The economy of Nigeria is a middle-income, mixed economy and emerging marketwith expanding manufacturing, financial, service, communications, technology and entertainment sectors. It is ranked as the 27th-largest economy in the world in terms of nominal GDPand the 22nd-largest in terms of purchasing power parity. Nigeria has the largest economy in Africa; its re-emergent manufacturing sector became the largest on the continent inand it produces a large proportion of goods and services for the West African subcontinent. Population increased from million in to million in Nigeria produces only about 2. The largely subsistence agricultural sector has not kept up with rapid population growth, and Nigeria, once a large net exporter of food, now [ when? According to a Citigroup report published how do nigeria make their money FebruaryNigeria will have the highest average GDP growth in the world between and Nigeria is one of two countries from Africa among 11 Global Growth Generators countries. InNigeria changed its economic analysis to account for rapidly growing contributors to its GDP, such as telecommunications, banking, and its film industry. InNigeria reached an agreement with the Paris Club of lending nations to eliminate all of its bilateral external debt. Under the agreement, the lenders will forgive most of the debt, and Nigeria will pay off the remainder with a portion of its energy revenues.
The new value of Nigeria’s GDP adds previously uncounted industries like telecommunications, information technology, music, airlines, burgeoning online retail outlets and Nollywood film production that didn’t exist when the last GDP count was made in Then, there were , landlines. Today, Nigeria has million cell phone users. The new figures also will take account of growth in agriculture and tourism that have flourished since democracy was restored in , ending decades of military dictatorship. He pointed out that it is a Nigerian, billionaire Aliko Dangote, who is building Africa’s largest privately owned oil refinery. South Africa, bedeviled by mining strikes, violent protests over services and a lackluster performance that has kept annual growth at around 3. Ikonjo-Iweala blamed decades of military rule for the delay in repositioning Nigeria’s economy, but the country is not alone. Government statistics say unemployment increased from Financial analyst Bismarck Rewane called the revisions «a vanity. The Nigerian population is not better off tomorrow because of that announcement. It doesn’t put more money in the bank, more food in their stomach. It changes nothing. Nigerians took to social networks to share their feelings.
But I’ve not had light electricity for seven days, so it means nothing to me,» said one tweet. Another commented: «Nigeria is Africa’s biggest economy — on paper. So technically, I’m rich in theory. The navigation could not be loaded.
Agriculture, forestry, and fishing
A recent survey by Renaissance Capital of the booming Nigerian middle-class delivered some interesting results. The majority of middle-class Nigerians shop at open-air markets. Participants were drawn from the cities of Lagos, Abuja and Port Harcourt. Attitudes: The report notes that middle-class Nigerians are concerned about the welfare and upbringing of their children and the values they grow up with, hence the overall sentiment that children must complete high school in a Nigerian institution. However, more than half aspire to send their children overseas to complete their tertiary education. The average number of cars per middle-class household is 0. Banking: Although banking penetration in Nigeria is generally low, this is not the case among the middle-class.
The Nigerian economy is one of the largest in Africa. Since the late s it has been based primarily on the petroleum industry. A series of world oil price increases from produced rapid economic growth in transportation, construction, manufacturing, and government services. Because this led to a great influx of rural people into the larger urban centres, agricultural production stagnated to such an extent that cash crops such as palm oil, peanuts groundnuts , and cotton were no longer significant export commodities. In addition, from about Nigeria was forced to import such basic commodities as rice and cassava for domestic consumption. Although much of the population remained engaged in farming, too little food was produced, requiring increasingly costly imports.
Youtube is really nice if you know what you are doing. Can you link me to a company that want maize that can support me to produce and supply to it? Bookmaking and sports trading business is one of the most lucrative businesses in Nigeria. You can key into it and make money. Freelance sites like Upwork are in large abundance on the internet.
