How to protect your SME from inflation

Adetunji Matthew
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How to protect your SME from inflation

Prices of goods and services have risen across the nation, and this is the same around the globe. Small and medium-scale business owners are feeling much of the scourge, and Many have been forced to downsize or go down the drain.

This year most especially, has become a tough one for Nigerian, and other African countries. The inflation rate is at its highest peak and there’s no sign of it abating soon.

Businesses are on the verge of collapse, while business owners are racing again time to stay afloat.

It’s a tough reality for many because the signs are everywhere.

But the truth is that inflation is common to all businesses. Be it a small and medium scale business or a large corporation. In reality, everyone grapples with it.

The presence of inflation has influenced the operation, planning, and pricing of organizations for decades and in recent times.

And so, while the high and inflated cost of things has spelt doom for many, especially those SMEs, there is a way to protect yourself and your business from its scourging effect.

The good news is that with the right approach, methods, and decisions, inflation can be managed and even mastered, and this is what this article promises.

This article gives true and time-tested ways businesses can manage and master inflation, and have an undue advantage over other businesses.

What is inflation?

Inflation generally refers to the rate at which the prices of goods and services rise due to bad economic factors and governmental policies.

The rise of goods or services in a sector of an economy can cause a ripple effect on the other sectors, and when this happens, it’s said that inflation has set it.

In Nigeria, two main factors that have caused so much inflation within a short time are the fall of the Naira against the dollar. Also, the removal of fuel subsidies from fuel consumption.

These two factors cause a ripple effect on everything ranging from basic commodities to the cost of goods and services.

And by the basic law of economics, inflation will always affect the chains of production, laying off of workers, and downsizing the organization. On the consumer side, it led to low demand for goods and services, especially luxury goods. 

This means sales will be less and the profit will be reduced, while the running cost for organizations increases.

This of course has spelt doom for several, especially the SMEs.

Let’s take a good look at what constitutes small and medium-scale enterprises.

Also Read: How to beat inflation

Is your business a small and medium-scale enterprise?

Small and medium-scale enterprises make up the majority of businesses around the globe. They are independent organizations or firms with less than 50 employees.

However, the maximum number of ranges for SMEs differs around the world. For example, the UK defined small and medium-scale enterprises as those with 500 employees or less.

In Nigeria, the Small and Medium Industries Enterprises Investment Scheme (SMIEIS) defines small and medium-scale enterprises as any firm or orga

with a maximum asset of two hundred million naira, excluding land and working capital, with at least 10 or more than three hundred staff.

Now you have a grasp of what an SME is all about.

How does inflation affect SMEs?

With rising inflation, every element that constitutes your small and medium-scale enterprise becomes affected. Businesses begin to feel the effects of the procurement of raw materials, the cost of lighting, and so on.

Again, because we live in a world that has to do with the survival of the fittest, incorporating these high costs in your business, seeking to maintain quality and deciding to increase the cost of goods or services becomes very challenging.

Inflation affects every facet of the business. employees may look for their so-called secured Jobs during inflation, while others may demand an increase in wages and salaries. 

Also Read: 10 Most economically friendly cities In Nigeria

Causes of inflation 

Inflation is an effect of a cause. The cause of inflation ranges from several economic factors, and political factors and also can be caused by war, drought, and other natural consequences.

For example in Nigeria, the cause of inflation is the depreciation of the Naira. Since Nigeria is an import-dependent nation, it relies so much on the dollar. This has led to an increase in the dollar, ultimately causing increases in goods and services.

Another pivotal cause is the removal of fuel subsidies. And since the price of petrol has a direct effect on the cost of goods and services, the high became one of the major causes of inflation in Nigeria.

The ongoing war in Ukraine has also caused the price of wheat to increase. This has a direct effect on the cost of bread and pastries.

Also Read: 10 Things that you should never do with your money

4 ways to protect your business from inflation 

1. Reduce any fixed costs that are not indispensable to business

Inflation is a good opportunity to reevaluate running costs and reduce any costs of running the business that is not critical.

Determine whether your subscription, consumables, and other less critical operations are necessary.

This is very important. Having taken the inventory, you may find a huge chunk of cash that can be saved from this evaluation.

While this is important, it is not advisable to downsize the business workforce. These people are the much-needed capital that is needed in getting you to overcome inflation. Don’t do this, unless it’s extremely critical and unavoidable

2. Diversify your supply chain

As inflation ranges, businesses must become prudent in diversifying their supply chain. By this, we mean that businesses should seek different and multiple channels to get their raw materials. Inflation may cause shortages of these materials, as some vendors may be forced to close up. However, having multiple channels will help you to absorb any effect of such eventuality.

Also, having multiple channels of supply will increase your bargaining power, as you will have more leverage to make bargains that are beneficial to the business. Also, this means that there will be no time for the business to experience a shortage of these materials

Also Read: How to profit from the naira depreciation

3. Optimize the whole business operations

During inflation, the first capital you must seek to optimize is the staff. Redirect their role, split the group if necessary, remove any bureaucracy within the leadership and let things run as swiftly and fast as they could. 

You must seek to manage the people so that their input produces more than usual. 

Cut any time spent on frivolities, and seek new ways and technologies to speed up processes.  Cut any non-essential trips and retreats, AMD lets the whole team work and strategies more to beat the recession

4. Make the price adjustment

Inflation comes with rising costs of businesses and supply. And one of the effects on your business must be the increase in the price of your goods and services. However, you must be prudent in this regard. It’s noteworthy to state that during inflation, consumers are shocked, they spend less and often seek alternatives.

To beat the businesses, you must increase your prices as slowly as possible, while you do everything to still retain your customers

Also Read: 10 Cheapest businesses to start in Nigeria

Conclusion

Managing inflation is critical to business survival. During inflation, you must move quickly to allow for the necessary changes that must be made in the interest of the business. 

Organizational agility is very important in this regard. As stated earlier, downsizing the workforce may not be in the interest of the business in the long run. It must be done only as the last resort.

10 Most economically friendly cities in Ghana

Adetunji Matthew
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0
10 Most economically friendly cities in Ghana

Ghana is a West African country that is rich in history and culture. Many people have always dreamt of relocating to Ghana. Just like every other country, Ghana is also experiencing certain economic harsh realities that affect the citizens.

Everyone wants to live within the confines of their budget. This can only be possible if you are living in a place that allows you. So if you’re looking for a place that can help you live within your budget, and at the same time get some of the benefits of big and expensive cities in Ghana, then this list is for you.

This article explains the most economically friendly cities in Ghana.

