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How To Save And Invest Money In Nigeria

Ossi Samuel



save and invest money in Nigeria

How To Save And Invest Money In Nigeria

I used to think that keeping money in my box was the only method of saving money. As I grew, I began to think just keeping money in the bank is the ultimate. Following growth and financial literacy, I have come to understand that it might not be the best financial decision.

Saving is defined as keeping money aside for future use rather than spending it all at once.

Investing, according to Investopedia is the act of allocating resources usually money, with the expectation of generating an income or profit.

A simple analogy for investment is planting a grain of corn and reaping a plant containing 5 or 6 cobs.

It is absolutely possible to save and invest your way into wealth. All it requires is the right financial knowledge and consistency.

Related: 20 ways to save money every month in 2020

How to save and invest money

1) Stocks.

Buying stocks is a good way to save and invest money in Nigeria. People have been misguided over the years that stocks are only for the rich and have lost out on juicy opportunities. The rich get richer because of financial literacy.

According to Investopedia, a stock also known as equity is the security that shows ownership of a part or fraction of cooperation. Stocks are mainly sold through stock exchanges.

The purpose of selling stocks buy companies is to raise funds to enable the smooth run of the business.

The person who bought the stock is referred to as a shareholder.

With as little as 5,000 naira, you can acquire stocks or shares in several companies.  Stock trading is akin to killing two birds with one stone because you are saving and investing at the same time. With the maturation of the stock, you can make a profit of more than two times your down payment.

2) Mutual funds

With mutual funds, it becomes easy to save and invest money in Nigeria.

A mutual fund in layman’s terms is a collective Investment scheme or program set up by a money manager. The manager stands as a broker, gathers money from different individuals, and invests it into profitable financial schemes.

To use mutual funds, you do not have to be very informed about the financial market. The financial manager can stand in for you and also offer financial advice where necessary.

The average returns of mutual funds gross about 15%.

Some of the best mutual funds include Stanbic IBTC Equity Fund, ARM Aggressive Fund, United Capital Balanced Fund, FBN Money Market Fund, United Capital Money Market Fund, Stanbic IBTC Money Market Fund, ARM Money Market Fund, Cordros Money Market Fund, and Coronation Money Market Fund.

3) Online savings and investment applications

Technological advancement has made it easy and has shown how to save and invest money. Several online applications exist and can be used to save and invest money from the comfort of your home. It takes away the hassles and stress of going to a bank, queuing up, speaking to financial managers, and all.

Online savings applications can be connected to your checking account, where deductions are made on a weekly or monthly basis.

Examples of such online applications include

  • It is an automated online and Investment platform dedicated to helping Africans achieve financial literacy. Saving with Sumotrust earns you a yearly mouth-watering interest of about 10-15%. Saving with Sumotrust takes away the frustrating bank charges and hidden fees.

    It was founded to encourage the poor rate of savings and investment in Nigeria, especially amongst the younger age group. Sumotrust has a high-interest rate and one can join with as low as 100 naira. This top online investment platform is open to people from all walks of life and occupation ranging from freelancers to students, civil servants, etc.

    One of the good features that made SumoTrust number one on this list is its high taste for customer’s account security. Even if your Sumotrust account gets hacked, the hacker won’t be able to change your bank details and withdraw your money, a KYC form will be needed to be submitted before the approval to change bank details can be given. Sumotrust as the best digital savings platform also uses a powerful blockchain security protocol to protect accounts that has it activated.

    It is also on a quest to raise 1 Million African entrepreneurs in partnership with Entrepreneur Platform to access discounted-free Online Business Academy for its users and African business forum to collaborate and work with like minds in building better and sustainable businesses.

    With Sumotrust, you also get access to various business leaders in different industries at discounted fees (for business consultations) to help you grow and scale your business.

    Even though you can use Sumo Trust to save for any reason (Business, travel, school, emergency funds, school fees, shopping, property, etc) it’s a core value is tailored to helping young Africans build wealth with little efforts.

