In this article, I’ll be revealing Top 10 Best Passive Income Ideas in Nigeria to Make Money Easily. You’ll also get to see how to create multiple passive income streams in Nigeria, multiple streams of income ideas in Nigeria, investment opportunities for low-income earners in Nigeria and how to create an alternative source of income in Nigeria.
If the idea of making money easily sounds good, then read on. The idea of making money easily or while you’re asleep is a fascinating one and creating a passive income investment is the best thing that you’ll ever think of doing.
A wise man once said “If you don’t find a way to make money while you sleep, you will work until you die- Warren Buffett.
It’s as simple as that. There is no magic or blood money needed when it comes to creating passive income. Before I start revealing a certain thing,
What is Passive Income?
Passive income is a business where you make money from doing little or no work at all. It means your money keeps coming without actively working for it. You simply get paid over and over and over again for work that you did once.
I’ve spent hours thinking about the top best 10 passive income ideas to make money easily in Nigeria and what I discovered is that you only need two things, time and money, then your passive income investment will make money for you easily even when you sleep.
Passive income doesn’t mean that you just have to start a business and go to sleep. Creating a Passive income takes time, effort and resources to make. The beauty of passive income is that when the money starts coming in, you will not need to spend any more time, money, effort and resource, because you’re all set to make money while you are asleep. You have built your business to a state where you can comfortably take your eyes off of it.
I believe that there are two types of passive income, passive incomes made online and passive incomes made offline. In this article, I will be revealing 10 passive income ideas to make money offline (without the internet). You can click here to see how to make passive income online. Here are the
Top 10 Best Passive Income Ideas in Nigeria
1. Housing & Real Estate
Believe me, nothing says a good passive income investment in Nigeria with high income like housing & real estate. This is by far the best passive income idea to make money while you sleep. This passive income investment can work for virtually anyone, anywhere. Itas no surprise that land prices in Nigeria seem to be at a constant rise.
After you’ve built the house, you can go to sleep and let the housing agents do all the work. You can also buy a piece of land, leave it for a few years for its value appreciates and then sell with interest.
When you rent out or sell lands, houses, buildings, sports centers, markets, hotels, parks, event centers, apartments, shops or office spaces that you own, you have the chance to generate a healthy monthly or annual revenue. I believe I’ve said enough.
2. Start a company
This is another amazing passive income investment to make money easily in Nigeria. A company is an entity that manufactures or sells products or provides services as a commercial venture. Starting a company is not as hard as it seems, it just requires a certain amount of money to set up then you’re good to go.
The more you love something, the less work it becomes when you do it. You just have to figure out what you do best, so you know what type of company(ies) to set up.
Do you have a good taste for clothes? Then start up a boutique or a fashion company. Do you know how to gamble? Then start a bookie company that gives insights, tips, and risk-free predictions or your own casino. Do you have a familiarity with a subject, discerning judgment, and good social skills? Then set up your own consultancy firm on tech, marriage, blogging, law, agriculture, etc or even produce.
There are tons of questions like this that you can ask yourself and come up with an ideal company, factory, firm, industry, and office. You can also buy a successful business and profit from it with little or no effort. It’s that easy to start a company and start earning from your passive income investment in Nigeria.
3. Shareholding & Partnership
If starting a company seems like a big deal, they partner up or buy a share. This is also another awesome passive income idea to make money while you sleep.
By building a portfolio of high dividend stocks, you can create passive income to make money while you sleep at an annual rate. That is much higher than what you get on bank investments.
As a business partner, you simply supply a business with the needed capital with the request of taking an equity position in the business while the business owner does all the work. You just ait back and wait for the payday. You just need to find a successful business that needs capital for expansion.
Dividend income gets paid to shareholders of stocks in the form of cash in your bank account and as a partner, you also get commissions or capital gains. A lot of folks who are now financially independent have achieved that by buying stocks from profitable businesses.
If you want to make a passive income for yourself through shareholding and partnership, make sure that you educate yourself, analyze the business and pick solid stocks.
