In this article, we’ll explore 6 of the best ways to make money online in Nigeria and discuss what makes them so viable. Let’s jump in!

1. Affiliate marketing

Affiliate marketing might seem like one big Ponzi scheme, but it’s actually legit — big time. In fact, it’s one of the top ways to make money online in Nigeria, and you need little to no funds to get started.

But what exactly is it?

Affiliate marketing is an online business where brands (and even individuals) pay you to promote their goods or services. In other words, you receive payment for introducing clients to a product.

Here’s how to make money online in Nigeria using affiliate marketing

2. Blogging

Have you ever heard of Benjamin Dada? He’s the founder and CEO of benjamindada.com, a  tech blog that’s now one of Nigeria’s top media companies. This blog is also pretty profitable — a remarkable feat since it’s only been live since June 2018.

Here’s how you can make money online in Nigeria from blogging:

1. Find a niche. Decide if you want to do creative writing, write news articles or work on creative non-fiction. It’s totally up to you!
2. Create an account on a self-publishing blogging platform. We recommend using Medium or Substack, but WordPress is also pretty great! They’re free and easy to set up, even without a technical background.
3. Set up monetisation. If you want to earn money online by offering paid memberships and participating in platform partner programs (like the Medium Partner Program), Medium and Substack are perfect. WordPress is ideal if you want to make money from online ads.
4. Start writing. It’s essential you write for your audience, but ensure you create high-quality content. And remember to enjoy the process!
5. Publish your work. It should take a maximum of a few seconds to publish, irrespective of your blogging platform. And don’t forget to market your content on social media (and everywhere else, really) so you get more traffic.

As you’d expect, the larger your blog traffic, the more money you make!

One last thing:  while excellent writing skills are a plus, you’ll build a larger audience (and make more money) by putting out valuable, engaging, relevant and properly optimised content and resources.

3. Content creation

Content creation has been on-the-rise in Nigeria since social media platforms like Facebook and Instagram became mainstream. After all, content — especially in video form — has the world in a firm grip at the moment.

But how do content creators like Jay On-Air and The Igbo Wolf monetise their work?

Well, here’s how to make money online in Nigeria as a content creator:

1. Choose your niche. You can create content around beauty, comedy, dance, food, even education. It’s unlikely that a niche is saturated — you just have to bring your own spin to the field.
2. Select the best social media platform for your content. We recommend you pick one that you understand and that’s easy to use. You can also go for trendy options like TikTok.
3. Create and post your content. Our advice? Keep it as authentic as possible, and have fun while you’re at it!
4. Monetise your content. Try collaborating with brands and running ads. You can also partner with the platform you’re on. YouTube, for example, has a Partner Program).

We know how much of a big deal content creation is in Nigeria, and we’ve covered the topic extensively in other articles. For example, you can read all about how to make money on TikTok or learn the fine details of Facebook monetisation on the PiggyVest blog.

4. Crypto, forex and stock trading

The financial market is always a great way to make money — whether you trade cryptocurrency, forex or  stocks. And as long as you have a solid understanding of the basics (and some money to invest in the market), you can thrive as a trader. Of course, it’s easier said than done, and you’ll need to put in a lot of work to succeed.

Here’s how to make money online in Nigeria as a trader:

1. Carefully research the market you plan on trading in and get some training. Fortunately, they’re lots of paid courses that can help. You can also find free resources online or read books on the subject.
2. Open a trading account. As you’d imagine, the account you’ll create depends on the market you want to trade in. For example, you must create a brokerage account if you’re trading forex.
3. Create a trading strategy. You need a solid plan as a trader; it’s the best way to make it in the field. And remember: be as disciplined as possible.
4. Start trading and collect profits. You can withdraw your earnings directly to your bank account or reinvest it in the market. It’s up to you!

Overall, trading is pretty lucrative in Nigeria and can even help you make money daily if you’re disciplined and patient enough to do the work.

5. E-commerce

E-commerce is the online equivalent of owning a physical store — without the hassle of a heavy rent and all the benefits of the internet. After all, everyone is shopping online these days. All you need to get started is to create a virtual storefront where you can market and sell your products.

Here’s how to make money online in Nigeria from e-commerce:

1. Decide on what to sell and pick a target market. We recommend selling an always-in-demand item — like food or clothes — but anything people will buy works. You could take a page from Bemituale Favour’s playbook, who uses Pocket App to showcase Draint Urban Clothing — a clothing and lifestyle brand.
2. Find a reliable supplier for your products. You can save money by buying wholesale, but ensure it’s high quality. Of course, you can create your own products just like Mina Hartins does with Faro Candles.
3. Buy and photograph the products. Excellent product photography can go a long way in e-commerce, so don’t skip this step. In fact, you should hire a professional photographer to help, if your phone just doesn’t cut it.
4. Create an e-commerce store. You can use popular platforms (like Jiji, Jumia and Konga) to get started, but the best option is Pocket by PiggyVest. After all, it’s free and straightforward for you and your customers.
5. Register your business with the Corporate Affairs Commission (CAC). Registering with the CAClegalises your business. Plus, it’s an excellent way to let buyers know you’re the real deal.
6. Start a social media page. Marketing is a big deal when running a business — especially if it’s online — and these platforms can boost your visibility. Of course, you can also use your social media page to gather feedback and handle customer complaints.
7. Sell your products. You can make a lot of money from e-commerce, but it’s important to keep at it. And don’t forget to use a reliable delivery service to ensure your customers are happy.

PocketApp is a pretty impressive online storefront, but you can do so much more with the platform. From managing Ajo contributions to sending money and settling bills, it’s the one business app you want on your phone.

6. Freelancing

Many Nigerian creatives freelance — sometimes alongside their 9 to 5s — to increase their income. Platforms like Fiverr, Behance and Upwork help connect graphic designers, web designers, writers, proofreaders, translators, video editors and transcribers to opportunities that require their skills.