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How To Save And Invest Money In Nigeria: Tips You Must Not Ignore

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How To Save And Invest Money In Nigeria: Tips You Must Not Ignore

save and invest money

There are lots of options available when you plan to save and invest money for returns in Nigeria. Gone are the days when you go to a carpenter to construct a wooden box where you can be saving money daily with no returns. In this article, we shall be discussing the different avenues where you can save and invest money for good returns. It is one thing for you to save your money and an entirely different thing to find good investments.

Also read: How to save money in Nigeria

This article will help you in identifying those wonderful investment opportunities where you can save money and earn good returns. There are lots of financial investment opportunities in Nigeria that you can give you passive income. Anyone can save and invest money but when it comes to how to invest your money wisely in Nigeria, you need all the help you can get. If you are thinking about where to invest money in Nigeria, you are in the right place by reading this article.

The tips that have been highlighted for you are as a result of a good research findings. So, you need to take them very seriously if you wish to save and invest money for good returns. You will get to know about investment with monthly returns in Nigeria. There is also high yield investment in Nigeria that will also be availed to you in the course of this article. You just relax and read it through as it promises to be informative and important all the same.

It is very important that you carry out your own research before engaging in any of the savings and investment platforms listed here.

Where To Save And Invest Money In Nigeria

  1. Save and invest money with Sumobank

Sumobank (www.sumobank.ng) is one of the leading online savings and investment platforms in Nigeria. From what I have researched about this platform, you can save as little as #100 daily, weekly, or even monthly. In fact, they have made the way you can save and invest money in Nigeria very easy and simple. This online banking platform has features that will help you save and invest more while spending less.

Sumobank bank features like Autosave allows connecting your bank account directly to your sumobank account in order to automatically credit your sumobank account at a stipulated time interval. You are paid 10% annual interest for the total amount saved on their platform. They also have a mission account where you can decide to deposit an amount of money for a fixed period of time for an annual interest of 15%.

If you have been searching for a means to save and invest money in Nigeria, sumobank is a great place to start. There are also other online savings and investment platforms in Nigeria like Cowrywise, Piggybank, etc.

  1. Save And Invest Your Money With The Federal Government

You can save and invest money with the savings bonds created by the Nigerian government. In this case, you are lending (saving) money with the federal government for which the government will pay an interest. It will interest you to know that under the Federal Government of Nigeria Savings Bonds you can invest between #5,000 to #50, 000,000. Your investment will be for 2 to 20 years and the interest is paid twice a year however, the interest rate depends on the time-frame of your investment.

See: How to save money as a student in Nigeria

One very interesting thing about this particular means of saving and investing is that the money you save can be used as collateral if you need to get a loan from any commercial bank in Nigeria. The interest on the FGN savings bonds can be as high as 13%.

  1. Save And Invest Your Money In Stocks

You can also save and invest money in the stock market in Nigeria. While trying to save and invest money in stocks, it is very important that you carry out a good research about the stock market. There a lots of variable to put into consideration before investing in stocks, so you must conduct a quality research. As an individual, your investment in stock starts at #200,000 and #1,000,000 for companies.

The good thing about investing in stocks is that it is very liquid and can come in handy in times of an emergency.

  1. Save And Invest Money In Real Estate

Saving and investing your money in real estate is a high yield investment in Nigeria. There is no doubt that real estate among the lucrative financial investment opportunities in Nigeria. The only set back here is that is that it requires a huge capital to start. For the fact that Nigeria is a developing country means that real estate investment is highly profitable.

See: Learn to save, never be embarrassed because your are broke

You need to always put into consideration the location of the property that you want to purchase. Don’t make the mistake of investing in a property without considering the surrounding environment.

  1. Save And Invest Your Money In Agriculture

Currently, the agricultural sector is among the sectors that has been creating millionaires in Nigeria. It is impossible to talk about where to invest money in Nigeria without mentioning the agricultural sector. Considering the fact that the government has continued to drive the agricultural sector in their bid to diversify the economy means you must pay close attention to this sector.

There are lots of agricultural investment opportunities in Nigeria where you can save and invest your money for good returns. You can consider plantations, crop farming, and animal husbandry, just to mention but a few.

There are numerous financial investment opportunities in Nigeria where you can save and invest money. Whatever you do, ensure that you carry out your own research in order to make an informed decision when investing your money in Nigeria.

  Conclusion…

There is no society that someone becomes wealthy by simply saving money. So, while planning on saving your money, ensure you also identify a good investment opportunity with good returns.

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