The easiest way to make money in Nigeria is to make money doing easy things. Don’t worry, I will explain more for your understanding in this article.
Nigeria is a tough place as seen by many individuals. But I’ll tell you that Nigeria is one of the easiest placed in the world to make make fast.
The reason is obvious: in Nigeria, almost everything including businesses are still in a virgin stage with no much competitions as compared to countries like UK or US. Also, the Nigerian population (about 180 million and growing) is a plus to business minded individuals. Lagos alone boast of about 5million+. So, you could just make 1 million Naira every month if you sell a one Naira worth products to about 1/5 of Lagos’s population.
You might think that there’s no opportunities like government jobs. But if you open your second eye, you might see even more excited opportunities that could even make you to reject the so-called government jobs.
Currently, I have been making nothing less than a million Naira every month by simply doing simple things. Believe me, I have friends who are making even x10 of that by just doing what they know and love to do.
Does it sound like a joke?
No it’s not, consider this…
If I make $2000+ from Google AdSense, $1,000+ from affiliate marketing, $500+ products sales, $1,000 from rendering services, how much is that in Naira? Answer me.
Do you think I work for 40 hours a day to make this amount? No. All these jobs are easy. I only share valuable information online like this article you are reading. That’s all.
Let me tell you, I sold post utme past question on one of my site Mypastquestion.com for N6,000,000 for three years before the exam was scraped by the federal government. For that three years, that could summed up to about N18Million or more. Now, I still make some money ? from sales of job interview past question, scholarship past questions, jamb past questions and more.
This is not for a brag… rather to let you know that you too can make money easily here in Nigeria without carrying a gun or visiting babalowo.
Top 6 Untapped Business Ideas in Nigeria
1. Start Production Now
I recently found out this idea… Do you know that is not that difficult to produce cement? I used to wonder what Nigerian graduates who studied chemistry learnt in school. Currently, there only about 4 working cement industries in Nigeria but the demand for cement is still skyrocketing. OK, If you can’t preduce it, why not join the distribution and make money from it? This is just one example.
2. Poultry
Let’s talk poultry – are you not aware that there is a very serious demand for chicken and eggs? Currently, the supply for poultry products can not meet up the demand. Thus, Nigerian now resort to importation of poultry products. What a shame!
3. Food Processing
Another one is food processing. Apart from making Garry and fufu, we hardly know other food processing ideas. A good knowledge in food processing can help you to make easy money in Nigeria. With this knowledge, you will not only help yourself by make more money from finished products but you’ll also help farmers by preventing food waste.
4. Bread Making
I have a friend who is currently making over N200,000 profit everyday from mini bread production factory he she setup with N300,000 loan. When I interviewed her, I said wow.
5. eCommerce
What about e-commerce? I mean selling products online. Currently, only few Nigerians embrace this business idea ? . Others are spectators sitting down and watching foreign companies enjoy our market. E-commerce business is one of the easiest ways to make money in Nigeria. If you think I’m lying, go and ask Konga or Jumia.
6. Telecom
I’m not even talking about telecommunications and media. Do you know that naij.com is not owned by a Nigerian? I’m not envious of them, but there are too many of such business in this country. They stay in the moon and rip from Nigeria audiences while we the citizens sleep as if all is well.
Enough of the ranting. What I am trying to portray is that there are countless opportunities to make money in Nigeria because of our population strength. In Nigeria you only need to sell to only few people and you are rich. No wonder why foreign companies are rushing down to enjoy the market.
So what are the easiest way to make money in Nigeria?
These tips could be of help…
1. Find out what your community needs most: Simply look around you and find out what people need. These could be food, medicine, knowledge, ideas, wears, automobiles, etc. The list are endless.
2. Do business feasibility study: find out the capital needed, local regulations and requirements to start such business (if any).
3. Just start No matter how small: beat that enemy called procrastination by hitting the road with that idea. Get the stuff done by doing it. Sure, be ready to tell the stories later.
If you don’t have big money to start big business, start small. There are many business ideas that you can start with very little or low capital. Do you know that Linda Ikeji is making over 3milliom naira every day from her blog that she started for free? This just an example of what I mean by starting small.
Just like this blog you are reading, I bought the domain from Whogohost for only N1500 and bought Godaddy hosting for only $12/year. Now I have developed to a multi million site. In your case, it will all depend on how you see it. See it as a big business but start with what you have.
4. Be patient and sound minded: Do this business with a business mindset without too much immediate expectations. Grow your business to that level it can make money for you. Sure there’s harvest in every farming adventure.
5. Use the profit to make more money: There was a certain NTA interview I listened to. The business analyst said that one of the problem in Nigeria business is lack of reinvestment. This is really true.
Many of us will take the first tier profit from our businiess to go and buy a luxury car thinking we have arrived. No bro/sis, it’s not so. Instead, reinvest the greater aspect of your gross income to grow the business. With this, you will be able to use money to make more money.
You can imagine the exponential growth your business will experience after some years of reinvestment. About 60% of my monthly earnings are reinvested into real estate and 20% into development of InfoGuideNigeria.com . I think I am making smart moves.
6. Keep track of everything: how will you know if you have made progress in your business? The best way to achieve this is through proper record keeping. You’ll be able to re-strategise your business only when you know the progress of the business.
Read: How to Start a Blog and Grow it to $2,000 Per Month in 18 Months
So, all of these ideas will be easy to execute of you love them. Like this article you are reading, I used my marathon M5 Android phone to write it while sitting out with friends. It was so easy for me even though I make money from it.