Are you looking for the best lucrative business ideas you can invest your time and resources on? There are a vast number of them out there and most of them come with little or no capital.
Everyone can tap into the opportunities provided by technological innovation, it does not matter if you have used the internet before. The internet has been made simple for to quickly grab. Just know your crafts and you could be earning regularly.
According to www.statista.com, “Almost 4.57 billion people were active internet users as of July 2020 making it 59% of the world population”. This further brought a big opportunity for entrepreneurs to make money by doing what they do best. Even if you are not, it is also a chance to bring your products into the field.
Although it is not a level playing field for everyone, however, the internet is big enough for everyone to thrive. In this article, we will be discussing the best and most lucrative online business you can invest on to make money.
Like it is our usual practice, we will try to slot in online businesses with low investment as well.
If you have what it takes to run a successful blog, why not go into it either as a part or full-time basis. Before you go into it, find a niche you are good at. If you are a medical doctor, you should have a lot of topics you can write about without getting tired.
The mistake most people make is going into a niche they have little or no idea about. For instance, a banking and finance student who decides to blog on health may find it difficult to produce content from time to time.
Therefore, you need a topic you are familiar with so you will be able to deliver anytime. With your blog, there are lots of vast opportunities to make money. You can apply for Google Adsense which is the best ad network.
Other ways to make money with your blog include sponsor posts, ads placement, become a paid blogger since you have already acquired the skills, sell courses online, sell services online, or make money through Affiliate Marketing. As you begin your blogging journey, you will come across other ways you can monetize your blog.
Depending on your set up, you can make $100 or more every month as a blogger in Nigeria, if you are able to successfully implement other ways to monetize your blog, you could triple your average Adsense earnings.
2. Engage In Affiliate Marketing
Affiliate marketing is another lucrative internet business one can make money from. The term, “Affiliate Marketing” is used when a person works by promoting another person’s products or services and in return, a commission is paid.
There are a lot of companies that need the extra boost to make money, also tech companies are also not an exception. A company that accepts affiliates will always show it on their website, therefore, you can apply as one, promote it to other people who might be interested, and earn a certain percentage of the money anytime you close a deal.
You would even be surprised that some people make money as an Affiliate Marketer than they would make on Google Adsense. Meanwhile, you do not necessarily need to stay online 24/7 to make from Affiliate Marketing, you can run social media ads, or embed the links in your Blog Posts.
3. Website Design and Maintenance
With people now looking to improve their brands and popularity, being able to design and maintain websites in Nigeria will provide you with an opportunity to make money regularly.
Every business now understands the needs to secure space online, they now know the key to challenge is to provide evidence and “about us page” which can be slotted on the website. As a web designer, you have a role to play, and playing those roles means you get to meet Politicians, Schools, Individuals, or Organisations that may need your services.
To have their confidence, you must prove your ability to deliver measurable results as people will want to see what you have done and if you can deliver a good job. Once you have been able to achieve that, they will have no choice but keep you and also introduce you to another who requires your service. You can also get to do maintenance for them from time to time which also comes with extra income.
4. Make Money Writing For Clients
If you are good at putting content down, then you should consider taking writing jobs. Freelance writing is still one of the best lucrative online businesses you can engage in without investing capital.
As a writer, you can connect with webmasters, bloggers, or pages that need people who can write for them. Also, there is an online marketplace for freelance services like Fiverr. The company provides a platform for freelance writers to offer their services for sale.
As a Nigerian, you can connect with clients, do the job, get the work to them, and get paid quickly. Meanwhile, what you will be making on Fiverr would even be more than you will get from most bloggers in Nigeria. However, your writing skills should be top-notch and free of grammatical errors if you want to have bargaining power.
A first impression always lasts for long, therefore you do not want to lose a client who could have been loyal to you.
5. Digital Marketing Services
My initial thought was to use “Social Media Services” as the sub-heading because of the technicalities surrounding Digital Marketing, however, I had to decide against my own better judgment.
Digital marketing is a wider course, but if you can at least master social media marketing and content marketing which are among the part and parcels of it, this should be enough to make you a great amount of money online in Nigeria.
As a marketer, it can leave you to a difficult task of where to focus your efforts, sometimes you may need to use more words and other time, a video content but if you have already had some models, making a decision would be much easier.
