25 No Code
- 26 UAT
- 27 Career Coach
- 28 eCommerce
- 29 Coupon Host
- 30 Friend Referral
- 31 Group Lord
- 32 Ghost Merchandise
- 33 Loan Agent
- 34 Freelancing
- 35 Marketplace Commerce
- 36 Trade Crypto
- 37 Book Publishing
- 38 Asset Flipping
- 39 P2P Credit
- 40 DeFi
- 41 Pre-Order Trading
- 42 Real Estate
- 43 Digital Marketing
- 44 e-Planner
- 45 Be Lazy
Blogging
Cost Estimate
$40
Difficulty
Medium
Blogging is one of the best ways to make money online in Nigeria with the potential to return a very high profit if well managed.
It involves publishing content on different topics like news, careers, business, and entertainment to any niche you can think about.
Within a few minutes, you can get your blog up and running using WordPress: the recommended tool to build your blog with for its easiness and customisation opportunities.
This is one of the popular online business ideas that can earn you an income from multiple streams including writing, sales of products, recommendations and others.
While you can start a blog free with some tools, the best you can do for your internet business is going with a premium option like Bluehost as you can brand the blog to your taste and increase your income by connecting different streams.
If writing could be a time-consuming thing to do for you, there exist many automated content writing tools like Copymatic you can use to generate content for your blog.
WhatsAppreneur
Cost Estimate
0
Difficulty
Easy
WhatsAppreneurship is one of the easy ways to make money online in Nigeria.
The good thing about this online business idea is that it requires 0 capital to start, and no technical know-how than your time to promote your products through status updates and product cataloguing.
There are a lot of brands making millions of sales every month through WhatsApp and the reason it converts is that the trust level is good considering that it is more within people in your contact list and you are easier to reach with just a chat.
There are two models of WhatsAppreneurship: WSaaM and WSaaS:
- WSAAM simply means WhatsApp sales as a merchant which involves you selling products to your customers. You do not need to own the product, it could be from your neighbour or any other person that owns a physical shop
- WsaaS simply means WhatsApp sales as a service that involves you offering a service than selling a product. It could be setting up a group for skill training, helping people do their shopping, laundry to other service-related needs
Social Commerce
Cost Estimate
0
Difficulty
Easy
Social Commerce is one of the trending online business ideas in Nigeria, thanks to the growth of internet adoption.
This basically involves selling through social networks like Instagram, Twitter, Facebook and others.
It is similar to WhatsAppreneurship, only that it involves selling more to the public than your contact list. Both business models can be combined for higher sales.
Online store building on social media is one of the ways to make money online in Nigeria. These days, you see different stores dedicated to selling items like wristwatches, eyeglasses, and clothing to a lot of others.
If you do not have the capital to sell your own goods, you can still set up your social commerce store and sell items owned by an offline merchant.
You earn by selling someone’s item by adding a markup on the original selling price. For instance, if the offline merchant sells the item for ₦ 1, 500, adding a markup of ₦ 1, 000 means you will be selling the item for ₦2, 500 on your social commerce store.
If you have the capacity to buy your goods and sell them, the profit margin becomes higher. Nevertheless, you can grow by selling other people’s items.
Some social commerce entrepreneurs engage in group shipping from the US, China and other countries which they will then sell on their respective social stores in Nigeria.
You do not need to only sell physical goods, some social commerce stores are into the retailing of food and other services. For instance, an Instagram store for dog foods in Nigeria.
Loan Commerce
Cost Estimate
$1000
Difficulty
High
Providing loans to people is one of the very profitable ways you can make money online in Nigeria.
Of course, it demands enough capital to handle funds disbursement but over time, you can use your net on previous loans to manage the business considering you can charge from 5% to any percent you want. But, keeping it low will get you more customers.
The Nigerian consumer lending market is a very large one worth over 2 trillion nairas, there is enough space for new players to come in to tackle the credit needs of individuals and businesses.
It demands the ability to measure the creditworthiness of potential lenders, recovery processes, and overall management. All these can easily be managed, thanks to tools like Configure by Evolve Credit.
Configure will enable you to launch your loan product with complete tools that include branded application page, credit assessment, fund disbursement, monitoring, collection, and reporting from its cloud platform.
As a recommendation, you might want to focus on SME loans for businesses as it will be easier to handle recovery and the maximum length should not exceed 3 months.
