If you’re a student or have ever been a student especially during your university days, you will agree that your need for independence feels strongest at this time. There are bills to pay in school, bills to sort out, and money to needed to buy books, eat well and have some fun; which means if you lack money, the stress on you would be unbelievable.
Most of us passed through the Nigerian university system and I daresay it’s similar in many other parts of the world. Long story short, you need to have your own money in school. It doesn’t have to be a whole lot though it can be if you know your way around it.
In this post, we have taken a deep dive into research the many money making opportunities you can explore to start making money as a student. Read on to learn the 20 ways for students to make money in Nigeria in 2023.
You may already know some of these methods but definitely not all of them. Are you ready to get started?
Let’s go!
1.) Organize Online Classes
Yes, it doesn’t have to be physical classes. If you are good in a particular subject matter, consider starting an online tutorial class for it and sharing your community link on social media. Your course mates can pay a minimal fee for you to brush them up on the courses you are knowledgeable about.
Over time, you are likely to have a large following on social media and students from other institutions can follow your page as well. Here’s a tip: give a thought to individuals who are writing specific exams like NECO, WAEC, GRE, SAT, IELTS and other similar external exams.
Teaching people who are writing such exams have been known to be profitable especially when you have the numbers. Imagine charging as high as 20K per month for each student under your tutelage. A friend I know charges N40, 000 per student for a period of 30 days.
Now, add a good number of volumes to it and you’re good to go to enjoy some great profits on this business idea.
2.) Run an Ecommerce Business
Ecommerce business is one of the best online businesses anyone can start as a student in Nigeria. Though this business model has several moving parts, it can be automated to an extent where you will still have enough time for yourself.
Several coaches teach Ecommerce business and you can find their courses on affiliate platforms like Expertnaire.com, Stakecut.com and Digitstem.com.
Basically, it involves buying in-demand products at a low cost and reselling them online on your web store or social media pages. Popular products to consider include fashion items like shoes, bags, clothing, essential items like gadgets, supplements and other items that have a substantial demand.
For Ecommerce to work, all the moving parts have to work together as a whole. It is important to be able to reach wider audiences using Facebook and Instagram ads, and influence marketing.
The major challenge of starting an ecommerce business is getting paid as soon as you deliver. Most buyers prefer to pay on receiving the products while most sellers prefer to receive payments before shipping. The problem is this, unserious customers will place an order for a product only to abscond when the delivery is scheduled.
Serious customers who pay ahead are sometimes shipped faulty or bad products. As you can see, there’s need for a middle ground where both parties can be mutually satisfied. The solution is branding, once you have a known reputable brand with a human face, your customers will know you, like and eventually trust your business enough to pay before delivery.
3.) Sell Gift Cards
Buying and selling gift cards is a good way to make money without getting involved in complexities. As a student, you can make money online in 2023 by buying gifts cards at low prices and reselling them at high rates.
First, you need to understand that gift cards are national assets that can be used to purchase items online on certain marketplaces. Examples of marketplaces that offer gift cards are brands like Ebay, Amazon, Bestbuy, Walmart, Apple, etc
The basic way to make money from gift cards is by winning one and selling it for money on platforms like Cardtonic when the value rises.
4.) Lifestyle Vlogging
If you’re fond of visiting places or travelling, consider shooting videos of yourself talking about your experiences. You could capture live streams of your time at the location and share with your followers on viral platforms like Instagram, Tiktok and Snapchat.
Brands love lifestyle vloggers who have hacked this activity and will pay handsomely to use their services for influencer marketing especially when the vlogger has an engaged following. You will make money from ads and ambassadorship deals from different brands.
To start, you can consider going on a cheap trip, doing a quality video and sending to the brand to consider an affordable publicity deal. If this works out, you rinse and repeat until you have significant engagement and can pitch at the bigger fishes.
5.) Blogging
Blogging if done right will turn you into a big boy chasing sapa far away from you for life. Blogging is done by creating interesting, searchable content on a blog. Visitors on this site can read content you’ve posted to gain value.
If you own an interesting blog with a decent visitor rate, you can earn money by selling products to your audience. Affiliate links of products can also be placed in some of the content, with a call-to-action at your visitors to try out the products.
