Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,362 members, 7,812,032 topics. Date: Monday, 29 April 2024 at 06:42 AM

What Valuable Item Can 1 Million Naira Really Buy In Nigeria? - Business (6) - Nairaland

Nairaland Forum / Nairaland / General / Business / What Valuable Item Can 1 Million Naira Really Buy In Nigeria? (45688 Views)

Can 1.5 Million start up a phone accessories business / Is Naira Really Appreciating Against Dollar Or Just Market Manipulation? / This Simple Item Can Be Manufactured In Nigeria, Why Una Dey Import Am? (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (11) (Reply) (Go Down)

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by harmony75: 11:39pm On Apr 06, 2023
Land in some part of Lagos!

1 Like

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Smartwave: 11:39pm On Apr 06, 2023
amigo1088:
Come to the north and set up a decent business, buy land, or buy a landed property
Why North?? What is wrong investing it at Southeast, our new paradise

2 Likes 1 Share

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Kworrecttv1: 12:01am On Apr 07, 2023
In nigeria.
Frezhkid10:

Am sure you don’t earn that in Nigeria…
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by nedekid: 12:06am On Apr 07, 2023
humberjade:


How can you say Ogijo is not outskirt of Lagos.

Can you please shed more like on this "Before that area will develop, the seller would have reclaimed the land from the buyer".
What I meant is that area is to the extreme. Seems to Pass the stage of being called outskirts.
As per the second paragraph, it seems to be unsafe to prospect land on the extreme outskirts in the hope over time it will be valuable for use. The recent trend is that those lands usually end up in dispute as the locals end up reselling the land to other parties once the areas starts to appreciate.

2 Likes

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by seanwilliam(m): 12:06am On Apr 07, 2023
bonnyhope:


And you think only those living in GRA are rich.

Must everyone buy land or live in GRA?
some of you love to twist post to suit your narrative. You deeply understand what he meant but you’re being mischievous

2 Likes

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by liquidmetall: 12:06am On Apr 07, 2023
YoungLionken:


You see, this is one of the problems I have with the Igbos. Where in Nigeria (whether west, south or north) deepest village, would a plot of land cost that much undecided??

I think the Igbo elders should sit and address this money-money syndrome, that is rampant in the east...

Have you been to anambra before

You have problem with the igbo's??

Please who the hell are you ?
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by k00lxpert(m): 12:11am On Apr 07, 2023
You can re-invest in a joint venture building contract and let’s make more money

1 Like

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Shnew: 12:21am On Apr 07, 2023
I love this idea and it a very good one. A mini grinding processing plant. as I’m thinking about it now, when my money is up to certain amount I’ll give this a try I’ve a good feeling. Cause garri na part of life.



This can set up a mini grain grinding or cassava-to-garri processing plant.

With one diesel engine, two gratters and one haudralic pump.

If you re lucky, to get a sensible operator, this can generate a profit of at least 4k a a day, when sited well.


"All things being equal"[/quote]

4 Likes 2 Shares

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by seanwilliam(m): 12:22am On Apr 07, 2023
inoki247:



I don't need to be worth 20m before I know is not money before we use to Pray for Millions we hit the millions finally he no meet up wetin we plan..


What I'm trying to say now with the present Nigeria situation 20m can't really take care of things for someone you can spend 20m and still no show for your body shey na house u wan build ni or buy car unless say na accidented car or Low Budget new car then you can still av some money left..

Most of them understand your post and the point you’re driving at, they’re just twisting it so we go know say they too sabi talk.




1m, though hard to find , but it’s cheap to spend these days.

5 Likes 1 Share

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by amigo1088: 12:29am On Apr 07, 2023
Smartwave:
Why North?? What is wrong investing it at Southeast, our new paradise

Because it's more cost effective to start a business in the north that southeast, also I am just giving my opinion.


you can tell the OP to go to east and start a business with 1M

1 Like

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by YaQsGaYa(m): 12:33am On Apr 07, 2023
Woman o
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by 2paid2Bmad: 1:01am On Apr 07, 2023
77up:
Honestly, that's the truth and it's very sad.


