In the very competitive space where entrepreneurs and local businesses try to migrate into the global market by making money online daily in Nigeria, it is very important to discover ways on how to earn in dollars in Nigeria.
Making money in dollars in Nigeria has been a deal-breaker for small businesses and entrepreneurs. This is because of the benefits attached to foreign currencies compared to local currencies (dollar-to-naira exchange rate).
- How can I earn dollars online?
- How do I earn in dollars from Nigeria?
- How do I get paid in dollars in Nigeria?
- How can I receive money in dollars in Nigeria?
These different variations of questions have been the case study of local businesses and entrepreneurs trying to make money in dollars in Nigeria. You might be wondering why entrepreneurs and business owners in Nigeria want to make money in dollars.
Some of the reasons may range from importation factors, the business opportunities presented, the market exchange rate, the drive to work with foreign employees, the fact that dollars are more recognised globally, and many more reasons.
Hence, in this guide, I’ll help you discover the basic strategies available to earn money in dollars from Nigeria.
HOW TO EARN IN DOLLARS FROM NIGERIA
Making money in dollars in Nigeria shouldn’t be hectic; there are handful and lots of ways Nigerians can earn in dollars. Be aware that in order to earn in dollars, all your work has to be internet-based (online) with only the use of your mobile phone or laptop.
Here are few ways to earn in dollars from Nigeria:
- E-commerce
- Social Media (TikTok & Twitter)
- CPA Marketing
- Freelancing
- Blogging
- Vlogging or YouTube
- Online Surveys
- Forex trading
1. E-commerce
E-commerce is one of the best ways to earn money in Nigeria. E-commerce has really taken Nigeria by storm. Thousands of entrepreneurs find e-commerce to be the way forward in this modern era of online businesses.
Ecommerce can be done through dropshipping and other methods. E-commerce requires you to build an online store to sell products or services with the aim of reaching or targeting foreign-based customers.
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Hence, the aim of targeting foreign-based customers with your products or services is to definitely earn in dollars. Building an online e-commerce store shouldn’t be a hassle, as there are platforms that assist with this. You can build an e-commerce store using any of the following:
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2. Social Media (TikTok & Twitter)
Social media is another way to earn in dollars from Nigeria. However, you must be wondering if this method is really possible. The answer is yes! And I’ll tell you how.
Social media platforms like TikTok and X (formerly Twitter) have given Nigerians the opportunity to monetize their hard work and make money in dollars. There are several ways to make money on TikTok in Nigeria as well as on Twitter.
Hence, if you're already familiar with content creation, this is a bonus method to kick you off to start earning in dollars in Nigeria.
Twitter monetization pays you for getting impressions and activities on your tweets. X monetization requires you to meet the following requirements:
- Must be 18 years of age
- Must have paid for Twitter premium (blue check)
- Must have minimum of 500 followers
- Over 5 million tweet impressions in the last 3 months.
3. CPA Marketing
CPA marketing is also one of the ways to earn money in Nigeria. CPA marketing, otherwise known as cost-per-action marketing, is a type of affiliate marketing that involves partnerships between an affiliate and an advertiser. This is a very ideal way to earn in dollars in Nigeria.
This means you have to partner with an advertising company or affiliate company in order to promote their brand or products and get commission when users perform an action through you (cost per action). You still don’t get it? I'll explain further and better.
If you’re very familiar with social media, you must have come across influencers and content creators persuading you to either sign up on a platform or buy a product through their link or promo code in their bio. This is simply CPA marketing, and they get paid a certain commission whenever you take an action through them. Simple as it sounds.
4. Freelancing
Freelancing is another way to earn in dollars from Nigeria. Freelancing is arguably the best method that the majority of people will cling to for certain reasons. One of these reasons is that freelancing offers diverse areas and is not limited to a single field.
Freelancing is a pay-per-task type of service. You earn money and get paid in dollars for tasks that you render to foreign customers that need your services. You can offer services that range from web design, graphics design, content writing, copywriting, SEO services, and many more.
There are also platforms for Nigerians to apply and start getting jobs as freelancers. You should check out Fiverr, Upwork, and Freelancer.
5. Blogging
Blogging is one of the ways to earn in dollars in Nigeria, but the popular question remains: is blogging profitable in Nigeria? Yes definitely!
Blogging has been one of the most profitable ways for Nigerians to earn money in dollars. If you’re passionate about putting your ideas out there, like myself, you can dive into blogging.
You’ll be required to select a niche, get a custom domain name (.com,.ng,.net), get a hosting plan for your website, design your website, and start blogging your ideas to the world.
