By FSDH Research
There are opportunities for most people who follow the simple rule we share in this article to achieve financial independence and become multimillionaires in the Nigerian financial market.
Imagine starting a plan with as little as N200,000 in year one and you have over N53 million in the future. Interesting, right? That means that your initial amount has increased by over 266 times.
But if your goal is to become a millionaire overnight through a money doubling scheme, sorry to disappoint you, we cannot help you.
Building an enduring wealth requires discipline, consistent savings and an investing lifestyle. And anyone can achieve it if one is guided appropriately and start at an early age. But don’t worry, whatever stage of life you are in at the moment, you can still make it, if you start now.
You have probably seen an episode of ‘Who Wants to be a Millionaire?’ a TV series in which the contestant has to answer a series of questions correctly to win the final prize. Along the way, some helplines are provided for him or her to overcome difficult questions. The few people who make it to the final and highest prize are those who are diligent, focused, and utilise the helplines when required.
So, savings and investing in financial assets to achieve financial freedom over time share some similarities with the TV programme. It requires consistency and focus.
However, the main difference is that while very few people get to win a million on a TV programme, nearly everyone who applies the simple rule we want to share can become a millionaire. The game here is also simpler than the TV Millionaire contest.
If you invest your money in a bank for one year at a fixed interest rate, at the end of the period, you receive the amount that you invested and the interest earned for the period. If you do not withdraw both the principal and interest earned in the year one, and possibly you added a little more money at the beginning of year two, you will earn more interest at the end of year two. If you continue this process for a long time, you may soon enter the Forbes list of millionaires. This simple process is the basis for transforming your little savings and investments to multimillions to enable you to achieve financial freedom. And the good thing is that the process does not take you out of your normal business. Once you set the process rolling and you involve the right parties, you are good to go.
Now with practical examples; Imagine you start an investment programme with N100,000 on January 1, and vow to add N100,000 to the plan at the beginning of each year. So, at the beginning of year one, you have N200,000 made up of N100,000 initial investment and the N100,000 you plan to add yearly.
If the investment generates 10 percent every year, and you are religious with the yearly contribution of N100,000 at the beginning of each year and you invest the interest each year, guess how much you will have in 40 years. Your investment amount would have grown to N53,211,106.68 on the 40th anniversary of the commencement of the investment programme. This is becoming a millionaire through compounding interest and a disciplined lifestyle, while focusing on the long-term.
The Nigerian financial market now has instruments and structures that support the achievement of this goal.
Some of the instruments are: tenored funds with Banks, Mutual Funds managed by professional fund managers, Federal Government Savings Bonds, Commercial Papers, Treasury Bills and Federal Government Bonds.
Each of these instruments has different characteristics and minimum amounts for initial start-up. You will need to speak with your investment manager to explain details to you.
Stock is another instrument that can enable you to achieve financial independence. A word of caution here; there are substantial risks attached to this investment option. The performance of the Nigerian stock market as measured by the Nigerian Stock Exchange All Share Index (NSE ASI), the barometer to measure the performance of the market, shows that the market recorded a return of 24,590 percent between 1985 and 2018.
This mean that an investment of N100,000 in 1985 was worth N24,690,102 in December 2018 without additional capital if we take the performance on the market as a proxy for the investor’s return, a growth of 24,590 percent over a period of 33 years. Not bad growth at all.
Your regular savings and investments help government to access funds to build the required infrastructures and systems that enable the economy to grow. Such savings and investments also help companies to access funds to expand their operations thereby creating job opportunities. You may want to ask a question relating to the impacts of general increase in price (inflation rate) and the movement in the value of the currency (exchange rate- depreciation) on the investment over the period. We are aware of all of these narratives but if you have no savings and investment plan, you are worse off. Regular savings and investing help you to reduce the negative impacts of inflation and currency adjustments on your wealth. The regulators in the Nigerian financial market now have zero tolerance to any infractions – their primary goal is to protect investors’ interests.
If you have any complaints against any players in the market, the regulator such as the Central Bank of Nigeria and the Securities and Exchange Commission will be willing to take it over. A mail to the regulator or a call will do the magic.
