GbolaMedia

Make Money & Business Blog for Lean Entrepreneurs in Nigeria

Business

Top 10 Crowdfunding Sites in Nigeria to Get Donation Easily

By Leave a Comment

If you’ve been trying to raise a fund or capital for your business idea or any other thing, but don’t know where to go, worry not as I will show you the top 10 crowdfunding sites in Nigeria and the basic stuffs you need to do before and while getting started.

And I will also tell you how you can promote your crowdfunding campaign to attracts more “donors” and gather lots of funds.

But before then, you may be asking….

How Does Crowdfunding Sites in Nigeria Work?

Crowdfunding site is a platform where donations are raised for a particular reason. Either to take care of medical bills, pay school fees, fund your idea or start a business.

Seeking donation from these crowdfunding sites is very and far different from acquiring loan from bank or using loan apps. Because the aim of these crowdfunding sites is to “help” people.

In my own simplest definition, I define these crowdfunding sites in Nigeria as;

A platform where people raise some amount of money digitally  or on the internet from a large number of people who are also known as “Donors”.

Why Crowdfunding is the Best Free Way to Raise Funds in Nigeria

According to Wikipedia, over $34 billion was raised in 2015 from crowdfunding to finance one or two things as earlier explained. That’s about 12,308,000,000,000 Naira (12.3 Trillion Naira)!

And the amount would have increased annually since then.

Apart from the Wikipedia figure, a renowned activist and politician in Nigeria, I mean the founder of SaharaReporters raised some millions of Naira for his presidential campaign using one of these crowdfunding sites in Nigeria.

And also, it’s legal as long as you crowdsource for fund without any false pretense.

You may be thinking that you don’t need to use Crowdfunding sites before you can raise funds in Nigeria but here’s a fact;

Once in a person’s life, the need to finance certain projects may arise, this may lead to leading to outsourcing funds from various sources which may include crowdfunding sites.

These platforms help people finance several important projects when they fall short or have insufficient funds. They’re several crowdfunding platforms available and I’ll be revealing the top 10 best crowdfunding sites in Nigeria, sit tight and lets ride!

Top 10 Crowdfunding Sites in Nigeria

1.     KickStarter @ kickstarter.com

KickStarter is a world-famous crowd funding platform that has helped many is financing many innovative ideas. The site is updated daily with mind-blowing innovations from the world of arts, comics and illustration, and also design and technology visitor of the site will have the chance to view your product, idea or innovation if they find it interesting, you’re in luck as they are able to make payments to support you or your firm.

Once you sign up, you’d be required to provide detailed information on how funds gather will be put to use, this assures the visitors because they’ve got knowledge in what there are putting their money on.

2.     Indiegogo @ indiegogo.com

Indiegogo is another giant among the list of best online crowdfunding sites in Nigeria for the innovative minds – both content creators and innovation seekers, you get to find the best of them all at Indiegogo. Creators from the field of homes and décor, phones and accessories, travel and outdoors, health and fitness, audio, and film are all invited to use this platform in funding their ideas.

Since its launch, the company has helped millions of entrepreneurs worldwide in fulfilling their financial dreams. This has been made possible by it large fanbase of sponsor in about 200 countries of the world.

3.     CrowdFunder @ crowdfunder.com

Another top crowdfunding platform in Nigeria with worldwide reputation is CrowdFunder. Crowdfunder has helped many start-ups in getting their businesses up and running, many start-ups all over the world have Crowd Funder to thank for the so the growth so far of their business.

Asides start-ups, individual with certain projects have the opportunity to post their ideas and innovations, but you have to note that most visitors will tend to favor start-ups more often, so unless you’ve got something highly innovative and important, don’t post as your ideas may not appear on Crowd Funder’s timeline.

4.     Patreon @ patreon.com

Patreon is another CrowdFunding site in Nigeria meant for content creators to help then in funding wonderful projects.

Patreon is more like Facebook in the Crowd funding world, you post your ideas, invite your fans and get them to fund your ideas. Creators which ranges from Video creators, Podcasters, or you’re trying to make money as music artists and many categories of people, use this platform to fund their ideas, and if you fall into any of these categories you should be using Patreon.

It’s quite easy to use, sign up and spread the news to your fans, take out time to customize your profile. With Patreon you could fund any project with few clicks.

5.     GoFundMe @ gofundme.com

This platform helps persons in various disciplines in their fundraising endeavors. The platform utilizes many top payment systems and NGOs in funding the payments of several innovative ideas of its users.

This platform is free and easy to use, they’re no extra charges except those which may be incurred by your credit card company. You could use to platform for funding for a friend, yourself and for charity.

Other categories which the over ten thousand users using this site include; medical, memorial, emergency, nonprofit, education and also pets/animals. You could see a list success stories and testimonial on the site.

6.     CrowdCube @ crowdcube.com

CrowdCube is one of the best crowdfunding sites in Nigeria that seeks to empower entrepreneur and start-ups in and around the world. The founders of this platform saw the difficulties faced by start-ups in getting their businesses off the ground and took out the time in starting up this platform. The platform is funded by its over six thousand partners worldwide.

CrowdCube also has an online app for both apple and android users which helps make it easier for its users to use the platform. If you’ve got a wonderful idea to fund, don’t hesitate to use this platform.

7.     NaijaFund @ naijafund.com

Naijafund is one of the best crowdfunding sites in Nigeria, it seeks to help entrepreneur and start-ups get their businesses up and running. Aside the funding of businesses, other innovative ideas by several individuals can also be funded using NaijaFund.

It’s one of the best home brands, aside the foreign owned crowdfunding platforms that’s offers some of the best service in that category.

Using the site is quite easy and straightforward as users who seek funding could easily connect the service to their various social media platforms, making the reach of customers quite easy.

