Quizzes

Stacks

Shows

Podcasts

Newsletters

Naira Life

Love Life

Hustleprint

Love Currency

Sunken Ships

What She Said

My Bro

So You Don’t Have To

Interview With…

Zikoko Memes

Jollof Road

Cholera Outbreak Update

Follow our socials

  • 2025 was a year of bold moves and smart money decisions for some young Nigerians. They took calculated risks that paid off in ways that could change their financial futures. 

    From crypto trades that multiplied in days, stocks that quietly doubled over months, to property investments that promise multimillion-naira returns, these four Nigerians show there’s no single path to investing.

    “I turned $1,200 into almost $10,000 by taking profits early from a crypto trade” — Korede, 25

    I’m a full-time crypto trader, so I’ve spent a significant part of my year rotating money into different coins, taking profits when possible, and protecting my capital when the market turns.  When I talk about my smartest investment of 2025, one trade stands out.

    On September 17, a relatively unknown token called “A S T E R” began gaining attention after CZ, the co-founder of Binance and one of the most influential voices in the crypto industry, mentioned it on Twitter. His endorsements tend to move markets, so I took it seriously.

    I caught the token early, at around $0.17 per unit, and allocated about 10% of my portfolio — roughly $1200 —  to it. At the time, it didn’t feel like a big, calculated bet. I was just trading how I typically do: get in early, monitor sentiment, and react fast.

    But it became my most profitable trade of the year.

    My trading income fluctuates between ₦700k and ₦1m monthly, sometimes more when the market is bullish. Still, nothing this year matched what that token “A S T E R” did. Once it started pumping, I sold in stages. Any time I saw a 200–300% pump, I took partial profits and left the rest to compound. 

    By the time I exited fully after 48 hours, selling portions at $0.40 and eventually the rest at around $0.80, my $1,200 had grown to almost $10,000 — an 8x return.

    The token eventually crossed a 10x surge, but I had already taken all my profits. I needed the win more than I needed the perfect top, so I wasn’t going to be greedy. The combination of discipline and the luck of catching the token early made it my smartest investment of 2025.

    Related: These 10 Nigerian Stocks Quietly Turned Investors Into Millionaires in Just 6 Months

    “I don’t chase quick riches; I show up, invest, and compound over time” — Emmanuel, 25

    I work in media and earn between ₦200k and ₦500k a month. My financial priority this year has been simple: to build a long-term buffer and grow my wealth. Investing is the tool that helps me do that, so it’s central to everything I do.

    Stocks are my smartest investments in 2025. I bought into Coreweave, an AI startup, which nearly doubled in value. But if I  look at all my holdings, Viasat has been my biggest winner since I started investing last year, up more than 300%. I saw a recommendation from an analyst, did some digging, and noticed strong prospects, especially its contracts with the US government. When a congressperson disclosed a purchase earlier this year, I doubled down.

    I don’t invest to become wealthy overnight — so the power of investing shows over the long term. My strategy is simple: diversify, be consistent, and balance risk. Stocks are my higher-risk plays, while fixed deposits, Real Estate Investment Trusts (REITs), mutual funds, Treasury bills (T-bills), and equity funds provide steady foundations. This balance lets me take bigger bets on opportunities like Coreweave without jeopardising my base.

    I invest a set portion of my income each month, currently a little over ₦30,000, and let my income growth determine the increases. Even if I earn more than usual in a month, I stick to the plan. This year, I’ve invested approximately $80 in US stocks using wealth-tech apps like Bamboo to buy fractional shares. That means I don’t need to pay the full share price. I can invest as little as $2, with roughly $1 going to fees. My $80 has already returned $115, and combined with other alternative assets, my portfolio has surpassed $300, including returns. 

    It’s proof that small, consistent steps build financial discipline over time, and those habits compound far more than any single “big win.”

    For example, Coreweave nearly doubled this year. I bought it at $5 per fraction, and it’s now worth $8.77 per fraction. Viasat remains my most profitable overall investment: I bought it at $3.71, and it’s now worth $15.37. Across all my assets, I’ve more than doubled my capital, reinforcing the value of patience, consistency, and thinking long-term.

    Investing won’t make me rich instantly, but I know that by starting early, sticking to my plan, and combining it with other wealth-building moves like starting a business, owning equity, or supporting friends’ ventures, I’m setting myself up to win the long game.

    “Knowledge plus positioning equals opportunity. That’s my smartest investment this year,”  — Mariam, 22

    I’m a student working in Web3, with a primary focus on community, content, and ecosystem growth. My income sits between ₦200k– ₦500k, and at the start of 2025, my main goal was simple: to increase my income and build a proper financial cushion without spreading myself too thin.

    My smartest investment this year was putting both time and money into learning Web3 properly and getting in early on a few solid projects. At first, it wasn’t about the money at all; it was about understanding the space.

    Web3 rewards people who are early and consistent. I realised that knowledge plus positioning equals opportunity, so I treated learning, content creation, and early participation like an investment.

    I started small with beginner-friendly projects, dedicating a few hours a week to learning, creating content, and consistently showing up. The returns weren’t just financial; they came in the form of growth, connections, job opportunities, and project incentives.

