How Many Young People Are Making Money Online

As the economic realities in Nigeria continue to bite harder, the youths keep evolving day by day by finding new ways of making headways. Many of them no longer stress themselves looking for white collar jobs in the already oversaturated employment market. They have now resulted in adopting the money-making opportunities the new media or internet has created. These youths work at their convenience as they don’t need to leave the comfort zone to earn big and attend to their basic needs of life. Below are some of the things young people do online that fetch them cool money:

CRYPTO TRADING

Nigeria ranks as the top African country in crypto trading, as more Nigerian youths looking to earn money have taken to crypto trading. With as little as N500, they buy crypto and start trading in crypto. Crypto trading is not limited to youths, single parents, and senior citizens have also begun to make money online with crypto. They make money from crypto by buying from an exchange that sells at a lower price and then trading them in an exchange that accepts cryptocurrencies at a higher price. Currently gaining ground among the youths is Web3 crypto coins and tokens used to incentivize a decentralized range of services previously provided by centralized tech companies. These critical services Web3 help to achieve include data storage (e.g. Filecoin and Arweave), network infrastructure (Helium for example), bandwidth and processing power sharing (e.g. Theta and Render), data indexing (see The Graph) identification, web hosting, social media and many others. The five most popular Web3 cryptos by market cap are Polkadot, Chainlink, Filecoin, Internet Computer and Theta Network. They are well-established and have been around for more than a few years.

VIRTUAL ASSISTANT JOBS

Virtual assistant jobs are what young people seek to make money online in Nigeria. As virtual assistants, they enjoy the luxury of working from home while helping their clients with their day-to-day tasks, such as email management, basic administrative work, or social media management. Virtual assistant jobs are in high demand and a great way to earn money online in Nigeria while working with clients from all over the world. Many young people realise this and are seriously cashing in from it.

FREELANCING

Freelancing is one of the ways young people make money online. It involves offering what you know to people and then getting paid for it. Those who know how to write offer their service to some of the freelance sites like Upwork and Fiverr and they get paid based on the job done online. The same applies to those who know multiple languages; they earn a lot of money writing translations for documents. Young people also make money in Nigeria by freelancing their graphic designing, video editing and other skills.

AFFILIATE MARKETING

Aside from crypto trading, affiliate marketing is another income stream for many youths and adults in Nigeria. As an affiliate marketer in Nigeria, you don’t need to have your product or services to make money. Instead, you only need to look for products in other people’s businesses, companies, and services to sell and earn commissions. Affiliate marketing is probably another easy way for those looking to make money online in Nigeria. You only need an internet connection and a product to promote. You can earn as a brand ambassador for reputable companies and earn passive monthly income. These companies pay a commission on each person you refer, and you make 20% of the trading fees on every trade they complete.

INFLUENCER MARKETING

Influencer marketing is a dynamic field where young people are now venturing into to make money online. They don’t necessarily need a huge follower to secure lucrative brand deals. From an earning perspective, being a successful influencer is all about knowing how to engage with a valuable group of potential customers and by doing so they get paid. They maintain and grow an engaged audience by continuously creating content and exploring new channels.

E-COMMERCE

E-commerce is one of the most popular things young people do to make money online in Nigeria. With E-commerce, they simply find products to buy and sell online. With the increased online purchases today, e-commerce has become a lucrative way to earn money online in Nigeria. Young ones make money leveraging e-commerce platforms such as Jumia, Konga by creating a free online store and marketing your products online to attract customers.

SOCIAL MEDIA MANAGEMENT

Social media has become a big trend in Nigeria and has become a money-maker for celebrities and influencers today. From Tiktok, Youtube, Facebook, Instagram, and Twitter, all of the channels have a lot of attention, making it a lucrative enterprise for young people in the country. Several companies now engage the youths to assist them in managing their digital presence and attracting customers. The key social media manager role includes creating simple content and engaging with your audience. Some of the youth who have become influencers work with brands and businesses to promote their products or services on your platform while you earn a commission or from brand awareness.

BLOGGING

Another thing young people do to make money online these days is Blogging. As one of the longest-lasting online businesses in Nigeria, blogging involves choosing a niche, producing high-quality content, developing an audience, and monetising the blog with Google AdSense or other direct advertising deals. Young people also make cool money by ensuring increased traffic to their site, recommending other people’s products and getting paid commissions on sales or taking sponsored posts to their audience.

ONLINE COURSES AND TUTORING

Young people make money in Nigeria easily by just teaching what they already know using a course outline and your mobile phone as a camera. It can be teaching a subject, a skill like video editing, baking, how to prepare a certain delicacy and more. They focus on creating simple courses on everyday problems and upload their contents on popular sites like Udemy, and Coursera and earn money. By doing this, they create an online presence which can be used to advertise other products and get paid.

WRITE AND SELL BOOKS OR EBOOKS

In the same way young people monetize their expertise with an online course or your influence as a YouTuber, they also earn cash by selling books or ebooks online. This approach suits a variety of formats and genres, from fiction and memoirs to self-help and instructional guides.

CONTENT CREATION

Creating content has become the first choice for most young people in Nigeria today as a way to make money online. From dance, music, comedy skits and more, content creation is rapidly increasing and a popular means of making money online in Nigeria. There are a lot of creative minds who are making serious money from their contents and sponsored posts on their platform. They use channels like Tiktok, Youtube and Instagram where they have built a loyal fanbase. With the quality of content we see today and the lifestyle of most content creators in Nigeria, it is glaring that young people are relying on cashing out by creating lovely content.

PODCASTING

By the end of 2024, the number of podcast listeners worldwide is predicted to grow to more than 500 million. Podcasts, a popular audio format for consuming stories, comedy, news, and opinions, continue to grow. Young people that have a great voice, love to talk, and have a particular interest or talent to share are seriously making lots of money from podcasts. They run their podcast sessions by telling a story, provoking discussion, or getting a scoop from an interview participant. It requires regular episodes to keep the audience engaged. Young people make money by monetizing their podcasts through sponsorship deals and in-podcast ads.

ONLINE TUTOR

Young educators and experts in specific subject areas who enjoy teaching now use their knowledge to earn online income. With sites like TutorMe and Fiverr, they easily make money online by finding students who need your help. Or set up a simple website and use social media and peer recommendations to drive traffic and sign-ups.

ONLINE TRANSCRIPTION

Transcription is one thing young people do to earn money online in Nigeria. Online transcription is fast becoming popular; it requires a mobile device to start making money. Transcribers convert live or recorded speech into a written document. Transcription services are in high demand among professionals like journalists, doctors, and lawyers who need accurate records of their audio communications. There are thousands of companies, and content creators constantly outsourcing transcription to make their productions more accessible. Some students do this as a side hustle to augment whatever their parents give them as allowance while studying.

Narrate Audiobooks.

Young people that love reading and have a great speaking voice make money online putting their talents and interests to use by becoming an audiobook narrator. They do this by finding narration work through audiobook marketplaces like ACX, Bunny Studio, or Voices and get well paid for doing the job of recording, and editing high-quality audio content.

Jamiu Abubakar (08085185886)

with additional Information online