Most economically friendly cities in Ghana

1. Techiman 

Techiman is in the region of Brong-Ahafo and it is one of the biggest cities in Ghana. One would expect that because of this the standard of living would be high but contrary to this, it is quite low. The cost of food and accommodation is relatively low.

One could get the most affordable of things in its markets. It also has basic social amenities. So if you’re looking for a place with a low cost of living, then Techiman is your best choice.

Also Read: 10 Most economically friendly cities In Nigeria

2. Sunyani

Another city in the Brong-Ahafo region, this city is well-developed and provides access to basic social amenities. It also has recreational facilities that would provide fun for the city dwellers.

Sunyani is one of the most economical cities in Ghana as it provides very affordable cost of accommodation. In addition to its serene environment, it also has a very affordable standard of living.

3. Bolgatanga

If you are looking for a Ghanain city that has a mixture of affordable transportation, low-cost accommodation, and cheap prices of food, then Bolgatanga is your best choice.

This city is known for its bustling markets, rich history, and culture and this has drawn the attention of travelers who are tight on a budget.

Also Read: 10 Best universities in the USA for Nigerian students

4. Ho

Ho is the capital of the Volta region and the cost of living here is relatively low compared to other cities in Ghana. It is also one of the most affordable Ghanaian cities.

This makes it the best choice for those who are seeking to relocate to a place that provides affordability for their budget. For those who want to live life at a slow pace, Ho is your best alternative. This makes it one of the most economic cities in Ghana.

5. Koforidua 

Many people believe that Koforidua is the most welcoming state in Ghana. This is because it provides the most affordable kind of life for anyone irrespective of your kind of budget.

Residents of this city enjoy basic infrastructural development as well as a relatively low cost of housing. The cost of transportation is quite low too.

Also Read: 10 Best English speaking countries for studies

6. Tamale

Tamale is in the northern region of Ghana. It is one of the biggest cities in the country and is known for its rich cultural heritage and history. Tamale is well known for its cultural diversity as several tribes, ethnic groups, and races all live together in peace.

Tamale is a place that provides you with the ability to live within your budget, provides essential public services, and a friendly environment. When considering the city in Ghana to visit or permanently relocate to, make sure to keep Temple in mind as it is one of the most economic cities in Ghana.

7. Nkawkaw

If you are the type that is seeking an affordable lifestyle without sacrificing the quality of life they want to live, the Nkawkaw is the best place for you. You also get to enjoy the serene environment of the city. 

Nkawkaw also has a very low cost of accommodation, cheap price of food, and affordable transportation.

One of the reasons people and families tend to move to this city is the fact that it provides the basic amenities and is one of the most affordable cities in the country.

8. Takoradi

Takoradi is a port city in the western region of Ghana. It is a city that provides employment and economic opportunities to people.

Although the cost of living here is slightly high, it also provides the people of the city with a high quality of life at an affordable price. One that makes it a point of call is the fact that it has a friendly climate and recreational facilities for fun lovers.

Also Read: List of countries needing foreign talents in the tech sector

9. Nsawan

This city located in the eastern part of the country is a great destination for those who are trying to live far from the daily haggle and struggle of a larger metropolitan city. This is because it is not as big as other cities. 

It is also a great place for those with a heart for agriculture as it is a great agricultural hub in Ghana. 

It has a very low cost of living and it provides individuals and families the essential social amenities and very affordable accommodation.

This is why Nsawan is one of the most economic cities in Ghana.

10. Cape Coast

This is one of the most beautiful cities in Ghana that provides an affordable cost of living. Do you like to visit historic sites? Do you like to go to the beach to enjoy yourself with friends and family?

If yes then Cape Coast will be the best place for you to reside because it has beautiful historic sites and beaches. It also has a high cost of cultural heritage. This, in addition to the sites and beaches, has attracted tourists and people who are seeking an affordable standard of living.

It provides essential social amenities, low cost of housing, and affordable prices of food giving its inhabitants a better quality of life.

Also Read: 5 Largest technology companies in Africa (2024)

Conclusion

The economy of Ghana is growing and as a result, its cities are experiencing rapid development in education, electricity, standard of living, and lots more which in turn brings in expatriates. It’s also noteworthy that most Ghanaians are finding it difficult to meet up with the rising cost of living, especially those living in dense and Urban areas. 

While there are the affluent in every society there are also those who just want to live a modest life that they can afford. This article is for such people. For individuals who want to live comfortably within the limits of their budget.

So do some personal research about these cities, and make a good choice for where you can live happily and at the same time live modestly.

The untold truth about investing in forex

Adetunji Matthew
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0
The untold truth about investing in forex

Investing in Forex, like in other types of investments offers great opportunities for wealth creation. And while this may be true, to some this has never been their experience since they started investing in Forex.

The fact remains that about 90 percent of retail traders don’t succeed, more disheartening is that other research has found this statistic to be more up to 95 percent.

So what set those 5 to 10 percent of those traders who have amassed so much money from Forex investment apart?

What do they know that the average traders or investors don’t know? 

And most importantly, what do these exclusive Forex millionaires do that they wouldn’t want to tell you?

This article reveals some of the hidden truths about investing in Forex and why you must know them now if you must join the exclusive 5%

Also Read: Stay Connected and Informed with the Top Forex Trading Apps in Nigeria

What is Forex investment?

As we all know forex is a forex exchange. It is the most liquid market in the world.

The Forex market is a system developed for all people, retailers, and corporate entities to trade currencies in various markets.

For example, if you bet $200 on the dollar to go up, and it does, you make money.

The Forex market is known for its volatility. A good investor or trader must be able to predict the market at every turn so as to make for himself a chunk of money.

This volatility in the market is largely affected by a lot of variables such as news, earthquakes, war, and most importantly the transactions that occur between nations and larger multinational corporations.

But people often ask if there is an “holy Grail” in forex trading, and they can have access to this exclusive info or strategy.

5 untold truth about investing in Forex

1. You don’t have to be exceptionally intelligent to trade the market 

I know this might sound too real. But this is the plain truth.

Perhaps, one of the misconceptions about those 5% of traders who are professionals is that they went to some of the best schools in the world, or they are some sort of smart whiz in the world  with some supernatural abilities to read and predict the market. This has never been the case.

In fact, many successful traders never even went to school, nor are they some mathematics wizards.

The truth is that being a successful trader needs skills that are not taught in schools.

So you don’t need a degree to be a successful trader nor do you need to understand mathematics. All you need is good self-discipline and emotional intelligence.

