Why Nigerians Should Make Money Online
The Nigerian economy has been unstable in recent years, and the unemployment rate is high. With the COVID-19 pandemic, many businesses have shut down, and job losses have increased. As a result, many Nigerians are looking for alternative sources of income to sustain their livelihoods. Making money online offers a great opportunity for Nigerians to earn a decent living, and here are some reasons why Nigerians should consider making money online.
Flexibility: Making money online offers the flexibility to work from anywhere at any time. Nigerians can work from the comfort of their homes, which saves them the stress of commuting and dealing with traffic. They can also set their own working hours, which allows them to take care of other commitments like family, education, and hobbies.
Low Startup Costs: Starting an online business or working online requires minimal startup costs compared to traditional businesses. This is because online businesses do not require physical stores, and the costs associated with rent, utilities, and other expenses are significantly reduced.
Increased Earning Potential: The internet offers unlimited earning potential for Nigerians. With the right skills and knowledge, Nigerians can make a decent income online, which can even surpass their income from traditional jobs.
Now that we have established why Nigerians should consider making money online, let’s dive into the opportunities available.
Freelancing
Freelancing is one of the most popular ways to make money online in Nigeria. Freelancers offer their services to clients around the world, and they are paid for their expertise. Nigerians can offer a wide range of services as freelancers, including writing, graphic design, web development, social media management, and virtual assistance, among others.
To get started, Nigerians need to identify their skills, create a portfolio, and sign up on freelancing platforms like Upwork, Fiverr, or Freelancer.
Online Trading
Online trading involves buying and selling goods and services online. Nigerians can sell products on online marketplaces like Amazon, Jumia, or Konga. They can also start their e-commerce website, where they can sell their products directly to customers.
Online trading requires some startup capital, but the profits can be significant with the right strategy and marketing techniques. Nigerians can also consider dropshipping, where they sell products without owning inventory.
Affiliate Marketing
Affiliate marketing involves promoting other people’s products and earning a commission for every sale made through their unique affiliate link. Nigerians can sign up for affiliate programs on platforms like Amazon Associates, Jumia Affiliate, or Konga Affiliate, among others.
To succeed in affiliate marketing, Nigerians need to have a solid online presence and promote products that align with their niche. They can promote products through their blogs, social media, email marketing, and other marketing channels.
Online Tutoring
Online tutoring is a great opportunity for Nigerians who have expertise in specific subjects or skills. Nigerians can offer their tutoring services to students around the world and earn a decent income.
They can offer tutoring services on platforms like Chegg, TutorMe, or Wyzant. They can also start their online tutoring business by creating a website or using social media to promote their services.
Content Creation
Content creation is another popular way to make money online in Nigeria. Nigerians can create content for different platforms like YouTube, TikTok, or Instagram and monetize their content through ads, sponsorships, or merchandise sales.
Nigerians can also start their blogs or podcasts, where they can create content around their passions or interests. They can monetize their blogs through ads, affiliate marketing, or sponsored content.
Online Surveys
Online surveys offer a simple way for Nigerians to earn extra cash. Companies are always looking for consumer feedback on their products or services, and they are willing to pay for it. Nigerians can sign up for survey sites like Survey Junkie, Swagbucks, or Vindale Research and start earning.
While online surveys may not provide a steady income, they are a great way to earn extra cash in their spare time.
Top Platforms for Online Work
1. Freelance Marketplaces
- Upwork: As one of the leading freelance marketplaces, Upwork connects professionals with clients seeking their expertise in various fields, such as web development, graphic design, writing, and more.
- Fiverr: Fiverr offers a wide range of services, from digital marketing to video editing, and allows freelancers to create custom gig packages for clients to choose from.
2. Online Teaching and Tutoring
- Teachable: Teachable is a platform that enables Nigerians to create and sell their own online courses, covering subjects such as programming, photography, and entrepreneurship.