8.     Circle Up @ circleup.com

Another top brand in this category is Circle Up which focuses on helping entrepreneurs with consumer-based products in focus. Although owned by foreign parties, its reach covers all the world with Nigerians also beneficiaries to this wonderful service.

For entrepreneurs and start-ups new to the labour market, Circle Up will come in handy when looking to fund a product, service and even to get ideas off the ground, from tech, to arts and craft, sports and entertainment and even freelancers could utilize this wonderful service in the funding of whatever package they want.

9.     MicroVenture @ app.microventure.com/crowdfunding

MicroVentures is another brand with over a hundred thousand persons including top firms like Uber, Spotify, Lyft, Anaplan and many others investing in various innovative products. Lots of entrepreneurs around the world especially start-ups use the platform in the getting funds for their products or services.

With MicroVentures, you’re either a creator or investor – as an investor, you free to actively donate to any of the projects on the site with no invest fees. Entrepreneurs from virtually any field can publicize their innovations or products and get support from the ever-increasing numbers of backers.

10.  Fund an Enterprise @ fundanenterprise.org

Last on my list of top 10 crowdfunding sites in Nigeria is a home brand that has been doing great things of late – Fund an Enterprise. The name speaks for the brand as it has helped lots of enterprise in funding small and large-scale products.

The firm is also present in several African nations including Ghana, Kenya and South Africa. Lots of enterprises in these countries including Nigeria have benefited hugely from this platform. The platform still sucks in certain categories which I believe will be worked on in the future.

Here you go!

But wait……

Before I round everything up, let me quickly tell you how to promote your crowdfunding link;

How to Promote Crowdfunding Campaign in Nigeria

The best ways to promote crowdfunding campaigns in Nigeria is through social media marketing.

This is how to go about it:

  • Choose one of those crowdfunding sites listed above and go to their site
  • Create your campaign with solid proof of your reason(s)
  • Get your crowdfunding campaign link
  • Create a Facebook Page & Instagram business account
  • Link facebook page with Instagram to make the campaign 2-in-1
  • POST a short video or Picture that talk virtually talk why you need fund or donation

NOTE: If you’ve successfully link both your Instagram and Facebook page together, POST the video or picture on Instagram and it’ll automatically appear on your facebook page

  • Make sure you write convincing contents in Instagram/facebook post and insert your link after first two paragraph and second to the last paragraph.
  • Boost the post on Facebook with at least N5,000, target worldwide and people interested in the category you needed donation for (either Technology, Medical, Entertainment etc)
  • Sit back and keep tracking your campaign

If you can do all what I’ve listed above in the ‘right’ way, I’m sure you’ll see someone who’s generous to donate some funds for you.

But in meantime, you can check out the following related tips:

Let me clear this for you, GoFundMe is my top recommended among this list of best crowdfunding sites in NIGERIA because it gives no stress and headache, also there are lots of investors (mostly foreigners) on the platform.

You can hire me to help you get more donors for your crowdfunding campaign in Nigeria from both foreign and local investors.

NOW, let round it all off!

 Rounding Off – Best Crowdfunding Sites in Nigeria to Raise Funds

These are the list of top crowdfunding platforms where you can crowdfund for an innovative idea, entrepreneurship, products or even a service.

Kindly note that you must have a very good reason with proof before thinking of outsourcing for money or donation.

And in case you don’t know how to create a crowdfunding campaign or get more donor, kindly hire me ASAP or contact this Digital Agency.

There shouldn’t be a barrier any more with the knowledge of these crowdfunding sites in Nigeria, do well to share this post with your friends and let me know what you think about this post by commenting below

This post, Top 10 Crowdfunding Sites in Nigeria is written and published by me, Stephen Gbolagade.

You May Also Like:

  1. 7 Best Online Shopping Sites in Nigeria
  2. Top 10 Online Paid Survey Sites in Nigeria

Treasury Bills in Nigeria: Investment, Rates, Calculation & All You Need to Know

By Leave a Comment

There are many investment opportunities where you can preserve and increase your money instead of just saving in the bank. Among these opportunities is T-Bills Investment – That’s investing in Treasury Bills in Nigeria. T-Bills investment is hidden to most Nigerians because it’s not hyped or talked about like other ways to make money or start a profitable business.

If by any means you want to know more about Treasury Bills investment, then you’re at the right page.

I will show you everything you need to know ranging from: the meaning of Treasury Bills, How Treasury Bills works in Nigeria, Types of Treasury Bills in Nigeria, Advantages & Disadvantages of Treasury Bills in Nigeria, Rates of Treasury Bills in Nigeria, How to Buy Treasury Bills in Nigeria, How to Calculate T-bills Profit and Definition of some terms related to Treasury Bills.

Now, all you need to do is keep your 100% mind focused here as you will learn something great and new today!

Treasury Bills in Nigeria: Everything You Need to Know

Let go;

What are Treasury Bills?

Treasury bills is also known as T-Bills. It’s is basically of short-term debt backed by the government of any state, in the Nigerian context, it issued by the FG via the Central Bank of Nigeria. These bills are offered here in the country on a bi-weekly basis via the CBN, and due to their liquid nature, they can be traded in the secondary market.

These bills are often used in funding many infrastructural projects which may pop up during governance, most projects like road, school, electricity and more have part of their funding from T-bills.

Treasury bills in Nigeria have a maturity period/date – a period where one can cash out or withdraw his/her funds.

T-Bills more like a loan offered to the government with interest, but this time it’s not from banks alone. It is from any individual in the country. The maturity period can be likened to a loan’s expiration date whereby the borrower will have to repay his/her debt. The maturity period for T-bills varies, but in most case it ranges from ninety-one days to a year, based on the agreement reached, the tenure could be more.

RELATED: Top 10 Banks to Get Loan in Nigeria

How Treasury Bills works in Nigeria?

So how does T-bills work in the country, it’s pretty straightforward.