Also Read: 5 Ways To Earn Money With Ethereum

2. The successful traders lose too

There is no Forex trader who does not lose. But there is a difference between when an amateur loses, and when a pro trader loses.

And the difference is simply their mindset.

While those amateurs have been taught that losing is a bad thing, the pro trader has the mindset that loss is just feedback.

The truth remains that the market is always neutral. So when you lose, it’s you that didn’t get it right. All you need do is re-evaluate your trade, see what was wrong, learn from it, and move on.

Remember that every pro trader was once an amateur.

3. Successful forex trading is mostly very boring and monotonous

You may never hear from those successful and pro traders that consistently profitable trading is often boring. You might just assume that it’s fun-filled, especially when they begin to flash that money and all the sports cars around. That is far from the case.

For the pro trader, it’s all about laser focus, strict self-discipline, patience, and having a trading plan or edge.

A pro trader is not surprised at the turns of events, whether win or loss, because they have made every necessary plan.

Also Read: How to invest in cryptocurrency

4. Professional traders don’t focus on win or loss

Most trading sites these days are always keen to post their strategies that promise 95 percent returns.

This is because most people think that a successful trader has everything to do with the win and the loss.

For the pro trader, it’s all about maximizing the amount of money made on a win and minimizing the amount of money lost on a loss.

This is true because the man who broke the Bank of England once said that it is not about being right or wrong, but it has everything to do with how much money you rake in when you’re right, and how much money you lose when you are wrong.

5. You don’t need bots or multiple trading screens to be a successful trader.

Most trading platforms won’t tell you this.

They want you to believe that the reason you are not getting ahead in the game is because you are not buying enough trading software or you don’t have enough screen to read the spreadsheets.

The truth is that you can trade successfully from your laptop and get a free trading platform like metatrader4.

The most important factor in your trading is you. I mean your mind and ability to discipline all its faculties. You don’t need the multiple trading screen heist.

If you can conquer your mind, and tame your emotions, and those erratic behaviour that are causing you loss, then you will be more than eighty percent closer to making consistent profits.

If you combine this mental ability with a good knowledge of price action, then you are on your way to becoming a successful trader.

Also Read: NFTs: What is it? Everything you need to know

Conclusion

Trading the Forex is not a quick money-making scheme as many suppose or have been made to believe.

You need to be able to master yourself and have an edge that is back-tested before you can see yourself making some return.

While it’s true that you can make a huge fortune from Forex, like the George Soros of trading, the truth also remains that it takes a long life of practice to achieve what they have done.

Commercial banks vs digital banks: Pros and cons

Adetunji Matthew
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0
Commercial banks vs digital banks: Pros and cons

Gone are the days when you could only do business with a bank by visiting one of its brick-and-mortar branches. Today digital banks have become popular helping their customers to carry out financial activities online anywhere in the world. Choosing between these two banks options may be difficult because each bank has its own feature that makes it stand out.

For example, while traditional commercial banks are popular for their physical presence and long history, digital banks are modern tech-savvy banks that offer ease of use to their customers from anywhere they are. 

To help you make an informed decision, this article compares the pros and cons of traditional commercial banks and digital banks.

Commercial banks pros and cons

Pros of commercial banks

Established physical presence

Traditional commercial banks have physical branches scattered across neighbourhoods, cities, and towns. This physical presence offers their customers a sense of trust and reliability. Whether you need to deposit a cheque, seek financial advice, or discuss a loan, having a local branch provides a tangible connection to your finances. 

Also Read: 10 Greatest money saving tips

Wide range of financial services

Traditional banks provide a full range of financial services. From basic savings and checking accounts to loans, mortgages, and investment opportunities, traditional commercial banks aim to be one-stop shops for all your financial needs. This diversity allows customers to meet various financial needs under one roof. It simplifies the customer’s financial management and eliminates the need to juggle multiple institutions for different services.

Personalized customer service

Another benefit of traditional commercial banks is that they offer personalized customer service. If you are a customer of any bank, you are entitled to have a relationship manager you can always reach out to if you have issues. These banks also have standby customer units that are readily available to help customers solve their complaints.

Trusted and well-regulated

Traditional commercial banks operate within a well-established regulatory framework. This oversight ensures that these financial institutions comply with financial regulations, thereby protecting the interests of both the bank and its customers. Also, the long history of these banks contributes to a perception of stability and trustworthiness. It assures customers that their money is in safe hands.

Also Read: How to manage cash flow in your small business

Cons of commercial banks

Limited accessibility

Physical branches provide a cost advantage, but they have their own limits. Sometimes people with busy schedules or people living in remote places are unable to carry out banking activities such as bank transfers, deposits, etc in the bank’s physical office. This limitation contrasts with the 24-hour accessibility provided by online and digital banking solutions. The bank’s reliance on physical locations may restrict its capacity to reach and service a bigger client base. 

Increased operational costs

Maintaining a network of physical branches can be expensive. Traditional commercial banks have higher operating costs than digital banks because they have to pay for rent, utilities, labour, and security. These costs may be passed on to customers in the form of fees, or they may limit the bank’s capacity to provide competitive deposit and lending rates. 

Also Read: What happens when a bank folds up?

Slower technology adoption. 

Another problem of traditional commercial banks is that they adopt technology slowly. While some have switched to digital banking, many still employ outmoded methods and procedures. Slower adoption may result in less efficient services, longer processing times, and a failure to meet customer expectations. 

Digital banks: pros and cons

Pros of digital banks

Convenient online access

The primary advantage of digital banks is the ease they provide via online platforms. With a few taps on your smartphone or clicks on your computer, you can manage your funds at any time and from anywhere. This accessibility is especially useful for people with busy schedules or who prefer to conduct transactions from the comfort of their own homes.

Lower fees and levies

Digital banks can provide major cost advantages. The lack of physical branches, along with improved operating procedures, results in cheaper overheads. As a consequence, customers often benefit from cheaper fees, fewer service charges, and even fee-free accounts, allowing them to preserve more of their hard-earned money.

Faster and more efficient procedures

Opening an account, moving cash, and executing other transactions with digital banks is quick and easy, with few bureaucratic impediments. The efficiency of digital operations saves time while also increasing overall customer happiness.

Also Read: 6 Ways to improve financial literacy

Innovative technological integration

Mobile applications provide capabilities such as biometric verification, AI-powered financial analytics, and real-time transaction monitoring. These improvements not only make banking more efficient but also provide a degree of ease and sophistication that appeals to the tech-savvy populace.