    It’s my most brilliant move because it changed my earning power. It also taught me that at this stage of my life, the best investment isn’t always money; it’s skills, knowledge, and showing up early in the right spaces.

    “I bought land today for my future self. Patience now, multimillion returns later” — Shittu, 26

    I bought a plot of land in Ibadan this year for ₦3.5 million, and it’s probably my smartest long-term investment yet. I didn’t just stumble into it. I’d been saving for over three years, cutting back on unnecessary expenses, and being deliberate about setting aside money for something that would grow in value over time.

    It isn’t about instant gratification. Land is a patient investment. I know the ₦3.5 million I spent isn’t going anywhere tomorrow, and I’m okay with that. In ten years, that same piece of land could easily be worth five times what I paid, maybe more, and potentially pay me in multimillions. It’s the kind of asset that doesn’t just sit there; it appreciates, and it protects you against inflation in a way that a savings account can’t.

    The best part is that this was money I could afford to put away — money I know I could do without in my day-to-day life, which gave me the confidence to commit without stress. Every time I think about it, I view it as an investment in my future financial freedom. It’s about patience, strategy, and understanding that some of the smartest investments aren’t flashy or quick; they’re the ones that grow quietly, steadily, and reliably over time.

    Read Next: How I Built a £100K Stock Market Portfolio 2 Years After Moving to the UK

    Get More Zikoko Goodness in Your Mail

    Subscribe to our newsletters and never miss any of the action

    [ad]

  • Danladi*, 24, always thought investing was something for people with finance degrees, high incomes, or big risks to take. But then he stumbled on an investment platform called BluNest and decided to give it a week. Here’s how it went and how his perspective on growing his money started to shift.

    Monday

    Curiosity, not commitment (yet)

    I have always thought investing was for people who wore suits, drank black coffee, and read. The Economist for fun. Me? I’m just a young adult trying to make sense of life and keep my finances afloat. I save because it’s what I was taught to do if I don’t want to go broke, and for the longest time, it’s worked for me. But lately, saving has felt like running on a treadmill: I’m moving but not going anywhere.

    So, when I stumbled on BluNest, a platform that promised to make investing less intimidating, I thought, Why not? I told myself I would give it one week out of curiosity.

    Tuesday

    Setting up and second-guessing

    I created a BluNest account and set up my basic profile. It took less than ten minutes to create my profile, verify my bank details, and upload the required documents. Before funding my wallet, I decided to explore the platform. It was surprisingly intuitive. There were two wallets: one for naira, another for dollars. Both showed clear values and returns.

    Then I clicked “Explore” and was greeted with an entire world of asset options:

    ● Mutual funds – Where a group of people pool their money to invest in stocks, bonds or

    debt securities.

    ● Treasury bills – Short-term debt issued by the Central Bank of Nigeria (CBN), backed by the government.

    ● Naira bonds – Loans to the government or corporations, with fixed interest.

    ● Commercial papers – High-yield, short-term loans issued by corporations.

    ● Money market portfolios – Low-risk instruments with short maturity periods.

    All the investment options were at low risk, with decent returns, and didn’t look overwhelming. But still, I hesitated. I didn’t want to make a mistake, so I told myself to sleep on it and come back tomorrow.

    Wednesday

    Scepticism meets Google

    First thing in the morning, I started searching for validation. I scrolled through Instagram and TikTok, looking for what financial influencers had to say. A few recommended mutual funds as the best starting point for beginners, and treasury bills as stable options for building consistent returns.

    I felt more confident. I opened the BluNest web app and returned to the Explore section. One thing I appreciated? Transparency. Each fund clearly lists its returns, risks, and purpose. I focused on mutual funds, primarily because they were managed by Stanbic IBTC Asset Management — a name I recognised and trusted.

    Here’s what I found:

    ● Stanbic IBTC Money Market Fund: Low-risk, short-term investment that offers competitive returns. I can start with as little as ₦5,000.

    ● Stanbic IBTC Equity or Balanced Funds: For long-term investors seeking higher returns through a mix of stocks (equity) and other assets.

    ● Stanbic IBTC Nigerian Equity Fund: This exposes you to top Nigerian companies listed on the Nigerian stock market.

    ● Stanbic IBTC Ethical and Shari’ah Funds: This allows me to invest in accordance with ethical and Islamic principles, avoiding interest, alcohol, gambling, and other non-halal sectors. The entry point is ₦4.30 per unit.

    ● Dollar Fund: This is a foreign currency mutual fund. It’s great for diversification and hedging against naira devaluation.

    It all began to click. These weren’t random investments, but structured options designed for different goals. I even went to the Knowledge Centre to read about mutual funds and understand how the returns are shared among investors.

    Thursday

    I took the leap

    I finally felt ready. I had some ₦20,000 that I wasn’t going to miss too badly. The Stanbic IBTC Ethical Fund caught my eye. The offer price was ₦4.30 per unit, allowing me to invest in actual companies and tap into the Nigerian stock market without diving in too deep. I liked that it aligned with ethical principles and had an affordable entry point.

