Everyone wants to “make money while they sleep,” but what does passive income actually look like for Nigerians today?
In this article, we spoke to five Nigerians who are doing just that — from dividend stocks to short-term rentals and side hustles that now run themselves. They shared how they got started, how much they earn, and what it really takes to build an income that doesn’t require your 9–5 energy.
Spoiler: It’s not always as “passive” as it sounds.
“Agritech investing brings me extra money without getting my hands dirty” — Tunde*, 29, Bank Executive
What drove me to start: I’ve always liked the idea of making money from agriculture, but I couldn’t farm full-time. Then, in 2023, a friend introduced me to an Agritech platform that pools investors for farms and pays returns after harvest. My friend’s colleague runs the platform, and at the point my friend brought it to me, he’d made a 30% profit on his own investment. It seemed like a good way to make extra money without getting my hands dirty.
How I did it: I began with ₦300,000, split among three projects: poultry, maize, and plantain. I didn’t want to put all the money in one project to reduce risk. By harvest time, I had made a total profit of about 25% across the three different projects.
What I earn now: I mostly reinvest my profit, and right now, I have ₦1.5 million in two crops. These bring me around 20% ‑ 25% in annual returns during good cycles. So, that’s approximately ₦300,000 per year on my portfolio, or ₦25,000/month. Payments don’t come in monthly, though. It’s usually per harvest, which is yearly or quarterly. It feels like a reward for just leaving my cash somewhere.
That said, there’s risk in Agritech investing, and sometimes, crops just don’t do as well as you hoped. In 2024, I invested ₦400k in fish farming and barely made my capital back because most of the fish died. So, I try to study risk levels and farmers’ track records before putting my money.
“I wake up to see money in my account” — Diane*, 28, Digital Marketer
What drove me to start: I got my first digital marketing job out of uni in 2019. I handled social media content and ads. After a while, I realised I was always reading blogs and forum posts about affiliate marketing: you share a link, someone buys, you earn. I liked that I didn’t need to worry about stocking and delivering physical goods. The risk was lower. So around 2022, I decided to try.
How I did it: I chose a niche I understand — beauty & skincare, because I love trying new creams and products. I converted my amateur writing blog into a space where I reviewed products, wrote “before/after” content and shared discount codes. I also started posting regularly on my Instagram and TikTok.
Everything I read about affiliate marketing pointed to the need to have an audience I could actually sell to. So, my goal was to invest time upfront: create high-quality content and build a following. Plus, if affiliate marketing didn’t work, I could use my page as evidence of my work to apply for social media management jobs.
Then I joined Jumia’s and Selar’s affiliate programs (the latter to sell digital products). After that, all I needed to do was insert my affiliate links to the products I referred to in my content, and I made money when people made purchases with my link. Initially, I made random ₦10k here and there. Then Jumia started moving funny in 2023/2024, so I abandoned them.
Fortunately, Temu reached out to me around that time, and I now make money through their influencer program. I’m not sure if they have an actual affiliate program, but they allowed some influencers and creators to earn commissions from sharing referral codes and links for new members to sign up.
What I earn now: I make about ₦30,000 to ₦150,000/month passively from affiliate sales on Temu and Selar. Most of my Selar earnings come from repeat content I posted long ago, which continues to bring in clicks. I rarely create new content these days because I get so busy with my main job. I literally wake up and see money in my account. I still have to do videos for Temu, but I don’t consider it “active work” because I’d still create content for my social media regardless.
“My shortlet apartment pays my bills” — Sean*, 33, Music Producer
What drove me to start: I inherited a two-bedroom apartment in Lagos from my dad in 2018, and for the longest time, I rented it out on an annual basis. However, I kept having troublesome tenants who either delayed payments or frequently requested that I fix one thing or another.
Then, in late 2023, I came across the idea of running a short-let business. Some friends came to my area for a daycation, and I learnt they paid ₦50k per night for four nights. The apartment they rented was almost the same size as mine, and the owner made ₦50k practically every day. Yet, I was there struggling to get tenants to pay ₦1.2 million a year. I decided then that I needed to change my approach to renting.
How I did it: I evicted my tenant and spent ₦1.8m renovating and furnishing the apartment. Then, I listed it online (Instagram and Booking.com) at ₦45k/day and also did a lot of word-of-mouth advertising.
The first few months were rough. I hardly got bookings, and I didn’t realise how stressful managing guests could be. Guests would literally steal pillow cases and damage the entire place if one isn’t careful.
Thankfully, things got a bit smoother towards the end of last year, and it has now become a more passive source of income. I have a manager on standby to handle cleaning and operations when needed. So, it runs without me. I just get paid.
What I earn now: In a regular month, I book about 12 nights, which translates to about ₦660,000 in gross income (I now charge ₦55k/day). Out of that, I spend around ₦350k on staff fees, utility bills (NEPA, fuel, Wi-Fi, etc), platform fees (Booking takes about 10–15%) and occasional maintenance. So, my net monthly income ends up somewhere around ₦310,000, depending on how well the month goes. At least it covers a good chunk of my bills.
“I make ₦200k ‑ ₦500k monthly from dropshipping” — Ebere*, 32, Teacher
What drove me to start: My friend was into dropshipping, and I liked how it worked. She only needed to list the products; the supplier handled shipping when customers made orders. Zero capital, just handle customer service and marketing. I wanted that kind of ease, too. So, I started in 2022.
How I did it: I set up an online store on Instagram, sourced trendy items from local suppliers and tested small batches to see what people were more interested in. I found early success in female fashion and home decor, so I focused on that. Also, I ran multiple ads and kept my profit margins small to stay competitive.
What I earn now: I make between ₦200k ‑ ₦500k/month. I now have an online store on TikTok, and I also post my products on declutter pages to find new audiences. These pages charge a 10% – 15% commission on every item sold through their page.
When I first started, I managed day-to-day orders and connected buyers with suppliers. However, since last year, I’ve had a virtual assistant who handles that task. I pay her ₦85k/month to respond to customer messages and get pictures from the supplier. I only come in occasionally to tweak ads and ensure everything is running smoothly.
“For me, investment feels like earning money just to hold onto it” — Sotayo*, 33, Product Designer
What drove me to start: I’ve always been a chronic saver, but as I started earning more and interacting with people in similar income brackets, I realised I was just doing myself a disservice by leaving all my money in my savings account. I could take calculated risks in investments and actually get rewarded for that.
How I did it: I opened a brokerage account in 2020, and with professional advice from finance colleagues, I started buying shares in established Nigerian firms that consistently pay dividends (banks, telecoms, consumer goods).
I started with ₦1.5 million, diversifying among four to five companies. Since then, I’ve directed at least 20% of my monthly income to investments. The goal is long-term growth, so I reinvest most of my returns. I hardly sell.
What I earn now: My portfolio is currently worth ₦16m. With an average annual dividend yield of 10%, that’s ₦1.6m in returns. Of course, that’s a modest estimate. Some stocks do more than that, and the stock market has been on a bull run recently. So, I’m sure of making something. I also try to pick companies with stable earnings to minimise my risk and heavily lean on financial advice from professionals.
So far, my investment journey has been pretty interesting. It feels like earning money just for holding onto it.
*Names have been changed for the sake of anonymity.
NEXT READ: How This 27-Year-Old Built a Steady $500 Monthly Income from Investing in Real Estate
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