Web Design
Cost Estimate
$40
Difficulty
Medium
Web design is one of the best ways to make money online in Nigeria which requires low start-up capital.
This business requires very technical skills in the past but these days, you can create websites using drag-and-drop tools without writing a single line of code.
You can take a day to learn web development using WordPress and once you are confident with your skills, the money will roll in by taking web design jobs.
Though you should use one of the WordPress recommended hosting providers like Bluehost to create websites to avoid unnecessary downtime and gets good support, you can start learning today by using Whogohost WordPress Standard plan.
This is one of the best online business ideas in Nigeria that can return good revenue when you start building websites for medium to large-sized individuals and businesses.
Travel Dropping
Cost Estimate
0
Difficulty
Easy
Travel dropping is one of the online business ideas in Nigeria that requires no capital to start.
It involves picking up items and delivering them to the desired locations, usually when you are traveling and want to make some money by helping individuals and businesses get their goods to their customers.
While it is targeted at people who are traveling and can help pick up items, you can make a lot of money by doing this as a full-time business.
Imagine picking up 40 items at a cost of ₦1, 500 each from Lagos to Abuja: that will be ₦60, 000 gross profit. Assuming you spend ₦10, 000 for accommodation, ₦18, 000 as transportation costs (to and fro), and feeding at ₦2, 000, your net will be ₦30, 000 per travel dropping. Doing this 5 times in a month equates to ₦150, 000 net profit.
You might be wondering how do you get the goods, your pockets can get topped up through platforms like Dropper that will connect you with businesses and individuals in need of travel droppers.
Online Course
Cost Estimate
$40
Difficulty
Medium
Online course development is one of the best ways to make money online in Nigeria.
There are hundreds of professional exams written every year with difficult-to-get learning materials. Developing a channel that enables people to access essential information needed for them to pass these exams will make you a fortune.
For instance, thousands of people write the Institute of Chartered Accountants of Nigeria exams every year. Considering this is an important certification for people interested in becoming accountants and top financial decision-makers, there is a market for online courses catering to their needs.
You can start with a niched exam like ICAN and as you grow, add related examinations like ACCA, CFA, and others. And look at the market for IELTS for instance, people need courses on how to pass these exams.
You must not focus on exam-related courses, it can be skill training like digital marketing, investments to a lot of other ideas people are in need of.
The good thing about this online business idea is that you do not need to have knowledge in a chosen field. You simply provide the platform and work with partners who are knowledgeable in that field to create the needed materials.
BNPL Merchandise
Cost Estimate
$40
Difficulty
Medium
BNPL, which is a short form for Buy Now, Pay Later is one of the credit-line-related ways to make money online in Nigeria. It typically involves selling items that users will pay for later.
Despite appearing like you will have to wait to get your money from the users after delivering the goods, it involves a different approach.
Though the customer will get his goods and pay in installments, you will get your full payment instantly once the customer has satisfied the requirement for a BNPL order.
There is actually a BNPL provider who handles credit checks and installment payment agreements with the customer. This BNPL provider will pay the complete item cost to you and he will get his money later from the customer.
There are so many platforms you can use for BNPL merchandising, including BNPL by Configure and PayQart.
These BNPL companies give you a checkout facility that you can integrate with your online business shop to allow your customers to submit requests to pay for goods in installments.
Own a Wine
Cost Estimate
$1000
Difficulty
Easy
Owning some bottles of wine is one of the ways to earn money online in Nigeria.
This is termed fine wine investing, one of the portfolios holding online business ideas in Nigeria.
It is similar to investing in the stock market but it is less risky considering its fluctuation rate is lower than that of the traditional stock market. Take for instance in the first quatre of 2020 while S&P 500 dropped by 23%, fine wine dropped by just 4% in the same period.
There are many criteria that determine the worthiness of a wine to invest in, factors like longevity, critic ratings, and age-worthiness should be considered.
You do not need to store the wine in your house, there exist online platforms like Vinovest that handle that for you while you continue to stock more in their warehouse and monitor the value growth of your investment.
Currency Exchange
Cost Estimate
0
Difficulty
Easy
Currency exchange is one of the lucrative online business ideas in Nigeria.
It is similar to digitising the Aboki exchange model that happens offline where you sell dollars to a bureau de change person and gets the naira equivalence.