The next line of action for you is to get an investment manager and sign up for a savings and investment plan that suits you. See you on the Forbes List in 40 years from now.
2023 Election: The Role of Media Monitoring Services
By Queen Nwabueze
This 2023 election season is a true test of the much-vaunted objectivity of journalists.
Journalism’s pursuit of objectivity strives to enable readers to form their OWN opinions about a story. This implies that the media (mainstream and digital) must present the facts solely before allowing the potential voters to offer them their interpretation. Again, this means that news organisations should present the facts as they are, whether or not they agree with them.
Lovely on paper, yeah? But has this really been the focus of our media since the polls for 2023 began to be conducted? No!
A well-liked TV station reporter was recently discredited for having ties to a well-liked political party (names withheld for ethical reasons).
Hold on for a moment! Let’s sketch out the perfect situation once more. In journalism, objectivity means refusing to embellish any facts or details in order to strengthen a narrative or better align a topic with a predetermined objective. Similarly, according to the profession of journalism’s neutrality standards, news should be reported in an objective, fair, and impartial way. In actuality, according to this idea, journalists should support NONE of the competing political parties and should instead just present the pertinent information to everybody.
How about disengagement? The journalist’s emotional stance is referred to as detachment. Basically, reporters MUST approach topics not only objectively but also with a cold, emotionless mentality. This tactic calls for the telling of tales in a calm, collected manner, allowing potential voters to make their own decisions apart from the influence of social or traditional media. Again, all of these principles seem sensible on paper.
You might be wondering why this article focuses so much on the Disneyland roles that the media play during elections.
Sorry, but without hammering our media, we cannot properly address the subject of “2023 Election: The Role of Media Monitoring Services.” The role of media monitoring services should reflect the fact that the media’s actions and inactions are at the centre of every aspect of elections and electioneering. That is the reality!
Election seasons do in fact coincide with times of increased media attention and reporting, with each political party seemingly desperate to take the helm of the nation, as we’ve seen in more recent years. These times of change are frequently marked by extremely competitive rhetoric, escalating tensions, occasional political bullying, and occasionally even violent confrontation and death desires.
Since the media is the main driver of these dynamics, political candidates and campaign offices should use media monitoring services, if only to uncover information that is hidden from plain view and has the potential to prevent voters from receiving enough information to make informed voting decisions.
You may track your candidacy, your opponents, public media conversation, and even detractors in real-time across all media in Nigeria, including print, online, broadcast, and social. P+ Measurement Services is one such media monitoring service.
Largely as a result of Walter Lippmann’s work, the concept of objectivity in journalism as we know it now exists. After the excesses of yellow journalism, Lippmann urged impartiality in journalism. The yellows of the period, he said, had served their role, but the populace needed to hear the truth, not a “romanticized version of it.”
Not to cry anymore over already spilled milk, but this article strongly suggests that you hire expert media monitors to join your campaign organization and conduct your listening on your behalf. Do not employ individuals who are unqualified to watch your media.
You may have noticed that the electorate now lives online in this era of online media—your own potential voters! Where are they getting their political message from? If it’s in your favour, are you certain?
Since internet media has become so crucial, it is not advisable to quickly enter and leave.
Who is keeping watch of the media for you? Are they qualified?
Online media has significantly altered how individuals consume political messages. These advances have also resulted in certain unfavourable occurrences, such as a significant rise in material that is unreliable, context-free, and biased against you and your political party.
For instance, a number of studies have shown P+ Measurement Services that your critics are using newly forming social and tribal divisions to preach to your adherents. What will you do next, then? If your party is sincerely committed to winning the 2023 elections, we advise you to use media monitoring services to provide you with accurate information.
PPlus’ approach is straightforward. To manage the perceptions that shape your reality across the media, they engage in 24/7 media fact-checking, media monitoring, and traction using international standard listening and intelligence tools/metrics; they then report back to you with the crucial findings/feedback and hand you the precise places you need to influence.
