I'm a software engineer working remotely from Nigeria. I earn a 7-figure monthly salary.
With my salary only (at an average exchange rate of 850/$), it would take me about 6.6 years to save up 100 million, provided I have zero dependents and had to cater only for myself throughout those years. It's quite a naive way to project this though because a lot of things can happen along those years. But it still gives an idealistic comparison base.

So my question goes to Nigerians currently living or have lived abroad. Can you tell us the country, the job title, and how long it would take to save up to NGN100 milliion, assuming you have zero dependents and have to cater for only yourself. Do remember to factor in taxes if any and other living expenses for yourself alone

The reason for my question is not far-fetched. I'm just wondering if it's worth it to sell ones' properties worth milliions just to JAPA and go start over again. Please, refrain from dragging the country's situation into your answer or any other reason to JAPA. Kindly focus on answering the question as best as possible.

Thanks.

You're looking for trouble with this o. Remember the number of influencers that have been killed by being tracked through social media over the past one year. Brother, abeg resist the devil so he can flee from you please. We-rey Nwayo. Gentle gentle on the foot pedal o

I think the better question will be to ask what the value of 100 million will be in six years time and what would happen if you lose your job while in Nigeria and how easy it would be to get another one. 1800 USD isnt a lot or a mind blowing salary

After you make the first 100m what next? Make another 100m?
@Raydos, this is what I was trying to talk about in your thread. Every talk or argument about Nigerians is about money, more money, more more money and it ends with money.
Nobody seems to give a damn about any other thing apart from the money they make.
This thread will degenerate into an argument on who makes more money, the stage is set. This is all we care about as a people.

Bro with your 1 year savings you can come up with more than 100 million in way less than 6 years
Think the business way

Is not only money that make people japa, some issues are settled, like security good road getting values for your taxes and when children is involved, your children future are secured.
Anybody trying to japa and thinking of becoming a multi millionaire or billionaire Na big mistake. But am sure once you are not lazy you will leave a comfortable life.
With the present situation in this country things are hard, salary Na pie but.
If I come to you now and I said I need 50k will you give me?
I prefer leaving this country than leaving like a prisoner in my own country.

If you have the so called skills you have why do you have to sell your properties to japa When you can get permanent residence or work visa. In the abroad you may never be able to save that amount. It probably will be in real estate or other assets.

Smh.

Simple question was asked. He specified the question and asked/pleaded that answers be limited to that specific question, but trust nlanders not to read simple instructions.

Smh.

And what is the percentage of Nigerians that will be able to save 1million naira before they die?

Even in the west, their citizens aren't rich in the context of their country but have access to credits and good quality of life.

It is not about money saved rather it is about the quality of life people can live with the money they earn.

Hahahahah... wher you won make make 100m... for where...

Tho if you get in with a work permit and get a job as a Senior Doctor or top Software Engineer and work for probably for NaSa.. den you can make 100m in probably 3years

Very thoughtful questions, I'm here for the comments.

I've lived in 4 countries, so let me offer my two cents.

First, if you're looking at it from a financial standpoint, those who live in Nigeria and work for organizations in Europe or the Americas are far more gainfully employed than those living in these places (even though those living abroad are more paid than thier offshore counterparts). Even if you spend mindlessly, you'd still likely be very rich cause of exchange rate. If you're single, you'd probably be spending between 5% to 10% of your salary (depending on your level) and the remaining part (which could be more than a million depending on your level) could go to savings and investment. Meanwhile, your counterparts in the Western world will be spending in the currency of the resident countries. Some of them might even be struggling to save after paying monthly house rent of about $2,300 in NY and bills like electricity, water, gas, internet, phone, cable etc. as well as other expenses like transportation, groceries, wears, haircut and entertainment. There's simply no comparison here.

That said, like someone has already mentioned, living abroad isn't all about money for some people. Other factors like amenities, safety, passport (freedom of movement), exposure to diversity and, most importantly, the future of your offspring all come into play. Now, to your question, it all depends on the individual's field, level, the country where they are and the exchange rare at the time. Some countries pay more than others. Some fields pay more than others and advanced/senior professionals earn more than mid level and entry level professionals. So it's not very practical to give a figure. Moreover, people aren't dumb enough to keep compounding money in the bank like that. That's a poor man's mindset. Buying assets that appreciate with time or investing in financial instruments that counters inflation is the only way to secure the value of your money. Finally, whether you move or not is up to you. You might save less (even though you get paid more when you're there), live in a much smaller apartment and deal with the cold weather and racism, but there are benefits like thes ones I mentioned above. It's an individual thing. So take a moment to understand your priorities. And if you're still not so sure, secure a visitors' visa and go see for yourself first (bearing in mind visiting/vacationing in a place is far more fun than actually living there).

