How to become a successful investor in Nigeria

Most companies in Nigeria often complain about operating in a challenging and competitive environment, saying investing in the country is an intimidating endeavour for a lot of people.

Young Nigerians who are also willing and anticipating joining the labour force with modest income levels are not left out in the lamentation as a lot of underemployed folks say it is very hard to save, let alone invest.

However, there are proactive ones, who are determined to save and thereafter invest, this piece, will explain in clear terms simple ways to get started in your investment journey.

First of all, you must have a goal, because having a goal is the first step in getting started in your Nigerian investment journey.

Your goal will define a clear picture of what you desire to get out of investing. Goals make the investment journey purposeful. For instance, how much would want to have by age 40? Which part of Lagos and Abuja would you like to have a piece of land before 40? Or you simply would like to have a strategic capital or cash of N10million in your account by age 30?

Also, to become successful in any type of investment of your choice, you must research. Because once you have a goal in mind, the next step is to do some research. The research includes learning about the investment options available in the Nigerian market.

Some popular investment vehicles include Treasury Bills, Mutual Funds, Fixed Deposits, Equities (stocks) among others. These investments have varying risk-return profiles.

How much have you saved to enable you to invest in any of the available instruments in the Nigerian markets? As soon as you figure out which of these investment products align well with your goal, you must start saving aggressively.

Although, saving aggressively doesn’t necessarily mean you should save all your salary. It means to be consistent with whatever amount you feel capable of saving, usually like 10 per cent –20 per cent of your monthly income. And once you have saved up a certain amount, you can then move this amount into any investment vehicle you have identified.