15 Best Ways to Invest 40k and Earn Monthly in Nigeria

Best Ways to Invest 40k in Nigeria
Best Ways to Invest 40k in Nigeria

Looking for the best ways to invest 40k in Nigeria and enjoy monthly returns? You’re not alone! Investing can seem daunting, especially when you’re not sure where to put your hard-earned money. 

But fear not! Even with 40k, several investment opportunities in Nigeria can start you on a journey towards financial independence. This amount might not sound like a lot, but with smart choices and an understanding of the local market, it can grow substantially. 

From agriculture to high-yield savings accounts, and small-scale business ventures, we’ll explore practical and accessible investment options that can give you a good return on your investment. 

Whether you’re a novice or have some experience, this guide will help you make an informed decision to make your money work for you. Let’s dive into the best ways to turn your 40k into a steady stream of monthly income.

Quick Summary

  • Investing transcends mere wealth accumulation—it’s a calculated pursuit designed to fulfill your financial goals and bolster your economic security. At the heart of a successful investment journey lies the crucial step of defining and stating your financial aspirations.
  • Successful investing requires a well-thought-out plan, an understanding of one’s risk tolerance, and a long-term perspective. Diversifying investments, regularly reviewing and adjusting investment strategies, and staying informed about financial markets are key to navigating the complexities of investing and achieving financial goals.
  • In Nigeria’s lively economic environment, cryptocurrency trading has surfaced as a vibrant investment channel. With an initial investment of just 40k, you can set off on an exhilarating journey through the ever-changing domain of cryptocurrency.

Is Investing Right for You?

What’s the point of having 40k sitting under your mattress when you could be turning it into millions on the stock market (as a retail investor) or through real estate?

The following variables can help you choose the best way to invest 40k.

  • Your goals – What amount of money do you hope to make with your $40,000? If you want to continuously accumulate money, you should invest your savings in an account or a stock and share ISA.
  • Timeframe – Again, how long you have to invest should influence the type of investment that is best for you. A stocks and shares ISA is a long-term investment, whereas a bonds EFT is ideal for short-term investing.
  • Risk Tolerance – How much danger do you think you can take? Your risk tolerance will influence the type of investment you should make.
  • Background – If you’ve been investing on a modest income and have made money, how will you scale this up? Are you prepared to invest large sums with the risk of losing money?

Take time to read through TransferXO’s list of – 21 Legit Online Investment Platforms in Nigeria That Pay Daily

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Top 15 Best Ways to Invest 40k and Earn Monthly in Nigeria

So you’ve finally saved 40k. Excellent job!

Instead of putting it in your checking account and collecting 0.01% interest, consider putting it to work to begin developing real wealth.

Do you want to increase your money while minimizing risk? You’ve arrived at the correct location.

We’ve compiled a list of 40k investment ideas that will allow you to diversify your portfolio, increase your net worth, and spread your risk over several asset categories. If you’re looking where to invest 40k, consider these options:

1. Cryptocurrency Investment

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Cryptocurrency is more popular than ever, but is it a sound investment? While the cryptocurrency market is riddled with fraud and unethical actors, there are still a few reliable coins to invest in, such as Bitcoin and Ethereum.

Bitcoin is the initial cryptocurrency, and it is currently seen by many banks and hedge funds as a form of “digital gold.” The price has declined dramatically from its all-time peak in 2021, which may make this a better time to begin investing.

However, as a speculative investment, you should never put money in Bitcoin that you cannot afford to lose. If you wish to invest your 40k in cryptocurrency to earn monthly, you will need a broker. TransferXO has established itself as one of the leading cryptocurrency platforms available.

The platform not only provides real-time insights and access to crypto market research and news, but it also includes personalized risk management tools and a high-quality virtual portfolio for testing strategies before putting real money at risk.

TransferXO is a unique platform in that it allows crypto newcomers to quickly track and evaluate currencies while retaining more advanced capabilities for seasoned investors. TransferXO offers all of the coins you’re likely to want to exchange, from the big names like BTC and ETH to the newcomers.

Check Out the TransferXO’s list of – 15 Best Crypto Investment Platforms in Nigeria

2. High-Yield Savings

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Holding 40k in liquid assets is a savvy financial move, yet parking that sum in a standard bank account is less advisable due to their notoriously low-interest rates, often below 1%. This essentially means your money isn’t working as hard for you as it could be. 

Alternatively, opting for high-yield savings accounts can significantly alter this landscape, offering you a more lucrative avenue for your cash reserves with minimal risk. Currently, some of the best high-yield savings accounts have best interest rates of at least 4.50%. 