Once in the period of two weeks, the Central Bank of Nigeria announces the sale of government securities which includes treasury bills, this information is carried in the pages of national dailies and on the CBN website. Interested persons will have to make a purchase by filling out the T-bills form from any of their official dealers, agents or commercial banks.

Once the transaction is approved, the proposed sum will be deducted from the account provided in the application form. Once received you’d be paid your interest rate upfront, the balance will be sent to you at the bills maturity date. This bills from now on will be used in funding most projects, it also used at times to as part of funding for the national budget.

Types of Treasury Bills in Nigeria

There are basically three types of treasury bills offered by the Central Bank of Nigeria, they’re a classified according to validity period;

  • 91DAYS NTB – These bills have a tenure of 91 days after which the FG pays back its debt to the lender. 91 days bill are auctions bi-weekly on Wednesdays but payments are to be made on Friday.
  • 182DAYS NTB – The treasury bills of this type reach maturity after 182 days of bill issuance. After this the bills are payed after the initial interest which is usually paid upfront.
  • 364DAYS NTB – You could also refer to this as bills that are matured after a year period. The auction is usually on Wednesday and payments the next Friday.

Now, let talk about the big deal;

Advantages and Disadvantages of T-Bills

As with all forms of business and investments, there are the good and bad sides of the coin, the same can be said for T-bills. Generally.

However, there are some advantages and also disadvantages which are as follows;

Advantages of Treasury Bills in Nigeria

  • Treasury bills are one of the best investments one can engaged in, for consistent income.
  • Treasury bills in Nigeria are tax free form of investments offered by the FG. This implies that you don’t need to pay added fees for tax.
  • The risks involved are less or let say it has no risk because it’s backed by the government.
  • You are assured of getting every penny invested back, plus interests.
  • There are no charges for transactions and they are very liquid.
  • Very advisable than keeping your money in back. Treasury Bills lets your money keep increasing.

Disadvantages of Treasury Bills in Nigeria

  • The major disadvantage that may is the constant fluctuation of interest rates, as this may hinder your profit potential.

Now let talk about the said rate;

Rates of Treasury Bills in Nigeria

The current rates for National treasury bills can be found on the pages of major newspapers, CBN’s website and the DMO website.

The currents rates Nigeria treasury bills 2019 as released by the CBN are as below:

Auction date

Marginal Rate

91 days182 days364 days
October 16, 201910.8011.00%12.94%
October 02, 201911.0811.60%13.20%
September 18, 201911.1011.75%13.30%
September 11, 201911.1011.79%13.28%
August 28, 201911.1011.58%12.89%
August 14, 20199.7011.35%12.00%
July 31, 20199.7510.60%11.18%
July 17, 20199.7410.75%11.13%
July 03, 201910.5011.70%11.91%
June 19, 201909.6011.89%12.02%
June 13, 201910.0011.94%12.34 %
May 30, 201910.0011.95%12.20 %
May 15, 201910.0012.30%12.49 %
May 02, 201910.0012.49%12.77 %
April 17, 201910.1412.50%12.74 %
April 03, 201910.2912.60%12.85 %
March 20, 201910.3012.20%12.34 %
March 13, 2019N/A12.50%12.84 %
February 27, 201910.90%13.01 %14.37 %
February 13, 201910.97%13.40 %14.95 %
January 30, 201911.00%13.50 %15.00 %
January 16, 201911.00%13.10 %15.00 %
January 02, 201910.89%13.10 %14.50 %
    • Credit: www.nigeriagalleria.com
  • You can find the rests of this by visiting >> https://www.cbn.gov.ng/rates/GovtSecurities.asp, there you’d see the rates for subscriptions, net sales, marginal rates, true yield and more, you’d could also explore the rates for other security like FGN Bonds, CBN bills and more.

How to Buy Treasury Bills in Nigeria

Purchasing of treasury bills in Nigeria is a pretty easy process and anyone can buy into it, as long you have the minimum amount required which is N10,000 you can invest in this business.

  • All you need do is get an agent or accredited dealer.
  • Request and Fill out the T-Bills form you’d be given, state your amount you’d be willing to invest and the money will be deducted accordingly.

Asides these accredited agents, commercial banks in Nigeria are also a good platform to buy any amount of treasury bills in Nigeria, and it’s advisable you use the banks to be on a safer side.

If you still don’t get the whole concept of T-bills purchase, don’t fret as there are agent in most commercial banks to guide throughout the process.

How to Calculate T-bills Profit

After investing in T-bills, you expect to get profit at the end of the day, you could easily calculate your potential profit before its maturity date. To calculate, you’d need to have some variables, the tenure/type of Treasury bill purchased, the amount purchased and you’re good to go.

Income is calculated in percentage so you have you subtract the amount from 100, and dividing whatever you have with the same amount, finally you multiply whatever value gotten by hundred – just like calculating the Simple Interest (SI) in Mathematics.

I mean like:

  • 100 – amount x 100 for the profit.

To get the annualized profit, you’d have to multiply what you have in the formula above by 365.

  • Annualized profit = profit x 365.

Definition of some terms in Treasury Bills:

Some you’d need to familiarize yourself with when dealing on treasury bills

  • Yield Rate – The yield rate for any T-bill is the amount of return on your investment, it’s expressed in percentage.
  • Bill Auction – It’s an event that occurs bi-weekly in which treasury bills are auctioned
  • Treasury Bond – Similar to treasury bills, treasury bond or T-bonds have fixed interest rates and have maturity of above 10 years. The interest is paid on a periodic basis until the maturity date.
  • Government Paper – These are securities that are issued by the Federal Government
  • Stop rate – Stop rate is the highest rate you can get on interest.
  • Tenor – Amount of days, usually 91, 182 or 364 days, that bills can be held.
  • Bid rate – This implies to how much you’re willing to buy any government securities during auction.

