Ouchbabe:

Wao!
This is loaded.
So much info here. Thanks a bunch.
I will definitely be looking into these suggestions. Once again Gracias!

You can join JobZoneNG on telegram. Thank me later.

The reason one source of income is not longer viable with this current economy.

jayce232:

The person u quoted stated he earns 30k, u are still saying he can save 5k to 10k from it monthly? Have u been to the market recently? I went to market today, I spent 15k on just tomatoes, fish & sweet potatoes. I have only 100 naira left of the 15k. Let's be realistic with our projections pls. Things are crazily expensive out there.

IyaTola:

You already into the business of perfume.
How are you using social media to leverage on your business?
If banks have a department specifically for just social media posting, how much more you?
Here's what you would do
1. Look for those in the same line of business you do offline and offer to be their social media manager for free or paid that way you get to learn more about the business
2. Search for the best perfume sellers in the world, Africa and Nigeria on social media, look at what they are doing and see if you can replicate that about your business on social media

All the best.

Thanks dear. I'm grateful for your feedback.
I actually have a Facebook page of about 10k followers. I was using it to run online restaurant but unfortunately, most of the orders I was getting were people in distant locations. For awhile now, I haven't been posting on the page.
I'm looking at using the page for something else but I'm yet to decide.
Please can you suggest what I can switch to?

Ouchbabe:


Chai! So no hope for low income earners

No lose hope, when God says he's come...mama He don come be that ooh..

At 28 I had nothing..infact all tru my life I never gathered an accumulated sum of 30k all tru my life the only exception was when I received double alawee of 19800 x 2 then

But at 29, I had more than a million naira in my name. And ever since then God never left me.

vickydevoka:

Gambling is fun untill u lose your life. I am currently in a big mess. It will take me 6 year to recover. I started gambling since I was a kid, bet9ja came n I started visual during service, I was useless up to the time my money got finished. After 2 years of recovering myself. I say make I try. I used a million n made 2 million. B4 u know I lost 30 million. My bank account was blocked bcus I use binnace to exchange my money since I live outside de country. I hate associating with people or making friends, I'm usually self isolated that's y I can lose my life without anyone knowing. Right now I just have to start investing in biz I don't care if it pays or not.
Most Nigerians are scammers especially your relatives.

Hmm...gambling isn't an easy thing to turn away from.

OlawaleBammie:


No lose hope, when God says he's come...mama He don come be that ooh..

At 28 I had nothing..infact all tru my life I never gathered an accumulated sum of 30k all tru my life the only exception was when I received double alawee of 19800 x 2 then

But at 29, I had more than a million naira in my name. And ever since then God never left me.

Thanks for your words of encouragement.
I believe that once there is life, there is hope .
Greater you I pray

Ouchbabe:

Thanks for your words of encouragement.
I believe that once there is life, there is hope .
Greater you I pray

Thanks mama...and you too

With 10k followers on your Facebook page, you have a great foundation to leverage for various opportunities. Considering your previous experience with the online restaurant, here are some ideas to repurpose your page:

1. Food Blogging: Share recipes, cooking tips, and food-related content. You can monetize your page through affiliate marketing, sponsored posts, or Google AdSense.
2. Influencer Marketing: Partner with food, beverage, or kitchen appliance brands to promote their products or services. You can also collaborate with other influencers or bloggers in the food niche.
3. Digital Products: Create and sell digital products, such as ebooks, cooking guides, or meal planning templates, related to food and cooking.
4. Affiliate Marketing: Promote food delivery or meal kit services, and earn a commission for each sale made through your unique referral link.
5. Content Creation: Focus on creating engaging content, such as videos, photos, or stories, around food, cooking, or lifestyle. You can monetize your page through ads, sponsored content, or brand partnerships.
6. Online Coaching or Consulting: Offer coaching or consulting services to individuals or businesses in the food industry. You can provide guidance on recipe development, menu planning, or food safety.
7. Food Tourism: Share your passion for food and travel by promoting local food tours, cooking classes, or culinary experiences.
8. Product Reviews: Review food-related products, such as kitchen gadgets, cookbooks, or food subscription boxes, and share your honest opinions with your audience.
9. Community Building: Create a community around food, cooking, or lifestyle, and engage with your followers through live sessions, Q&A, or contests.
10. Personal Branding: Leverage your page to build your personal brand as a food expert, chef, or entrepreneur. Share your story, experiences, and expertise to attract opportunities and collaborations.

Before making a decision, consider the following:

1. Your passions and interests: What aspects of food, cooking, or lifestyle excite you the most?
2. Your target audience: What type of content do your followers engage with the most?
3. Monetization opportunities: Which ideas have the potential to generate revenue?
4. Time commitment: How much time can you dedicate to creating and managing content on your page?