Cons of digital banks

Limited physical presence

The lack of physical branches may be seen as both advantageous and disadvantageous. While internet accessibility is advantageous, some people prefer the comfort of having a local office to visit. Face-to-face encounters, although not abolished, may become less common, which might be disadvantageous for people who want in-person help.

Potential security risks

The dependence on technology, although handy, poses security concerns. While digital banks make significant investments in cybersecurity, there is always a slight danger of data leaks or hacking. As a client, you must be cautious and implement suggested security procedures.

Lack of customized customer service

Digital banks generally provide client service via online channels such as chat and email. While efficient, technology may lack the personal touch associated with face-to-face contact. Resolving complicated challenges may need more specialized care.

New and less established

While they provide new ideas and current solutions, some customers may be cautious about trusting businesses with a less established reputation. Those who prefer stability may perceive conventional institutions’ long-standing reputation as more safe.

Also Read: World Bank: Purpose, power, functions and history

Conclusion

The decision between conventional commercial banks and digital banks comes down to several benefits and downsides. Traditional banks, with their physical presence, provide a feeling of trust and a variety of financial services. Personalized customer service and a well-regulated environment help to build trust. However, accessibility concerns, greater operational expenses, and slower technology uptake are significant disadvantages.

On the other hand, digital banks excel in convenience, cost-effectiveness, and technological innovation, but worries remain about limited physical presence, security, and a possible lack of individualized care. Understanding the difference between conventional commercial banks and digital banks will help you make an educated selection based on your preferences.

10 Most economically friendly cities In Nigeria

Adetunji Matthew
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0
10 Most economically friendly cities In Nigeria

Nigeria is currently going through unprecedented hardship coupled with high inflation on nearly all basic necessities of life.

Looking at how the country is and the economic realities we are facing, the average Nigerian is only concerned with how he can have access to these necessities of life for himself and his family. Every other thing that is beyond this becomes secondary.

So, if you are a Nigerian who is planning to make the most of your finances and still have enough to take care of your most important needs, it is important that you reside in a place where the economic realities are not as harsh as it is in other countries but if you have places.

To this end, I have compiled a list of the most economically friendly cities in Nigeria. Take your time and read through, make an informed choice, and save every naira that needs to be saved.

This article will give you a succinct and sincere insight on some the most economically friendly cities in the country 

10 most economically friendly cities in Nigeria

1. Ilorin 

Ilorin is the capital of Kwara State, and it is also an economic hub with various companies. It is blessed with eye-popping landscapes and mouth-watering tourist attractions, which are beautiful to behold.

Another reason why you should pick Ilorin is because of the low cost of living. Housing and accommodation in Ilorin are quite budget-friendly.

While there is a hike in fuel price, Ilorin still has a relatively low cost of transportation.

Choosing to live in Ilorin means choosing to live a life of comfort even with your budget.

Also Read: How to become a travel agent

2. Onitsha

Who has not heard of Onitsha and how things are relatively cheap and affordable? Onitsha is home to many of our homemade products, and it is sometimes called the China of Africa. 

If you can ignore the fact that it is usually overcrowded, then you will very much enjoy it.

The price of food and the accommodation is one of the major challenges of the average Nigerian in this economy.

Well, guess what?

They are amazingly very much affordable in Onitsha. And if you are business inclined it is also a great place to start your business. You can buy products from here very cheaply and sell them at a profitable price in your shop.

3. Aba

Like its counterpart, Aba is one of the most economical cities in Nigeria. Aba is home to some of Africa’s cheapest, most affordable, yet quality clothing products.

Have you heard of Okrika before or Bend-down-select, then you probably have heard of Aba. 

Transportation and food costs are very affordable in Aba. This would help you save more and put it into other areas.

If you are interested in business, Aba is a place where you can start and grow a profitable business.

In addition to these is the sense of belonging and community in Aba. All of these make it one of the Most economic cities in Nigeria.

Also Read: Top 10 least racist countries to travel

4. Ile-Ife

If you are familiar with Nigerian history, then the peaceful town of Ile-Ife will not be new to you. Just as it has made a name for itself in the world of history, it has also provided its inhabitants with the best and most affordable way of living.

With enough job opportunities and a great economic atmosphere, Ile-Ife is a place you want to settle down and live a modest life.

It is said to be where transportation is cheap even during this fuel hike, accommodation is very affordable, and food is easily accessible.

5. Ibadan 

Oyo is one of the most popular and most powerful ancient civilizations in africa. Now it is a state in modern day nigeria and its capital is Ibadan.the cocoa merchant city is home to the first sky scrapper in nigeria. 

Ibadan is one of the most economic cities in nigeria because of its lo Because of its low cost of living. 

The cost of accommodation and transportation fare is low and ideal for its inhabitants. 

For those looking to visit and enjoy rich history and culture while maintaining a friendly budget, then Ibadan is the best choice for you.

Also Read: How to pass an American visa interview

6. Owerri

Popularly known as the Eastern Heartland, Owerri is the capital of Imo State and home to exotic sites such as Oguta Lake. The cost of living is relatively low in this Eastern city.

If you are watching out for places with good road networks, low-cost accommodation, cheap and affordable cost of food, and different blends of melodies caressing your eardrums while at the same time sticking to your friendly budget, I would personally tell you that Owerri is your best choice. This is because it combines modern-day and traditional ways of life.

7. Jos

Jos, the capital of Plateau State, is popularly known as J-Town. Some attributes that make it stand out are its rich history and culture, a cool climate, and many places to cool off and have fun. Its natural beauty and affordable cost of living make it a better place to settle down.

8. Kano

Kano City is the capital of Kano State, and it is one of the best places to visit and live in because it has attractive historic sites. Its markets are always busy with local and foreign visitors. It is one of the most economic cities in Nigeria as the prices of goods and accommodation are one of the lowest in the country.

The city is a big producer of agricultural products, clothes, medications, furniture, etc. Despite the fact that it is an industrialized city in Nigeria, it is still very affordable to live in.

9. Abeokuta

The Ogun State capital is less commercialized than other cities, yet it is one of the most Economic cities in Nigeria. It has a low cost of living due to the fact that the cost of accommodation is relatively low, and also has local produce.

Olumo Rock and Centenary Hall all make the city a very attractive place to live.

Also Read: Top 20 countries Nigerians can visit without a Visa

10. Zaria

Zaria is home to Ahmadu Bello University. It is neat, affordable, and homely. 

Zaria is one of the most economical cities in Nigeria because the price of food is quite cheap, and the cost of transportation is affordable. One of the most impressive facts about Zaria is that the city is an academic city. This is because great academic institutions have been established here.

