Top Investment Options in Nigeria Today
Investments are a great way to make passive income, and there are so many investment opportunities in these times. Even as the year quickly runs out, it’s still a good time to catch up with your goals, especially with your finances, and to begin setting smarter goals for 2021. You’ve probably decided to definitely go into some investments come 2021, but you remain unsure of which ones to venture into. There seem to be so many options and so little information. Well, we’ve got you covered. Here are our top investment options for Nigerians.
Invest with Banks
One sure investment option is investing with your banks. Every Nigerian bank has an investment option for their customers to help those customers passively boost their income. You could choose to start out with a savings account which as the name implies, helps you save more and spend less. It is quite an attractive way of investing your money as long as you have a reliable bank. Most banks in Africa help entrepreneurs, students, employees, etc save money by giving them an annual 10-15% interest.
One important thing you should know about investments is the higher the ROI, the higher the risks involved in such investments. So, while your bank offering 10-15% ROI interest annually might seem like a really low interest, take note that the risks of investing with your bank are just as low, especially when compared to other investments.
Invest in Cryptocurrencies
Cryptocurrencies are known all around the world to be one of the biggest and riskiest investment opportunities. But despite the great risks associated with cryptocurrencies, if you know how they work, then you’re sure to receive high yields on your investments. Here’s what you should know about how cryptocurrencies work in Nigeria.
With cryptocurrencies, you can buy your cryptos at low prices, and store them until their prices become high. Then, you can sell them or wait for them to get even higher. It’s important that you understand how cryptocurrencies work before you begin investing in them. Be sure to contact a professional who can assist you with learning the ropes before you put your money in.
Invest in Real estate
Real estate investment in Nigeria is another tested and trusted investment opportunity, especially in Nigeria where housing and accommodation have proven to be a major issue of concern. Gone are the days when you needed to be a landlord or have enough money to buy a house before you could invest in real estate. Now, there are several avenues and opportunities for you to easily invest in real estate without possessing millions of naira.
Real estate agents will tell you about installment payments, where you can pay a certain amount per month until your money pays for the house in full. I consider this a good investment choice, as it’s encouraging, and also helps you get your own house in due time. Not only this, but real estate is considered a good investment choice because it’s an asset, and we all know that assets generally increase in price. So, you might get a house, live in it, and still sell it at a higher price when you’re ready to move out.
Invest in Agriculture and Livestock
The importance of agriculture and livestock to the Nigerian economy cannot be overemphasized. It’s one of the best investment options in the country. It’s no wonder most politicians and reputable and wealthy Nigerians have farms and livestock. The Nigerian government is currently making conscious efforts to resuscitate the industry, and so investors are highly needed.
You don’t have to be interested in direct farming for you to invest in agriculture and livestock. You can invest in a company that is already into farming and is already making profits from the business. Investing with these companies will guarantee a yield on your investments, and you also make profits without necessarily having to get your hands dirty.
Invest in Bonds and stock
Bonds are a completely different type of ballgame. The Federal Government of Nigeria offers FGN Savings Bonds to its citizens providing Nigerians with a fantastic investment opportunity. The investment program contributes significantly to the country’s national growth. By lending money to the Nigerian government, Nigerians are able to make money by earning their interest on savings. You can invest from N5,000 to N50,000,000 for 2 to 20 years, with an interest rate dependent on your timeframe. You can have an interest rate of up to 13% from FGN Savings Bonds.
The investment is also tax-free and if you happen to need a loan from a commercial bank, you can use your money saved in the bonds as collateral. Investing in bonds provides you a safe, secure, reliable, and guaranteed way of boosting your income.
You can also consider investing in other sectors of the Nigerian economy, such as oil and gas, media and entertainment, logistics, transportation, etc. The bottom line remains that before you take any step to invest your money, ensure that you have sufficient information to guide you through your investment journey.