Rounding Off – Treasury Bills in Nigeria

So there you have it, all about Treasury bills in Nigeria. Soon, am going to write about top banks you can buy Treasury bill and how to buy them.

Let me say again that investing in T-Bills is very advisable for smart people like you because, the money you keeps in the Bank do nothing for you and sometimes the money are gradually deducted by the banks for some unreasonable expenses like card maintenance etc.

If you invest in Treasury Bills, you’re going to have your money increased and don’t forget that it is 100% risk free!

Keep anticipating for more guides about treasury bills in Nigeria but for now, do let me know what you think about this type of investment and don’t forget to share this amazing information with your friends by clicking on the floating social media icons.

 

You May Also Like:

  1. 9 Steps to Start Real Estate Investment in Nigeria

Top 15 Business Blogs in Nigeria (2020)

By 5 Comments

In this post, I’ll be going over the best business blogs in Nigeria to keep up with the latest happenings in business because in today’s fast paced business world, one would need to be abreast with the latest happenings in the world of business, the latest business trends, business tips and best practices.

These business blogs are the best you can find in Nigeria, with quality contents to keep you up-to-date in the world of business, I’ll be dropping links you can use to access the various blogs I’ll be listing out below, be sure to add them to your bookmarks on your favorite browser for easy access.

Important Disclaimer: I’m not ranking any blog above others and the numbers here are not denoting hierarchy. But the main idea behind this blog post is to show you 15 best business blogs in Nigeria with helpful contents for smart entrepreneurs like you.

Top Business Blogs in Nigeria

1.      Invoice.ng Blog | www.invoice.ng/blog

Invoice.ng is for me, the best blog for business inclined persons and corporations, virtually any class of person in the business world is taken into consideration. Invoice.ng offers some of the best business tips and best practices to stay elevated in this ever-growing world of business.

The site is updated with the best content in business you could think of, why don’t you check it out and see for yourself.

2.      NextnaijaEntrpreneur Blog | www.nextnaijaentrepreneur.com

My second favorite, nextnaijaentrepreneur focuses on developing aspiring entrepreneur and sole proprietors, they offer well-tailored tips that focuses on increased productivity of an entrepreneur. Don’t get too perturbed by the word entrepreneur, the tips and advice provided on the sites is practically applicable to anyone in the world of business.

With the rate of unemployment in Nigeria, nextnaijaentrepreneur is doing a good job in creating entrepreneurs out of nothing.

3.      Nairametrics Blog | www.nairametrics.com

NairaMetrics is one of the top all-encompassing business blogs in Nigeria, the site is fortified frequently with the best of best stories and insight in business, it exposes business persons to the best practices in business, youths with affinity for business aren’t left out, everyone is duly represented on the pages of this blog.

Personally, I’ve learnt a lot by visiting this site and it will be nice you do same.

4.      SME Digest Blog | www.smedigest.com.ng

This blog is updated daily with some of the best news and happenings in and around the world of business, it covers field like entrepreneurship, insurance, stocks and other fields in the world of business.

As a business person, you’d find great posts with picturesque explanations for easy understanding, you could as well share the stories in there with your loved ones and friends to also keep them informed on the latest happenings.

5.      SMEbiz Info | www.smebizinfo.com

If you aspire to start your profitable business in Nigeria soon, there are some sites you’d need to frequent on, SME biz is one of such sites and I say this with every bit of certainty.

Navigation on this site is pretty easy and require less hassles, you visit, navigate, get any information you want without stress. On this sites, you’d be provided with the best tips, guides from experts.

6.      Gbolamedia | www.gbolamedia.com

Gbolamedia is also one of the best business blogs in Nigeria, with helpful insights guides and tips on the latest happenings in the business world. The blog provides the best information you could find in the world of business, this site is more concerned in the growth of business persons and entrepreneurs.

It was ranked as one of the 100 best SME blogs on the internet by Feedspot. Accessing Gbolamedia is pretty easy as the site is both mobile and desktop friendly with well outlined navigation.

7.      Utibe Etim | www.utibeetim.com

From the name you can tell the blog’s owner – Utibe Etim. He’s one of the top bloggers in Nigeria and a programmer which focuses on web technologies – these technologies he has harnessed by creating one of the best blogs in the country that focuses on business. As with most blog owners, Utibe Etim uses his passion in addition to vast knowledge in the world of business to offer quality information for the consumption of business persons.

8.      Starta | www.thestarta.com

Another top business blog in Nigeria is Starta, despite its early status, the blog and its team of experts find a way to deliver fresh and quality contents to your PCs and smartphones. Topics on this site encompasses all fields in business and they cater for all in the business world especially start-ups.

9.      SME Toolkit | nigeria.smetoolkit.org/blog

Not your conventional hardware toolkit, but an online based toolkit with all the necessary tools in running modern business. The toolkit covers all from, stocks, business insiders, pro tips, and other important advice to keep you on the way to your business success.

If you are thinking of starting up any business in Nigeria, then frequent visit to this site will set you off the chasing park.

10.  Ventures Africa | www.venturesafrica.com

Ventures Africa focuses on the best business innovations in and around the continent of Africa – with specific interest in Nigeria since its owner is a Nigerian – Uzodinma Iweala.

The blog’s love for innovations leads it owners scouring the continent in search of business innovations and bringing it right back to your internet enabled devices. Asides innovations, Ventures Africa also provide best stories and tip from the business world.

11.  Profitable Venture | www.profitableventure.com

Ever thought of starting a profitable venture, well think no more as I present to you a blog which is directed towards the success of entrepreneurs. Nobody wants to be in charge of a business where nothing works, we are all in business to make profit and that what this site seeks to do by providing the best implements for growing any business.