Conclusion

The reality in Nigeria today calls for prudence and wise planning. While others may resort to anger, depression and other vices, it’s important you sit down and reevaluate ways and means to beat the situation.

Finally, it is important that people live in a place where they can easily afford their way of life. 

If you are in a place where the cost of living is on the high side, and your income cannot afford it, then take your time and choose one of these affordable cities to live in.

10 Best universities in the USA for Nigerian students

Adetunji Matthew
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0
10 Best universities in the USA for Nigerian students

The United States is one of the most alluring countries for Nigerian students thinking about studying abroad. There are many benefits to studying in the US, including better quality of education, abundant opportunities when you graduate, and so on. If you want to attend a university in the US, you’ll of course opt for the best one.  

For foreign students, the USA is one of the most sought-after study-abroad locations. According to reports, in 2020, over 900,000 students relocated to the United States to further their education. In addition, more than 12,000 Nigerian overseas students reside in the United States. 

Continue reading if, like many other Nigerian students, you want to relocate to the USA to further your education but are unsure which institution to enrol in. In this article, I will outline the 10 best universities in the US for Nigerian students. 

1. Harvard University

Harvard University is the oldest institution in the United States and is regarded as one of the most prominent universities worldwide, having been founded in 1636, over 300 years ago.  Harvard is renowned for its superior teaching and research, in addition to its rich history.

More than 3,700 courses are available at Harvard for students worldwide. International students account for around 23.0% of all students at Harvard University, with a very low acceptance rate of 3%.

Also Read: 10 Best universities to study law in Nigeria

2. Yale University

Since its founding in 1701, Yale University has been a private research institution in the United States, known for its high standard of instruction. For many, Yale University—one of the esteemed Ivy League Research Universities—is the university of their dreams.

With over 20,000 students, it has an impressive international student body with over 5,000 students from 120 countries worldwide. The most popular subjects Yale University offers include biology, history, political science, and economics.

Recommended: How to apply for a U.S. visa in Nigeria

3. Cornell University

One of the biggest Ivy League universities in the US is Cornell University, which was founded in 1865. It is renowned for offering over 25,000 students the most remarkable education, with around 22% of all students being foreign.

Courses in engineering, management, marketing, and business are among Cornell University’s most popular courses. Cornell University has an impressive 97% freshman retention rate, demonstrating its exceptional ability to retain students.  

Also Read: 10 Best universities to study medicine in Nigeria

4. Nicholls State University

According to Nicholls State University News & World Report College Rankings, for the 2022–2023 academic year, it is in the top fifteen most affordable universities for foreign students.

According to the statistics, just fifteen of the 544 rated universities with at least 25 foreign students enrolled had yearly total expenditures of less than $24,600. So if you’re planning to study in the US on a budget, then Nicholls State University should be at the top of your list. 

5. Eastern New Mexico University 

This public university has two associate degree-granting branches, one in Roswell and one in Ruidoso, in addition to its main campus in Portales, New Mexico.

The most recent state university in New Mexico to be established, ENMU is the state’s biggest regional comprehensive institution. It offers four colleges and a graduate school, with several courses for students to choose from. 

Also Read: 10 Real Ways To Study Abroad

6. Columbia University

Founded in 1754 as King’s College, Columbia University is a private research university in the Ivy League.

The fifth-oldest university in the United States is Columbia University. With more than 30,000 students from the US and other countries, it provides more than 500 courses. 

7. Delta State University 

Among the little Southern communities is Cleveland, Mississippi, home of Delta State University. Cleveland’s robust music scene, friendly locals, and mouthwatering cuisine selections have made it a popular destination.

It’s an even more alluring area to reside in because of its affordability. 

Also Read: 11 Ways you can make money reading books (2024)

8. South Dakota State University

Additionally, for three years running, South Dakota State University‘s campus has been routinely rated as the safest in the state.

The institution is located in the charming little city of Brookings, which is well known for its peaceful atmosphere.

9. New York University

Founded in April 1831, New York University is a private research institution that has been around for 190 years. With more than 50,000 students, New York institution is the biggest private institution in the United States.

There are many different courses available at NYU in over 200 subject areas.  Although NYU is regarded as being very selective due to the volume of applications it gets, it should be emphasized that more than 17,000 foreign students attend the school, representing more than 140 nations.

10. Bemidji State University

Bemidji State University, which is surrounded by Minnesota’s woods and Bemidji Lake, is an ideal destination for people who love the outdoors, particularly those who prefer winter sports.

It supports a wide range of academic interests with 70 Bachelor’s, 8 Master’s, and online learning programs. If you’re thinking about living on campus, the university’s campus is picturesque.

Also Read: 11 Ways you can make money reading books

Conclusion

The United States of America is among the best study-abroad destinations for Nigerian students. Studying in the US opens a world of opportunities, and the standard of education there is unmatched. The cost and low admission rates are often a deterrent, but when you consider the value to be gained, it is worth it.

There are many excellent universities in the United States, but the above are the best for Nigerian students. 

10 Best English speaking countries for studies

Adetunji Matthew
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10 Best English speaking countries for studies

Studying abroad is a rewarding venture and an exciting experience. However, it can be quite challenging getting accustomed to a new environment, especially if you do speak the language. As such it is much better to study in an English-speaking country than a non-English-speaking country. Luckily, many English-speaking countries in the world offer world-class education. If you’re looking for an English-speaking country to study in then keep reading as I’ll highlight the top 10 English-speaking countries to study in this article. 

1. United States of America

The United States is home to the largest English-speaking population in the world. With almost 300 years of history, the nation has a rich culture. The fact that English is the sole official language and the predominant language in the United States (all other languages are regarded as secondary) makes it exceptionally special.

The USA is undoubtedly the most popular location for foreign students. Although tuition might be expensive, the quality of education, the standard of living, and countless opportunities that the US offers more than make up for it. If you’re looking for one of the best English-speaking countries to study in, then the United States should be at the top of your list. 

Also Read: List of countries needing foreign talents in the tech sector

2. United Kingdom

The UK educational system is among the greatest in the world, and it also has a rich past. Numerous British universities rank among the best in the world for both undergraduate and graduate programs.

English originates from Great Britain, so there’s nowhere else English is as widely spoken as the UK. UK universities offer a wide range of programs to choose from, and they offer one of the best quality of education in the world. 

3. Canada

The nation of Canada is multilingual. Although there are several more languages, English and French are the official languages. With a population of about 38 million, it is among the world’s biggest nations. 

