Have you ever wondered how to make money on Instagram in Nigeria? Well, look no further! In this article, we’ll dive into 6 of the best ways to monetise the platform — whether you’re a beginner or a veteran Instagrammer.
You can make money on Instagram by partnering with brands and businesses, collaborating with other content creators or selling directly to your audience. You can also offer exclusive content via subscriptions, collect tips or try social media management.
You can try any of these great options whether you have a personal Instagram account or run a business account. How do they work? Well, keep reading to find out!
How to make money on Instagram in Nigeria
According to Statista, Instagram had more than 1.21 billion active monthly users in 2021 — a whopping 28% of the planet’s internet users. As recently as May 2023, over 12.2 million of those users were in Nigeria — a number that accounts for 5.4% of the country’s current population.
These are all pretty fascinating figures, but what do they mean to you? Why should you be concerned?
Well, it’s simple! These numbers show that Mark Zuckerberg’s photo-sharing app is more than just a quirky website for beautiful people. It’s an extensive community with many exciting opportunities and ways to make money.
Here’s how to make money on Instagram in Nigeria:
- Partner with brands and businesses
- Collaborate with other content creators
- Sell directly to your Instagram audience
- Offer exclusive content via subscriptions
- Collect tips from your followers
- Become a social media manager
Don’t worry! There’s no need to feel overwhelmed. We’ll explain each of these methods in detail.
Of course, to get started, you’ll need an Instagram account, a reliable internet connection and an internet-enabled device.
1. Partner with brands and businesses
Brand collaboration is the leading way to make money on social media these days. In fact, we already shared how these online partnerships work in a different social media platform in our article on how to make money on Facebook. We have also highlighted the power of brand sponsorships on social media in our post on how to monetise TikTok in Nigeria.
But how can you make money on Instagram by collaborating with brands?
It’s pretty easy! You can start by joining brand affiliate programs or marketing a business’ products to your audience. Or you can try social media influencer marketing and get paid for pushing online marketing campaigns (like trending a hashtag or promoting a song).
The amount you’ll make from this method depends on your account’s popularity, but you can make a sizable sum if you have a significant following or a verified Instagram handle.
Fortunately, you can always access the full benefits of Instagram’s creator tools by converting to a professional account.
There’s also Branded Content — a way to make money by partnering with verified Instagram businesses directly on the platform. Unfortunately, this feature isn’t available in Nigeria for now.
Want to know more? Then check out our interview with Salem King to learn how he turned his Instagram account into an income stream using influencer partnerships and affiliate marketing.
2. Collaborate with other content creators
Collaborating with other content creators might not seem like a good idea for making money on Instagram, but it’s very profitable. We recommend identifying influencers in your niche with a strong following in Nigeria and partnering with them for shoutouts, joint content creation or even takeovers (you “take over” their account — or vice versa — for some time).
You can tap into their fanbase and grow your audience while making money from the collaboration.
But just how does the money-making part work?
It’s pretty easy! These influencers are usually part of social media marketing campaigns or big brand deals, and they may pay you to help push sponsored content.
Your account size might not even matter since bigger content creators — and even brands — will recruit smaller accounts (micro-influencers) during marketing campaigns.
However, you might need to contact these influencers to get the ball rolling and having a great-looking account will help. So invest in good content!
3. Sell directly to your Instagram audience
The internet is a huge marketplace, and social media platforms like Instagram can be successful online storefronts for Nigerian creators. However, you don’t have to be a video content creator to make money this way, and you can get in on the action if you have in-demand products or services.
And it’s easy! All you have to do is tell your followers about the products or services you’re offering (by making a post or running ads) and then wait for potential customers to reach out via Direct Messaging.
Afterwards, you can discuss the transaction details (like price and delivery schedule), receive payment and conclude your business.
Here are a few ideas if you’re considering selling directly to your Instagram audience:
- Sell physical products like bags, shoes and phone accessories.
- Sell services like professional captions, tutoring and career coaching.
- Sell digital products like ebooks, online courses and animation.
You can also use an e-commerce store to automate the “shopping” process when selling on Instagram.
We recommend Pocket by PiggyVest. Why? It’s the best online store provider in Nigeria!
It’s also pretty easy to set up, and you can seamlessly connect the platform to your Instagram account. Plus, you get features like escrow to avoid scams and fraud.
Need some inspiration? Then check out Israel The Creator’s story to see how he went from leveraging social media for art sales to landing juicy brand deals on Instagram and TikTok.
