"I Don't Know What to Do with It": Nigerian Man with N1.5 Million Cash Begs for Business Idea
- A Nigerian man has reached out to smart netizens on the X app seeking financial guidance on how to make it big
- The young man is looking for a potential business venture to invest the N1.5 million he saved so far
- In a brief chat with Legit.ng, a businessman, Chukwu Obinna, advised that he starts a shoe business
A Nigerian man got lots of comments from netizens after announcing his search for a great business venture.
With N1.5 million at his disposal, he was keen on making a smart investment that would yield good income.
Source: Getty Images
Man asks netizens for guidance on wise investment to do
Aware of the value of hard-earned money, he sought assistance through a man identified as @jon_d_doe on X in finding the right business opportunity to avoid squandering his funds.
PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed!
He wrote;
“Good morning High chief, I am sorry for breaking No DM rules. Please sir, I need your followers advice on this sir. I have N1.5M I wanted to invest but I don't know the kind of investment I can do that will yield good income and I don't want squander the money because money is not easy to get this day. Kindly assist to put this out. Thanks.”
Speaking to Legit.ng, a businessman Chukwu Obinna, advised that he start a shoe business.
In his words:
"I think starting a shoe business will perfectly suffice. People tend to look down on the business but it is really lucrative and not extremely saturated," he said.
Netizens unite to provide business ideas
The anonymous man's request did not go unnoticed as netizens rallied to offer their suggestions in the comment section.
Read also
"2 weeks and I never see customer": Lady who opened make-up studio cries over low patronage
Many share their knowledge and experiences, providing a diverse range of business ideas that could potentially help the young man make a sound investment.
From retail ventures to service-based industries, the suggestions flowed in, showcasing the collective wisdom and willingness to support one another.
@seundavidpaul said:
“First lock the money down in your account for a short term to yield interest. Secondly, study your immediate environment to know the needs the people are lacking or scarce. Once you discover it/them, devise how to proffer solutions to that by making such available or more available to them. Make your business is very customer friendly.
"Make sure the prices for the goods/services you are about to offer have little or no difference from other places. Finally, don't expect much profit for some time, keep going and networking, there will be a great difference after later.”
@Jussblaze9 said:
“As at early November a bag of saesem seed was 65k. Now it is 130k. You would have doubled that cash. Palm oil season is coming. Buy store & sell later, u will make about 70% gain. Then buy gnut & continue the circle, you go blow in few years. This is just a tip of the iceberg.”
@A_usti said:
“Lease land. Learn an Agric skill. Do your research. I suggest cash crops. Start small. Thank me later.”
@Emmanuel said:
“If you want a daily income business that you can do from any location, then learn the digital skill OTC TRADING. It's a low risk but rewarding business model that you grasp in a very short period of time. If you want medium-long term investments, invest in Nigeria stock market.”
@Keymanh_ reacted:
“Use am buy fuel at the current price. Drive into a very thick Bush. Build a shade and house it there. That money will triple before March 2024.”
@arike_jane said:
“There are lucrative businesses you can do and yield profit. Business like palm oil, Grain storage, Drinks business. If you have a land you are not using you can build small place,and go into pig farming the business is very lucrative talking from experience.”
@gudiloba_eso commented:
“You can put aside 500k and buy some Nigeria stocks, and you get some interesting ROl at the end of the year with your capital intact. Scan your environment and look for services needed but it's not available or scarce, do your research and invest the 1m don't expect instant ROI.”
See the post below:
19-year-old lady becomes a millionaire
Meanwhile, Legit.ng previously reported that only a few people will dispute the fact that becoming a millionaire at the age of 19 is an achievement.
A young Nigerian has declared herself a millionaire - and she is 19. Goodness Somtochukwu Odiaka has narrated an inspirational story of how she rose to become a millionaire at an age many people are still twirling around their parents.
Goodness however said the journey was not easy, just that she refused to give up on her dream of having more money than she would need.
PAY ATTENTION: Donate to Legit Charity on Patreon. Your support matters!
Source: Legit.ng