Because of its varied topography and four different seasons (winter, spring, summer, and autumn), Canada is a great destination for foreign students. From a student’s standpoint, this nation is quite appealing because of its diverse climate—the scenery varies greatly depending on the season. 

Also Read: 10 Cheapest countries to live in the world

4. Australia 

An excellent study-abroad destination is Australia. Numerous schools exist that provide instruction for students of various skill levels, including those who are novices.

While some institutions may offer more formal learning programs where students may get credit from their home universities, others may concentrate more on discussion sessions. 

5. New Zealand

A laid-back lifestyle and friendly people characterize New Zealand as a pleasant nation. It is also among the most stunning nations on earth.

New Zealand is home to several world-class universities with a variety of programs offered to international students. 

6. Ireland

Ireland is a stunning nation rich in culture and history. If you want to get a personal taste of English language and culture, it’s also an excellent area to reside. Students who would want to study abroad have many options in Ireland since 90% of people speak English.

Despite being an English-speaking nation, Ireland has unique dialects and accents that, while first perplexing for non-native speakers, provide an interesting challenge when attempting to communicate with local Irish people! Furthermore, a few idioms are exclusive to Ireland, which could seem weird to someone from elsewhere in the globe, but it makes studying more interesting and diverse.

Furthermore, it’s not far from the UK, so all you have to do to see the location where the language originated is take a boat or an airplane across the Irish Sea.’

Also Read: Top 10 least racist countries to travel to

7. Singapore

With just 5.6 million residents, Singapore is a tiny nation. Although there are five official languages in the city-state, the majority of Singaporeans speak Mandarin, Tamil, English, and Malay. Among the world’s most ethnically varied nations is this multicultural one. Because everyone speaks English here, you won’t have any problems with the language barrier. 

Because they keep things neat, Singaporeans take great satisfaction in being among the cleanest nations in Asia. This includes their well-maintained public transit, buildings, and streets, all of which are conducive to your comfort. 

8. Malta

North of Libya and south of Italy, on the Mediterranean Sea, is the little Island nation of Malta. Only two major islands make up the archipelago that is Malta: Gozo and the island of Malta. The total population of the nation is just over 450,000.

After being governed by Rome for a while, Malta was taken over by the Arabs in 870 AD and then by Spain four centuries later. Spain ruled Malta until 1530, at which point it joined the British Empire as a protectorate until 1964 when they achieved freedom.

English and Maltese are now official languages in Malta, which is advantageous for students wishing to study in an English-speaking country. 

Also Read: Top 20 countries Nigerians can visit without a Visa

9. South Africa

An excellent location to study abroad is South Africa. The history of the nation began more than 300 years ago with the arrival of Dutch settlers in the region that would eventually become Cape Town. English spread throughout time as a result of British immigrants who arrived in the region in the middle of the 17th century. English is still the mother tongue of a sizable portion of the white (also known as Afrikaner) people in the nation. 

Enrolling at one of the esteemed institutions in South Africa will allow you to benefit from first-rate facilities and an excellent research program. 

10. Philippines 

Because the Philippines is a populous developing nation, English is essential to the educational system. However, there are many opportunities to put your newly acquired language abilities to use in this tropical haven if you’re searching for something more than your standard ESL instruction.

The English-speaking culture of the Philippines reflects the strong Christian identity that the country has. Since Tagalog and Cebuano are widely spoken in the Philippines in addition to English, you may put your newly acquired language abilities to work during church services.

Also Read: 15 Best tax-free countries in the world

Conclusion

Whether you’re a native English speaker who wants to study abroad without worrying about a language barrier, or you want to improve your English by being among native speakers, then studying in an English-speaking country is the best choice for you.

Fortunately, there are a lot of countries that have English as their native or official language, so you have many possibilities to choose from. 

List of countries needing foreign talents in the tech sector

Adetunji Matthew
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0
List of countries needing foreign talents in the tech sector

Relocating abroad can sometimes be daunting, but moving with regards to having a new job overseas can be quite easy and extremely rewarding.

Using your talent and skills to secure a job in a foreign land will offer you a golden opportunity to experience diverse cultures and travel while you maintain your resume.

It will interest you to know that many countries around the globe are experiencing labour shortages in different sectors of their economy. However, the tech sector has always stood out.

A survey from the notable talent marketplace Andela found that about eighty-eight per cent of top tech companies are looking for tech talents in other countries.

This poses a huge opportunity for those needing a foreign job in the tech sector because companies are now racing to close this gap in the tech sector.

However, some countries differ in their need for this talent. While some are on the hunt for these talents, others are based on future predictions. Countries like the Netherlands and Germany offer a much higher rate than others.

About a year ago, a dear friend of mine, together with his wife, relocated from the United Kingdom to Germany for a tech gig, and, as you all know, most of these tech placements include sponsorship from the company.

This article details the countries most in need of foreign tech talents now and how you can take advantage of it.

Also Read: 5 Largest technology companies in Africa (2024)

7 countries needing tech talents now

The Netherlands

The Netherlands has become home to one of the most advancing and growing industries in the world, which is the tech industry.

According to Euronews, the capital city of Amsterdam boasts several innovative hubs and startups, including VU starthubs, Amsterdam startup park village, and much more.

Again, most of the world’s tech giants have their presence in the nation, boosting its reputation as a tech and innovative hub.

In this regard, there is an urgent need for tech talents, especially in the IT field. Finally, the average annual salary of workers in the tech sector is sixty thousand dollars, while the average monthly cost of living is

Three thousand dollars 

Switzerland

Switzerland hosts another opportunity for a high talent hunt among foreign countries. Most of the cities in Switzerland are IT hubs, among which are Zurich, Lausanne, and Geneva.

Also, the capital has a reputation for growing industries like fintech, cleantech, medtech, and biotech industries.

The country also has many cities that are known as a strong base for startups and innovative tech hubs.

According to startup Blink, these cities are trailing Zurich and Geneva as destinations in Switzerland for tech and innovative startups.

The estimated average annual salary offered in Switzerland is about one hundred and three thousand dollars 

Also Read: 10 Best paying tech jobs

United States

Of course, as we all know, the United States is home to most of the vibrant multinational tech companies in the world.

Notable cities like Silicon Valley in California, New York, and even Seattle are the major tech and innovative hubs in America. America is also home to the highest unicorns per capita and boasts of several startups and innovative hubs.

Moreover, the capital, Washington, boasts a strong government-industry while also witnessing tech companies. The average annual salary in Washington is ninety-nine thousand dollars with a monthly living cost of about four thousand dollars.

