Nigeria | Page 16 of 223

We spoke to five women about the products they swear by and how much they spend to keep their skin on point.

Although skincare isn’t cheap, it’s non-negotiable for many Nigerian women. But with prices driven up by inflation and fake products flooding the market, how much does it really cost to maintain good skin?

“My current stash is worth ₦350K, and 70% comes from PR packages.” — JRuqayyah, 23, Skincare Content Creator.

I started taking skincare seriously to fix my hyperpigmentation in 2020. My face was sunburnt and several shades darker than my body, and people in my school never let me forget it. It wasn’t a great feeling, but I also had no clue what to do about it.

Then Covid happened, and TikTok put me on to proper skincare. I started a basic routine: cleanser, moisturizer, and sunscreen. Over time, I built a structured routine and learned what worked for my combination (oily and dry) skin.

When I returned to school after the COVID-19 lockdown, the results were clear — my face was brighter, and I felt more confident in my skin.

By 2023, I started creating skincare content on TikTok. I currently have 9.2K followers and over 285K total likes. Because of this, I’ve received PR packages from over 10 international brands, including Anua, Centella, Purito, Heimish, Kaine, and Mixsoon.

This has significantly reduced my skincare costs, but I still buy products when necessary.

How Much I Spend (₦350k/ As needed)

My last personal skincare haul in January 2025 cost me ₦120K. I bought the Uncover On-the-Go & Essential Set, Skin Aqua Sunscreen, Hatomugi Body Sunscreen and B.Lab Matcha Cleanser.

At one point, I had up to 100 products from PR packages, but I had used up most of them by December 2024.

My current stash is worth around ₦350K, though 70% comes from PR packages.

Here’s a cost breakdown of some products in my stash:
- Uncover on-the-go kit (3 in 1) → ₦23,580
- Uncover Essentials (3 in 1) → ₦44,100
- Azelaic acid gel 20% → ₦9,300
- Beauty of Joseon Eye Serum → ₦17,000
- Centella Toner → ₦19,200
- Centella cleansing oil → ₦23,000
- Abib Eye Collagen patch → ₦48,528
- Anua Heartleaf clear pad→ ₦23, 200
- Anua niacinamide → ₦25,800
- Centella Sunstick → ₦21,000
- Centella ampoule → ₦16,500
- Purito Wonder Releaf → ₦22,500
- Centella Poremising Clay Stick Mask → ₦13,500
- Skin Aqua → ₦17,500
- Hatomugi body sunscreen → ₦14,100
- B.lab matcha cleanser → ₦10,900
- Total → ₦349,708
Shopping for skincare in Nigeria isn’t easy—some products are hard to find, and fake products are everywhere. Inflation and high exchange rates have also made everything more expensive and less accessible. To avoid counterfeits, I buy directly from brands or verified vendors like Teeka4, BeautyHut, BeautybyDaz, and BuyBetter. Skincare isn’t cheap, but healthy skin is worth every naira.

“I’d rather spend my feeding money on skincare. As long as my skin is giving, forget the money.” — Becca, 18, Student

I couldn’t stand looking at my face in the mirror when I was 15 years old. I had acne, textured skin, and open pores, and I was truly disgusted by myself. I knew I could look better if I took skincare seriously.

I tried every DIY remedy I found on the internet: honey and sugar scrubs, toothpaste, turmeric and honey, and rice water. Nothing worked. The breakouts wouldn’t stop, and my skin got worse. I ultimately had to see a dermatologist, who recommended my new routine. From then on, I went all in on proper skincare.

Let’s talk about the real problem—skincare is expensive. I spend about ₦105k every six months, and my dad is over it. He nearly lost his mind when he saw me buy a ₦22k Neutrogena face wash. He keeps reminding me that my mum also had skin problems in uni, but she didn’t spend all her parents’ money trying to fix them. But he doesn’t understand that I can’t stop now. Skincare has me in a toxic chokehold.

How Much I Spend (₦105k/ Twice a year)

Here’s a cost breakdown of products I buy every six months:
- Neutrogena Face Wash → ₦22,000
- Skin by Zaron Toner → ₦26,000
- Panoxyl Face Wash → ₦20,000
- Terminator Benzoyl Peroxide → ₦11,000
- Black Girl Sunscreen → ₦21,000
- Cotton Pad for Toner → ₦5,000
- Total → ₦105,000
Finding these products in Nigeria is another struggle; some products are impossible to find, and when you do, the prices make you question your life choices. I don’t get every product I need in the supermarket, so I order online or buy from overpriced beauty stores.

I’d rather spend my feeding money on skincare. As long as my skin is giving, forget the money. Now, people compliment my skin all the time. When I fix my lashes or nails, everything just pops differently. I used to have severe acne; now, I only have textured skin, and I know that’ll clear up soon, too. Whenever I feel a breakout coming, I just slap on some Terminator, and that’s the end of the story.

I know I’m stuck with skincare forever. If I go a few days without my routine, my skin starts to break out, and that’s when I remember I can’t afford to slack off. I do my routine once a day because, let’s be real, I only bathe once a day. The economy is hard, and I’m managing my products. But even with that, every penny I spend is worth it.

Skincare has changed my life, but it’s eating my money. No effort is wasted, though— it’s all for my own good.

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“My skin went from “I’ve had better days” to “Is that a glowing angel?”—Faizah, 21, Policy Research Specialist & Writer.

My skin used to be perfect, and I didn’t even know anything about skincare. I was just minding my business with Dudu Osun and Vaseline.

Fast forward to my first year of uni, my hormones switched up, and hormonal acne hit me with full force. That’s when I realised I needed to take skincare seriously.

After my first hormonal flare-up, I went into full-on skincare scientist mode, desperately trying to regain my flawless skin. I tried everything: Salicylic acid, glycolic acid, mandelic acid, tretinoin, Funbact-A, and even fermented rice water. If someone on the internet swore by it, I probably tried it.

And yes, I’ve spent ridiculous amounts on my skin — at some point, I was dropping half my allowance trying to fix it. My mum even took me to a doctor, who prescribed birth control pills to manage my hormones. But I suck at taking medication, so I just went back to Dudu Osun, vitamin C serum, and aloe vera gel. Somehow, my skin decided to chill.

Now, my routine is pretty basic. I realised that the fewer products I use, the more my skin thrives, so I keep it simple.

How Much I Spend (₦60k/ Month)

I shop monthly or as needed — it depends on how much time I have to pamper myself. If I’m feeling put together, it’s a monthly affair. Otherwise, I just restock when I notice a shortage or a sudden breakout crisis. My last purchase was the Arami Gluta Soap for ₦9,000.

Here’s a rundown of my most recent skincare spree:
- Revlon Natural Honey Lotion → ₦14,900
- Nivea Even Glow Body Care Lotion → ₦5,500
- Blue Seal Vaseline → ₦3,500
- Disaar Vitamin C Oil (for body) → ₦2,500
- Dudu Osun Soap → ₦900
- Arami Gluta Soap → ₦9,000
- Kojie-San Soap → ₦3,000
- Disaar Aloe Vera Gel → ₦2,000
- Dr Rashel Vitamin C Toner → ₦4,700
- Benzoyl Peroxide (Oxy 10) → ₦4,500
- Face Facts Ceramide Moisturizing Gel Cream → ₦5,000
- Estelin Tinted Sunscreen → ₦4,500
- Total → ₦60,000
The biggest game-changer for me is the Kojie-San Soap. It evened out my skin tone and made me feel more confident. Then there’s vitamin C—my personal “glow-in-a-bottle potion.” And don’t even get me started on benzoyl peroxide (OXY 10) — this one is non-negotiable.

The money, effort, and time have paid off. My skin went from “I’ve had better days” to “Is that a glowing angel?” There’s still room for improvement, but overall, I’m hitting my skin goals.

My biggest struggle is finding original products. Once I find a good plug, I stick to it like glue. I don’t betray my plug.

I used to be a Jumia loyalist. I only bought from verified stores and skimmed through the reviews like a detective looking for clues. My current plug is Skinnit; she always has everything I need.

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“My skin is brighter, my dark spots are fading, and I no longer get huge pimples.” — Sharon, 22, Content Marketer.

NYSC camp wrecked my skin. I reacted so severely to everything there—the water, the weather, the food—that I had huge breakouts everywhere. For months, I felt insecure about it. None of the random products I found worked. My last hope was to see a dermatologist, and she saved my skin.

She put me on a proper routine, and I started noticing changes. I still have acne and dark spots, and I won’t lie—I still feel insecure about them. But my skin is better than it’s been in years, and that’s progress.

How Much I Spend ( ₦80k/ As needed)

I don’t have a set restock schedule. If something finishes and I have the money, I buy it. Some months, I mostly spend ₦80k, sometimes more, sometimes less. My last haul included:
- Nivea Moisturizer → ₦5,000
- Panoxyl Benzoyl Peroxide Face Wash → ₦20,000
- Simple Toner → ₦5,000
- Dr Rashel Niacinamide/Alpha-Arbutin → ₦5,000
- Skin Aqua Sunscreen → ₦13,000
- Azelaic Acid → ₦14,000
- Face Cleanser → ₦10,000
- Rice Soap → ₦1,500
- Nizoral Cream → ₦6,000
- AloeVera Gel → ₦4,500
- Pei Mei Hyaluronic Acid → ₦3,500
- Total → ₦88,000
My skin is brighter, my dark spots are fading, and I no longer get huge pimples. But the cost, the struggle to find original products, and the stress drive me crazy.

“I should have just seen an aesthetician from the jump instead of wasting money on trial and error.” —Maryam, 22, UX Designer.

I’ve had oily, sensitive, acne-prone skin since I was 13, and every breakout leaves a dark spot. I tried everything — Oriflame, turmeric, honey — but nothing worked. By 19, I started getting facials at a spa, and they sold me “organic” skincare.

A year later, I switched to Lemonskinco, another skincare brand I found on Instagram that seemed even more natural. I’d spend up to ₦50k at once without really knowing what these products were doing to my skin.

The first week without the spa’s “organic” products was a disaster. I broke out badly, my skin felt paper-thin, and the dark spots worsened. Luckily, my mum had an aesthetician, so I followed her to an appointment. That’s when I learned I had topical steroid withdrawal from the products I’d been using. I had no clue what it meant, but that was my wake-up call. My aesthetician took me back to the basics: cleanser, moisturiser, sunscreen. My skin recovered. But the hyperpigmentation remained.