If he can think properly, that 1m can get him plots of land if not even acre in a surbub area (I'm into Real Estate so I know this very well) which can in no distance time turn to a massive profit .

1m can get some good Nigeria used car , you can achieve building foundation though that's depends on your kind of building anyway. Even with our dying economy here, you can do a whole lot with 1m , just sit down and think.

You’re a dvmb broke man, I’m not sure you’ve seen a million in cash…sh*ts practically useless, there’s no land anywhere habitable that’ll go for 1M, abi na sambisa you dey call your real estate??

4 Likes 2 Shares

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Faposky95: 1:22am On Apr 07, 2023
Cadexa:
The value of naira is nothing to write home about

Why Za Cow....why...!!!!!!!
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by lendahand(m): 2:00am On Apr 07, 2023
Pipefitter:


A plot of land in the deepest part of my village in Anambra is nothing less than 10m. I am from Ichida in Anambra
lie with caution oga...

3 Likes 2 Shares

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by lendahand(m): 2:10am On Apr 07, 2023
Pojomojo:
In some part in Lekki, you are poor. A 4 bedroom modern duplex is going for 150m excluding agency fees
I have one for 97m now

3 Likes

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by jimcaddy(m): 3:14am On Apr 07, 2023
You can buy half plot of land for that amount, so what are we talking about. It's because we have used our own hands to devalue our Naira, that's why things are this way. Go to other African countries and find out how much they earn as minimum wage, then you will know that Nigeria is indeed a sick country.

5 Likes 2 Shares

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by coputa(m): 3:27am On Apr 07, 2023
uncleck:
Those days, making a million naira was a feat that most people could only dream of all their lives. Having a million naira meant that you're actually wealthy.

Nowadays, a million naira cannot pay some people's house rent. It cannot buy some high end mobile phones. It cannot buy a 20 years old Toyota Corolla. It cannot buy a 17 years old Honda Civic.

1 million naira cannot start a good provision store. It can no longer rent and finish a good selfcon apartment. Naira is now very useless

It cannot take care of any building segment such as tiling, wiring, roofing, etc
Stop deceiving yourself and others.one million naira can build a self contain in a remote location.

2 Likes

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by belcom10(m): 4:44am On Apr 07, 2023
That's why you see them going into crime. To meet up.

YoungLionken:


You see, this is one of the problems I have with the Igbos. Where in Nigeria (whether west, south or north) deepest village, would a plot of land cost that much undecided??

I think the Igbo elders should sit and address this money-money syndrome, that is rampant in the east...

5 Likes 2 Shares

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Herdamorlar: 4:56am On Apr 07, 2023
At least you can start family with 1million. Marry cheap wife for 300k, rent house 300k, feeding 200k, save 200k for wife delivery hospital bills

3 Likes

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Unrated900(m): 5:36am On Apr 07, 2023
Honda baby boy
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by 77up(m): 5:40am On Apr 07, 2023
2paid2Bmad:


You’re a dvmb broke man, I’m not sure you’ve seen a million in cash…sh*ts practically useless, there’s no land anywhere habitable that’ll go for 1M, abi na sambisa you dey call your real estate??
When you see people rushing to insult people like this, just know they are either one reckless over fed kid or senseless old man.

Even as I'm talking to you now, part of the location selling now in my company are spread across Oyo, Ogbomoso,Osun and Kwara and trust me , you will even get change from 1m with 1acre at some of these location, all you need is leave it for some time to appreciate and cash out later. I have where you can start building now that you can get 2plots with that 1m in Osun.

When I said you can get plots of land or even acre in a surbub area, I know what I mean and intelligent people already understood not some numbskull like you, now get lost fool.

9 Likes 2 Shares

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by DaddyCash: 5:42am On Apr 07, 2023
Start a POS business with it. It's less risky.