Denmark

Denmark is such a beautiful place to work and live by all standards. It has a very low crime rate and a culture that fosters growth and great success.

According to research, Denmark ranks as the second happiest place in the world.

Denmark also boasts one of the highest employment rates. It’s also a host to many multinational corporations such as IBM, Oracle, and Microsoft, among others.

The country has a huge IT and tech presence in Copenhagen.

In overall estimation, Denmark offers one of the most robust opportunities for tech Jobs and has one of the lowest crime rates in the world.

The average annual salary in Copenhagen is about $15,000, with an estimated cost of living of about $2,000 monthly.

Also Read: Benefits and challenges of working in the tech industry

Sweden

Sweden has a strong and vibrant tech presence in Stockholm, which is one of the major tech centres in Europe.

Stockholm is also the country’s financial hub, an industry that relies greatly on the tech industry for operation.

Stockholm has its tech hub at Kista, considered Europe’s largest tech cluster.

Kista is also one of the strongest bases for startups and tech innovation. It has the second most unicorns per capita in the world, only lagging behind Silicon Valley.

Sweden also has social support such as free childcare, free education, and other social opportunities for non-citizens.

The average annual salary in Stockholm is fifty one thousand dollars, with a monthly living cost of about two thousand dollars.

The United Kingdom

The United Kingdom boasts tech hubs in most of its cities, including Edinburgh, Bristol, and Manchester. However, the largest concentration of tech companies is located in London, in a place called the London Tech City.

Companies such as Facebook, Intel, Cisco, Google, and a host of others have their presence in the area.

The average annual salary in London is about sixty two thousand dollars, while the cost of monthly living is about five thousand dollars.

Also Read: Why these 7 promising Nigerian startups failed in 2023

Germany

Among nations boosting their tech talent import is Germany. And, as I stated earlier, my dear friend is in Berlin, the state capital, with his wife. Thanks to the sponsorship from a tech company, Berlin indeed has become a popular hub for business relocation and a far-reaching destination for international investments. Moreover, Berlin is a host to several international companies such as Pfizer, Benz, and Volkswagen, among others.

Finally, the estimated average annual salary is sixty-three thousand dollars.

Conclusion

The tech sector has seen an astronomical rise and increase, thanks to emerging technologies and innovations like artificial intelligence, data science, and cryptography. 

Again, this has had an untold effect on all other sectors like fintech, the biotech, amongst others. While these countries might be a good spot for relocation for those seeking foreign tech jobs, I must emphasize here that there are many other factors to be considered to make an informed choice. 

Countries like the United States have a high crime rate, and one of the highest mortality rates, relating to gun violence. while the UK, on the other hand, has a very high cost of living, including high taxation.

Also, another factor that one must consider in deciding on which country to move to is the cost of living. The UK for example has the highest cost of living while Denmark and Sweden offer one of the lowest costs of living

How to start shawarma business in Nigeria

Adetunji Matthew
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0
How to start shawarma business in Nigeria

A shawarma is a pita bread wrap loaded with the ideal amount of meat, cream, and vegetable combination. Although it is not indigenous to Nigeria, its flavour and ease of preparation have led to its adoption.

Nigerian shawarma has been redesigned to suit the tastes of the average Nigerian, and it is often cooked with chicken, beef, and Frankfurters (sausage), along with a little spice to provide some additional zing.

In Nigeria, shawarma has become a highly desired food for both adults and children, regardless of gender. Given that most people like shawarma, starting a shawarma business is a profitable venture provided you execute it well. 

In contrast to many other dishes, making shawarma is rather simple since it doesn’t call for a lot of expertise or complex components. In this article, I will break down the step-by-step method of starting a shawarma business in Nigeria. Read on to find out. 

How to start a shawarma business in Nigeria

Follow these steps to start a shawarma business in Nigeria:

1. Learn the necessary skills

People enjoy a good shawarma, so selling won’t be an issue for you if your recipe is spot on. Learning how to make delicious shawarmas from an expert could be a nice idea, even if it might not be required. Considering how simple it is to cook shawarma, this training could take a week or so.

Making shawarma is a knowledge-based endeavour; it is not something you can just decide to do one day and launch; you need to learn the how-to.

Also Read: 5 Ways to earn in dollars in Nigeria

2. Conduct market research

There are a few things you should be aware of and take into account before you contemplate getting into the shawarma industry. They include: 

  • The location: Selecting a somewhat busy location for your shawarma company is crucial. The best location will be one with plenty of foot traffic. It may be a popular grocery store, church, school, or bar, or it might be a business district with plenty of offices. If possible, find somewhere that there is no competition nearby. 
  • Target market: To whom are you selling shawarmas? Before you start up, you should think about your target market since it will tell you precisely where you need to be. It is not feasible for you to open shawarma stand in a low-income or rural location since not everyone can afford the luxury of purchasing shawarma. It is important to think about the sort of customers you want to serve and make sure they are either locals or employed in the region where you want to start your business. Your target market’s ability to purchase is a must for your success, so identify them and make sure they can. 
  • Your competitors: Since the shawarma industry is so profitable, there are a lot of individuals in it; thus, these people are your competition. You must research their companies to find out what they are doing well and poorly so that you may emulate them in your enterprise and remain competitive. This implies that to determine how to best enhance your service and product, you will need to go to your rivals’ booths and purchase or sample their shawarmas. You will sell more if your goods and services are of higher quality. Entering the market with a product that surpasses the best available at the moment is the main goal.
  • Capital: You will need to invest a considerable amount when starting a shawarma business. You will need to pay for the location, equipment, ingredients, and any employee you may have. Around ₦300,000 to ₦1,000,000 to start your business. 
  • Selling price and profit: Shawarma is very profitable. You will get at least double your investment in ingredients when you sell. The key is setting your price similar to the prices of your competitors and making sure yours is of a higher quality. 

The prerequisites are almost the same regardless of the city in which you choose to launch your business. To ensure that you remain on course and don’t stray from the plan, it is best you think about creating a business plan before you get started.

A business plan is crucial because, in essence, it is your company on paper, and having the company appear on paper contributes to the firm being more genuine. It will assist you in maintaining focus on every facet of your company, which will ultimately lead to success.

3. Set up your store or location

When it comes to space, shawarma businesses have two options: they may either rent a place or choose a location and set up a shawarma container.

Renting a shop is more comfortable and more professional for your business. You’ll probably spend less at the beginning. However, setting up a container is more flexible and you can easily move locations if your initial location is not ideal for selling shawarma. Although you might spend more setting up a container initially, it is more economical in the long term. 