In January 2023, she recommended a chemical peel, which cost ₦50k. However, I had to prep my skin with Tretinoin for a month before I could do it. I was nervous because I’d seen intense chemical peel reactions online, and no one I knew had done it. But I trusted her.

The first peel made a huge difference, but I wasn’t consistent with Tretinoin and sunscreen, so my hyperpigmentation relapsed. I needed three treatments, and after the last one, which cost ₦105k in December 2024, I finally committed to my routine. I gave away all my random products and stuck to what worked.

Looking back, I should have just seen an aesthetician from the jump instead of wasting money on trial and error. A consultation back then was only ₦5k, and skin issues that could have taken six months to clear would have been gone in one or two.

I’ve figured out my skin problems: mild acne and hyperpigmentation. My main treatment is Tretinoin, and my routine is simple. I use a cleanser, toner, moisturiser, and sunscreen. On some days, I apply alpha arbutin; on other days, I use an AHA/BHA exfoliant and snail mucin for extra hydration.

How Much I Spend (₦50k/ Thrice a year)

I shop for skincare three times a year and prioritise quality over quantity. For example, I once bought a ₦7k Simple cleanser (100ml) that lasted two months, but when I spent ₦15k on a CeraVe foaming cleanser (473 ml), it lasted ten months, which was a better value for money. Some products last longer than others, so I don’t buy everything at once.

My last skincare haul in January cost:
- Acwell Licorice pH Cleanser → ₦17,500
- Face Facts Ceramide Moisturising Cream → ₦6,999
- La Roche-Posay Sunscreen → ₦19,500
- Tretinoin Gel → ₦5,600
- Total → ₦49,600 + ₦7,000 delivery → ₦58,000
I don’t mind the prices because these products cost almost twice as much on their official websites due to the naira-dollar rates. So, I buy from verified vendors who ship in bulk, and it’s totally worth it.

Skincare has been an emotional rollercoaster for me. It’s frustrating to spend so much money on products and still break out. But now, I know what works, and my skin is in a much better place.

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Also Read: What Are Hot Babes Spending Their Salaries On This Month?

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The Kwara State Government has disclosed how it attracted IHS Nigeria, one of the world’s largest independent multinational tower companies, to partner with them to build and equip the Ilorin Innovation Hub, considered the first of its kind in West Africa and the best thing to emanate from north-central Nigeria.

Executive Chairman of the Kwara State Internal Revenue Service, Mrs. Folashade Omoniyi made this known while featuring in a fireside chat staged as part of activities for the program kick-off of the Hub. According to her, it all started in May 2020 when the Governor Abdulrahman AbdulRazaq-led administration in the State stopped demanding the N300 million being generated annually from Right of Way permit to telecom operators who want to lay fibre optic cable in the state.

The decision, according to her, was taken to incentivise possibilities and prospects which such digital infrastructure holds for the people of Kwara. IHS Nigeria was almost being extorted of the discontinued levy by some phony consultants before they met with the Internal Revenue Service boss who advised them against paying the purported license fee. In line with the directive of the Governor, she asked the company to only pay one naira (N1) per kilometer for the sake of paperwork.

While corroborating Mrs. Omoniyi’s disclosure at the same fireside chat, the Chief Operating Officer of IHS Nigeria, Kazeem Oladepo disclosed that they had to step into the Ilorin Innovation Hub project of the State Government following their Chief Executive Officer, Mohamad Darwish’s disposition that IHS Nigeria gives something in return to any state that grants them waivers of some sort or eases their operations. This is even as the sustainability ring to the government’s initiative further piqued the interest of IHS Towers since Sustainability is among the organisation’s core values.

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L-R: Chief Executive Officer, Future Africa, Iyinoluwa Aboyeji; Executive Chairman, Kwara State Internal Revenue Service, Mrs. Folashade Omoniyi; and Senior Vice President & Chief Operating Officer, IHS Nigeria, Kazeem Oladepo, during a fireside chat at the program’s kickoff of the Ilorin Innovation Hub, powered by IHS, on Thursday, February 27, 2025 in Ilorin, Kwara State.

Unique Value Propositions of the State-of-The-Art Facility

Earlier at a press conference, the project manager, Gbenga Adegbiji disclosed that “The total land mass is about 13,000 square meters. The footprint of the building is about 4874 square meters and can host about 700 people in terms of capacity. One thing that is unique about this innovation is the fact that it is all green. We have about 631 units of 555KW Solar PV panels which powers the entire building. Put in context, this system will power about 200 units of three-bedroom flats from this building. That is the capacity you are having here.

Frontal view of the Ilorin Innovation Hub

“About 584 megawatts of annual energy yield is being generated here with solar and we have about 600 kilowatt per hour of battery storage system. Looking at what it costs to be on Band A in Lagos, this is about N120 millions of energy savings, thanks to the power of IHS. If you look at it in terms of the over all lifespan of the energy storage system, you will be saving over N2 billion per annum.

“The cooling system consists of 96 units of DX cooling systems. To put it in context, you can actually power about eight units of four-bedroom flat from this building and this is supported by the solar system. What this means is that the Hub does not need to be connected to a generator. This is so that the over all cost of operation can actually be minimized.”

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L-R: Head of Digital Health Innovations, Co-creation Hub (CcHub), Stephanie Okpere; Chief Executive Officer, Future Africa, Iyinoluwa Aboyeji; Chief Executive Officer, IHS Nigeria, Mohamad Darwish; and Managing Director, Ilorin Innovation Hub, Temi Kolawole, during the press conference announcing the program kickoff at the Ilorin Innovation Hub on Thursday, February 27, 2025, in Ilorin, Kwara State.

While assuring of efficient management of the facilities, Adegbiji stated that they are poised to correct the impression that there is lack of maintenance culture in Nigeria. To prove this, they will ensure that every component of the infrastructure installed in the Ilorin Innovation Hub remains exactly the same way it is for the next 10 years.

The press conference was followed by a facility tour where the Hub’s managing director, Temi Kolawole led the Governor’s representative and commissioner for tertiary education, Dr. Mary Ande, the IHS Nigeria chief executive officer Mohamad Darwish, and other dignitaries round the architectural masterpiece. He explained that open spaces inside the building are without ceiling to accord the complex industrial feel, adding that the designs, porches, lounges, seminar/conference rooms and general ambience are to induce creativity, fertilization of ideas and digital innovation.

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A facility tour of the Innovation Hub

The Unicorn-incubating Hub Welcomes All Nigerians with Ideas

During the main event of the day, IHS Nigeria boss told the story of the Company’s humble beginning of owning just one telecom mast in Nigeria into having 39,428 telecom towers across different continents of the world and being listed in the New York Stock Exchange (NYSE). He said that he expects the Ilorin Innovation Hub to be the trajectory of startups which after being incubated in Ilorin, will become unicorns few years later.

The chief executive maintained that if IHS Towers which didn’t have such support system in its formative years could become the biggest Africa-based company to ever list on the NYSE, techpreneurs who will be passing through the Ilorin Innovation Hub programs can.

According to Darwish, “Nigeria can create companies that can compete globally. This Hub is meant to create several mini IHS’s that will start small and grow to become global superpowers. This Hub is open to people from Kwara State, but I also have to say it is also open to people from across Nigeria. We have to open it to everyone and see how we can enable people from Katsina to Imo to Abia to everywhere to come to this place and benefit from it.

Chief Executive Officer, IHS Nigeria, Mohamad Darwish

“This place is supposed to welcome people who want to know something; they may have an interest in AI. You have an interest in learning something? Come to this Hub, enroll for some of the courses, learn the basics and if you like it, go on and become an expert. You want to come up with an idea? Come to this Hub, meet with people like you, figure out which is the best idea and then this Hub will help you set up your company and put it on track.

“The Hub will help you even talk to financiers who could be interested in financing your company and give you funding. This was not available for companies like IHS. This is why we are investing in this Hub because we want to remove difficulties and challenges preventing young Nigerians from pursuing their dreams.”

A Leisurely End to the Pleasant Day

Winners of the Art Hackathon with the Chief Executive Officer, IHS Nigeria, Mohamad Darwish

The program launch of the Ilorin Innovation Hub had a perfect finishing with a Soiree that held outdoors in the cool of the day. It was a time to unwind, the highpoint of which was the celebration of the Art Hackathon winners whose drawings and paintings will adorn the hallway and lobby of the Hub building.

While 125 applicants entered the competition, 25 paintings were shortlisted, 10 emerged as winners for their masterpieces which the Chief Corporate Services Officer of IHS Nigeria, Dapo Otunla upheld as a reflection of the impressive talent that resides in Kwara State.

In no particular order, the winners are as follows: Stephen Ifebajo, Oluremi David, Alani Timilehin, Oluwatobiloba Ogunjobi, Endurance Oye, Yusuf Abdulateef, Ifeanyi Ofemeje, Kabir Isah, Iyowu Michael, Solomon Okehi. After they had all walked the gathering through the thought process that inspired their works, each of the visual artists received five hundred thousand naira (N500,000) prize money from IHS Nigeria.
In Nigeria’s ever-evolving job market, some careers stand out for their high earning potential. Whether you’re just starting or looking to switch careers, salary prospects matter. However, not all industries reward professionals equally.

Using the latest data from Salary Explorer, a trusted global salary database, we’ve compiled a ranking of Nigeria’s highest-paying careers across various sectors to help you identify the most lucrative career paths in 2025.

