Best Options to Make Money Online in Nigeria as a Student 2024

15 Best ways to make money online in Nigeria

Technology and digitization have made some people billionaires within a short time in Nigeria. Such is the story of a young man who participated in the presidential election on 25th February 2023.

He became well-known on social media for the way he shouted the name of his preferred candidate during the voting process. Within 48 hours, he gained more Instagram followers and was already a potential top social media earner.

There are also success stories of individuals like Blessing Olarewaju, a student at the University of Nigeria Nsukka. Blessing is a creative writer and blogger who is earning comfortably online.

Information is power when you put them into practice upon hearing them. So you can start earning as a student online if you know how to make money online in Nigeria as a student.

Copy trading on RoboForex (CopyFX)

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Copy trading is a well-liked choice for students looking to discover how to make money online in Nigeria because it necessitates no effort. Among different copy trading brokers, RoboForex is a top copy trading platform for students in Nigeria with minimal trading experience. With RoboForex, you can start investing with just $10. Indexes, commodities, stocks, Forex, and cryptocurrencies are all available for investment.

When learning how to make money from Forex trading in Nigeria, students must understand that it is up to them to monitor traders before copying their trading strategies.

Copywriting

Copywriting is a top choice if you want to discover how to make money online in Nigeria as a student. Copywriting is a long-term career option a student can continue after schooling. And working as a freelance copywriter while still in college is a great idea if you have the necessary confidence and skills.

In three months or less, you can start making money using the copywriting skills you learn in an online course. You will support various brands in developing their authenticity and identity. You are responsible for writing written content that accurately represents a company's brand for online and offline resources.

In Nigeria, a freelance copywriter typically makes between $170 and $2.000 per month. Over time, as you gain experience and network with larger businesses, this may change.

Teaching English

If you are good at English, you can work and get paid online by teaching individuals who pay to learn the language. These individuals may be native English speakers from non-English-speaking nations or English language learners.

Online English tutoring is another fantastic way to put your technological know-how to use while expanding your network of contacts and making money. You can make money online by teaching English by signing up with an online ESL company and charging a public price for your services.

Online English tutoring sites like BookNook, Preply, Cambly, Italki, EF Education First, Outschool, and Teacheron are among the best.

Freelance translator

Writing translations is a fantastic way to monetize your language abilities and earn as a student in Nigeria. Your income will vary depending on the language you speak.

If you are fluent in two or more languages, you may be able to find work as a professional translator on various online freelance websites and platforms. You will translate spoken or recorded dialogue as a freelance translator for different clients, as well as written content.

Many different translation projects are given to freelancers who work for businesses. These could include translating instruction manuals, speeches, brochures, books, and information about consumer packaged goods.

Language translation is among the best options if you are learning how to make money as a student in Nigeria.

Forex trading

Forex trading, which involves currency exchange but carries some risk, is among the ways to make money online in Nigeria as a student. Therefore, take your time to learn and develop strategies to trade Forex before you start trading.

When trading currencies in pairs on the Forex market, a trader can forecast whether one currency's value will rise or fall.

A student can trade from the comfort of their home with brokers like RoboForex, IC Markets, Exness, etc. You will require a broker with reasonable commissions, a trading plan, and risk management insurance like RoboForex.

Funded trading accounts

Funded trading, which requires you to trade on behalf of a company, is another way that students can make a living. The firm offers you sufficient capital, purchasing power, and leverage with a funded trading account so that you can significantly profit from the financial market.

To get started, you will buy the evaluation or testing phase for a small amount, which is non-refundable depending on the company and the capital you want to trade. To be hired by the company, you must complete the testing phase, during which the company evaluates your aptitude for trading on the financial market. If you fail, you can purchase a new form and try again.

Additionally, depending on the financial instrument you work with, you need to have experience with funded trading accounts. For instance, trading in Forex, futures, cryptocurrencies, and stocks is possible with funded trading accounts like FTMO, MyForexFunds etc.

Financial affiliate program

You can make money off your technical knowledge if you have a solid background in technology and can build a blog using web-building frameworks.

With financial affiliate programs, you can make money by promoting other brands, and you can do this through blogging. You need a website to get started, but if you don't have the money to host one, you can start promoting your business's products on one of the free hosting services available on Google.

Affiliate marketing is a top choice for Nigerian college students who want to discover how to work from home. However, you might need to put in a lot of work to ensure that your blog gets a respectable amount of traffic.

You can earn between $1,000 and $3,000 monthly from affiliate marketing.

Writing white papers

If you are a student interested in reading and writing technical reports, you can earn money online in Nigeria. Writing white papers requires in-depth research on a particular subject that will address an industry challenge.

With the ever-increasing launch of applications like metaverse applications and blockchain games, there is a need for white papers on these technologies. White papers usually target readers outside the industry and walk them through in-depth analysis.

You can earn up to $1,000 a month, but it can be difficult to find work with these businesses if you don't have the time to do online research.

Dropshipping

Dropshipping is among the skills many financial platforms talk about when discussing how to make money online in Nigeria as a student. Dropshipping is a business model that allows eCommerce owners to sell goods without maintaining inventory. It enables you to market goods manufactured by another business under your brand.

Due to the low initial investment required and the absence of storage or shipping costs, it is ideal for students. Additionally, you can start without any initial investment; you only need a smart device with an internet connection.

