15 Legit Passive Income Ideas in Nigeria to Make Extra 500K Monthly

There a quite a number of passive income ideas in Nigeria that can generate another stream of income while keeping the 9–5 gig.

With passive income, you can make money even as you maintain your primary job, or if you’re able to successfully build a sustainable stream of passive income, you might sack your boss. Either way, a passive income offers you additional security.

To establish a successful passive income stream, two factors have to be readily available. These factors are time and money.

The amount of time and money invested will determine the readily amount of profit that can be earned extra to what you as an individual earns. On that note, we will be detailing 15 legit passive income ideas in Nigeria to help you make an extra 500k monthly.

Passive Income VS Active Income

Income is generally money paid for services rendered in sync with an agreed time frame. It could be monthly, weekly, daily, etc. However, the two basic types of income have been identified to be passive and active income.

Active Income

Money earned as a result of your direct contributions and effort can be termed active income. You must be fully involved, daily tasking yourself to engage in a system that should generate income for you.

Active income is very popular. In a country like Nigeria, despite the unemployment rate, active income when compared to passive income rules over 85% of the populace.

• Salary earned at the end of the month is an example of active income
• Income from freelancing is also another example of active income

Passive Income

This is money realized from assets in play. Passive income is the type of income that is generated with little or no particular active involvement from you, the recipient.

How Much Can I Make With Passive Income?

You can earn as much or as little passive income you desire. However, passive income is not a get-rich-quick scheme. You’ll need to do the required in order to build a passive income stream.

But the best part of it is that getting it right early permits you to sit back and enjoy the financial fortune for many years.

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