12.  Entrepreneurship Secret | www.entrepreneurshipsecret.com

Well this site should be of great interest to all entrepreneurs who want wish to get the best out of their businesses. As the name of the blog implies, secrets on the nitty-gritties of entrepreneurship and make you enjoy your business like never before.

13.  Startup Tips Daily | www.startuptipsdaily.com

As a newbie in the world of business, you’d need some tips to help you scale through the murky waters of business. Startuptipsdaily.com provides daily tips for startups in Nigeria in a bid to aid them succeed through the preliminary stages of their business.

14.  Entrepreneur Business | www.entrepreneurbusinessblog.com

The entrepreneur business blog is one of the best business blogs in Nigeria for best tips and tutorials on running whatever business it is you run. Its expert team of entrepreneur provide some of the best laid out information in the business world, in a well-articulated manner.

15.  Entrepreneur Platform | www.entorm.com

This is one the best online platform for business inclined individuals, with latest information in this face moving business world. You can also get insight on top skills in Nigeria that’re profitable and how you can start them. Every entrepreneur should endeavor to visit this platform for best in the business world.

What’s your opinion above these listed top business blogs in Nigeria?

So there you have guys, there you have it – the best business blogs in Nigeria. And once again remember that this is not a ranking blog post and I don’t have any intention to place any blog above others but I wrote this strictly for educational purpose,

I’ll be waiting to hear your thoughts in the comments!

You May Also Like:

  1. How to Get Freelance Writing Jobs in Nigeria – and Succeed in 2020
  2. Top 100 Small Business Blogs (SME Blogs) on the Internet in 2019

Top 10 Business Ideas for Housewives & Moms in Nigeria

By 2 Comments

Lucrative business ideas for housewives in Nigeria – In today’s world women are beginning to take the initiative – not depending on their husbands for money and other material things, they’re getting it all on their own. Asides working class moms, housewives can also make good money by starting a profitable business.

In this post we’ll be going through some of the best business ideas for housewives in Nigeria. These ideas may be simple businesses or even tech-inclined in any way but, women are also doing great things in the world of tech. Most of this businesses requires little to no capital, some will requires some tutoring which you can find online.

Profitable Business Ideas for Housewives in Nigeria

1.      Catering (BAKING)

Catering is one good way any housewife could make good income, it doesn’t require much to do. I will say baking is a much easier option among the numerous catering ideas as it doesn’t stress you out – it easier!

In baking, you’re spoiled for options, there are lots of thing you could bake as housewife and make good money. We have, cupcakes, doughnut, meat pie, burger, little breads and even chin-chin. All these products will make you good money not matter where you find yourself in Nigeria – once they taste nice you make lots of costumers.

2.      Writing

If you’ve got good writing skills, then you could make good money writing for different corporations, and even yourself – by writing books.

If you’ve got the skill and perhaps don’t know how to go about it, then I’ll give you some suggestions on how to start.

As a mom at home all day, working offline wouldn’t be ideal – unless you wish to write books, if that’s not want you want. Then there are lots of online platforms seeking for good writers with good writing skills. If you think you’ve got what it takes, then you could visit any the freelance platforms listed here.

3.      Fashion Design

The fashion design industry in Nigeria is pretty huge and has lots of potentials for intending fashion designers. Although I’ll say this field of business is saturated, if you’ve got the ‘know-how’, a good fashion sense, and the right equipment, then you could make good money from the comfort of your home without depending much on your significant order.

I’ll say this type of business idea for housewives in Nigeria is more capital intensive than the two above, you’ll need to purchase some equipment to aid your work, as for workspace, you could choose a portion of any room, or any room and caress your hand.

4.      Web Design

Still on design, but now a much more tech inclined type – website design is of  business ideas for housewives in Nigeria that I can recommend to both men and women, because I have been doing this for a while and the return is pretty good than any other businesses i have invested in.

Gone are the days where certain professions are left for a specific gender, many technical and technological tasks were left for the male folks, with little to no participation from their female counterpart.

Today, lot of ladies are beginning to do great things in the world of tech and you could join the trend and maybe stamp your name in the ‘tech hall of fame’!

We have many web design agencies in the country who are doing pretty well, and they have females like you as part of their team members.

Women by default love design and as such, delving into this field wouldn’t be much of a tasks – it would be more like fun!

5.      Bead Making

Still dwelling on things that has to do with design and fashion, bead making is another good business ideas for housewives in Nigeria to make money.

Bead making I’ll say is less capital intensive – it requires little to no capital as you may already have some beads which you could use in starting up this nice business.

One good thing about bead making is its ease it gives to the maker, you could still do other things while making good beads.

6.      Digital Marketing

Moving back to more techy ideas, digital making has made many rich in recent times, it requires less effort as you could do this using any of you smart gadgets – your smartphone or PC.

Digital marketers are needed in our today world as businesses keep seeing the benefits of digital advertisement. The era of TV and radio jingles is slowly phasing away due to the efficiency of marketing digitally, you could target a specific set of individuals.

This business idea may be difficult to acquire mastery, not to worry if you’ve got the passion, then you could learn the ‘ins and out’ of this business on various online platform – Google, YouTube, Udemy and more.

7.      Vlogging

Vlogging functions more like blogging, but in this case, using audio-visual means in telling stories and ideas about things. Vlogging is beginning to gain credence in today information filled world, many bloggers are beginning to go visual, use videos to tell their stories.

People generally love learning through visual means as it’s easier to comprehend the information shared via the use of videos. If you think you can do this, then be prepared to get a camera, or preferably a smartphone with good camera for a start.

Get your ideas of income and go to YouTube.com to create a channel and go on to dominate your niche!

8.      Blogging

Blogging pays a lots – yeah it does and anyone could make good money in this business. This idea I would say is pretty nice as there is no limit to how much you can earn. There lots of bloggers in Nigeria today who are making money via blogging – students, working class persons and even housewives, there lies lots of money making possibilities.