Here are the highest-paying careers per sector in Nigeria:

1. Healthcare

Healthcare professionals, particularly surgeons and specialists, earn some of the highest salaries in Nigeria due to their work’s complexity and high stakes.

a. Surgeon – Cardiothoracic
- Average monthly salary: ₦1,480,000
- Basic Job description: Performs life-saving heart transplants and other cardiovascular procedures.
b. Surgeon – Orthopedic
- Average monthly salary: ₦1,460,000
- Basic Job description: Specialises in treating musculoskeletal conditions, including fractures and joint replacements.
c. Surgeon – Plastic Reconstructive
- Average monthly salary: ₦1,410,000
- Basic Job description: Focuses on reconstructing damaged or deformed body parts.
d. Chief of Surgery
- Average monthly salary: ₦1,390,000
- Basic Job description: Leads the surgical department, overseeing operations and medical staff.
e. Invasive Cardiologist
- Average monthly salary: ₦1,380,000
- Basic Job description: Specializes in procedures like angioplasty and stent placements to treat heart conditions.
2. Finance and Accounting

Financial experts who manage investments, risks, and corporate finances also earn substantial salaries.

a. Risk Management Director
- Average monthly salary: ₦712,000
- Basic job description: Identifies and mitigates financial risks for businesses and investments.
b. Investment Advisor
- Average monthly salary: ₦705,000
- Basic job description: Provides clients with investment strategies to maximise returns.
c. Finance Director
- Average monthly salary: ₦702,000
- Basic job description: Oversees a company’s financial health, budgeting, and strategic planning.
d. Financial Manager
- Average monthly salary: ₦684,000
- Basic job description: Manages financial reports, investment activities, and profitability for businesses.
e. Economist
- Average monthly salary: ₦651,000
- Basic job description: Analyses economic data to forecast trends and advise businesses or governments.
3. Marketing

Marketing professionals are crucial in business growth, and their salaries reflect their impact.

a. Brand Director
- Average monthly salary: ₦630,000
- Basic job description: Leads brand strategy, ensuring strong market positioning and brand equity.
b. Chief Marketing Officer (CMO)
- Average monthly salary: ₦616,000
- Basic job description: Oversees all marketing efforts, from advertising to market research, to drive business growth.
c. Marketing Manager
- Average monthly salary: ₦605,000
- Basic job description: Plans and implements marketing campaigns to increase sales and brand awareness.
d. Chief Product Officer (CPO)
- Average monthly salary: ₦604,000
- Basic job description: Oversees product development, ensuring alignment with business and market needs.
e. SEO Marketing Strategist
- Average monthly salary: ₦596,000
- Basic job description: Specialises in SEO and paid search strategies to drive online traffic and sales.
4. Architecture

Architecture and project management roles come with competitive salaries due to the technical expertise required.

a. Architectural Manager
- Average monthly salary: ₦607,000
- Basic job description: Leads architecture projects, from design to execution.
b. Architecture Consultant
- Average monthly salary: ₦575,000
- Basic job description: Advises on architectural designs and urban planning.
c. Assistant Architectural Manager
- Average monthly salary: ₦558,000
- Basic job description: Supports architectural managers in project execution.
d. Design Manager
- Average monthly salary: ₦535,000
- Basic job description: Supervises the design process of buildings or products.
e. Facilities and Project Manager
- Average monthly salary: ₦528,000
- Basic job description: Oversees the maintenance and construction of large facilities.
5. Aviation

Aviation professionals, especially pilots and airline managers, command high salaries due to the industry’s strict requirements and responsibilities.

a. Airport Services Manager
- Average monthly salary: ₦704,000
- Basic job description: Manages airport operations and customer service.
b. Aviation Manager
- Average monthly salary: ₦678,000
- Basic job description: Oversees airline operations, from logistics to safety.
c. Airlines Sales Director
- Average monthly salary: ₦695,000
- Basic job description: Handles airline ticket sales and revenue strategies.
d. Aviation Safety Manager
- Average monthly salary: ₦625,000
- Basic job description: Ensures compliance with safety regulations in the aviation industry.
e. Aircraft Pilot
- Average monthly salary: ₦625,000
- Basic job description: Operates and navigates aircraft for commercial or private airlines.
6. Education and Teaching

Educators in leadership roles, such as deans and professors, earn some of the highest salaries in the education sector.

a. Dean of Faculty
- Average monthly salary: ₦651,000
- Basic job description: Oversees academic programs, faculty recruitment, and research initiatives.
b. Professor
- Average monthly salary: ₦637,000
- Basic job description: Conducts research, teaches university courses, and mentors students.
c. College Dean
- Average monthly salary: ₦618,000
- Basic job description: Manages a college’s academic affairs, staff, and student programs.
d. Lecturer
- Average monthly salary: ₦604,000
- Basic job description: Teaches undergraduate or postgraduate courses at a university.
e. Head of School
- Average monthly salary: ₦559,000
- Basic job description: Leads school operations, curriculum planning, and staff management.
7. Energy

The energy sector, particularly oil, gas, and mining, offers high salaries due to the technical skills and risks involved.

a. Operations Manager
- Average monthly salary: ₦714,000
- Basic job description: Oversees production and operational efficiency in energy companies.
b. Geophysicist
- Average monthly salary: ₦600,000
- Basic job description: Studies the Earth’s physical properties to find natural resources.
c. Mining Project Manager
- Average monthly salary: ₦563,000
- Basic job description: Leads mining operations, from exploration to extraction.
d. Engineering Geologist
- Average monthly salary: ₦559,000
- Basic job description: Evaluates geological conditions to guide construction and mining projects.
e. Exploration Manager
- Average monthly salary: ₦556,000
- Basic job description: Manages the search for oil, gas, and mineral resources.
8. Engineering

Engineering roles, particularly in management and production, offer competitive salaries due to the technical expertise required.

a. Engineering Production Manager
- Average monthly salary: ₦586,000
- Basic job description: Oversees manufacturing processes to ensure efficiency and quality.
b. Director of Engineering
- Average monthly salary: ₦575,000
- Basic job description: Leads engineering teams and project developments.
c. Field Engineering Manager
- Average monthly salary: ₦533,000
- Basic job description: Supervises engineers working on on-site projects.
d. Engineering Key Account Manager
- Average monthly salary: ₦495,000
- Basic job description: Manages engineering-related business relationships and client accounts.
e. Electrical Engineering Manager
- Average monthly salary: ₦489,000
- Basic job description: Oversees electrical systems design and maintenance in industrial settings.
9. Information Technology (IT)

IT professionals, particularly those in cybersecurity, project management, and development, receive competitive salaries.

a. Online Banking Manager
- Average monthly salary: ₦563,000
- Basic job description: Oversees digital banking platforms and customer experience.
b. Director of Application Development
- Average monthly salary: ₦570,000
- Basic job description: Leads teams in designing and maintaining software applications.
c. Chief Information Officer (CIO)
- Average monthly salary: ₦558,000
- Basic job description: Manages IT strategies and digital transformation in companies.
d. Chief Information Security Officer (CISO)
- Average monthly salary: ₦540,000
- Basic job description: Protects company data and systems from cyber threats.
e. Information Technology Project Manager
- Average monthly salary: ₦550,000
- Basic job description: Oversees IT project implementation and delivery.
10. Law and Legal Services

Due to the importance of their roles, legal professionals, particularly judges and senior lawyers, earn some of the highest salaries in Nigeria.

a. Supreme Court Judge
- Average monthly salary: ₦982,000
- Basic job description: Presides over the highest court cases in the country.
b. Administrative Law Judge
- Average monthly salary: ₦936,000
- Basic job description: Handles regulatory and administrative legal disputes.
c. General Counsel
- Average monthly salary: ₦850,000
- Basic job description: Acts as the chief legal advisor for a corporation.
d. Legal Services Director
- Average monthly salary: ₦834,000
- Basic job description: Oversees legal teams and company compliance with laws.
e. Litigations Attorney
- Average monthly salary: ₦802,000
- Basic job description: Represents clients in legal disputes, preparing cases, arguing in court, and negotiating settlements.
Bottom Line:

If you’re aiming for financial success, these careers offer some of the highest salaries in Nigeria. While many require years of education and experience, the financial rewards make them worthwhile.

Editor’s Note: Salary figures are based on 2024 data from Salary Explorer and are subject to change. Individual earnings may vary based on multiple factors.

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: 20 Made-in-Nigeria Products That Are Cheaper Than Their Imported Alternatives

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When Nigerians dream of moving to the UK for better opportunities, they rarely picture sleepless nights, high-risk patients, and barely scraping by. Yet, for thousands of Nigerians who have made the move, care and support work is the stepping stone to a better life — or at least survival.

We spoke to four Nigerians to understand what it means to build a life in the UK’s care sector and how their income compares to what they left behind in Nigeria.

“The hardest part is when they shout at me, but I’ve developed a thick skin.” —Ehi, 32, £2,000/ Month.

When I moved to the UK in 2023, I left behind a stable life as a dentist in Lagos. Back home, my white coat and years of training earned me respect. Now, as a support worker in Nottingham, I spend my days assisting people with disabilities and mental health challenges. While it’s meaningful, it doesn’t demand the same level of critical thinking or problem-solving I once thrived on, and I miss that.

I had to find a way to survive financially while pursuing my long-term goal: passing the UK dentist licensing exams, which cost thousands of pounds. Support work was the obvious short-term choice.

It wasn’t always easy. When I first arrived as a student, strict work-hour limits meant I barely scraped by. At the time, I even worked in a warehouse, pushing through shifts that paid £500 monthly — a striking contrast to my ₦278k base salary (plus ₦300k–₦500k in commissions) as a Lagos dentist.

But now that I’ve completed my master’s in public health, I work full-time in support, earning £2,000 per month. My wife, who came as my dependent, also works in a care home, bringing in £1,500 monthly. Together, we manage rent, bills, and savings, painfully aware that every penny counts toward my next career move.

My ultimate goal is to secure sponsorship, pass my licensing exams, and return to practising dentistry, where salaries range from £50k—£100k per year. With sponsorship, I’d get a three-year work permit, which can be renewed. After working for five years in total, I can apply for Indefinite Leave to Remain (ILR), essentially permanent residency. If we have a child along the way, that could also open a pathway to staying. Still, British citizenship isn’t automatic—the child would be considered British property, meaning the government allows parents to stay to care for them.

For now, I’m relying on support work as my backup plan to secure sponsorship, remain in the UK legally, and eventually transition into my profession.

In the meantime, I put in 45-hour weeks, mostly night shifts, balancing exhaustion with hoping for something better. Support work isn’t physically draining, but dealing with patients struggling with addiction, mental health issues, or aggressive behaviour takes a mental toll.

The hardest part is when they shout at me, but I’ve developed thick skin. We use deescalation techniques — calm talking, removing dangerous objects, keeping a safe distance. Most times, they calm down and even apologise.

