In this article, we cover the best online business ideas that pays in Nigeria.
If you want to discover the most lucrative online business ideas to start this year in Nigeria, then continue reading the post.
It is no longer new, as we have seen the rise of numerous internet millionaires who made their fortunes legitimately running online businesses. Another benefit of having an online business is the flexibility that comes with it.
Almost anyone with a basic understanding of online marketing and social media can start an online business in Nigeria. Here below is a compiled list of the top profitable online business ideas to try this year.
1. Become a smart blogger
If you think about it long term, smart blogging is on the top list of lucrative online business ideas that pays in Nigeria. Although many Nigerians are unaware of how effective blogging can be when it comes to earning extra income, especially when addressed correctly.
How many times have you used any of Google’s services? Most of it is powered by the blogs out there on the internet, which make up over 70% of all web traffic.
There is more than enough room for everyone to make money blogging, so grab a domain name and start blogging today. This idea is especially effective if you have some free time and don't want to devote full-time to an online business but want to earn a consistent income from home or wherever you are in Nigeria.
2. Start affiliate marketing
This is one of the top online business ideas that pays well in Nigeria. Basically, you'll be referring people to a particular product or service. With affiliate marketing, once you make a sale, you get paid anywhere from 3% to 50% (depending on the commission rate).
Free Download: Free Affiliate Marketing PDF Guide [Download]
3. Become a freelance writer
Freelancing can be a lucrative way to make money online in Nigeria, particularly if you have in-demand skills like writing, proofreading, and other similar tasks.
While some jobs may only be done by specialists, many other freelance jobs can be done from the comfort of your own home or over the internet.
4. Start crowfunding
Crowdfunding is a great way to make money online as it gives you an opportunity to pitch your idea directly to others. These individuals will help you fund your project, but only if they like what they see and read about.
Crowdfunding sites are usually used for creative projects like art, music, or technology. With these types of sites, entrepreneurs can present their project directly to potential investors through video or written applications.
There are a number of crowdfunding platforms available to choose from, including Kickstarter and Naijafund. Also worth checking out are Fundanenterprise and Indiegogo, which cater specifically to investors looking for early stage startups they can fund with a minimum investment.
5. Make money by flipping websites
Making money with website flipping is one of the lucrative businesses that you can start online with just a little capital.
This business involves buying and selling websites to make a profit. You can also sell websites that you have built or managed for a while.
Simply find a website that someone wants to sell and buy it from them for cheap – check Flippa.com and resell it there. You can even run an ad on their platform to find a new buyer quickly, which will make you some profit.
6. Start a dropshipping business
Dropshipping is the process of selling items online without the need to keep them in stock. This practice helps to minimize inventory costs, and as such, dropshippers can enjoy competitive profit margins with relatively low overhead costs.
If you want to make money in Nigeria but are not very familiar with internet marketing or drop shipping processes, then it would be good for you to affiliate with top dropshippers and get affiliate commissions from their efforts.
By doing this, you'll have a better grasp of how they work, making it much easier for you to invest some of your hard-earned wealth in your own personal e-commerce business.
7. Make money as a graphic designer
Graphic design is one of those lucrative jobs that never runs out of cash. If you have good graphic skills, then it can be a good source of income for you.
Most businesses (both online and offline) need graphics for their services or products. They also need assistance from an expert to create graphics for them.
If you have a creative flare or are comfortable with Photoshop or Canva, you might make money online by designing logos, mockup designs, and graphics for social media accounts and providing your skills to businesses who need graphics made.
8. Start a digital marketing agency
The Nigerian digital marketing industry is booming, with thousands of businesses getting into online marketing to advertise their brands, products, and services.
Some of its activities include social media campaigns on various platforms like Facebook, Instagram, Tiktok, buying display ads on search engines such as Google and Bing among others.
If you are seeking an online business that pays and you have some online marketing skills, then digital marketing is an excellent fit for you and can help you achieve your goals.
Social media management can also be a good online income source for you if you understand how to handle multiple social media accounts on platforms like Twitter, Facebook, Instagram, and Youtube.
You must also understand how to create content that will entice visitors to click on your links, or buy a product or service.
By conducting a thorough examination of your competitors' strategies, you will gain a better understanding of what works and what doesn't on social media.
Once you've figured out what your competitors' techniques are, try implementing them on a different platform or improving them.
10. Trade forex, or cryptocurrencies
Still on our online business ideas that pays in Nigeria. Trading forex can be profitable online venture but has always come with it own risks. If you are someone who takes risks or have experience with these form of trading, then you should try forex or cryptocurrency trading.