Queen Nwabueze is a Media and Content Strategist based in Lagos
Nigerians are Multidimensionally Happy…
By Prince Charles Dickson PhD
How do you show you’re happy?
If you’re a cat, you purr. If you’re a dog, you wag your tail, and if you’re a rabbit, you bust out your best binky moves. You read that right — binky. When rabbits are happy, they do this crazy kind of move called a binky. Each bunny has its own binky style, but it’s a kind of jumping, mid-air twist with a kick and a little hop or two on the landing. Some bunnies’ binkies can reach almost three feet in the air!
If you watch a bunny binky, you can’t help but be happy too.
So, back to that first question: How do you show your happiness? Sure, there are tough days, but there are also wonderful days when everything seems to go your way. You wake up to your favourite breakfast, ace the test, and find an extra naira in your pocket.
There are days when God blesses you with a chance to help a friend or the opportunity to learn something new about Him. And there are so-so days that are still amazing because you get to share them with Him.
So, how do you let the world know life is good? Smile, sing, whistle, or dance — whatever says “happy” to you.
Just be sure to thank the One who gave you all those reasons to be happy.
So, how do Nigerians show they are happy? A nation that the latest Multidimensional Poverty Index (MPI) report on Nigeria, released by the National Bureau of Statistics (NBS) this November, shows the country has a higher incidence of poor people but less intensity of deprivation, even though the report measured more indicators of poverty than in the past.
How do people considering 15 indicators, instead of the 10 indicators in the past 2 surveys, with at least 133 million, 63% of the country’s population, suffering from multidimensional poverty see happiness?
Furthermore, the 2022 MPI noted that the extent of the deprivations that these 113 million poor people suffer is an average of 40.9%. With these kinds of statistics, what’s there to be happy about?
Nigerians are happy, we are still high up there in the index of happy people, and I add very happy people. People were kidnapped, robbed, and flooded, week in, week out. And yet thanksgiving services with dances of all types and executions follow suit. We are happy jare…forget all that multidimensional English!
We remain a proud people, joyous in nature, never put down by ‘little’ setbacks like stealing leaders. Visit a state where workers were owed seven months’ salaries on a Saturday, you see women and girls adorned in expensive glittering ‘aso-ebis’. Thousands were spent on event planners/transport/comperes and more.
We are happy people, we love to party and forget that ‘MPI’ thing, and we have continued in our happy nature unabated. We are happy that Ghana lost her match to Portugal because they denied us that spot to be at the Mundial.
We attend ‘suna’ (naming ceremonies) and’ igba nkwo’ (traditional weddings), and ‘oku’ (funeral parties) of the same leaders we accuse of looting us dry. It gives us loads of joy and happiness, you get free food and booze and a fight if you are at the right party.
We are happy people, the only people who, after being used, abused, disused, and misused, are tortured with the flamboyance and ostentatious living, and all we do is admire them and cling to hope—after all, ‘my turn will soon come’.
Happy people: very few countries can live the way we do, weeks without light because the power transformer is bad, yet you pay bills. Fuel stations have no commodity, yet opposite those stations, young men sell the same fuel at hyper-black prices for a product we are blessed in quantum with.
We are sad people when the thief who is looting is from the other side, but when it’s from our town, we use the phrase “he is helping our people”. And because stealing is everywhere, we all are happy.
‘Multidimensional my foot, tell that to the birds–we bribe the police and accuse them of taking bribes. We don’t really pay electricity tariffs, yet we say ‘there’s no light’, when actually it’s a case of Aso Rock owing PHCN, PHCN owes gas company, that one owes staff, the staff is in debt of school fees, rent and utility. We are happy people!
Maybe if the report had said we multidimensionally grumble, no arguments. Maybe we complain most, that’s true, yes maybe we are amongst nations with the most problems. But how do you know Nigerians are happy…
People who pay in recruitment scams in the police, immigration, army, civil service etc, are happy people.
A nation that has bribes for admission scams or money for marks in school scams. Rent without house agent frauds. Pension fraud, electoral fraud, where girls date six guys simultaneously and men date five women, including their secretary, wife’s best friend and driver’s wife and nothing happens…cannot be multidimensionally poor.