But despite everything, the UK is still an adjustment.

I miss the hustle and bustle of Lagos. The UK is boring. Everyone just minds their business.

For now, though, minding my business means securing my future. This support work is my backup plan. I’m laying low, putting in the hours, and waiting for the moment I can transition back to dentistry.

“An elderly man with dementia mistook me for his wife at a care home.” — Ikram, 25, £2,000/ Month.

I moved from Nigeria in September 2022 to pursue a master’s degree in digital marketing. Like many Nigerian students who needed a job to support themselves, care work seemed like the most viable option.

I worked for an agency that placed me in various care homes and support settings. The work was often mentally challenging. I encountered residents with a range of mental health conditions, some of whom could become aggressive or self-harm. We were trained in de-escalation techniques and restraint, but it was still tough.

There were days I had to cycle through pouring rain at 6 a.m., racing against time to make it to a support work shift because I couldn’t afford the £7 train fare while waiting for the previous week’s pay.

Then there were the lighter moments — like the elderly man with dementia who mistook me for his wife at a care home. He locked his hands in mine, brought them to his lips, kissed them, and spoke to me as if I were her. Then he said, “They have me locked up here, but as long as you’re with me, Caroline, I’ll be good.”

As a support worker, I earned £11.50 per hour, raking in around £500/ week. However, the shifts weren’t always constant, and I sometimes had to rely on my mum in Nigeria for financial support. I left care work after a dispute over my timesheet with a resident’s family member.

I got my first proper job in the UK as a marketing executive in November 2023, but my role was made redundant in January. Subsequently, I did freelance work for friends while searching for a permanent position. I finally landed a job as a digital marketing manager at the University of Wolverhampton in June 2024, which pays me £28,000 a year.

“It took five years to secure a UK Support Work Visa.” — Akinyemi, 27, £2,500/ Month.

I loved caring for my patients at my job as a healthcare assistant in a Nigerian private hospital. But the pay was barely enough to survive. I earned ₦150k per month, which covered my basic needs but left no room for savings or a future. I wanted more — better career growth, stability, and financial security.

In 2023, I moved to the UK on a work visa as a support worker after years of searching.

I studied Public Health in Nigeria, so working in healthcare felt like a natural fit. Now, I earn between £2,000–£2,500 per month, depending on my shifts. That said, I primarily work 30-40 hours a week.

While my financial situation has improved, it’s not an overwhelming surplus, mainly because the UK’s cost of living is much higher than when I lived in Nigeria. But for me, it’s more about financial stability and growth opportunities rather than just getting by. I can now save, support my family back home, and plan for the future, making a significant difference for me.

But the job itself is tough. I assist residents in care homes with personal care, meals, and daily activities. Some have severe mental health conditions or physical disabilities, and the work can be physically and emotionally draining. But there are rewarding moments — like knowing I’ve made someone’s day a little easier.

Adjusting to life in the UK wasn’t easy. Beyond the job, I had to get used to direct communication, strict workplace protocols, and even small cultural shocks — like how seriously the British take queues. But over time, I’ve learned to navigate the system and balance my work with my personal life.

I started looking for sponsorship jobs in 2018 and finally secured one in 2023. Many people rush the process and pay agents ridiculous sums, only to arrive and find no job waiting for them. But I handled everything myself — just Google, apply directly on company websites, and be patient. It took years, but in the end, it was worth it.

I have better financial stability, career prospects, and exposure to a well-structured healthcare system.

In the long term, I plan to advance in healthcare, possibly through further training or specialisation. Whether I continue progressing in the UK or explore opportunities elsewhere, my goal remains to build a fulfilling and sustainable career in healthcare.

“I lost my first support work because they snitched on me.” — Ayodele, 25, £1400/ Month.

I lost my first support work because a white woman snitched on me. She said I was sleeping on the job — which, to be fair, I was. But I got another one with the same pay, so I moved on.

Now, I work as a support worker in the UK, putting in 30–32 hours a week. It’s not physically demanding, so I manage to fit in other things — my art, partying, and hanging out with friends. But financially? It’s a constant battle. After taxes, I take home around £1,400. From that, £500 goes straight to debt settlement; some money I loaned to help me settle in the UK still needs to be paid off, leaving me with £900. Then rent takes £650, which leaves just £250 for everything else: food, transport, basic survival.

Before I finished my master’s in September 2024, I was earning £1,800. Then the tax season hit, and the tax management department for the UK government, HMRC (Her Majesty’s Revenue and Customs), started taking out £400+. I have to pay income tax for every hour I spend working, and my employer deducts it directly from my paycheck. The more you work, the more they tax you, so even picking up extra shifts doesn’t always help.

In Nigeria, I was raking in around ₦200,000/month between drawing, painting, and making portraits. However, after university, I struggled to find a good job with my biochemistry degree, so I took the next step: a one-year master’s in Public Health at the University of Birmingham. With family support and small loans, I crowdfunded my first instalment — £3,000 of the £14,000 tuition — then paid the rest throughout the year with my job as a support worker.

Now, I support five residents with different disabilities. One has dyslexia and struggles with learning, so I help him review his engineering coursework, even though my degree is in biology. Another has Down syndrome, diabetes, and other mental, psychological and health conditions, so I handle their medication and meal prep. I keep my smiling face on even when I’m having a bad day, give them their medication, and prepare their food. It was tasking at first, learning how they like their meals, but now I can whip up food that makes them happy.

The biggest adjustment for me has been learning how to provide emotional support for my residents. Back home, I never really had to consider people’s feelings. Here, I’ve had to learn patience, empathy, and how to put others first. However, I also don’t let myself get too emotionally involved; I keep my shifts strictly about work so I can focus on my personal life.

I don’t have a long-term plan yet. I just want to settle down with a partner, get my indefinite leave to remain and start a business at some point. Whatever it is, I’m staying put in the UK and grinding through the routine until I find something better.

Bottom Line

For these Nigerians, care work is more than a job. It’s a balancing act between survival and ambition. Some see it as a stepping stone, others as a struggle to stay afloat, but all of them are navigating a system that demands resilience.

Click to join the waitlist.

Also Read: What It Really Costs to Move Out as a Young Person in Nigeria

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Remember when we told you the Citizen Townhall wanted to help you lend your voice to the state of affairs in Nigeria? The event finally happened; all the cool people came through, and it was everything we thought it’d be. If your FOMO caught up with you, this full recount of everything that happened at the town hall will fill you in.

About the Citizen Townhall

First of all, the Citizen Townhall 2025 was a hybrid event held on February 25 in Abuja. It was organised by Zikoko Citizen in partnership with Luminate to serve as a platform to bring together stakeholders to discuss the crucial role that young people play in Nigeria’s democracy and development.

This year, for its first edition ever, the town hall featured industry experts, changemakers, and, of course, young Nigerians who brainstormed ideas for improving youth involvement in politics and governance. It also featured the launch of a data-driven report on youth insights.

A welcome address and an interactive session

The event started with a welcome address by Tomiwa Aladekomo, the CEO of Big Cabal Media (BCM), Zikoko Citizen’s parent company, emphasising the role that Zikoko Citizen has played in keeping young Nigerians informed and aware, the importance and potential of the event’s outcome, the report.

The welcome address was followed by a pretty interactive discussion among the attendees– you just had to be there.

The spice in the conversation first came in through a statement made by an attendee from the Advocate for Human Rights and Development, who said he believes the Nigerian youth are docile and not interested in politics. Chukwudi Ozalla, from the Advocacy for Change Initiative, agreed with him, while another attendee, Mathew Dennis, argued that this was kind of untrue as he believes Nigerian youths are not given the opportunity to participate in leadership.

This was followed by strong opinions from Abdullahi Faruk of Activista, who pointed out that young Nigerians are active and interested and have shown this in various ways, including the EndSars protests and EndBadGovernance protests, both of which have shown the governments’ intolerance to constructive criticism and complaints. If you think it stopped there, you’re wrong– other attendees gave strong opinions on the factors that have blocked young people from participating in governance. You should probably watch the full conversation here.

A keynote address

The conversation was followed by a keynote speech by Toyin Akinniyi, the Vice President of Luminate, Africa. Her speech touched on various areas such as the efforts of young people (in Nigeria and Africa) to contribute to good governance and development. She pointed out that a bulk of these activities take place in online spaces and that it is important to figure out how to make those spaces safe for them as “erosion of rights to free expression online, online harassment, weak data protection threaten their ability to participate fully and safely.”

Akinniyi’s speech also emphasised the importance and timeliness of the Citizen Report. “It provides us with an opportunity to redefine youth engagement in governance, particularly in a digital era where technology and Artificial Intelligence (AI) are redefining civic participation,” she said.

A second interactive session

Akinniyi’s keynote address was followed by another interactive conversation which dwelled on one of the things she addressed in her speech– the use of social media by young people as spaces for discussions involving democratic change as well as the threat that misinformation poses a threat to civic engagement among the youth. This interactive session was just as engaging as the first, with several attendees sharing their diverse opinions on key issues raised both by the host and fellow attendees.

Panel one– Youth as Catalysts for Democratic Change.

The discussions gave way for the first panel of the day titled Youth as Catalysts for Democratic Change. The panel was hosted by Osaruonamen Ibizugbe, Project Officer, Media in Gender, at the Centre for Journalism Innovation and Development (CJID). It was made up of three panellists– Busola Ajibola, Deputy Director of the CJID; Chioma Iruke, a FactChecker at the Centre for Democracy and Development (CDD) West Africa, and Mahmud Jafar, a Senior Analyst at Gatefield.

The panel discussed a number of issues, such as the impacts of the Not Too Young To Run bill in giving youths the opportunity to effect change through politics and the role of traditional and religious leaders in influencing civic change among young people, among others. Some of the panel’s resolutions are that:
- There’s a need to educate young people about the direct impacts of their participation towards the wellbeing of the country’s democaracy and development.
- Young people at low levels must be trained on how to actively engage the government and how to drive change.
- Town halls should be organised in rural areas to engage young people on the importance of civic engagement as a tool for change.
Panel Two– The Role of The Media In Amplifying Youth Voices.