Whatever your gameplans are, you need to understand how SEO works before you begin to call yourself a digital marketing expert. Even if you are a social media marketer, know the right keywords and content that could also make your work rank on search engines. This will surely make your clients happy when they see conversions. However, this could take a while compared to paid ads.
Also, content marketing is very important for social media marketing, email marketing, or media marketing. This will be needed to connect with the right audience. Regardless, if you are able to learn all classes of digital marketing, this would make you more money online as individuals and companies are always in need of Jack of all trades. Go into digital marketing if you can!
6. Sell Digital Products
If you are looking for one of the best online businesses in Nigeria that is very profitable, then selling digital products is another way you can make money online.
Everyone has a marketable skill they can put in a book or sell as online courses, the internet provides the platforms for you to get it out. It does not have to be IT skills, even Basic Life Skills can also be monetized.
Have you been blogging for some time now? You can write an ebook based on your experience and design it to reflect modern designs. When selling an ebook, always try to convert it to PDF and also make the words very readable enough.
If you can use Corel draw well, it can be used to set your page and design the ebook front cover. It also has a feature that let you convert your doc typed words to PDF file. Alternatively, you can also download “Office” from Mobile Store and convert it to PDF from here. If you are unable to access graphic design software for PC, you can use “Canva” to design your front cover.
For most writers, the difficulty is the time it takes to create ebooks or courses, after it has been created there won’t be much to do. Jst one great ebook can bring you thousands of clients if it is worth reading. You can also use it as an inducement for better monetary rewards. I have come across a caption with, “Buy and get this ebook for free”. It is all part of the strategy.
Dropshipping is one of the best business ideas online, and so easy to run. In this kind of business, you do not need to hold inventory, you are just like an intermediary between the supplier and the final buyer.
Here is how dropshipping works: customers order from your online store at a considerably higher price > you order from the supplier at a lower price using the customer’s details > the customers get products.
However, to start a dropshipping business online, you must first choose a niche. A niche you will be very comfortable with, for instance, I love gadgets so it is something I will be most interested in.
Do your research to know if more people are on it, you will always find something that is yet fully untapped. Secure a supplier, you do not necessarily need to arrange with him, just develop a good rapport with him, how quickly you will want the products to be shipped. An online store is also important for dropshipping.
In Nigeria, you can make up to NGN 20,000 every day since goods from China are always cheaper. I once got some headsets for cheap only to have it sold for almost double the purchase price.
8. Online Tutorial
Do you know a particular course, subject, or skill that you believe you can teach people? You can actually do that by providing an online lesson.
Not everyone has the time to attend physical lessons, the internet and innovation have provided several opportunities to learn all that can be learned through a virtual lesson. To succeed in this line, you must put everything you need in place together, but first, you must work on yourself especially if it is your first time starting this online business.
Remember, your students are not physically in front of you, then you need them to believe you know what you are doing. This can be achieved by planning your speech before the class and then deliver effectively with great finesse. Your course can be delivered via video, slide, article, etc but video works for most people.
Also, you need to invest in the right kind of software and hardware. A good computer, a strong internet connection, and software are also important. Not forgetting you also need a perfect environment or a workspace. First impression like I always say have an effect on people, and it is normal for your students to focus more on the settings before focusing their attention on you, therefore your environment needs to be peaceful and inviting. This can actually set the mood for the class.
In Nigeria, people are now beginning to explore studies online. Depending on your course outlines, you can make up NGN 10,000 or more daily. For instance, people taking mini importation class charges at least N3,000 per student.
9. Become A Virtual Assistant
It was recently that the need for virtual assistants rose to the top in Nigeria, and people get well paid for doing the tasks. The icing on the cake is that you could be working from home or from any place.
Your employer does not have to be in the same country as you, you can be in Nigeria and your employee is in the USA. For instance, Namecheap has several virtual assistants from different countries that help them with answers to queries and also provide solutions to their growing large customer base.
If you are a tech expert, you will be surprised to know you can make good money from the comfort of your home. There are so many business opportunities that are still yet untapped in Nigeria, you just need the right information.
10. Invest In eCommerce
Does the success of Alibaba in China, Amazon in the USA, and Jumia in Nigeria not make you dream? Every business has its own humble beginning, and you can start your own eCommerce business right here in Nigeria.
eCommerce is the next best thing. Still in doubt, if it is true or not? How about I bring Jeff Bezos into the picture. Most people are now aware that he is the richest man in the world but the question is how did he manage to acquire such a large amount of money?