    Sign up and start saving with Sumo Bank at

    • Piggyvest:

    This is another online savings platform in Nigeria. It helps individuals achieve financial freedom by allowing you to save responsibly and on the go. It offers up to 10-15% interest on savings yearly and almost up to 25% interest in Investments.

    There are options available for co-investments with other Piggyvest users. With Piggyvest, you have the right to decide on your investment of choice and engagements. The application also has a feature for the best saver of the month which spurs other individuals to want to save more.


    • I-invest:

    This is an online Investment platform that enables people to purchase securities and other bank securities without the aid of a broker. It has a dashboard that helps customers track Investment portfolios and create a way for retail investors to save money.

    The online Investment platform also offers attractive interest rates. Examples of investments that can be done using the platform include Eurobond, which are Investments issued in a currency not native to the issuer’s home country.

    Other examples are equities and treasury bills.Getting started on the platform is as easy as just downloading the application, register, log in and invest. Visit here for more information.

    • Cowrywise:

    This is another great online Investment platform good for saving money and making Investments. Saving money on this platform can exist under different plans. It includes the regular savings where money can be saved on your own terms for up to three months. Life goal savings are great for long term plans and can last for up to one year with great interest rates. Halal savings are plans that exist for Muslims. Investment plans also exist.


4) Treasury bills

Another great method to save and invest money in Nigeria is to buy treasury bills. Treasury bills are guaranteed debt instruments by the government to finance expenditure. They are sold through a bi-weekly auction carried out by the Central Bank of Nigeria. Buyers make bids after which the minimum bid is selected.

Treasury bills can be bought through a dealer or can also be bought through the i-invest platform. They are sold for as low as #1000.


The above article has dealt extensively on how to save and invest money in Nigeria.

Saving could be for a long term or short term goal but whichever it is, saving is not just enough. Investing money brings greater returns and provides profit too.

Following Investment, you tend to sail above inflation tides. Saving does not protect you from inflation.

Investment helps you build wealth. It’s a steady process requiring consistency and effort in the right direction. Temptations may arise for the easy way out but one way of sidestepping it is by making financial goals.








Ossi Samuel is a mafian thinker, an avid reader and writer, and political analyst. Am a humanitarian and fun loving person. I love Tech by the way and will always have your time if you have any ideas. I can be reached on Facebook

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3 Major Startup Financing Challenges And How To Solve Them

Ossi Samuel



major startup financing challenges



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How To Make Money As A Secondary School Student In Nigeria.




It is true that you can make money as a Secondary School student in Nigeria. However, the challenge most times is how to go about it. This article explains the steps and how to leverage the available opportunities.

As a student in any secondary school in Nigeria, you might have had the thought of how you can make some money for yourself. The economy of Nigeria isn’t doing so great and most people have to fend for themselves. Your parents might try to meet your basic needs, but most times they just cannot satisfy all your wants. This is why you also need to have a way you make some extra cash for yourself. You can even start supporting your parents by paying some of the bills and saving up for your college.

You might have been told by your parents or guardians that you need to focus on your studies and get good grades. However, as a secondary school student, you have a lot of free time on your hands. If you know how to manage your time well, you can juggle part-time work with your academics and still make excellent grades. In this article, you will find out ways you can make money in Nigeria as a secondary school student.

8 Lucrative Ways To Make Money As A Secondary School Student In Nigeria

(1) Do Freelancing

This is one of the best ways to make passive income, even as a secondary school student. Freelancing is the process where you offer your services/skills to people in need of them. You as a freelancer have the freedom of choosing your working hours (obviously would be after school hours or on weekends). Skills like Graphic Design, Web Designing, Copywriting, Voiceover, etc. can make you handsome money if you know how to do them.