This business requires no platform cost apart from having the funds to handle the exchange requests.
Though you can scale faster when you have your own dedicated home for taking requests, it could be a simple landing page website built on WordPress with a link to your WhatsApp chat to get requests from potential customers.
Nevertheless, you can start small by using forums and solutions connecting people that need to swap currencies, one such to use is Kyshi and there is also Kaoshi.
Gift Card
Cost Estimate
0
Difficulty
Easy
Gift card merchandising is one of the internet business ideas you can consider to make money online in Nigeria.
This is similar to currency exchange but primarily focuses on swapping gift cards for currencies.
It also requires no platform cost apart from having the funds to handle the gift card exchange requests.
Take for instance the case of Patricia, the popular cryptocurrency platform that started as a gift card exchange provider on WhatsApp helping Nigerians get the naira equivalence for their received gift cards.
While seems quiet, the gift card exchange market gets a lot of requests on a monthly basis for gift cards from popular brands like Amazon, Netflix, iTunes, American Express, and Google Play to a lot of others.
You can buy at a low and resell high. A simple WordPress website with a WhatsApp-linked account will get you started.
Many gift card trading platforms started on a small scale and you can be one in that stream if you start now.
There are also platforms that you can sign up for if you do not want to manage things yourself, though it pays less compared to handling it on your own. You can check Tbay marketplace.
eCAC Agent
Cost Estimate
0
Difficulty
Medium
eCAC agent is one of the ways to make money online in Nigeria that requires 0 to low capital to start.
It involves setting up corporate entities and getting paid while helping people to avoid the stress of registering their businesses through the corporate affairs commission.
This business operates on a prepaid model, which means you will not have to use your funds to manage the registration processes. The customers pay before you start the application.
Many people are in need of corporate accounts which require a registered CAC profile. The cost of business name registration is ₦10, 000 but you can charge as high as ₦25, 000 to handle the stress.
Though you can get started through a simple WhatsApp business account, you should also show you can be trusted by owning a business name at least.
First, learn the basics by registering the business name you intend to use yourself. This way, you will have an idea of what it involves to register for others.
It can be daunting at first: multiple rejections and queries until you finally nailed it. Once you have one registered, there are a lot of things you would have learned.
After successfully registering your company name, consider opening a corporate account, building a website and setting up a business email address for your brand.
Need Financing
Cost Estimate
$1,000
Difficulty
Medium
This online business idea is similar to loan commerce and BNPL as it also involves a payback on an installment basis.
To make money online in Nigeria as a need financier, you need to have a channel where people can request financing services.
This service can be soft credits to handle house rent payments, device financing like funds to buy a laptop, school fees loan for part-time students, etc.
Configure by Evolve Credit can also be used to handle this business: from credit assessment, and disbursements to customer management.
It is very important you have the name of your company registered, preferably a limited entity to do this business.
Build a website and set up a business email address also to handle corporate communications.
Marketplace Tutor
Cost Estimate
0
Difficulty
Medium
Marketplace tutoring as one of the ways to make money online in Nigeria is similar to creating online courses.
Though alike, being a marketplace tutor means you work on the training materials and rely on other platforms to get sales.
Typically includes online platforms where a lot of tutors create courses on different subjects and students check and review to decide which is the best for them based on factors like ratings, when the course was created, number of currently enrolled students, reviews, and others.
There are also platforms like PrepClass, and Tuteria where you can connect with students to offer physical classes or teach online, the pay is usually good as many of these platforms pay per hour.
While it requires you to make good videos and study materials being a marketplace tutor, considering running your own courses on a WordPress-powered platform will pay you more, as you do not compete with anyone for pricing and you will have full control of how you want to manage your courses.
e-Legal
Cost Estimate
$40
Difficulty
Easy
e-Legal is another option you can choose from online business ideas in Nigeria.
Basically involves you helping people to resolve their legal and compliance needs, and you do not need a law degree to handle that.
Take for instance, there are thousands of publications in newspapers weekly about changes in name, loss of items and so many others.
The processes usually involve paying the publisher some funds and then emailing the required documents needed for the publication.
As an example, it costs ₦3,000 to publish your change of name on Daily Trust and this newspaper has a new edition every single day. Imagine charging ₦5, 000 from your customer per request, which returns ₦2, 000 as your profit. With three customers per day, you will be earning ₦180, 000 monthly on name change service alone.
