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With the rise of unemployment in Nigeria I know a lot of people will be looking for opportunities online on how they can make extra income for themselves internationally or locally, So this article is here to give you the best business models that you can start today to make from $100 and above in 2024 which you can get started with immediately. Most of the businesses listed cost absolutely $0 to get started.
- Content creation:
Content creation is a business model where you create content on social media platforms or websites (just like this article) for your audience to gain value.The content can be in the form of video, blog post or an audio.
One of the best content creation platforms that will make you money in Nigeria is TiKToK, Facebook and Instagram. Also if you’re an audio type of person you can start a podcast on shopify or make videos on YouTube.
2. Freelancing:
You can make money online freelancing by offering your skills to clients on platforms such as upwork, fiverr, Toptal and even linkedIn. Whether you are good in writing, graphic design, coding, web development and more you can find clients who are willing to pay you from $50- $100 per-task learn more..
What i like about freelancing is that you have the freedom to charge any amount you want and also it is safe in the sense that your client cannot scam you because of the safe monitoring and payment gateway offered in these platforms.
- Blogging:
This website you are on is a blog, so blogging means providing information to visitors. You can start a blog about your hobby or absolutely anything that you find interesting to you and you want to share your expertise on that particular topic.
Blogging makes you an entrepreneur where you can expand on tap into variety of monetization techniques like integrating ads on your site, sponsored post affiliate marketing and selling digital products to your visitors. Blogging is one of the most profitable businesses you can start now.
- Affiliate Marketing:
Affiliate marketing is where you promote products or service like shoes or phones to your visitors and when they click your link and make a purchase from that vendor you will earn a commission, this commission varies from 5% to 50% depending on the vendor you promote.
Affiliate marketing is a sub category in blogging because you need to provide content to your visitors and convince them to buy a certain product or service and when they do, you will earn a commission for their purchase (Has to be through your link).
Affiliate platforms you can join from Nigeria – Konga affiliate, Amazon associate program, jumia partner and clickbank.
- AI automation:
AI automation is a new way to make money online through your skills of automation where you can help client automate their businesses, It can be making a personalized automation for them that can automatically post articles for them in their website, Post on Instagram, Post on Facebook and other social media automatically, and also generating leads/sales for their business. You can also sell your automation as a digital product on gumroad which is free.
You can render your services to your clients but first you need to learn the skills of artificial intelligence automation which you can do by signing up in make academy for free.
- YouTube Channel Automation:
I know you’ve heard of this before but there’s even a better opportunity in YouTube now that we have AI. You can create videos without showing your face that will entertain your viewers.
YouTube automation is a business and can take longer time to monetize through ads and brand sponsorship but it is very profitable in a long run with patience and consistency.
- Dropshipping:
Dropshipping is by far the safest way to make money online, Because you don’t have startup expenses.
Your job will be to set up a store (without holding inventory), market your your product on social media platforms, you can also run ads (if you want ), And when a customer makes a purchase on your store, You will buy the product from a third party producer and have them ship that product directly without you having any intervention or stress.
It is very profitable because you can buy a product for $5 and sell it for $20-$25 on your store.
Learn How to start dropshipping from A-Z
- Podcast:
By December 2024 podcast listeners are predicted to grow to more than 500 million listeners or viewers. And in Nigeria there are not many podcasts shows that keep the masses engaged so this is an untapped opportunity for you to get in quick before the rise of podcasters begins in Nigeria.
Monetization: You can earn from YouTube, sponsored deals, Offering premium content to paid members, Accepting donations and Selling merchandise to fans through an online store.
- E-commerce:
With increased online purchase over the years, it is obvious that online purchase is the future of buying and selling, a lot of people do not like the stress of going out and buying, they rather click some buttons on your phones and make purchases.
Also this is not technical stuff for business minded people because you just take your knowledge of real life business and apply it in the online space.
You can decide to make a website for your e-commerce business or take advantage of already-known websites in Nigeria like jumia and konga and make a store with them and sell your products online.
10. Cryptocurrency Trading:
You might have heard of crypto, bitcoin or Ethereum before. Cryptocurrency trading involves buying, selling, and exchanging digital assets, typically in the form of cryptocurrencies, through various platforms.
This trading operates in a decentralized market where cryptocurrencies are bought and sold through exchange platforms rather than through traditional intermediaries like banks.
Layman cryptocurrency trading explanation
When you buy bitcoin and hold for a certain period, it either gains value (profit) or loss value (loss). To make sure you are mostly in profit, you need to apply your skills of Technical Analysis, Fundamental Analysis, Risk Management and also have a trading strategy.
Wrap up
With these ideas, making money online in Nigeria is surely achievable with consistency and hard work, the sky is the limit. Just like my blog makes me $1000 each month from affiliate marketing, ads and more which is not achievable with a regular job in Nigeria. You should get started and pave your way to financial freedom.
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Which business model would you like me to dive into?