The digital economy in Nigeria is booming, and there are more opportunities than ever for you to make money online. Whether you’re a student looking to build a side hustle, an entrepreneur, or a professional looking to make some extra income, there are countless ways to tap into the growing demand for online services and products.
In this blog post, we’ll explore ten profitable ways you can make money online in Nigeria in 2024. From selling digital products to offering consultancy services, each option offers great advantages based on your skills, investment capacity, and interests. We’ll also highlight their effort level, profitability, and what you need to get started.
1. Selling or Reselling Digital Products
Effort Level: Low to moderate
Profitability: High
Selling or reselling digital products is one of the most profitable ways to make money online in Nigeria. Digital products like e-books, software, online courses, or templates have a high-profit margin because you only need to create them once and sell them repeatedly without incurring production costs. If you choose to resell digital products, you’ll simply need to partner with a product creator with proven expertise, then build or find an audience to sell to. For this, it’s best to consider selling courses in an industry you are familiar with or are passionate about.
What You Need to Start
A product idea or partnership with course creators.
A platform to sell on (like Gumroad, Payhip, Selar or your website).
Basic marketing knowledge to drive traffic to your products.
2. Photography
Effort Level: Moderate
Profitability: Moderate to high
If you have a passion for photography, you can easily turn that passion into an income stream. Selling stock photos on platforms like Shutterstock, Adobe Stock, and Pixels can bring in recurring revenue. Many businesses and marketers are constantly looking for high-quality images to use in their content.
What You Need to Start
A good camera (a smartphone with a great camera could suffice).
Access to photo editing software (Adobe Photoshop or free alternatives like GIMP).
A portfolio of high-quality photos.
Knowledge of popular photo-sharing platforms.
3. Handmade or Custom Products
Effort Level: High
Profitability: Moderate to high
There’s a growing market for handmade and custom products in Nigeria, from fashion accessories to artwork and home decor. Think beadwork, tie and dye fabrics, raffia products and other forms of handmade or DIY artistry. Websites like Etsy or Instagram allow you to showcase your craftsmanship to a global audience, and locally, you can use platforms like Jumia or Konga.
What You Need to Start
Skills in a specific craft, such as sewing, painting, fabric dyeing or jewelry-making.
Access to quality materials for your products.
An online store or social media account to showcase and sell your products.
Time for production and personalization.
4. Dropshipping
Effort Level: Moderate
Profitability: High
Drop shipping is an e-commerce model where you sell products to customers, but you don’t handle inventory or shipping. Instead, you work with suppliers who ship directly to your customers. This is a popular option in Nigeria because it requires low upfront investment and can be scaled easily.
What You Need to Start
An e-commerce platform (Shopify, WooCommerce, or BigCommerce).
A niche market or product line.
Reliable suppliers (use platforms like AliExpress or SaleHoo).
Basic marketing knowledge to drive traffic to your store.
5. Services and Consultancy
Effort Level: High
Profitability: High
If you have expertise in a specific field, such as marketing, finance, or IT, offering consultancy services online can be extremely profitable. Businesses are always looking for experts to help them solve problems and optimize their operations. You can choose to do one-on-one coaching or full-fledged business consultancy, and this can be a lucrative way to make money online.
What You Need to Start
Expertise in a specific field.
A website or social media platform to promote your services.
A network of potential clients (LinkedIn is a great place to start).
Tools for video conferencing and project management.
6. Online Tutoring
Effort Level: Moderate to high
Profitability: Moderate
With the growing demand for online education, tutoring is an excellent way to make money online in Nigeria. Whether you’re skilled in academic subjects, languages, or specific software, you can find students who are willing to pay for your expertise. Platforms like Preply, iTalki, or even WhatsApp can be used to connect with students.
What You Need to Start
Expertise in a subject area.
A computer with internet access and video conferencing tools.
A profile on online tutoring platforms.
Time to plan lessons and deliver content.
7. Transcription Services
Effort Level: Low to moderate
Profitability: Moderate
Transcription involves converting audio or video recordings into written text. It’s a simple and flexible way to make money online in Nigeria, especially if you’re good at listening and typing. Many businesses, content creators, and legal professionals require transcription services to convert interviews, podcasts, or meetings into text.
What You Need to Start:
A computer with internet access.\
Strong listening and typing skills.
Access to transcription software (oTranscribe, Express Scribe).
A profile on freelancing platforms like Fiverr or Upwork.
8. Virtual Assistant
Effort Level: Moderate to high
Profitability: Moderate to high
The demand for virtual assistants (VAs) is rising as businesses and entrepreneurs seek support for administrative tasks like managing emails, scheduling, customer service, and social media management. VAs can work remotely, making this a flexible way to make money online in Nigeria.
What You Need to Start:
Strong organizational and communication skills.
A computer with internet access.
Knowledge of project management tools (Asana, Trello, etc.).
A profile on freelancing platforms to find clients.
9. Affiliate Marketing
Effort Level: Low to moderate
Profitability: High
Affiliate marketing involves promoting other people’s products and earning a commission for each sale through your referral link. In Nigeria, you can join global affiliate programs like Amazon Associates or local ones like the Jumia Affiliate Program. It’s an easy way to make money online if you already have a blog or social media following.
What You Need to Start
A platform to promote products (blog, YouTube channel, or social media).
Access to affiliate networks or programs.
Content marketing skills to drive traffic to your affiliate links.
10. YouTube Content Creation
Effort Level: High
Profitability: High
YouTube offers a great opportunity to make money online in Nigeria by creating engaging video content. Whether you’re into vlogging, tutorials, or comedy skits, YouTube allows you to monetize your content through ad revenue, sponsorships, and affiliate marketing.
What You Need to Start
A good camera and microphone.
Video editing software (such as Adobe Premiere Pro or free alternatives like DaVinci Resolve).
A YouTube account.
Consistent content creation and audience engagement.
While you explore multiple income streams, having a dedicated savings platform like Moni ensures that your earnings are not only secure but also grow over time. Moni offers easy access to savings and borrowing, providing a safety net for unexpected expenses while helping you maintain focus on scaling your online ventures. By saving regularly, you can reinvest in business ideas or simply enjoy peace of mind, knowing your finances are in good hands. Get started with Moni here.
