10 Ideas For an Online Business That Pays In Nigeria (2024)

Undoubtedly, starting a legitimate online business that pays daily in Nigeria is possible. Most people think that to make money online, they only need to take courses and miraculously start seeing results. But they need to remember that it’s a multi-step process. 

Suppose you are tired of living from hand to mouth or relying solely on your work income. It’s time to tap into the beauty of online business in Nigeria that pays daily. This will allow you to keep your full-time job and earn from your online business. 

The best part of starting an online business is that social media is the primary tool for marketing. If you are already conversant or skilled in growing a social media audience, you’ve solved half of your problem. Meanwhile, if you’re a total beginner, you are still in luck as there is no skill you cannot learn or hire someone for. 

This article will show you how to run a successful online business that pays in Nigeria. You can make money online in many ways, but the following ten legit online businesses will pay in 2024.

Starting A Blog

Nigeria has the most active internet users (over 122 million users) in Africa, as reported by Statista. This means there is a higher chance for bloggers to make money online in Nigeria if they do it right.

Is blogging the best way for you to make money online? Let’s find out below.

Pros of Blogging

Blogging is one of Nigeria’s most popular online businesses that pay daily. Once you can generate traffic, you can generate more income through ad revenue, sponsored content, ebooks, affiliate links, training, webinars, courses, etc.

It also is the surest option to create buzz around your company and product. Visitors can explore your website anytime to see needed items or find helpful content.

Cons of Blogging

One of the most significant investments you will make to become a successful blogger is time. Blogging takes a lot of effort and time, but once your blog becomes successful, you will be happy with the effort and time you invested.

Also, It requires you to have skill sets like content creation, website development, content strategy, and SEO writing. Although blogging offers lucrative opportunities, you must consider the time and skill investments required for long-term success.

Checklist for Starting a Blog in Nigeria

The first step is to choose a niche for your blog. Niching down will help you become an authority in your industry. It allows you to attract just the right audience for the right topic. 

An example of a good niche is how to make money online or how to start a highly profitable business. If you need more ideas, you can examine your surroundings to see what people need help with most.

After that, you need a domain name for your new blog. A wise man once said Words have meaning, but names have power. You don’t have to spend much time on it, but think deeply about your name. Keep it short, and avoid using numbers. Use a domain checker tool of your choice to see if your desired domain name is available.

The next step is to secure hosting for your domain name. You can profit from your blog only if you self-host your domain. Therefore, you have to purchase blog hosting, which costs an average of $2.95/month. Some platforms even allow you a free domain for the first year. After purchasing a plan, you can install WordPress with one click.

Finally, you can choose a theme, install some plugins, and start writing content to grow your audience.

Ways to Make Money From a Blog

There are a lot of ways to start earning money after gaining an audience for your blog.

Let’s see them below:

• Google Ad revenue;
• Affiliate marketing;
• Selling digital information;
• Sponsorship;
• Selling physical and digital products.

There are more ways to earn money from a blog, like offering a paid subscription plan, but the ideas above are the most common.

Join Affiliate Marketing Programs

Affiliate marketing in Nigeria is quite tricky. Some affiliate gurus in Nigeria sell lies to people to get them to buy their courses, which is quite sad. Regardless, affiliate marketing is a legit online business in Nigeria, which if done right will allow you to make unlimited income.

Pros of Affiliate Marketing

Affiliate marketing is a home-based online business in Nigeria that pays thanks to its low startup cost. You don’t need to invest in buying products before making sales. However, you should purchase at least one product to tell your audience about its pros and cons. This is perfect for building trust.

There is no limit to how much you can earn as an affiliate marketer in Nigeria. Some affiliate marketers have made as much as millions of dollars yearly. For example, an affiliate marketer earned nearly $85,000 in 6 months from his golf site.

Selling affiliate products requires that you have an online source for traffic. It could be through organic or paid means. In addition, affiliate marketing allows you to be flexible, as you can work at any time and anywhere. 

Cons of Affiliate Marketing

Of course, with affiliate marketing, there are cons you need to consider.

Check them below:

• Time and effort to build an audience.
• Dependency on external factors like fluctuations in market trends.

You should weigh your options before diving into affiliate marketing, as it is a long-term game. 

How To Start With Affiliate Marketing in Nigeria

Niche: As always, the first step is to choose a niche for your affiliate marketing journey. It’s not compulsory to stick to the list below. You may target foreigners, so research their market and what they like. Once you have the niche, it is time to choose an affiliate program that aligns with it. 

Take the following niche ideas, for example:

Category	Niches
Hobby	Travel, sports betting, and event tickets
Money	Saving and investing
Health and Fitness	Weight loss, fitness, and nutrition
Lifestyle	Beauty, skincare, fashion, and jewelry
Tech	Web hosting, WordPress, and web development

• Find programs: Affiliate programs like ClickBank offer at least 4000 affiliate products. Examples of affiliate marketing programs include ShareASale, Jumia Affiliate Program, Konga Affiliate Program, Amazon Associates, and CJ Affiliate.
• Audience: If you have built an audience already, it would be easier to start an affiliate marketing business; however, if you are just beginning, then you are indeed a traffic source. For example, you can start posting valuable content and running ads on social media to build your audience and later introduce affiliate products. 
• Traffic: You can also start a blog, YouTube channel, or both. The more chances you get to increase your visibility online, the more options you have to sell.

