Just about three days ago, in the blink of an eye, the dollar exchange rate skyrocketed to 1450 naira per $1.
While this might be sad news to most Nigerians, there are a few others who are not even perturbed, and as a matter of fact, it became a piece of very good news to them because their financial status has just gotten better. This is for just one simple reason, they earn in US Dollars.
This article deals extensively and gives practical insight on how to earn in dollars
What's in this guide?
What does that mean?
If you are currently living in Nigeria, then you can understand how bad or even worse the economy has been, especially since the new government took over last year.
The price of everything has skyrocketed, and the Nigerian currency has depreciated so much in value, despite this, many people’s salaries have remained the same and haven’t experienced any significant increase
Given the circumstances we have found ourselves in, it will be truthful to conclude that if you are a regular 9-5 job worker and your salary is still in naira, especially in its five digits, it’s time for you to have an urgent rethink, less you become a victim of this current predicament.
Unlike several years ago, earning in US dollars while living in Nigeria used to be exclusive to a certain class of people, these individuals became super wealthy because they were exposed to the right information at that time. But today, with the internet, ordinary individuals can now earn thousands of US Dollars right from the comfort of their homes legitimately every month.
Having said that, regardless of your financial desires for 2024, whether to improve your standard of living or simply to increase your financial security amid the economic situation in the country, there are many ways to make good money, in dollars and just be at peace with yourself.
5 proven ways to earn in dollars in Nigeria
Below are 5 ways to earn in dollars. And the beauty of these jobs is that most of them are remote which means you are required to Walk from the comfort of your home.
1. Freelancing
The fact remains that the rise of the Internet has done so much more good than harm. One of the blessings is that it has created so many opportunities for remote freelancers.
Freelancing is a contract-based profession where an individual uses his skills and experience to provide services to several clients across the globe, and gets paid either per job, per hour, or per month.
Right now, many small businesses across the globe are looking for experts and professionals in a variety of fields, such as graphic design, video editing, copywriting, programming, tech, writing, digital marketing, and so on. And sometimes, some of these companies prefer to deal with Africans. One of the reasons is because of the notion that Africans are very cheap to deal with. So they want to cut down costs and save money. They’ll rather pay you $3000 for a good job, rather than paying another white guy $5000 or $7000
If you want to begin your freelance journey today, several online platforms enable freelancers to connect with clients around the globe. They include Upwork, LinkedIn, Freelancer, and Fiverr.
Read: Top 10 most in-demand Freelance Skills in 2022
2. E-commerce
If you are already into buying and selling, delving into e-commerce might just be the only thing you will need to start earning in dollars in Nigeria. With E-commerce, you can make your products accessible to customers on a global scale.
Regardless of what you sell, either handmade items, digital products, accessories, etc. All you need to do is to create an online presence and store where your products can be displayed and people across the globe can seamlessly pay and have it delivered to them.
Through this, you’re able to break every barrier in your business, interact with anybody across the globe, and skyrocket your income.
Recommended: Ultimate Guide to Shopify Dropshipping
3. Content Creation
You can establish yourself as a content creator on YouTube and other social media platforms, by putting out content that appeals to people with the same interests. There are several niches available and you can focus on one, be it food, money, entertainment, etc
As a content creator, there are several ways you can earn dollars in Nigeria through YouTube channels. You can partner with brands to advertise their services and produce content such as videos, pictures, and blog posts for brands.
You can also organize different classes to teach your followers and viewers about any interesting topic related to your niche. Lastly, due to the number of followers you get and your activities, you are also licensed to get paid by different platforms such as Facebook, YouTube, Twitter, etc
4. Affiliate Programs
If you are looking for the fastest and easiest way to make money online and earn in dollars, even from day one, Affiliate marketing is that business model.
This involves partnering with other companies by advertising their products and services and you earn a commission each time a sale is made through your affiliate link.
Many companies offer affiliate programs. You can increase your chances of success in this field by finding the right products and services that go well with the right audience.
The success of this model depends on your creativity in marketing the products to a wider audience and close them ultimately
Check out: How to make money through affiliate marketing
5. Investing in the stock market
If you are interested in investing, this is another good way to earn some dollars on the side. It offers you the opportunity to grow your assets and make more money.
However, you must gain financial education and do enough research about the financial market before you delve in
Platforms like Rise, Bamboo, and Piggyvest have made it a little easier to trade stocks in Nigeria. There are some platforms where you can now access a wide range of foreign stock options and choose where to put your money. They include Bamboo, Piggyvest, and Rise.
Recommended: 10 websites that pay you to answer questions
Conclusion
We are now in the digital age and it has become so easy for anyone living anywhere in the world to connect and do business across the globe, through the internet.
And rather than see the economic situation in Nigeria as a cause for concern, you must rethink, and make the most of every opportunity to outsmart the economy. This is where finding a way to earn dollars or making money online has become a noble adventure that can earn you a fortune when done currently.
Take the opportunity today, take the initiative today, and take your finances to that level you have always envisaged. There is room for you to begin now.