To start with e-Legal as an online business, build a WordPress-powered website and install the WooCommerce plugin to start selling your services.
You can enable payment collection online by registering for a Paystack account and installing its payment plugin on your website.
Travel and Leisure
Cost Estimate
$40
Difficulty
Easy
Being a travel and leisure agent is one of the good ways you can make money online in Nigeria.
The internet business ideas that fall under this niche are numerous, you can choose between helping people plan their vacations, doing tours, handling visa applications to a lot of others.
While you might be thinking you do not know how some of these work, many people make millions of naira monthly without actually doing the job.
The model is simple if you cannot handle the processes, you only need to sign up with a renowned travel agency and push your leads to them. They will in turn pay you some commission for bringing the customers.
There are reputable platforms like Wakanow that you can partner with for this idea. Sign up with trusted companies who have experience handling businesses of this nature.
You should set up a website where potential customers can get more information about your services and also, getting your business registered with CAC will come for good.
Affiliate Marketing
Cost Estimate
0
Difficulty
Easy
Affiliate marketing is another good business idea you can make money online within Nigeria.
It involves the promotion of products and services and you will get paid for the resulting sales through your efforts.
Take it like helping your friend to sell his wrist watch and he will give you some share of the money for your contribution to have helped get a buyer.
There are so many platforms where you can get items and share them for sale, including popular shopping portals like Jumia, and Konga among many others.
There is one very popular community where you can get digital products like the Product Details: 72IG WhatsApp Income Blueprint + Implementation Program called Expertnaire. And the returns on sales are usually very lucrative; if you dedicate your efforts to it, you can make some perfect money.
Though it does not require a start-up capital to build this business as with even social media accounts, the money can be coming in monthly but to increase your revenue and brand’s reputation, try to set up a blog that gives you the power to show your expertise on the field you promote its contents and products.
Content Writing
Cost Estimate
0
Difficulty
Medium
Content writing has appeared valuable in some of the ways to make money online in Nigeria on this list and it is important to state you can do it as a standalone business idea.
The subject is self-explanatory as it involves you helping in the preparation of content which then gets distributed in the form of a blog post, proposal, and contracts to a host of others.
You can make a lot of money by writing for big brands as companies explore alternative means to generate leads, with one of those being content for search engine optimisation.
There are many opened remote opportunities in content writing on job boards and gig platforms. When you get one from a very big brand, it can be life-changing as pay varies from being paid as a full-time remote employee to a contract model.
e-MLM
Cost Estimate
$10
Difficulty
Medium
e-MLM or which means electronic multi-level marketing is another means to make money online in Nigeria.
This internet business idea is similar to affiliate marketing but the difference is that MLM platforms do not accept free sign-ups. It typically involves paying some money to become a member.
It is called multi-level because you earn when new members sign up through you and also when new people join through the members you signed up. It is termed the downline income model.
This can be mistaken for Ponzi schemes where there are no defined means of generating revenue. MLM is different because platforms actually have products that the members are expected to sell for higher returns.
When you check online, some of these MLMs are into the selling of beauty to digital products. While you earn money by bringing in new members, you also gain by reselling the company’s products and services.
Audio Host
Cost Estimate
0
Difficulty
Medium
Audio hosting is one of the community-attributed ways to make money online in Nigeria.
It involves creating a community that has an interest in a particular or group of related topics and comes online to listen to audio.
This audio could be a live stream or pre-recorded and distributed through a channel known to your audience.
Areas of this online business idea include podcasting where you record and distribute the audio file or live stream through platforms like Twitter Space, Clubhouse, and others.
The money-making opportunity as an audio host mostly depends on sponsored content, where you are paid to have a brand as a host partner or get some funds to promote a brand’s product and services.
Though this is easier when you have a big following and a reputation in a particular field, you can as well be successful without any of the previous. You can make a name for yourself by hosting people who are well-known about the content of your audio, you will build yourself a reputation slowly by doing this consistently.
Stock
Cost Estimate
$10
Difficulty
Medium
Stock trading is another online business idea in Nigeria you can try.
It involves you buying shares of companies and hoping it appreciates in the future for a profit.