    The minimum holding period was 91 days — not bad. If this went well, I planned to top up ₦5,000 every month and build momentum gradually. I realised wealth doesn’t have to be built in one grand move. Sometimes, it’s brick by brick.

    Friday

    Green Feels Good

    I checked my dashboard again. My ₦20,000 investment was now visible in my portfolio. Everything felt calm and steady, not as nerve-racking as I imagined. I even did the maths to see what things could look like long-term. If the 3-month return stayed around 26.35%, my ₦20,000 could grow to about ₦25,270. If I added ₦5,000 every month after that, I could end the year with ₦90,858, from a total investment of just ₦65,000.

    For the first time, I didn’t feel like I was simply spending or hoarding money; I was growing it slowly and intentionally.

    Bottom line

    I didn’t become a finance bro in five days, and I still don’t fully understand all the investment terms. But this week, something was clear: investing doesn’t have to be overwhelming or exclusive. Platforms like BluNest meet you where you are and walk with you at your own pace.

    I’m still figuring it out, but at least now, I know that my money doesn’t just sit still anymore. It moves, grows, and works, just like I do.

    Want to Start Your Own Money Growth Journey?

    Try BluNest by Stanbic IBTC Asset Management — an easy, interactive platform made for people like you. Whether you’re just starting out or ready to diversify, BluNest makes investing smart.

    Click here to explore the BluNest web app and start putting your money to work today.

    [ad]

  • Nigeria’s stock market has its ups and downs. But if you had put some money in the right stocks in 2022, you might be sitting on millions today. Others? Not so much.

    So, we looked at how 10 major stocks have performed since 2022. To help you make sense of it, we also spoke to an investment expert for insights. The big question is, are they worth your money now?

    What does it mean to invest in stocks?

    Think of it like this: 

    • Stocks: A stock represents ownership in a company. When you buy a stock, you own a small piece of that company.
    • Shares: Shares are the individual units of a stock. If a company has 1 million shares and you own 1,000 units, you own 0.1% of the company.

    The terms “stocks” and “shares” are often used interchangeably.

    • Equities investing: This is the act of buying shares (or stocks) in a publicly listed company. When a company needs funds, it can raise money by selling shares to the public. Investors who buy these shares become part-owners of the company and share in its profits or losses.

    How do you make money from stocks?

    • Dividends: Some Nigerian companies share their profits with shareholders as dividends, usually paid twice a year.
    • Capital gains (and losses): If a stock’s price increases, you can sell it for a profit. For example, if you bought shares at ₦10 per unit and the price rises to ₦20, you’ve doubled your money. But stocks can also lose value. If the price drops to ₦5 and you sell, you’ve taken a “capital loss.”

    Unlike lower-risk investment options like FGN bonds, money market mutual funds, or savings accounts, stocks are medium-risk—they can rise, fall, or even crash unexpectedly. 

    10 Nigerian Stocks That’ve Made (Or Wrecked) Investors Since 2022

    We tracked the performance of 10 major Nigerian stocks in 2022 vs. 2025, using historical data from Investing.com, a platform that monitors global and local financial markets. Over the past three years, Nigeria has faced economic shocks, inflation spikes, naira devaluation, and forex volatility, alongside shifting monetary and government policies. Many leading Nigerian companies have also suffered significant foreign exchange (forex) losses, all of which have shaped stock performance.

    Here’s how a ₦100,000 investment in these Nigerian stocks would have changed between 2022 and 2025, showing whether the investment grew in value or took a loss. 

    1. BUA Foods

    According to historical data from Investing.com, BUA Foods traded at ₦61.40/unit on March 11, 2022. Today, it’s up to ₦376.20/unit, which is a 512.70% increase.

    If you had invested ₦100k in 2022, you’d have bought 1,628 units of BUA Foods stock. And they’d be worth ₦612,453.60 today. This means a ₦512,453.60 gain in three years.

    • March 11, 2022: ₦61.40/unit.
    • March 11, 2025: ₦376.20/unit.
    • Capital gain on ₦100K: ₦512,453.60.

    2. Nestlé

    Nestlé traded at ₦1,435/unit in March 2022. Today, it’s down to ₦1,009/unit, a 29.65% drop.

    ₦100k would have bought you 69 units of Nestlé stock in 2022. But they’d be worth  ₦69,621 today. This means a ₦30,379 loss over three years.

    • March 11, 2022: ₦1,435/unit.
    • March 11, 2025: ₦1,009/unit.
    • Capital loss on ₦100K: ₦30,379.

    3. GTCO

    GTCO stock has more than doubled in three years. In 2022, it traded at ₦22.40/unit. Today, it’s at ₦59.95/unit, a 167.63% increase.

    Investing ₦100k in 2022 would have gotten you approximately 4,464 units of GTCO’s stocks, which would now be worth ₦267,616.80. That’s a ₦167,616.80 profit. 

    • March 11, 2022: ₦22.40/unit.
    • March 11, 2025: ₦59.95/unit.
    • Capital gain on ₦100K: ₦167,616.80.

    4. Dangote Cement Plc

    Dangote Cement has delivered steady growth over the past three years. In March 2022, it traded at ₦273.50/unit. Today, it’s at ₦480/unit: a 75.5% increase.

