My friend in bussiness has a capital base of 50 m and earns around 8m annually but he think he not rich ...we argued over this why I think he a rich guy ,he think he is just ok ...how do we define a millionaire in nigeria

For a contented person, he is rich. But for an Ojukokoro (which some mistaken for being ambitious) he considers himself poor.

My broda in dis current Buharia economy, if U can confidently boast of 500k in ur account at any time U are rich

U and ur friend are dense... whatever he thinks he his (rich or poor) how does it concern anyone?
50m ko 30billion ni

Nbote:
My broda in dis current Buharia economy, if U can confidently boast of 500k in ur account at any time U are rich

I agree with you sir. The term rich is relative

HE is a very poor man in fact he should start crying

Mr o. P is it your friend or you yourself?

Well, I do not consider that as being rich. 50 million is not as big as it sounds anymore.

ahiboilandgas:
My friend in bussiness has a capital base of 50 m and earns around 8m annually but he think he not rich ...we argued over this why I think he a rich guy ,he think he is just ok ...how do we define a millionaire in nigeria

Warren buffet says
If you can count your money you don't really have much of it .

lagostaxiguy:
Well, I do not consider that as being rich. 50 million is not as big as it sounds anymore.

That's rich o, bro. You will agree with me if you knew the number of Nigerians who cannot boast a net worth of N1 million.

It depends on what he is trying to build, alot of people replying under this post are assuming every person should have a scarcity mentality. Fine, his business has a base capital of almost 140k dollars and is making 22k dollars yearly but he is a business man and no business man loves to be stagnant they love growth, especially when they want to build bigger things. To build bigger ideas you need more money, so 140k dollars might be rich to you but not to him. It's good to desire growth always it has nothing to do with greed like somebody commented above. The scarcity mentality is why if by hardwork and everything his business starts making lets say 1million dollars yearly, his friends and family will want to kill him for free money because they think he now has unlimited cash to his name, so they will constantly beg and beg and want to kill you with demands.

Op congrats on making 50m. However you are still living in poverty based on your mentality.

Firstcitizen:
Op congrats on making 50m. However you are still living in poverty based on your mentality.

Why do you say so