In Nigeria, many people are struggling to make ends meet. If you’re one of them, then this article is for you! As the title says, explained 15 passive income ideas can help ease your burden and give you more time to focus on what’s important.
These Are The Best Passive Income You Can Start In Nigeria
- Affiliate Marketing
- Blogging
- Dropshipping
- Website design
- Freelance writing
- Coding
- Internet security
- Video and Audio production
- App development
- SEO
- Photography
- Crypto Trading
- Social media Influencing
- Uber driving
- Dry cleaning
Affiliate Marketing
Affiliate marketing is a great way to make passive income. There are several affiliate programs that you can join to start making money today.
One of the most popular affiliate marketing programs is Clickbank, there are others like Sharesale, Partnerstack and Jvzoo. This program allows you to promote products from various companies. You can earn commissions on sales that your readers make through your links.
Another excellent affiliate marketing program is Amazon Associates. With this program, you can promote products from Amazon.com. You will earn a commission on your readers’ sales through your links.
There are also many other affiliate marketing programs out there that you can join. If you are interested in starting a passive income stream, then be sure to look into affiliate marketing. It is an easy way to make money without any upfront costs.
How Do You Become An Affiliate Marketer?
1. Find an affiliate program that fits your niche.
Before you can start promoting a product, you first need to find an affiliate program that matches your interests and spending habits. There are many different affiliate programs available, so it’s important to do your research to find the best one for you.
2. Determine your budget.
Before you start promoting a product, determine how much money you’re willing to invest in order to make money. Spending too much money on advertising or signing up for too many programs will ultimately divert your time and energy from making money online. Stick to programs that offer products and services that fit within your budget.
3. Create a strong content strategy.
Your website must be well-written and informative in order to generate traffic and convert leads into customers. Plan your blog posting schedule carefully in order to produce high-quality content that will attract readers.
Include valuable tips and advice, as well as you can also make money by providing content on your website that leads people to buy products from your affiliate partners.
The Different Types of Affiliate Marketing
There are several different types of affiliate marketing, and each has its own benefits.
1. Pay-per-click (PPC) affiliate marketing: This type of affiliate marketing involves paying website owners or marketers to send traffic their way. The advertiser pays the affiliate when someone clicks on the advertiser’s ad.
2. CPM (cost per thousand) affiliate marketing: With this type of affiliate marketing, the affiliate is paid based on how many times a visitor clicks on their advertisement or message.
3. Share-based affiliate marketing: In share-based affiliate marketing, the affiliate is rewarded for each share of the advertiser’s content that they generate. This can be done through social media sharing buttons or by embedding a share widget on the affiliate’s website.
4. Lead generation affiliate marketing: With lead generation affiliate marketing, the affiliate is rewarded for generating leads for the advertiser. The lead generation process can involve anything from sending email campaigns to cold prospecting (i.e., contacting people who have not shown an interest in your product or service yet).
The Advantages of Affiliate Marketing
By now, most people are well aware of the benefits of affiliate marketing. Affiliate marketing is a great way to earn a commission on products you’ve tested and recommended.
1. You Can Earn a Steady Income
Affiliate marketing can be a steady income source. If you promote a product consistently and have a good reputation, you may be able to generate a monthly income from affiliate marketing.
2. You Can Minimize Your Time Investment
Most affiliate marketing programs require a minimal time investment. You simply need to submit your links and promote the product you’ve chosen. There is no need to create your own content or design your own website.
3. It’s Easy to Get Started
Many affiliate marketing programs offer easy sign-up procedures and helpful tutorials that walk you through the process. There is hardly any learning curve involved, so you can get started quickly.
2. Blogging
One of the easiest ways to generate passive income is by creating a blog. Blogging is a great way to share your knowledge and experience with others and can be a great way to make money.
If you’re just starting out, then it can be hard to know where to start.