The fact that they are not in charge of manufacturing or shipping makes dropshipping a lucrative business model for students in Nigeria. Students can earn $500 to $3,000 dropshipping in Nigeria.

Create and upload videos on YouTube

Nigeria is known to be among the best video content creators on YouTube, especially in skit-making. This option is available to talented students who possess the talent and creativity for comedy or the knowledge to instruct in particular subject areas.

You can make an average of $17 to $20 for every 1000 views on YouTube if you can produce entertaining and engaging virtual content.

You can start by using the cameras on your smartphone, even though this can be intimidating due to the competition. But if the quality of the content catches the viewers’ attention, you will be on your way to making money to purchase sophisticated tools.

Graphic design

Designing social media graphics, e-book covers, t-shirts, and other items can help college students make extra money. You only need design skills, passion, and a good understanding of color combinations. Gaining more knowledge of Photoshop, Figma, and other design tools is necessary to learn graphic design.

If you have a satisfactory smart device in place, you could launch your career in this area from the dorms at your school. And if you're successful in luring the right clients, you could earn $15 to $150 for each project. Notably, the amount you receive might depend on the complexity of the graphics.

Students with good graphic design skills can find different design jobs because many businesses are on the lookout for remote or freelance workers.

Becoming an Instagram financial influencer

Instagram is among the most popular social media platforms among students in Nigeria. And it is also a popular source of income for many of its users, who have over 10,000 followers.

You can position yourself as a financial influencer on Instagram and provide advice to your visitors and followers. As a student, this position will require consistency and hard work and will cost you nothing to start earning from Instagram as a financial influencer on the network.

Businesses work with Instagram influencers to market their products and brand names. You could make about $100 to $1000 monthly if you have between 1000 and 10,000 Instagram followers. The amount that Instagram influencers make can vary greatly depending on their niche, the size of their audience, and the kind of content they create.

Complete task on Amazon's Mechanical Turk

Companies frequently outsource certain tasks to random individuals who show readiness to complete these tasks on the agreed date and time. The tasks given to employees, such as classifying photographs and transcribing movies, can take a lot of time.

After the business examines and accepts the work, you will be paid and given a new assignment. You can earn between $10 and $500 per month, and the approval occurs up to one month before payment.

Sell eBooks online

If you're a student in Nigeria, you can write and sell ebooks online as a freelance content writer. Among other options when learning how to make money online in Nigeria as a student, selling ebooks is among the best. If you can create ebooks that interest reputable educational services and bookstores, clients will seek to hire you.

Your best option for selling these books online and earning money as a student in Nigeria should be the Amazon Kindle Store. You can make between $300 and $1500 a month selling books on Kindle if you choose the right market, write a good book, and manage your book launch well.

Additionally, you can open accounts on Gumroad to find potential customers for your book sales.

Social media and Influencer marketing

With billions of social media users and different social media marketing apps, you can earn enough money to cater to your needs while in school. Writing content for brands on social media is a lucrative endeavor if you have a knack for language and are analytical.

Digital marketing relies heavily on social media platforms like Facebook, Twitter, and Instagram. Thus, there is a rising need for creative, forward-thinking, and analytical professionals to carry it out.

You can also use the type of content you post on your social media account to attract users' attention and establish yourself as a social media influencer.

Influencers on social media can make money by working with brands, collaborating, and starting their own businesses.

How to make money as a student - Top 5 tips for Nigerians

You must be prepared to accept any freelancing employment opportunities if you are a student who wants to be independent while in school. Here are factors you must consider when learning how to make money as a student in Nigeria.

How much can I make as a student in Nigeria?

If you learn how to make money online in Nigeria as a student through a reliable source, you can make up to 50 to 200 dollars monthly. However, your ability to earn more or less will depend on the online work.

What is the easiest way to make money in Nigeria?

For students looking to know how to make money online in Nigeria as students, copy trading is the easiest way. Making money online with copy trading will take less of your time and effort because there will be less work for you to do. Your responsibility is to select the best manager and monitor the results. To get started, you need between $10 to $100, which is the minimum investment.

Is making money online risky?

While you strive to know how to make money as a student in Nigeria, you must note the risks involved.

Yes, making money online can be risky, but it is going to depend on the type of business you do. While copywriting can be considered a secure source of income, investing or trading has higher financial risk and potential rewards.

Best Forex brokers in Nigeria

RoboForex

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RoboForex is a top Forex and CFD broker offering a wide choice of earning opportunities. Novice traders can copy the signals of professionals automatically. For professional traders, the broker offers a Forex bot constructor and individual trading in the Forex, stock and cryptocurrency markets.

IC Markets

IC Markets Review

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IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.

PocketOption

Pocket Option Review

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Pocketoption was launched in 2017. The company has a team of professional traders, as well as IT and FinTech experts. The broker gives its clients access to trade currency pairs, commodities, stocks, cryptocurrencies, and indices. Pocket Option provides its clients with access to more than 100 global trading assets. To operate in the financial markets, the company has developed its own unique trading platform. In addition, Pocket Option clients can trade in MT5. The broker’s service is available in more than 95 countries and regions globally.

PocketOptions top priority is the high quality of customer service, constant improvement of trading technologies, and financial innovations. The broker also offers profitable bonus programs.