Passive income has become necessary because, nowadays, most jobs barely cater for basic needs. The idea of passive income came up to compensate for the gap generated by employment, and these ideas have evolved with technology.
While most people engage in other side gigs to increase their revenue, some equally engage in these gigs as mere hobbies.
There are many ways to make passive income, and these are not limited to hand skills like driving and cooking. Nowadays, soft skills are also in high demand, and one can always volunteer with them as a side hustle.
This article lists and explains 7 passive income ideas that you can choose from as a Nigerian.
7 Ways to Make Passive Income as a Nigerian
Baking and small chops
One of the significant passive income ideas in 2022 is to make and sell cake and small chops. Baking is a unique way of transforming flour and other ingredients into sweet flavoured food.
You can choose to engage in baking as part of the ways to make passive income. Baking can be done at home using any energy source, including firewood, gas, or kerosene, as the oven for baking.
The small chops and cakes can be baked after work hours; nowadays, most events take place on weekends, so a person taking this passive income idea can do so without much interference from work.
Cakes and baking products are in high demand due to the events occurring every weekend, making this a perfect idea for passive income.
Read also: Why you should have multiple sources of income in Nigeria.
Freelancing is mainly done when one registers on freelancing websites like freelancer.com, fiverr.com, hawkit.com, etc. These websites offer a platform to enlist their skills and bid for gigs as potential employers post them.
Skills like writing, graphics design, programming, etc can be enlisted on these platforms and you can bid for projects.
Freelancing is one of the best passive income ideas, and it doesn’t require specific work hours. Working as a freelancer allows one to work after the conventional work hours. This passive income idea works with deadlines and does not require physical presence to carry out such tasks.
Read also: How to become a successful freelancer in Nigeria.
One of the ways to make passive income in 2022 is to start a transport business in Nigeria. You may enlist your vehicle on platforms like Taxify, uber or local transport to render transport services after work hours.
You may also choose to go for the conventional way of registering with motor parks during weekends or after work.
It is estimated that people engaged in this side hustle have an average monthly income of 200 – 300k. This is one of the top passive income ideas in Nigeria, workers who own a vehicle may decide to offer corporate car hire services to NGOs, business people, etc
Provide online courses
One of the passive income ideas for Nigerians is through online courses. An online course is usually in curriculums that are taught entirely online. Certificates are generally awarded at the end of the learning process.
They are designed in such a way that they are self-paced, and the course materials are in the form of soft copies which can be downloaded. Advancement in technology and learning now allows people to learn anything online without necessarily visiting the four walls of a classroom.
Nowadays, one can access the learning materials of any university through distance learning and online courses.
You can make passive income by providing online courses and selling them through your platform (usually a website) or popular platforms like Facebook, Twitter, and LinkedIn.
YouTube channel is one of the top passive income ideas out there. YouTube is a video and audio collection of videos that users can subscribe to while allowing content creators to make some income from their already uploaded content online.
YouTube contains billions of videos that you can choose from for various reasons ranging from entertainment, learning, and news. As part of the ways to make passive income, you may decide to open a Youtube channel and teach a particular subject that you’re particularly great at.
Read also: 10 Amazing ways you can make money on YouTube.
If you are looking for passive income ideas, then content creation is something you should consider. Content creation is a unique skill that seeks to find creative ways of passing across information or advertising in an engaging manner. The content is channeled in such a way as to capture attention while giving the information. It is one of the ways to make passive income, and content creators use their unique skills to create online marketing or promotional content which pays them.
Platforms like Facebook, Twitter, and other social media platforms support such creativity.
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Ghostwriting and research assistant
Another passive income idea is to enlist as a ghostwriter and research assistant. Ghostwriters write articles or materials on behalf of other people, usually at a certain amount.
The person paying for the ghostwriting gig takes all the credit for the writing, and research assistants function similarly with the person paying for assistance taking the credit.
This is one of the best passive income ideas, and this gig can be done remotely using the internet to search for relevant information online. If you are looking for ways to make passive income, you may consider these particular passive income ideas.
There are many passive income ideas to choose from, which are not only limited to YouTube channels, freelancing, driving, and all the other passive income ideas listed in this article.
It is essential to select the passive income that best suits your schedule so as not to have a clash of interests.
And you can always learn new skills to improve earnings at any point irrespective of age, gender, and location, all thanks to globalization.
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- Yakubu is a seasoned writer with a scientific background (Biochemistry) having a Masters level of education. He enjoys writing articles involving the technology space and some other days he's a Researcher trying to change the world.