Good luck!

What do you need #100 million for?

It's ridiculous to save for a long period of time to reach a benchmark. The value of money Is dynamic, the value of 100m today will definitely not be same in 6years, let alone next year. Saving to invest seems to be the best option cos if it goes right, one can amass more than the 100m. Besides, life happens, loss of job, health issues and the likes.

Please, refrain from dragging the country's situation into your answer or any other reason to JAPA. Kindly focus on answering the question as best as possible

Nigerians are something else 😂 The op made it clear above but we must shalaye

You only need the 100m to brag around and diss people around you. People living abroad are not so money conscious like people from third world countries. The highest your useless 100m will get you are probably cars and house to show on your IG and all.
People are actually living and enjoying their lifestyle even with government monthly benefits of $1800 and heaven is not falling.

We need serious reorientation in Nigeria.
Everything is not about how fat your account is.

Why would anyone want to save up N100m that would end up getting devalued as the months goes by? Poor thought of wealth building!

What is even the percentage of Nigerians living in Nigeria, that would even save up to 2 million naira in their lifetime?

Ma so 100million easy?

Many of you will sit in a corner thinking people abroad are picking pounds/dollars on the street.

I pray God make it easier for you all to come and pick your own free dollars on the street very soon. My only advice is just that don’t sell your house all in the name of Japa and always have a Plan B.

Reading...

Nonsense thread to spite reasonable Nigerians that made the bold move to migrate to saner countries for a better life and future.



You that didn't Japa, how long did you take you to make your first 10million Naira?


Some will be deceived by the yeye talk that Dangote is in Nigeria, Otedola made his billions in Nigeria, Mike Adenuga made his billions in Nigeria and other useless talks.


But they forgot that these guys mostly came from rich family backgrounds, some of them studied abroad, some made their seed capital abroad and relocated back to Nigeria and kept shuttling between Nigeria and abroad.



Listen all you young naive Nigerian youths campaigning against Japa, for you to become truly successful and rich in Nigeria, you definitely need to have an abroad experience or connection.


The few Nigerians that made it solely in Nigeria without abroad experience or connect are mostly into frauds, political thuggery, acting as politicians' proxies, thugs, stooges and front. Others are into importation/trading, religious milking of Nigerians using religion and other higihaga.



For you to make it in Nigeria solely by remaining in Nigeria in our today Nigeria require special grace of God Almighty and strong destiny.

90% of people that japa will never have that in cash till they died… They might have it in property in a long run.
They left the country to live a basic live, void of unnecessary stress and uncertainty .
People back home might make money more than the Japa people due to ease of doing business and less rules to collect half of their income for tax….
200 people of the same caliber.
100 Japa.
100 stayed back.
20 years later… they will both have regrets.
But the group that stayed back will have the most regret.
It’s had to become wealthy when you Japa, but your simple life no go hard.
Choose your difficulty wisely.
I already choose mine.
God help me.

This is a very silly thread though.

#100 million abi wetin you write?

You dey mad.

Na heist the person go do there

Took me a year 3month after which I invested in a business which is taking forever to BREAK EVEN in the business..........

This bracket would be made up of less than 10% of japarians

with my 700k earning it will take me approximately 142 month to earn N100m (that's approximately 11 years)

StrikeBack:
You only need the 100m to brag around and diss people around you. People living abroad are not so money conscious like people from third world countries. The highest your useless 100m will get you are probably cars and house to show on your IG and all.
People are actually living and enjoying their lifestyle even with government monthly benefits of $1800 and heaven is not falling.

We need serious reorientation in Nigeria.
Everything is not about how fat your account is.

you get the OP wrong and you are contradicting yourself, you claim people are living well with government monthly benefit of $1800, why won't they? $1800 free money with many facilities in place, in Nigeria you provide all these by yourself, people are money consious in 3rd world country because they need money for everything, no loan facilities

Ordiarily to build 3 bedroom apartment I was told to budget at least 20million (no mortage facility to pay back overy 10 or 15 years), shit like this will make anyone money consious

Na wa oooo



90% of Japarians can't even buy some Bungalows in my own street here in Abuja. I said it with my whole heart.

When I returned back to Naija from Sweden, I couldn't boast of what I am having now.

My wifey is in shock how I did it (Blow like Satan II). But her lucrative job can't let her leave the country. If not she for find her way too

JAPA is not meant for everyone, if you JAPA and it favor you, thank God. If you JAPA and it does not favor you, please keep shame aside and return back like me.

My wife was literally feeding me in Sweden. I felt so useless that when I look at my naked self on the mirror in the bathroom. I see myself having a P*ssy not a Dick.

Some JAPAnarians will not even see 10million in Naira till they die talkless of 100million

Lol

Hmmm