Hi fellow nairalanders, your help is seriously needed..
i just want to know if 5million naira is enough to start up a life in Nigeria at the moment.I mean for somebody who is educated with BSc certificate but does not want to take up any job.somebody who prefers to run his own business.If the money is enough,please suggest what(any business) he can possibly go into.please be realistic.your comments will be invaluable.thanks.

if you are a graduate then u shld know the answer; if you are yet to be, you will know the answer upon graduation. Cheers

5 gini? 5 Milla? With that amount, I can GUARANTEE at least 500k everyday without stress.

ikp120:
5 gini? 5 Milla? With that amount, I can GUARANTEE at least 500k everyday without stress.

Your suggestion will be highly appreciated.

agohmamuda:
if you are a graduate then u shld know the answer; if you are yet to be, you will know the answer upon graduation. Cheers

I don't understand.

Hmmm in the real world.. 5mil small sha

Try to invest with it,it will b OK 4 a good start up investment

iTunechi:
Hmmm in the real world.. 5mil small sha

Yeah I know. That's why I need your help

moblix:
Try to invest with it,it will b OK 4 a good start up investment

What sort of business please?

Lalasticlala please help me out.

Koval12:

What sort of business please?

With such amount u are bless,dey are any business think of d 1 u can do and pray to God for multiplication

Koval12:
Hi fellow nairalanders, your help is seriously needed..
i just want to know if 5million naira is enough to start up a life in Nigeria at the moment.I mean for somebody who is educated with BSc certificate but does not want to take up any job.somebody who prefers to run his own business.If the money is enough,please suggest what(any business) he can possibly go into.please be realistic.your comments will be invaluable.thanks.

Your question seems broad.

Everybody is different, however the key costs you'll face will include

- Accommodation
- Transportation
- Feeding

Since you're starting out, you need to find ways of keeping these costs to the barest minimum. That is, until you can generate enough cash flow to "upgrade".

How to generate cash flow?

Remember the proverb about the lizard and the rat. The lizard dived into the pool, swam to the other side and quickly shook off all the water on his back. The rat copied him...and then tried to shake off the water, but couldn't, as his fur was deeply soaked...and the rat died of cold

In short, you'll have to find income-generating activities that will "rhyme" with you as a person, based on clear motives.

By the way, why are you thinking of "running your own business"?

alignacademy:


Your question seems broad.

Everybody is different, however the key costs you'll face will include

- Accommodation
- Transportation
- Feeding

Since you're starting out, you need to find ways of keeping these costs to the barest minimum. That is, until you can generate enough cash flow to "upgrade".

How to generate cash flow?

Remember the proverb about the lizard and the rat. The lizard dived into the pool, swam to the other side and quickly shook off all the water on his back. The rat copied him...and then tried to shake off the water, but couldn't, as his fur was deeply soaked...and the rat died of cold

In short, you'll have to find income-generating activities that will "rhyme" with you as a person, based on clear motives.

By the way, why are you thinking of "running your own business"?

Don't want to exploited by someone and at the end, I will have nothing to show for the time, energy and resources wasted.

Koval12:

Don't want to exploited by someone and at the end, I will have nothing to show for the time, energy and resources wasted.

Hmmm

That motive may not help you pull through the rigours in business.

Being "exploited" involves many factors, including not taking responsibility for one's life. Y'know, the old "Massa-will-take-care-of-me" mentality. That is the major obstacle that wastes people's lives.

Perhaps you could look into getting a steady career and then if business is your thing, do it on the side. If the business grows, no one will tell you when you need to commit full-time

alignacademy:


Hmmm

That motive may not help you pull through the rigours in business.

Being "exploited" involves many factors, including not taking responsibility for one's life. Y'know, the old "Massa-will-take-care-of-me" mentality. That is the major obstacle that wastes people's lives.

Perhaps you could look into getting a steady career and then if business is your thing, do it on the side. If the business grows, no one will tell you when you need to commit full-time

I have worked so hard that at this point in my life, all I wish for, is to be my own boss, or have people working for me

Koval12:


I have worked so hard that at this point in my life, all I wish for, is to be my own boss, or have people working for me

"The plot thickens..."

With all those years of work behind you, I'm assuming you now have a family and dependants.

That's what makes taking the plunge very difficult.

Because nobody wants to know that your monthly sales have been a bit slow; you still have pay your kids' school fees.
And the landlord will still want his rent paid.

Your case seems deeper than at first blush. I advise you get competent advice before you make any major move.

Peace.

alignacademy:


"The plot thickens..."

With all those years of work behind you, I'm assuming you now have a family and dependants.

That's what makes taking the plunge very difficult.

Because nobody wants to know that your monthly sales have been a bit slow; you still have pay your kids' school fees.
And the landlord will still want his rent paid.

Your case seems deeper than at first blush. I advise you get competent advice before you make any major move.

Peace.

Am still a young boy in my mid twenties

Koval12:

Am still a young boy in my mid twenties

OK

I assumed you had worked for maybe 20 years or so

Cheers!

alignacademy:


OK

I assumed you had worked for maybe 20 years or so

Cheers!

I can't possibly be starting life after working for 20 years as assumed.

Koval12:

I can't possibly be starting life after working for 20 years as assumed.

LOL

Didn't even know from the original post that you had already started working.

Yes, "starting life" has different interpretations

Koval12:
Hi fellow nairalanders, your help is seriously needed..
i just want to know if 5million naira is enough to start up a life in Nigeria at the moment.I mean for somebody who is educated with BSc certificate but does not want to take up any job.somebody who prefers to run his own business.If the money is enough,please suggest what(any business) he can possibly go into.please be realistic.your comments will be invaluable.thanks.

With 5million you can invest in Palm kennel oil mill industry. Getting guarantee 100% ROI in less than 8 month. Kindly contact me on WhatApp for more details on the investment plan : o7o338 817 10.

Koval12:

What sort of business please?

rent a filling station buy produce and sell,just b focus in a mata of months u will testify

Use it for Australian study visa ASAP. You'd triple it in less than 2 years.

MrFuckallday:
Use it for Australian study visa ASAP. You'd triple it in less than 2 years.

How can I go about this