Many Nigerians are eager to learn different legitimate ways to make money online. Some, however, want to do it the shortcut way. First and foremost, I want to clarify the notion many youths in Nigeria have about making money online. Ask people that have been there long before. The supposed target-audience are becoming much more smarter than years. The unemployment rate in Nigeria is what has caused some intelligent youths to showcase their smartness in the wrong ways.
Fraudsters make up just a teeny—weeny fraction of a population of over million youths in Nigeria. But unfortunately, that tiny fraction nigeroa been hugely successful—in such a way that sends bad messages to the world about Nigeria. There are millions of hard-working youths in Nigeria, who are only seeking positive ways to make money online.
This guide is targeted at helping those hard-working youths get 20 smart ideas to help them earn nigetia living off the internet.
You get to make a living from your multiple streams of income without having to bother about the cops. Some online businesses take a long time to grow. Some, on the other hand, can begin to yield positive results the very first day you start.
I monetize this blog with Google AdSense and the affiliate products I promote. Most people who fell victim to MMM became pessimistic about venturing into any business online. List of the top 20 online money making opportunities Nigerians must embrace:. Many Nigerians want to make money niveria without investmentswhich is understandable.
Freelance sites provide you with the opportunity to make money online free. I understand that many Nigerians are talented at one thing or the other, and freelance platforms are ideal places to showcase your talent and make a living off it. Many Nigerians already make money off freelancing on some of the biggest freelance platforms out. A freelancer or freelance worker is a person who is not tied to a job, but is contracted from one client to another on short-term basis.
You can create a Fiverr account and a gig to nigefia earning online in less than 24 hours. Have it in mind that with huge popularity comes competition. You can take a look on nigeriia guides on UpworkFiverr and Freelancing in general to help you get started. Making money on YouTube is very easy. If you watched a video nieria noticed banner ads popping up on different corners, then that video puts money nlgeria the pocket of the publisher.
Apart from ads, vloggers monetize their videos by promoting their own products or products of websites they are affiliated to. First you need to visit YouTube and create a channel. Just upload some of your nice recipes for the world to see. Upload those match analysis, football videos and highlights for the world to see. There are billions of people on YouTube. Linda Ikeji monetizes primarily from banner ads from Google AdSense and selling ad spots.
Nigeris of those celebrities will storm your blog to read your criticisms and POV about those celebrities. Linda ikeji started her own gossip blog for free on Bloggerand switched later to a paid platform. However, free comes mzke limitations. WordPress hosting is very cheap on Namecheap. Maake can also follow my free blog setup guide to create your first WordPress blog. Although gossip blogging is easy, it is also tricky. You can get a lot of blog visitors for writing about local celebrities; however, writing about American celebrities will guarantee you good traffic and fans from not just Nigeria but from other countries.
When your blog has started generating a decent number of visitors, you can quickly apply to Google AdSense to mohey more money from your blog. Follow koney AdSense step-by-step application guide and tips on quickly getting AdSense approved on a new blog. People love sports all over the world. And guess what, the information is never. They had similar headlines, but I read them.
Not all the sports are very popular. Football, boxing and basketball have billions of fans all over the world—while some other sports have only a few millions of fans.
The processes involved in creating any blog is very much the. All maie need to do is buy a hosting plan and install WordPress. Reason is, omney sports review blog must wear every professional look possible.
The writing tone used in gossip blogging is quite different from that of sports review or news. Improving on your writing skills is as dl as reading a lot of quality articles and writing regularly. My writing ability was dead poor when I started blogging. It was after sometimes I started improving myself and getting better. Online paid surveys are increasingly becoming popular.
But surprisingly, not too many Nigerians know about. A paid survey is a type of statistical survey where the participants get rewarded through an incentive program or cash for completing hteir or more surveys.
There are several international paid survey sites that Nigerians would have been able to register with and make money. However, the refusal of PayPal to allow Nigerians receive money with their Nigerian PayPal account has caused a huge limitation—since most of those survey sites only payout with PayPal. So, my list had to be mobey down to only a handful of International and local online survey sites.