Here are some tips on how to get started as a blogger:
- Choose a niche
- Choose a platform
- Write regularly
- Promote your work
- Don’t be afraid to experiment
1. Choose a niche. Before you write anything, you need to decide on a topic that interests you. This will help you narrow down your writing and make it easier to find an audience. Once you have your topic, start researching the latest trends and developments in that field.
2. Choose a platform. Once you’ve chosen your topic, it’s time to decide which platform to use to share your work with the world. WordPress is one of the most popular platforms for bloggers because of its easy customization and wide range of plugins and extensions available. Alternatively, Google Docs and Microsoft Word offer basic online publishing capabilities without the need for any additional software. Whatever platform you choose, make sure you have access to an editor so that your content looks professional.
3. Write regularly. The key to being successful as a blogger is a consistency – write at least once a week. This will help you build an audience for your work and attract sponsors who may want to support your cause.
4. Promote your work. Once you’ve written something great, it’s time to promote it. Use social media platforms like Facebook and Twitter to reach out to your audience and let them know what you’ve been writing about. You can also use online directories like Google Sites and Digg to draw attention to your work.
5. Don’t be afraid to experiment. If you’re new to blogging, don’t be afraid to try new things. Experiment with different formats, write longer pieces or include multimedia content in your posts. The key is to keep things interesting for your readers and ultimately help them learn something new.
In the article Principles of Niche Blogging: 15 Step-by-Step Guide to a Successful Niche Blog I wrote extensively about niche blogging.
Use Namecheap For Your Blog
Namecheap is a great option for bloggers who need a quality domain name and affordable hosting. They offer a wide variety of domain names and hosting plans that are perfect for small businesses or bloggers.
To get started with Namecheap, sign up.
Once you have an account, browse and check if your domain is available. If you have done that, register to secure it.
Namecheap offers a range of plans starting at $2.18 a month.
Their most popular Namecheap plan and the recommended (Stellar Plus) includes the following benefits
- Domain Name
- Unlimited Websites
- Unmetered SSD
- Unlimited Domain-Based Mailboxes
- AutoBackup
Try Namecheap for your blog now.
I wrote a review: Why I Recommend Namecheap for your Website Hosting.
3. Dropshipping
Dropshipping is a great way to start your passive income stream in Nigeria. You don’t have to spend money on expensive advertising or product packaging with drop shipping. You sell products without having to carry any inventory.
To drop ship, you first need to find products you can sell. You can find products that are already available online or products that are not yet available online.
Here Are the Steps You Need To Take To Become A Dropshipper:
1) Decide what type of products you want to sell.
2) Research suppliers who offer high-quality products at affordable prices.
3) Set up an account with an online marketplace (such as Amazon or eBay).
4) Find products that you want to sell and add them to your marketplace account.
5) Wait for buyers to contact you about purchasing your products.
6) Negotiate sales deals with buyers and ship products immediately.
The Advantages of Dropshipping
Here are many reasons why entrepreneurs should consider dropshipping as their passive income of choice. Here are six key benefits:
- Low overhead
- Increased Revenue
- Reduced cost
- Greater flexibility
- Reduced Time Investment
- Increased Freedom
1. Low Overhead: With dropshipping, you don’t have to spend money on inventory or shipping fees. Instead, you pay the supplier directly for the products they provide you. This means that your overhead costs are low, enabling you to focus on growing your business rather than shelling out unnecessary cash.
2. Increased Revenue: With drop shipping, you can generate significant revenue by selling high-demand items at lower prices than traditional retailers. This approach is especially effective when paired with a marketing strategy that targets affluent customers.
3. Reduced Costs: Because you don’t have to purchase or maintain a physical inventory, dropshipping can significantly reduce your business costs. This includes expenses such as storage, shipping, and marketing expenses.
4. Greater Flexibility: With drop shipping, you are able to tailor your product offerings to meet the needs of your target market. This allows you to increase your profits by catering to customer preferences.
