Considering the situation in Nigeria today, the traditional approach of focusing solely on academics may no longer be a guaranteed path to a worthwhile future. Balancing school with preparations for life after graduation has become increasingly challenging for students in Nigeria. Amidst these challenges, having a side hustle has emerged not only as a means of survival but also as a foundation for long-term success.
Below are 15 plausible reasons why every Nigerian student should get a side hustle.
1. Financial Independence
Financial restrictions can be very limiting for many students in Nigeria. Being dependent on parents for allowances can be crippling. A side hustle provides an avenue to earn your own money, allowing you to attend to your needs without relying on others. This independence enables you to make financial decisions that align with your personal goals, such as saving for future investments or simply enjoying a better quality of life while in school.
2. Skill Development
A side hustle is a proven way to develop practical life skills that are often not taught in academics. Whether it involves digital marketing, graphic design, tutoring, or the sale of products, you gain real-world experiences that help instill key competencies like negotiation, business management, customer service, and problem-solving skills.
3. Real-World Experience
While your degree provides you with theoretical knowledge, real-world experience is what most employers seek. A side hustle allows you to apply what you are learning in your courses to actual business scenarios. For example, if you are studying business administration, running a small business or consultancy service can deepen your understanding of market dynamics, financial management, and customer behavior, beyond what textbooks offer.
4. Networking Opportunities
Engaging in a side hustle gives you the opportunity to network outside your regular circle, which may be primarily academic. This could include interactions with clients, business associates, vendors, or other entrepreneurs. These new networking opportunities can lead to unexpected chances for growth and advancement. Networking is crucial in the Nigerian job market, and some of the people you meet through your side hustle may become important contacts or employers in the future.
5. Portfolio Building
For students in creative or technical fields, a portfolio of accumulated work is often required when seeking jobs or internships. A side hustle provides the ideal opportunity to build this portfolio. Whether you are into photography, writing, coding, or design, having a body of work that you have completed outside of your studies showcases your initiative and capability—qualities highly valued by employers.
6. Emergency Money Solution
Life is unpredictable, and emergencies can arise when you least expect them. Whether it’s a sudden health issue, an urgent family expense, or additional funds needed for school-related costs, having a side hustle provides a financial cushion to fall back on. This prevents you from going into debt or taking out loans, offering a sense of security and peace of mind.
7. Entrepreneurial Mindset
Running a side hustle encourages you to think like an entrepreneur. You learn how to identify opportunities, take calculated risks, and manage resources effectively. Developing an entrepreneurial mindset is essential in a country like Nigeria, where the job market is tight, and entrepreneurial ventures often offer the best chances for financial success and personal fulfillment.
8. Time Management
Balancing academics with a side hustle teaches you the art of time management. You learn to prioritize events in your life, set goals for yourself, and create schedules that allow you to succeed in both areas. Once you master time management as a student, it becomes a valuable skill that will help you navigate personal, professional, and social responsibilities throughout your life.
9. Diversified Income Source
In an economy as unpredictable as Nigeria’s, relying on a single source of income can be highly risky. A side hustle provides you with an alternate stream of income, reducing your financial vulnerability. Whether it’s a small business, freelancing, or selling products, having a diversified income source protects you against financial crises or economic downturns.
10. Boosts Confidence and Self-Esteem
Successfully running a side hustle can significantly boost your self-confidence and self-esteem. Achieving financial goals, receiving positive feedback from clients, or witnessing the growth of your business reinforces your sense of self-worth and capability. This confidence can extend to other areas of your life, including academics and social interactions.
11. Opportunity to Explore Passions
A side hustle allows you to pursue and monetize your passions. Whether your passion is in fashion, technology, writing, or photography, a side hustle provides an avenue to further your interests while still in school. This can be rewarding and may also lead to self-discovery in areas that align with your future career goals.
12. Preparation for the Future
The Nigerian job market is highly competitive, and having a side hustle can help you stand out when you graduate. Employers often prioritize candidates who can demonstrate practical experience and the ability to handle responsibilities. A side hustle prepares you for the challenges of the working world, giving you a head start in creating opportunities in a challenging job market.
13. Contribution to the Economy
By running a side hustle, you contribute to the Nigerian economy. Whether you are rendering a service, offering employment, or adding value through your business activities, your efforts play a role in the country’s economic growth. This sense of contribution can be a strong motivating factor and give you a greater sense of direction.
14. Building a Brand
In the digital age, having a personal brand is crucial. A side hustle helps you to create a brand around your interests, skills, or business. Whether you are known for unique fashion designs, informative blog posts, or tech solutions, building a brand while still on campus can set you up for future success—whether in business or in your professional career.
15. Long-Term Wealth Creation
A side hustle can serve as the cornerstone of long-term wealth creation. What starts as a small business or freelance gig can evolve into a full-time career or, at the very least, a significant source of income even after graduation. By reinvesting profits, scaling your business, or diversifying income streams, you can create wealth that benefits you well beyond your school days.
Conclusion
In a rapidly changing world, having a side hustle as a Nigerian student is more than just a way to earn extra money; it’s an investment in your future. The benefits of a side hustle are immense, from achieving financial independence to developing essential skills, building your network, and exploring your passions. Whether you aim to secure your financial future, build a brand, or gain real-world experience, starting a side hustle is a step in the right direction.
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