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 on online business in Nigeria, and they would start to see results. But they need to remember that it is one of the steps. 

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 Bogging

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 a 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 your content, so you can grow your audience.

Ways to Make Money From a Blog

There are a lot of ways to start earning money once you have an established 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 an online business that pays in Nigeria 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 the 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.

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

As always, the first step is to choose a niche for your affiliate marketing journey.

Take the following niche ideas for example:

• 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.

You don’t need to follow this list. 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. 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.

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. 

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 are 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 to start an online business that pay. This online business allows you to earn extra income from your physical business.

Ecommerce business in Nigeria is a great way to increase your visibility, especially if you already have a physical store. It is an opportunity to build your brand properly, build trust and find a new source of income.

However, it would be wise to go online if you already have a physical business. Regardless of the challenges, you will miss out on several opportunities if you don’t. 

How to Start Selling Physical Products Online

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

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 active and understand their behavior so you can sell to them.

An online store lets your customers buy products via a web browser or mobile app, so you don’t have to respond manually to every inquiry. This lets you quickly set up a store without officially creating a website. 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.

Selling affiliate products requires that you have an online source for traffic. It could be through organic or paid means.

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 with opportunities for making money online. If you already have a skill such as 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 in Nigeria charge N300,000 per post, so you can see how profitable it is.

Social media influencing is another way to make money online doing what you love and you have the freedom to explore and be creative.

However, have 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 in which you will enjoy creating content 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.

How to Start Your Vlogging Journey

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

Check them below:

• It’s the best way to build a community.
• It can help build confidence as you speak in front of the camera more.
• It gains visibility for your brand and drives visibility to your website.
• It is possible to become a millionaire through vlogging.

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

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

The following is a checklist of equipment you need for videos:

• Camera;
• Microphone;
• Tripod;
• Gimbal;
• Ring light or light set up;
• 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 go through you or go to the supplier. It is why more people started opting for dropshipping.

In order 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. You should also conduct price market research to price the product reasonably.

Like selling physical products online, you need a store where customers can find the products easily. Consider an ecommerce solution like NEXT BASKET, that allows you to set up a store within a few minutes.

Managing Social Media for Brands

Just as 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 are always looking for social media managers.

With it, you will have a flexible working environment and an opportunity to grow brand presence. 

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 only want to focus on your job and get paid for it.

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 compared to other online businesses. 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. Weigh your options!