5. Reduced Time Investment: With dropshipping, you don’t need to spend hours online searching for products or building an online store from scratch. You can instead focus on growing your business and finding new suppliers.
6. Increased Freedom: With dropshipping, you can operate your business in a way that is convenient for you. This means that you can work when it’s most convenient for you without having to worry about deadlines or the hassle of managing a physical store.
Recommended Dropshipping tool: Spocket
Spocket is a tool that allows you to dropship products from Amazon. It’s a browser extension and a toolkit that makes it easy to find, add, and manage products from Amazon.
How to use Spocket for Dropshipping
To start using Spocket, first install it on your computer. Once it’s installed, open the extension and click Add a product.
Then, enter the product URL into the field at the top of the window and click Go. Spocket will take you to Amazon’s product page for that product.
Click on the Add to cart button next to the product you want to dropship and click Go again. This will add that product to your shopping cart on Amazon.
Now, all you have to do is fill out your shipping information and checkout like you would any other purchase on Amazon. Spocket will take care of adding the product to your cart and shipping it out to you!
How To Use Spocket For Dropshipping
Spocket is a tool that can be used for dropshipping. It allows you to connect to various e-commerce platforms, order fulfillment services, and payment processing providers. This makes it easy to get started with dropshipping.
To use Spocket, first create an account. Then, click on the “Connect” button. This will allow you to connect to various e-commerce platforms, including Amazon, eBay, and Alibaba. You can also use Spocket to connect to fulfillment services and payment processors.
Once you have connected to these platforms and providers, you can start orders. To do this, click on the “Orders” button. This will open the “Order Details” window. Here, you will need to enter the information for your order, including the product name, price, and quantity. You can also add notes about your order.
Once you have entered all the information required for your order, click on the “Submit Orders” button. This will submit your orders to the platforms connected to Spocket.
Using Spocket makes it easy to get started with dropshipping. It allows you to connect to a variety of e-commerce platforms, fulfillment services, and payment processors
What Are The Benefits Of Using Spocket?
There are many benefits to using Spocket for dropshipping. Firstly, it’s very easy to use. Secondly, it has a wide range of features to help you run your business more efficiently. Finally, it’s affordable, making it a great option if you want to start dropshipping without spending a lot of money.
How To Create A Product Listing With Spocket
If you’re looking to start selling online, dropshipping could be a great option for you. Dropshipping is a great way to start your own business by selling products you design or buy from other sellers on the internet.
To create a listing with Spocket, first sign in to your account and click on “Listing Manager.” In the listing manager, you will need to create a product listing. To do this, click on “Product Listing.” You will then need to fill out the following information:
1. Product Name
2. Description
3. Picture
4. Price (USD)
5. Category
6. Quantity
7. Click here to add a Product Video
8. Weight (lbs)
9. Country of Origin
10. SKU (Stock Keeping Unit)
11. Add a Promotion or Discount Code
12. Add Shipping Information
Once you have completed the listing, you will need to add products to it by clicking on the “Add Products” button and filling out the following information:
1. Product Name
2. Description 3. Picture 4.
How To Set Up Your Shop With Spocket
If you’re looking to start a dropshipping business, you’ll want to use Spocket. Spocket is a tool that makes it easy to set up your shop and keep track of your sales.
To get started, first create an account with Spocket. Once you have an account, you’ll need to create a shop. To do this, head over to the Shop section and click on the New Shop button.
Next, you’ll need to specify some basic information about your shop. This includes your shop’s name, description, and categories. You can also add images and videos to help promote your shop.
After you’ve created your shop, you’ll need to add products. To do this, head over to the Products section and select the product you want to sell from the list of options.
Next, you’ll need to add a price and quantity for each product. You can also add shipping information and any other specific details about that product.
After you’ve added all the products you want to sell, head over to the Sales section and hit the Start Selling button. You can now monitor your sales and adjust your prices as needed!
How To Promote Your Products With Spocket
If you’re looking to start a dropshipping business, using Spocket is one of the best tools out there. It’s a platform that helps you connect with suppliers, manage orders, and ship products.