The next panel to follow was the second panel titled The Role of The Media In Amplifying Youth Voices. The panel was hosted by Chigozie Victor, Senior Editor at Zikoko Citizen. It was made up of three other panellists– Rotimi Olawale, Executive Director at YouthHubAfrica, Samad Uthman, Digital Investigative Journalist at AFP, and Ope Adetayo, Nigeria Correspondent at Reuters.

The panel examined various issues like the representation of the youth in the media and how it impacts their participation in politics and the role of the media in curtailing misinformation among others. Some of the panel’s resolutions were that:
- There’s a need for positive representation of the youth in the media
- There’s a need to tell both good and bad stories about young people equally
- The media has a role in clamping down on the misinformation that discourages young people from participating in Politics.
The panel was followed by a tea break and an interactive conversation among attendees and speakers about the discussions and issues raised in the first and second panels.

Report presentation and an interactive session

The Citizen Report is a data-based insight into how young Nigerians are affected by misinformation and digital threats, how they are trying to navigate it as well as what the government and other stakeholders can do better.

The presentation of the report was done by Anita Eboigbe, the Chief Operating Officer of Big Cabal Media. While pointing out some of the key findings of the report, Eboigbe pointed out the need for the media, Civil Society Organisations (CSOs) to use this information to make the digital space safe and conducive both as a place for Nigerian youths to interact with each other, find information, and drive democratic change.

The presentation was followed by an interactive discussion among the attendees about the findings of the report, particularly on the low level of trust in traditional media.

Third panel– Best Practices for Co-Creating Initiatives With and For Young People

The last panel, titled Best Practices for Co Creating Initiatives With and For Young People. This panel was hosted by Zubaida Baba Ibrahim, Sub-Editor at Nigeria Health Watch, and it was made up of two other panellists– Amina Salaudeen, Women’s Rights & Safety Officer at TechHer, and Titilope Fadare, Assistant Production Editor at Science Development Network, Sub-Saharan Africa (English).

The panel examined various issues, like the need to hear from young people before developing projects and initiatives directed at them and the challenges and flaws in programs directed at young people among others. Some of the panel’s conclusions include:
- The need to hear from young people before creating programs and initiatives for them.
- The need to create programs that impact as many young Nigerians as possible rather doing creating surface level initiatives that have little to no impacts on them.
- The need to encourage the implementation of initiatives among young people by giving them a sense of ownership in the programs created for them.
The final panel was followed by a vote of thanks by Anita Eboigbe to mark end of the event. While thanking the participants and Zikoko Citizen’s partners, Luminate, Eboigbe pointed out the need for the conversations had at the townhall to go beyond the venue, as well as the need for the findings of the Citizen Report to serve as directives for stakeholders who make decisions that impact young Nigerians. She also emphasised Zikoko Citizen’s commitment to holding more events that advocate for young people in Nigeria.

“We want to develop this (the Citizen Townhall and The Citizen Report) and continue to create a space for us to have data and for us to gather the ecosystem together to do the things that really matter. We want to do this as people who have understood and continue to try to understand young people,” she said.
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Artificial Intelligence has become integral to our daily lives, powering everything from research to recommendation systems, analysis, image generation, and repetitive tasks. However, these AI systems don’t become ‘intelligent’ on their own — they require extensive human training.

This growing need has created a lucrative opportunity for people looking to earn income by training AI systems. We reviewed six online platforms where you can earn extra cash to train AI in Nigeria.

What It Means to Train AI

Training AI is all about teaching an artificial intelligence system how to think, recognise patterns and make better decisions. But it doesn’t learn on its own; it needs human input, and that’s where you come in.

As an AI trainer, your tasks could be as simple as labelling images, transcribing audio, or sorting text into categories. Sometimes, it’s rating AI-generated content, giving feedback on chatbot responses, or recording voice samples so the AI tool can understand different accents and dialects.

These contributions help AI models learn and improve by creating the datasets they rely on. While AI can pick up patterns over time, human guidance ensures it develops accurately and ethically, making smarter and more reliable decisions.

Here are seven platforms where you can get paid to train AI:

1. Mindrift AI

Mindrift AI connects experts, known as AI Tutors, with opportunities to train generative AI models by creating high-quality training data. Tutors work in fields like writing, law, and medicine, helping AI produce accurate and ethical responses through carefully crafted prompts and refinements. The platform offers flexible work, onboarding training, and a supportive community.

AI Tutors can earn around $300 per week, with payments processed through Payoneer—an option available for Nigerians.
- Pay: Around $300 per week.
- How you get paid: Payoneer (available to Nigerians).
2. Data Annotation Tech

If you have a degree in maths, physics, biology, or chemistry, enjoy solving complex problems, and want the freedom to work on your own schedule, this opportunity is perfect for you. Data Annotation Tech provides high-quality annotation services for AI projects in fields like healthcare and autonomous vehicles. Annotation involves labelling or categorising data—such as tagging images, transcribing audio, or evaluating AI responses—to help machine learning models improve accuracy. Their projects typically pay $20+/hour, depending on the complexity and expertise required.

As a contributor, you can access long-term projects with virtually unlimited work if you maintain high-quality performance. The work is fully remote, and payments are processed through PayPal or Payoneer. Tasks range from survey-style work to interactive chatbot training and creative writing. If you’re detail-oriented, creative, and self-motivated, this is a great way to apply your expertise while earning competitively in the AI industry.
- Pay: $20+/hour, depending on the task and expertise required.
- How you get paid: PayPal or Payoneer.
3. Get paid to train xAI (FKA Twitter)

xAI is hiring AI Tutors to train Grok AI, Twitter’s chatbot. This is a 6-month, full-time remote contract job that might be extended based on project needs. As an AI Tutor, you will review and improve AI responses, provide high-quality written input, and label data to boost the chatbot’s accuracy.

To apply, you should have strong reading, writing, and research skills and be able to analyse and refine AI outputs. No tech experience is needed, but you must be detail-oriented and able to work independently.

This opportunity is open to Nigerians and remote workers worldwide with a stable internet connection, a laptop (Windows 10 or macOS BigSur 11.0+), and a smartphone. Pay is $35-$65 per hour, based on skills and experience level.
- Pay: $35–$65 per hour.
- How you get paid: Not specified.
4. Pareto AI

Pareto AI connects experts with AI companies to improve machine learning models. As a contributor, you’ll work on tasks like reviewing AI responses, creating training examples, and labelling data. You can start with simple tasks and move on to more advanced projects as you gain experience.

They offer competitive pay depending on the type of work, your skill level, and the time you put in. You can earn per task, per batch, or hourly for more complex projects, with bonuses for high-quality work. Payments are processed weekly via PayPal, which is available for Nigerians.
- Pay: Varies by task, batch, or hourly rate — competitive bonuses for high-quality work.
- How you get paid: Weekly payments via PayPal (available to Nigerians).
5. Open Train AI

OpenTrain AI connects freelancers with AI training and data labelling jobs across different platforms. Instead of working for one company, you can take on various projects, such as labelling images, sorting text, or testing chatbots. This helps you build experience with different AI tools while earning money.

You set your own rates and get paid directly by clients. Payments go through a secure escrow system, where clients pre-fund the work, and you get paid once it’s approved. This ensures fair pay and fast payouts, usually within a day. OpenTrain AI supports payments in over 100 countries, making it accessible to Nigerians looking for flexible, remote work.
- Pay: Set your own rates and get paid per project.
- How you get paid: Secure escrow system with fast payouts (usually within a day). Supports over 100 countries, including Nigeria.
6. RWS Train AI

RWS TrainAI is a freelance platform where you can work remotely to train AI models. As part of the TrainAI community, you’ll take on flexible, work-from-home tasks like rating AI-generated content, collecting and creating data, and annotating text, images, audio, or video. Roles include Online Raters, Data Collectors, Data Annotators, Search Engine Evaluators, and Ad Evaluators. You can also work on specialised AI projects that require precise data preparation.

Freelancers set their own schedules and get paid based on project complexity and skill level. Payments are processed through PayPal, making it accessible for Nigerian contributors and freelancers worldwide. You can easily sign up, complete training, and start working on tasks that match your skills.
- Pay: Varies by project and skill level.
- How you get paid: Via PayPal.
Bottom Line

AI training isn’t just a way to make money; it’s a chance to shape the technology that’s changing how we work and live. Whether you prefer simple tasks like rating chatbot responses or more advanced work like refining AI-generated content, there’s an opportunity for you.

To maximise earnings, focus on niche areas where your expertise adds value, maintain high accuracy, and master key annotation tools. The demand for human trainers will only grow as AI evolves, making now the perfect time to get started in this expanding field.

Editor’s Note: This article is for informational purposes only. We encourage you to do your own research before signing up. Verify payment methods, job requirements and terms to ensure they align with your expectations.

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

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Mr Peanutbutter studied medicine at the Obafemi Awolowo University, Ilé-Ifẹ̀, but these days, he makes up to ₦700,000 weekly trading gold in the forex market without ever owning a single ounce of the metal.

Here’s how he does it.

As Told To Aisha Bello

I’m called Mr Peanutbutter in the trading community — a name I got from my favourite TV show, BoJack Horseman. I’m 25, and I wrapped up my medical degree at the Obafemi Awolowo University, Ilé-Ifẹ̀, in January.

I didn’t plan to become a forex trader. Before 2020, I barely knew what forex was. My best friend was my first point of contact; he’d tell me about his wins, losses and his approaches to figuring out the market. It sounded like an easy way to make money until I tried it myself and realised it was anything but.

The First Steps: Learning the Hard Way

During the lockdown, I was researching how to make money online when I found a YouTube video about a guy who went from washing cars to making a fortune trading forex. It was the push I needed to start learning.

I opened a demo trading account and practised for 12 weeks to get a feel of the market. I wasn’t making real money, but I was obsessed. I’d study charts, look for patterns, and test different strategies.

That’s when I discovered Prop firms:

Prop firms (proprietary trading firms) let traders access large accounts in exchange for a share of the profits.

You pay a fee to take a challenge and prove you can trade profitably before they fund you. The cost varies depending on the account size.

When I started, I paid $80 for a $10,000 account, but fees can go as high as $500 for a $100,000 account. If you pass, you get to trade a $10,000, $30,000, or even $100,000 account, keeping 70–90% of your profits while following strict risk limits.

