Make Money In Nigeria
Money Talk

The Many Sure Ways to Make Money In Nigeria

Buchi / June 13, 2019

Anybody can make money in Nigeria! How? You may ask, with the scary statistics that we read in the press every day. Nigeria today has more people living in extreme poverty than any other place in the world.  World Poverty Clock reports that the number of extremely poor people in the country is increasing by six every minute.  By the year 2030 it estimates that about 120 million of the population or 45 percent may be surviving on less than $2 a day. So how can one make money in a country with such a gloomy record? Answer: The country…

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Investing

6 Smart Ways to Invest In Nigeria With A Small Amount of Money

Buchi / May 14, 2019

What are the ways to invest in Nigeria with a small amount of money? Is it possible to invest in Nigeria with small money? Are there opportunities for people who don’t have much money to invest in Nigeria and make money? Can a poor person invest in the stock market? These are some of the questions I regularly receive in my email. And my answer is a big yes to all of them. Many people think that making an investment is an exclusive preserve of the very rich class.  On the contrary, anybody can start investing irrespective of how much…

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Investing

How to Start Investing In the Nigerian Stock Market

Buchi / May 9, 2019

The Nigerian stock market was shaken in 2008 by the global financial crisis and a domestic banking crisis that caused stock prices to plummet.  The market has since recovered though it is yet to attain the pre-crisis heights in 2007 when market capitalization of listed equities was $84 billion. The Nigerian stock market attracts large foreign investors’ portfolio due to the high returns it offers. For instance, in 2018, foreign portfolio flows accounted for about 51 percent of total market transactions at the Nigerian Stock Exchange.  Also in the period 2011 to 2015, foreign transactions consistently outperformed domestic composition. And…

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Business Ideas

16 Business Ideas In Nigeria Solid Minerals Sector

Buchi / March 31, 2019

The Nigeria solid minerals sector is one big untapped opportunity for investmet and business. As Nigeria makes efforts to diversify her economy away from crude oil, the exploitation of solid minerals is the next big thing apart from agriculture.  There are at least 44 solid mineral types in Nigeria’s soil most of which are available in proven commercial quantities but are largely unexploited.  These solid minerals are spread accross153 locations in the 36 states of the federation.  Thus, there is no state in Nigeria where you cannot find at least one solid mineral type. Some of the solid minerals in…

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Money Talk

How to Get A Quick Loan Without Collateral in Nigeria

Buchi / March 20, 2019

Thanks to developments in financial technology, it is now possible for individuals and small businesses to obtain a quick loan without collateral through the online lending portals and loan apps that are coming up. You no longer need to deal with the frustrations that come with continued rejection of your loan applications by your bank due to lack of collateral or your inability to meet other stringent requirements the banks usually put on the way of borrowers. In this post, we highlight some of the popular loan apps in Nigeria or online portals where you can get a quick loan…

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Business Ideas

Agent Banking In Nigeria: All You Need to Know and How to Start It

Buchi / February 14, 2019

Agent banking is beginning to gain currency in Nigeria, yet not so many people know about it. If you have an existing small business that brings in cash on a daily basis, you can diversify your revenue streams by becoming a bank agent. Who is a bank agent A person or entity who, not being an employee of a bank, delivers banking services on behalf of the bank on an agreed commission using own premises and resources, is described as an agent bank Imagine you were returning from a family visit on a public holiday. Suddenly you had a problem…

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Grow Your Business

6 Steps to Create Your Company’s Financial Plan

Angel Theresa / January 23, 2019

Mastering your finances is one of the essential tasks of any entrepreneur. Yet many business owners overlook basic aspects of financial management that can give them greater control over their business and greater peace of mind.  Indeed, to have financial plan is a necessary step towards avoiding business failure Early Warning System The financial plan differs from the financial statements in that they show what has happened, while the plan is a set of projections of revenues and expenditures for the coming months. These projections will serve as an early warning system and help you predict cash decreases, your financing…

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Business Ideas, Investing

5 Top Sectors to Invest In Nigeria In 2019

Buchi / January 21, 2019

This post identifies top five sectors to invest in Nigeria.  It is intended to guide people who are looking at doing business in Africa’s second largest economy and one of the top attractive economies to do business in . Nigeria is a good place to do business in spite of her challenges. Some of the critical drivers are high returns on investment  (ROI), relatively low labour cost, huge market, large consumer spending arising from her large population which is estimated at over 200 million people and a large endowment of natural resources to provide input to industries.  This is in…

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Money Talk

Africa’s Black Tax: A Sustainer of the Poverty Cycle

Feranmi Ajetomobi / January 18, 2019

Recently, Twitter was agog with a short but relatable tweet of a young lady (@Ojima4)  – a tweet with content synonymous to what is known as the black tax in the southern parts of Africa. The black tax is a tradition so common that it earned a prominent spot in Trevor Noah’s “Born a Crime”, really beautiful book by the way. To properly explain the black tax, we can lend the words of Gerald Mwandimbira of the Savings Institute, South Africa. In an interview with Vukuzenzele, a publication of the South African government, he said, “Black tax sees a person’s…

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Business Ideas

Thrift Collection Business – This Ancient Banking Model Is Still Very Profitable

Buchi / December 30, 2018

The origin is not known but Thrift collection business has been with us for a very long time in Africa. The popular Alajo Shomolu, arguably the first known organised thrift collector to operate in Lagos, started his business in 1954.  It is an old micro banking model which allows people to save in small amounts on daily basis for a period of time towards specific goals. Another name for it is Money Collection or Daily Contribution. The yorubas call it alajo, it is osusu in Igbo and Adashe in Hausa. In Ghana it is known as susu and tontine in…

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