    A ₦100K investment in 2022 (≈ 365 units) would now be worth ₦175,200, giving you a  ₦75,200 return. 

    • March 11, 2022: ₦273.50/unit.
    • March 11, 2025: ₦480/unit.
    • Capital gain on ₦100K: ₦75,200.

    Get More Zikoko Goodness in Your Mail

    Subscribe to our newsletters and never miss any of the action

    5. Airtel Africa

    Airtel Africa’s stock price has grown significantly over three years. In March 2022, it traded at ₦1,260/unit. Today, it’s grown by 71.18% to  ₦2,156.90/unit.

    If you had invested ₦100K in 2022, you’d have bought 79 units. At today’s price, your investment would be worth ₦170,395.10, giving you a ₦70,395.10 gain.

    • March 11, 2022: ₦1,260/unit.
    • March 11, 2025: ₦2,156.90/unit.
    • Capital gain on ₦100K: ₦70,395.10.

    6. Seplat Petroleum

    Seplat petroleum stock has delivered exceptional growth over the past three years. In March 2022, it traded at ₦990/unit. Today, it’s at ₦5,700/unit, a jaw-dropping 475.76% increase.

    You’d have bought 101 units with ₦100k in 2022. Today, those units would be worth  ₦575,700, giving you a ₦475,700 appreciation. 

    • March 11, 2022: ₦990/unit.
    • March 11, 2025: ₦5,700/unit.
    • Capital gain on ₦100K: ₦475,700.

    7. Transcorp Hotels

    In 2022, Transcorp Hotels stocks traded at ₦5.38/unit. By 2025, it had surged to ₦126.10/unit, reflecting a 2,243.84% increase over three years.

    A ₦100,000 investment in 2022 would have been enough for approximately 18,587 units. Today, those shares would be valued at ₦2,343,820.70, marking a ₦2,243,820.70 increase in value.

    • March 11, 2022: ₦5.38/unit.
    • March 11, 2025: ₦126.10/unit.
    • Capital gain on ₦100K: ₦2,243,820.70.

    8. MRS (Chevron)

    Back in 2022, MRS (Chevron) stock traded at ₦12.04/unit. If you had invested ₦100,000, you would have secured 8,305 units. With the stock now at ₦178/unit, your investment would have grown to ₦1,478,290, delivering a ₦1,378,290 profit and a 1,378.40% return.

    • March 11, 2022: ₦12.04/unit.
    • March 11, 2025: ₦178/unit.
    • Capital gain on ₦100K: ₦1,378,290.

    9. Total Nigeria Plc

    If you had put ₦100,000 into Total Nigeria stocks in 2022, you would have acquired 377 units at ₦264.90/unit. With the stock now at ₦637/unit, your shares would be valued at  ₦240,149, giving you a ₦140,149 increase and a 140.15% return.

    • March 11, 2022: ₦264.90/unit.
    • March 11, 2025: ₦637/unit.
    • Capital gain on ₦100K: ₦140,149.

    10. Guinness Nigeria 

    Guinness Nigeria experienced modest growth over the same period. If you had invested ₦100,000 at ₦65/unit in 2022, you would have bought 1,538 units. At today’s price of ₦79.90/unit, your investment would now be worth ₦122,886.20, giving you a ₦22,886.20 appreciation and a 22.92% return.

    • March 11, 2022: ₦65/unit.
    • March 11, 2025: ₦79.90/unit.
    • Capital gain on ₦100K: ₦22,886.20. 

    Note: On the Nigerian Exchange (NGX), shares are bought in whole numbers, so these calculations show the maximum number of whole shares ₦100,000 could buy. For example, at ₦1,435 per Nestlé share, you’d get 69 shares (₦99,015), not 69.69 units. Any leftover cash stays uninvested.

    *Potential dividends were excluded for simplicity and to keep the focus on stock price changes over time.

    Is It Giving ‘Buy’ or ‘Bye’?

    With all the market swings, is now the time to invest, or should you sit this one out? 

    Efe Ogunnaiya, a multi-asset portfolio manager with 25 years of experience analysing financial markets, shares her key stock investment principles to help you make the right call:

    • There’s always an opportunity in the stock market if you pick wisely:
      Not every stock is worth buying, but as long as a company is financially strong and well-managed, it can be a good investment. 
    • If the price drops, buy more:
      Stock prices fluctuate. if you believe in a stock’s long-term value, don’t panic. Instead, keep buying to lower your overall cost per share.
    • Diversify; don’t put all your eggs in one basket:
      Spread your money across different asset classes, industries, and, if possible, countries. A good rule of thumb: never invest more than 25% of your money in a single stock, industry, or company.
    • Cash is also a strategy:
      Don’t sleep on cash! Keeping some money in a savings account or low-risk investments like Treasury Bills (T-Bills) or Money Market Funds gives you flexibility.
    • No time to manage stocks? Hire a fund manager:
      If stock picking isn’t your thing, you can invest in an equity mutual fund or hire a fund manager (if you’ve got more money to spare). This way, professionals make the decisions for you.

