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Are you in search of the awesome ways to make money 2023, then this blog is for you.
Side hustles can amp up your money game and increase your passive income as well as your active income. Read this to learn more about how to make money online in Nigeria.
IntroductionNigeria is home to the largest economy in Africa and has an ever-increasing GDP. While this is a positive, Nigeria is fighting a sapademic! Inflation persists at double-digits which has led to the devaluation of the Naira. Additionally, the unemployment rate stands at roughly ~10%. While there may not be full-time jobs to suit your preference, the gig economy is certainly thriving! You can try your hand at multiple skills and make money online in Nigeria.
Put your talent to use and read this article to learn how to make money online in Nigeria.
10 ways to make money online
To make money online, in the comfort of your home – you need access to a computer and an internet connection.
Read to learn more about different ways to make money.
1. Online commerce business
One of the best ways to earn money online in Nigeria is by selling stuff online. You can thrift clothes and furniture from your own home. Otherwise, you can look to purchase products wholesale to sell them on a retail forum. Try and ensure that your products sell on multiple platforms and marketplaces to increase visibility. If you enjoy this process, you can explore expanding into a reseller business.
This is a medium-effort idea and you will require different products to feature in the marketplace.
2. Social Media Marketing
There are billions of social media users on the planet. Social media marketing is a key pillar of digital marketing and the need for creative, innovative yet analytical professionals to execute this feat is on the rise. If you engage in social media and have a flair for writing and an analytical mind – you can earn thousands of dollars every month working in the space.
Once you build enough skills through an online course or practice, you will have the freedom to choose the projects that excite you the most with the clients of your choice. There is a minimal investment required to get started with social media as a side hustle to make money online.
3. Investing in dollars
With soaring inflation rates and inaccessible banks, you should explore dollar savings as an alternative to centralized financial institutions. These digital assets can be a great hedge against inflation and are decentralized. Additionally, this is an upcoming asset class so one can expect to see sizable returns in the long term. As a beginner, you can explore stablecoins and make returns on your investment.
4. Create an online course
Upskilling can take you places in your career. This should explain the demand for creating courses online. You can impart knowledge and expertise through an online course. This will position you as a thought leader in your community of like-minded individuals. To succeed, you have to choose the right subject matter and test your idea extensively. The key to earning money is based on the value you provide to your community along with the pricing strategy you put out for the online course. You can create courses on platforms like Udemy to generate passive income.
5. Write ebooks
Ebooks are some of the most convenient marketing tools available to individuals and businesses. You can create an ebook once you have clarity on your target market along with clarity on the knowledge base you have in mind. Hosting your ebook on different platforms for a nominal price can create a passive income stream.
6. Invest in real estate
As you pool more money towards tangible goals, you can explore investments in real estate to boost your sources of income. For a beginner starting with this asset class, REITs are reliable investment options.
7. Start a podcast
We live in a time where monetizing your thoughts is possible, as long as you can assign a certain quality of production value! You can start your podcast and create content for listeners across the world. You can earn money from paid ads, listener donations and premium episodes.
8. Build an audience on social media
Additionally, you can build an audience on social media and become a part-time social media influencer. Social media influencers are on the rise. Earlier, you would need hundreds of thousands of followers to bag brand deals. Now, brands are willing to collaborate with influencers who have a few thousand followers. Social media influencers earn money through brand deals, collaborations and also by launching their businesses. Being an influencer requires consistency with content creation and a decent production setup to get started.
9. Freelance content services
You can freelance in any domain and earn money on the side. Explore Upwork and Fiverr to see different gigs related to freelance content services. Content services like copywriting, content writing and SEO are very popular. You can also extend the same service to social media marketing. These are writing gigs you can finish in a matter of a few hours.
10. Answer surveys online
Beyond freelance services, you can answer surveys online and earn rewards. Platforms now allow you to take online surveys, read emails, and play video games in exchange for freebies or coupons. Additionally, answering surveys is meaningful. They help businesses design better products that match the end user.
•Test apps and websites to share feedback
In addition to answering surveys online, you can also test apps and websites for big businesses to share feedback. Several online platforms incentivise users to share feedback. This is a quick and easy way to make additional income on the side.
Conclusion
These tips should help you with insights on how to make money online in Nigeria. Side hustles allow you to build on an additional income stream that does not coincide with your primary job. If you run into issues based on market conditions or otherwise, you still have other sources of income to rely on. Additionally, reducing your dependence on one primary source will allow you to build a cushioning in case face an unforeseen event.
FAQs
1. How can I make money online with just my phone?
With the boom of the internet, you can make money from your phone at any given moment, from anywhere. You can work the hours your wish to work. You can carve your path to financial freedom on your terms.
2. How can I make money online directly to my bank account?
There are several gigs you can take up to earn money online. These avenues will credit the money to your bank account at appropriate intervals.
3. Which app gives free money in Nigeria?
Platforms or apps can only pay or incentivise you once you complete a certain task. No app or platform hands out free money.
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