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How to earn forex from remote work opportunities

As the economy slumps further and high unemployment rate bites harder, Nigerians are finding new opportunities in working for overseas-based companies.

Remote work is a system where employees are allowed to perform their roles in organisations from locations other than corporate workspaces. Such locations could include employees’ homes, private offices or other shared spaces.

Remote work has been a practice for many years now. However, the 2020 global pandemic that rocked nations including Nigeria amplified the voice of this work culture.

The pandemic era threw many out of their jobs as various companies allowed their staff to work from home or other places.

COVID-19 has had social and economic implications, both positive and negative.

It has ruined several economies and exposed the incompetence of economic managers across nations. The World Economic Outlook noted that Nigeria’s GDP hit an all-time low with a decline of -6 per cent. The unemployment rate in the second quarter of 2020 was also at 27 per cent, according to the Nigerian Bureau of Statistics.

This later grew to 33.3 per cent in the fourth quarter of the same period, the NBS said.

Interestingly, since COVID, there seems to be a surge in demand for skilled human resources globally. And Nigeria boasts of the largest population of youth in the world, with a median age of 18.1 years, statistics say. This translates to an asset of human capital, with about 70 per cent of the population under 30, and 42 per cent under the age of 15.

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Especially with the impending global recession, local pressures of inflation, insecurity, naira devaluation, foreign reserve depletion, and a 33 per cent unemployment rate, more Nigerians are embracing the opportunities of remote work, especially with foreign companies.

These remote foreign roles have served as hedges in the face of Nigeria’s constant naira devaluation, local job insecurity and inflation pressures because employees earn in dollars. As more doors open for remote work with overseas-based companies, more Nigerians are grasping these opportunities with both hands to secure their financial future in the long term.

Tobi Amure, a 28-year-old crypto news writer for Investopedia and other Defi companies, is one of the many Nigerians who are enjoying the benefits of working for foreign companies from the confines of their homes.

Narrating his remote work experience which started in 2019 on Upwork,( a freelance app for employers and employees), Amure explained that all it took was an application and within one month he was drafted into the army of remote working.

“It didn’t take so long anyways via Upwork. I  think about a month or so after I set it up.”

While speaking on the work culture in the overseas-based company, Amure described it as “quite chilled.”

“My editor sends work via mail, and sometimes we have maybe a zoom meeting just to explain some things. There’s respect, nobody’s stepping on anybody’s toes and you have a deadline to meet and you meet it. So, there’s no pressure. It’s quite true.”