Business-Internet3 Comments

The internet has been with us in Nigeria for quite some time. However, its present level of popularity has been fairly recent. During its early entry into into the country, Nigerians heavily depended on cybercafe’s for their internet needs. Then, most business transactions were manual, hence low need for internet services. Substantial start-up capital was needed to start a cybercafe business. Only a handful of these cybercafe’s were available in large cities. This however is no more the case. The world has entered into an era of information technology which thrives on the internet. Nigeria is no exception to this.

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The Internet and Business

This two have become so interwoven that one cannot do without the other. Due to the popularity of the internet among Nigerians, all sorts of business are currently done online. You may want to ask what the internet portends for the future of business. With current trends in technology, there is great potential for the growth of businesses using the internet. Serving as a tool for enhancing the ease of doing business, the internet has become an all-encompassing tool for an increasing number of businesses in Nigeria.

Making Money on the Internet in Nigeria

In Nigeria, the internet has found many applications. These range from financial transactions carried out by financial institutions, administrative functions aided by the internet and so many others. With this applicability comes several opportunities for making money. Today, you can be in the comfort of your room carrying out your daily business without stepping out. The internet has created a virtual reality where the era of offices is beginning to wane. Several opportunities are now available to exploit. These opportunities for making money include the following;

1. Doing Freelance Jobs

Many companies and individuals have devised a means of significantly reducing business cost by subletting jobs. Subletting these jobs to freelancers considerably reduces costs. Employing outside help for projects has become popular. In Nigeria, There are a lot of freelance job opportunities that pay. You should consider areas like writing, website design, programming and a host of different specializations. The contracting party pays for services rendered by the freelancer (in this case, the person doing the job).

2. Consider an E-Commerce Shop

It is common knowledge that e-commerce has fully been embraced by Nigerians. Its popularity continues to grow by the day. However, the growth has not been deterred by challenges within the industry. The lack of a well planned residential address system, also adds to the challenges faced. Although this has created a challenge for e-commerce businesses, it has not affected patronage.

3. Advertise Your Products and Services

Advertising significantly increases a business’s patronage. By making your products and services public knowledge through advertisements, your business stands a high chance of witnessing a jump in patronage. Advertising can cause you money, however, there are other platforms that provide this service (advertisement) for free. Try looking up some of these free websites. Jiji.com.ng is one of such sites that will give you a head start to launching your business into the big league.

4. Forex Trading

This is an area of investment that can be very profitable. Forex trading offers an opportunity for Nigerians to trade the foreign exchange market. Having the potential to significantly increase your investments, great caution must be exercised as it comes with significant risks. It is very important that you undergo proper training and have a good knowledge on how to trade the markets. Learning the skill will greatly enhance your chances for making money.

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5. Consider Affiliate Marketing

Affiliate marketing is a great way of making making money using the internet in Nigeria. Because of this, you do not need to have your own products to start affiliate marketing. While taking advantage of marketing other people’s product, each purchase done through you earns you an income. It is however necessary that you have a thorough understanding of how it works. Jumping into affiliate marketing can lead to a haphazard business that will not bear any tangible fruit.

The above points have exposed some ways on how to make money in Nigeria. Using these tips, you will discover hidden ways of income generation you never thought possible. With the right attitude, the sky is the limit for you.

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3 Comments

  • Deji September 20, 2017

    Thanks for this write up. I’m more interested in the fifth point Affiliate Marketing, I’ve heard people talk about it but nobody has really been able to break it down for me, I would really love it if you could shed more light on how it works and how to go about it, Thanks.

    Reply

    • Feng September 20, 2017

      Thanks for the positive feedback. In answering your question on affiliate marketing, I will break it for you to the most basic detail. First what is an affiliate? An affiliate is a person who recommends the services of a merchant by writing positive reviews about the merchant’s product and sharing the merchant’s link on a blog or on social media.This is intended to attract patronage. The affiliate himself/herself does not have a product of his/her own. Writing positive reviews and sharing the merchant’s link on a blog or social media is marketing. Now, if a Mr. A sees your shared link on social media, and develops interest on the advertised product (remember the positive reviews you wrote on the product?), by clicking on the your link, and actually buying it, you automatically get a percentage (a mutual agreement between you the affiliate and the merchant) of the sales. Affiliates are only paid when products advertised by them results in a purchase. I hope my explanation is plain enough? If still confused, please don’t be hesitant to reach out.

      Reply

  • Abubakar February 20, 2019

    This article is really explanatory. I’ve been looking for it. Thanks to you

    Reply

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