While it’s true that interest rates are subject to fluctuation, the current economic climate suggests that these higher rates could be here to stay for the foreseeable future. TransferXO is a platform that not only stands out for its robust security and user-friendly interface but also shines in offering one of the highest interest rates available to its eligible account holders. 

By choosing TransferXO for your high-yield savings needs, you’re not just ensuring your money grows at a compelling rate; you’re also aligning with a service known for its dedication to customer satisfaction and financial empowerment.

Check Out the list of – Best Stocks to Invest in 2024 for Short Term in Nigeria

3. Recharge Cards Business

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The recharge cards business is a popular way to invest and make a monthly income in Nigeria. Almost everyone in Nigeria owns a phone and needs to buy recharge cards to make calls, send texts, or use the internet. 

You can start by buying these recharge cards in bulk at a lower price from suppliers and then selling them at a slight markup to customers. It doesn’t require a lot of space to start; you can even do it from the corner of your living room or a small kiosk. 

The demand is consistently high, making it a reliable source of income. Plus, as you grow, you can offer more services like data bundles and utility payments, expanding your earning potential.

Don’t miss out to read – Where to Invest Money in Nigeria With Less Risk

4. POS

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POS, which stands for Point of Sale, is a booming business in many parts of Nigeria, especially in areas with limited access to banks and ATMs. It involves handling cash transactions for people in your community. 

You get a POS machine from a bank or financial institution, which you use to offer services like cash withdrawals, transfers, bill payments, and airtime recharge. Each transaction earns you a commission. This business thrives on trust and convenience, attracting regular customers. 

Starting doesn’t require much – just a strategic location, a small secure shop, and a bit of marketing to let people know what you offer. It’s a great way to turn your 40k investment into a steady monthly income through a service that’s in high demand.

You Should Also Read Through Best Ways to Invest 500k and Earn Monthly in Nigeria

5. Candle Production Business 

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Diving into the candle production business with 40k in Nigeria can be quite the venture. It’s about creating candles of various shapes, sizes, and scents, which are in demand for various occasions like birthdays, romantic dinners, or simply as a way to relax at home. 

To get started, you’ll need basic equipment like wax, molds, wicks, and scents, which your initial investment can cover. The beauty of this business lies in its flexibility. You can start from home, sell your creations at local markets or through social media, and eventually grow your brand. 

The demand for unique and handcrafted candles is rising, meaning there’s a good chance to earn a steady monthly income as you captivate your customers with your creations.

Take time to also read: Best Ways to Invest 5k and Earn Monthly in Nigeria

6. Pastries


Starting a pastry business in Nigeria with 40k can lead to a sweet path of earning monthly. Pastries, ranging from cakes to bread and other delightful treats, are always in demand for daily snacks, special occasions, and as gifts. Your initial investment will cover basic baking tools and ingredients to whip up these delicious offerings. 

The key to success lies in quality and uniqueness, finding that special something that makes your pastries stand out. You could specialize in traditional Nigerian pastries or experiment with global flavors. 

Marketing your business through social media and local events can attract a broad customer base. With hard work, creativity, and a knack for baking, you can turn this venture into a profitable way to earn a monthly income, bringing joy and sweetness to people’s lives.

Don’t fail to also read: How to Invest 20k and Earn Daily in Nigeria with 9 Smart Ways

7. Popcorn Production Business

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Popcorn is a beloved snack in Nigeria, making the popcorn production business a lucrative opportunity. With an initial investment of 40k, you can start by purchasing quality corn kernels and a popcorn making machine. 

The key to success is offering a variety of flavors and packaging options to cater to different taste preferences. 

Location also plays a significant role, so consider setting up near busy areas like schools, markets, and cinemas where foot traffic is high. You can sell directly to consumers or supply to retailers. 

As your business grows, consider branding and marketing strategies to increase visibility. With dedication, you can enjoy a steady monthly income from your popcorn business.

Also, you can read through Best Ways to Invest 1000 Naira and Earn Daily in Nigeria

8. Fish Fingerlings Production Business

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Starting a fish fingerlings production business is another great way to invest 40k in Nigeria, particularly given the country’s growing demand for fish. This venture involves breeding fish, especially popular varieties like Tilapia and Catfish, and selling the young fish (fingerlings) to fish farmers for rearing. 

To begin, you’ll need to invest in quality broodstock, a secure fish pond, and fish feed. Knowledge about fish breeding and management is crucial, so consider getting some training. This business requires patience as it takes time for fingerlings to grow to a sellable size. 

However, with a steadily increasing demand for fish in the Nigerian market, this business offers a promising return on investment through regular sales to fish farmers looking to stock their ponds.