    Ogunnaiya also highlights that the “Financial services, oil and gas, and telecoms industries appear promising for long-term growth” in the stock market. 

    At the same time, she warns that investing isn’t without risks, “Make sure you invest only through SEC-licensed entities and only invest in what you understand.”

    How to Start Investing in Nigerian Stocks

    You can’t just walk into the Nigerian Stock Exchange (NGX) building on Lagos Island and buy stocks or shares yourself. You need an intermediary — a licensed stockbroker. There are over 200 SEC-registered and NGX-certified stockbroking firms in Nigeria, and you can find a full list on the SEC or the NGX website.

    To start, you’ll open a stockbroking account with one of these firms. Once your account is set up, you’ll receive login details to their platform, where you can browse available stocks and buy shares in any company you’re interested in.

    Stock investing Nigeria

    What to Consider Before Investing in Nigerian Stocks

    Ogunnaiya explains that before investing, you should assess the following: 

    • Economic State: How is the economy performing? Are there sectors that remain strong regardless of economic conditions?
    • Industry Outlook: What’s the general state of the industry? Is it growing or struggling?
    • Dividend History: Does the company have a record of paying dividends? If so, how frequently?
    • Stock Performance: How has the stock price moved over the past three to five years? Past growth doesn’t guarantee future gains, but it’s a useful indicator.
    • Company Leadership: If you don’t trust the company’s leadership, you might want to think twice before investing.
    • Financial Health: Look at the company’s profit history, asset size, and overall financial performance over the past three to five years.

    You can find data on stock prices, dividend history, and financial performance on platforms like Investing.com or the NGX website.

    Bottom Line

    Stocks can be a great way to build wealth, but they come with risks. If you can think long-term and handle market swings, they might be worth it. But if you prefer stability, safer investment options like money market funds or Federal Government of Nigeria bonds (FGN) bonds could be a better choice. The key is knowing your risk tolerance and investing accordingly.

    Some stocks have soared, others have stumbled, but the Nigerian stock market is still full of opportunities for those who know where to look.

    Join 1,000+ Nigerians, finance experts and industry leaders at The Naira Life Conference by Zikoko for a day of real, raw conversations about money and financial freedom. Click here to buy a ticket and secure your spot at the money event of the year, where you’ll get the practical tools to 10x your income, network with the biggest players in your industry, and level up in your career and business.

    Also Read: These 10 Money Market Mutual Funds Are Making Nigerians Rich in 2025

    [ad]

  • Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.

    Your all-in-one money manager, Moniger, helps you to save money, manage your subscriptions, and track your expenses. Download the app and get started today!

    Nairalife #310 bio

    When did you first realise the importance of money?

    2004, when I got into university. A decent meal cost between ₦300 – ₦500 in those days, and ₦1k meant I could go out, have fun, and eat. But I was in an environment where most people couldn’t afford that. 

    Watching how other people managed the little they had made me realise the value of money in a way I never had to think about before. 

    I assume this means there was money growing up

    My parents were lecturers, and we had all the nice things. You could say we were upper middle class. My dad often flew around the country for work, and I remember my first time on a plane was for one of such trips. 

    My allowance in uni was generous enough to cover most of my needs. It started at ₦10k/month and grew to ₦30k by the time I left uni in 2008. My allowance continued after uni — usually between ₦40k and ₦50k — until 2015. I’m not exactly sure why the allowance ended. It just ended. 

    After uni, I bounced around a lot, from NYSC in 2010 to trying out postgraduate studies between 2011 and 2014. I dropped out halfway because I realised it was an absolute waste of time. In 2014, I started a car registration and document renewal hustle. 

    How did that happen?

    I drove my parents’ car around for errands and my job was to make sure documents like insurance papers, roadworthiness, and the like were intact to avoid police wahala or having to bribe them. That’s where the idea came from.

    I started by renewing my parents’ papers. Then, I extended the service to family and friends. I charged ₦1k per document because it comfortably covered my transport fare to the registration office. 

    I made between ₦5k – ₦7k weekly. I continued these runs even when I landed my first full-time job in 2016 and stuck with it until 2019. 

    Tell me about that first job

    I worked as a financial analyst at a business publication, writing about the economy, crypto, and the stock market. My starting salary was ₦60k/month, which grew to ₦120k by 2019 when I left the company. In addition to the pay, I also received bonuses and extra allowances whenever I travelled for work.

    After I left the job, I had a three-month stint as a financial analyst at a fintech company, where my salary jumped to ₦300k. I left because the person who hired me moved elsewhere, and I followed them. 

    Better pay?

    No, my role and salary remained the same. The new place was a financial services firm, and I put on more hats. I did everything from writing to financial advisory. Because of my job, I was exposed to multiple resources that taught me how to understand the financial market. I learned to look at money from different angles, apply the knowledge to my finances, and educate others. 

    By the time I left in October 2024, my salary had grown to ₦450k plus extra ₦200k – ₦300k in bonuses annually. Also, I’d learnt enough to offer financial advisory as a self-employed analyst and had started building my own startup. 

    Interesting. How’s that working out?