- VIPKid: VIPKid connects English-speaking teachers with students in China for one-on-one English language lessons.
3. Remote Job Boards
- Remote.co: Remote.co is a job board dedicated to remote job opportunities in various fields, including marketing, software development, and customer support.
- FlexJobs: FlexJobs is a subscription-based job board featuring remote, freelance, and flexible job opportunities across multiple industries.
Technical and operational barriers and their solutions:
Over the years, the internet has presented a vast array of income opportunities for people in Nigeria. However, despite the numerous opportunities available, some technical and operational barriers hinder Nigerians from maximizing their earning potential online. In this article, we will discuss some of the barriers and provide solutions to help Nigerians overcome them.
Limited Internet Connectivity
One of the significant barriers to earning an income online in Nigeria is limited internet connectivity. Many people in rural areas have limited access to the internet, making it difficult to take advantage of online income opportunities. The cost of internet data is also high in Nigeria, making it unaffordable for many.
Solution: The Nigerian government has made efforts to address the issue of limited internet connectivity by launching the National Broadband Plan (NBP) in 2013. The plan aims to provide affordable and reliable broadband access to all Nigerians. In addition, there are various initiatives by private companies, such as MTN Nigeria and Airtel Nigeria, to provide affordable data plans to Nigerians. Some examples of affordable data plans in Nigeria include:
- MTN Nigeria’s Pulse Plan: This plan offers affordable data rates for social media platforms such as Twitter, Facebook, and Instagram.
- Airtel Nigeria’s SmartCONNECT: This plan offers double data on every recharge and affordable data rates for internet browsing.
Lack of Digital Skills
Another barrier to earning an income online in Nigeria can be the lack of digital skills
Solution: There are various online courses and platforms available to help Nigerians acquire digital skills. Some examples of these platforms include:
- Google Digital Skills for Africa: This is a free training platform that provides courses on digital marketing, website creation, and other digital skills.
- Udemy: This platform offers a range of online courses on various digital skills, including web development, digital marketing, and graphic design.
- Coursera: This platform offers courses from top universities and organizations on various digital skills, including social media marketing, search engine optimization (SEO), and data analytics.
- Khan Academy: Khan Academy is a non-profit organization that offers free educational resources on a variety of topics, including math, science, history, and more. Khan Academy’s resources are designed to be accessible to everyone, regardless of their background or level of education.
- Codecademy: Codecademy is an online learning platform that offers interactive coding tutorials. Codecademy’s tutorials are designed to be fun and engaging, and they cover a variety of programming languages, including Python, JavaScript, and HTML/CSS.
- Free Code Camp: Free Code Camp is a non-profit organization that offers free coding bootcamps and resources. Free Code Camp’s bootcamps are designed to help people learn the skills they need to get a job in web development.
- The Odin Project: The Odin Project is a free, open-source curriculum that teaches web development. The Odin Project’s curriculum is designed to be comprehensive and challenging, and it covers a variety of topics, including HTML/CSS, JavaScript, Ruby, and Rails.
- Skillshare: Skillshare is an online learning platform that offers classes on a variety of creative and technical skills. Skillshare’s classes are taught by experts in their field and are available for purchase or rent.
- LinkedIn Learning: LinkedIn Learning is a subscription-based online learning platform that offers courses on a variety of business and technology topics. LinkedIn Learning’s courses are taught by experts in their field and are designed to help people advance their careers.
- edX: edX is an online learning platform that offers courses from top universities around the world. Courses on edX are typically free to audit, but you can pay to earn a certificate of completion.
Payment Challenges
Payment challenges are another significant barrier to earning an income online in Nigeria. Many online income opportunities require payment in foreign currencies, which can be challenging for Nigerians to receive. Additionally, there are issues of fraud and security risks associated with online payments.
