Nigerian social media content creators using Meta’s platforms can now earn up to N150,000 for every 10,000 views on their Facebook content. This new earning opportunity comes from two monetization features introduced on July 1, 2024.
Meta announced that the new features, In-Stream Ads and Facebook Ads on Reels, will allow creators to make money by creating original videos and engaging with their community.
“Eligible creators in Nigeria and Ghana will be able to earn money for their video and reels content, with support in over 30 languages globally,” Meta stated.
In 2023, Facebook typically paid content creators between $10 to $19 for every 1,000 views, or about $0.01 to $0.02 per view. As of May 2023, Nigeria had nearly 41.6 million Facebook users, making up 18.5 percent of the population.
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How It All Started
In March, Meta’s President of Global Affairs, Sir Nick Clegg, met with Nigerian President Bola Tinubu in Abuja. During this meeting, Clegg promised that Meta would introduce features in June 2024 that would allow Nigerian creators to earn money through Facebook and Instagram.
Clegg thanked President Tinubu for an executive order that facilitated the landing of a Meta-backed deep-sea cable in Nigeria. President Tinubu encouraged Meta to invest more in Nigeria, especially in the youth.
Eligibility Criteria
To use the new monetization features, creators must comply with Facebook’s Partner Monetisation Policies and Content Monetisation Policies, and be at least 18 years old. For in-stream ads, creators need at least 5,000 followers. In-stream ads can play before, during, or after videos, and come in various forms such as Pre-roll, Mid-roll, Image, and Post-roll ads.
Facebook Ads on Reels will also allow creators to earn money based on the performance of their original reels while entertaining fans.
Meta’s Statement
Moon Baz, Global Partnerships Lead for Africa, Middle East, and Turkey at Meta, said, “Every day, we’re inspired by the incredible African creators who use Facebook to tell their stories, connect with others, and bring people together. This expansion will empower eligible creators in the vibrant creative industry across Nigeria and Ghana to earn money.”
How Payment Works
Facebook’s monetization system is based on an ad revenue sharing model, meaning creators earn a percentage of the revenue from ads displayed with their content. The exact amount varies based on factors like engagement, audience demographics, and ad bids. Other monetization programs include the Facebook Stars program, where fans can reward creators with virtual gifts that convert to real money.
Content Creators React
Many Nigerian content creators celebrated the news on Facebook. Praise Chidera Obiora, a story writer, posted, “Congratulations Nigeria. We are eligible for monetization. It won’t be limited to just Instagram.”
Faith Chibuzor, another content creator, expressed renewed interest in posting content, saying, “The news of Meta’s impending monetization of the country is a welcomed one as we have been making a case for Nigeria not to be sidelined.”
ICT expert Bashir Musa highlighted that this initiative would support the federal government’s job creation efforts, saying, “ICT is now the future of the economy, as we diversify from oil and gas. The monetization means content creators being paid for using Meta platforms to reach out to their audience.”