Living in Nigeria with only source of income without diversification has proven to be a dangerous adventure in as a result of the rising cost of living . From working professionals, students, civil servants, everyone is looking for extra ways to make money amidst the harsh economic situations in Nigeria.
However, the good news is that you don’t always need huge startup capital to commence. With creativity, skills, and consistency, you can start a side hustle that puts extra bucks in your pocket to withstand the current realities.
In this article, we’ll explore 7 profitable side hustles you can start in Nigeria with little or no capital.
1. Freelancing (Writing, Graphics design , Web Development, Virtual Assistance)
What is freelancing : it’s is a form of self-employment where individuals offer their specialized skills to different clients on a project-by-project basis, rather than being a full-time employee of a single company.
Freelancing is one of the most flexible ways to earn money in the current Nigeria of today. If you have digital skills and can prove that you know the skills very well, you can work remotely with clients worldwide while living in Nigeria.
There are places where you can find such jobs. Such places are : Fiverr, Upwork, Freelancer, LinkedIn etc…
Meanwhile, there are Skills in demand such as : Writing, graphic design, social media management, video editing, ads management, website design/development, virtual assistance etc.
All you may need to start up this job is simply a laptop, good Phone + stable internet connection.
It may interest you to know that many Nigerian freelancers earn in dollars, which pays more than naira. This is what you should definitely give a trial.
2. Social Media Management (SMM)
Majority of most businesses, both small and big business in Nigeria is now online, but unfortunately, not every business owner knows how to manage social media pages.
As a social media manager, your job description requires content creation, posting, and responding to customers.
The good news is, you don’t need much resources to start this business in Nigeria. All you need is just a smartphone or laptop, good internet, and creative mindset.
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Somd business owners are willing to pay monthly retainers (₦30,000 – ₦100,000+) for someone to manage their online presence.
3. Mini Importation & Dropshipping
What is Mini importation and dropshipping : They’re both e-commerce models that reduce upfront costs by allowing you to sell products without holding large amounts of inventory.
Considering the online shopping booming in Nigeria, mini importation and dropshipping are profitable venture one may engage in.
In Mini Importation, there are some reputable sites one may buy small items from sites like 1688.com, Alibaba, or Aliexpress, import and then resell at a profit in Nigeria.
Meanwhile in Dropshipping: One Sells items without keeping stock. When someone orders, you place the order directly with the supplier which is the major distinction with mini importation.
With as little as ₦50,000–₦100,000, you may start mini importation while Dropshipping can even be done with almost zero capital.
Popular items one may venture into are : fashion accessories, gadgets, beauty products etc.
4. Affiliate Marketing
Affiliate marketing is the type of business model that allows you to earn commission by promoting other people’s products or services.
In such business, you don’t need to own any business, product or services before starting it up. All you need are getting links to other people’s business and engage in helping to market their products or services for commissions.
Popular affiliate platforms in Nigeria are : Jumia KOL Program, Konga Affiliate, Expertnaire, Amazon Associates etc..
Normally, an affiliate links to the products are usually generated which would shared on platforms such as WhatsApp, Instagram, TikTok, or a blog.
When someone eventually buys through your link, you earn a commission.
It’s may interest you to know that many Nigerians earn passive income through affiliate marketing without owning physical products.
5. Blogging & Vlogging
This is basically for people that enjoy writing or creating videos which can eventually be turned into income generation venture.
Blogging: This has to do with extensive writing on topics of interest. One may Start a website, blog, and monetize it with Google AdSense, affiliate marketing, or sponsored posts.
Vlogging (YouTube): In this case, one creates videos on lifestyle, tech, tutorials, or entertainment and publish it on personal YouTube channels. This would eventually be Monetized. When you meet YouTube requirements (1,000 subscribers, 4,000 watch hours), ads would start popping up within eventually turn into money.
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6. Tutoring & Online Coaching/mentoring
Most people silently or publicly seek for the knowledge of what they desire broader knowledge on. Daily, many people search online for a particular skill to harp on. Quality education is always in demand as people continue seeking for more. If you’re good at a subject or skill, you can earn from teaching others.
You can start by teaching WAEC/NECO/JAMB subjects, or even digital skills like coding, graphics, or public speaking.
Going ahead to offer physical classes, or tutor online via Zoom/Google Meet could be the game changer.
Parents in Nigeria are willing to pay well for private tutors for their children.
With the growing interest of youths trying to learn tech skills, find a pool of people of likeminds and start up an online coaching class immediately.
7. POS Business (Agent Banking)
POS (Point of Sale) business in Nigeria typically refers to a retail or merchant business that accepts card payments, often using a Point of Sale terminal or system. However, in Nigeria, “POS business” often specifically refers to agents or merchants who provide financial services, acting as intermediaries between banks or mobile money operators and customers.
In this business, You don’t need to become a bank owner, all you just need is just a POS machine and small capital (₦100,000 – ₦300,000) to start.
People who engage in such businesses earn by charging fees for withdrawals, deposits, and transfers.
It’s one of the most widely practiced business in Nigeria as people prefer POS agents for convenience as opposed to queueing up in a banking hall or ATM machine stands.
With the right location, you can make daily profits.
Viable Tips for Success in Any Side Hustle of choice.
- Start small, and target on growing gradually. You actually don’t need to wait for millions before starting.
- Ensure to be very consistent as it takes time to build trust and retain customers.
- Marketing yourself effectively vai the use of social media could aid in promoting your services.
- Deliver value to your Customers and they will return and even refer you to other potential clients.
The truth is, you don’t need huge capital to start earning extra passive income in Nigeria. It could be from freelancing to affiliate marketing, social media management, and tutoring.
Having the aforementioned, the key is to start with what you have at hand, stay consistent, and keep learning and improving . Over time, your side hustle could even grow into a full-time business.
Which of these side hustles listed above do you want to start this year? We would appreciate if you Share your choice in the comments!