Another income stream for popular blogs is advertising space; brands will pay you to host their ads on your space. In addition, heavy tech giants like Google have a partnership program for media publishers a.k.a bloggers whereby you get paid when visitors click on ads of Google’s customers shown on your blog.
The more clicks on the ads and action taken on the destination website, the more revenue you earn as Google pays you a fraction of advertising dollars from their partners. This program is known as the Google Adsense program.
6.) Affiliate Marketing
Affiliate marketing is a business that is as old as time literally. It involves earning a commission on a sale by a middleman who connects a buyer to a seller. A vendor or seller has a product which a buyer wants, but can’t find, an affiliate partner or marketer can close this sale and the vendor pays him a part of the money as a reward for his or her effort.
Bringing it to our world today, many products have affiliate packages that reward affiliate partners who sell them. Affiliate marketing has become even more popular in recent times with the growth in selling digital products in Nigeria. Many young people have delved into and experienced great success in affiliate marketing through platforms like Expertnaire, Digitstem, Stakecut, Selar and several others like them.
Would you love to start making money from Affiliate marketing? Check out this affordable training on how it works here.
7.) Freelancing
Freelancing is another way young people are making money online in Nigeria in 2023. With freelancing, all you have to do to make money is to provide digital skills or services to clients online who will pay handsomely for it.
With freelancing, you work directly with a person or company that needs your service. You’re basically your own boss and earn what you can get. Certain freelance sites like Fiverr and Upwork act as a marketplace for brands and individuals that need tech or digital service providers and freelancers who can provide a solution to meet and exchange value.
There are many services that can be offered in freelancing business. These services include YouTube editing, copywriting, branding, video editing, writing, graphic design, web development and design, etc. To offer freelance services and get paid decently well, you need to be good at the skill and learn the business of selling your services.
8.) Skit Making
The skit making industry in Nigeria has bloomed and made many young people millions beyond their imaginations. Daily new entrants are going into the skit making industry to create funny, creative videos and building crazy followership on social media. Skit making rewards creators by offering ambassadorship deals and advert placements in exchange for their creativity.
And the best thing about this enterprise is that there’s no barrier to entry, if you’re funny, creative and can act decently well in front of a good phone camera, then most of the hard work is done. With video taking a huge chunk of online content, skit making will continue to be profitable and any young person can get in today to get a slice of the proverbial pie.
Start creating those videos today and your make money online journey would begin immediately. What are you waiting for?
9.) Virtual Assistance services
The emergence of digital work also came with the need to have assistants who can help virtually from any location. Virtual assistants are remote workers who help a client or a firm to carry out certain work activities usually related to administrative services.
A virtual assistant can help out with typing documents, arranging or inputting data, sending our emails or cold calling leads. Virtual assistance roles are often available and with proper positioning, any young person regardless of their experience can snag any one of such opportunities. Marketplaces like Upwork, Fiverr and social media platforms like Facebook, and Twitter are great places to get virtual assistance clients.
10.) Data entry specialist
The practice of precisely and quickly entering different kinds of data from source documents or input devices into digital systems or databases is known as data entry. It entails ensuring the data is organized correctly, quickly, and accurately. Considerations including automation, security, and quality control are crucial in this procedure.
Accurate recordkeeping, decision-making, and company operations are supported by data entry. Lot of businesses need the input of professional data entry experts who know how take data, analyze and input it correctly where it’s needed.
11.) Software development
In the rapidly changing digital era, software development is a dynamic and in-demand job path. It entails creating, testing, and maintaining the software programs that run our modern world. A software developer’s job is to turn concepts into useful products, making them crucial players in a variety of sectors, including banking, healthcare, entertainment, and e-commerce.
The benefits of a profession in software development are numerous. Because of the continued strong need for qualified developers, there is a steady job market and market-competitive wages. With the option of remote work and freelancing, developers frequently benefit from flexible work arrangements. The field requires ongoing study since technology changes so quickly.
By doing this, developers are constantly presented with fresh problems and possibilities, cultivating a growth mindset.
12.) Website design
Web design is a skill that will always be in demand as long as the internet exists. New and existing businesses need an online presence and websites provide a good way to make this a reality. If you’re a student, learning how to design websites using different content management systems is a great way to make money in Nigeria in 2023 and beyond. You can choose to sell your web design service on freelance platforms or independently as a private contractor.