Although having a good digital skill will increase your chances of earning more on freelancing platforms, you can still do some simple jobs to get some cash. Some of these simple tasks include writing articles, proof-reading, transcribing, typing, and a few others. Here are some freelancing websites you can check out

  1. Fiverr
  2. Freelancer
  3. Upwork
  4. Guru
  5. iWriter

(2) Become A Hair Stylist

People always need to get a haircut every now and then. Ladies also love a good hairstylist that can make their hairstyle look like a princess’s own. If you have this skill, you can use it to make some money for yourself. Most ladies know how to plait simple hairstyles; you can do this for your classmates and charge them for your services. You can learn this skill from a barber/hairstylist in your area. It can take you a few months to have a good grasp of how to do it. Once you get good to an extent, you can start off on your own in making money with your new skill. You can also negotiate with your boss to give you some amount when you help him/her style a person’s hair.

(3) Sell Stationeries

Selling some stationaries in the school environment should not be that hard. Students always need an extra pen or a new notebook. You can be making money by meeting the needs of your fellow student. Stationeries such as school textbooks, rulers, graphs, rulers, pens, mathematical sets, etc. are materials you can easily sell. You might have to get capital from your parents or someone else to start off. Make sure you keep a record of your sales so as not to run at loss and also protect your goods from possible theft.

(4) Do Assignments for Fellow Students

Perhaps you are a very bright student and people always flock around you to copy your assignments. You can turn this into a money-making scheme for yourself. All you have to do is inform your mates that you can solve their assignment problems for a token. You get to make some money and educate yourself some more in the process.

(5) Become a Tutor

Tutoring is another means you can make cool cash for yourself. You can teach subjects you know very well with other students. A lot of students need help figuring out certain things, especially in English and Mathematics which are compulsory subjects. You can also work as a home tutor, teaching students who are a few classes below you. The money you will earn won’t be very high but it is enough to pay some of your bills.

(6) Work at A Restaurant

There is barely anywhere you go where there won’t be a restaurant. People always need to replenish their energy and feel good. Restaurants are always looking for extra workers to meet the demands of their customers. You can work in a restaurant after school hours or during weekends depending on your preference. It is not compulsory for you to know how to cook before you can work there. There are various other tasks that don’t require that kind of expertise. Make sure you do not overwork yourself as you would need to go to school the next day fully active.

(7) Write Contents for Individuals and Corporate Bodies

Content writing is a good way to earn an income and also educate yourself in the process. There are numerous blogs and website that needs people to write contents for their platforms daily. You can write articles for them and get paid some amount. iWriters is one platform that you can sign up on to work as a writer. They link you up with clients that need your service.

(8) Apply for Scholarships

This is a great way to make money and also make your parents proud. There a whole lot of scholarships out there for secondary school students that you can participate in. If you know you got what it takes to compete, go ahead and you might win yourself a handsome sum of money. You can also participate in various competitions and win cash prizes.


The ways to make money as a Secondary School student in Nigeria are not limited to the above list. However, you have to be willing to work to make the money you so much desire. Make sure you inform your parents before taking up a job as they might have objections or advice based to offer you. You do not have to involve yourself in scams or scandalous activities to make money as a student. Work diligently and smartly, you would eventually become self-dependent someday.



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How to Make Money in Nigeria as a Teenager




Would you like to make money in Nigeria as a teenager? I guess so. Even if you are not a teenager reading this, this article can still help your teenage child, friend, neighbor, student, relative and/or any teenager around you. By the way, by teenager, I am referring to anyone between the age of Thirteen (13) and Nineteen (19).

Now, the online world has presented us with such vast opportunities that you do not have to go through years of college before you start earning cool cash for yourself. As a teenager, you can start earning even before you enter college. Many people surf the web daily, looking for ways to make some money. You might need the need an extra source of income, either to support your parents or to buy those cool sneakers you have been eyeing for a while.

