What To Do With 100k In Nigeria | Best Investment Options
As crazy as it may sound, what to do with 100k in Nigeria can be an overwhelming challenge. By investing and reinvesting all profits they make back into the business, 100k has set some people up for life.
You may have the money but not know what to do with it. This article can serve as a guide to show you businesses you can do with 100k in Nigeria.
What To Do With 100k In Nigeria
1. Invest in a Salon Business
Running a salon is one of the best businesses you can do right now. The business is independent of most, if not all government business policies depending on the area you set up and it does not require much capital to start.
Hair making will forever be in business as long as humans work the face of the earth. And this activity cannot be done by machines so the fear of robots taking over the jobs doesn’t apply here. Even if robotic inventions get to the stage of hair making, they won’t be able to provide that human natural touch and let’s be honest, before that kind of invention gets to Nigeria, it will take a while. By then you should have made your millions.
See also: Skills You Need to Start Your Own Business
2. Invest in a Clothing Line
Owning a clothing line can also be considered in figuring out what to do with 100k in Nigeria. As fashion trends continue to pop up, the number of fashion-conscious people will continue to increase, meaning more money will be pumped into the clothing sector.
Nigeria’s fashion market is currently worth about $4.7 billion and is expected to rise in the coming years. So an investment in this sector should not be taken likely.
You can invest your 100k in a clothing line and like all good businesses, start small.
3. Invest in a Food Business
According to Stears Business Report, during the first half of 2019, Nigeria spent 334.3 billion naira on food importation, which was two times greater than the export earnings from agriculture. Although the country is trying to cut costs on food importation, it continues to record a rising thread. This is because the country is consuming more than it is producing.
This analysis makes investing in food importation a good investment.
4. Invest in the Stock Market
Buying stocks is also a great option in determining what to do with 100k in Nigeria. Everybody likes the idea of quickly doubling the money. By buying stocks you can double or even triple the money in a short time. You just have to research to determine what shares to buy.
Getting a rough estimate of how much time it will take to double the money will also help you to compare investments. You should know that it is not wise to pump the entire 100k into a particular investment. Put your eggs in many baskets.
Bear in mind that investments are risky so be careful.
Read also: The surest way to invest 50k in 2022
5. Invest in Cryptocurrency
Cryptocurrency has and continues to make waves in the financial space today. It has made many multi-millionaires and will still make many more. It is one of the things you can do with 100K in Nigeria.
With 100k you could invest in it by buying reliable coins at their lows and selling at their highs, thereby making massive profits.
Conclusion
There’s a still lot you can do 100k; these are just a few. With 100k you could invest in stable businesses like the ones mentioned in this article as well as invest in volatile instruments like Cryptocurrency, the choice is yours. My advice, however, is that you should carry out your due diligence before investing in anything. I hope this article helps you in deciding what to do with 100k in Nigeria.