Those who read this also read: 15 Best Ways to Invest 300k and Earn Monthly in Nigeria

9. E-commerce Business

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Starting an e-commerce business is a popular way to invest in Nigeria. It involves setting up an online store where you can sell products to people all over the country or even globally. With ₦40,000, you can begin by sourcing affordable goods or creating something unique to sell. 

This could be anything from clothes, gadgets, or even local crafts. The key is to find products in demand and market them well. You can utilize social media platforms to reach your target audience effectively. 

With the right strategy, your e-commerce business can start generating monthly income, and as your store grows, so does your profit. Remember, customer satisfaction and speedy delivery can turn first-time buyers into loyal customers.

As an online vendor, you should also read: 15 Best Ways to Invest 250k and Earn Monthly in Nigeria

10. Digital Marketing Services

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With ₦40,000, you can start a digital marketing service in Nigeria. This involves helping businesses promote their products or services online. Since most companies are looking to increase their online presence, there’s a high demand for digital marketing expertise. 

Your service could include managing social media accounts, search engine optimization (SEO), email marketing, or running online ads. To get started, you might need to take a few courses to polish your skills and get familiar with the tools of the trade. However, most of this investment goes towards marketing your own services. 

Once you land your first few clients and show off your marketing prowess, word-of-mouth referrals can quickly increase your client base, allowing you to earn a substantial monthly income.

Don’t fail to read: 15 Best Ways to Invest 15k and Earn Monthly in Nigeria

11. Catering Services

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Do you love cooking and often get compliments on your food? If yes, then starting a catering service could be a fantastic way to invest your 40k and see regular income each month. 

With events like weddings, birthdays, and corporate meetings always happening around us, there’s a constant demand for good food. Your initial investment could go towards purchasing cooking utensils, ingredients, and perhaps some advertising. 

Once you’ve made a name for yourself with delicious dishes, word-of-mouth will likely bring in more orders. Plus, there’s the satisfaction of making people happy with your cooking. The key to success? Exceptional taste, reliability, and great customer service.

Those who read this also read: 15 Best Apps to Invest Money in Nigeria

12. Oil Perfume Business 

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Diving into the oil perfume business in Nigeria is like hitting a sweet spot in a market that loves to smell good. You don’t need a huge store; you can start right from your home! Oil perfumes are concentrated, long-lasting, and often seen as a luxurious alternative to regular sprays. 

Many Nigerians are leaning towards these, especially those made from natural ingredients, for their personal use and as gifts. Starting this business means you can import exotic scents or even create your own unique blends. 

With a modest initial investment of around 40k, you can stock up on a variety of scents, attractive packaging, and start spreading the word. It’s a business that thrives on referrals, so your focus on quality and customer service can really make a difference. Soon, you could have a stream of orders providing you with a steady monthly income.

You can also read this article: Best Ways to Invest 20k and Earn Monthly in Nigeria

13. Supply and Distribution of Eggs


Getting into the supply and distribution of eggs in Nigeria is a great idea for anyone looking to earn a consistent monthly income. Why? Because eggs are a staple food item. They’re in high demand all year round for both household consumption and by businesses like bakeries and restaurants. 

With an investment of around 40k, you can kick-start this venture by partnering with reliable farms to get your stock at a lower rate, then distribute to retailers and individual customers. The beauty of this business is in its simplicity and the ever-present demand. 

Plus, it’s scalable; you can start small and grow over time, increasing your delivery routes and customer base. Proper planning regarding transportation and storage will keep your eggs fresh and your customers happy, ensuring a steady flow of income each month.

You Should Also Check Out: 15 Best Ways to Invest 2k and Earn Monthly in Nigeria

14. Blogging

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Blogging is a cool way you can use your 40k to start making money every month. It’s like having your own small online magazine or journal. You pick a topic you love, maybe fashion, tech, cooking, or anything else, and start writing articles about it. 

Your initial money goes into setting up a nice-looking website and maybe a few tools to help you write better. As people start reading your blog, you can make money through ads, selling products, or even getting paid by brands who want you to mention them. 

It’s important to keep writing interesting stuff so more people want to read your blog. It takes a bit of time to grow, but once it does, you can earn a good amount every month.

15. Small-scale Farming 

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Small-scale farming is another smart way to use 40k for a good monthly income. It doesn’t mean you need a huge farm. You can start with a small piece of land or even your backyard. Choose easy-to-grow crops like vegetables or plants that are in demand locally. 

Your initial investment goes into buying seeds, maybe some equipment, and taking care of the plants. As your crops grow, you can sell them in your local market or even directly to customers. 

People love fresh produce! With good care and smart choices, your little farm can start bringing in steady money every month. Plus, you get the joy of growing your own food. It’s work, sure, but it can be really rewarding.