4. Offer exclusive content via subscriptions
You can also offer exclusive content via subscriptions on Instagram. You’ll need a service like Patreon, but you can charge your followers monthly (or even weekly) fees to view select posts.
These could include detailed how-to posts, behind-the-scenes content or whatever your audience wants to see.
Start by announcing unique material for interested followers. Then, create the content and keep it behind a paywall (using Patreon).
However, simply creating and paywalling content won’t do. You must promote the benefits of the subscription and employ pricing techniques like keeping monthly membership fees at a minimum.
This way, more fans see your work and are enticed to pay you for exclusive content.
5. Collect tips from your followers
Another way to make money on Instagram? Just ask for it! Many fans will donate money to you if they love your content or want to show appreciation for your work.
You can collect tips using any of these platforms:
- PocketApp by PiggyVest
- Buy Me a Coffee
- A bank account
You’ll need to include the payment link or info in your Instagram bio or as a caption on a post.
6. Become a social media manager
Social media management is the best option if you want to make money on Instagram without followers. It’s an especially great choice if you understand how Instagram works and know much about social media marketing.
As a social media manager, you’ll be tasked with executing a company’s content strategy on Instagram — often studying engagement statistics and creating online promotions.
Most of your job might involve engaging customers and drafting content calendars, but you can make good money and work for top brands and creators if you’re good.
Tips for making money on Instagram in Nigeria
Instagram has always been a viral sensation — especially among young people living in Nigeria. And who doesn’t love that dopamine rush when your perfect Instagram post gets the love (and likes) it deserves? Still, you’ll need more than great angles and an iPhone to make lots of money on Instagram.
Here are a few great tips to follow if you want to make money on Instagram in Nigeria:
- Find a profitable niche that fits your hobbies and expertise, or pick one that resonates with your audience. For example, you can follow Alma Asinobi’s footsteps and create travel content or try other ideas like fashion, food and fitness. It’s really up to you!
- Always create high-quality content. You might not necessarily need an iPhone for content creation, but investing in excellent equipment (like ring lights and gimbals) can make your posts look better. You can also incorporate cool editing styles and colour palettes to ensure your account stands out.
- Talk to your followers. Engage with your audience by replying to comments, crafting interesting captions and starting a conversation. Creating a sincere relationship with your Instagram followers can help build loyalty and trust.
- Use Instagram Reels, Stories and Lives to your advantage. You can create behind-the-scenes content, showcase your personality and post tutorials. There are no rules, really — just do what works for you and your audience!
- Take advantage of sounds and hashtags. We recommend using trending sounds and hashtags to ensure your content reaches a wider audience.
- Post consistently to keep your audience engaged and attract new followers. You don’t necessarily need to post every day, but we recommend using the insights tool in your professional account to see the best times to upload on Instagram.
- Leverage giveaways and run online contests. These can boost your engagement numbers and follower count on Instagram.
- Review your Instagram Insights frequently to gain insight into your audience’s habits and demographics. You can use this information to create better content and posting schedules. It’s also a great way to refine your content strategy and can help create content that performs better for longer.
These tips are solid and will also help you grow your Instagram account.
You can trust us! We used some of these ideas and built the PiggyVest Instagram account to over 215,000 followers (and counting).
While it might seem like a lot of work, the methods we shared in this article are a surefire way to make money on the platform. After all, it’s almost like every content creator and model on Instagram is making millions off stuff you’re already doing for free.
Making money is, of course, a small part of the journey to wealth creation. We recommend saving and investing your funds to make even more money in the long run. Luckily, you can use any of the six plans we offer at PiggyVest and enjoy interest rates of up to 35% annually.
The articles on the PiggyVest Blog are developed by seasoned writers who use original sources like authoritative websites, news articles and academic journals to perform in-depth research. An experienced editor fact-checks every piece before it is published to ensure you are always reading accurate, up-to-date and balanced content.
- Brandeis University: Instagram Takeover
- Business Insider: A beginner's guide to Instagram, the wildly popular photo-sharing app with over a billion users
- The World Bank: Population, total - Nigeria
- Statista: Distribution of Instagram users in Nigeria as of May 2023, by age group
- Statista: Number of Instagram users in Nigeria from 2018 to 2027
- Statista: Number of internet and social media users worldwide as of April 2023
- Statista: Number of Instagram users worldwide from 2020 to 2025
- Instagram: Monetise on Instagram