Top three ghetto things in the world right now:

1. Being a Nigerian

2. Being a Nigerian living in Nigeria

3. Being a Nigerian who is living in Nigeria and earning in Naira.

Nigeria's inflation over the last year stood at 30.37%, according to Steve Hanke, a renowned professor of applied economics at John Hopkins University. Or 13.71% as of September 2020, according to the National Bureau of Statistics.

Everybody who earns and spends in Naira is affected by the inflation rate. The worst hit by inflation are savers who have seen the value of their money eroded.

Based data between 2000 and September 2020, to beat inflation in Nigeria, your savings would have to earn you at least 12% cumulative interest every year.

But achieving the 12% interest required to beat inflation in Nigeria requires taking on some risk. However, the typical risk-free investments like treasury bills are offering lesser returns (as low as 1%) as the day goes by.

After assessing the investment options that are available to small-scale investors, I was able to itemise seven ways you can beat the Nigerian spiralling inflation rate:

1. Fintech investment package
2. Stocks, mutual funds and exchange-traded funds (ETFs)
3. Hold savings in other currencies (USD, Euro, Swiss Francs, etc.)
4. Cryptocurrency
5. Bonds
6. Agro-investment
7. Real estate investment

read more: https://www.benjamindada.com/seven-ways-to-beat-inflation-in-nigeria/

What are the ways you are using to beat Nigeria's inflation? Please share. Let's all learn.