What Valuable Item Can 1 Million Naira Really Buy In Nigeria? - Business - Nairaland
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| What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by ogbiwa: 11:03am On Mar 30, 2023 |
I've just been thinking and I realised that with 1 million naira, you can't: - buy a house - buy a decent car - buy a decent landed property - construct a proper building foundation - setup a decent business - self-fund a proper business idea from zero - etc So I realised there are actually Nigerian "millionaires" who can't afford most of the things I listed above (technically, anyone with atleast 1 million Naira is a millionaire, by definition) So does this mean some of our millionaires here, compared to their counterparts in other countries, are actually considered broke? Is there something of real value you know can be bought with 1 million Naira that I may have missed? Let me know in the comments. Ogbiwa 82 Likes 3 Shares
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| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by ArchiLimited: 11:04am On Mar 30, 2023 |
Sadly, it can't even buy family flight ticket. Sigh Cc: Buhari, Emefiele 179 Likes 11 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by sulakishop(m): 11:04am On Mar 30, 2023 |
Bitcoin to sell later 14 Likes 5 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by endsarrrs(f): 11:05am On Mar 30, 2023 |
Food any kind 20 Likes 2 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by olisaEze(m): 11:06am On Mar 30, 2023 |
It can at least afford 20secs of dorimé for you!  114 Likes 10 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Wodu89: 11:11am On Mar 30, 2023 |
It can be invested into a business to make good returns Give me 1M, I'll give you 1M on it after ten months. I'll use it across two farming seasons or one. I'll use it for my maize or cassava mechanized farming 91 Likes 6 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by inoki247: 11:12am On Mar 30, 2023 |
He go buy you 1000 British Pounds  We dey always pray Abt millions he reach out turn we start to dey earn that same Million he come turn Valueless u no fit even use am buy Land for inside GRA buh jus a plot of land in one local bush... Imagine having 20m nd u still dey the category of a poor man d money no fit buy u land for GRA talkless of building nor a good car wey no be Tokunbo wey panel beater don beat him life.... 78 Likes 2 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by CodeTemplar: 11:14am On Mar 30, 2023 |
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. 67 Likes 4 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by JasonScoolari: 11:41am On Mar 30, 2023 |
Save that money, fuel go soon reach 570/ltr 64 Likes 7 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by merits(m): 8:32pm On Apr 06, 2023 |
ogbiwa: 1 Like |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Jerrydox(m): 8:33pm On Apr 06, 2023 |
H |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by FalseProphet1(m): 8:33pm On Apr 06, 2023 |
It can get you good designer clothes, shoes and perfume. So you will at least look good. This I have seen. 65 Likes 3 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Oboto700(m): 8:33pm On Apr 06, 2023 |
Some people no just fit think again . internet don make people dull 30 Likes 4 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by theophorus(m): 8:33pm On Apr 06, 2023 |
1M will do a proper foundation of a 2 Bedroom and for someone like me who prefer vegetation and landscaping to big buildings, I think 1M will do for Foundation. If I have 1hectare, I will use less than half of a plot for building and it must be a bungalow. 31 Likes 3 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by flexyrule(m): 8:33pm On Apr 06, 2023 |
Website - 30k Ecommerce training - 150k Payment for Facebook ads for 1 week - 20k Initial capital for business - 500k (might not even be necessary as you can get items on credit) Laptop - 100k Logistics and others - 50k Pocket money while waiting for business to pick up - 50k That 1m can turn into 3m by December. Please nobody should quote me and say rubbish ooo. And please take note: This is not a business advisory and anyone who asks me for further details, I won't give it out for free. Most of the guys who learnt Ecommerce for free abandoned it after a week of either dull sales, cancelled orders or Facebook ban. No time for people who want to make money without putting in the work. 46 Likes 9 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by iTommysco: 8:33pm On Apr 06, 2023 |
Thinking |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by YoungLionken(m): 8:33pm On Apr 06, 2023 |
Go down to deep villages, acquire landed properties... 22 Likes 1 Share |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by olisefom: 8:33pm On Apr 06, 2023 |
Something tangible. A cow. Smiles. 5 Likes 2 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by morikee: 8:34pm On Apr 06, 2023 |
1m is nothing now 4 Likes |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by amigo1088: 8:34pm On Apr 06, 2023 |
Come to the north and set up a decent business, buy land, or buy a landed property 13 Likes 3 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by humberjade: 8:34pm On Apr 06, 2023 |
There is hardly anything of value you can buy with 1m now, but you can buy a plot of land around Lagos outskirt or Ogun State if you are in the West. Forget about it for sometime, and watch the value rise. But make sure it is situated around a place with potential for development in the nearest future. And visit the place and cut the grass from time to time, fence it if possible, just make sure you have something going on there. 27 Likes 2 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Hezzyluv: 8:35pm On Apr 06, 2023 |
Only iPhone 5 Likes |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by GoodBoi1(m): 8:35pm On Apr 06, 2023 |
Land, crypto 2 Likes |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by ExtremeDot: 8:36pm On Apr 06, 2023 |
Good and quality food for a period of time. 3 Likes |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Sirchiboy: 8:36pm On Apr 06, 2023 |
ogbiwa:. Send me the 1m on Monday and on tuesday morning. I will send you 2m immediately. I have one sure 3 odd from mayor of ekiti. 38 Likes 3 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by TemitayoMark: 8:36pm On Apr 06, 2023 |
ogbiwa: Give me one million and watch me multiply it within months because you need to be informed to know how to spend your one million effectively and efficiently. Go and buy cocoa farm and nurture it. Come and thank me later 18 Likes 3 Shares |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by DenreleDave(m): 8:36pm On Apr 06, 2023 |
| One million will buy you a land in ogun state, ikorodu and co 15 Likes 1 Share |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by motionarena: 8:36pm On Apr 06, 2023 |
ogbiwa:s |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by uncleck: 8:36pm On Apr 06, 2023 |
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 58 Likes 1 Share |
| Re: What Valuable Item Can 1 Million Naira Really Buy In Nigeria? by Cadexa: 8:36pm On Apr 06, 2023 |
The value of naira is nothing to write home about 12 Likes |
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