Home Finance How To Become Rich In Nigeria -According To Millionaires.

How To Become Rich In Nigeria -According To Millionaires.

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how to become rich in Nigeria
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Who doesn’t want to become rich? I have not met any such person. I’m sure you want to know how to become rich in Nigeria or anywhere you are in the world for that matter. Or you’ve constantly thought of how to become a millionaire in Nigeria, maybe that’s why you are here. And, you’re pretty much in the right place.

Almost every human endeavor or activity is centered around that one thing that would make us money -including this post. Be it legal or illegal, moral, immoral or amoral, the end goal of anything a human does is to generate money, or some sort of stuff that has a financial implication. Isn’t it?

This is why a lot of people go online to search for things like How to get rich quick, how to become a millionaire with no money, how to become rich in Nigeria fast, etc.

So, in this post, I will share simple strategies to follow, if you want to know how to become rich in Nigeria and or anywhere you are on the globe. Read on to learn more.

How To Get Rich

In other to get rich in life, you have to become valuable at something. No, it is not as difficult a thing as you just thought it to be.

You don’t have to be a Cristiano Ronaldo or a Tiger Woods to be valuable at something. You could become valuable just at anything. You just have to become good at something -however simple. So, in this section, I will list a few of these things so we can get the context for the post.

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It doesn’t matter if you want to know how to become rich overnight -as I said, you need to be valuable at something. You have to put in a small amount of work over time to become good at something overnight.

In being valuable at something, for instance, you know the tailor (or fashion designer) everyone wants to sew their clothes right? He or she is valuable in that trade. That is why they are sorted by everyone. And you know learning tailoring is not rocket science, don’t you?

This is why I told you initially being valuable at something doesn’t necessarily mean that stuff should be something big or extraordinary -neither do I mean by this example that tailoring isn’t something big. I hope you get my point.

So, now that we are good with the issue of being valuable, how do you become rich in Nigeria? Let’s get straight to it.

How Do I Become Rich in Nigeria?

So, now, you know what being valuable is in the context of this post. Allow me to say it again that there is no substitute for being valuable or being good at what you do. Unless you want to be a crook. And even crooks earn, depending on how good they are in their dirty craft. So, aside from bagging a degree and landing a high-paying job, these are the various ways to follow on how to become rich in Nigeria fast.

  1. Work online (on the internet), or
  2. Offline
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How To Get Rich On The Internet In Nigeria

There is almost nothing not online today. Little wonder, how to get rich on the internet is one of the most search keywords in Nigeria -and indeed, globally.

To really get rich on the internet, one has to know the simple fundamentals of making money online. It is simply exchanging something for money. Quite simple. So, if you can get a hang of that, you’re good to go.

But that’s where the hard work is of course.

As always, it could be marketing your talent or skill, a product, or a service. It just has to be something people are willing to pay for.

For instance, being a writer and a digital marketer, people pay me to help them write content for their businesses, social media, or website. Articles that would show up on Google or other search engines -like this one which brought you here.

I also help businesses run their social media ads (including Facebook, Instagram, Twitter, Google ads, etc). These are talents I have, or skills I developed.

People who have a good voice, for instance, charge for voiceovers. So, they help businesses create voiceovers for their promotions or media, and get paid. So, now you got the answer to your question on how to get rich on the internet In Nigeria, right? You simply need either of the following;

  1. Develop and earn from your marketable talent.
  2. Sell a product
  3. Sell a service
  4. Develop and sell a skill.

So, generally, to get rich in Nigeria -whether on the internet or not, you just need to find opportunities and help people solve their problems, then charge for it. Of course, they don’t have to be in Nigeria with you -they could be in Europe or America, or just about anywhere. I have worked for more Americans than Nigerians, because as a freelancer, I have focused my effort on getting foreign clients, than locals. You know why already, don’t you? Well, if you don’t, the pay is better. The ever-dwindling Naira doesn’t help at all.

That’s for becoming rich online. Let’s go offline.

How to Become a Millionaire in Nigeria

So, the following are simple tips you can follow to earn money directly to your bank account in Nigeria and become rich in the process. They will help you in your journey on how to become a millionaire in Nigeria.

Develop High-income skills

Let’s do the math, one million naira is simply “one naira” in one million places. So, ask yourself, what can I do and charge one million naira? Then do it.

Alternatively, ask yourself, what can I sell to make one million naira with 4 sales? (That’s assuming you charge 250k per sale). Or, what can I sell or promote to make one million naira in 100 sales -that’s 10k per sale?

Now, learn those and start doing them.

For instance, if you can sing, consider organizing a show, and charge 50k per seat. That means, you need 20 people to buy a ticket, and you make a million. Increase the number, to cover the cost of logistics and all.

If you are skilled in writing, you could write a movie script, and sell for a million naira. Do those ten times, at one million naira each, you’d have ten million. Easy right? Erm, not really. But getting to work now will get you closer to your dream by dawn.

