Where can I invest my money and get monthly income in Nigeria? (2024)

Where can I invest my money and get monthly income in Nigeria?

Agriculture, real estate, mutual funds, and high-paying dividend stocks are just a few of the many options for generating monthly income from investments in Nigeria.

What investment will give me monthly income?

However, there are a number of assets that pay income on a monthly basis. Options include savings accounts, certificates of deposit, annuities, bonds, dividend stocks, rental real estate and more.

How to invest $500,000 in Nigeria?

The best businesses to start with 500k in Nigeria include:
  1. E-commerce.
  2. Event planning.
  3. Logistics and delivery services.
  4. Food business.
  5. Bookstore.
  6. Car wash.
  7. Small-scale grocery store.
  8. Thrift store.
Jul 7, 2023

How to generate passive income in Nigeria?

55+ Lucrative Passive Income Business Ideas in Nigeria & Africa
  1. Rental Properties. ...
  2. Dividend-Paying Stocks. ...
  3. Peer-to-Peer Lending. ...
  4. Real Estate Crowdfunding. ...
  5. Blogging with Affiliate Marketing. ...
  6. Automated Dropshipping Business. ...
  7. Stock Market Investments. ...
  8. Create and Sell Online Courses.
Dec 11, 2023

How much money do I need to invest to make $1000 a month?

For example, if the average yield is 3%, that's what we'll use for our calculations. Keep in mind, yields vary based on the investment. Calculate the Investment Needed: To earn $1,000 per month, or $12,000 per year, at a 3% yield, you'd need to invest a total of about $400,000. Calculation: $12,000 / 0.03 = $400,000.

How much money do I need to invest to make $400 a month?

That's right; you save over $30,000 if you want to create $400 per month in passive income. Furthermore, this could be cash set aside in your TFSA, meaning it would be all tax free, with plenty left over for other investments.

What business makes the most money in Nigeria?

Nigeria: 10 most lucrative industries in 2023
  • Agriculture. ...
  • Technology. ...
  • Online retailing and e-commerce. ...
  • Entertainment and media. ...
  • Professional and consulting services. ...
  • Pharmaceuticals and healthcare. ...
  • Food industry. ...
  • Fashion industry.
Oct 11, 2023

What business can start with 1 million naira in Nigeria?

Agriculture: Agriculture is a lucrative business in Nigeria, and with 1 million naira, you can start a small-scale farm or livestock business. This can include poultry farming, fish farming, or vegetable farming.

What business can I start with 150k in Nigeria?

₦150,000 Can Get You Started with Affiliate Marketing Arbitrage. You might be wondering if ₦150,000 can get you started in this business and help you earn big. OH YES! Affiliate marketing is an online business that literally anyone can do from the comfort of their home and make a substantial amount of money.

Which platform is best for investment in Nigeria?

10 Best Investment Platforms in Nigeria 2022
  • Cowrywise. ...
  • Carbon. ...
  • Bamboo. ...
  • RiseVest. ...
  • Trove. ...
  • Wealth NG. ...
  • Payday Investor. Payday Investor allows investors to save money and grow returns by investing in the ARM Money Market Fund. ...
  • Accrue. Accrue is a leading online saving and investment platform in upcoming markets.
Nov 9, 2022

How to start investing in Nigeria?

The stock market is a great place to accumulate wealth over a long period of time, and you can start buying stocks with just 5,000 Naira through a stockbroker or an online trading platform. Investing in agriculture production and sales can be a smart move that doesn't require too much effort or capital.

What is the best business to invest in Nigeria?

What Are The Top Lucrative Business Ideas in Nigeria?
  • Transport Business. ...
  • Establish a Security Agency. ...
  • Invest in Property. ...
  • Create a Writing Company. ...
  • Open a Daycare Center. ...
  • Offer Web Development Services. ...
  • Sew Specialized Uniforms or Special Items. ...
  • Sell Quality Products to Family and Friends.
Aug 9, 2023

What are the sources of income in Nigeria?