Starting this business will require you to have a good gadget with good supply of the internet, constant research and reading on your chosen niche and the ability to convert your thoughts to words, with these in place, you ‘re good to go.

9.      Affiliate Marketing

Marketing is crucial to the success of any business, most businesses creates opportunities for affiliates who use their products or services and also wish to make some money in the process.

This is one of the best business ideas for housewives in Nigeria because, you don’t need to break the bank before you can start and, you can make lots of money while recommending or helping big companies to sell their products or services.

As a housewife who wish to venture into the business, you’d need some tutoring on how to go about it the right way – there are many who are affiliated to many companies, but they make little to no money, while others who go about it the right way make good money off it.

Recommened:

10.  Dropshipping

Dropshipping is the new gold in today’s internet driven business, a world where you could own a nicely furnished retail store right from the comfort of your home, run it effectively and make good money from it as a housewife.

There are numerous platforms for aiding you through the nitty-gritties of dropshipping in Nigeria, I’ve shared some of the best platforms for dropshipping in previous articles, do well to check them out.

As a housewife you could make lots of good money by owning a retail store online, as with affiliate marketing you’d need some tutorials in a bid to master this line of lucrative business.

Wrapping up – Top Business Ideas for Housewives in Nigeria

As a housewife you’d have little or nothing to worry about financially as long as you engaged in any lucrative business, the ideas outlined above are among the best you could think of. What’s your take on these business ideas for housewives in Nigeria? I’ll be waiting for your feedback(s) in the comment box below.

And don’t forget to share this article with your friend on social media by clicking on the social icons floating in this page.

You May Also Like:

  1. How to Start a Dropshipping Business in Nigeria & Make Money in 7 Easy Steps
  2. Top 10 Grants for Entrepreneurs in Nigeria to Help Finance Your Business Ideas

Top 10 Banks to Apply for Loan in Nigeria – Get Personal or Business Loan

By Leave a Comment

Applying for loan in Nigeria is one of the ways we source for capital to start a business or expand the business. And sometimes, people visits banks to apply for loan in Nigeria without any collateral in other to take care of an urgent and important matters such as paying school fees, health bills and many other things that requires funding.

Although, some people chooses to borrow money from agency who may later become “loan shark”. These loan sharks are after nothing but your collateral(s) and that’s why it is important to choose where you get your loan appropriately and with peace of mind.

Some banks requires collateral before they can gives out loan in Nigeria, while few of them doesn’t need your collateral as long as you meet their other requirements (especially as a reliable customer).

There are more than twenty commercial banks in Nigeria, but the gospel truth here is that: not all these 20+ banks are good in terms of dishing out loans.

Before you visit any of these banks to apply for loan in Nigeria, you need to know the interest rate, and all other features which makes a loan looks nice on you — although there is nothing like a nice loan, when it’s time to repay.

I’ll be revealing top and reliable banks that gives loan without collateral in Nigeria.

Top 10 Banks to Apply and Get Loan in Nigeria

1.      First Bank

Don’t get anything twisted here, the name doesn’t make it comes first, but the reputation over the years does. First Bank has been in business since 1894 and has continually delivered fresh innovation in all its products and services — they’ve even got an insurance service.

If you need to apply for either business or personal loan in Nigeria, First Bank coincidentally leads the chart in the country, they’ve got different loans for different purposes; education, contract financing, SMEs, mortgages and more.

Requirements to Get Loan at First Bank Nigeria

Applying for loan at First Bank Nigeria will require the following items;

  • An application letter
  • Proof of payment for the last six months
  • Statement of account for six months
  • Utility bill
  • Means of Identification

All these are to be submitted at any of their branches nationwide.

You can also apply for the loan at first bank using their online loan channel using this link: First Bank Nigeria >> Banking >> Loan

2.      GT Bank

GT Bank ranks as one of the top banks to apply for loan in Nigeria, which on my list they comes second. They offer some of the best loan packages in Nigeria you can think of, from conventional loans, salary advance and quick credit.

Here are the requirements to get any loan from GT Bank, Nigeria

  • Applying for quick credit loan at GTB can done via your smartphone and you will have to be a current account holder with GT Bank.
  • For conventional loans — which can be used for any purpose, the requirements are as follows:
  1. A letter of application
  2. A collateral
  • Banks statements for six months
  1. Proof of employment or income for the last six months
  2. And in some cases, a guarantor with reputable financial history.

You can apply for loan at GT Bank using their online loan portal via GT Bank >> Personal Banking >> Loans OR apply by visiting any of their branches.

3.      WEMA Bank

We’ve all heard of ALAT by WEMA, well that’s one of their many innovations that sets the above the park. They’ve got nice packages for salary earners, business persons, and the government.

They got one of the best interest rates, with fast disbursement of any amount requested.

IF you need to get quick online loan without visiting any banks in Nigeria or filling any loan application form, you can check out these top 10 loan apps in Nigeria and they can be downloaded free on Android at Google PlayStore and on iOs at AppStore.

All loans from WEMA could be applied online by visiting WEMA Bank >> SME (via a smartphone or PC) and offline (via their business offices).

Requirements to Get Loan at WEMA Bank, Nigeria:

It doesn’t take much as some requirements remains the same as the two above;

  • An application letter
  • A letter of introduction by your employer
  • Irrevocable letter of salary domiciliation
  • A valid proof of income for at least three months
  • Your current address via a utility bill
  • And valid means of identification

All these can also be submitted both offline and online. And if you meet their requirement, you will get your loan request approved and given to you.

4.      Sterling Bank

Sterling bank is also known for it numerous innovation and top class service offerings. One of such innovations is its ‘SPECTA’ loan program that offers up to five million naira to salary earners in the country.

For conventional loans, Sterling bank has also got you covered with loans you could use for any purpose of your choice.