2 Likes

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by RockyEyo(m): 5:44am On Apr 07, 2023
Lannyjoe4u:
Send the 1m and I'll use 100k to !nvest. Getting 10k/day

Talk to me
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by RockyEyo(m): 5:47am On Apr 07, 2023
YoungLionken:


You see, this is one of the problems I have with the Igbos. Where in Nigeria (whether west, south or north) deepest village, would a plot of land cost that much undecided??

I think the Igbo elders should sit and address this money-money syndrome, that is rampant in the east...

Try to travel a little; some people’s deepest village be like Ikeja in Lagos....

2 Likes

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Pipefitter: 6:03am On Apr 07, 2023
lendahand:
lie with caution oga...

It's not a lie bro.. I have no reason to lie... I just got the attached pic off the net, apparently I undervalued it. The people that own vast land in my place are not willing to sell

3 Likes 1 Share

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Lannyjoe4u: 6:11am On Apr 07, 2023
RockyEyo:


Talk to me


My mail is opened boss
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by humberjade: 6:13am On Apr 07, 2023
nedekid:

What I meant is that area is to the extreme. Seems to Pass the stage of being called outskirts.
As per the second paragraph, it seems to be unsafe to prospect land on the extreme outskirts in the hope over time it will be valuable for use. The recent trend is that those lands usually end up in dispute as the locals end up reselling the land to other parties once the areas starts to appreciate.

Well, you made solid points. Just like I mentioned, lawyer up while buying it, they know authentic documents to possess to safeguard it. And again, if you keep visiting the place to put something on it from time to time, it will be difficult for the locals to do anything funny. Grease necessary palms too, like the Baale or the community leader. Buy him some assorted wines and give him small cash at intervals.

In all of these, some of the moves I mentioned might not be necessary if you study the environment well. You can even go to the barracks or police station, grease some palms, and they could follow you there like twice too, and then erect a sign board with the inscription "military zone, land not for sale, keep off". grin These measures are far reaching depending on the potential of the land.

Note that every thing, every investment in Nigeria is a risk. Even if you buy liquids with the money, there is no guarantee you won't lose it one way or the other. The naija money markets are not stable, even foreign exchange is a big risk, and crypto, that's even worse, it can make you a millionaire before you go to bed, and a pauper by the time you wake up.

8 Likes 1 Share

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Samademir: 6:16am On Apr 07, 2023
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Sirchiboy: 6:22am On Apr 07, 2023
Kworrecttv1:
And the 1m is what I earn every 2 weeks.
This life no balance. Some have food but can not eat, some can eat but have no food but I have food and I can eat glory be to God most high.
.
What do you do for a living?
Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Jeezuzpick(m): 6:26am On Apr 07, 2023
CodeTemplar:
Like you said little or nothing that is a significant capital.

Investment is the main option and only saturated businesses like hairdressing saloon, cafe, copy centre, grocery store, gaming centre, cafteria etc can be comfortably set up with N1m.
Agric is another profitable business it can do a lot for and where demand is almost always high.

Snacks business will blow with ₦1m.

Fish pond. If you have access to land.

Anything food will do well on initial capital of ₦1m

1 Like

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by dangoteinlaw: 6:33am On Apr 07, 2023
Wodu89:
It can be invested into a business to make good returns
what business, unless that business don’t require a physical location.

1 Like

Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Cadexa: 6:36am On Apr 07, 2023
inoki247:


Lol even if you decide to build your house In the Bush in this present Nigeria situation you can't build a house with 20m to your taste and av anything left so automatically you become a chronic poor man again....

What I'm trying to say is 20m no fit remove your problem until you earn it sha u go know...

exactly. It doesn't stop there.

(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (11) (Reply)

Igho Sanomi Forfeits Private Jet, 3 London Homes To Swiss Bank Over $3m Debt / FG To Earn N2.5b Daily From N50 Bank Charge / Dangote Refinery: Roaring To Life On The Lagos Blue Sky

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 68
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.