Jeff Bezos’ salary is not up to $90,000, yet he became the first person on earth to have $200 Billion in his account. Most of the money is actually from Amazon, although the pandemic also helped out since most small businesses were on lock.
Jumia Nigeria is the biggest eCommerce store in Nigeria, started humbly and now one of the biggest in not just Nigeria, but also in Africa. The building takes time, start your own online store, create awareness and you will be surprised how much your brands could be worth in years to come. To make it a success, you are going to need to plan effectively and also connect with the right people.
11. Manage Brand Online Presence
Online presence has to with any proof of a person or brand that can be accessed online.
Either individual or business, it needs a capable person to be in charge of anything that relates to an online profile. A strong online presence will give businesses a boost to become better. Every business needs experience individuals that can enhance the profile of a business and also gain a reputation that will no doubt boost sales.
Businesses need this, and if you are at least good in content marketing, then you should be able to handle anything thrown at you. Also, you will need to know how to use WordPress since most company’s website are now built on it.
If you are unable to come good with all classes of digital marketing, at least concentrate on social media. Most companies need social media experts that are really experts on social media platforms.
12. Make Money Trading Cryptos
This is one of the easiest ways to make money online in Nigeria. Trading in Cryptocurrencies has made several people a millionaire without even holding a physical shop.
The idea behind cryptos trading is to buy at a lower rate and then sell at a high price. Besides, if you know how to speculate falls and rises in prices, this will help alot. As long as the market for Cryptocurrencies is still in vogue, you can always make money.
Years back, a bitcoin was sold $9, today it is worth about $1000. If people had believed in the system, most people would be rich by now but who can blame them for being too careful. However, the few who took risks and invest heavily are now super-rich. You too can still make money online trading in Cryptos.
While trading on Cryptocurrencies, ensure you know all the basics because it is quite different from your legal tender. If you are in Nigeria and need a secure wallet, Trust wallet or Luno should do just enough.
13. Forex Trading
If you have a great understanding of how Forex Trading works, this is another profitable online business with high returns one can invest in Nigeria. In forex trading, you invest by buying foreign currencies and also sell.
Being a finance student first would help you to easily adapt and quickly grab all the tricks needed to succeed in Forex Trading. Forex trading is when you exchange a currency for another in the hope that the purchased currency will increase in value.
If you are still not familiar with the terms associated with Cryptos Currencies, you can go for online courses or talk to a stockbroker to put you through. This is also a risky venture and you should be able to predict the rise and fall of currencies before investing your money.
14. Sell Photos Online
If you are a content creator or blogger, you must have seen websites that sell high-quality photos for some dollars. This can also be achieved right here in Nigeria if you know how to use your camera.
No, you do not need to get those fancied cameras, most phones are good to take a camera. Bloggers, media companies, and advertising agencies are always on the look for photos that speak what they are trying to sell.
There are lots of things around you that you can take with your camera, the hoodlums being hoodlums as usual, the busy oshodi, how sabon gari in kano looks in the night, the fancy metropolitan areas, the campus, and many more.
They all can be uploaded on your website, however, you will need to market aggressively if you want to convert sales. If you are lacking for ideas, take a peek from shutterstock.com.
15. Become A Youtuber / Vlogger
I am surprised that there are still people who believe it is impossible to make money online in Nigeria despite several evidence around them.
Do you think people just upload their videos on youtube because they need to? No, people want to make money and some are already monetizing their YouTube channel, thanks to Google. Google pays 68% of its earning to publishers. You should be on this if you have got a skill or things you want to share online.
As a beginning, I can understand it can be really challenging to become a success on youtube, most YouTubers have also passed through the phase. However, if you have a die-hard attitude and ability to improve on the job, this could be an online business that can get you that seven figures.
16. Domain Flipping Business
There is so much online businesses you can do on the internet but how will you be able to make money if you are afraid to try your hands on any of it. Domain flipping business is common in the USA, it can also be a thing here in Nigeria if you have a perfect plan. Meanwhile being in Nigeria does not mean you only deal with Nigerians. It is an online thing, so you can spread your net.
Domain flipping business is a business that involves you buying a domain and with an objective to sell it to another for a profit. To make money in this kind of online business, you need to have a clear goal. Buying all domains that come your way may not get you a buyer, you need to find a good domain that may likely attract buyers.