You’d have to visit any of their offices or online using Sterling Bank >> Personal >> Loans

The Requirements to Get Loan at Sterling Bank, Nigeria are:

  • An application letter
  • Proof of payment/statement of account for at least six months
  • Proof of employment
  • And some additional paperwork which will be revealed to you there.

5.      Zenith Bank

Here is another lion among the top banks to apply for loan in Nigeria, Zenith Bank.

The bank is well recognized locally and International with many prestigious awards to their names. The loan program offered by Zenith is one of the best in the country. The loan varies from salary earners to business persons and government organizations.

Zenith Bank’s loans can be applied both online via Zenith Bank >> Personal Banking >> Loan and offline.

Below are the requirements to get loan at Zenith Bank, Nigeria;

  • A valid means of identification
  • Proof of employment/income
  • Account statement of at least six months
  • And your bank verification number.

6.      UBA Bank

United Bank for Africa is another top brand that offers one of the best loan packages to individuals of all categories, and this add to their prestigious service as they also offers a very special prepaid VISA card you can use for any online shopping.

They offer loans of various amounts with the competitive interest rates.

UBA Bank loans can be applied by visiting any of their nationwide offices. Application form could be gotten via the bank’s website: UBA >> Nigeria >> Banking Banking >> Loan Payment or by visiting their offices.

Requirements to Get Loan at UBA Bank:

  • A valid ID
  • Proof of employment/income
  • And a guarantor (a person of good standing in the society with good financial background).

7.      Access Bank

Access bank is one of the top banks in the country presently and their loan packages is one of the best in Nigeria. Their loan vary from personal loans to business and even mortgages. And the bank has been very active than ever since they acquire Diamond Bank, this has added to their reputation and reliability in Nigeria.

Access bank offer flexible loans with competitive interest rates.

Requirements to Get Loan at Access Bank, Nigeria:

Before applying, you need to provide the following at any of their offices or online via the portal Access Bank >> Personal Banking >> LOANS

  • Your Bank Verification Number (BVN)
  • An application form
  • Letter of confirmation of employment
  • Valid means of identification
  • And letter of lien.

8.      EcoBank

EcoBank provides good loan packages for all your needs, be it business, purchasing that home or executing that project. The loans are flexible to all categories of persons.

Requirements vary according to type of loan, you can get more information by visiting any of their branches or online via https://www.ecobank.com/gq/personal-banking/products-services/loans

9.      STANBIC IBTC

Penultimate bank on this list is STANBIC IBTC bank, despite their ranking here, they still find a way of delivering competitive loans in all categories.

Requirements to Get Loan at Stanbic IBTC Bank, Nigeria:

Some of the initial requirements are as follows;

  • The applicant must be above 21 and not older than 60 at the expiration of the loan’s tenure
  • Proof of employment or income for the last six months
  • Good credit report
  • And for personal loans; you need to have an account with STANBIC.

For more, you can visit STANBIC IBTC loan portal via https://www.stanbicibtc.com/Nigeria/Individual/Borrowing/Personal-Loans

10.  Union Bank

Last but not the least is Union Bank, offering one of the best loan packages with great value on interest.

They offer all types of loans including loans for homes, salary earners, government and are at competitive prices. The requirements are as the same as above and you need to visit any of their offices or online using this link >> https://www.unionbankng.com/loans/

Wrapping Off – Top Banks to Apply for Loan in Nigeria

Applying for loan in Nigeria from these banks are easier than ever. But I will strongly advise you to learn more about each bank’s policies before you request for loan from them.

And it’s important you know your ‘why’ before you think of applying at all.

DISCLAIMER: Please kindly note that this post is not for ‘Ranking’ purpose or the numbers aligned above defines how best the bank are, which it comes to granting personal or business loan in Nigeria. But this post is ‘only’ for educational purpose – to enlighten you about the best banks you can get loan in Nigeria and their requirements.

So here are the top 10 banks to apply for loan in Nigeria, which do prefer and do you have any question? Let me know in the comments!

You May Also Like:

  1. 10 Best Loan Apps in Nigeria to Get Quick Loans Without Collateral
  2. How to Apply for NSCDC 2019/’20 Job Recruitment

Top 10 Agricultural Businesses in Nigeria with Little Capital but Huge Profit

By Leave a Comment

Nigeria is a nation blessed with many resources which fetches the nation’s income, from crude oil to coal, limestone and even rich soils for farm produce. Talking of farm produce, we’ll be going through the top 10 agricultural businesses in Nigeria that you can start with little capital and make huge profit

Of course we all know that investing in agriculture is one of the best thing a person can do in their lifetime, especially in Nigeria where there’s no enough space for those seeking white-collar jobs.

Some of the richest persons in Nigeria make most of their money via investing in agricultural businesses. A perfect example is Ex-President Olusegun Obasanjo, General Muhammad Buhari, Aliko Dangote and others.

Although most “schooled” fellow thing that farming is a symbol of poverty and somehow not worth devoting time for, because it brings little profits.

But, Investing in any or various agricultural businesses in Nigeria with the right orientations, fetches hefty income.

Well, to be honest with you, not all agro materials gives a lot of cash. Some yields more gain while some yield less. But let talk about talk about these profitable agricultural businesses you can start with little capital and make some profit;

 Top 10 Lucrative Agricultural Businesses in Nigeria – (W/ Little Capital)

1. Plantain Plantation Business

Plantain is a nice meal and packs very nutritional contents, like iron and vitamin D. Plantain is a multipurpose dish, the popular ‘boli’ is made off plantain and guess what, the people love it — I haven’t seen anyone who dislikes boli, not one!

Aside Boli, plantain could be either fried, and/or eaten with rice, boiled, or even used in the production of other delicious delicacies.

You see people selling plantain chips in streets, car park, supermarket and even that fancy restaurant near you.

With all these use cases, the idea of setting up a plantain plantation would be great, just a rich land and you’re in business.

