How To Make Money In Nigeria - Simple, Effective, And Practical Strategies To Make Money In Nigeria

how to make money in nigeria

How to make money in Nigeria - This article discusses simple and effective strategies to make money in Lagos Nigeria or anywhere else in Nigeria.

Guess what.

One of the commonest issues people want to discuss with me is how to make money in Nigeria. And the reason is not far-fetched.

Money is what makes things happen. When you have money . . .

  • You will eat the kind of food you love to eat
  • You will wear the kind of clothes you love to wear
  • You will live in the kind of apartment you fancy
  • You will have the boldness to approach any girl you fancy
  • You will have the boldness to call the bluff of anyone who challenge you

    . . . and more!

    No wonder how to make money in Nigeria is the biggest subject on the lips of people!

    Since making money is such a hot subject, I will spend the next couple of minutes to drill it down and therefore empower you to understand how to make money in Nigeria so that you can achieve financial freedom.

    Ways To Make money In Nigeria

    There are several ways to make money in Nigeria. See the list below:

    1. Get A Job

    2. Steal from others e.g. 419

    3. Learn a vocation e.g. carpentry, sewing, weaving, how to design web sites etc

    4. Learn the art of trading and start yours

    5. Learn the science of production and start your own small scale factory

    6. Start an internet business

    This list is certainly not exhaustive but it captures the core areas you can invest your time in and make money right here in Nigeria.

    Let me give you a brief overview of each of the options above that addresses the issue of how to make money in Nigeria.

    1. Get A Job

    The commonest way to make money in Nigeria is to get a job.

    how to make money in nigeria get a job

    In this case, you search your neighbourhoods and news magazines for job ads. When you find something that matches your qualification and experience, you send in your application.

    This option is by far the easiest option because all you have to do is apply. And when you are employed, simply do your job as per the company's requirements and your job description.

    The tough part about this option is this: When there is a recession, economic meltdown, or economic strangulation, jobs become fewer. And even those who already have jobs may lose their jobs in the name of re-structuring or right-sizing by organizations.

    The result?

    Those whose only option is getting a job and earning a salary, find themselves in an awkward position. They become hungry and angry at the system.

    2. Steal From Others - The 419 Fraud Option

    You would have noticed that even in the face of the worst economic meltdown, the rich tend to be getting richer. Yes, even while millions are in stark poverty and don't know where to get the next meal, the few people who make up the upper class of society are still amassing even more wealth for themselves.

    This often get the poor and hungry really mad and some opt to steal from the rich in the spirit of Robin Hood or the opposite.

    But is this the way to go?

    The answer is a big 'NO'.

    While you may prosper for awhile from stealing people's credit card or perpetrating advance fee fraud, sooner or later you will be caught and all your illegally amassed wealth will be taken away. Worse still, you could go to jail and rub your family's name in the mud.

    My advice?

    Do honest work and prosper. Enjoy the fruit of your labour and be happy.

    Concerned about how to make money in Nigeria?

    Good. But don't adopt the 419 fraud option. It's the path to failure and disgrace.

    3. Learn A Vocation

    When you learn a vocation, you position yourself to become an employer of labour and the Boss.

    So, instead of writing application for employment over and over again and get rejected over and over again, you simply open your own office or workshop after you complete your training and start your own business venture.

    There are numerous furniture makers (carpenters), fashion designers, bakers, hair stylists, mechanics, welders and several other craftsmen around me. In each case, these men and women who learnt a vocation get to generate income from the vocation they learnt.

    Not every one of these men and women get to generate millions of Naira in revenue per annum. But they generate enough to get married, support a family, and get some of the good things of life.

    More importantly, they do NOT beg. They are proud business people who do valuable work (with pride) and meet their daily needs.

    This is a wonderful option that effectively addresses the question of how to make money in Nigeria. And with a little creativity, you could become one of the few who grow their vocation into multi-million Naira businesses.

    Golden Faith Academy offers vocational training for people who want to take charge of their destiny. I suggest you take advantage of this program.

    4. Learn the art of trading and start yours

    Some people choose to learn the art of trading and thereafter start their own trading business. This is also a good option.

    The majority of trading businesses are small-time traders who are retailers of fast moving consumer goods (FMCG) popularly called 'provisions', recharge cards, electronics, mobile phones, and more.

    If you decide to become a trader, you simply become an apprentice or office assistant of a businessman involved in the particular kind of trade you are interested in, and then learnt the ropes . . . all the tricks and techniques involved i winning customers and satisfying them enough for them to give you their money.

    After you graduate, you then open your on trading store and become a trader.

    5. Learn the science of production and start your own small scale factory

    What is production?

    Production is the process of converting inputs to outputs by taking the inputs through a transformation process.

    That is . . .

    Inputs + process = Outputs

    For example, if you want to produce a beverage drink like Milo, you simply . . .

  • determine the ingredients required
  • the quantity of each required per batch of production
  • Blend or mix them together for a suitable duration of time
  • Cook it using an oven process
  • Grind it into the right particle size and
  • Packaging in your preferred packaging materials

    In the description above, you will notice two categories of materials . . .

    1. The ingredients or raw materials to make the beverage and

    2. The packaging materials to contain and transport the finished product

    The quantity of each ingredient you need to make a batch of the beverage is called the recipe.

    Why is manufacturing or production a profitable option . . . an option that effectively addresses the question of how to make money in Nigeria?

    The reason is simple. It is because production is a high margin business.

    Think about the billions of Naira in sales generated by Nestle, Guinness, Nigerian Breweries and the other manufacturing businesses in Nigeria and you will understand the power of manufacturing business.

    Interested in starting a production or manufacturing business?

    Talk to Samson Itoje, Nigeria's foremost manufacturing expert with 13 years experience in manufacturing in a multinational environment in Nigeria.

    Also read the book, "How To Build A One Billion Naira Business With Small Capital - The Secrets of the Rich Exposed!" by Samson Itoje (my humble self).

    6. Start an internet business

    An internet business is a cool way to generate income without stress.

    I have an internet business that generates thousands of Naira in revenue every month even without me lifting a finger.

    The advantage of a home based business using the internet is that you do the work once and enjoy the benefits forever. This is what is called residue Income.

    When your web site becomes popular, you simply relax and enjoy the money.

    Here's a note of warning.

    1. You will not become rich over-night when you start your own online business

    2. To succeed online as an internet entrepreneur, you must use the right process and the right tools. If you don't, you may fail woefully as millions have.

    So, I highly recommend you use the same software that I use that have consistently delivered targeted traffic and income to my sites. That software is Site Build It! (SBI!).

    I recently released a book to teach folks like you the secrets of a successful, profitable online business. The title of the book is,

    "How To Make Money From The Internet - A Step By Step Guide To Making Honest Income Online".

    I highly recommend you read this book. It's a powerful resource you cannot afford not to have in your library.

    I also offer a monthly online business training or seminar to help folks grasp the basics of making cool, honest money from the internet so they can achieve financial freedom.

    There is nothing like an instructor-led training. So, attend this training if you are serious about changing your financial destiny.

    The discussion above effectively answers the question of how to make money in Nigeria. What's next?

    Read and re-read this article. And choose the option that you believe will work best for you (in your quest to answer the question how to make money in Nigeria)

    I wish you true success.

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