Why An Average Nigerian Cannot Rely On A Single Source Of Income

Today, you and I will quickly talk about the topic “Why An Average Nigerian Cannot Rely On A Single Source Of Income”.

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Why An Average Nigerian Cannot Rely On A Single Source Of Income

I came across a tweet on Twitter yesterday that got me thinking.

An average Nigerian earns between 50,000NGN – 100,000NGN monthly.

Let’s take the average of the aforementioned salaries, that’s about 75,000NGN.

If the total number of days in a month is used to divide that amount, let’s say 30 days. This is the interesting part.

75,000/30 = 2,500

You end up making 2,500NGN/day.

This is not even sufficient for daily upkeep.

Many traders who do not have white-collar jobs make a little more than this on a daily basis.

When we bring accommodation, electricity and daily transportation into the equation, it shows how difficult it is to survive on such salaries.

Graduates from universities and polytechnics also face a challenge when sent to serve the country for a year.

During that duration the graduate is paid 19,800NGN monthly.

If we do the same calculation that was done for the average amount a salary earner gets a day, an NYSC corper would be getting about 660NGN daily ( that’s less than 2$).

That amount cannot be used to purchase three square meals – the square would have to be taken off 😀.. The average cost for a meal should be between 500NGN – 1,500NGN.

With the way things are going in the country, one has to create employment for oneself.

You can learn a skill, a hand work, learn to code, write articles/books or think about blogging or vlogging.

You have to keep your hands busy doing something. The government ain’t got your back. Do not rely on them. Creativity is what pays off these days.

Like Naval Ravikant once said, you have to find your “specific knowledge”. This is a path you have to take on your own (or under apprenticeship), specific knowledge cannot be outsourced or automated.

Diversifying your source of income is one that needs to be done. That’s the reason I encourage many to get in cryptocurrency, it’s a market you can use for this.

Quite a number of factors were taken into consideration while conducting this analysis. Just basic maths, but factual.

That’s the much we can take on the topic “Why An Average Nigerian Cannot Rely On A Single Source Of Income”.

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