    Financial advisory is what pays my bills right now. I offer one-on-one sessions to clients who want to know how to make their money work for them. I typically charge between ₦50k – 100k/year per client, which covers about four or five calls. Then, I create a financial plan they can execute, including investment advice, and check in two or three times within a year.

    I get up to five clients monthly. I’m fairly visible on social media, so I get clients from there. I also get a lot of referrals from family and friends. I currently have 32 clients on my roster, but I don’t get paid at the same time, so my monthly income averages between ₦500k – ₦1m. Sometimes it’s less.

    How about your startup?

    The startup’s value proposition is providing stock market and crypto research to Nigerians and Africans who need this information to make market and investment decisions. I’ve noticed there’s a gap in the market on data like this. 

    Many young Nigerians are increasingly investing in crypto and the stock market, but few resources explain these markets in a way that almost everyone can understand. So, I’ll do that for a fee. 

    It’s still in development, so I don’t expect to make money from it for about two years. Right now, I just want to get as much social media attention as possible. Then, I can start thinking about profitability.  

    So, you provide investment advice. What’s your own investment strategy like?

    I primarily invest in naira and dollar stocks, as well as crypto and treasury bills. Crypto has been my most profitable investment channel. 

    Could you break it down?

    I invested $500 in Bitcoin when it was $10k in 2019. I sold my holdings in December 2024  — Bitcoin was now worth $100k, and I made about ₦8m from that sale. Then, I dumped the money in treasury bills. 

    I still have some other coins in my portfolio. There’s 0.5 BNB, which I bought at $20 in 2019 and is now worth over $300. Then I got one Solana at $60 in 2023, which is now worth $190. I also bought $1k worth of Ethereum last year when it was around $3k. I’ll probably sell it when it reaches $6k.

    Then, there are small amounts in a few coins, but these three coins are my current major crypto holdings. 

    I should mention that I’ve also lost money in crypto. In 2020, I bought LUNA and some other “worthless coins” and lost $1k when they crashed. I also lost money on a crypto exchange that got hacked. So, it’s not all good news.  

    The rest of my investments — the bulk of them— are in stocks and dollar investments.

    Tell me about them

    I’ll break it down into dollar and naira assets. 

    I have about $4400 in stocks, exchange-traded funds, real estate and fixed-income assets divided across different investment platforms, which I’ve been building monthly since 2019. Then, I have $1k cash at hand.

    My naira assets include about ₦11 million invested in Nigerian stocks, mutual funds, and treasury bills. I also bought a piece of land for ₦2.5m last year.  

    I use a financial management app called Moniger to manage my cash, set a monthly budget, and track my expenses. I linked all my bank accounts so I can see all my transactions on Moniger’s dashboard and easily detect when I’m going overboard. 

    I still use my trusted Excel sheet to track my investments and assets, but this app has been helpful for budgeting and day-to-day expenses. 

    ALSO READ: I’m 22, and This Is How I Grew My Money by 29% in 2024

    Speaking of budgeting, what does your typical month in expenses look like?

    Nairalife #310 monthly expenses

    I’ve been self-employed since October 2024, so I’ve reduced my expenses to the barest minimum. Fortunately, I live in a family house, so I don’t pay rent. I also pay for a yearly internet bundle, so that’s ₦200k for my two internet service providers.

    What kind of life would you say your income affords you?

    Honestly, I feel poor. You might say I’ve made money over the years, but that’s because of my privilege. If I were paying rent, I wouldn’t have had the leeway to invest and build my portfolio the way I have.

    Between 2019 – 2022, I invested half of my monthly salary and still had enough to live comfortably. But since our president arrived, the cost of everything has gone up, and I can no longer do that. Now, I can only manage to invest about 10% of my monthly income.

    My net worth is around ₦20m, but I’d need 5x the number to live the kind of lifestyle I want. For instance, I’d like to buy a 2018, 2020 or 2022 Mercedes GLE SUV, and that would cost about ₦80m – ₦100m. Even if I gather all my money and hustle, I can’t afford that car. 

    Also, a car I could’ve gotten for ₦4.5m last year jumped to ₦10m – ₦15m after the naira devaluation.

    Besides cars, I’d like to travel a bit more, which is also expensive. I visited a West African country twice last year and hope to do the same this year. It’ll probably set me back like ₦1.5m to visit now.

    Out of curiosity, do you think you’ll ever return to a 9-5?

    Never ever. My thinking after leaving my job was to get another one at a bigger firm abroad. But foreign employers don’t want to hire Nigerians if you don’t live in the US or the UK. So, when that didn’t work out, I decided to do my own thing. Plus, I’ve realised that self-employment will be more profitable in the long run. 

    The average finance person earns between ₦450k – ₦3m monthly. I can make that in a month. In five years’ time, I’ll have built a company I can sell for a million dollars and turn my finances around. There’s no way my five-year salary at a 9-5 would be up to $1m, except it’s a job at JP Morgan. Besides that, I’m not interested.

    What was the last thing you spent money on that required serious planning?

    I recently supported a sibling who relocated last year. I saved for a few months and liquidated some of my investments to give them ₦1m in batches of ₦350k and ₦650k. 

