Friday, October 11, 2019

How to Make Money as a Student in Nigeria – A beginner’s guide


Image Courtesy: www.millitime.com
What can I do to make money in Nigeria as a student? If you are a student in Nigeria and this is bothering you, I can relate to it since I also schooled here in Nigeria and had similar questions myself. I was able to overcome this problem during my time (I lived very fine as a student) by working part time as a chess teacher, running 2 phone call centers and selling recharge cards (way back in 2008). I will also share an example of my room mate in school who was making a lot of money as a student schooling in Nigeria.

This topic will always be an issue for many students schooling in Nigeria and it is easy to understand why. Most Nigerian students are from humble backgrounds and may have parents who are salary earners (not usually well paid) and as a result may be receiving paltry allowances from their parents or guardians. Others may be sponsoring themselves through school and won’t want to quit school because of lack of money so naturally, they would ask “how can I make money in Nigeria as a student?

An Example of a Student Who Made a lot of Money on Campus in Nigeria
This example is about my roommate during my HND days (I schooled at Yabatech) who was a millionaire (he was sponsoring himself through school and had already made it even before gaining admission to school) and also the governor of my class at the time. He had different ways of making money as a student.

First as class governor he was responsible for sourcing academic materials from lecturers and photocopying same for the entire class. But he had a clever way of making money with this. He would ask everybody to pay the normal amount for photocopying per page (which was N2.50 in 2008) but then he would negotiate with the photocopying guys to get a discount of N1 per page. For a class of 141 times let’s say 30 pages material per course per week times at least 5 out of 8 courses - because we regularly had assignments - that is at least 21,000 naira per week.

This same guy also made money on the side from printing from our shared room in the hostel at N20 per page for color and N10 per page for black and white which was the lowest amount anywhere at the time. He wasn’t paying rent, salary or electricity so he could afford to charge so low and even business center operators would come to our room to print dozens of pages at a time. His daily consumption rate at the time was 1 rim of A4 paper that is at least 10,000 naira in sales minus cost of paper rims and ink his profit would be nothing less than 6,000 naira per day at least 22 days in a month.

This article is not about him but he proved to me during my schooling days that making good money was possible as a student in Nigeria, you only need to know what to do and do it very well. But don’t get me wrong, I am not saying you will make a lot of money like he was doing but at least something that can support you through school.

4 Tips to know on How you Can Make Money in Nigeria as a Student
  • Don’t mix hustle time with school time. That means you are a student first and foremost and whatever you do to make money must not interfere with your studies, you will devote your free time at school (3 to 4 hours daily) for money making activities while keeping your study time, rest time and lecture time intact.
  • Secondly, don’t expect to make millions of naira. Any amount that can cover all your current expenses is enough, so don’t waste your time chasing big money or you will lose out from both ends.
  • You need to think deep to find opportunities. That means asking many profound questions about what you can do to make money and how you can do it very well. 
  • Think like a consumer/buyer but become a seller/producer. That is the mindset you need to start making money as a student and here is how to start.

The 6 Major Money Making Opportunities for Students in Nigeria

#1 Look for skill-based Part Time Service
There are opportunities to make money from sewing clothes i.e tailoring, photography, to making money as a freelancer with website design, graphics design etc

#2 Look for Part Time job
You can make money with a part time job (I recommend not more than 4 hours a day) such as teaching at a tutorial center or doing private home lessons, working afternoon shifts or in the evenings from 3pm till 10pm on off campus jobs (restaurants, bars)

#3 Look for a Part Time Business
Like running an evening sandwich making or Sharwarma Business on campus (6pm till 10pm), setting up a photocopying stand in school, selling stationery to fellow students, barbing fellow student hair etc (be wise while doing this, no credit no matter who it is) and many more.

#4 Serve the student population
Start selling things within the hostel that students buy or need regularly e.g pure water, internet data, recharge cards, detergents, beverages etc buy them in bulk and resell in smaller units.

#5 Working Online with side gigs
You can start a money making niche blog, writing articles and web contents for companies, work on fiverr and upwork, do data entry jobs etc

#6 Start an Affiliate Marketing Business
There are products and services you can sell online. You don’t need to own the products, just refer others to the seller and earn a commission. If you are web savvy, you can start selling online using your social media presence and or setup an SEO friendly blog to market and sell your products and services online. It will not be easy but as your online presence grows you will start making money. You can learn how to start making money with affiliate marketing with a short guide send me an email with title “affiliate marketing guide” to: nigeriahomebusiness@gmail.com

If you are serious and really want to learn how to start making money online from home in Nigeria email me: nigeriahomebusiness@gmail.com and I will send you a guide that will teach you how to find the right businesses to start from home and making money part time.

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