Solution: Various payment platforms and solutions can help Nigerians overcome payment challenges. Some examples include:
Paystack
Paystack is a Nigerian payment platform that offers secure online payments and a range of payment options, including cards and bank transfers. It is an excellent option for Nigerian businesses and online workers who need to receive payments from clients in Nigeria and abroad. (https://paystack.com/)
Flutterwave
Flutterwave is a payment solution that allows Nigerians to receive payments from anywhere in the world. It supports over 150 currencies and offers various payment options, including card payments, bank transfers, and mobile payments. (https://flutterwave.com/)
PayPal
PayPal is a widely recognized payment platform that allows Nigerians to receive payments in foreign currencies. It is a popular option for online workers and businesses that need to receive payments from clients in the US and Europe. (https://www.paypal.com/ng/home)
Payoneer
Payoneer is a global payment platform that allows users to receive payments from clients all over the world. It is an excellent option for online workers who need to receive payments in multiple currencies. Payoneer offers features like prepaid Mastercard, ACH bank transfers, and more. (https://www.payoneer.com/)
Transferwise
Transferwise is a global money transfer service that allows users to send and receive money quickly and cheaply. It is an excellent option for online workers who need to send money to family and friends in Nigeria. (https://transferwise.com/)
Flutterwave (for businesses)
Flutterwave is a Nigerian payment platform that allows businesses to accept payments online and in-store. It is a good option for Nigerian businesses that need to accept payments from customers all over the world. (https://flutterwave.com/)
Paga
Paga is a Nigerian mobile money platform that allows users to send, receive, and spend money on their phones. It is a good option for Nigerians who need to send money to family and friends in Nigeria. (https://www.mypaga.com/)
Stripe
Stripe is a global payment platform that allows businesses to accept online payments. It is a good option for Nigerian businesses that need to accept payments from customers all over the world. (https://stripe.com/ng)
Mercado Pago
Mercado Pago is a Latin American payment platform that allows businesses to accept online payments. It is a good option for Nigerian businesses that need to accept payments from customers in Latin America. (https://www.mercadopago.com.ng/)
Alipay
Alipay is a Chinese payment platform that allows businesses to accept online payments. It is a good option for Nigerian businesses that need to accept payments from customers in China. (https://intl.alipay.com/)
WeChat Pay
WeChat Pay is a Chinese payment platform that allows businesses to accept online payments. It is a good option for Nigerian businesses that need to accept payments from customers in China. (https://pay.weixin.qq.com/index.php/public/wechatpay)
Viber Pay
Viber Pay is a global payment platform that allows businesses to accept online payments. It is a good option for Nigerian businesses that need to accept payments from customers all over the world. (https://www.viber.com/en/business/viber-pay)
In addition to traditional payment methods, cryptocurrencies can provide another option for Nigerians to receive payments online. The following are the benefits of using cryptocurrencies for receiving payments:
- Elimination of intermediaries such as banks, which can be difficult for many Nigerians to access.
- Faster transaction times and lower transaction fees, making it a more efficient and affordable option for online payments.
- Cryptocurrencies can provide a more secure and transparent way of conducting online transactions.
- They offer an innovative and accessible way for Nigerians to receive payments online, especially for those who do not have access to traditional banking systems.
- It is decentralized. Cryptocurrency is not subject to government or financial institution control, which makes it a good option for Nigerians who are looking for a way to get paid that is not subject to government restrictions.
- It is global. Cryptocurrency can be used to send and receive payments anywhere in the world. This makes it a good option for Nigerians who need to send or receive money from people outside of Nigeria.
To receive payments using cryptocurrencies, Nigerians need to set up a digital wallet and have the sender transfer the cryptocurrency to their wallet. They can then convert the cryptocurrency to their preferred currency and withdraw it to their bank account. While cryptocurrencies can be volatile, they offer a promising alternative for Nigerians to receive payments online.
Language Barriers
Language barriers are a significant challenge for Nigerians who want to earn an income online. Many online income opportunities require proficiency in English, which can be a barrier for Nigerians who speak other languages.
