It’s not easy doing online business in Nigeria. But when you find the right type – then you’re on your way to be made for life.
In this post, I will list out the profitable online businesses that pay in Nigeria.
Not Yahoo or any type of fraudulent activity. But a LEGIT business that pays daily, weekly and monthly.
Depending on the level of work you put into it, your experience and how HUNGRY and FAST you desire it.
One of the great benefits of running an online business is that it requires much less risk, location independence, freedom, and lots of other cool side effects.
You’re a boss on your own.
No early morning and late nights – except you’re working on your business. which is cool and you eat the rewards all alone, right?
Without further ado, lets get into the meat and potatoes.
Online Business That Pays in Nigeria Legitimately 2020
If you have the expertise, interest or a passion for a subject, then you can make a living off that by starting a blog about that.
This site you’re on right now is an example of online business in the form of blogging.
We are at SmartBizFreedom are marketing, blogging and eCommerce experts. Blogging and other forms of marketing are what we do for a living. It’s our expertise and passion.
We live and breathe it.
That’s why everything we do is centered around blogging and helping others attain success by starting their own profitable online business and also give them guidance on how to market sell their existing products and service.
My point here is that you can start a self-hosted blog in Nigeria (not the free one), and make money from it.
Blogging is an online business we have been doing for years and making thousands of dollars online weekly and monthly (millions in Naira). Through various monetization methods.
All from Nigeria.
This is a legitimate online business in Nigeria that pays well, and you too can start yours right now. It’s not too hard to do. Just that you’ll need the right mindset, skills, tools, and guidance.
To start a very lucrative blogging business in Nigeria, all you need is less than #30,000 for your domain (usually free from Bluehost) and hosting package.
Here is the cost breakdown for blogging. Although, the investment shouldn’t be an issue if you’re truly set to take blogging seriously.
Because this is an online asset that will keep paying you for years to come.
To this day, I still make money on a daily basis from blog posts I wrote over 2 years ago. I’m talking about hundreds of dollars here.
Another nice online business you can start in Nigeria is doing a dropshipping business. This is a business model I love so much that it doesn’t involve your handling of goods or services.
Even though it involves physical products, still no warehousing inventory management and all that.
Dropshipping basically involves the method of selling merchandise which does not require the merchant to purchase and manage inventory personally.
As a dropshipper the only thing you really need to focus on is marketing and advertising of the products in question to find buyers and make sales.
Then once the sale is made, the rest will be taken care of. Where your work is getting customers into the door.
Here is a guide on how to start a dropshipping business. It’ll help you get started.
#3: Affiliate Marketing
Affiliate marketing was one of the initial methods I made money online and more than 50% of my current online income is based on affiliate marketing.
Yes, affiliate marketing in Nigeria works, still, a lot of people think otherwise because their thought of PayPal not working in Nigeria has become a limiting factor.
It doesn’t have to be that.
Despite that, there are affiliate programs that accept Nigerians and pay directly to your bank account, Payoneer and other means.
In fact, if you are serious enough, you could find a way to open a PayPal account in Nigeria.
Affiliate marketing simply means promoting other businesses, products or services to make a sale and get paid in commissions.
If you’re new to affiliate marketing in general, then I think to check out our post on how to start your own affiliate marketing business in Nigeria.
The hardest part about affiliate marketing isn’t the application and approval process. No. The majority of affiliate programs does not require manual approval or vetting process.
You can apply now and get accepted instantly.
Wondering what the challenge is with becoming an affiliate marketer?
It is traffic.
Imagine after finally getting your unique affiliate links for the products to promote, you start looking for ways to make money by getting people to click on the link and buy your affiliate offer.
I’ve seen most people go into spammy Facebook groups or the buy and sell groups posting throwing their affiliate links hoping to make commissions.
See, it doesn’t work that way.
The ideal, profitable and the best WAY to do an affiliate business is to, first of all, treat it like a business.
Let me go deeper:
The idea of entrepreneurship has always been to solve a need, be of value and make impacts and improvements to people’s lives, right?
If whatever you sell isn’t geared towards satisfying a need, then sorry. Brace up yourself for abject poverty.
The same goes for affiliate marketing and doing any type of online business.
The affiliate products you’re trying to promote should definitely be some sort of relief to pain for a particular set of audience.
So here are the mini-steps on how to do affiliate marketing:
- Figure out an affiliate marketing niche
- Apply to products related to solving problems for people in that niche
- Provide value, educate people and enlighten then about the product through blogging, personal contact, YouTube, etc.
- When they buy – you make commissions
- Rinse and repeat
Got the idea?