Here are some tips if you’re using Spocket:
1. Connect with suppliers. While the majority of your products will come from suppliers located in countries near you, you’ll also want to connect with suppliers in other parts of the world. This way, you can tap into a wider range of products and services.
2. Manage orders. If your product lines range in price, it can be difficult to keep track of how many units each supplier is shipping and how much money you’re spending on inventory. With Spocket, you can easily manage orders and see which products are selling well.
3. Ship products. When it comes time to ship your products, Spocket makes the process easy and efficient. You can create shipping labels and even track packages as they make their way across the globe.
If you’re looking to start or expand your online business, dropshipping is an incredibly effective way to do so. But it’s not easy — and that’s where Spocket comes in. This app allows you to create custom listings for products you sell, manage your inventory and shipping, and even send you alerts when there are sale items available for purchase! With Spocket by your side, starting a successful online store has never been easier.
Use Spocket For Your Dropshipping Now
4. Website Designing and Development
One of Nigeria’s most popular passive income ideas is website design and development. If you can create a high-quality website, you can generate a lot of income from it.
I started making money on Fiverr long ago and website design brought in most of the money.
There are several ways to do this. You can offer website design and development services directly to clients.
You can also market your services through online advertising campaigns or social media. In addition, you can sell web hosting and domain names.
There are several different website design and development tools available today.
If you are new to this field, choosing the right tool for the job is essential. Many free tools are available online, but some are less reliable than others. It is also necessary to select the right software for your specific needs.
If you are interested in starting a passive income business in Nigeria, website design and development is one of the best options available today.
Recommended Tool to Start Website Design: Elementor
How to use Elementor for Website Design
Elementor is a website design and development tool that allows users to create custom websites from scratch, or to improve existing websites.
If you’re looking for a comprehensive, user-friendly website design platform, Elementor should definitely be at the top of your list. This drag-and-drop website builder is perfect for anyone who wants to create a simple or complex website without any prior coding experience.
It offers drag-and-drop functionality and a wide range of design templates. Elementor also includes features such as blog creation, social media integration, and e-commerce capabilities.
How to use Elementor for Website Design:
1. Launch the Elementor website design platform.
2. Choose a template or create your own.
3. Add content and images.
4. Customize the layout and style of your site.
5. Publish your site online or share it with family and friends!
Benefits of using Elementor
Elementor is an excellent tool for website design. It has a wide range of features, is easy to use, and provides great results. Here are some of the benefits of using Elementor:
- Elementor is versatile and easy to use.
- It has a wide range of features that can be tailor-made to meet your needs.
- It provides great results quickly and easily.
- It’s affordable and easy to use.
Recommended Product: Elementor Try it Now
5. Freelance Writing
There are many ways that you can make passive income from home. One of the easiest and most popular ways to make passive income is by freelance writing.
How to Get Started as a Freelancer
Freelancing is one of the most popular career paths to generate passive income.
There are many benefits to freelancing, including the freedom to work from home, the ability to set your own hours, and the opportunity to work with a variety of clients.
If you’re interested in becoming a freelancer, there are a few things you need to do first. First, make sure you have plenty of ideas and content that you can sell.
Once you have this content, start building a portfolio of your work. This will show potential clients what you can offer them and help you stand out from the competition.
Once you have a strong portfolio and some clients, it’s time to get started freelancing. The best way to do this is to find freelance projects that match your skills and interests. You can find freelance projects on websites like UpWork and Fiverr, or by networking with other freelancers.
The Advantages and Disadvantages of freelancing
Freelancing can be an extremely rewarding and empowering experience, but it also has its own set of advantages and disadvantages. Here are some of the key advantages and disadvantages of freelancing:
Advantages of freelancing
1. Flexibility: Freelancing gives you a great degree of flexibility in terms of when, where, and how you work. You can work from home, from a café, or even on the go – whatever works best for you.
