It is the year 2024, and most of us live online. We get our news online, learn online and do other things online. It only makes sense that we find ways on how to make money online in Nigeria. Here are eight ways you can make money online in Nigeria.
- Post Videos on Facebook
- Writing
- Teach
- Trading in stocks, cryptocurrency and foreign exchange
- Investing
- Affiliate marketing
- Social media management
- Offering a service
Post videos on Facebook
Almost everyone knows you can make money from posting videos on YouTube but did you know you could make money from posting 1-minute or 3-minute videos on Facebook? You’re probably thinking, “that’s why there are so many short videos now on Facebook”. Yes, you can make money by posting videos on Facebook.
You Need Five Things To Be Eligible To Make Money on Facebook.
- Be at least 18 years old.
- Have 10,000 followers.
- Get 600,000 total minutes viewed in the last 60 days. Or, in the last 60 days, have 30,000 views that pass the 1-minute mark on videos that are 3 minutes longer. This can include on-demand, live, or previously live videos: This does not include minutes viewed from cross posted, boosted, or paid watch time. Also, at least 60,000 minutes of the 600,000 total minutes viewed in the last 60 days must include minutes viewed from live videos.
- The page has at least five active videos. Videos can be on-demand or previously live, but this does not include active cross posted videos.
- Have not violated any of Facebook’s community rules ever
While these might seem like a lot to achieve, think of all the videos you’ve watched on Facebook recently. Most of them were probably from people you don’t know and included things that may not be what you were looking for on Facebook.
Unlike YouTube, you don’t need to worry so much about building a large community before you can get views. Just post engaging content, get your family and friends to share it, and who knows, you might be on your way to making money.
How much money can you make on Facebook?
It depends on where people are watching your videos, how long they are watching them, and what the videos are about. You can make thousands or tens of thousands of dollars from posting videos on Facebook.
This person made almost $2,000 on a video with almost 2 million views and almost $10,000 for one with 10 million views.
Writing
Do you love writing stories? Okadabooks is a Nigerian-run website that makes it fast, easy, and free to publish books online. This is not limited to books alone but also short stories, reviews, or anything worth reading.
The best part is that Okadabooks allows users to monetize each book or short story published, which means you get paid when your publications are downloaded or read.
If you are better at writing articles, you can freelance on platforms like Upwork and Fiverr. You can find people willing to pay for articles on virtually any topic. Are you a photographer who is also good at writing about photography? You can write for a fee online.
Whatever subject area you’re skilled at writing, you can write for a fee. You can also write for brands and help them create their brand story.
Teach
The saying “those who can’t do, teach” has been rendered moot in the 21st century. More people want to learn from experts in their subject areas. The internet has made it possible to teach through many different mediums, and you can use that means to make money online in Nigeria.
You can create a course that you sell online. Your course can be about anything. It can be about teaching people how to get their dream job in 2024, can be about teaching tech skills, or how to make money online in Nigeria, or even teaching people how they can create their own course.
The audience for your course is not limited to Nigeria. There are millions of people worldwide that are learning online every day. The internet is currently the number one classroom. You make money from tapping into it.
You can create YouTube videos teaching people what you know. Whether you are an Excel guru or great at sales, you can make videos answering people’s top questions in those areas.
To get better visibility on YouTube, answer the questions many people ask in your subject area. How do you find these questions? Simply google the top questions people ask about your subject area, e.g., sales, money, etc., and make videos on those topics.
Another way to find the top questions people ask on YouTube is to open an incognito tab on a web browser, open YouTube, and start typing “how to…” or “best tips for…” and see what suggestions YouTube has in your subject area.
You can also teach directly by signing up for a tutoring agency that provides tutoring services directly to learners. You can also apply to platforms like uLesson and other agencies that offer tutoring services and get matched with students automatically.
Trading in Stocks, Cryptocurrency, Foreign Exchange
Over the last two years, the number of people claiming to teach others how they can profitably trade stocks, crypto, or forex has skyrocketed to the moon. While there are many scams, some people are making great money from trading. You just need to be really good at it.
To become great at trading risky assets like stocks, crypto, and forex, you need to spend a reasonable amount of time learning the rules of the trade. If you invest time in learning how to do it, you can make a lot of money from it.
How can you learn?
Remember the previous point about teaching? There is already so much free content online teaching people how to trade these assets. You can start learning with the free content and use platforms that allow you to trade with virtual/fake cash first before you start using your money.
As with every new thing you’re starting for the first time, start by dipping your toes in. Start with little money you can afford to lose. As you build your experience and gain confidence, you can trade more and more.
Remember, trading is a highly skilled endeavour. You can lose a lot of money if you are not careful, so tread with caution.
Investing is another way on how to make money online in Nigeria
If you’re not good at trading but are interested in making money from high-risk assets like stock and crypto, you can do so by investing. Anyone who invested in Tesla shares in 2020 and held them for the whole year made over ten times what they invested.
Those who invested in 2020 and held till November 2021 also made almost ten times their money. You can make money by finding good assets early, investing in them, and leaving them to grow over time.
You can also make a regular income from stocks that pay a regular dividend. Some Nigerian stocks that pay regular dividends include Zenith Bank, MTN, and Nestle. International companies like Universal Group and Phillip Morris also pay decent dividends.
Companies generally pay dividends at the end of every quarter. Learn more about how you can invest in stocks in Nigeria in this article.
Affiliate Marketing
If you are great at convincing people to buy things, this might be a great option. Affiliate marketing is all about recommending products to people online. You get a commission if they buy using your unique link or referral code.
To get started, you need to join an affiliate network, find products you can sell, and promote them. You can promote the products on any social medium where you have a large audience or an audience that listens to you. This includes platforms like Facebook, Instagram, WhatsApp, Twitter, TikTok, etc.
Many popular influencers you know are also doing affiliate marketing. They find good brands they want to work with, get a referral link or promo code that can give their followers a discount, and start sharing.
You can become known for always recommending the best products and building a large source of income for yourself.
Social Media Management
Are you great with using social media? Would you consider yourself a Facebook or Instagram or Twitter or TikTok guru? Or do you use those platforms long enough to understand how to get engagement? Then you can make money managing social media pages.
You can manage social media accounts for celebrities, brands, companies, etc. Many brands understand that they need people who are in tune with what happens on each social media platform to make the most out of their online presence. If you can show how well you’ve been able to use your social media to drive engagement, you can do this for others.
Offer a service
Whether you have tech skills like graphic design, or web development, or not; you can offer those services online for a fee. You can work remotely for companies within and outside Nigeria in customer service, content marketing, project management, etc.
You can offer the services you already render offline virtually and earn money from doing so. Many companies are willing to hire people from anywhere to work remotely. You can find some of those job openings on LinkedIn.
Conclusion
Whether creating content or offering a service, there are many ways to make money online in 2024. With the required skills and interest, you can find something on how to make money online in Nigeria.