Income is classified into four main categories: agricultural (growing crops or raising livestock), non- agricultural enterprise (a small shop or other form of household self-employment), wage or salary income (having an employer), and other, non-labor income.

How can I make $100 a day passive income?

Some popular passive income strategies include investing in dividend-paying stocks, creating an online course, or writing an eBook. These methods require an initial investment of time and effort but can generate a daily return of $100 or more if executed correctly.

How much money do I need to invest to make $200 a month?

Those who are able to save a significant amount beyond their retirement account contributions may be able to generate $200 monthly in interest. “If you have $50,000 in a high-yield savings account offering 5% APY, that's $200 a month right there,” Henry says.

How much money do I need to invest to make $500 a month?

To generate $500 a month in passive income you may need to invest between $83,333 and $250,000, depending on the asset and investment type you select. In addition to yield, you'll want to consider safety, liquidity and convenience when selecting the investments you'll employ to provide monthly passive income.

How much money do I need to invest to make $100 a month?

If you want to bring home an average of $100 per month ($1,200/year) in super safe dividend income, simply invest $13,800 (split equally, three ways) into the following ultra-high-yield stocks, which sport an average yield of 8.71%!

How much money do I need to invest to make 4000 a month?

But even at 9.5%, we're talking about a middle-class income of $4,000 per month on an investment of just a touch over $500K. Below, I'll reveal how to start building a portfolio that could get you an even bigger income stream than this today.

How to make $5,000 a month investing?

To generate $5,000 per month in dividends, you would need a portfolio value of approximately $1 million invested in stocks with an average dividend yield of 5%. For example, Johnson & Johnson stock currently yields 2.7% annually. $1 million invested would generate about $27,000 per year or $2,250 per month.

How much money do I need to invest to make $3000 a month?

$3,000 X 12 months = $36,000 per year. $36,000 / 6% dividend yield = $600,000. On the other hand, if you're more risk-averse and prefer a portfolio yielding 2%, you'd need to invest $1.8 million to reach the $3,000 per month target: $3,000 X 12 months = $36,000 per year.

What business is booming in Nigeria?

The Most Lucrative Businesses in Nigeria in 2023
  • Technology and E-Commerce. The tech industry is booming, driven by increased internet penetration and a growing young population. ...
  • Agriculture and Agribusiness. ...
  • Renewable Energy. ...
  • Healthcare Services. ...
  • Real Estate and Construction. ...
  • Education and EdTech. ...
  • Telecommunications.
Dec 7, 2023

What is the best business for a woman to start in Nigeria?

Start an Online Store

This is one of the easiest business ideas for ladies in Nigeria. With social media platforms like Instagram, TikTok, and Facebook making it easier to sell products online, there's no better time to start your online store.

What business can I start in Nigeria with?

Writers, graphic designers, virtual assistants, SEO practitioners, cleaning service providers, dog walkers, real estate professionals, and more can build a business around their skills. You could offer these skills as an ongoing service or start a consulting business that advises on projects.

How to passively make $5,000 a month?

  1. 7 Proven Ways to Make $5,000-$9,000 Per Month in Passive Income. ...
  2. Invest in Dividend Stocks. ...
  3. Invest in Real Estate. ...
  4. Earn Royalties from a Book, Blog or Podcast. ...
  5. Build a Profitable Affiliate Marketing Site. ...
  6. Invest in a High Yield Savings Account. ...
  7. Profit from Online Courses or Coaching. ...
  8. License Your Inventions.
Nov 2, 2023

How to passively make $2,000 a month?

Wrapping up ways to make $2,000/month in passive income
  1. Try out affiliate marketing.
  2. Sell an online course.
  3. Monetize a blog with Google Adsense.
  4. Become an influencer.
  5. Write and sell e-books.
  6. Freelance on websites like Upwork.
  7. Start an e-commerce store.
  8. Get paid to complete surveys.

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