2. Independence: As a freelancer, you are largely self-sufficient and responsible for your own income. This can be a tremendous asset if you’re looking to take on new challenges or break out into new fields.
3. Variety: As a freelancer, you are free to explore various creative and professional avenues that may not be available to you in a traditional job setting. This can be a great way to learn new skills and develop your portfolio.
4. Increased opportunities for freelance work: As a freelancer, you are likely to have greater access to high-quality work than you would in a traditional job. This means more opportunities to hone your skills and grow your portfolio.
5. Greater control over your career:
6. Coding
If you want to make money from the internet, you can start by becoming a coder. Coding is a skill that is in high demand, and it doesn’t require a lot of education or experience to learn. There are plenty of online courses that will teach you how to code.
Once you know how to code, you can start creating websites and apps and turn them to a passive income stream.
Websites are a great way to promote your business or product, and apps can be used to make money. You can sell these products online or offer them as a subscription service.
Coding isn’t the only way to make passive income. There are also opportunities to make money online but coding is a great way.
A visit to Fiverr or Upwork will show you the amount of money coding is generating every day.
7. Internet Security & Privacy Services
One easy way to make passive income is to invest in services that help protect your online privacy and security. Several of these services are available, and they all cost money to maintain.
However, using these services ensures that your online data is safe from theft and hacking.
If you can learn the basic and invest in using the right tools, you will be glad.
8. Video & Audio Production
One of Nigeria’s most popular passive income ideas is video and audio production. Several companies offer this service, it can be a great way to make money.
One option is to start a video production company. This type of company can create video content for businesses or individuals. They can also produce videos for marketing purposes and sell them online or through other channels.
Another option is to start an audio production company. This type of company can create audio content for businesses or individuals. They can also produce podcasts, audiobooks, and other types of audio files.
Both types of companies require some technical knowledge, but they are relatively easy to set up and manage. If you have the skills necessary, you can start your own business in this area and make money online.
9. Apps & Web Development
This type of business can be created by creating a website and developing custom websites for clients. You can also offer web development services to small businesses in Nigeria.
Another option is to start an app development business. This type of business can be formed by creating custom apps for customers. You can also develop applications for businesses in Nigeria.
Apps and app development are two of the most popular passive income ideas in Nigeria today.
10. SEO Services
One of the easiest ways to start making passive income in Nigeria is through the use of search engine optimization (SEO). With SEO, you can increase your website’s visibility and traffic by optimizing it for search engines such as Google, Yahoo! and Bing. This can be done through things like adding keywords to your website, creating quality content, and setting up backlinks to your website.
There are many other passive income ideas that you can explore in Nigeria. If you have a creative mind and are interested in starting your own business, plenty of opportunities are available. Just be sure to research the different options available and find the right one for you.
Tools like Ahrefs, Semrush must be your companions.
11. Photography
If you’re looking to start generating passive income from your photos, there are a few different ways you can do it. One option is to sell your photos online through sites like Shutterstock.com. You can also offer them as prints or digital downloads through services like Etsy.com.
If you’re interested in turning your photos into a full-time business, you can start by photographing weddings and other events.
You can then offer your services to clients through websites like WeddingWire.com. Alternatively, you could begin with a photojournalism company and sell prints or digital copies of your work online.
12. Crypto Trading
One easy way to make passive income in Nigeria is through cryptocurrency trading. Several platforms allow you to trade cryptocurrencies, and the fees associated with these platforms are usually meagre. Example os a good one I Binance.
You can also invest in various digital assets using these platforms.
This is a great way to gain exposure to new investment opportunities without dealing with the risks associated with investing in stocks or bonds.
Cryptocurrencies are still somewhat volatile, but this volatility usually only lasts for a short period. As long as you are patient and do your research, you should be able to make a lot of money trading cryptocurrencies in Nigeria.