Getting some of your bills paid yourself would greatly ease the burden off your parents’ shoulders. You could even start saving up and investing to ensure yourself a financially buoyant future. Note: as a student, you still need to focus on your studies and not flop in your academics. This is why you need to take on what you can handle as a teenager. Get rid of the mindset of involving yourself in get-rich-quick schemes, all this would do is land you in debt or a loss.

The ways to make money in Nigeria as a teenager shared in this article are legit and more of a side hustle. But they are sure to make you some bulks. You could end up turning it into your future career if you are passionate about it.

5 Legit Ways To Make Money in Nigeria as a Teenager

Below are five great ways to make money as a teenager:

(1) Start a YouTube channel

We all have something we are passionate about. This can be a selling point for you. People are always going to YouTube to find helpful information, but mostly to entertain themselves. YouTube provides you with a wide range of audience; you can get creative and interest them with something.

If you consistently post good content, you are sure to get audiences for yourself. YouTube will pay you per view that you have on your videos. This is a great way to earn some cool cash even from the corner of your hostel. You might need to get a phone with a good camera, or just a digital camera if you can afford it. There are even tutorials on YouTube on how to start a YouTube channel.

(2) Become a Freelancer

If you have a digital skill that you are good at, you can sell your services to clients on freelancing platforms and get paid in dollars. A lot of people are making a living as a freelancer, some have even gotten very rich through this means. Although you really need to be good at your craft to constantly get clients in need of your services. While there are many skills you can market, a few of them stand out as high-income skills.

For example, skills such as content writing, web development, graphic design, video animation, and some others are in high demand. You could even land a contract job through some freelancing website, and work with a particular company for months, years even. Some freelancing platforms you can check out include Fiverr, Upwork, guru, freelancer, etc.

(3) Work as a Tutor

Perhaps you are a guru in a couple of subjects while in Secondary school or you just have certain skills that you can teach to others. You can turn this into a source of income for yourself. Organizing tutorials for your fellow students and others who want to learn from you, charging them a few bucks for your knowledge.

Many parents are even looking for personal tutors to take their kids some subjects in their homes. They pay good money and you do not have to worry about renting a space for your lectures. You could end up using the experience you gather from this job to land a Teaching/Lecturing job later in your future. Trust me, people are willing to pay for the knowledge they know they really need.

(4) Venture into Photography

If you have a knack for taking great pictures, you should consider using this skill to get yourself some cool cash. Each day, there is one event or the other. Weddings, House warming, Naming ceremonies, reunions, memorials. They all need someone to capture the memories in cute pictures. You can consider printing out business cards for yourself and handing them out to event planners you know, so you would be their first choice when in search of a photographer.

Be sure to have some samples of your previous works to show your credibility. You do not even have to be invited to these events to go there, most of them do not need invitations. Just go there, hang around with your camera and it’s sure you would see people calling you to take their pictures. Nigerians also love doing photo-shoots every now and then. You can add this to your list of services and have people book sessions with you. If you know your craft, this is a sure-fire way of getting cool cash and you can live comfortably off your earnings.

(5) Do Blogging

Much like having a YouTube channel, blogging is another confirmed way for you to make quite an amount of money. This method needs a lot of patience and hard work, but you can be sure it would all pay off in the end. You have to share great content of your blog consistently to get a good audience to your blog.

There are many online guides (videos, pdf(s), other blogs) that can help you figure out all you need to know before you start blogging. Keep posting on your blog daily to get people’s attention, you can keep a content calendar to help you with this. Once you get a good number of audiences, you can start earning on your blog through advertisement.


There are always opportunities to earn more money today and as a teenager, you are not left out. If you know how to take advantage of the many opportunities out there, you can make money in Nigeria as a teenager with ease. You have to be willing to do some work in order to get paid a good amount of money. Your credibility is very important in any job you take up and people should be able to count on getting quality work from you. Make sure you take your time to figure out which one of the above ways you want to go into, you can even choose to pick multiple ways. Just make sure you are able to deliver on a deal, on time, and in great quality.



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