How Much Does It Cost to Run an Online Business in Nigeria?

Some people think doing business online in Nigeria shouldn’t cost a dime. After all, the internet is free for everyone, right? The truth is, it’s NOT.

At least, you’ve got to subscribe to MTN, Airtel, Etisalat’s data bundle or use a local cyber cafe, which is not free.

Not only that, they burn a big hole in your pocket and give you internet connection headaches too.

Ever since I started my online business back in 2010, I’ve come to realize that if you want people to take your business seriously, you’ve got to spend money on premium online products.

From paying to design a custom-made website for your brand, to telling the world how awesome your products/services are via online advertising to nurturing your leads into customers on auto-pilot.

All these cost money, otherwise you’re deceiving yourself.

It’s just like paying tax to Caesar. So you can do your business without a hitch.

However, if you are starting out, you start with the freemium plans and advertising coupons to test the waters until the money start rolling in.

How Much Does It Cost To Run An Online Business in Nigeria?
I’m going to give you a breakdown cost of important internet services that you may spend money, on monthly and yearly.
Please note that I converted the dollar to naira at N170 per dollar.
It could be higher or lower, depending on the rise and fall of the foreign exchange market in Nigeria.
Also, your business expenses could be lower or higher than mine.

Here we go:

YEARLY SUBSCRIPTIONS:
Domain & Web hosting at Syskay = N6,000 per year.
Premium WordPress Website Theme at Themeforest = N7,650 (one-time payment)

MONTHLY SUBSCRIPTIONS:
Mobile Internet Subscription at Etisalat = N4,000 per month (N48,000 per year).
Home/Office Internet Subscription at Swift = N10,000 per month (N120,000 per year)
Bufferapp = N1,700 per month (N20,400 per year)
MailChimp = N2,550 per month (N30,600 per year).
Facebook ads = N8,500 per month (N102,000 per year).
Google AdWords = N8,500 per month (N102,000 per year)
Adroll Remarketing = N8,500 per month (N102,000 per year).

Total Monthly Cost: N43,750
Total Yearly Cost: N538,650

Remember, this is not the ultimate expense list. Yours might be lower or higher, depending on the industry you’re operating. It’s just an eye-opener.

Your Turn:
How much do you spend in running your online business? Do you get good return on your investment? Sound off in the comments below.