Daniel Ibrahim

Ten Ways Nigerians Will Make Money Online In 2020

We have entered the last year of the second decade of the 21st century, the year 2020. As with all new years, there is a lot of hope and expectation by many Nigerians about changing their economic fortunes. To change their economic fortunes, many Nigerians are turning to the internet to make money. The internet for many years now has been providing many Nigerians with a steady income. As the rate of unemployment increases nationwide and the cost of living rises, more and more Nigerians will surely join the teeming armies of those who seek new economic fortunes or their daily bread online. These are the opportunities Nigerians will be exploring either to make ends meet or to become richer in 2020.

Blogging

Since blogging started about 25 years ago, it has become a phenomenal way to make money online. In Nigeria we already have people like Jide Ogunsanya and Bamidele Onibalusi making good money from their blogging efforts. These bloggers create niche blogs or blogs that are focused on a specific set of topics and themes. This helps many people to get specific information about things and it also helps these bloggers to channel their best efforts more productively in a narrow but more focused and profitable direction. For instance, as to the two bloggers mentioned above, Jide Ogunsanya blogs about blogging and how to make money from blogging, while Bamidele Onibalusi blogs about freelance writing and making money from freelance writing. In the year2020, we expect to see more Nigerian bloggers emerge in blogosphere just like Jide Ogunsanya and Bamidele Onibalusi did many years ago, using platforms like Blogger, Square Space, Live Journal and the very popular WordPress platform to blog and make money.

Freelancing

A lot of people all over the world are outsourcing work to others over the internet in what we now call the Gig economy . It is not a strange thing these days to see people on online platforms like Guru, Toptal, Design Crowd, Upwork and Freelancer giving other people tasks to do for them. These tasks include writing, coding, graphic designing, SEO consulting etc. Nigerians are some of the most popular freelancers in the world because they can be engaged at affordable rates and they possess good skills to go with those rates . This year we expect to see Nigerians do more gigs for cash on the older and emerging freelance platforms on the internet.

Affiliate Marketing

Affiliate marketing is simply helping other people to sell their own products or services. This sort of marketing is very popular online. The most successful affiliate marketers use blogs, YouTube videos and other methods such as posting in forums to make sales and earn a commission. Some of the popular affiliate marketing programs Nigerians are already familiar with include Peerfly, Amazon Associates, EBay, Commission Junction and Share A Sale among others. This year with more awareness and information about affiliate marketing by Nigerians, we expect this to be a major source of income for many Nigerians. Home grown digital marketing is also emerging on the Nigerian digital scene and we expect to see a lot of home-based affiliate marketing in 2020, driving in more sales for our emerging digital market.

YouTube

The second most visited platform on internet after the Google search engine is the YouTube video platform. The reason for the surge in global visits to the YouTube platform is due to two key reasons. Firstly , the platform has been acquired by the global search giant Google and Google is directing massive traffic to YouTube by embedding videos in global searches. Secondly, the whole world is warming up to a significant shift from predominantly text based content to audiovisual content. Many Nigerians are already making money on YouTube through display advertising on their YouTube channels. We expect the current numbers of Nigerian money making YouTubers to go up higher this year.

Forex Trading

Forex trading is simply buying and selling fiat currencies through a digital platform online. Forex traders exploit the changing variations in currency prices, which is technically known as price volatility to make a profit. Experienced and skilled forex traders usually buy low and sell high depending on the current mood and dynamics of the market. This line of business does not require the training of an astronaut or rocket scientist, even though you need a good deal of mathematics at a practical or intuitive level to succeed with forex trading. You also need a psychological balance of rigorous discipline and good judgment to make money in forex trading. Nigerians are among some of the best forex traders in the world. We expect to see more proficient forex trading this year from more Nigerians. As well as more forex training products such as seminars, webinars and bots that are developed to help Nigerians trade forex more successfully.

