How To Become A Millionaire In Nigeria

How To Become A Millionaire In Nigeria
As a Nigerian youth, if you are asked this question 'Do you want to be a millionaire?'
Your answer will probably be yes, some will even go further to saying that they want to become billionaires.
Being a millionaire is not all about winning lotteries or bets (though they are among) but I'm talking about people that want to are ready to become millionaires from their hard-work and determination.
To be frank, it never happens by magic or as an accident (except in some lucky cases) but comes after a series of systematic steps and it also requires a certain level of discipline and wisdom. You can become a millionaire if you know the best things to do and also if you do them at the right time and the best ways they should be done.
How To Become A Millionaire In Nigeria

Get A Job

My friend once told me that 'football betting and ponzi schemes' can't make you rich, they can only make you richer and I picked the word. Are you confused? Let's look at this scenario.
When MMM was still paying Nigerians, some people borrowed money to invest there with the mind of paying back in a month's time and then taking the interest, while some rich guys took just N5 million out of their net worth and invested.
When it was announced that the thing had folded in Nigeria, those that borrowed money to invest in it suffered heart breaks while the rich people move on with their lives without feeling much about it.
In the case of football betting, you'll see a Nigerian student putting his whole pocket allowance into betting, a hundred Naira a day with the aim of winning N10 million someday, while a rich guy will invest N10,000 to play a game of 2 odds and at the end, he'll be smiling home with his profit.
So if you really want to be a millionaire, the first step is to start a reasonable job, leaving all these lotto, pools, betting, gambling and other things that just depend on luck.

- Focus on earning

It is not that easy to save your way into becoming a millionaire in today's economic environment, rather invest in things that have the potential of giving you wealth.
To be honest, the word earning is easier said than done, however if you'll focus and determine, in a matter of time you'll smile at having made your first million.

- Develop multiple streams of income

In Nigeria now, it is somehow impossible to survive with only one stream of income. If you are someone that loves internet business, it'll be good to combine blogging with freelancing and other ways.
Same goes to offline business, you can combine your regular jobs with a business, or combine two different businesses together for maximum profit.
How To Become A Millionaire In Nigeria

- Learn To Save

You should save for investing, not save for saving. Creat an account with a bank that pretty far from your house, don't collect any cheque book or ATM card, then add a fixed amount of money into it monthly.
The account should be sacred and untouched for a certain number of years, also plan on the type of business you'll invest in. 
If after saving the fixed amount you still have some excesses, then you can consider contributing with an individual retirement account it all depends on your income.

- Learn How To Invest

Like we said earlier, the only way to double your income is by investing. Invest your savings and you'll see your income accumulate with a matter of time. In some cases, you can also collect loans from banks but be careful as some banks have exploiting rates and if you don't repay back within the agreed time, it will lead to you losing your collateral.
However, if you have a great business idea that you think will yield a great profit, collecting loans will be a great choice.

- Avoid pride

Avoid showing off or living in luxury till you reach the a great level. It is better to be known for your work ethics and not the trinkets that you buy.
Grant Cardone, an author said that he didn't was using a Toyota Camry even as a millionaire, till he had a stable and multiple streams of income.

- Change your mindset about money

According to Grant Cardon, the reason you don't have money is because of what you were taught about it.
How To Become A Millionaire In Nigeria

Becoming rich all depends on your mindset and the things you believe about making money.
Some people believe they are comfortable with their current jobs and don't really want to work hard towards making it while the rich believe in what they don't see and work hard towards them.

Read books

We have previously selected 7 books you should check out if you want to be successful. Tucker Hughes, who became a millionaire at the age of 22 advises people to read at least 30 minutes a day.
Inclusive to this is listening to motivational podcasts while driving, walking or even working. They have much to contribute to you.
It doesn't lie in just being a master in your field of interest, you should also master some other fields like politics, music, sports or financially related.

- Set goals

Set goals and work hard towards achieving them. Money can't just appear from the thin air, you need to visualize a dream and work hard towards actualizing it.
How To Become A Millionaire In Nigeria

- Build your character

You can't be clubbing every night when you are nit a millionaire and expect to become one. You should also have a certain degree of determination and discipline, and the ability to fend off disasters and failures easily, because the entrepreneurs terrain is not a very smooth one. There are many ups and downs involved in them and only the brave reach the peak.
Also, you should have the mindset of taking risks. Try out new business ideas wisely and if they favor, you'll see yourself moving into a new financial height.

- Hang out with people of like minds

Look around you, you must see a group of people that have the same mindsets as you. If you are a student, there are groups like the Rotaract Club, UncommonMe International and many other similar groups.
Remember this saying, 'show me your friend and I'll show you who you are!' Associate with people that believe that they can and can help you achieve your goals, while introducing you to new opportunities and business ideas.
Like we earlier said, becoming a millionaire doesn't easily but comes after as series of hard-work and persistence. Remember, it was not set for anybody and anyone can become it someday.
Read motivational books, believe in yourself, read the history of successful people and most importantly, work. I wish you success as you soar higher.
Do you have anything to add, please drop them in the comment session, also if this article helped you, don't forget to share to your friends.
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