Also Read: 5 Largest technology companies in Africa

4. Get the required ingredients and tools

Ingredients required for starting a shawarma business include Cabbage, cucumber, tomato, carrot, mayonnaise, vegetable, shawarma bread (pita), and ketchup. 

Tools required for a shawarma operation include kitchen utensils, a fryer, an apron, a deep freezer and cleaning equipment. 

5. Register your company

As your company begins to expand, be sure to register with the relevant authorities, such as the Corporate Affairs Commission and NAFDAC. The food industry is subject to many rules, so do all in your power to prevent future run-ins with the law.

Also Read: Top 10 business grants for Nigeria entrepreneurs

6. Promotion

Marketing your company is also essential since, no matter how good your product is, customers cannot come to you if they are unaware of your existence.

Contrary to popular belief, marketing encompasses more than just advertising, even if it is a component of it. Recall the four Ps of marketing: promotion, location, price, and product.

The day you decide on your location, the day you begin production, the product pricing, and the promotion all count toward your marketing strategy. These four Ps function together, so if any of them are done poorly—for example, by producing a subpar product—you will see a decline in sales.

Also Read: Why these 7 promising Nigerian startups failed in 2023

Conclusion

Starting a shawarma business is a highly profitable venture in Nigeria, as it is one of the most popular comfort foods eaten in Nigeria. As long as you employ the right methods and follow the steps in this article, you will be profitable. 

5 Ways to earn in dollars in Nigeria (2024)

Adetunji Matthew
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0
5 Ways to earn in dollars in Nigeria (2024)

Just about three days ago, in the blink of an eye, the dollar exchange rate skyrocketed to 1450 naira per $1.

While this might be sad news to most Nigerians, there are a few others who are not even perturbed, and as a matter of fact, it became a piece of very good news to them because their financial status has just gotten better. This is for just one simple reason, they earn in US Dollars.

This article deals extensively  and gives practical insight on how to earn in dollars 

What does that mean? 

If you are currently living in Nigeria, then you can understand how bad or even worse the economy has been, especially since the new government took over last year. 

The price of everything has skyrocketed, and the Nigerian currency has depreciated so much in value, despite this, many people’s  salaries have remained the same and haven’t experienced any significant increase

Given the circumstances we have found ourselves in, it will be truthful to conclude that if you are a regular 9-5 job worker and your salary is still in naira, especially in its five digits, it’s time for you to have an urgent rethink, less you become a victim of this current predicament. 

Unlike several years ago, earning in US dollars while living in Nigeria used to be exclusive to a certain class of people, these individuals became super wealthy because they were exposed to the right information at that time. But today, with the internet, ordinary individuals can now earn thousands of US Dollars right from the comfort of their homes legitimately every month. 

Having said that, regardless of your financial desires for 2024, whether to improve your standard of living or simply to increase your financial security amid the economic situation in the country, there are many ways to make good money, in dollars and just be at peace with yourself. 

 5 proven ways to earn in dollars  in Nigeria

Below are 5 ways to earn in dollars. And the beauty of these jobs is that most of them are remote which means you are required to Walk from the comfort of your home. 

1.  Freelancing 

The fact remains that the rise of the Internet has done so much more good than harm. One of the blessings is that it has created so many opportunities for remote freelancers. 

Freelancing is a contract-based profession where an individual uses his skills and experience to provide services to several clients across the globe, and gets paid either per job, per hour, or per month. 

Right now, many small businesses across the globe are looking for experts and professionals in a variety of fields, such as graphic design, video editing, copywriting, programming, tech, writing, digital marketing, and so on. And sometimes, some of these companies prefer to deal with Africans. One of the reasons is because of the notion that Africans are very cheap to deal with. So they want to cut down costs and save money. They’ll rather pay you $3000 for a good job, rather than paying another white guy $5000 or $7000

If you want to begin your freelance journey today, several online platforms enable freelancers to connect with clients around the globe. They include Upwork, LinkedIn, Freelancer, and Fiverr.

Read: Top 10 most in-demand Freelance Skills in 2022

2. E-commerce 

If you are already into buying and selling,  delving into e-commerce might just be the only thing you will need to start earning in dollars in Nigeria. With E-commerce, you can make your products accessible to customers on a global scale. 

Regardless of what you sell, either handmade items, digital products, accessories, etc. All you need to do is to create an online presence and store where your products can be displayed and people across the globe can seamlessly pay and have it delivered to them. 

Through this, you’re able to break every barrier in your business, interact with anybody across the globe, and skyrocket your income.

Recommended: Ultimate Guide to Shopify Dropshipping

3. Content Creation 

You can establish yourself as a content creator on YouTube and other social media platforms, by putting out content that appeals to people with the same interests. There are several niches available and you can focus on one, be it food, money, entertainment, etc

As a content creator, there are several ways you can earn dollars in Nigeria through YouTube channels. You can partner with brands to advertise their services and produce content such as videos, pictures, and blog posts for brands.

You can also organize different classes to teach your followers and viewers about any interesting topic related to your niche. Lastly, due to the number of followers you get and your activities, you are also licensed to get paid by different platforms such as Facebook, YouTube, Twitter, etc 

4. Affiliate Programs 

If you are looking for the fastest and easiest way to make money online and earn in dollars, even from day one, Affiliate marketing is that business model.

This involves partnering with other companies by advertising their products and services and you earn a commission each time a sale is made through your affiliate link.

 Many companies offer affiliate programs. You can increase your chances of success in this field by finding the right products and services that go well with the right audience.

The success of this model depends on your creativity in marketing the products to a wider audience and close them ultimately

Check out: How to make money through affiliate marketing

5. Investing in the stock market

If you are interested in investing, this is another good way to earn some dollars on the side. It offers you the opportunity to grow your assets and make more money. 

 However, you must gain financial education and do enough research about the financial market before you delve in

Platforms like Rise, Bamboo, and Piggyvest have made it a little easier to trade stocks in Nigeria. There are some platforms where you can now access a wide range of foreign stock options and choose where to put your money. They include Bamboo, Piggyvest, and Rise.

Recommended: 10 websites that pay you to answer questions

Conclusion

We are now in the digital age and it has become so easy for anyone living anywhere in the world to connect and do business across the globe, through the internet. 

And rather than see the economic situation in Nigeria as a cause for concern, you must rethink, and make the most of every opportunity to outsmart the economy. This is where finding a way to earn dollars or making money online has become a noble adventure that can earn you a fortune when done currently. 

Take the opportunity today, take the initiative today, and take your finances to that level you have always envisaged. There is room for you to begin now. 

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