Have you been searching around for information on how to start / run an online buisness successfully in Nigeria, Strictlyonlinebiz.com's Free Guide to Making Money Online in Nigeria, authored by Udegbuban Chukwudi, is your first handbook. With very rich information, especially for the "Nigerian enterepreneur", seeking to make money online, the four-chaptered 49-page pdf document is based on the personal experience (blogging / research findings) of the author.

The following is a summary of each chapter, after which I leave a comment:

Chapter-1: kicks off with "what some people think", especially considering their "not too positive" reputation as Nigerians and their desire to use the internet to make some cash for themselves. The first example given is the success story of Ladan Lashkari, a young lady born and raised in Tehran, but presently living in Malaysia. The author states that regardless of all the negatives(no PayPal, no ClickBank etc.,) against the average Nigerian, it is still possible to make money on/offline if value is created: "something someone considers important and useful, which is usually a product or service". And with so much "value" that a Nigerian can create online if he/she can just sit and think, the sky would only be the beginning of opportunities.

Comment: I've come across many people(Nigerians) who have a wrong idea of making money online. They often think the internet is some free world, where one could just sit down, with folded arms / crossed feet, doing nothing and making money. In fact, I once heard someone say: as long as you know how to press A, B and C on your keyboard, you can make money online. But while this could be partly true, its oftentimes hardly true. Making money online is hard work, it involves a lot of information gathering, dedication and an innovative mind. More, I prefer to tell people to choose to make "honest money" online, with root word as honest.

The concept of creating value is another area Nigerians don't look into. Perhaps, they feel that doing exactly what someone else has done(which has worked for him/her) will fetch them(new comers in the buisness) as much cash. Unfortunately, and many times, it doesn't. Such people soon end up discouraged and then give up on their desires.

Chapter-2: discusses 10-ways of making money online. These include Google Adsense, Paid Online surveys, Sale/Resale of Ebooks, Reselling of webhosting and domain name registration, etc.

Comment: of the 10-ways discussed, I am presently involved in flipping / reselling of web-hosting and domain name registrations. I am also in the process of signingup for some affilate programs. As I said earlier, making money online requires a lot of information, else one might be wasting his/her energy at a certain method / direction that yeilds very little over time.

Chapter-3: discusses how to sell and buy online. Options include: 2CheckOut, ClickBank, PayPal, etc. An example tutorial given is titled: how to apply for a Lime Exchange Payoneer prepaid mastercard.

Comment: doing buisness in Nigeria is not easy. It looks more like a merry go round of requirements and third party processes, making online buisness extra labourious. A first timer could easily be confused with so many requirements: why A is needed to apply for B, and B is needed to get C, and C is the requirement for something else etc,.

I made enquiries regarding the requirements for integrating the Interswitch payment service with a website sometime ago. It was almost discouraging. With so many bottle-necks, delivery time becomes a major issue, besides financial losses due to possible "service charges", (many times re-occurent) here and there. For me, the Zenith Web surfer card is the most promising, for a personal/small case buisness endeavour.

I tried buying a book from Amazon earlier this year. The only bottle-neck was that they won't ship to Nigeria. And I sometimes wonder why the Nigerian banking system can't launch products to enable Nigerians make / receive online payments easily, since - they(banks) can interface with the Western world easily through their foreign financial partners. Who needs PayPal anyway? - what if I can pay Naira into my bank account in Nigeria, convert it to US$s and transfer it online to pay for any service anywhere in any currency? Its the Nigerian bank that benefits from the exchange rate conversions. And why can't payment be received in the same way? I can just imagine how much revenue is generated yearly from Nigerians through payment gateway services, like the ones referenced in the e-book and more.

Chapter-4: titled Extras, the author makes recommendations on blogging requirements, especially from a limited budget (affordable web-hosting companies / domain name registration services) in Nigeria.

Comment: the bottom line for doing buisness in Nigeria is an affordable internet connection and proper information. This could be either commercial(cybercafe) or private. I would advise a private internet connection, considering security issues in cybercafes. Oné's email password could easily be hacked / compromised. From a fast interenet connection, an entrepreneur could do more in less time.

Conclusion: the e-book is a very good resource for the Nigerian entrepreneur. Perhaps, if we(Nigerian entrepreneurs) could each write similar e-books based on our own experiences, we could draw a bigger picture of all the pros and cons of doing buisness / making money online in Nigeria; identify the ups and downs, share and exchange information, all the while learning from each other. This would also serve as "education" for the next online entrepreneur-wannabe.

Note: the document is named: "Free-make-money-online-report.pdf"; titled: "Free Guide to Making Money Online in Nigeria, by Udegbunam Chukwudi E", and can be downloaded through the "Learn how to make money online in Nigeria FREE", box under the space for sponsors. http://www.strictlyonlinebiz.com/blog/



Happy reading!

  • are you running an online buisnes in Nigeria? what are some difficulties / challenges you have encountered especially with regards to making / receiving payments.
  • besides the methods mentioned in the e-book, what other payment gateways have you used and how would you recommend such.


Your comments and opinions are welcome!

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