If possible, invest only on the .com extensions since they are the most popular ones at the moment. Also, look out for a domain that has a keyword or niche name. For instance, techblog.com would be attractive and most bloggers would love to buy it because it has “tech”.
17. Become An Influencer
You have probably been hearing the word, “influencer” which is common on Twitter Nigeria. It is not a new concept, yet not many understand the main role of an influencer.
If someone has a way of influencing the buying decision of people or have the skill to influence his or her audience to complete a particular task, such person(s) can be called An Influencer.
To become an influencer, you must gain the confidence and trust of your followings, to the extent that they are ready to interact with any of your posts. This kind of leverage comes when you have become a popular figure with them by virtue of your content or controversial posts.
It is almost similar to social media marketing which involves the approval of products. Sometimes, your role may be to make a particular words or hashtag trend either on twitter or Instagram. Individuals, organizations, and religion centers do make use of Influencer because of their influence on social media.
18. Online Food Vendor
Although, this should not stop you from running a physical canteen for people to eat. If you want to improve your income and also gain popularity, you should provide an online platform where people can order food and you have them delivered to their homes or offices.
If you are unable to provide courier services, you can link up with Jumia Nigeria and sell under them. Popular restaurants like Mr. Biggs, Drumstix, Bukka, Genesis Restaurant, Obalende Amala Joint, My Coffee, The Grill, Shawarma & Co, and Olaiya Foods are on their Jumia One Platform.
19. Transcription Services
Transcription service is also another lucrative online business that anyone can go into. Transcription is a process in which audio or speech is put into a written document or text.
This service is popular in the USA and it is a thing you can also do in Nigeria or from anywhere. All you need is to ask that the audio file be sent to you, then you can start working.
If you are short of where to get transcription jobs, you can apply at TranscribeMe, Speechpad, Tigerfish, and Daily Transcription. You can also meet with professionals like Lawyer, Doctors, or Government Official that need their audio converted into a written document.
20. Bookkeeping Business
If you are good at accounting, you can also help some businesses to manage their accounts even if you are not a qualified accountant.
Most small businesses do not have the resources to employ a full-time accountant, instead they let outsider handles it while they focus on the most important aspects of their business. This virtual business could fetch you a lot of money since they are now in high demand in every part of the world.
But in a country like ours, you will need to prove beyond doubts to clients that you truly know what you are doing. Winning over one client could you grant more clients.
21. Search Engine Optimization Service (Seo Service)
Seo is a strategy used by experts to gain more visibility on search engines rather than social media or paid ads.
Most brands with an online presence at one point in time will realize they need to rank better on search engines like Google, Yahoo, or Bing. Therefore, they need an SEO expert since not everyone understands how SEO works. But if you are able to provide that, you will be able to make some cool cash.
Since it is a continuous thing, you can earn from time to time from a particular brand or website. Services that are expected to be provided by SEO expert include on-page optimization, keyword research, and link building,
22. Offer Graphic Designing Service
This is one of the hottest top 10 profitable online businesses in Nigeria to earn money, this can surely fall under freelancing service under this thread, but I ruled against it because of the vast opportunities it can provide.
Every business needs a design, logo, or art that can express the company’s vision or goal. Therefore, if you can design graphics, you can make not less than NGN 5,000 in a day.
There are lots of graphic design software that you can use to design. However, if you have no knowledge about how it works. You can perfect the use of an app called Canva for your graphic designs.
Canva will only help you with some basic designs like logo, flyer, business card, etc but if you really want to become a professional graphic designer, you must master at least one graphic design software. I would recommend Corel draw, adobe photoshop or adobe illustrator.
23. Bulk SMS Service
Bulk SMS services can be provided to individuals, organizations, Politicians, Clerics, or Government officials who need to reach out to several mobile phone terminals. It involves the sending of mass text messages to all mobile numbers under consideration which can be nationally or internationally.
This is one of the best ways to reach out to so many people without spending a fortune. Besides, it is cheaper compared to paid ads and the conversion is better.
Imagine buying a unit at just 70k, and you sell to a client at the rate of N2 per SMS, if someone needs about 5,000 SMS units, you will be making a lot of cash.
