If you are looking to accelerate your earnings in this modern digital era, it is better to consider passive income ideas in Nigeria and translate them into cash streams, you may struggle through many of the passive income streams at the beginning, the time, and the hard work pays off than active income jobs.
Passive income is now highly sought after by both the young and adults around the world, this is to bring consistent revenue without putting in much effort when everything is built up.
There is nothing better than making money even while you sleep, this is what passive income ideas can do for you, any investment to make a passive income upfront is often low.
Adding passive income streams to your portfolio can help you increase your earnings greatly and accelerate your financial goals in tremendous ways.
Best Passive Income Ideas In Nigeria
As we dive into explaining some of the passive income ideas, you should be aware that some will require little upfront capital with little effort to make it work while some will not require capital other than your effort.
1. Real estate investing ( Rental Properties)
Rental properties are the best way to make a passive income, once you outsource the running of the properties to a management company it has automatically turn to passive income-generating work.
Rental property brings to the owner a is a monthly income like no other, the internet helped us simplified everything; anyone can now invest in rental properties easily.
Your goals and interests will determine what you are going to do, either to partner in large residential or commercial properties or buy homes and be a landlord all online.
Invest In Single Family Homes
You can do the traditional way of investing in real estate with Coreum. This platform allows you to buy single-family rentals – online! And make your money work for you.
Invest In Larger Developments
If you are looking to participate in large real estate development. Like to invest in multi-family or commercial properties, without doing any work.
This site Digitallandlord will help you make the income as you deepen your journey in large real estate development investments.
You can start investing with N2.59m, this platform is open to both accredited and non-accredited investors.
2. Invest In Agriculture
Agriculture investments remain valid in any national economy and it is a good way to generate passive, numerous platforms have made it possible for investors to get on easily with agriculture investments.
Investing in the agric apps leave you with nothing to worry about, just invest your money and they do all the work for you, this is a great passive income-generating idea that can work for people who love to make money with agriculture.
3. Dividend Stocks
Dividend stocks are the true way to earn passive income. Once you do your research and find good stocks to invest in with a significant amount of money, you can receive large dividend checks.
Your consistent will bring more residual income to you over time, the dividend stocks investment will work best when you have a good brokerage firm.
You can open divided stocks account online and start investing with Chaka, This investing platform allows you to build a portfolio and spread investments within your entire portfolio, and with this site, you can re-invest your dividends.
4. Invest In The Stock Market
Dividend stocks may not be your thing, we understand better, here is another miss to start investing in the stock market to make a passive income.
Bamboo gives you the chance to invest in the stock market right from Nigeria, and build passive income.
5. Invest In A REIT (Real Estate Investment Trust)
If you have not become an accredited investor and you want to invest in real estate, you can still make passive income by taking advantage of Real Estate Investment Trusts, (REITs).
The best platform you can start to invest with when it comes to REIT investment is Risevest. With a minimum of $10, you can get started and build money from there.
6. Peer to Peer Lending
P2P lending helps you lend money to borrowers as an investor lender, as the lender you can decide who you want to give your money, and also spread your investments among borrowers, this enables you to mitigate your risk.
A site like Kiakia is one of the best lending platforms out there you can trust, when you invest you get paid back your capital and interest on the loan.
Invest at PeerStreet to have your passive income rolling.
7. Sell an eBook Online
Ebook is a good passive income idea that works best all over the world, this is Self Publishing job that is pretty good to look at when trying to start generating passive income.
To start a book you’ll first need to write and edit it, create a cover, and then sell through Amazon’s Kindle Direct Publishing or directly on your own.
Instant success is no guarantee as there will be upfront marketing to turn this into a passive income stream.
8. Create a Course on Udemy
Udemy allows, users, to take video courses on numerous subjects, this online platform allows the creator to make money by selling created video courses on the site.
Instead of being a consumer on Udemy you can become a producer, create a video course, and sell to the users to purchase it. If you are knowledgeable about a specific subject matter, you can teach others, this is the best way to make passive income.
9. Selling Stock Photos
Stock photos will make you money if you like taking photographs, most websites, and blogs get their photos from the stock photos websites.
If you submit your photos to stock photo sites when purchased you will be receiving a commission on every purchase.
A site like Shutterstock will help you make passive income as you sell more photography of yours you make more funds.
10. Affiliate Marketing
Affiliate marketing has been around for a very long time, this affiliate marketing is the process of partnering with the company by becoming an affiliate, as you see you you receive a commission on a product.
If you have blogs or websites this will work best for you but it can be done without a website too and make passive income.
If you want to get started with affiliate marketing you can learn more on Udemy.
11. List Your House On Muster
You can make passive income with your house, apartment, spare room, or even your backyard, if you want to do this, list it on Muster and start earning money every time you have someone to check-inn.
Muster will take care of any damage to your house, don’t get worried about listing on the platform, you are %100 covered.
12. Rent Out Your Car
You have a car, you can rent it out to make passive income, just as you can rent part of your house, and you can do the same with your car.