This internet business is full of permutations in the sense you will find yourself doing brand selection when investing. This is necessary as the return you get depends on how the company’s stock grows so, going for a big brand with a relatively high success probability is important.
There are many online stock investment platforms in Nigeria where you can buy different stocks from local to foreign companies as well as sell them whenever you want.
Brand Ambassador
Cost Estimate
0
Difficulty
Easy
Working as an ambassador to brands is one of the ways to make money online in Nigeria.
Companies are in need of people who can help them reach more audiences. You can become one of the faces of the brand towards the realisation of its goals.
With new start-ups coming up every now and then, you can make a lot of money working with them as a brand ambassador.
For instance, one of the popular ambassadorial programs in Nigeria is the Jumia JForce where people are getting paid for helping people to shop on the portal.
Drop Servicing
Cost Estimate
$40
Difficulty
Easy
Drop servicing is one of the lucrative online business ideas in Nigeria.
It involves you rendering a service that you are paid for but, you are only a middleman without the actual customer knowing.
For instance, getting paid for a web design service by a client, but you hired someone else to do the design.
This is highly profitable, depending on the niche. There are companies that operate on this model with contracts in millions while paying far less to freelancers to deliver the jobs.
To succeed in drop servicing, you must appear professionally capable of delivering value through branding. Make sure to own a website with an official email address and have a registered business where you can receive payments.
Start-up Investing
Cost Estimate
$10
Difficulty
Easy
Investing in early-stage companies is one of the ways you can make money online in Nigeria.
In the start-up world, there are funding rounds starting from pre-seed which happens at the earliest stage, then you have the other series of seed funding to grow the enterprise coming after it.
Investing in start-ups is similar to stock trading as it involves putting some funds and faith in a company hoping the future holds some fortune.
Despite their similarities, the stock is primarily for publicly traded companies (with shares listed for sale on stock exchanges) while start-up equity is for privately managed enterprises without an initial public offering.
Getting equity in a start-up can be a very profitable adventure during an exit. Take for instance, owning 0.1% of Paystack when it started in 2015 would have earned you $200k when it sold for $200m to Stripe in 2020. Assuming its valuation was around $300k in 2015, your investment value will be $3k. A net return of $197k would have been a massive fortune.
With a growing technology market, new companies are launching unique products that you can bet on for a big win. Thanks to platforms like GetEquity, you can invest as little as $10 in these start-ups that could be a big pay-off someday.
No Code
Cost Estimate
$25
Difficulty
Medium
No code is another trendy online business idea to try out.
This involves building applications without writing code but creating amazing stuff through dragging and dropping.
With no code solutions, you can create a platform as sophisticated as Twitter in a few days compared to the traditional writing code technique.
Termed also as visual programming, you can make a lot of money once you understand how it works by building applications for clients and deploying some as personal projects.
Many no-code platforms like Bubble exist where you can get your hands on to start grabbing the needed skill that will make you some money building stuff through visual programming.
UAT
Cost Estimate
0
Difficulty
Easy
UAT, which is an acronym for user acceptance testing is one of the online business ideas in Nigeria you can do to get some funds for the bills.
As a tester, you can earn varying amounts depending on the apps to be tested and the time it will take to complete.
There are many online software testing websites like PingPong where you can get matched with brands looking for people to help identify issues with their applications.
How much you will earn depends on the number of jobs you get and complete. Typically, there are testing tasks ranging from $5 to over $15 per hour and it is possible to make more than $200 monthly doing this online hustle.
Though many require you to open a PayPal account for payment, there are other channels like PingPong that can as well send your earnings to your bank account using Transferwise and other IMTOs.
Career Coach
Cost Estimate
0
Difficulty
Easy
Being a career mentor can be a good-paying online job and you can do this conveniently as a non-distracting side hustle.
Many starters need guidance on how to navigate the corporate world, and offering your experience will be a really helpful thing for them to know more about their chosen career path.
As a career coach, there are many ways you can make money online ranging from counseling, CV development, LinkedIn optimisation, creating online career courses, and selling ebooks to a lot of others.
To have an easier reach, you should create a website and invest your time in content (article publishing, creating video guides, ebooks, etc.). This will make your potential mentees or student regard you so highly.
eCommerce
Cost Estimate
$40
Difficulty
Medium
eCommerce involves you selling goods and services online.
