Seventy-eight percent of Lagosians earn less than ₦100k monthly according to the State of the Employed Report by PaidHR, an HR enterprise software provider. Based on the responses of 1,500 respondents, the report reflects the financial conditions of people working in the city, with workers aged 20 to 30 years earning a median salary between ₦49k and ₦73k.
This starkly contrasts the narrative online about how much an average Nigerian should be paid to raise a family in the country. The report doesn’t support the argument that an average Nigerian would typically earn between 300k and 800k monthly.
It also reveals that most of these workers live above their primary means of income, and people barely have enough to save and invest.
Single respondents spend slightly over 100% of their median pay on basic needs, while divorced individuals are spending twice as much.
Meanwhile, comments from employers show that although they mean well for their workers, the volatile economic situation, worsened by the inflation rate, continually ensures that their efforts to increase pay barely move the needle.
As inferred from a previous article, companies are also struggling to survive economic pressure while avoiding layoffs, and are thus distracted from making life easier for their employees.
It, therefore, appears that a single income is no longer enough for many individuals. Enter side hustles, which are fast becoming a necessity rather than just a trend. They are becoming more accessible with the availability of various tech platforms and startups.
Considering the flexibility they offer, monetising a hobby or leveraging an existing skill to earn extra cash has never been easier.
Before you choose a side hustle
Many of these platforms’ side hustles have low barriers to entry. The least you’ll need is an internet-enabled device, while others may require significant capital. Here are some things to consider before choosing a side hustle.
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Know your hobby/skill/interest
Choosing a side hustle that aligns with what you enjoy increases the chances of success and reduces your chances of getting overwhelmed while juggling other jobs.
Set realistic targets
Determine how much time you can dedicate to your side hustle and how much you can realistically earn from it. This will help you sustain motivation, track progress, and know when it’s no longer worth the investment.
Investment in tools
Depending on the side hustle, you might need to purchase or rent the necessary tools. Additional training to enhance your skills may also be necessary.
Be ready to market yourself
Most side hustles require self-promotion on social media or word-of-mouth marketing to reach potential clients.
Organisation is important
Don’t consider a side hustle if you can’t balance it with your primary job. Good time management is essential, and all your commitments must be properly tracked to avoid disappointing clients or your employer.
Decide which platform to use
Research platforms that make it possible to do what you've chosen as a side gig. Understand their requirements and benefits, and decide if you're comfortable with the commissions they demand. Ensure the platform suits your lifestyle.
Side hustles and supporting tech platforms
Ride-hailing driver
If you have a car, you can sign up as a driver on ride-hailing platforms like Uber, Bolt, or inDrive. These are essential in a city like Lagos.
The flexibility allows you to work during your free hours, though you’ll need to consider expenses for things like fuel, vehicle maintenance, and the platform’s commission.
If you’re comfortable with your potential earnings after these calculations, download the app of your choice and sign up as a driver. The onboarding process typically involves providing personal details, uploading a valid driver’s licence, and submitting vehicle documents for verification.
The platforms may also require you to visit their centres for assessment or pass a background check. Once all documents are approved and your account is activated, you can start accepting ride requests.
Dispatch rider
eCommerce and food and grocery delivery services have increased the need for the services dispatch or delivery riders in cities like Lagos, making it a viable side hustle.
Platforms like Glovo and Chowdeck support these services. In 2023, some Chowdeck riders disclosed to Rest of World that they earn between 400k and 600k monthly, excluding other benefits the platform provides.
This side hustle requires you to own a motorcycle, bicycle, or car and have basic navigation skills, especially for Lagos traffic.
To get started, you’ll need to sign up on these platforms by filling out an online form with personal and contact information, providing motorcycle documents, and a copy of your valid driver’s licence. After document verification, you may need to attend training sessions that cover safety guidelines and delivery protocols.
Selling digital products
If you have a knack for creating digital products such as e-books or online courses, platforms like Selar allow you to set up a digital store for your products and reach a wider audience.
This side hustle requires less investment compared to others, as it allows you to leverage the internet to generate passive income.
The first step is to create an account on Selar. Once registered, you can set up your digital store by providing basic details like your store name, product descriptions, and pricing. You’ll need to upload the digital products you want to sell.
Selar offers various payment options, and you can link your bank account to receive earnings. After setting up your store, it’s a good idea to promote your products on social media, on the platform, or other platforms to attract buyers.
Home cleaning services
In a city where people are willing to pay for convenience due to their busy schedules, there’s a growing industry for homemaking services.
If you have an eye for detail and enjoy cleaning, this could be a profitable side hustle. A platform like Edenlife can connect you with clients who need such services.
To offer home cleaning services on Edenlife, apply for any of their open cleaner roles. You’ll need to provide personal information and any relevant experience in home cleaning.
Edenlife may require a background check and references to ensure reliability and trustworthiness. After completing the necessary verifications and undergoing training, you’ll be added to a pool of cleaners.
You’ll then be contacted with cleaning requests. The platform handles scheduling, supervision, and payments.
Virtual assistant (VA)
This side hustle is ideal for individuals with strong organisational skills and reliable Internet. The demand for virtual assistants is on the rise as more companies and professionals outsource administrative tasks.
Freelancing platforms like Terawork provide these opportunities to work remotely, offering services including email management, administrative support, content creation, and customer support.
To get started, sign up on the website/app. You can also register with VA service providers like Prime Virtual Assistant. You’ll need to provide details about your work experience, skills, and areas of expertise.
The platform may require you to complete an assessment or provide references. After your profile is reviewed and approved, you’ll be able to apply for virtual assistant positions listed on the platform and offer your services to meet clients’ needs.