All you need is to get a piece of land, clear the bushes, find or buy the plantain suckers and plant them all.

Plantain’s plant doesn’t die or perish except you clear them off, and this make it a good business to start. Because it will keep reproducing, even if you cut them.

2. Cassava Plantation Business

Cassava farming is one good lucrative agricultural business in Nigeria. It’s a known fact that most Nigerians loves ‘garri’ — which is a derivative of cassava — I love it too.

Aside it’s most conventional use case which is the production of garri, most tribes use it for the production of other food items. If you’ve ever gone through the pack of most baked items, you’d find cassava flour in almost all of them.

Cassava farming has been giving money since Nigeria’s inception and it still does in today’s Nigeria — even though it’s now saturated.

All you need to start this business is to find a good piece of land, make heaps, find or buy cassava trees and plant!

3. Poultry Farming Business

We all love chicken and yeah you could also make agro-money in Nigeria via a poultry farm. Most persons in the country prefer chicken to any other form of meat, as such they always go for it. Poultry produce have some of the best nutritional contents you can’t find in other forms of meat.

Starting up your poultry isn’t quite difficult as you don’t need a land for it, just a good poultry house, some hens and cocks, and poultry feed. One hazardous factor in poultry farming is the offensive smell it gives out, but recently there are ways reduce the intensity of the smell.

N.B. There’s no better time to start your poultry than now, December is fast approaching and Christmas festivities drawing near!

Apart from poultry farming, you can also extend to egg delivery business which is also lucrative.

4. Snail Rearing Business

One of the best decisions you’d take in your life is investing that money of yours in rearing of snails — don’t get it twisted, I meant every word in that sentence.

Snail are nice creature with many health benefits, and best of all they’re hermaphrodites — this is every business persons delight, you don’t need to go hunting for opposite sexes.

Aside it nutritional benefits, rearing of snail provides good money for anyone who wishes to do this business, best of all, the market isn’t saturated.

If you would like to start this business, here is a guide on how to start snail rearing business in Nigeria (and make huge profit)

5. Pineapple Farming Business

A very sweet fruit that serves lots of purpose and used in different industries. Pineapple is one of the top lucrative agro products in Nigeria. It’s fortified with a good measure of vitamin C, and other nutritional minerals.

One good thing is that it’s generally love by all and as this adds to your earning potential. One visible application of pineapple is its use in the production of pineapple juice by juice factories.

Whether juice or eaten originally, you’d be able to make good money off pineapple farming if you start today.

Once you have your land ready, only the suckers are needed and you’re good to go!

6. Fishery

Fishes are nice creatures and also a nice way to make money is by rearing them. You need to be aware that fishes are of different species and not all offers profit, some have high profit margin than others.

I’ll advise you go for catfish rearing if you want to make good money in this business, reason is that you can easily rear them and second, they’re in high demand especially for those lovely fresh fish pepper-soups.

Rearing catfish is really one of the most profitable agricultural businesses in Nigeria

7. Piggery

Pork meat is a very sweet meat, for me it’s more delicious than all meat types present in the country. Starting a piggery business in Nigeria might be a little tricky due to the dirty nature of pigs — as dirty as pig they say.

A male and female pig could give up to a double dozen of kids at once, and as they continue to reproduce the more money you’d be making. You’d have to feed these pigs constantly else — the parents may eat their young ones alive — that’s how they are!

8. Coconut Plantation Business

With the discovery of coconut’s rich nutritional content on the skin, the demand for coconut is on the rise. Coconut is very rich and can serve numerous purposes; it could be used in preparing coconut rice, it’s nicely eaten with corn during the season and it’s also sweet when eaten alone.

Lots of persons are beginning to see the importance of this, and as such setting up coconut plantation and you should join the train too. You need vast land in order to start this agricultural business in Nigeria, and it’s capital intensive.

9. Cattle Rearing (Cows)

Another top agro business that is very lucrative in Nigeria is the rearing of cattle or sheep. The produce can be used for milk production, and also as meat.

This is a very capital intensive business as you’d need large land for grazing and lots of cattle to start up. It might be difficult in the beginning but as time goes on, you’d love the business.

You’ll see that northerners take this business with every passion in them and, if you ask or observe the butcher around you about cattle rearing, he will tell you it’s one of the most lucrative agricultural businesses in Nigeria to invest in.

10. Palm Oil Plantation Business

Palm oil as we all know can’t be eaten solely on its own, but it is used in preparing many dishes, from cooking to frying and for other purposes as well. It is used for other purposes in other industries in the manufacturing of several products.

You’d need a huge capital and vast land for starting up this business and mind you, it’s highly saturated.

There’s another way you can make money with palm oil and this really make it one of the most profitable agricultural businesses in Nigeria.

This other way is called ‘flipping business’

Prices of commodities varies in Nigeria (just as exchange rate isn’t constant), you need to observe the market thoroughly and know when the price of palm oil’s ‘keg’ increase or decreases.

Your aim is to buy as much as possible when it decreases. Let say a ‘keg’ of palm oil reduced from N8,000 to N6,500. You can buy 10 kegs and keep it inside a safe place by putting them on plank of woods (avoid the kegs of oil touching ground)

Study the market until the price of each keg increase more than the invested capital. For instance, the price might increase suddenly to N9,000 and if you sell all you palm oil at this rate, you’ll make N25,000 in profit.

Wrapping Off – Top Agricultural Businesses in Nigeria

There lots of things you can do to make good money in Nigeria, but investing in agriculture is one sure fire way to add to your earning potential as well.

There are lots of lucrative agricultural businesses in Nigeria and I’ve given you the top 10 of them.

Do let me know what you think about these businesses and you can share with your friends on social media if you love this article.

You May Also Like:

  1. How to Start Snail Rearing Business in Nigeria (Complete Guide)