MMO Solutions

MMO stands for Make Money Online. Sites like JVZoo and Warrior Plus are very popular MMO sites on the internet because they are helping many people to make money online, especially in the niche of internet marketing. Nigerians are getting more involved with these two platforms just as they are also getting involved with funnel making and hosting sites like Instapages and Russell Brunson’s Clickfunnels. These sites are helping Nigerians and people from other countries like India, Sri Lanka, Bangladesh, USA and others to make money selling digital products and services on sites like Click Bank, Peerfly or Commission Junction. These sites are also helping them to make money on their own by helping them to create a system for innovation, testing and marketing that can scale in the internet economy and rake in thousands if not hundreds of thousands of dollars. This year more Nigerian digital products and services are expected to hit digital stores online from MMO hubs.

Cryptocurrency Trading And Investment

Since the Bitcoin rave in 2009 hit like a bug it has been enthusiastically adopted by a growing army of speculators, especially the elite group of speculators called Whales and the HODLers (Coin hoarders) who dominate and control the crypto market to their own advantage. Nigerians are also in the ranks of these Whales and HODLers who spike or slow the momentum of the crypto markets and a lot of them are making a fortune from market -controlled or direct-risk crypto trading. You just have to pay a visit to a site like Local Bitcoin. Org to see for yourself just how involved Nigerians have been with crypto trading and speculation these days . As we enter 2020 with talk of Bitcoin’s price hitting above 100,000 dollars anytime in the future , more Nigerians will surely want a slice of the crypto pie and they will be willing to invest time and money to make that happen.

Micro Tasking

Sites like Fiverr, Gigwalk, Mturk and Figure 8 Tasks offer micro tasks for cash. These sites are helping businesses from big corporations to smaller sized firms to gain steady access to a crowdsourced workforce that is scalable and on demand. By breaking down larger tasks into smaller, sizable and quickly solvable chunks, a crowd of workers can combine their energies, time and skills on a particular set of tasks and complete it in a shorter period of time. This mode of work has been found to be very profitable to many Nigerians who are now seriously engaged on international and local micro task sites like Alance , Asuqu, Just From 5k etc. As the world embraces the gig economy in full swing, Nigerians will also be able to enjoy the flexibility it provides in an era that is rapidly shifting from traditional to futuristic modes of work.

Photography

A picture is worth a thousand words some say but it could also be worth a hundred dollars or more on the internet .The new internet economy that has emerged has ample opportunities for people with the skills and flair for photography to make a little or a great fortune. A professional or amateur photographer can take photos and place them on sites like Adobe Stock, Shutter Stock, Etsy, Dreamstime, Crestock, 500 px etc. On Shutter Stock alone photographers have made over 500 million dollars from the sale of photos. You can also sell your photos on your own site using widgets from Fotomoto and Etsy. These days Nigerians have more cheaper and reliable tools to make good photographs. Once they take pictures of people at work and other places or they take pictures of nature from any of our many scenic and idyllic landscapes, they can put them up for sale online. Sites that sell photos have an arrangement for stocking your photos which will enable you to earn royalties from people who buy them to use these photos for many commercial purposes such as placing them in articles or blog posts or using them as a background for the templates of their blogs and websites. 2020 will surely see more Nigerians earning from stock photo royalties.

Mini-Exportation

There are a lot of opportunities for Nigerians to export in a box. That is they can put things into cartons and paper packs and send them overseas and get paid for sending these things there. Since 2009 many Nigerians have been using Alibaba to send a lot of useful stuff like cassava chips, sesame seeds and cashew nuts to China and other parts of Asia. Nigerians are also selling stuff like Gari, pepper, tomatoes, ginger, moringa, jatropha etc. to many countries. Besides using the Alibaba platform you can simply head over to the Nigerian Export Promotion Council website, www.nepc.gov.ng. On this site you will get a comprehensive list of the items you can export out of the country. You will also get all the procedures for export and all the information about the support that government is providing to exporters. This will help you to know what kind of things you can source locally for export and the processes for taking them successfully into other countries. Armed with information from these online sources, Alibaba and the NEPC, we expect to see more Nigerians exporting more stuff for cash in 2020.