Take your time to reflect on these questions, and explore the ideas that resonate with you the most. Good luck!

Ouchbabe:

Thanks dear. I'm grateful for your feedback.
I actually have a Facebook page of about 10k followers. I was using it to run online restaurant but unfortunately, most of the orders I was getting were people in distant locations. For awhile now, I haven't been posting on the page.
I'm looking at using the page for something else but I'm yet to decide.
Please can you suggest what I can switch to?

Dear this is not even a challenge at all because food business is a business that is a necessity during war, famine, under the rain & in the sun people would surely eat, anyway, there are many people in that 10k followers who are dying to partner with you.
Here's my suggestions
Make a post looking for exceptional cooks in those locations you have orders and these cooks would undergo a cooking test.

For instance, we have many orders coming from Abuja, PH and Kano, provided they are located close to where these orders would come from.

The cooking test would be what would be given to the customer who ordered the food and whatever assessment they give would be what you would know if you would continue to use her. Plus you can have a YouTube channel.

Babe! Before you know it you have a business with customers care receiving orders via Facebook and WhatsApp.

GBPUSD:


Which business can one start with 700k sir?

I'm a level 9 officer.

Business decision is subject to ur location.
I really do not know much about ur location.

Irrespective of ur location,if u are a civil servant that usually have time pls,start phone accessories business. U see that business,it is profitable and no-one would ever tell u this.

U can also employ a lady to assist u in running it in the day,while u take take over every evening and weekends.

Think about this and if know how to repair phones...my brother u are made.

Thanks so much for this.
Its of great value to me.
Appreciate.

Meerahbel:
FG Savings Bonds and FG Bonds are both debt securities issued by the Federal Government of Nigeria, but they have distinct differences:

*FG Savings Bonds:*

1. *Purpose:* Encourage savings and investments among individuals, particularly retail investors.
2. *Tenor:* Typically 2-5 years.
3. *Interest Rate:* Fixed, but generally lower than FG Bonds.
4. *Investment Amount:* Minimum investment amount is usually N5,000, with a maximum of N50 million.
5. *Target Audience:* Individual investors, including retail investors and small savers.
6. *Liquidity:* Less liquid than FG Bonds, as they are designed for long-term savings.
7. *Taxation:* Interest income is tax-free.

*FG Bonds:*

1. *Purpose:* Raise funds for specific government projects or general budget financing.
2. *Tenor:* Typically 5-20 years.
3. *Interest Rate:* Fixed, but generally higher than FG Savings Bonds.
4. *Investment Amount:* Minimum investment amount is usually N10 million, with no maximum limit.
5. *Target Audience:* Institutional investors, such as pension funds, insurance companies, and banks, as well as high-net-worth individuals.
6. *Liquidity:* More liquid than FG Savings Bonds, as they are traded on the Nigerian Stock Exchange.
7. *Taxation:* Interest income is subject to tax.

*Key differences:*

1. *Purpose:* FG Savings Bonds aim to encourage savings, while FG Bonds focus on raising funds for government projects.
2. *Tenor:* FG Savings Bonds have shorter tenors, while FG Bonds have longer tenors.
3. *Interest Rate:* FG Bonds typically offer higher interest rates than FG Savings Bonds.
4. *Investment Amount:* FG Bonds require a higher minimum investment amount than FG Savings Bonds.
5. *Target Audience:* FG Savings Bonds target retail investors, while FG Bonds target institutional investors and high-net-worth individuals.

When choosing between FG Savings Bonds and FG Bonds, consider your investment goals, risk tolerance, and time horizon. If you're a retail investor seeking a low-risk, long-term savings option, FG Savings Bonds might be suitable. If you're an institutional investor or high-net-worth individual seeking higher returns and liquidity, FG Bonds might be a better fit.No, it not.

Telltruth123:
My advice to salary earners, I am a graduate of Accounting and I have been working for the past 12 years but presently I don't have any savings. I have made some mistakes during this journey.
Below are my advice to salary earners so that you won't live in regrets as I am presently:

1. Save at least 20% of your earnings you can increase it if you have the capacity but it must not be below 20%, you can save it in a co-operative society, I learned that after some few months, they will lend you three times of the money you save with low interest rate.

2.Try and have a business plan, calculate the amount you will need for the business and save towards it, you don't need to leave your work unless it grows to a certain level that can pay 3 times your salary.

3. Don't touch your savings unless for business, it is good to save it where you can't easily access it , co-operative society, bank with instructions on duration etc

4. Don't entrust your business with family members, they don't take it serious, I have bad experience with this and I am regretting it.