Don’t miss out to read – Best Ways to Invest 20k for Short Term in Nigeria

Things to Consider Before Investing in Nigeria

Now that you know some of the best ways to invest 40k, here are a few suggestions to keep in mind along the process:

1. Risk tolerance

Recognize that every investment carries some risk. Knowing your tolerance level can help you determine the best investment strategy for you.

2. Financial Goals

If you want to save for the future or retire, opt for long-term investments. Knowing your financial goals will allow you to create investment plans that are in line with them.

3. Economy

Nigeria is not the easiest country to invest money in, especially given the state of the economy, inflation, and exchange rate swings. As a result, you must do background checks and invest in necessary companies and commodities. Don’t just jump into an investment because someone says it’s profitable.

4. Maintain a steady source of income

Before you begin exploring investment opportunities in this country, be sure you have a consistent source of income. Except for very low-risk to risk-free investments, you should only invest money you are willing to risk, not your entire savings.

5. Diversity

Diversifying your investments is one of the most effective ways to mitigate the risks involved with investing. Always remember to only put some of your eggs in a single basket.

Read Also – Investment With Monthly Returns in Nigeria | TransferXO Guide

Where to Invest Your 40k For Monthly Returns 

In today’s financial climate, finding the right investment opportunity that offers substantial and consistent monthly returns is like discovering a hidden gem. Many investors with a capital of 40k are on the lookout for investment avenues that not only safeguard their principal amount but also ensure a steady income. 

Among the plethora of platforms and opportunities available, TransferXO stands out as a superior investment platform that caters to the diverse needs of modern investors. Here’s a deeper look at how TransferXO can be your ally in achieving your financial goals, alongside the variety of services it offers.

Why Choose TransferXO?

TransferXO is not your ordinary investment platform. It transcends traditional investment options by offering a robust and secure environment where your 40k can grow steadily, providing you with a reliable source of monthly income.

The platform has been meticulously designed to cater to both novice and experienced investors, making it an ideal choice for anyone looking to optimize their investment.

Comprehensive Investment Solutions

At its core, TransferXO provides users with access to a wide array of investment options.

Whether you are inclined towards stocks, bonds, or more sophisticated assets like cryptocurrencies, TransferXO offers a diverse portfolio that can be tailored to meet your individual risk tolerance and investment goals.

This flexibility ensures that you can strategically invest your 40k to achieve the best possible monthly returns.

Beyond Investments – A Holistic Financial Ecosystem

What sets TransferXO apart is its commitment to offering a holistic financial ecosystem that goes beyond mere investments. Here’s a look at some of the auxiliary services that make TransferXO a standout platform:

  • Bill Payment

TransferXO simplifies your financial life by providing an easy-to-use interface for managing and paying your bills. This seamless integration of financial chores into one platform enhances convenience and efficiency.

  • Cross Border Payment

For investors who operate on a global scale, TransferXO’s cross-border payment solution is invaluable. It enables you to send and receive money internationally without the exorbitant fees and the convoluted process often associated with traditional banks.

  • Gift Cards

As a bonus, TransferXO users can purchase and manage gift cards directly through the platform. Whether it’s for personal use or as a gift, this feature adds an extra layer of utility to your financial management toolkit.

Maximizing Monthly Returns on Your 40k Investment

Investing your 40k through TransferXO offers a strategic pathway to generating steady monthly income. By leveraging the platform’s diverse investment portfolio, coupled with its value-added services like high-yield savings and efficient cross-border payments, you position yourself for optimal financial growth.

Frequently Asked Questions

Is investing 40k enough to generate monthly income?

Yes, while it may not yield vast amounts, prudent investments can generate a steady monthly income over time.

Are cryptocurrencies a good investment?

While potentially lucrative, cryptocurrencies are highly volatile. Only invest money you can afford to lose and ensure you understand the market well.

What are the dangers involved in investing in Nigeria?

Like with any investment, there are risks such as economic fluctuations, market volatility, and political instability. It’s crucial to research thoroughly, consider diversifying your investments to spread risk, and possibly consult a financial advisor.

How do I ensure my investment is safe?

Investing through established, reputable platforms or financial institutions and avoiding offers that seem too good to be true are good practices. Also, diversifying your investments can reduce risk. Stay informed about economic trends and regulations affecting your investments.


Investing 40k in Nigeria to earn monthly income can take several promising forms. The key is to choose options that align with your financial goals, risk tolerance, and investment horizon. 

Research, expert advice, and a clear strategy are paramount to success. By diversifying your investments and staying informed, you can make your money work for you and achieve a steady income stream in Nigeria’s dynamic economic landscape.

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