In the last couple of years, many marketers have been trying to grab attention, so the best way to stand out is to create value like no one else and be authentic. Most affiliate marketers know nothing about their product; they just dub what others have said. You can be different by using the product and leaving an honest review of the product.

Sell Physical Products Online

According to Statista, Nigeria is the 40th largest e-commerce market. With Nigerians being active online, ecommerce is one of the best options for starting an online business that pays.

Ecommerce business in Nigeria is a great way to increase your visibility and earn extra income, especially if you have a physical store. It is an opportunity to build your brand and trust and find a new source of income. In conclusion, it is wise to sell online, regardless of the challenges!

How to Start Selling Physical Products Online

If you already have a niche, finding your competitive angle is next. Your competitive pitch helps you stand out from other sellers. Researching your competition is one of the best ways to approach this.

If you have an existing customer base, you can easily find more online by conducting surveys and researching your competitors. The goal here is to know where your audience is and understand their behavior so you can sell to them.

With an online store, customers can buy products via a web browser or app. This removes the limitation of having to respond manually to every inquiry. On top of that, you can quickly set up a store without creating a website from scratch. Ecommerce platforms like NEXT BASKET and others enable you to have an online store with less stress.

Also, to enjoy your business’s profits, you need to set up payment processing. You can set up an account on Geeg Pay or Grey to receive payments in foreign currency.

Start a Freelancing Business

According to Payoneer, the average earnings of a freelancer is $21 per hour. Freelancing is a legitimate online business in Nigeria that offers opportunities to make money online. If you already have skills in content writing, SEO writing, or web development, freelancing is an online business that pays.

Freelancing offers tremendous flexibility. It allows you to work in the corporate environment at your own pace and remotely. Therefore, you can turn your freelancing business into a side hustle.

Checklist for Starting a Freelance Business

It is best to start a freelance business if you already have a skill. All that is left is mastering your skills and choosing an industry. For example, if you are a writer, you must decide which industry or niche to write for, i.e., a food and nutrition writer. Consider choosing a sector you enjoy writing for + have expertise on + in demand.

Next, you need to develop a system to gain new customers. Freelancing is an online business that pays if you have a stream of clients. You must create a persona for your client before drawing out a plan to find them.

Also, do not forget about payment rates. Setting your rate as a beginner is quite tricky. Some beginners go to the extent of volunteering to gain experience. But it is up to you to decide how much time you will sacrifice to get your first paid gig.

Start Online Coaching Business

An online coach is someone who guides others to achieve their desired goals. It is a great online business option if you enjoy teaching others. According to an International Society for Performance Improvement study, coaching has a 221% ROI.

Pros and Cons of Online Coaching

With online coaching, you get to impact the lives of others. This type of business can be started with low investment and without any restrictions. Also, you can work from anywhere and at your convenience.

However, don’t forget that you can only work with a handful of clients simultaneously, except when you start an agency.

If you want to earn full-time income from an online coaching business, consider building your brand to charge a high fee from a handful of clients.

Social Media Influencing

Social media’s rise has led content creators and marketers to devise various means to earn. One of these means is social media influencing. Some influencers charge N300,000 per post, so you can see how much of profitable online businesses in Nigeria it is.

Social media influencing is another way online business pays in Nigeria. It urges you to earn while doing what you love and gives you the freedom to explore and be creative.

However, keep in mind that becoming a social media influencer requires you to always stay on trend, so you must enjoy staying active on social media.

Getting Started With Social Media Influencing

As always, first, you need to start with finding a niche. When choosing a niche for social media influencing, ensure it is an industry that you enjoy and is in demand. Well-paying social media influencer niches include beauty, travel, and food blogging.

Once you have a niche, it is time to find people who love similar topics. You should learn about their demographics, likes, dislikes, and what they love to discuss and see.

Also, try to develop a content strategy. With it, you can determine what resources you need, how frequently you will post, and the type of content you will post. If you’re into video creation, you should need equipment to increase your quality.

Social media goes two ways. You must also engage when you post, especially if you’re starting. It would help if you met new people to grow your followership.

Vlogging

Vlogging is a fantastic online business that pays. Not only can you build an audience, but you can also earn a full-time income. According to Finance Buzz, the ten highest-earning YouTubers in 2021 made about $300 million altogether.

Bright Cove also reported that videos get 1200% more shares than text and images combined. So, if writing isn’t your thing, video is the way to go.

Vlogging pros and cons

Before digging deeper, let’s find out what the pros and cons of vlogging are.

