Last Updated on 01/05/2025 by Rasheed Busari
The current economic situation in Nigeria, worsened by persistent high inflation, is eating deep into everyone’s disposable income, necessitating the need for a side hustle to boost monthly earnings. Whatever you earn from your main job is hardly enough to sustain yourself, support your family, and lend a hand to friends. The reality is clear: income from one job is no longer enough to maintain a home or family.
Ironically, the tough economy has reshaped our societal class structure. What used to be upper, middle, and lower classes is slowly eroding into just two visible groups: the upper class and the struggling lower class. Nigeria is gradually mirroring many European nations where survival often depends on juggling multiple jobs.
According to recent data from the Central Bank of Nigeria (CBN), the country’s all-item inflation rate as of March 2025 stands at 33.10%. That means every naira you hold, whether in your wallet or the bank, is losing value at a staggering rate of over 33%. If you’re not earning more, saving smarter, or investing wisely, you’re simply falling behind.
In such uncertain times, the smartest move you can make is to develop additional sources of income. And one of the most effective ways to do that is by starting a side hustle. A side hustle is any business or gig you can run alongside your main job, either passively or part-time, to earn extra money or pursue a passion.
Here are some profitable side hustle ideas you can start today while keeping your main job:
“The only impossible journey is one you never begin. Nothing is impossible, and you can achieve anything as long as you set your mind to it and don’t give up”
| Side Hustle | Why You Should Do It | Risks Involved | Control Measures | Target Audience | Estimated Monthly Earnings |
|---|---|---|---|---|---|
| Laundry Business | Almost every working class Nigerian needs laundry for office wear, suits, and weekend party clothes. Demand is high weekly. | • Mix-up in clothes • Damage from ironing or machine wash | • Use customer ID tags for tracking • Hire experienced staff | • Colleagues • Family and friends • Neighborhood • Church/mosque members | ₦200,000 – ₦1,000,000 |
| House Cleaning Agency | Most workers are too busy to clean. Weekends are for rest or social events, so they outsource home cleaning. | • Theft • Burglary • Privacy invasion | • Keep valuables under lock • Restrict cleaner movement • Hide sensitive documents | • Neighborhood • Busy professionals | ₦100,000 – ₦500,000 |
| Ride-Hailing (Uber, Bolt, etc.) | Turn your idle car into cash. Hire a driver while you’re at work to generate daily income. | • Car theft • Accidents • Maintenance costs • Harassment from law enforcement | • Register fully with platforms • Use only verified drivers • Avoid offline passengers • Obey traffic laws | • General public | ₦100,000 – ₦500,000 |
| Logistics/Delivery Service | With more online vendors, there’s a growing demand for fast and reliable delivery services. | • Product mishandling • Theft • Product mix-ups • Government task force issues | • Use shock-proof packaging • Proper labeling • Get all legal permits | • Online vendors • Restaurants • Offices | ₦100,000 – ₦500,000 |
| Dropshipping | Start an e-commerce store without inventory. Just link buyers to suppliers and earn on every sale. | • Product quality mismatch • Out-of-stock issues • Payment delays | • Confirm stock before listing • Register with trusted suppliers • Always collect payment upfront | • Depends on your niche | ₦200,000 – ₦1,000,000 |
| Agency Business | Connect clients to service providers and earn a commission. Perfect for networking professionals. | • Job distraction • Poor focus at work | • Limit it to break/lunch hours • Automate where possible | • Anyone depending on niche | ₦200,000 – ₦1,000,000 |
| Online Business (Freelancing, Blogging, Content Writing) | No capital required. Use your skills to earn online with flexibility to scale up. | • Time-consuming • Work-life balance challenges | • Schedule smartly • Start small • Outsource where needed | • Online audience | ₦200,000 – ₦1,000,000 |
The truth is, to survive today’s economic reality in Nigeria, a single income is no longer enough. You need to be intentional about creating multiple income streams, especially through a side hustle. Find what aligns with your skills, passion, or schedule and start from there.
For more tips on Personal Finance and Financial Literacy, buy Personal Finance: Smart Money Sense
This book is a comprehensive guide written in a simple language and easy to understand, with a call to action on personal finance and financial literacy to give you the knowledge and skills needed for wealth building, financial security, financial freedom, and financial independence in this ever dynamic world.
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