    It wasn’t really expensive, but it took some months of planning because I was still earning ₦450k and couldn’t live on half my salary. 

    How would you rate your financial happiness on a scale of 1-10?

    4. I’ve been blessed to work with companies that trained me pretty well and gave me the knowledge I use for investment today. I’m financially literate, but I also feel very poor. My cost of living has doubled because of this government, and it’s more than a little annoying.

    If you’re interested in talking about your Naira Life story, this is a good place to start.

    Yes, I want to do a Naira Life!

    Find all the past Naira Life stories here.

    Subscribe to the newsletter here.

    [ad]

  • Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.

    NairaLife #289 bio

    What’s your earliest memory of money?

    In Primary 4, I noticed teachers would come to class to ask students who hadn’t paid their fees to stand up. While I never had to, some classmates always stood up every single time the teachers came.

    It was my first indicator that money could separate you from the crowd. I didn’t know money was something people might not have.

    It’s safe to say you grew up with money then

    Kinda. My mum worked in finance, while my dad was a businessman who sold furniture materials, and they always sorted out my needs. I rarely requested anything that I didn’t get, whether it was a camera or a violin. 

    I got my first gold necklace in SS 2. All my classmates were surprised my parents got me actual gold, and I was just like, “If you also want gold, why not just ask your parents?”

    SS 2 was also the first time I noticed my privilege. My class was going on an excursion, and my friend couldn’t attend because she couldn’t afford the ₦5k or ₦10k fee. It sounded unbelievable that she’d miss it because of money, and I convinced my parents to pay for her. 

    When did you first make money on your own?

    I didn’t make real money until I became an adult. However, I made small change much earlier. I started charging my elder siblings about ₦500 to do their chores when I was in secondary school.

    Oh, I once wrote a book and sold copies in JSS 1. This was around 2009, so I bought computer time at a cyber cafe, typed the story, and printed 10 copies. I sold only five copies, and each went for ₦150. I used my earnings to buy candy and a watch.

    I did the chores-for-money thing throughout secondary school and only stopped when I moved out for uni in 2015.

    Did you do anything for money while in uni?

    I didn’t need to. I got a ₦20k monthly allowance plus whatever my siblings randomly sent me — I’m the last born. The major expenses like foodstuff were sorted at the beginning of the semester, so my allowance was primarily for any urgent need at school.

    That said, I took on some ushering gigs for extra cash in my final year. It wasn’t a conscious effort to make money; Ushering was just what everyone did, and I did it for the fun— you know, to also feel like I belonged. The gigs paid between ₦3k – ₦5k, and I did them occasionally until I graduated in 2020. Then, I returned home and was stuck with nothing to do.

    Ah. The pandemic year

    After events re-opened, I took up two ₦3k ushering gigs to prove to myself that I could make money. But after standing for hours at the last gig, I decided I couldn’t be doing that as a graduate.

    NYSC came in 2021, but I ghosted for the most part because I didn’t like the state I got posted to, and I wanted to stay close to family. The thing about Nigeria is, you can move anything as long as you have money. NYSC posted me to a school, but I settled my supervisor with ₦15k monthly out of my ₦33k allawee so I wouldn’t have to show up.

    What did you do with all that free time?

    I applied to proper jobs, and three months into my service year, I landed one as an auditor. My salary was ₦67k/month — my first big girl salary ever. I was so happy because I expected my first salary to be around ₦40k or ₦50k. 

    My main expenses were ICAN tutorial classes and handouts. My manager at work was fond of me, so he paid part of my exam fees, and my siblings handled the rest. I only paid about ₦50k of the ₦130k total cost from my own pocket.

    I didn’t go past the first-level certification, though. I don’t like accounting, and I only took the exam because I was working in the field then. Maybe I shouldn’t have bothered because I was only at the job for eight months.

    Did you find another job?

    Yeah. I moved to a new role as a risk consultant at a multinational in the financial services industry, which I got by sending out a cold email to the recruiter. My starting salary was ₦220k/month.

    The funny thing is, I didn’t even know this role existed before I got the job. But now I can’t imagine doing anything else. In school, I only heard you could work as a banker, lawyer, or doctor. I didn’t know what consulting meant until I found myself in financial services.

    I’m curious. What does a risk consultant do?

    I measure and mitigate risks for our various clients. That usually involves reviewing risk management policies, internal audit, and building new processes.

    In summary, it’s just an unending cycle of meetings and tasks. But I mostly work from home, so that helps.

    I imagine going from ₦67k to ₦220k was a pleasant jump

    It was! I studied the credit alert for a full minute when I received my first salary. Just looking at the commas before and after three whole figures made me feel really good. I even took my friends to eat without looking at the prices on the menu, haha.

    My lifestyle also changed a lot. I lived with my brother, so I only worried about my personal needs. Three months into the job, I got an iPhone for ₦250k. 

    Also, I’m an ambivert, but money made me start thinking about things that previously didn’t really matter to me. I started buying clothes and shoes every month and going out more. I’ve been to so many restaurants in Lagos, you wouldn’t even believe it. 

