FACEBOOK MONETIZATION FOR NIGERIANS. (UPDATE)

Summary

In this video, the speaker announces that Facebook will begin monetizing Nigerian users by June 2024. They explain the criteria for monetization, including having 5,000 followers, 60,000 watch minutes, and five active videos. The speaker also highlights the importance of adhering to Facebook's guidelines, avoiding violations, and obtaining essential documents like a government-issued ID and tax number. They emphasize the need to start creating and posting content now to be ready for monetization and explain how Facebook ad revenue works, encouraging viewers to prepare in advance.

Takeaways

• 😀 Facebook will start monetizing Nigerian pages by June 2024.
• 📋 Before monetization, ensure your page has no violations and adheres to Facebook's community guidelines.
• 👥 Pages need at least 5,000 followers and 60,000 watch minutes to be eligible for monetization.
• 📹 You must have at least five active videos on your page for eligibility.
• 📆 It's recommended to post regularly—ideally two times a day or five times a week.
• ❌ Remove any content that violates Facebook’s guidelines to avoid delays in monetization.
• 🛂 To complete the monetization process, you’ll need a government-issued ID (driver’s license, national ID, or passport) and a tax identification number (TIN).
• 🏛️ A registered company with a Corporate Affairs Commission (CAC) certificate is required to get your TIN.
• 💳 Facebook will take 30% of ad revenue and pay the remaining 70% to the content creator, with taxes being deducted before payouts.
• 📈 Start creating and posting content now to ensure you’re prepared for monetization in June.

Q & A

What significant announcement is made in the video?

The video announces that Facebook will start monetizing Nigerian content creators by June 2024.

What are the basic requirements for Facebook page monetization?

To be eligible for monetization on Facebook, a page must have 5,000 followers, 60,000 watch minutes, and at least five active videos.

Why is it important to avoid page violations before applying for monetization?

Page violations, such as posting content that doesn't belong to you, can delay monetization. If a page has violations, it may take an additional 30 days to review the page again for monetization.

What is the recommended posting frequency to grow a Facebook page?

It is advised to post two contents per day or at least five contents per week to grow a Facebook page.

Why should creators start preparing now rather than waiting until June 2024?

Creators should begin posting content now to meet Facebook's requirements in time for monetization in June. Waiting until June would be too late to meet the requirements and benefit from the monetization program.

What documents are required to apply for Facebook monetization in Nigeria?

Content creators will need a government-issued ID (such as a driver’s license, national ID card, or international passport) and a tax identification number (TIN).

How can creators obtain a tax identification number (TIN) in Nigeria?

To obtain a TIN, creators must register a company with the Corporate Affairs Commission (CAC) and then apply for the TIN at the Federal Inland Revenue Service (FIRS). This process usually takes 7 to 8 days.

How will Facebook pay creators for monetized content?

Facebook will place in-stream ads on monetized videos. Advertisers pay Facebook, which takes a 30% cut and gives the remaining 70% to the creator.

What tax obligations do creators have once they start earning from Facebook?

Creators are required to pay taxes on their earnings from Facebook. In some cases, taxes may be automatically deducted before payment is made to the creator.

What additional content is promised in future videos by the creator?

The creator promises to release another video explaining how to shoot content that can be beneficial for monetization.