5. Don't lend out your savings, people might not return it, I have bad experience with this and I am regretting it.

6. If you are working in a company where you have access to loan, please make use of the opportunity as the interest rate is low invest it in a business, there is no access to loan in my company so I don't have the opportunity..

7. Lastly know that you can't be young for life make sure you have a business running for you so that when the work force is rejecting your age limit, you will have something to fall back on
I reject poverty for me and you.
Thank you.

All you said is true, but, you didn't provide alternative for when hard times hits you.

I am a salary earner, saved up, even took loan too and set up a biz as my second source of income, also hoping to resign oneday and fall back to it.

Do you know That on June of this year, market fire burnt my shop, goods and all my money to ashes. Not even a pin was saved.

My years of investment gone like that.

Life is so unpredictable, Life is so hard when you are born in Nigeria.

oluplus:
Words of wisdom.
Thanks for the advice.

Can we reach out if we need help?

Reaching out if u need help is good but don't make it a habit. Grow dat mentality of... No 1 will help u. Get up and do the needful. Dnt ever think it wunt work. Try it 4 times first. Before u can seek for help. To make it work. Alot of youths have given up on life already. They focus on the hardship instead of focusing on the solution.. it's well.

Love800:
Can a private worker open retirement savings account?

Yes. You can key in under micro pension scheme.

Contact any Pension Fund Administrator like FCMB Pension Ltd, Access Pension, Fidelity pension, Trustfund pension, etc

You can see their contact via their website

Okay.
Nice. I understand you.
I so much appreciate.

epainos:

Risk-taking is something else, and we all have different risk tolerances.

My question is this: If the guy who started this thread uses his life savings to start a business, and it fails, do you think he will not think of committing suicide with his tone? My comment only highlighted the high risk of business failure. So, do you really believe that personal savings, particularly in a harsh economy like Nigeria, are only sufficient for a first-time business venture? It is now up to everyone. We should decide what we want. But I advise everyone to be prepared to fail. Why take such a risk if you know you will be unable to recover from such failure? That is an unnecessary risk. But some will still do it, and they will begin shouting "my hard-earned savings." Lol.

Interesting thread. The OP and the person posting investment strategies have done well.

To add, one sure way of increasing one's earnings is by improving one's skillset so one becomes qualified to compete for higher-paying jobs. A higher salary with a slight increase in living standards would provide additional funds to set aside for investment purposes. So, for those earning lowly now, improve on your skill set so you get higher salaried roles.

MONEY247:

I am not complaining oooo...
But check the timeline and period of economy descrampcies.....
You must be close to 30 or a little bit above 30.......do the maths... check when you were 25 and now 30... Or so
Now you could get get a bag of rice for less than 30k 3 years before now...
Can 30k even give you a good meal..... daily if you spread the money for daily feeding.....
I know something that could make you a millionaire with that 30k in a year.
I have a ton of business ideas in my head.... especially food business.... but there's no environment to do it......
I would like to come close to anyone who has achieved built a house... with a 30k salary..... from 3 years ago timeline without getting into criminal activities or massive support from family and friends....
Nobody supports me oooo....
Nah me and my God....

If you know anyway I can go into any investment or any stuff that can turnover I my salary......I am ready to join....
Walahi....

I know something that can make you a millionaire with that 30k .

Ouchbabe:

Let's be practical now.
I'm a teacher in a private school in Lagos. My school don't support after school lesson. Kindly advice on what I can do.
I do branding of t-shirts, exercise books, banner as side hustle but the order is not regular.
Please I'm ready to try out new things that will work

Are you sure you are ready?

There is alot to learn on here

boldsleek:
All you said is true, but, you didn't provide alternative for when hard times hits you.

I am a salary earner, saved up, even took loan too and set up a biz as my second source of income, also hoping to resign oneday and fall back to it.

Do you know That on June of this year, market fire burnt my shop, goods and all my money to ashes. Not even a pin was saved.

My years of investment gone like that.

Life is so unpredictable, Life is so hard when you are born in Nigeria.

So sorry about your loss.

Many will keep lamenting but have come to realize that many skills, business, that can make like easier for us might not be in a place where you are at moment, it might be in a very far place, And you are to learn it, Now, the teacher will not want to teach you anything for free but will be paid.
Now, that is where the problem is:
Some people can not just use ordinary 500 naira as play online, I mean sending it to someone that want to teach you something.
If you are that type that you always think every one around you asking for money for something you
want to learn are scammers, you might never make it. It might be like curse but it’s not.
Let’s learn to be able to trade with little money that you know even if things doesn’t works as it narrated, you won’t even bother about the money.
I don’t know if am the only person that does that, have taken a lot of crazy risk when it comes to sending money to people that I met online for business, it was last week I sent a goods worth 30k to a man I meant on group and he paid after collecting.
What am I trying to say, their are tons of skills, ideas, training, that you can learn but most of it will be in a place you can’t access with your physical eye or leg, it is mostly online, so you go they try until you get a reliable person.