This way you’re building a sustainable online business in Nigeria and beyond that will stand the test of time.
#4: Starting an Agency
Marketing agency as an online business in Nigeria entails you providing online marketing services like:
- Social media marketing and advertising agency
- Search engine optimization (SEO) agency
- PPC (Paid Per Click) agency
- Branding agency
- Web design agency
- Content marketing agency
We can’t really call a marketing agency business model is a completely online business because some part of it involves offline fulfillment.
But still, the tasks are all accomplished via an online medium, so?
Before you’ll be able to run a good marketing agency, you must have pride yourself to be so good in the chosen field and get results that speaks for itself.
Else, you won’t be able to deliver results. Which would def bring you a bad name.
If you ask me, agency work requires quite a bit of stress and if you’re not careful you might get burned out handling the various aspects of serving your clients.
But it still pays if you know your way around it. You read our post on how to start a marketing agency in Nigeria here.
#5: Mini Importation
Mini Importation business involves buying goods (via the internet) at a very affordably cheap price from China or any other country and sell it to Nigeria for great profit.
This is one of the most profitable online business models in Nigeria which at the same time requires lots of stuff needed to put in place.
It requires sourcing and spotting a winning product that can sell massively in Nigeria, getting an internet connection (of course!), valid home address, start-up capital, and a few other things.
You can learn more about this online business here.
#6: Forex Trading
Forex trading is an online business that has been on my radar for a couple of months now. This is one of the most lucrative ways to make money from home. As a student, retiree, stay at home mom, graduate or maybe you wish to make it a source to your full-time income – PERFECT!
But to be sincere, it takes a lot of learning, trials, and errors to be a good trader.
I do have a very good friend of mine who does Forex and evidently it shows on him that he’s living large.
However, I’m not into Forex and I can’t really give you the necessary advice or tips on how to go about it.
Your starting point should be looking for someone to learn from or mentor you.
Most people aren’t yet aware that they can make good money on YouTube. You can!
Although, just like every other legit business – you just have to solve a need for a targeted set of people hungry for that solution and… BOOM!
In my opinion, getting your first 100 subscribers is always the hardest, but you just have to stick to it long enough (consistency and persistence) to start making some side income from it.
YouTube is a video-based platform and it requires video-based helpful content for you to dominate.
Just the way it is for blogging, you can shoot create a YouTube channel just about anything you’re rad at. It could be a comedy, sharing niche tips, DIY videos, etc.
Then monetize your videos along the way with display ads, sponsorships, affiliate marketing, your own products or services.
Freelancing is another type of online business in Nigeria that pays NOT just only a daily or weekly basis, but hourly.
You can complete as many online tasks as possible for clients in a day and get paid multiple times as well.
Fantastic online career for anyone with skills and passion for that skill. But it’s a bit hard especially when you’re new to it and have fewer clients, no or fewer recommendations.
This is a path a lot of newbies go into when looking for ways to make money online. If you have plans going this route, just use it only as leverage to get testimonials, recommendations, build your portfolio (as an agency) and find a scalable method.
Here are some of the services you can render as a freelancer:
- Content Writer
- Graphic design
- Language translation
- Website design
- PowerPoint expert
- WordPress expert
- Video editing
- Proofreading & Editing
Since I’m not a cryptocurrency investor or someone with such knowledge – I never wanted to include this on this list of online businesses that pay on Nigeria despite having tried this business in the past and lost some money.
However, I know and I’ve also heard quite a few people making a killing buying and selling different cryptos.
According to IncomeNinjas, here are the ways you can make money from Cryptocurrency:
- Buying and holding
- Buy and hold for dividends
- Day trading
- Staking Cryptocurrency
- Currency and exchange arbitrage
One thing I know about this method of making money online is that it requires you to learn the ins and outs of how things work. If possible, from someone who’s already into it.
Else, you’re sure to lose a lot of money trying to do it all by yourself.
If you ask me, I’d tell you that the risk involved in Crypto business is high. Because you don’t have total control of the market.
You just have to play, stay educated and updated about the trends.
Which is The Best Type of Online Business in Nigeria?
If you are entirely new to the online business world, the best type of online business I can recommend is becoming an affiliate.
Why do I recommend affiliate marketing?
Because starting with affiliate marketing lets you understand how to market products and services using diverse marketing tactics and:
- It requires a little investment
- You don’t have to create or build a product
- You’re in control of your income
- Your earning potential is unlimited
- When built over time, it becomes passive for life
Affiliate marketing is one of my favorite types of online businesses. That does not mean you shouldn’t engage in anyone on this list that motivates you.
Just make sure you’re executing while trying to learn.
I hope you found this article helpful?