With a little knowledge of digital marketing and social media, almost anyone can launch a business online and get it up and running in only days. In this post, we have put together a list of the most Growing Online Business ideas in Nigeria anyone can start in Nigeria with very little capital investment.
According to a report by NCC in June 2017, Over 91 million of 184 million Nigerians uses the internet This opens up a great opportunity to succeed in Online Business in Nigeria.
If you are not running an online business, you miss out. According to various researches that have been published, people are spending more time on the internet than anywhere else. That opens up a great opportunity to succeed in business online in Nigeria. Below is the list of online investments and businesses in Nigeria that have a high growth rate daily.
The benefits of online business with an online business, you can work from anywhere you want. You can work on your own schedule. You don’t need any special business or marketing experience to start an online business in Nigeria. Whatever you need to learn in order to run your business.
In this article, you’ll learn the top 10 best Growing Online Business in Nigeria that pays well and daily in Nigeria most especially for students, youth corps members, and if you’re a 9-5 employee, you can take advantage of the opportunities in some of these online businesses.
Top 10 Online Business in Nigeria that will Earn You passive Income Daily in 2022
1. Start ECommerce Business In Nigeria
Ecommerce, also known as electronic commerce or internet commerce, refers to buying and selling goods or services using the internet and transferring money and data to execute these transactions. This means that you can sell things on the internet and get paid for the stuff you sell.
All you need is a website. Once the site is up and running, you can list the product and start selling it. As you grow traffic, the sale will automatically increase. You could sell actual products or sell a service like writing, voice-over, and so much more. With e-commerce, there is no need for a physical space like a shop which means no need to spend money on acquiring a shop or an office. You can do this from the comfort of your home.
2. Create & Sell Digital Products Business In Nigeria
The beauty of selling digital products is they require next to no physical cost, only the mental labour of creating and your time. And they tend to be cheap. Digital products are anything that can be downloaded online as a digital file.
They range from E-books to online courses and printables.
You can easily create an online store with Paystack or Flutterwave to sell your digital products in Nigeria. You can even target international customers. There is no ceiling, all you need is to put on your creative hat and be dedicated.
3. Start a Domain & Website Flipping Business In Nigeria
Domain flipping is when you buy a domain name with the intention of selling it. The same thing goes for websites.
Domain and website flipping is a decent way to make money. If you buy a good domain name you can make a handsome profit from it. A domain name is a website address, for example, **koboline.com.ng**. People are willing to pay a considerable amount of money for domains they want that other people have.
You can buy domains from domain registrars like Namecheap and Hostgator. You can advertise on the domain itself that it’s for sale or list your domains on sites like Sedo and Namejet where potential buyers come to.
To find good domain names ideas you can use geographical names, potential business names and keep an eye on social and business trends.
Flipping websites is less straightforward than websites. For you to be able to flip a website, it has to have a high value which is usually based on the amount of traffic that comes to the website.
4. Create and sell online courses/e-books
If you’re already an expert in any topic, you can package that knowledge into a high-value course or e-book and sell it online to people that are seeking the knowledge that you’ve acquired.
This type of online business is best regarded as passive income because you continuously make money for years even after publishing it. Once the upfront time and effort is put in, with just a bit of regular upkeep and marketing you’ll be able to continue to sell and make money from them.
5. Start A Youtube Channel (Vlog)
You can make money from youtube even if you don’t have millions of subscribers. As with every business, one of the biggest keys to building a profitable business is understanding your target market and actually creating videos that they will want to engage with.
On average YouTubers can make between $0.10 to $0.30 per view. On average, A YouTuber earns $18 per 1000 views. So if you create 1 video in a week and 1,000,000 see it you’re likely to be paid $18,000 for the week. Youtube is a numbers game and success really begins at 1 million subscribers.
If you’re going to start a Youtube channel, I recommend you be in it for the long haul and make sure you pick the right niche.
6. Start a Blog
A blog is a trusted online business model. People have earned a lot through blogging and more people continue to earn till this day. A gazillion searches are made on Google every day. Imagine if you could capture the monetary value of 0.01% of these searches?.
Create awesome content that your target audience is looking for and the traffic will come. Of course, you need to do the things that need doing. Like SEO, keyword research and picking a monetisable niche. Make sure whatever your blog is about that you’re really interested in it and you’re in it for the long term.
The more content you create for your blog the more your site traffic will grow, the more your earnings will increase. You can monetize your blog through Ads, digital/physical products, Affiliate marketing and even sponsored posts.
7. Earn Money From Forex & Crypto Trading
There is no hot online business other than Forex trading right now, especially if you have a great understanding of the exchange market. People make thousands of dollars in trading currencies online. You know that statement of “let your money work for you while you sleep” well in Forex, it’s true. You can enter a trade online, sleep, and wake up to profit.
Though it’s not advisable for everyone because of the high risk involved, you need to learn this thoroughly if you want to start this business. You should always try with small amounts before you become confident and ALWAYS REMEMBER TO TRADE MONEY YOU ARE WILLING TO LOSE. Don’t use your house rent to trade; you will sleep under the bridge.
8. Teach Online Courses
If you’re an expert in a particular field or very knowledgeable in the field and have a flair for teaching, then teaching online courses can be a good online business for you to start. In this digital age, you can teach anything from rocket science to even your native language (Yoruba/Ibo/Hausa). There are people mostly foreigners who are looking for people to teach them African languages.
This doesn’t just apply to languages, you can teach any topic including programming, accounting, Excel, Marketing, graphic design and any topic you can think of. To successfully start this online business in Nigeria, you’ll have to create online videos, divide them into modules and upload them on online learning platforms like Udemy, Skillshare, Masterclass and Teachable.
You’ll also have to set a price for your course. You can look at other similar courses to have an idea of market pricing. Make sure to create the best course available online. That’s how your online course can be successful. You can learn more about teaching an online course here.
9. Work remotely for companies abroad
Remote working is a situation in which an employee works mainly from home for corporate organizations and startups. More and more companies are embracing the remote work lifestyle by employing staff that are not required to resume in the office daily from 9 to 5.
Many remote work positions are IT and customer service related so they require specialized skill sets that may be rare to find. Example of popular remote jobs includes Data Analyst, Software Developer, UI/UX Designer, Customer Support and much more.
Working remotely is considered a lucrative online business idea because it affords you the time to do other things like taking care of the family (for Moms), hanging out with friends and family or going on holidays.
10. Get Paid Doing Affiliate Marketing
Affiliate marketing is an ideal way to make more money and start a home-based business, it doesn’t require much money to get started, and you don’t have to produce, stock, or ship product inventory or deliver a service. You’re essentially paid for referring new clients and customers to other businesses online.
I know it sounds so easy and less lucrative but let’s break it down. Let’s assume you recommend a product like a Laptop worth N100k. And your commission is 20% which is N20k. You share your links through your networks, and at the end of a month, 100 people purchase through your recommendation. That will be 100, 000 x 100 = N10 million. Your commission will be 20% of N10 million, which is N2 million! So in a month, you have made N2 million. That’s just from 100 people now. Imagine if it’s up to 200 or 1000.
The Affiliate marketing market is worth billions of dollars, but it is not well explored in Nigeria and Africa. To become a successful online affiliate marketer, you will need to target a particular product or industry. Then create a niche blog about that product or industry and recommend their products. You can also create niche social media pages and push your affiliate marketing there.
You can join and get products or services to promote many affiliate marketing networks online and get paid daily. Some of them are Amazon Affiliate, Jumia Affiliate, Konga Affiliate, Commission Junction, and more.
If you have any questions at all. Don’t hesitate to use the comment box. We’re happy to help.