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How to really make money online in Nigeria

Updated on June 18, 2013

Want to make money online in Nigeria? Well, cyberspace business is still on the rise and there are already success stories from Nigeria. Being a country with one of the highest populations in Africa, Nigeria also has one of the highest number of internet users both on the web and on mobile.

There are some people that may probably still be thinking that the entire hullabaloo about making money online in Nigeria is nothing but a scam or get rich quick propaganda all with the main purpose of selling something. Well you need to get away from that negative thinking and have an open mind.

If you are one of those who are looking for an alternative source of income, say from the web, tired of sitting everyday at the customer service desk, tired of saying "Yes Sir, Yes Sir" to your boss, the good news I have for you is that "it is possible"! You could bey our own boss!

You could make as much as you are currently making at your job from the internet working part time and if one can make that much, then it means that the true worth of your internet business is much better than your current job.

So "What do I do", you may ask.

Here is what I suggest, don't quit your job just yet, wait until you can see your earnings start growing and becomes consistent.

What making money online requires

So you want to make money from the web? Do you have what it takes?

Basic requirements

Making money online requires a couple of basic things which are:

  • Having something to offer (Product)
  • A platform to offer it (Website)
  • A means of getting rewarded (Payment)


Something to offer

Having something to offer in the first instance is one of the assets you need in order to attract people. You could either have a product or service that people would like to use or have. It should be something that adds value to the lives of your users. Products like clothing, food or mp3 files are kind of stuff people love to have and don’t mind paying for it. You can also offer services like community reviews, question and answers, car washing, computer repairs and so on. A website that has a lot of useful information is also a good asset since it helps people to stay informed about a subject or issue in their life.

An online platform

Apart from having something to offer to people on the internet, one also needs to have a platform on where to offer it. This platform would be a website and there are different types of websites. For offering household products and services, one needs a shopping website that is very secure. If it is an informational website, it can be a blog or review site. For ideas exchange and opinions or social interaction, it can be a user generated site like forum or other community website. Having a website which may be yours or rented is necessary for anyone who wants to make money online.

Assuming someone is running a news website where he publishes the latest news reports, he would need to do it on a website that allows publishing and allow people to access it easily.

A means of getting rewarded:

So, if you already have almost everything set up and getting public love, you also need to find a way to monetize your efforts if you don’t intend running a charity programme. How do you get financially rewarded for your investment in the online business?

One way you can make money from your venture is by simply putting a price tag on the service or product. Yes, you can simply sell it to people so that they pay for it before having access to it. That method is mostly good for sites that sell tangible or virtually downloadable stuff. Another way can monetize a web presence is by charging membership subscriptions and this is good for web portals that have the content on their site and then offer access to paying members only who subscribe periodically. You may also offer stuff for free but get paid by online advertisers for the public exposure you offer them. This final method is good for websites that have a lot of traffic and are able to connect potential with their online advertisers.


4 ways to make money online in Nigeria

There are several ways to make money online and at this point, I would like to point out some of the more effective and popular methods used by Nigerian internet entrepreneurs:

1. Selling online:

This by far is the more realistic and effective way to make money online as all you need to do is to sell something online. People visit the web daily seeking to satisfy their needs. If you can create a product or offer services online, have a means of getting paid, you are already in business.

Selling online requires that you have something to offer, make the offer and be able to get paid online. In countries like Nigeria, there are several online shops that are springing up that sell stuff online. Some sell their own stuff while others sell other people's stuff. You just need to know what people want, be able to offer them and then get paid for doing so.

Things people sell online include digital and tangible goods and services. One can sell physical or virtual books, mp3 songs and so on. An online seller can also sell hardware, clothes, cars and even homes on the internet.

2. Affiliate Marketing:

This simply involves a second kind of strategy that involves promoting the sales of other people's stuff for a pre-agreed commission. Affiliate marketers are people who have no product but offer the service of selling the products or services of other merchants for a fee. One of the most popular affiliate programs is the Amazon associate's program as it allows people who can capture web traffic to earn income by promoting sales for them. Affiliate marketers make use of several channels within their reach to promote affiliate sales which are normally based on a percentage of sales price for eg. 10%. Products and services one can promote as an affiliate marketer includes phones, laptops, web hosting, domain names, mp3 downloads and so on.

A lot of online sellers are now using the services of affiliate marketers by offering an affiliate program to them to help make more sales. So it's really all about sales and getting rewarded for promoting them.

3. Freelancing:

A freelancer is someone who offers a service online(mostly computer related) for a fee without having to be geographically close to the client. A freelancer is someone who operates what we may call a virtual office and he does this remotely from any part of the world where there is internet service and gets paid for it using online payment services.

There is a growing number of online services which freelancers offer and these includes typing, article writing, search engine optimization, web design, consulting, graphic design and so on. They do it for a pre-agreed fee and on a contract basis and they may or may not be a 3rd party involved in the contract award process.

A freelancer doesn't have to physically meet with his client to offer or deliver his services but he is able to do this easily using the internet. Freelancing services are mostly related to services that can be delivered online.

Most freelancers tend to have their own official websites through which they can offer such services and may also make use of freelancing communities where clients and service providers normally meet to compete for jobs.

4. Internet publishing:

This method has to do with pushing/putting content to the web for the purpose of capturing public interest which becomes a potential for making money.

An internet publisher is someone who makes content publicly available on the web via websites and this can be in the form of texts, pictures, videos and audio.

One main focus of a publisher it to get as much publicity as he can get for his content. He can then be able to monetize his web content in a variety of ways such as selling adverts, making referrals,

One of the most popular methods through which internet publishers make money online is by making use of Pay per click programs like Google adsense, Ad Dynamo, Chitika and so on. This allows them to earn money based on clicks made on such ads by web visitors and the more visitors a publisher's site has, the more money he is likely to make from pay per click ads.

More and more publishers are also switching to selling ad spaces directly for a flat fee based on a time period. Publishers can sell ads based on monthly or yearly basis.

Conclusion

So just thing up a business idea that you can start online, find a way to get paid for it and you are in business. You just basically need 3 things: A product/Service, A payment system and an online platform.

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