Solution: Nigerians can overcome language barriers by taking English language courses or using translation tools.
Some examples of English language courses available online include:
- EnglishCentral: This platform offers online English language courses that help learners improve their reading, writing, and speaking skills. (https://www.englishcentral.com/)
- Duolingo: This platform offers free online language courses, including English, that help learners improve their language skills. (https://www.duolingo.com/)
- Memrise (https://www.memrise.com/): Memrise is another free app and website that offers language learning courses in over 200 languages.
- Babbel (https://www.babbel.com/): Babbel is a paid app and website that offers language learning courses in over 14 languages. However, they do offer a free 7-day trial.
- italki (https://www.italki.com/): italki is a website that connects you with native speakers of the language you want to learn for online tutoring.
- Tandem (https://www.tandem.net/): Tandem is a similar website to italki, but it is completely free.
- HelloTalk (https://hellotalk.com/): HelloTalk is another free app and website that connects you with native speakers of the language you want to learn for online language exchange.
- Clozemaster (https://www.clozemaster.com/): Clozemaster is a free website that helps you learn a language by filling in the blanks in sentences.
- Forvo (https://forvo.com/): Forvo is a free website that allows you to listen to native speakers pronounce words in over 300 languages.
- Wiktionary (https://en.wiktionary.org/wiki/Main_Page): Wiktionary is a free online dictionary that offers definitions, pronunciations, and example sentences for words in over 300 languages.
- Linguee (https://www.linguee.com/): Linguee is a free online translation dictionary that offers parallel translations of words and phrases in over 20 languages.
- DeepL (https://www.deepl.com/en/translator): DeepL is a free online translation service that offers high-quality translations in over 20 languages.
- Google Translate (https://translate.google.com/): Google Translate is a free online translation service that offers translations in over 100 languages.
- Microsoft Translator (https://www.microsoft.com/en-us/translator): Microsoft Translator is a free online translation service that offers translations in over 60 languages.
- Yandex Translate (https://translate.yandex.com/): Yandex Translate is a free online translation service that offers translations in over 90 languages.
- Bing Translator (https://www.bing.com/translator): Bing Translator is a free online translation service that offers translations in over 60 languages.
- DeepL (https://www.deepl.com/en/translator): DeepL is a free online translation service that offers high-quality translations in over 20 languages.
Lack of Trust
The lack of trust is another barrier to earning an income online in Nigeria. Many online income opportunities require Nigerians to interact with people they do not know, which can be challenging due to the prevalence of scams and frauds online.
Solution: To overcome the lack of trust barrier, Nigerians can take the following steps:
- Research and verify the legitimacy of any online income opportunity before participating.
- Use trusted platforms for online income opportunities, such as Upwork, Fiverr, and Freelancer for freelancing, and Shopify, Etsy, and Amazon for online trading.
- Use escrow services or payment platforms that offer secure payment options.
Lack of Access to Technology
Access to technology is another barrier to earning an income online in Nigeria. Many Nigerians do not have access to computers or smartphones, which are necessary tools for online income opportunities.
Solution: There are various initiatives and platforms available to help Nigerians overcome the lack of access to technology. Some examples include:
- The Lagos State Government e-Access Project: This initiative provides computer centers in various locations across Lagos state, giving Nigerians access to computers and the internet. (https://lasgeda.com/e-access/)
- Computer Village: Computer Village is a technology market located in Lagos that provides affordable access to smartphones, laptops, and other tech gadgets. (https://computervillage.ng/)
- Konga: Konga is an online marketplace that provides affordable access to smartphones, laptops, and other tech gadgets. (https://www.konga.com/)
In conclusion, while the challenges that Nigerians face when trying to earn an income online are numerous and diverse, the solutions provided in this article can help Nigerians overcome them and take advantage of the numerous income opportunities available online. By taking advantage of the available initiatives, platforms, and tools, Nigerians can break down the barriers and create a better future for themselves and their families.