I worked as a freelance copywriter on Upwork at the time, so I used my small earnings to pay for these challenges. However, I kept failing, which was frustrating, and I eventually gave up.

Forex Trading Distractions

After a series of losses in 2021, I focused on freelancing, and my copywriting income on Upwork grew significantly. I made $2,000 to $3,000 in a good month and became a Top Rated Plus freelancer after a while. With steady earnings coming in, I completely abandoned forex.

I sent out 10 proposals daily and secured at least three gigs each week. As my workload grew, I started outsourcing and delegating projects to balance it with medical school, only handling the technical aspects. It evolved into a large-scale operation, and seven people worked for me. Towards the end of 2022, my account was worth $50,000.

In two years, I had earned more than a Nigerian medical consultant with 15 years of experience would make in nine years on a ₦700,000 monthly salary. That completely reshaped how I saw the financial prospects of a medical career in Nigeria.

A Dead End

Everything went smoothly until one morning in December 2022. I woke up to find that Upwork had closed my account—along with all my savings. Just like that, I was back to square one.

Although I created a new Upwork account, it didn’t take off the same way. In the first six months of 2023, I barely made $1,000. I had gone from being extremely comfortable to completely broke.

On top of that, I’d rented a new apartment and spent ₦5 million on a Lexus. Now, I couldn’t afford my car expenses and was four months behind on rent.

With no other option, I had to find another way to make money, which meant taking forex seriously again. My friends were making money from it, and I figured if they could do it, so could I.

The Breakthrough: My First Real Forex Money

In 2023, a friend gave me a $10,000 forex course for free, and it shifted my luck. I studied it obsessively as though my life depended on it, breaking down every concept until trading started making sense.

Then, things took an unexpected turn. I had been practising on a demo account and posting my trades on my Instagram story when someone reached out. They were impressed with my precision and offered me a deal to manage their $10k prop firm account, pass the challenge, and split the profits. I jumped on it, passed the challenge in one week, and started making real money.

My first withdrawal was $500, followed by another $500 the following week. I cleared my school fees and rent backlog, handled my car expenses, and paid off small debts. For the rest of 2023, I kept trading, splitting profits and finally saw forex pay off.

I mostly focused on trading GBP/USD, strictly following everything in the course I was handed.

In forex trading, the GBP/USD currency pair represents the exchange rate between the British Pound (GBP) and the U.S. dollar (USD).

This rate indicates how much 1 British pound is worth in U.S. dollars. As of Feb 26, 2025, the exchange rate is approximately 1 GBP = $1.2673.

So, I’d speculate whether the British pound would rise or fall against the US dollar for a profit.

If I expected the pound’s value to increase, I’d buy it at a lower price and sell it higher for a profit. If I expected it to decrease in value, I’d sell it at a higher price and buy again when it’s lower.

By following a clear strategy and managing my risk, I made consistent profits.

But one day, I decided to try trading gold against the US dollar (gold/USD). It clicked, and my success rate shot up. That’s when I developed what I now call the Peanut Butter (PNB) gold trading strategy.

The Setback: Anxiety and Losing a $50,000 Account

Even after I started making steady profits, I still faced setbacks.

2024 was one of the toughest years of my life. I battled severe anxiety, chronic stress, and panic attacks, which took a toll on my trading. At the time, I was managing a $50k prop firm account, but my anxiety had me overthinking, hesitating, and second-guessing every trade. Eventually, I lost the account.

This situation forced me to step back and focus on my mental health before returning to trading with a clearer mind and a better strategy. Towards the end of 2024, I secured my own $10k prop firm account and started making consistent profits trading gold.

My Preferred Trading Platform & Prop Firms

I currently trade with prop firms like FundingPips and Maven, making between $200 and $500 weekly from trading gold. Some weeks, I take losses; others, I break even or make nothing at all. My long-term goal is to accumulate $300k in prop firm funding before the end of 2025.

It’s not easy, but once you master risk management and strategy, it’s one of the best ways to trade forex without needing much money upfront.

I execute all my trades using MetaTrader 5 (MT5), one of the most popular forex trading platforms. It allows me to analyse charts, place trades, and manage risk effectively.

My Peanutbutter Gold Trading Strategy

When I started forex, I was all over the place, trading different currency pairs and losing money. But once I focused on trading gold/USD, everything changed.

Gold/USD (XAU/USD) represents the price of gold in US dollars. In forex trading, this pair shows how much 1 ounce of gold is worth in USD.

For example, if XAU/USD is $2,050, it means 1 ounce of gold costs $2,050.

If I buy XAU/USD, I’m betting that gold’s price will increase against the US dollar. For instance, if I buy at $2,050 and the price rises to $2,100, I can sell at a higher price and make a profit.

If I sell XAU/USD, I’m betting that gold’s price will decrease against the US dollar. If I sell at $2,050 and the price drops to $2,000, I can buy it back at a lower price and profit from the difference.

But I don’t trade per ounce—I use something called lot size, which determines how much gold I’m actually trading. A mini lot equals 10 ounces, so I trade in multiples of 10 ounces and earn my profits accordingly.

Why I Only Trade Gold/USD

Gold/USD (XAU/USD) moves in clear trends, making it easier to analyse compared to volatile currency pairs. It’s also a safe-haven asset; investors flock to buy gold when the global economy is unstable, driving its price up. This predictability allows me to make more calculated trades without worrying about constant shifts in different countries’ economic policies.

How I trade gold and stay profitable:
- I trade between 8 a.m. and 4 p.m. when the market is most active.
- I avoid trading on Mondays because the market is still deciding its direction for the week.
- I analyse gold’s price movement before trading, studying charts and patterns to predict price trends.
- I enter a trade only when I see a clear signal. I look at price charts and analyse how gold’s price has been moving over time.
- I buy if the price is steadily increasing and signals suggest it’ll continue to rise. I sell if the price is falling, and it looks like it’ll keep dropping.
- I control my risk. I never risk more than 0.5% of my account per trade, which is $50 on a $10,000 prop firm account.
- I aim for a 1:4 risk-reward ratio, meaning for every $50 I risk, I aim for a $200 profit before closing a trade.
- I don’t overtrade. No matter what, I take a maximum of three trades daily. No emotional decisions, just strategy and discipline.
- I avoid trading during big news events: major economic, political, or financial announcements that can trigger sudden and unpredictable market swings.
Bottom Line

By following this structured approach, I’ve stayed consistently profitable. But trading isn’t just about making money. It’s about managing risk, controlling emotions, and staying consistent. That’s what separates the winning traders from those who blow their accounts.

This is not financial advice.

Also Read: 6 Nigerians Talk About Losing Money To Forex Trading

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Keeping money in a regular savings account is like stuffing cash under your mattress — it feels safe, but it barely grows.

But in 2025, more Nigerians are cashing in on a smarter way to grow their money, earning up to 25% returns per year through Money Market Mutual Funds. If you’ve been looking for a low-risk way to make your savings work harder, these funds might be your best bet.

What exactly is a Money Market Mutual Fund?

Think of it like this:
- Money Market: A large-scale financial marketplace where banks, governments, and companies lend and borrow short-term funds at specified interest rates.
- Mutual Fund: A system where people pool money together, and professionals invest it for them.
- Money Market Mutual Fund: Professionals pool money from various investors to put in short-term, low-risk assets like government securities and high-quality corporate debt.
These funds are typically managed by Asset Management Companies (AMCs) and banks’ investment divisions. Their job is to:
- Pool money from different investors.
- Invest in low-risk, short-term assets.
- Handle the complexities of investing for you and pay you steady returns.
Money market funds, also called money market mutual funds, are insured by the Securities and Exchange Commission (SEC) Nigeria. They are intended to offer investors high liquidity with a very low level of risk.

Unlike fixed deposits, where interest rates are locked in, money market funds have variable returns that change based on market conditions.

So, what are the best money market funds in Nigeria right now?

The Top 10 Money-Making Market Funds in Nigeria (February 2025)

Based on February 14, 2025, data from the SEC Nigeria, here are the top-performing money market funds:

To help you understand potential earnings, we’ve broken down how much ₦100,000 could have grown in just 45 days and projected year-end returns.

1. Legacy Money Market Fund (25.15% Year-to-Date Return)

Individuals who invested ₦100,000 in the Legacy Money Market Fund at the start of 2025 would have earned approximately ₦3,101 in just 45 days (by February 14, 2025). Based on the current annual return rate of 25.15%, the money could grow to ₦125,150 within a year.
- Minimum investment: At least 1,000 units at the current market price.
- Where your money goes: Short-term, low-risk financial assets like treasury bills and fixed deposits with a minimum 30-day holding period.
- Key Benefits: Competitive interest rates, flexible entry and exit, the option to reinvest or withdraw returns, and capital protection with stable income.
2. Meristem Money Market Fund (24.13% Year-to-Date Return)

By February 14, an investor who put ₦100,000 in the Meristem Money Market Fund would have earned about ₦2,975. If this return rate of 24.13% holds steady, the total investment could grow to ₦124,130 in 12 months.
- Where your money goes: Government securities, bank placements, and commercial papers.
- Key benefit: Easy access to your money when needed.
3. Anchoria Money Market Fund (23.69% Year-to-Date Return)

Had you started 2025 with a ₦100,000 investment in the Anchoria Money Market Fund, you would have gained around ₦2,921 by mid-February. At its current 23.69% annual return rate, this could compound into ₦123,690 over the course of a year.
- Minimum investment: ₦5,000
- Where your money goes: Treasury Bills and other safe government-backed investments.
- Key benefit: You can start small and add more money anytime.
4. Chapel Hill Denham Money Market Fund (23.63% Year-to-Date Return)

An investment of ₦100,000 in the Chapel Hill Denham Money Market Fund on January 1, 2025, would have generated approximately ₦2,914 by February 14. At an annual return rate of 23.63%, your money could reach ₦123,630 by the end of the year.
- Minimum investment: ₦5,000
- Where your money goes: A mix of safe, short-term investments.
- Key benefits: Quarterly interest payments, easy entry and exit, and capital preservation.
5. Zedcrest Money Market Fund (23.33% Year-to-Date Return)