Let me tell you my past online business transaction
1) Have sent a maize planter that worth 60k to a guy I met on agricultural group on WhatsApp without collecting money first.
2) Have sent watermelon seeds severs times to someone I met on WhatsApp group that he eventually returned it, I don’t know this person.
3) Have given business idea to an agriculture group that made a man in Texas dm me and we are friends today.
4) Have given a watermelon planting skills that made a guy on naira land come to see me in my place.
5) Have bought several things on random person especially something I can’t get in my area and I do pay first, some times I will be scammed, some times I won’t,
6)Have once told a guy that I can be teaching him Yoruba on a Facebook group and he pays like 45k to me weekly, I told him our first month will be free.
7)Have sent 15k to a guy on Facebook ads that said he taught content creation and I wasn’t scammed, although it didn’t work eventually.
Have sent money to different people that are into importation training and exportation, even I still sent 5k to a man two days ago, it’s not that I have money per say but am just the type that do try new things, if not that I do buy those courses, I won’t know that some people are making money secretly in this same Nigeria, their is a place in Lagos you can buy good polo from Asia at 1,500 and you can sell at 10k.
Yes, 10k, even 15k, all this things am telling you is because of those risk like pay 2k for this, pay 3k, pay 5k for these that made me know those stuffs.
9)I met a man some months ago that sell links of those into mini importation, if you see how cheap some goods are, you might not want to work anymore.
10) Have paid a man around 25k to learn survey , this man was met on Facebook ads, if you see how people they make money in that group, Omo you might go crazy, a guy made 600k naira in just a day.
Though have not start mine because have not completed my money to pay the man.
Now, those things I stated above cannot be possible even am always afraid that they are all scammers.
I can show you evidences if everything.
So, don’t hesitate to try new things,
Don’t always think everyone is a scammer.
Trade money online to learn skills but make sure it’s something you won’t be bothered even if it goes wrong.
Ire o

Ibechris2:



Business decision is subject to ur locational I really do not know much about ur location.

Irrespective of ur location,if u are a civil servant that usually have time pls,start phone accessories business. U see that business,it is profitable and no-one would ever tell u this.

U can also employ a lady to assist u in running it in the day,while u take take over every evening and weekends.

Think about this and if know how to repair phones...my brother u are made.

Wow. Just what I have in mind to do. I'll be starting next year. I'm adding charging of phones to it and POS. I really know much about phone accessories and I even buy for people whenever I go to Alaba International.

God bless you sir.

GBPUSD:


Wow. Just what I have in mind to do. I'll be starting next year. I'm adding charging of phones to it and POS. I really know much about phone accessories and I even buy for people whenever I go to Alaba International.

God bless you sir.

U are welcome and all the best my brother.

Hamachi:
Investing can be addictive. You may say when my portfolio get to 1 million I will do this or that. You soon find yourself trying to chase 1 billion and later 1 trillion etc.

Thats life. We always aspire to go higher otherwise life becomes stagnant and dull. However you should know when to stop and just simply enjoy life.

Ibechris2:



Hmm...gambling isn't an easy thing to turn away from.

Exactly. Just start a project. I have a project of over 100 million. Now it's going to the me over a year to complete it

Meerahbel:
Rule 4 in business even if his your father have a signed agreement with the person.

Leave agreement. Just do it simple. But make sure he is not poor.

jayce232:

The person u quoted stated he earns 30k, u are still saying he can save 5k to 10k from it monthly? Have u been to the market recently? I went to market today, I spent 15k on just tomatoes, fish & sweet potatoes. I have only 100 naira left of the 15k. Let's be realistic with our projections pls. Things are crazily expensive out there.

He can save 5 or 10k from 30k salary. It's the willingness that matters.

Tohsynetita1:

I know something that can make you a millionaire with that 30k .

please can you share

SoaringLife01:


Using net salary of 250k as an example, how can one live on 75k after 70% savings.
It is kinda unrealistic to most average Nigerians.

It's doable. Cut your expenses and simplify your life. Do as if your salary was short paid.

IyaTola:
Are you married?

Yes, breadwinner with three kids.

Saving is pointless. The koko is investing. I saved from my old job. It took me for only one year out of four when laid off. I’m looking forward to investing and side hustles which I was told could make more return than my nine-to-five. I was shown multiple real world examples of people who followed through then eventually abandoned office jobs to face their businesses squarely.