You can start earning in dollars through blogging in the following ways:
- Google Adsense
- Adsterra
- Exoic
- Monetag
- Sell ads space on your blog
- Build links for other blogs.
6. Vlogging or YouTube
Vlogging is an underrated way to get paid in dollars in Nigeria. Are you passionate about creating lifestyle content, travel content, cooking content, and other forms? You can push your vlogging passion to another level and get paid in dollars in Nigeria. I’ll tell you how.
With the help of platforms like YouTube, vlogging your life experiences and ideas is a massive way to get paid in dollars. You can monetize your content on YouTube with the use of Google Adsense.
Be aware that you need to meet the monetization requirements of YouTube to start earning. Hence, go ahead and apply to get approved by Google Adsense to monetize your YouTube channels. Over the long run, you earn steadily in dollars.
7. Online Surveys
Online surveys are another way to earn money in dollars in Nigeria. Performing online surveys is a form of answering questions and polls in order to gather empirical data about something. You must have come across platforms offering you the chance to take part in their surveys in order to gather data about a particular idea or interest.
There are platforms that give Nigerians business opportunities to earn money in dollars by doing simple tasks like answering surveys, watching videos, clicking on ads, and sharing videos.
The only legit platform I can recommend so far for this is Timebucks. Timebucks gives a minimum payout of $5, which sounds fascinating and really satisfying.
8. Stock or Forex Trading
Cryptocurrency trading like Bitcoin, USDT, and others has given Nigerians the means to earn money in dollars. This could involve buying, selling, and flipping cryptocurrencies for a larger profit in the long run.
You should access the right mentorship for stock trading and trade carefully to keep accumulating your income or profits in dollars.
HOW TO RECEIVE DOLLARS IN NIGERIA?
If you’re wondering or asking how you can receive money in dollars in Nigeria, I’ll put you through. The present situation has opened a lot of doors for Nigerians to receive payments in dollars.
Here are the following ways you can receive money in dollars in Nigeria:
- Skrill
- Webmoney
- Bank Wire Transfer
- Cleva banking (free US-based account)
- Cryptocurrency
- World Remit etc.
1. Skrill
Skrill is a digital wallet available for Nigerians to receive money in foreign currency. In order to receive money or payment with Skrill, you have to sign up for a Skrill account. Upon getting a Skrill account ready, you can receive payments in dollars into your Skrill wallet using your Skrill email address or phone number.
However, you can also withdraw directly from your Skrill digital wallet to your local bank for a convenient fee and conversion rate. Simple as it sounds.
2. WebMoney
Webmoney is another reliable and secure platform to receive and withdraw payments in dollars from Nigeria. Webmoney is an international payment platform or gateway launched in 1998 that aids international payments, and Nigeria is never an exception to the list of supported countries.
In order to receive payment in dollars from Nigeria with webmoney, you need to sign up for a webmoney account, and you can also withdraw money to your local bank through a bank wire transfer, a bank card, postal orders, or webmoney exchange offices.
3. Bank Wire Transfer
A bank wire transfer is another way to receive money in dollars in Nigeria. How does this work? A bank wire transfer involves a direct, swift transfer into your Nigerian bank account.
Well, you might be wondering if it is possible to receive dollars in Nigerian bank accounts, and the answer is yes. These accounts are called domiciliary accounts. Different Nigerian banks support international payments by allowing you to open a domiciliary account to receive foreign currencies into your Nigerian bank accounts.
The Nigerian banks that support domiciliary accounts are GTB, Zenith, First Bank, UBA, Fidelity, Access Bank, Polaris, Stanbic IBTC, Union Bank, FCMB, and Sterling.
4. Cleva Banking
Cleva Banking is also another payment system that allows freelancers in Nigeria to create a dollar account instantly and make payouts to local banks in Nigeria. The icing on the cake is that Cleva Banking requires just your BVN and ID card to get you started on signing up for a USD account.
5. Cryptocurrency
There is really no doubt that we are all aware of cryptocurrencies like Bitcoin, Ethereum, USDT, and others. Cryptocurrency is a digital form of money, and this is also another way to receive dollars in Nigeria. You can choose to get paid in cryptocurrencies to trade later for Naira.
CONCLUSION
Earning in dollars in Nigeria has been made possible over the years. With the spike of jobs online that satisfy this claim, it is necessary to look out for the most suitable one and start getting paid in dollars.
I hope this article is able to solve your questions regarding how to earn money in Nigeria. For any related common questions to the FAQ, leave a comment.