24. Sell Data Online
Data business is now becoming a hot online business in Nigeria. As long as people still continue to use the internet, there will always be demands for data and since most people have come to the understanding that the data they get from these telecom companies are not as cheap as when they buy from Data Reseller, this gives the business a big boost.
Markets are everywhere for data reseller, you can sell on social media or even market to your friends on messaging apps like Whatsapp and telegrams. Your family members, neighbors, friends, colleagues, religious members can also buy from you.
This is one of the businesses that students, workers, or business owners can do with very little capital. Besides, you can make money daily with this kind of business
25. Website Flipping
Website flipping is one of the hottest methods employed by people to make money online in Nigeria and Africa. Website flipping means buying of websites, improve on it, and sell for a profit.
There are big markets for this business since people have come to the realization that blogging is one of the best lucrative businesses one can invest his or her time on. The sad part is that not many have the will to push on, so they resort to selling their blogs at a cheaper price, but that to your advantage anyway.
As a result, they give you an opportunity to make money since there are also people looking to buy active websites because of the stress that comes from starting one from the scratch.
If the website comes with a verified Google Adsense, you can sell between NGN 300,000 to NGN 600,000 to another. Notwithstanding, it is actually illegal to sell, buy or transfer your google adsense account to another. If Google finds out that there have been such activities which they always do, the particular google adsense account might be banned. One can still make a good cash by selling only domains and websites for a profit.
26. Translation Service
If you are able to speak or understand two or more languages, you can take up Translation Service as a Side Hustle in Nigeria. Organizations and small businesses that work closely with foreign clients may find themselves needing your service and they will have no choice than to pay you a huge fee since there are few multilingual people around.
Select about 5000 random people, hardly you will see three people that speak foreign languages. If you want to improve or learn a foreign language, you can learn for free on the internet. There are good language learning apps on the store.
27. Become An Online Consultant
If you are experienced in a particular business field or know about various technicalities surrounding a particular field, you can set up an online platform where you can help people with projecting their ideas.
Many aspiring business owners will want to be aware of the risks, difficulties, and returns surrounding a business before investing their funds. You can help with everything they need to know, how to procure the fixed assets and raw materials if needed, and the various ways to achieve desired results.
For instance, if you own or run an established hospital, then you should know about various implementations required to run another one. Therefore, someone who has the money but not the experience will be willing to pay you for your troubles.
If you are good at checking for grammatical errors in a post or article before being shared or published, you can venture into this profitable online business.
The market is still out there if you know how to play your cards well, you can help undergraduates with their project, at least they want to score high in the project, therefore they will be looking for an expert who knows how to fix common mistakes like spelling mistakes, punctuation errors, typos, or formatting issues.
Bloggers and webmasters can also use your service if you are good at what you really do. They will need some convincing before giving you a job, always keep your past works because you will be working with people that may have seen more content than you.
29. Resume Writing Service
Resume writing service has been a hot online business idea recently due to the high rate of unemployment in Nigeria. Employers and managers now demand a special kind of setting that most job applicants have no idea about.
CV speaks volume about applicants and it is the duty of resume writers to sell his or her client the best way they can to the organization as it is the first point of contact. People charge between NGN 2,000 to 15,000 per resume depending on how big your agency is.
If you are a graphic designer, you should add this to your list of service since you have already had the skill to design a page. However, you will need more than that to sell an applicant.
30. Copywriting Service
Copywriting service is a service business you can invest in and start making money regularly. A copywriter is someone with the skill or expertise to create a copy that is designed to influence an action. It could be for a product, business, organization, or brand.
To become a successful copywriter, you must be able to create something out of the ordinary which will help you to sell a product or service. A copywriter is successful when his or her advertisement promotional materials contribute to the growth of a business or brand.
However, not everyone can become a good copywriter, you must have great writing skill, and education, and creative flair if you want to stand a chance.
31. Blogger to WordPress services
A large percentage of bloggers have their blogs hosted on Google’s Platform called Blogger. Blogger is a free blogging service by Google and offers a quick way for everyone including non tech users to start their own blog. However, most bloggers are now switching over to WordPress Platform because it is the best blogging platform and for its flexibility and incredible customization.
The only issue is that if not done right, one could lose content and ranking, as a result, they need someone that will be able to switch to the WordPress platform with no loss of content and rank. If you are able to provide it, you could be making quick cash online regularly without investment, and right here in Nigeria.