Online Business in Nigeria: Some Hot Ideas for You

Since I started this blog, I’ve received countless messages through Whatsapp, Facebook, and my blog — from people who want to learn how to make money online in Nigeria, but have no idea which options they have. 

 Some want to start blogging, but they don’t know what niche or topic to choose. Some favor information marketing, affiliate marketing, or freelancing, but are lost as to where to get started. Each time I receive such messages, I try to reply as soon as possible because I don’t want to turn people back into the waiting hands of the desperate snake oil marketers out there who have nothing offer, but are experts at milking unsuspecting newbies of their hard-earned cash. 

 Recently, I came upon the idea of publishing this mega post, which reveals some  proven lucrative online business ideas that Nigerians can explore. My aim is to make this the go-to guide for any Nigerian looking to make the right choice as to which online business opportunity to tap into. 

 So, if your goal is to kick-start a profitable online business, this mega post will open your eyes to so many opportunities you never knew are existing. 

 Even if you’re already chasing shadows and wasting your precious time on entertainment/celebrity gist blogging and other online time-wasters, it’s never too late to retrace your steps. But before I unleash these opportunities, I want to prepare your mind for online business. 

So, I’d recommend you first read the following posts, so they’ll give you a clear picture of what online business entails, and what you should expect.

 Idea #1: Small business blog 

With the worsening state of Nigeria’s economy comes saddening developments such as mass retrenchment of workers, dearth of jobs in the labor market, and lack of job security. 

This explains why millions of Nigerians are on the lookout for lucrative small business opportunities to explore — in a bid to achieve financial independence. However, most people who want to start a business have one problem: they are confused as to which business to start. And this is because they have little or no knowledge of the various small business opportunities available in the country. 

 If you have a knack for research, you can quickly gather a loyal Nigerian audience by starting a small business blog that features quality and valuable information about each of the various small business ideas and opportunities available in Nigeria. 

Be Careful: Don't Go Near This 7 “Online Businesses”!

 I’ve come across many people who think online business is a hoax — all because they’ve tried out one or more online money-making ventures, but didn’t make any money. 

But on probing further into their experiences, I discovered that they didn’t venture into online business in the first place. Most decriers of online business don’t understand what an online business really means. 

They think everything that fetches money over the Internet passes for a real online business. So, they plunge into any online activity that promise to fetch them money. But in the end, they failed because they missed it right from the start. Get this clearly: 

A real online business is one that you have absolute control over, and that has the potential to fetch you a full-time income for as long as you wish. Blogging, affiliate marketing, information marketing, and freelancing are all in line with this definition. 

 But then, there are some other online activities that fetch people money, but are usually timewasters and risky ventures. And you must avoid them at all cost because, in reality, they are not businesses — in that you have little or control over them and income they bring, if any. Here are seven such businesses: 

1. Forex trading This was seen as the hottest business opportunity in Nigeria a couple of years back. Many people, including myself, quickly jumped on the bandwagon of Forex trading with the aim of making quick bucks from the foreign exchange market. But we soon got burnt due to the high-risk nature of forex trading. 

 While I admit that some people are making good money from forex trading, I still cannot stomach the fact that losing money as a forex trader is inevitable, no matter how experienced you are. That, to me, makes it more of a gamble thing. In addition, most forex trading experts will tell you to separate emotion from your buying and selling decisions. But that’s almost impossible. We’re humans, and we can’t totally suppress our emotions. 

So, I think forex trading is only requesting the impossible. Although forex trading is done over the Internet, and it involves investing and fetching profits, just as with any other business, it still doesn’t pass for a real business. And I’d advise you to stay clear of it because you’ll lose nit just your money, but also lose your sanity. Imagine losing a whopping $500 within 10 minutes due to a miscalculated buying or selling decision. Some people won’t survive it, you know? 

2. Online surveys Online survey websites offer to reward you in cash or coupons for completing surveys online. While most of these websites are legitimate, they usually aren’t targeted at Nigerians, since most of the companies sponsoring the surveys aren’t serving a Nigerian audience. So you won’t find enough surveys to complete because Nigerians aren’t eligible for most surveys.