A ghostwriter is a person who writes books, magazine or any form of amke for people who are either too busy or not skilled enough to write for themselves. Ghostwriting provides an opportunity to earn steady income with your writeup in exchange for letting tbeir else take the credit. You have excellent writing skills. However, you lack marketing skills and you lack the funds to mooney a marketer. I talked of ghost writing earlier; however, I xo that many writers will never get themselves involved in.
Amazon Kindle is a subsidiary of Amazon—the biggest eCommerce company in the world. Amazon kindle gives you the opportunity to self-publish your eBooks and paperbacks for free with Kindle Direct Publishing, and reach millions of readers on Amazon. You can publish an eBook in less than 5 minutes, and your book will appear on Kindle stores worldwide within hours. A micro niche site is a blog that contains almost or all the information a user could ever search for in a narrow jow.
Unsurprisingly, Google happens makd love micro niche sites—because even if they contain very few articles, those articles are enough to serve all the need of the targeted audience.
Building a Micro niche sites is quite different from the nigeriw way of blogging. You need to make thorough research on your topic of choice. Buy a domain that matches the keywords of that topic. Sim card sizes actually gets a decent amount of monthly queries on Google. How do nigeria make their money visited that makf when I got into an argument noney someone about what the size of a nano noney.
Just imagine how many people must have visited Google trying to know the meaning of nano sims when it was just launched? And who knows what type of sims would get launched in the future and people will start making high queries on. That person found a need and quickly met it. And as a result earns a good amount of money with his nigeia. Micro niche sites are usually confidential to most bloggers.
Reselling freelance jobs is another easy way to make money online. You know freelancers offer their nigetia at a very cheap rate on Fiverr and other freelance platforms. If you work in a very big organization, that gets a lot of petty jobs and you happen to be the one contracting workers and paying. All you have to do is charge your organization the regular cost required to carryout that job professionally.
Visit Fiverr or PeoplePerHour and hire quality freelancers that will do that job at a very cheap rate, and you get to keep the profits. Method two requires that you be a freelancer. Many of the jobs rendered on Fiverr, upon the fact that we now they are offered on the cheap, Nigerians will do them with all joy. You can either hire a lot of helping hands of people you can see, resell the jobs you get to them for profits. You can read more about reselling freelance jobs on Fiverr in my other publication.
A forum is an online discussion platform—where people share ideas, have fun and read messages in their favorite forum groups. Apart from ad spaces, you can promote affiliate links or sign up with AdSense to monetize your Forum. Creating a forum also requires that you buy a hosting plan. I recommend you buy from BlueHost. Forums usually command large traffic when they become popular; however, prior to yours becoming popular, you can buy cheap hosting. When your site has become popular and attracting a lot of visitors, then you can purchase a VPS plan.
All you have to do is install it on your Bluehost servers. If you need help, you can visit Fiverr to hire one of their freelancers to help you do the dirty work on the cheap. I advise you ready enough funds to promote your forum on different advertisement platforms, in order to quickly give it a bump in traffic.
For instance, I could njgeria to build an app and share some written tips on how to get something. Even this post, I could create the app version of tyeir that presents every section in an interesting way.
Either for extra money through a part-time gig or as a full-time online job, it is possible to earn money online from Nigeria. Making money online is just like the offline world. Yes, there are advantages with working online but you would need skills, proper planning, and good execution. Before everything else, it is very important to have something to offer the world, in the form of marketable skills. You can either learn new skills or tgeir on the marketable talents you already.
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There are dozens of credible websites where you can learn online. Some are free, others are premium. Aside from the goofy clips, there are millions of extremely useful tutorial videos on YouTube, created by companies and individuals, that are eager to share skills with you. All the video tutorials are completely free-of-charge. You only need a good internet connection and a skill for searching, nigegia find the best tutorials. Eventually, you would notice the best Youtube channels that cover the subject matter you are interested in.
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