Check them below:

• It’s the best way to build a community.
• Vlogging can help build confidence as you speak in front of the camera more.
• It drives visibility for your brand and to your website.
• Vlogging has made many creators into millionaires, and you can become one of them, too.

However, it is also a time-consuming business that requires extra equipment, which equals additional costs.

How To Start Your Vlogging Journey

The most popular way to vlog these days is through a YouTube channel. However, some vloggers use their websites to vlog. You can do both or choose what works best for you. Setting up a website could be highly stressful, so many creators stick to a YouTube channel.

The best niches to create content for are those that pay well. CPM, short for Cost Per Mille (Latin for thousand), is the amount YouTube pays per thousand views. 

Some high CPM niches are Making Money Online, Digital Marketing, Personal Finance and Investments, Beauty and Makeup, Lifestyle, Food, Tech, Cars, and Gadgets. Don’t forget about the equipment that you will need. See the table below for that.

Equipment Needed for Videos

Camera, Microphone, Tripod, Gimbal, Ring light or light setup, Laptop, Editing Software

You don’t have to get every item on the list at once. Focus on the quality of your work and ways to grow your vlog.

Dropshipping

Dropshipping is a brilliant online business that pays in Nigeria. You can sell products under your brand name without a store. 

It is similar to Affiliate marketing, but with affiliate marketing, the customer goes directly to the supplier’s website. For their next purchase, they can end up going directly to the supplier. It is why more people started opting for dropshipping.

To start with the dropshipping business, you need to choose a niche. Overall, avoiding perishable goods or fragile products is best. This is to ensure the delivery of high-quality products.

Some good ideas include Baby Products, Fitness and Sports Products, Beauty Products, Home Decor, Gaming Accessories, Health and Personal Care, Clothing, and Jewellery.

You also need to find a supplier for your products. Before making this decision, consider your target audience, location, and demographic. Also, conduct price market research to price the product reasonably.

Similar to selling physical products online, you need a store where customers can find the products easily. Consider an e-commerce Nigeria solution like NEXT BASKET, which allows you to set up a store within a few minutes.

Managing Social Media for Brands

Just like social media influencing, social media management is an excellent online business idea in Nigeria. Millions of businesses now use social media as a source of traffic, which means they always need social media managers.

However, don’t forget the challenges that you might face as well:

• Taking up roles outside your jurisdiction.
• Tracking your input is quite challenging.

Building a personal brand as a social media manager is the best way to go because you wouldn’t want to do all the marketing and content creation work and only get paid peanuts. 

Information Marketing

Like online coaching business, info marketing involves providing information to others in exchange for payment. However, it allows you to earn passively. Once you sell a course or ebook, you can earn even when you sleep. Info marketing is an online business in Nigeria that pays well.

Pros and Cons of Information Marketing

Info marketing allows you to earn passive income, and it takes less time than other online business ideas in Nigeria. Also, its initial investment is low, which means that you don’t need much money to start.

As a potential disadvantage, we may mention that it requires a wide range of skills. You have to ask yourself whether you have the expertise to teach your audience. You could evaluate your years of experience and the time and effort you put in to determine your pricing.

If you are already skilled in ecommerce digital marketing services, managing this on your own should not be a problem. However, it will take extra time if otherwise. Weigh your options!

Tips for Online Business Success in Nigeria

After listing out some of the best ideas, we thought not to leave you high and dry. You should have more guidance on how to navigate your way around online business trends in Nigeria. Below, we will see some more action tips on how to start an online business in Nigeria.

Leveraging Social Media

Social media is a goldmine for leveraging online business opportunities in Nigeria. If you are committed to digital entrepreneurship in Nigeria, then you should know that you can’t joke with your social media presence. 

The first thing is to create content that you know your audience will like and grab their attention. The key is to be a consistent poster and not to give up. Rather, you should seek to be better. 

Also, make sure you engage with your follower’s posts and work with influencers. These methods can help you reach people faster. 

Building Customer Relationships

As an online business startup in Nigeria, you need strong relationships to see success. At first, it could be daunting, but as time goes on, focus on creating value to strengthen your ties with customers.

Email marketing is one of the best ways to better your relationship with customers as you get to be more personal with them. Moreover, offering help to customers quickly and intentionally draws them to you. 

Continuous Learning and Adaptation

If you wish to grow your low-investment online business in Nigeria, you need to take lessons and develop your skills. The most important thing is to apply all that you learn from the online courses or webinars you attend. 

Financial Management and Growth Strategies

It is important to track and increase your finances as proof of your business success. So, at the start, you should have a budget to optimize your spending. Then, invest earnings back into the business to let it grow. At the same time, you should find other ways to support yourself so that your business can expand. 

Finding Mentors and Networking

Mentors play an important role in taking you to the next level. You don’t need to have direct contact with your mentor. Instead, you can find a role model through books and social media and then follow in their footsteps. 

You should also engage with them online if you can and ask questions they may have answers to. Lastly, networking events in your niche or where industry experts speak will be beneficial to you.