Though this list contains online business ideas that involve some form of ecommerce, this is primarily dedicated to having an online shop where you sell goods and/or services.
Doing this internet business, you will find yourself writing product/service descriptions, cataloguing to setting SKUs and pricing for what is to be sold via your online store.
For instance, an online store that sells wristwatches will need product pictures, categorisation like women/men’s watches, attributes like straps or dial colours to other things needed to make the potential customers understand before purchasing.
The assumed difficult part of this business is bringing your products online especially when you have so many of them but if your online store runs on WordPress, you can handle bulk upload in minutes using a cataloguing plugin which is available for free on its repository.
The good thing about this business is that you can start small and grow from there when you have amazing products to sell.
Some people import items from the United States and China at very cheap prices and sell them high for profits in Nigeria through their ecommerce portals. The revenue you can make selling online can be high depending on the demand and how you handle promotions.
Coupon Host
Cost Estimate
$40
Difficulty
Easy
Creating a collection of coupons is one of the most lucrative online business ideas in Nigeria.
This business deals with finding voucher codes and hosting them in a place where users who need those codes for some benefits can access them easily.
There are thousands of monthly searches for voucher codes ranging from that needed for some discounts on Jumia and Konga, Uber, and Bolt to many other widely used services and platforms.
Coupon code hosting is an amazing way to make money online in Nigeria which can turn into a full-time job once you have garnered a wide following.
This online business is similar to having an ecommerce store but you will be focused on voucher code gathering than selling products. How you make money as a coupon host includes getting paid as an affiliate to sponsored voucher listings and display ads.
Building your collections can easily be achieved through a WordPress-built voucher store, you can easily manage and monitor your discount and bonus codes performance using a good affiliate coupon plugin for WordPress.
Friend Referral
Cost Estimate
0
Difficulty
Easy
Friendship referral is one of the easy ways to make money online in Nigeria.
If you have a very good number of friends, then you are in for some serious business in your pocket.
There are many companies that will pay you to refer your friends to their platforms. You can earn as much as ₦5,000 per friend which varies depending on the brand.
It is similar to coupon hosting as both deal with the usage of codes but to refer a friend, you do not necessarily need to sign up as an affiliate on these platforms apart from being a regular user of the services.
It is more about you recommending the products or services you like to your contacts and getting paid for doing so. It can be combined with voucher hosting to earn more money as an online entrepreneur.
Group Lord
Cost Estimate
0
Difficulty
Easy
Being a group lord is one of the easy online business ideas that can earn you a fortune.
It is similar to owning a house and renting it out. You decide if you like a tenant or not and if you want him to vacate the leased apartment or stay.
As an online group lord, you manage a community of people mostly of common interest through groups created on platforms like Facebook, WhatsApp, Telegram, Reddit, and others.
Take for instance, there is a Facebook group with over 100,000 members targeted at N-Power, the FG’s youth empowerment program created by the Buhari government. This group gets sponsored promotional content from big brands, especially buying the group’s home banner.
There are also examples of premium groups created on these platforms where you will pay before being allowed to be a member. This kind of group target people interested in skill acquisitions like learning about investments, and savings like one that became a multi-million naira company through its members on Telegram, Herconomy.
In fact, many big companies like one of Nigeria’s largest cryptocurrency exchanges, Quidax started as a WhatsApp group.
Ghost Merchandise
Cost Estimate
0
Difficulty
Easy
Ghost merchandising or commerce is another way you can make money online in Nigeria.
With this online business idea, you will be selling what you do not own.
It is similar to affiliate marketing but this time, it adds the features of ecommerce as you will be handling product cataloguing to setting markup on item cost but you do not have any traceable physical location than your online presence.
Most of the trades that result from ghost merchandising happen through classified platforms like Jiji where you post free ads and get leads for your sales effort.
Some ghost merchants ride on ads by other businesses. For instance, a ghost merchant can add ₦5,000 markup to a new ad riding on the cost price of an existing ad from another seller. Once he receives an order, he will relate with the owner of the old ad for delivery but the customer will pay based on his own cost price hence, he will get ₦5,000 from the seller that delivered the item.
Loan Agent
Cost Estimate
0
Difficulty
Easy
Helping people to access credit facilities is one of the ways you can make money online in Nigeria.
There are many loan providers looking for agents who can extend their service reach while getting paid in the process.