By mid-February 2025, ₦100,000 invested in Zedcrest Money Market Fund at the beginning of the year would have grown by ₦2,877. If the 23.33% return rate remains consistent, your investment could increase to ₦123,330 by year-end.
- Minimum investment: ₦1,000
- Where your money goes: Short-term naira-denominated debt instruments.
- Key benefits: Stable income, capital appreciation, and professional management for portfolio diversification.
6. AIICO Money Market Fund (23.18% Year-Date Return)

If you started 2025 with ₦100,000 in the AIICO Money Market Fund, you would have earned approximately ₦2,858 by February 14. At an annual return rate of 23.18%, your investment could reach ₦123,180 by the end of 2025.
- Minimum Investment: ₦10,000
- Where your money goes: Invested in high-quality, short-term money market securities, including treasury bills, commercial papers, and fixed deposits.
- Key benefits: Capital preservation, competitive returns, portfolio diversification, online access, ease of entry and exit, and quarterly interest payments.
7. EDC Money Market Fund Class B (23.00% Year-to-Date Return)

By February 14, 2025, an investor who put ₦100,000 in the EDC Money Market Fund at the start of the year would have earned ₦2,836 in returns. If the 23% annual return rate remains steady, the total investment could grow to ₦123,000 by the end of the year.
- Where your money goes: Short-term debt securities, bank placements, bonds, and commercial papers.
- Key benefits: Quarterly interest payments, easy entry and exit, and capital preservation.
8. RMB Nigeria Money Market Fund (22.91% Year-to-Date Return)

An investment of ₦100,000 in RMB Nigeria Money Market Fund from January 1, 2025, would have generated ₦2,825 in 45 days. At an annual return of 22.91%, your money could reach ₦122,910 within a year.
- Where your money goes: Short-term government and corporate securities with a maximum tenor of 365 days and a 90-day average maturity.
- Key benefit: Designed for steady, low-risk returns.
9. FSDH Coral Money Market Fund (22.88% Year-to-Date Return)

By mid-February, an initial ₦100,000 investment in the FSDH Coral Money Market Fund would have earned ₦2,821. At the 22.88% annual return rate, this investment could grow to ₦122,880 in December 2025.
- Minimum Investment: ₦5,000
- Where your money goes: Short-term securities with a maximum 1-year tenor.
- Key benefit: Withdraw within 24 hours and top up anytime. Returns are based on how long your money stays in.
10. ARM Money Market Fund (22.72% Year-to-Date Return)

If you had invested ₦100,000 in the ARM Money Market Fund at the beginning of 2025, you would have earned ₦2,801 by February 14. At an annual return rate of 22.72%, your investment could grow to ₦122,720 by year-end.
- Minimum Investment: ₦1,000
- Where your money goes: Mainly government securities and other money market instruments.
- Key benefits: Quarterly interest payments, competitive interest rates, and multiple and convenient payment options.
Important things to note

Earning passive income is great, but before you invest in money market funds, here are a few things to keep in mind.

Returns can change
- The rates above are from February 14, 2025.
- Interest rates fluctuate weekly: sometimes up, sometimes down.
Your money isn’t locked in
- Money market funds are designed to offer liquidity, allowing you to access your funds relatively quickly.
- Typically, you can withdraw your money within 24 to 48 hours after making a request.
- However, many funds have a minimum holding period, often around 30 days; withdrawing before this period may incur penalties.
- While these funds are intended for short-term investments, with durations of up to one year, reviewing each fund’s specific terms is essential to understand the recommended investment period.
Safety features
- All funds are regulated by the SEC.
- Investments are monitored daily.
- Strict rules ensure your money is protected.
Risks to consider
- Returns aren’t guaranteed; they depend on market conditions.
- Inflation may affect actual returns: if inflation is higher than your fund’s return, your money loses value.
How to start investing in Money Market Funds

Choose a money market fund
- Check past performance, fund size, and investor reviews.
- Look at the minimum investment amount (some start at ₦5,000).
Open an account
- Visit the fund manager’s website or office.
- Complete KYC (submit ID and proof of address).
- Deposit your money.
Track your investment
- Get monthly statements to monitor earnings.
- Stay updated on interest rates, fund performance and market conditions.
Key Takeaways
- These are not regular bank savings; investment professionals manage them.
- The wealthy don’t just save money; they invest it. Now you know one of their secrets.
- Pooling your money with other investors gives you access to better returns than you would make on your own.
- It’s time to make your money work for you. If you haven’t started yet, the next best time is now.
Editor’s note: These rates are based on weekly data from February 14, 2025, and are subject to change.

*Not Financial Advice.

Also Read: Halal Investments in Nigeria: How to Invest Without Breaking Islamic Rules

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Tell me about your relationship with your sister

She is the second, and I am the third of four children. Ironically, we were the closest siblings when we were children. I guess it was because we were only two years apart and had similar tastes in games, TV shows, and music. Things were pretty great, but we started growing apart after our little sister was born. I’m not sure if it was because I was the only boy in the family or because we developed different interests, but by our mid-teens, we were not on the same page.

What do you mean?

During my childhood, starting around age nine, I can’t remember a nice thing she’d ever did for me, but I can recall countless instances where she would try to pin things on me just to see me get punished. My father is a pastor, so when I brought it up with him, he would say I should forgive and forget because we’re siblings. I really tried to, but her behaviour was just too much.

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Can you tell me one of those instances?

Sure. When the Samsung S8 came out, I had just brought home stellar results from school, and my parents gave it to me as a gift. I was very happy with it because I love gadgets. After a week or two, she was attending a friend’s wedding and asked that I lend her the phone so she could take nice photos at the event. I was happy to oblige her. Long story short, she didn’t come back home with the phone. She said she forgot it in the cab on the way back home, but I’m very sure she lost it on purpose.

Ah.

In 2018, my penultimate year at university, I came home from Ghana to visit my family. Chinasa had flunked out of her university program earlier in the year, so between the pressure at home to get back into school and seeing her mates progress without her, she was pretty depressed.

I convinced her to come back to Ghana with me because I had an apartment that our dad had furnished, and I had some money saved up. She was reluctant to come with me but promised to come through for the Christmas break. When the time came, we spent three weeks together at my place in Ghana. She had a blast. We tried out all the hottest spots, went to the park together, rewatched our favourite shows, and it was great. I was even thinking that our relationship was getting better because of how well we bonded when she was around. She even extended her stay and went back to Nigeria at the end of January instead of when school started.

On Valentine’s Day, my father was at my door in Ghana for a surprise visit. I was so happy to see him, I didn’t think his visit, so close to Chinasa’s return home, was connected. He was supposed to be in the UK for an event, but he said he decided to spend four days with me before going.

I showed him around my school and took him to some of the places my sister and I went to, and we generally caught up. The night before he left, he called me aside and told me he had come because he was worried about me. He said my sister came home from Ghana in tears, talking about how I was spending money recklessly, that I was a cult leader, and that I never attended classes. I was confused. This was the person who was with me the entire time during the holiday and when school resumed. She even attended some of my classes with me. I was very hurt but also very confused. It damaged my relationship with my mum for a while because she was so convinced I had become something else at university.

READ ALSO: I Lived With My Best Friend’s Girlfriend, and It Was the Worst Decision Ever

Did you confront her about it?

Yes, I did, but she said, that if I had nothing to hide, why would I be offended by the lies she was telling? That made me angrier. I decided to keep my distance from her. Then, of course, my mum and dad stepped in, saying they didn’t want to raise children who wouldn’t love each other. They didn’t want it to seem like they were playing favourites because I was the only boy, but it was clear that I was constantly at the receiving end of my sister’s anger, even if it had nothing to do with me.

That same year, she colluded with an ex-girlfriend to lie and try to pin a pregnancy on me. It wasn’t until a DNA test proved my innocence that she stopped telling random people that I was a deadbeat dad.

Omo. Did she ever apologise for anything she did?

Not once. Whenever it involved me, and I tried to explain my side or show her how she hurt me, she’d start crying and try to paint herself as the victim. The cycle of forgiveness and deeper cuts got exhausting for me, and I started to withdraw from her because I just wanted to avoid the wahala. But her last stunt was the final straw for me.

Tell me what happened.

A female friend and I made a joint investment into crypto late last year. It didn’t pan out, and we lost the money, but I promised to reimburse her because it was her first time, and I didn’t want her to be discouraged from investments. When it was time to pay, I didn’t have the cash. I promised to contact her later, but my phone broke. My friend somehow got my sister’s number and called her to ask after me. Thinking that it was safe to talk to my family members, she told my sister about the investment and the money I promised to give her back.

As soon as my mum saw me when I got back home that day, she threw herself to the ground in tears. She started screaming in Igbo that the evil day had finally come. Meanwhile, my sister was sitting in one corner, smiling smugly. I was confused as to why she would be smiling when our mum was in that state. After calming my mum down, she started saying how Chinasa had said I owed people all over Lagos money, and that I was into crypto fraud. I instantly felt tired. She’s going to be 34 years old this year, but she has the maturity of a ten-year-old.

I almost exploded in anger at her and told her I never wanted to speak to her again. It took weeks before my mum believed my side of the story. I had to call my friend to tell my mom the truth before things calmed down a bit.

I secretly made plans and moved out of my apartment, and no one in my family knows where I live now. I don’t want to tell them because they might tell her. I also blocked her number everywhere. She’s an unrepentant liar, and I feel like if I keep forgiving her, she’ll do something that will actually harm me one day.

Do you think your relationship with her can improve if she changes her ways?

No. At this point, I have seen and heard enough. Even our lastborn told me that she thought I was a cultist for the longest time because that’s what our sister had been telling her. Who knows what she has told strangers and people I’ll never be able to tell my side to? I just want to live my life in peace. If we must be completely separate for that to happen, so be it.

If you enjoyed reading this, you’d also enjoy: Sunken Ships: I Cut Off My Friend After She “Stole” My Crush
MTN recently hiked their data bundles by 50%, and Nigerians are feeling the pinch. While users struggle with higher bills, investors are cashing in big, and the company is locking in higher revenue.

We spoke to a financial expert and everyday MTN users to break down what this really means.

What’s going on here?

On February 11, 2025, MTN Nigeria made its internet services more expensive. The Nigerian Communications Commission (NCC) approved this 50% hike for the entire telecom industry, including Airtel, Glo, and 9mobile, on January 24, 2025.