Trading Cryptocurrency is not really different from trading Forex in some ways. People earn a lot of money through it though (sometimes they lose too). So if that’s what you want to do, go for it, but trade wisely!
Also read: How Do You Trade On Binance And Make Money?
11. Work as an SEO consultant
Do you know about SEO (Search Engine Optimization)? If you do, then congratulations, because you have just found a very lucrative online business that pays big time.
“White hat” SEO is a marketing technique that increases your website’s visibility on popular search engines like Google without having to rely on paid ads for traffic anymore.
Working as an SEO consultant is similar to working as a contractor. You get paid to increase search engine rankings for businesses or individual websites by performing things like keyword research, on-page, off-page, and technical SEO activities.
12. Sell Ebooks on Amazon
Selling ebooks can be a good side hustle because you can sell them whenever it’s convenient for you. Ebooks are easily shareable files that are typically available online through platforms like Amazon Kindle Direct Publishing.
In essence, anyone who has written an ebook can sell it on Amazon—but how easy is it to make money doing so? Surprisingly enough, Amazon makes it fairly simple to self-publish and earn a good income by uploading your books to their platform.
Because there's no need for inventory or delivery, you won't have to spend much time—just upload it once and sell it over and over. One advantage of selling ebooks is that once someone buys one, they become invested in your knowledge, which means they are more likely to buy subsequent items from you (and tell others about them too).
13. Start Your Youtube Channel
If you’re interested in becoming a YouTuber, then why not start making money from your passion today? This online video platform is perfect for those that want to get paid for sharing their life experiences or expertise.
The process of setting up a YouTube channel and sharing your videos on it is relatively simple, so start making money online by sharing engaging content.
Just remember that if you choose to upload videos, it can take awhile before they go viral. So, be patient and keep posting engaging content.
14. Create and sell online courses
With online learning on the rise, now is a great time to create and sell your own courses. A course can be as simple as a collection of videos or PDFs, such as a tutorial on how to use specific software or how to prepare certain delicacies.
Or it could be more complex, such as an online course with video lectures, interactive quizzes and live instruction. You can sell your courses through sites like Udemy or Skillshare, or you can build your own course website (complete with free trial access) and sell directly to customers interested in what you’re teaching.
15. Start influencer marketing
Influencer marketing is a great way to make money online and is an online channel that many entrepreneurs are still trying to learn about.
There are lots of influencers you can follow, like bloggers or top YouTube creators, who can earn a good income through ads on their site or by mentioning brands they love.
You could also create your own YouTube channel and be an influencer that way! Whatever channel you choose, get started today. With a little bit of time and hard work, you could have a successful online business.
16. Make money reviewing products
You can also make money online by sharing your opinion about a product or service. There are thousands of products available around you and it would be great if people could share their honest thoughts about them through reviews, right?
You can easily set up a review website or use free online channels like YouTube to promote yourself as an expert reviewer on certain topics or categories. If done correctly, you can make good money from each review that gets published on your site or vlog.
Your audience will appreciate it more that way too and in return you make money from the vendor or as an affiliate reviewing the product.
17. Become a website designer / developer
Want to become an entrepreneur but don't know where to begin? Helping businesses create an attractive websites for their brand might just be what you can start looking into.
While it may take some liitle capital to start your own web design firm, with demand growing every year, it's a terrific way to get started and generate money online.
And, thanks to online learning platforms like Fiverr learn, Lynda and Skillshare, you can gain relevant skills quickly and easily by taking useful (and paid) courses on topics like website design, search engine optimization and online marketing.
18. Work remotely as a virtual assistant
Virtual assistants help entrepreneurs run their business on a day-to-day basis. This can include doing everything from answering emails and booking travel to proofreading documents and running errands.
Some virtual assistants have experience with your particular industry and offer specialist services, while others can be generalists who perform a wide variety of tasks for clients. If you're looking to make money as a virtual assistant, take stock of your skills and interests.
You can go to places like Fiverr to get an idea on how others are making money online as a VA. Consider immediately approaching potential employers about job openings or placing your résumé online where employers can discover it.
Online Business Ideas That Pays in Nigeria Summary
Everybody wants to be financially free, and there are lots of different ways to achieve this in a legitimate way. As you can see from the list of profitable online business ideas that pays in Nigeria above. These are not only simple to start, but they are very rewarding if you will commit to making them work.
No matter where you reside or how much money you have, these online business ideas and platforms may help you start your dream business with nothing more than an internet connection, a computer, or a smartphone. More importantly, you just need to be committed to your success and willing to go the extra mile.