6 Ways to save money when you return to Nigeria.

Visiting Nigeria a few times to study the culture and get the feel of the place before finally returning and settling down is advisable. Settling down in Nigeria takes time and drains money, especially if you have nothing yet yielding money. 

Agege Market, Lagos, Nigeria

Here are six ways to save money when you return to Nigeria.

  • Domestic Staff – Employing every available domestic staff such as housemaids, cooks, security officers, drivers, etc. might not be necessary. Do bear in mind that having such may prove stressful, time-consuming and money-draining. However, work out carefully what your needs are before hiring.
  • Take your time and be calculative – As soon as you get to Nigeria, do not rush into any type of business or employment. (That is if you are not engaged in any business or employment before your arrival.) It is wise to study the psyche of the people, work ethics, business culture and the dynamics of the country.
  • Invest your money – If you have a substantial amount of money you have put aside for business and you are taking your time to get used to the system and the culture of Nigeria, put the money in a fixed deposit and enjoy the benefits of the interest. There are many available, shop carefully. Or you can acquire land but make sure you secure it to prevent encroachment.
  • Prudency when shopping for food – Make a habit of going to the market to buy fresh food. Even though our open markets can get messy and overcrowded, local food is fresh and cheap compared to buying everything in the supermarket. 
  • Electricity Outage – There will be power outage regularly. The outage may vary in length depending on where you live. If you live in an area where there is a regular shortage of power, make sure you plan carefully the times you will utilise your generator to avoid spending lots of money on fuel. Cultivate the habit to switch unused electric items off as a means of conserving energy. You may consider alternative sources of power like solar panels and inverters. 
  • Fashion – Nigerians are fashion conscious. You can still dress fashionably without breaking the bank. Taking your materials to the tailor and sewing your cloth is quite common. Be aware that many materials do go out of fashion very quickly and they can be expensive. Some materials that stay in fashion are, Ankara – (African print material), Cotton Lace, Adire – (African tie and dye) and smart casual western clothes.  

4 thoughts on “6 Ways to save money when you return to Nigeria.

  1. Olasoji Sanni Reply

    Brilliant ideas as usual! I find this piece really useful mainly because most things takes longer to accomplish in Nigeria so planning for that is essential.

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