How many suicides can be traced to spirited men that were tired of the system and called it quits–the fact is we kill to be happy because, in Nigeria, happiness is it. We steal to be happy because that’s the real deal. We want to be happy not because we are sad but because we want a status quo.
We want change but don’t want to change and are weary of change; a Nigerian adage says an erect penis has no conscience. Nigerians are not multidimensionally poor; when an accountant general would steal enough money to pay all the nation’s university teachers’ salaries, there is no real arrest, no outrage. We are happy, if we really are poor, it is not because we are poor, it is because we are multidimensionally happy and not pained enough to do things differently.
How do you know a Nigerian is happy; he runs kitikata on the same spot and blames everyone but himself, so, as long as the thief is from his hood, he is happy, as long as his neighbour also does not have electricity, as long as his enemies, real or imaginary are suffering some fate he is exempted from, as long as he is winning a football game he was ill-prepared for, as long as he gets a job he least deserves and more; he is happy, when will that change—only time will tell.
Itsekiri And Ijaws’ Creation of Hyper-Modern Path to Peace Via Football Tournament
By Jerome-Mario Chijioke Utomi
Benikrukru Community field, Gbaramtu kingdom, Warri South West Local Government Area, Delta State, the kickoff venue of the Ijaw/Itsekiri peace and unity football competition initiated by Chief Sheriff Mulade, Ibe-sorimawei of Gbaramatu kingdom and National Coordinator/CEO, Centre for Peace & Environmental Justice (CEPEJ), was on Wednesday, November 16, 2022, filled to capacity and moderately dotted with imposing banner conspicuously positioned with screaming but familiar inscriptions that emphasise on the importance of peace and unity to humanity.
The ambience at the venue was refreshing as merrily dressed guests strolled in. Community members of Ijaw and Itsekiri origins were relaxed in their sitting positions. They were entertained to the rhythms from the stable of Ijaw and Itsekiri traditional dancing maestros.
Their humble and friendly dispositions complimented each other and made it very easy for non-indigenes to be at ease in their presence, even as that was the maiden visit to the community.
Aside from having in attendance former Super Eagles players, Christian Obodo and Sam Sodje, among others, the event was also graced by courageous Niger Deltans, who have met resistance from their own government in the past but refused to give up in their quest to build a better Niger Delta region and Nigeria by extension.
But of all that I observed, the gathering acknowledged what has been on the mind of Nigerians.
Fundamentally, it frontally demonstrated a strong conviction that non-discrimination, justice and fairness are the foundation for peace, unity, stability and economic prosperity of any nation. From the love that existed among the two ethnic groups on that day, at that time and in that place, it was obvious that building a nation where all citizens of the country shall not be discriminated against on the basis of ethnicity, sex, language, religion, political or other opinions, birth or other status is possible.
Essentially also, from the way the two teams entered the field with a stride of confidence and fair play, the competition provided Ijaw/Itsekiri with an opportunity for introspection by the two ethnic groups on the journey so far. Some gave the ‘union’ kudos for the tremendous progress it has made in forging unity and peace and riding the area of hatred and hostility, while others felt that the new challenge before the two ethnic nationalities is to transform into a strong economic bloc in order to position for the challenges of the 21st century as it patterns Niger Delta region.
To assist readers in appreciating this current journey to sustainable peace by the two ethnic groups via football tournament, it is important to underline that the district of Warri in Delta State, going by reports, has been the scene of ethnic and territorial conflicts between the Itsekeri and the Ijaws since March 1997, when ethnic violence broke out between the Ijaws and the Itsekeris following a government decision to relocate the headquarters of the Warri south local government council from an Ijaw community to a community belonging to the Itsekeris.
Though the hostility was overtly arrested and brought under control, covertly, it has remained a zone where fierce war has been raging between ethnic and social forces in Nigeria over the ownership and control of oil resources. And as a direct result, a long dark shadow has been cast on efforts to improve the well-being and economic development of the region’s individuals, peoples, and communities.