Earning through this online business idea can be so high as most of the providers will be willing to pay you a good percentage of the credit offered to your referral.
If you have a good network or channel for content distribution like a blog, social media account with large followings, or IM groups with good numbers, you can capitalize on that by offering them an opportunity to access short-term financing.
Getting access to loan providers can easily be handled through cold emailing where you send requests to loan companies telling them you want to recruit more customers for them as an agent.
Freelancing
Cost Estimate
0
Difficulty
Easy
Freelancing involves getting paid to resolve needs, especially with skill-based service rendering.
You can make money online through gig platforms connecting clients to individuals looking for tasks to do in order to earn some money.
The skill you can sell can range from helping with excel related tasks, photo editing, data gathering, web design, and writing to a host of others.
Freelancing can be a dream-fulfilling online business idea as it affords you to work from anywhere while defining your pricing and schedule.
Pay for tasks can range from per hour, per day to weeks depending on the job and the more satisfactory service you deliver, the higher the potential to earn more as great services encourage great ratings from clients.
Marketplace Commerce
Cost Estimate
0
Difficulty
Medium
Marketplace commerce is one of the ways to make money online in Nigeria.
It involves selling on ecommerce platforms that connect buyers to products and services from different merchants.
There are so many shopping portals that operate on a marketplace model including Jumia and Konga where you can make millions monthly selling items people are interested in.
Signing up to be a seller on these platforms is usually free with your fee having a space on the portal being a percentage cut on after-sales. That is, you only pay a small fee after you sold an item.
This business can be very lucrative if you understand the nitty-gritty of it. For instance, buying for cheap from the US and reselling them for a high profit in Nigeria.
Trade Crypto
Cost Estimate
$10
Difficulty
Medium
Trading cryptocurrencies is one of the lucrative ways to make money online in Nigeria.
We have seen digitally decentralized assets like Bitcoin, Ethereum to many others turned many people into millionaires. Thanks to how much they have amazingly appreciated the past years.
While value fluctuations around holding cryptocurrencies are highly unpredictable, holding them for the long term has seen huge payoffs. For instance, a bitcoin was worth $900 in 2016. If you bought one at that time and still hold it today, you will be worth over $30,000 today.
There are many exchanges where you can buy and sell cryptocurrencies like Binance, Buycoins, Quidax, and the rest.
Many of these platforms support the peer-to-peer model where you can get bitcoin or any other cryptocurrency in exchange for fiat (from someone within the community interested in exchanging his coin for fiat).
Book Publishing
Cost Estimate
0
Difficulty
Medium
You can also make money online in Nigeria by writing and selling books.
If you are very good at something, there is someone who is interested to pay you to help them understand that. Putting your expertise into words as an Author is a good way you can get some money into your pocket.
Book authoring can be very lucrative, many writers make over a hundred thousand naira monthly selling their books online.
There are book publishing platforms where you can get started for free, one such is Amazon Kindle Direct Publishing where you can publish your book and show it to millions of Amazon customers.
Asset Flipping
Cost Estimate
$1
Difficulty
Easy
Buying and selling digital assets is another good online business idea in Nigeria.
Take for instance domain name which is an address on the internet. For example, www.google.com which you type to access the Google search engine homepage.
So many people make a living doing this as a full-time business on platforms that fosters asset sales like Flippa.
To be successful and make money online by flipping domain names, you need to learn the art of managing good domain names. Buying great names is a skill that can return a huge payoff.
There are some domain names that you can purchase for less than $1, though most are less known third-level domain names. To be successful as an investor, target those well-known TLDs like .com, .co, and the like but even the less known TLDs can as well be profitable depending on how the domain name matches the TLD.
While domain name reselling is the most popular when it comes to flipping, there are hundreds of items you can flip.
People sell social media accounts, blogs, and online stores, and now the wave of flipping non-fungible tokens is known for its short form of NFT.
In fact, some people make money online by flip-reselling. This model involves buying a flipped item and putting it up for sale at a higher amount.
P2P Credit
Cost Estimate
$10
Difficulty
Easy
P2P or peer-to-peer credit is one of the ways you can make money online in Nigeria.
This online business idea involves financing the credit needs of individuals and getting paid at the end of the tenor.
For instance, if you finance a credit need of ₦50, 000 with a net commission of 10% at the end of 4 months, you will earn an extra ₦5, 000.