13. Social Media Influencing
One of the best passive income ideas you can start in Nigeria today is social media influencing. Social media is a great way to connect with potential customers and promote your products or services. It’s also great to build relationships with customers and keep them updated on your latest developments.
To start social media influencing, you first must decide what social media platforms you want to use. You can use Facebook, TikTok, Twitter, Instagram, or LinkedIn, for example.
Once you have decided which forum you want to use, you need to create a profile for your business. This profile should include your company, products or services, and how to contact you.
Once you have created your profile, it’s time to promote your business. You can share exciting posts, pictures of your activities, and even create videos about your business. The more content you produce, the better!
Social media influencing is a great way to build relationships with potential customers and promote your products or services.
It’s also a great way to keep customers updated on your latest developments. If you’re interested in starting a passive income stream through.
14. Start Uber drive
One of the easiest ways to generate passive income is by driving. This is a great way to make some extra money while free to do other things. All you need is a car and an Uber account.
Sign up, enter your location, and start driving. You can earn cash each time you pick up a passenger and drop them off.
You can also use this opportunity to build your own business. If you are comfortable driving, you can start charging passengers by the ride or hour. You can also offer other services like luggage transport or car rental. Whatever you choose, make sure you make the most of your Uber drive and earn as much money as possible.
15. Dry cleaning
Dry cleaning is a great passive income idea for those looking to start their own business. With the right equipment and a little know-how, you can begin to dry clean your clothes in no time.
You’ll first need to set up a small dry cleaning business to get started.
This means buying the right equipment, including a washing machine, dryer, and ironing board.
Finally, you’ll need to find customers who trust you with their dresses.
Passive Income On LinkedIn
LinkedIn is a great way to generate passive income. There are several ways to make money through LinkedIn, and all of them are relatively easy to start.
The first way to make money through LinkedIn is by joining groups and participating in conversations. This is a great way to build your network and connect with potential customers.
Whenever someone enters your group or starts a conversation with you, it’s an opportunity to sell them something or give them the information they need.
Another way to make money through LinkedIn is by creating articles and blog posts. You can write about any topic that interests you and sell the rights to other people to your articles or blog posts.
This is a great way to earn money from your knowledge and expertise.
Finally, you can also offer services on LinkedIn. This is a great way to monetize your skills and knowledge.
You can offer consulting services, write articles for others, or provide marketing advice. Anything you can do to help other people, you can potentially earn money from LinkedIn.
If you’re located in a large city, it may be easier to find customers than if you’re located in a smaller town. However, regardless of location, developing a good marketing strategy and ensuring your advertising is consistent is essential.
Once you have a solid foundation, it’s easy to continue growing your business by adding new services or expanding your customer base.
The Importance Of Passive Income Planner
One way to generate passive income is to use a passive income planner. This tool will help you estimate your total passive income potential and plan to reach that goal.
There are many different types of passive income available, and you can choose the one that best suits your needs. Some familiar passive income sources include rental properties, real estate investments, and online businesses.
To get started, you need to gather information about your current financial situation and your goals for the future. Then, you can use a passive income planner to determine which investments will generate the most money for you over time.
Passive income is a great way to supplement your income and reach your financial goals. If you’re interested in generating passive income, consider using a passive income planner to help you get started.
Is Passive Income Taxed?
Passive income, such as rental income, dividends, and interest, is taxed similarly to active income. This means that you are usually taxed on your passive income profits.
There are a few exceptions to this rule. For example, capital gains tax (taxes on the profits made from selling property) is usually lower for passive income than for active income. This is because capital gains are realized when you sell property, while passive income is received without any work performed.
Another exception to the rule is the self-employment tax. This tax is paid by people who earn income through their businesses. Passive income from self-employment is treated as active income for calculating this tax. This means you must pay self-employment tax on your passive income.
Final Thoughts
I do hope this article helps you get started in the right direction. You can pick one of these passive income earners, do extensive research about it and drive with it.
Be motivated to do more for yourself from now.