This is one of the easiest passive income ideas in Nigeria on my list. You basically get paid to stand around or do certain things. Modeling should be regarded as a passive income idea because according to my definition, “where you make money from doing little or no work at all” and “get paid over and over and over again for work that you did once”.In modeling, there is little or no work involved.
Your pretty face or elegant body structure would do all the work for you. Plus, models are somewhat getting closer and closer to entertainment. All lot of models are now featured in music videos, movies, games, sites and so on.
5. Write a book
Writing a book is one of the best passive income idea to make money while you sleep. You make money just from expression yourself or sharing an idea. A lot of books have ‘5th edition’, ‘revised edition’, ‘updated copy’ but still, sell in millions and win awards.
Novels, biographies, autobiographies, novellas, fables, plays, etc selling books is a great way to produce some serious residual income and make money while you sleep. This is one of my favorite passive income ideas. You no longer have to wait for publishers to print and distribute your book are long gone, you can now self publish.
Plus globalization would also act to your benefit. Once your book is available on sites like Amazon, Kindle, Lulu, etc, you can immediately watch the money roll in and get a check for writing a book that you wrote 3 months ago.
The key to success in this field lies in writing something that solves people’s problems in the best way possible i.e. A book on ‘How to rediscover yourself’ or by entertaining your audience and having a solid marketing plan. If your books get to the right hand (Your President) and he makes a quote from the book with a reference or positive comments about the book, then you’re on a whole new level.
The Nigerian entertainment niche is another high paying passive income opportunity in Nigeria that you should venture into. This sector comprises of social media marketing, TV advertising, and subscriptions, television, the music industry, Nollywood and Tv stations.
Nigeria’s entertainment and media market grew by 19.3% in 2014 to reach $6 billion in 2019 and this industry is filled with limitless potential.
You can easily venture into this market and create an easy passive income stream of wealth waiting for you.
7. Set up a Factory
This is another passive income idea that will turn your life around for good Owning a factory that specializes in making in several products that contributes to societal development have proved to be profitable all around Nigeria.
You can easily set up a factory that makes a sachet and bottled water, provision, cosmetics, skincare products and so on can easily make you rich and create wealth for you. With the advent of social media and digital marketing, you do not need to go from door to door to market it, you can easily set up a site or sell on e-commerce site, or a social media page and start making money.
8. International Trade
It is no news that there is a lot of money in international trade. Importing, Exporting and Entrepot are some of the easiest passive income investments you can start in Nigeria. You just need a reliable foreign distributor/be a foreign distributor that would supply you with shoes, phones, wigs, bags, electronics, smart gadgets, etc to sell in or out of Nigeria.
International trade makes generating revenue a breeze and in one of the best passive income streams in Nigeria, easy to start up but demand a very high cost to run. International trade allows you to buy and sell in foreign markets. This trade diversifies the products and services that domestic customers can receive (from you).
A passive income investment in the Nigeria Agric sector is also a good start to make money easily in Nigeria. There are also food, products, and items you can decide to venture into and start making money easily. This passive income stream has been known to generate revenue for 3 generations and it is one I strongly advise every Nigerian to venture into.
Every Political System Is Big Business, You only need a handful of achievements, political influence and wealth to get into the political affair of a state and begin rolling. The make and formulate policies, you only execute the using your pen and paper. it doesn’t get easier than that.
If you play your cards right, using your time to grow your career and later head into politics, gaining political power becomes very easy. a lot of prominent political actors using this technique, some notable figures are Omoyele Sowore, Ifeanyi Ubah, Ben Carson, Donald Trump, Desmond Elliot, Banky W, Ben Murray Bruce and so on. Once you have a good career and you are aired as a good leader, gaining political power is a breeze.
These are the 10 best passive income ideas in Nigeria to make money doing nothing and it has been narrowed down to help you decide the best income stream for you. Do us a favor and spread the word using any of the share buttons below.
These 10 passive income business ideas are very effective and profitable. Like I said earlier, you would need to invest your time and money to make the business solid. Once that is done, you’ll begin to make money doing nothing. So you can start working less and start making more money.