Profits on p2p credit financing depend on how much you invest but the return is usually good depending on the platform providing the escrow service.
The escrow platform provider handles disbursement and collection. You only need to put aside some money and finance by looking through the listings to know which will return the best profit if you invest in the credit needed.
There are many p2p credit financings platforms like Fint where you can start investing in community-needed loans and other credit assets for profit.
DeFi
Cost Estimate
$10
Difficulty
Easy
DeFi is another good online business idea in Nigeria you can explore.
It simply means decentralized finance where you keep your money in a secured wallet and transact with less fees compared to the centralized system of the banks and other fiat-linked financial institutions.
It uses distributed ledger similar to how cryptocurrency works but in the case of DeFi, the currencies are pegged to a fiat equivalence. For instance, 1 NGNT (Nigerian Naira Token) is always equal to ₦1, so 1 USDC always being $1.
How you can make money online with DeFi is endless, from saving it for profit, using it to invest in high-return assets, and giving it out as a loan to a host of others.
There are many platforms where you can convert your fiat to DeFi stablecoins and use it for many things, one such is Binance which is a very popular destination for digital currencies and assets-related activities.
Pre-Order Trading
Cost Estimate
0
Difficulty
Easy
Pre-order trading is one of the ways to make money online in Nigeria.
With this internet business idea, customers pay you upfront before the goods are available.
Usually, the money you will use to purchase the goods is not yours, but rather that of your customers who are interested in the items you showcased.
Most pre-order trading occurs through instant messaging and social media platforms. An instance is a WhatsApp or Instagram store that sells items for which you will have to wait for about two to three weeks to receive your order after payment.
Pre-order traders have a good idea about ordering from foreign countries for cheap and selling them for a great profit in Nigeria. They basically get pictures from the site they purchase from and show that to you.
Real Estate
Cost Estimate
$20
Difficulty
Easy
Investing in rental homes is one of the ways you can make money online in Nigeria.
Real estate is less volatile, and with a very low correlation to popular asset classes like stock, it is a great option for investment diversification.
There are many online platforms through which you can partake in the real estate economy. These platforms handle investment and property management while you watch your money grows.
Many of them operate as real estate investment trusts or partner with REITs where your money and that from other investors are pooled together which then is invested in buying and managing properties on your behalf and that of others.
Digital Marketing
Cost Estimate
$40
Difficulty
Medium
Digital marketing is a broad topic when it comes to online business ideas in Nigeria you can invest your time and resources in.
It involves some of the ways to make money online already mentioned in this guide like web designing, content writing, and social media-related activities.
While it might sound like something difficult to do, starting with a niche can help you manage the stress if you plan to be the only one on the team in the early stages. You can decide to focus on any from web design, search engine optimisation, email marketing, or social media management.
To get started as a digital marketer, it is recommended you build yourself and your brand a website. The other skills like graphic design, SEO, and others, you can hire or even outsource when needed.
e-Planner
Cost Estimate
0
Difficulty
Medium
Helping people plan activities and tasks is one of the ways you can make money online in Nigeria.
On a daily basis, people celebrate birthdays, weddings, anniversaries to a lot of other things where you can get some money into your pocket by helping them to manage the planning processes.
As an e-Planner, you can help in creating event-tagged websites for a wedding, distributing invitations through bulk SMS, creating gift registries, and many others.
For you to be a success doing e-planning on a large scale, you should have an online presence through your website and social media pages and collect clients’ testimonials as you complete deals.
Be Lazy
Cost Estimate
0
Difficulty
Easy
Wondering how you can make money online in Nigeria by actually being lazy? Yes, by doing little to nothing.
These days, a lot of time is spent scrolling through pictures on Instagram, laughing at tweet replies on Twitter, and hailing your friends on Facebook for great pictures and some of which you do when you want to catch fun.
Fortunately, you can get paid for doing these things. Like some photos on Instagram, drop some reviews on Playstore, follow accounts on Twitter, and even, help fill out some surveys, and watch random videos.
Though the pay from these activities might take some time to be that huge for you to become a full-time lazy entrepreneur, it is worth trying considering you are only earning for what normally you will do for free.
With the internet, you are home to a lot of opportunities. Once you pick one of the best business ideas on this list, chances are high for you to make money online in Nigeria.
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