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You can learn or develop just any skill to become a millionaire in Nigeria today.

In fact, you don’t have to write a script to become a millionaire in Nigeria. It doesn’t matter if you are skilled (or not) in writing, you could earn a lot, writing or rendering various services to businesses and people, like I do -on Fiverr and Upwork. Infact, freelancing is very important for how to become a millionaire in Nigeria.

There are thousands of clients in need of writers. And all the skills I’ve mentioned above, like Voice-over artists, writers, digital marketers, graphic designers, and more than 500 other skills -in high demand on those platforms.

Learn how to do any of those, then you’d be a millionaire after working for your first 50 clients who pay you $50. And that’s possible within a month.

Save a lot

I don’t believe in saving. No, I don’t.

But, wait!!!

Before you come for my neck, allow me a minute to explain. If you constantly search for how to become a millionaire in Nigeria, or how to become rich in Nigeria, the odds that you live in or are relocating to Nigeria is very high. So, judging by the Nigerian economy, as of the last decade, saving to be rich is a suicidal mission. Why? I’ll tell you.

In 2010, if you had #28,000 in your bank account, that would be around $200 (at #140 per dollar). But today, if you have that same #28,000, it is around $65 (at #450 per dollar).

This means that if you saved 28000 ($200) in Nigeria in 2010, today you will have less than #28000 (due to various bank charges) and if converted to dollars, it will be $65. Judging by the fact that the dollar is almost determining the purchasing power of the Naira, this isn’t good news.

So, am I saying you don’t save at all? No! my advice is that you do it only to raise capital to start your business or to join an investment. Saving shouldn’t be a long-term plan for a Nigerian to escape financial lack or to live one’s dream, as it is for the majority of people in the western world.

After saving for -say a year, you should put the money into a business, bonds, stocks, or something profitable. By so doing, your money keeps yielding returns on investment and you’re better for it. I like my destiny in my hand, so I favor investing in a business.

However, you need to have an emergency fund. This means that you should save money enough for 3 to 18 months of upkeep in an account. Only that, and not more than that should be in your savings account. Invest every other penny you have.

As you save, make sure you’re living your life along the way, so you don’t get bored and abandon your plan so soon. Don’t plan life, and forget to live life.

Have a budget and stick to it

I once spoke to a lady about budgeting, and she told me she isn’t budgeting because she does not have enough money. That sounded to me like a paradox, because the reason why we budget is that we don’t have enough money. If we had money in excess, we may never need a budget.

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So, it doesn’t matter how little you have, plan your budget, and stick to it through the month, year, or the entire duration of your plan.

Invest or start your business

I already mentioned above that investing or starting a business is a better alternative to saving all you have. Inflation makes one’s saving lose value overtime (especially in the Nigerian context), but it does the exact opposite to investments.

If two people (A and B) have #50,000,000, and one saved his, while the other bought a property for the same price. A few years later, due to inflation, A’s #50,000,000 will worth less or have a lesser purchasing power than it did when it was saved. While B’s property will worth more than #50,000,000. You’re better off investing than saving.

Have multiple streams of income

This goes without saying. You cannot seek ways on how to become rich in Nigeria and rely on a single source of income. In fact, the average millionaire has at least 7 sources of income. So, you should seek multiple sources of income to stand a chance. Of course, while learning the ropes, you don’t want to divide your attention on more than one thing at the same time. However, as soon as you get a hang of one business, quickly diversify, so a new stream of income would start generating more cash for you.

Most times, you see people doing so well financially, and you begin to think and wonder how to become rich overnight. But you forget they put in a lot of work overtime, and successful business people have multiple streams of income.

Deliver better services and increase how much you charge

One of the simple hacks, on how to become rich in Nigeria, is to deliver quality service, and of course, charge more for it. Truth is, people know and appreciate quality -Nigerians are ostentatious. So, if you are into any service delivery, find ways to improve the quality of your service and ensure you charge more for it.

For instance, I used to charge $10 to write 1,000 words of an article from my clients (on Fiverr). As soon as my profile hit a certain level, I increased my fee to $20 for general articles and $30 for digital marketing and CBD articles. I also increased my hourly rate on Upwork from $15 to $30. This way, I earn more doing the same job. Of course, a few clients will stop patronizing you, but overall, your revenue will increase.

But first, you need to improve the quality of your products or delivery. This makes your clients willing to pay because they know your job is worth every penny.

There you have it. Now, you know how to become rich in Nigeria. Hopefully, sooner rather than later, your search would change to, how to handle wealth in Nigeria.

Remember, sharing is caring -share this post on your social media to let you peeps know how to become rich in Nigeria. Also, drop your opinions on these tips, and let’s know what you think. Have you tried any of the above? What was your result? Share your views on how to become a millionaire in Nigeria with us using the comment section below.

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