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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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6 Modern Ways Of Saving Money In Nigeria

Odi Chukwuemeka Valentine

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How To Invest 1 Million Naira In Nigeria – Best 3 Places to Invest

Gudtalent Chrisent

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While so many people are searching for the best Nigerian investment companies that pay weekly and investment with monthly returns in Nigeria, this article is a short breakdown on how you can invest 1 million Naira in Nigeria and be sure of a good return of investment in a matter of months.

So, if you still have the question of ‘Where should I invest in Nigeria come 2021?’Below are 3 solid recommended investment moves you can make without regrets;

How To Invest 1 Million Naira In Nigeria

  • Invest on SHIFDA on Sumotrust

Sumotrust is a secure savings and investment platform popularly known with a good reputation for helping customers save and invest money. Investing with Sumotrust is already recommended and one of the best investment options in Nigeria. They offer a secure hedge fund program called SHIFDA for high net worth investors with a 24% return on investment per annum.

The minimum investment is 500,000 Naira and you can invest as much as 100 Million Naira.

SHIFDA means Sumotrust high interest fixed deposit account which works like a fixed deposit with a minimum of 6 months maturity and can last as much as 10 years.

To get started with SHIFDA by Sumotrust; 

  • Kindly visit www.sumotrust.com and create a free savings and investment account.
  • Login to your account and navigate to the ‘SHIFDA Wallet’ tab from the menu section.
  • Read through the details and follow the instructions given to invest.
  • Once your Investment request has been approved, go ahead and create a ‘Fixed Savings’ in your account, you will see a notification about your account qualifying for SHIFDA. Kindly fill-up the form and complete the process.
  • On the maturity date, your capital and interest will be automatically released into your Kick wallet where you can withdraw instantly to your Bank.

There are lots of invest-earn-daily on Nigeria platforms, but for the purpose of security; I can’t recommend any of them. However, If you’re looking for where to invest money in Nigeria; Sumotrust should be your best choice because it is trusted and has maintained a good reputation over the years as one of the reputable investment companies in Nigeria.

Related: How to Invest 5 Million Naira in Nigeria.

  • Invest in Cryptocurrency

Cryptocurrency investment is known to be the best investment of the last decade as seen on CNN. However, investing into cryptocurrency can be tricky and will cause you to lose money if you don’t know the right portfolios to hold.

If you’re just getting started, definitely, Bitcoin is one if not the only cryptocurrency to hold onto until you gain deeper knowledge and understanding of investing into cryptocurrency.

With platforms like Truzact, investing in cryptocurrency in Nigeria will never be a problem for you; as you can easily make Naira deposits using your Naira debit card or the virtual account number is given to you and instantly convert it to Bitcoin.

The platform (Truzact) also allows you to save in cryptocurrencies and earn interest on your savings. To start investing into cryptocurrencies in Nigeria, kindly visit www.truzact.com and create an account, fund your wallet, and instantly swap it to your favorite cryptocurrency.

  •  Invest in Foreign Stocks or Buy Eurobond.

The Nigerian stock market haven’t performed really well when compared to the foreign stocks for some reasons like inflation against the Naira and other factors. 

However, investors are resorting to putting their money in foreign stocks where they get to bypass the adverse sides of inflation on the Naira. You can download the InvestBamboo app from Google Playstore or Apple store, fund your account with Naira and buy US stocks directly from the App. 

Understand that the performance of your foreign stock investment is also determined by fundamental and technical analysis just like investing into bitcoin in Nigeria, so you will also need to do your due diligence before making your decision.

Looking at the 3 investment options in Nigeria listed here on how to invest 1 million Naira, Only investing with SHIFDA on Sumotrust promises secure investment and less risk management.

Still have the question of ‘where to invest my money in Nigeria’? Kindly check out the list of top investment opportunities in Nigeria.

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Cryptocurrency The Best Bet As Nigeria Hits Recession Again

Denwigwe Blossom

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Cryptocurrency The Best Bet

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