But today, we’re focusing on MTN’s data price increases and how they impact users, investors, and the company’s overall revenue.

What does it mean for you?

Remember when ₦1,500 got you 6 GB of MTN data and lasted most of the week? Well, those days are over. MTN has asked its users to either double their internet budget or cut their mobile usage in half. The NCC suggests that this move is necessary due to “rising operational costs” and “infrastructure maintenance”— corporate speak for “Telecoms need more money.”

MTN Nigeria’s CEO, Karl Toriola, has also justified the price hikes, arguing that tariffs should have increased by approximately 300% to keep up with the naira’s devaluation and the country’s escalating inflation.

As if the 50% tariff increase hadn’t already stirred up enough controversy, MTN increased a 15GB weekly plan that cost ₦2,000 to ₦6,000, a whopping 200% increase. This hike sparked outrage among customers. On February 13, the Nigeria Labour Congress (NLC) protested the hike, demanding an immediate reversal to avoid severe consequences.

According to the Union, “If the telecommunications companies fail to revert to the old tariff by the end of February 2025, a total shutdown of their operations nationwide will commence from March 1, 2025.”

This forced MTN to roll back the 200% increase.

How much more are you paying?

MTN has asked its customers to forgive and forget this particular hike, but the 50% approved by the NCC still stands.

This means you’re paying:
- ₦1,500 for a 1.8 GB monthly plan (previously ₦1,000)
- ₦750 for a 2 GB daily plan (previously ₦500)
- ₦900 for a 2.5 GB daily plan (previously ₦600)
- ₦3000 for a 7 GB weekly plan (previously ₦1,500 for 6 GB)
- For heavy data users: ₦240,000 for a 1.5TB plan (previously ₦150,000)
- ₦120,000 for a 600 GB plan (previously ₦75,000)
NCC says this is necessary to keep telecoms service running smoothly in Nigeria, but at what cost?

Why should you care?

Unless you’re using smoke signals to communicate or prefer to go outside and touch grass, this affects you.

Let’s break down who’s winning and taking the L in this situation.

For your wallet: That monthly data budget? Multiply it by two

If you do anything online: run a business, work remotely, take online classes or even doom-scroll on social media, your wallet will likely feel this pinch.

For most users, this means either spending more money or spending less time on the internet:

Tolani, 22 (MTN User): “All we do in Nigeria is complain, but we always adjust to new situations in time. I normally subscribe to the 25 GB plan with ₦6,500. Also, I don’t like seeing my data run below 20 GB, so once it gets there, I top it up.

Although the plan is now ₦7,500, I still pay for it. But it’s frustrating because it doesn’t seem to last anymore.”

Sharon, 22 (MTN User): “I used to get 15GB for ₦2,000, so this price increase feels frustrating and insensitive. We need to boycott MTN.

I just paid ₦3,000 for the same plan, and it’s irritating. I’ve been searching for online data vendors with cheaper options. I considered switching networks, but MTN is my primary line, and I need it for easier access.”

For Markets: MTN brought happiness this week

MTN investors and shareholders are currently having their “To the moon” moment.

The Nigerian stock market has been on a winning streak for the past five years, and MTN Nigeria is on this train, too.

But first, what does this mean?

Stocks:

Shares:

Now, let’s break down what this means for investors:

This tariff increase directly influences MTN Nigeria’s stock price by shaping revenue expectations, boosting investor confidence, and impacting overall profitability.

Here’s exactly how:

1. Higher tariffs = more revenue

When MTN increases prices for data and voice plans, it generates more revenue—provided customers continue buying. Investors see this as a growth signal, driving up demand for MTN shares and, in turn, increasing the stock price.

2. Investor confidence in profitability

A 50% increase in some data plans means MTN expects to make more money per user, improving its profit margins—and investors love growth.

The numbers do the real talking:

MTN’s stock has significantly appreciated between October 2024 and February 2025.

In October 2024, the stock traded at around ₦175 after a sharp decline due to economic challenges. However, by December, it began to recover, reaching approximately ₦200 by year-end.

By January 10, 2025, MTN’s stock had surged over 20%, hitting ₦242 and climbing to around ₦250 by month-end.

Following the tariff increase, MTN’s stock has recorded a 32.1% gain from January to date, closing at ₦264 on the Nigerian Exchange (NGX).

If you invested heavily in MTN shares last year, you’re likely celebrating with other shareholders right now.

Despite the market’s unpredictability, finance professional Azeez Lawal projects that “MTN shares will likely reach ₦300 or ₦350, depending on the company’s performance before the end of 2025, and the assumption that FX remains stable at current levels.”

For *Kalejaiye, who bought ₦13 million worth of MTN shares (78,799 units) at ₦171 per share in October 2024, his investment has grown to ₦20.8 million—a 54% return.

He said, “Even though it seemed like bad timing—MTN had just reported a significant loss in their September 2024 press release—I still bought their shares at ₦171 with a plan to hold for 6-8 months. I had hoped the NCC would approve new telecom tariffs within that period and projected a 40% increase, and luckily, news of the tariff hike broke before December.”

The Bigger Picture: Why MTN is really doing this

The NCC press release justifies the reason for this 50% tariff increase, stating:

“Tariff rates have remained static since 2013, despite the increasing costs of operation faced by telecom operators. The approved adjustment is aimed at addressing the significant gap between operational costs and current tariffs while ensuring that the delivery of services to consumers is not compromised.”

While this increase has boosted MTN’s stock market value, there’s more to consider:

As Lawal puts it: “Many of the companies who suffered major foreign exchange (FX) losses, including MTN, in 2023 and 2024, when the naira began to lose value, have significantly repriced their products to reflect the full impacts of the FX loss.”

According to the Corporate Finance Institute, FX loss means:

In the first nine months of 2024, MTN recorded a net FX loss of ₦900 billion, leading to negative shareholders’ funds.

Despite this, MTN generated a solid ₦2.4 trillion in revenue from data services alone during the same period.

“When you look closely at it, this 50% tariff increase offset the impact of FX losses in the industry,” Lawal says.

“In 2025, MTN will recover its FX losses, and its share price is expected to appreciate significantly,” he says. “With a 50% increase in revenue from data services, it’s clear that MTN investors are set to lock in substantial profits this year.”

“We’re already seeing the signs.”

Reports project that MTN’s voice and data revenues could grow by 40-50%, potentially pushing their total revenue to around ₦4 trillion in 2025.

For those complaining about declining call quality or data running out faster, you may be experiencing what’s known as shrinkflation:

Lawal explains: “When a product originally sells for ₦2, but due to cost pressure and FX losses, the price rises to ₦4 and then to ₦6. At some point, further price hikes drive customers away, so companies shrink the product size instead of increasing the price again. Many products you know have gone through this journey.”

The Key Takeaway

This price increase tells three critical stories. For MTN, it’s about balancing their business needs with customer satisfaction. For customers, it’s about adapting to higher costs in T-pain’s economy. Investors, on the other hand, continue to lock in profits.

What happens next depends on how well MTN delivers better services and how customers adapt to the price changes in a market where switching networks isn’t always the solution. Nigerians may have no choice but to pay more or use less.

ALSO READ: 20 Made-in-Nigeria Products That Are Cheaper Than Their Imported Alternatives

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“My current stash is worth ₦350K, and 70% comes from PR packages.” — JRuqayyah, 23, Skincare Content Creator.

How Much I Spend (₦350k/ As needed)

Here’s a cost breakdown of some products in my stash:

“I’d rather spend my feeding money on skincare. As long as my skin is giving, forget the money.” — Becca, 18, Student

How Much I Spend (₦105k/ Twice a year)

Get More Zikoko Goodness in Your Mail

“My skin went from “I’ve had better days” to “Is that a glowing angel?”—Faizah, 21, Policy Research Specialist & Writer.

How Much I Spend (₦60k/ Month)

Here’s a rundown of my most recent skincare spree:

“My skin is brighter, my dark spots are fading, and I no longer get huge pimples.” — Sharon, 22, Content Marketer.

How Much I Spend ( ₦80k/ As needed)

“I should have just seen an aesthetician from the jump instead of wasting money on trial and error.” —Maryam, 22, UX Designer.

How Much I Spend (₦50k/ Thrice a year)

My last skincare haul in January cost:

Also Read: What Are Hot Babes Spending Their Salaries On This Month?

Unique Value Propositions of the State-of-The-Art Facility

The Unicorn-incubating Hub Welcomes All Nigerians with Ideas

A Leisurely End to the Pleasant Day

1. Healthcare

a. Surgeon – Cardiothoracic

b. Surgeon – Orthopedic

c. Surgeon – Plastic Reconstructive

d. Chief of Surgery

e. Invasive Cardiologist

2. Finance and Accounting

a. Risk Management Director

b. Investment Advisor

c. Finance Director

d. Financial Manager

e. Economist

3. Marketing

a. Brand Director

b. Chief Marketing Officer (CMO)

c. Marketing Manager

d. Chief Product Officer (CPO)

e. SEO Marketing Strategist

4. Architecture

a. Architectural Manager

b. Architecture Consultant

c. Assistant Architectural Manager

d. Design Manager

e. Facilities and Project Manager

5. Aviation

a. Airport Services Manager

b. Aviation Manager

c. Airlines Sales Director

d. Aviation Safety Manager

e. Aircraft Pilot

6. Education and Teaching

a. Dean of Faculty

b. Professor

c. College Dean

d. Lecturer

e. Head of School

7. Energy

a. Operations Manager

b. Geophysicist

c. Mining Project Manager

d. Engineering Geologist

e. Exploration Manager

8. Engineering

a. Engineering Production Manager

b. Director of Engineering

c. Field Engineering Manager

d. Engineering Key Account Manager

e. Electrical Engineering Manager

9. Information Technology (IT)

a. Online Banking Manager

b. Director of Application Development

c. Chief Information Officer (CIO)

d. Chief Information Security Officer (CISO)

e. Information Technology Project Manager

10. Law and Legal Services

a. Supreme Court Judge

b. Administrative Law Judge

c. General Counsel

d. Legal Services Director

e. Litigations Attorney

Bottom Line:

Also Read: 20 Made-in-Nigeria Products That Are Cheaper Than Their Imported Alternatives