Without a doubt, the Ijaw/Itsekiri hostility is not only telling evidence of the numerous problems facing the people of the Niger Delta region, but largely an expose of unwillingness by the government over the years to address problems which possess the potent capability to affect the stability of Niger Delta as a region.
The above claim, in my view, becomes more telling after listening to Mulade, who spoke on the sidelines in the kick-off match, where he stated that ‘’The essence of this tournament is to try and reduce the hostility among us. Some years ago, we had some misunderstandings. That led to what is known as the Warri crisis. So, what we are doing is building the relationship. So, for you to join us is to support this celebration of peaceful co-existence.”
Certainly, there are grains of truth in the above position. The tournament has not only brought out something different and fundamentally new that will help shape the relationship between the two ethnic groups. Rather, it has assisted in providing health and vitality of peaceful co-existence, rededicating commitment to peace, promoting unity and intensifying harmonious development of the Niger Delta region.
The facts are there and speak for it.
On Monday, November 7, 2022, it was reported that the Olu of Warri, Ogiame Atuwatse III, while playing host to Chief Mulade Sheriff and members of the Local Organising Committee (LOC) who paid him a courtesy visit in his palace, gave his endorsement and royal blessings to the peace and unity football event. The Olu applauded Chief Comrade Sheriff Mulade for initiating such a laudable programme and promised to liaise with Mr Amaju Pinnick to bring his wealth of experience in football management to support the process.
In a similar style, members of the LOC, on November 11, 2022, were received by Oboro Gbaraun II, Aketekpe, Agadagba of Gbaramatu Kingdom in his palace at Oporoza, the traditional headquarters of the kingdom.
In his response, the monarch appreciated the organizer’s initiative and implored him to continue preaching and spreading the need for peaceful coexistence because peace is not negotiable. He also enlightened the LOC team on the importance of peace to attract development to Delta, particularly Warri and its environs. He encouraged the untiring contribution of the LOC towards uniting Ijaw/Itsekiri, the importance of which is crucial to harnessing the dividend of development and opportunities to our people.
While this piece celebrates the feat, there are, however, accompanying beliefs in my views that the Ijaws are a truly peaceful set of people.
The first such example is a recent statement by an Ogbe Ijoh-based political pressure group, the Independent GrassRoots Liberators (IGL), where the group, among other comments, pleaded with the Senator Ifeanyi Okowa’s led Delta State Government to immediately settle the communal disputes between Ogbe-Ijoh, Ijaw ethnic nationality of Warri South-West Local Government Area of Delta state and Aladja, an Urhobo community in Udu Local Government Area of the state, adding that they want to live in unity as they have been living before. “We don’t want to be killing ourselves anymore,” they said.
The second has to do with the recent comment credited to Pere of Gbaramatu Kingdom, Oboro-Gbaraun II, Aketekpe, Agadagba, at his palace in Oporoza, the ancestral headquarters of Gbaramatu Kingdom while he played host to Mr Ali Muhammad Zarah, Managing Director, Nigeria Petroleum Development Company (NPDC), on Sunday, November 13, 2022.
The first-class monarch, according to media reports, said; “This is Gbaramatu Kingdom, and we are very peaceful people. If you come closer to the people, you will know the kind of people we have here. Some people can castigate our names or tarnish our image, but we are not like that. We know who we are.”
Waxing philosophically, the Monarch said, “We want to say, if the children are happy, definitely the father is happy too. Recently, I told some senators that instead of staying in Abuja and speculating about what is happening in the Niger Delta region, they should take a trip to the region for an on-the-spot assessment of the situation. If they come, they will know how the people are, but staying far from them, you cannot know how they really are. So I am very happy for people like you visiting our Kingdom.”
As the author of this piece, while I commend the efforts of the tournament organisers, the piece, on its part, thinks that there is a lesson government must draw from the above words of the revered traditional monarch.
Utomi Jerome-Mario is the Programme Coordinator (Media and Policy) at Social and Economic Justice Advocacy (SEJA), Lagos. He can be reached via email@example.com/08032725374
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