    Doings

    In 2023, my employers reviewed salaries across the board, and I got promoted. So, my salary is now ₦500k/month. 

    You’d think I’d be a lot happier with the increased pay, but I’ve recently become scared of money — especially since the beginning of the year.

    Let me guess, inflation? 

    Exactly. I rented my first apartment at ₦700k/year in 2023 and didn’t think much of it. It was just like, yeah, Nigeria is bad, but I’m still chilling. 

    The rent jumped to ₦1.5m this year. I had no choice but to pay because I couldn’t get something reasonable within the timeframe I had. Plus, I’d been saving money and could afford it, but it made me think about just how wild things have become. What happens when there’s another sudden price jump, and I can’t afford it? It’s not a nice feeling. My parents can still support me if the need arises, but I don’t want it to come to that.

    I’ll be honest, though. Earning more has also majorly changed how I think about money these days.

    Tell me more about that

    I’m so much more conscious of money now, and it’s in two ways. Because of my work and industry, I know there’s so much money to make from working a 9-5. I once thought earning ₦50k was great, but I now know that there’s money, and you just need to be in the right circle and industry to make it.

    On the other hand, I’m constantly on edge about running out of money or not having enough. I randomly battle thoughts like, “What if I don’t get money next month?” and it’s so wild because I literally have a job.

    I blame it on inflation sha. I like the life my salary affords me, and I dread the day I’ll no longer be able to fund it. I like to have fun. I try new recipes to spark joy because there really isn’t much to look forward to in this life, but food will always be there. What if it gets to a stage where I can no longer afford the type of pasta I like? 

    I hate how conscious I am of money. I have it, but I’m scared of losing it, so I’m never really happy. 

    I feel you

    I also understand that with money comes choice. Someone can decide they don’t feel inspired to work anymore and take a gap year because they can afford it. I don’t want to get to a point where I lose that choice or feel like I have to do things I’d rather not do because I can’t afford otherwise.

    I might just be dramatic because my current financial situation doesn’t point to that at all. But with how volatile the country is, no one can really say for sure. Maybe I’m deeping it too much because of my industry, but I just want to have enough money to stay afloat if this country goes down the drain.

    All this money talk makes me curious about your monthly expenses

    NairaLife #289 monthly expenses

    I don’t spend money on data because my employer covers it. Plus, I work remotely, so I hardly spend on transportation. 

    You budget ₦300k for savings monthly. How does that work?

    I save in money market funds. I have a mutual funds account that I use to purchase treasury bills, commercial papers and equity savings. It’s essentially like I’m keeping my money in different instruments that bring interest. I can liquidate into actual cash every 30 days, but I just leave it there. My portfolio is worth ₦2.5m now. I also have a savings app where I keep emergency cash. 

    Do you have any financial regrets?

    I wish I’d taken investments seriously earlier. My major challenge was navigating the risk that comes with it. Two years ago, all my colleagues were changing their naira to dollars and to me, it was like, what are these people doing? How can you not have naira? A dollar was about ₦600 then. Imagine if I’d also saved in dollars like they did.

    I only started investing heavily this year because a senior colleague at work asked everyone to indicate if they had investments. I heard my colleagues share how they had real estate investments and other huge portfolios. I remember thinking, “I thought we were all managing life?”

    LOL

    I only had stocks at the time, and this senior colleague told me the stock market was too volatile. They were right — my stock portfolio is currently at a loss. But I haven’t liquidated my position because it can go back up someday.

    Investing in stocks is a high-risk, high-reward situation. You can buy stocks worth a particular amount now and lose a substantial amount of it the next month.

    Thankfully, this senior colleague also taught me the importance of conservative investments, which made sense. A manager introduced me to money markets, which work the same as a regular bank account. The only difference is that your money will actually grow. Plus, it’s not as risky as stocks. I also try diversifying my portfolio by using different institutions for the money market funds. I don’t have actual cash in my regular bank account.

    Do you ever get anxious about not having money in your account?

    I don’t. I think that’s because most of my assets are near-liquid; I can easily convert them if I have a serious emergency.

    I also have rich friends. If the worst happens, I know I can easily ask them to loan me money while I figure things out. 

    That’s such a flex. Is there an ideal amount you think you should be earning?

    Right now, at least ₦1.2m/month. I’m at a point where I’ve tasted money and the convenience it brings, and I want a lot more of that. That sounds selfish, but I don’t mind it. I want plenty of money, please. I want to live lavishly.

    Is there anything you want right now but can’t afford?

    A serviced apartment with a bigger kitchen. That would likely cost ₦2.5m – ₦3m, and I can’t afford that right now. I’d also like to visit Ghana, but I’m still pushing it to later in the year. That’ll cost about ₦800k.

    How would you rate your financial happiness on a scale of 1 – 10?

    7.5. I’m earning well for my age, but I’m still navigating this fear of losing money and not having enough. It’ll be a 10 when I earn enough not to be so scared anymore.

    If you’re interested in talking about your Naira Life story, this is a good place to start.

    Yes, I want to do a Naira Life!

    Find all the past Naira Life stories here.

    Subscribe to the newsletter here.

    [ad]