One of the best web design services to learn is WordPress website design. It’s easy and straight-forward to grasp, learn and execute once you’ve mastered the basics. Sell your web design skills to local businesses, artisans, musicians and any other notable person in your locality and you’ll be happy to make good money out of this ability.
13.) Video Editing and Animation
With videos running rampant all over the place, there’s a relatable need for the experts in video editing and animation. If you’re good at editing videos and animation, there’s never been a better to make a lot of money in Nigeria as a student in 2023 than now. Opportunities have never been this plenty like never before. Tools like Adobe Illustrator, Photoshop, Capcut, and several others are great for editing and animating videos.
14.) Cooking and Baking services
Cooking and baking are skills that are always in demand because people must eat to stay alive. For students looking to make money in Nigerian in 2023, consider cooking and baking meals commercially for people who are too busy to cook. A good number of people now offer food vendor business which can be very profitable. You can cook or bake on a per order basis to reduce the chances of wastage.
15.) Crypto-trading
Crypto trading and its brother Forex trading has presented young people, including students with an avenue to make money even with minimal capital once the trading skill is learned. Crypto-trading basically concerns buying tokens or crypto coins for low and selling when the price goes up to make a profit on the differential.
Crypto-trading can be done on decentralized exchanges like Binance, Bybit, Mexc, Kucoin, and Bitget. You will also need tools like Trustwallet, Metamask wallet and trading tools like Trading view.
Advantages of Making Money as a Student
Here are four advantages of earning money while still a student in Nigeria: financial independence, a sense of responsibility, income growth, and discovering your mission.
Financial Freedom:
You’re aware that having money can bring you peace of mind, right? simply having N100,000 in your account, sitting there idle. Making money is the only way to accomplish this.
Plus, if you don’t work, you obviously can’t eat. It is clear why earning money while in school is essential if you want to achieve financial independence and outdo Sapa.
READ: How to Get Out of Credit Card Debt in 2023
Sense of Responsibility:
We are all aware that Sapa can only be defeated by the accumulation of money. But aside from that, earning money on your own while you are still a student gives you a sense of success.
You won’t be able to tell the difference between what you need and what you want until you work for your money and understand its value. In other words, you’ll use your hard-earned money with extreme caution when you can tell this difference!
Increase your income:
Most students can’t really flex and chill with their parents’ allowance. This is because the money often received is never enough to use at a stretch and enjoy life. However, with hustles like cryptocurrency and gift cards, you can make more money with ease and flex like a boss!
Discover your purpose:
When you have a side business while still in school, you will notice that there is more to life than the course you are studying. You will finally realize you probably might not even need to practice the discipline you studied in school.
Imagine earning $500k or more while still in school, yet your side hustle has nothing to do with your studies! Your motivation and purpose will have a major shift!
Frequently Asked Questions About How To Make Money as a Student in 2023
What Skills Do I Need to Make Money in Nigeria as a Student?
As a student looking to generate money in Nigeria, you would require talents such as writing, marketing, graphic design, and so on. It is vital to note that the talent you will gain will be determined by the type of online job you choose.
Can I Make Money in Nigeria as a Student Without Any Capital?
Yes, there are ways to make money without investing any money, such as affiliate marketing, blogging, freelance writing, and so on.
In 2023, how can I make money online?
As a student in 2023, you can conduct a variety of occupations such as online coaching, blogging, e-commerce, freelancing, information marketing, and so on.
Can I Make Money Online in Nigeria as a Student?
Yes, you can make money as a student in Nigeria, and you can do it while still in school by applying for jobs online.
Final Words
Being a student is no longer an excuse as some young people are really doing great things and making millions. The internet has become an equalizer, a level playing ground for everyone regardless of status and endowments.
This is the easiest time for anyone to become a millionaire. There are several ways that can help students generate thousands of dollars every month and beat Sapa blue black.
To make money online as a student in 2023, the best way to go about it is to read this article first of all. Next, find a mentor in the field you want to learn, pay them what they ask for and follow their directions. Slowly but surely, you will conquer the challenges of Sapa and eliminate it entirely.
When you make money online as a student in Nigeria, especially millions, you will enjoy time freedom, location flexibility, be your own boss and live your best life at an early age.
The question is, are you ready to get started now?
