9 easy ways to make money in recession

By Chioma Obinagwam

The subsidy removal on petrol and the  harmonizition of the exchange rates is fueling untold hardship for Nigerians.


Financial intelligence expert, Dr. Sanmi Akindipe, popularly referred to as Dr. Successful Sanmi, revealed to Confiance News nine practical ways to make more money, especially in this difficult times.


1) Investing in Mutual Funds: Dr. Successful Sanmi advised on investing in mutual funds. “Take your money and put it in a mutual fund. They can pay you on a quarterly basis. You just need to give them 24 hours notice when you want to withdraw your money,” he stated.

Confiance News, however, gathered that the maturity period is dependent on the  period agreed by both parties. The maturity period of the investment could be quarterly or annually.
2) You can start auto-blogging:
He said that you could set up a blog and program it in such a way that articles will be written for you using plug-ins and Artificial Intelligence (AI).  Subsequently, you may apply for Google Adsense and start getting paid for ads places by Google on your blog.
3) Auto pilot YouTube channel:
“There are certain YouTube channels you can do auto pilot. The requirement for you to get paid is 1000 subscribers and 4000 watch hour. It can begin to bring money to you.
4) Writing books and selling them on Amazon

The financial intelligence expert also talked about making through books.

“You need to write thousands of books.
There are books that you don’t write, yet they make you money on Amazon,” he disclosed.

He added that you can write books through banko.ai and upload on Amazon.

5) Car wash business: Mr. Akindipe stated that one can make money by setting up a car wash business, which he categorized as cashflow business.
“You can decide to set-up a car wash business. You can decide to partner with a filling station. You can decide to set up a shop there so that when people come to wash their cars they will buy drinks and snacks from your store.
He noted that you do not necessarily need to pay the workers salary.
You simply get the space and the equipment, then arrange with guys that will do the washing on a certain percentage from each of the payment made on the washed cars.and ask the them to give you the rest. It could be shared at a 30-70 percent basis.
He noted that you can also add other businesses such as the Point Of Sales (POS) and make money from that too.
“You don’t have to necessarily be there. You can install a camera and monitor it from your office,” he advised.
6)Barbing saloon business: Another cashflow business is setting up a barbing saloon. You don’t have to pay salaries. You simply agree with the barbers to remit a certain amount to you weekly or monthly while they keep the remaining. That way, they are compelled to work had in order meet up with you own payment and their own payment too.
7) Relaxation business with gaming facilities:
You can make money by setting up a relaxation business and gaming facilities, so that as people come to relax they can also play games.
8) Transportation business:
Nigeria is blessed with agricultural produce. Most of the produce needs to be conveyed to the market or conveyed from the market to the stalls of the retailers. You can get a truck to do that for the traders and get paid. For instance, in Lagos State, southwestern Nigeria, there are markets notable for food stuff and other agricultural products. The likes of Mile 12 market, Iddo market, Oyingbo market could be your best bet if you are thinking of investing in this segment of transportation business.
“You can decide to get a van and attach yourself to any of the markets around. There are many markets around. When the economy is this way you can run this kind of business,” Dr. Successful Sanmi disclosed.
9) The future business: He noted that beyond the auto pilot business and the cashflow businesses, there is also the future business, which you can build by saving from what you got from the other categories of businesses mentioned earlier because the future business is usually long term and involves more money to start.
An example of such business is property business.
“However you’re doing the business is to make a standing order from your bank. When you do that, you will want to think of investing them in future businesses like property.
What you need to buy Property— you don’t need huge amount. What you need is courage. You can buy property buy paying in instalments,” Dr. Successful Sanmi advised.



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