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Word on the streets is some 9-5ers still don’t know how to answer the “What’s your expected salary?” question. I also heard some just collect whatever amount is written in the offer letter.
Ah. Don’t you like money, dear?
I’m not even shading anyone. Some 9-5ers is me; I’m some 9-5ers. I also want to learn how to earn what I deserve, so I got these millennial professionals to share tips on what’s worked for them.
“Research o”
— Chinwe, 28, Human resource manager
When I ask people what salary they’d like to receive, I expect their answers to show they’ve done their research. Like, how would you apply at a multinational and say you want to receive ordinary ₦150k? It may be much to you, depending on where you’re coming from, but you have to make your findings. Research o.
Plus, research helps when the company doesn’t put the expected salary in the vacancy. I use Glassdoor. Your research should answer questions like, “What is the normal salary range for this role in this industry?” “How much does this company typically pay?” This is so you have something reasonable to say when the question comes up.
“Know when to try”
— Ola*, 31, Digital marketer
It hinges a lot on the type of company you’re applying to. I’ve found that many Nigerian companies aren’t really open to negotiation. They’ll just put the salary there; try to ask for something higher, and they’ll be like, “Is this one serious?”
So, know when to try to ask for more. If you really want the job and don’t want to risk it, just accept their offer. If they ask you for your expected salary during the interview, give a range, but emphasise that you’re open to hearing what they have in mind. If they’re trying to poach you, feel free to go crazy. The fact that they reached out to you already means they want to hire you, so they’ll be more open to negotiating.
“TBH, it’s a gamble”
— Joe*, 33, Graphic designer
There’s no one size fits all approach to it. TBH, it’s a gamble, but you can also make an informed one by comparing what you earn to what others earn.
One thing I try to do is double my current income and use that as a template for the “What’s your expected salary?” question. It’s either they get back to me or they don’t. Someone offered me a salary once, and I reached back to appreciate their offer but explained why my skills, experience and the value I would bring to them meant I needed a 30% increase on what they initially offered. They accepted. You’ll never know if you’ll be lucky unless you try.
I learnt something from a career coach: have a brag sheet of your accomplishments ready so you can defend whatever amount you’re requesting as remuneration at the interview. Let them know what you’re worth.
If you want to ask for ₦3m for instance, your previous accomplishments should tell them, “Yes, this person is worth it. If they could do so and so at this place, they should be able to do more here”.
“Be open to negotiating”
— Ore, 27, Financial analyst
Some companies won’t even ask how much you want to earn, they’ll just put an amount in their offer letter. If you’re okay with it, fine. But I always tell my friends to be more open to negotiating. Try to ask for more. It can be something as simple as asking for a one-time 20% increase to cover your logistics needs if you’re moving locations for the job, for instance. Of course, it also depends on the company, but there’s no harm in trying.
“It’s not just about the salary”
— Leah*, 37, Brand manager
You can also negotiate better benefits or leave days. It’s not just about the salary. If you’re applying for an executive-level position, for instance, your offer letter may include the allowances you’ll get. So, if they’re offering you a 10% transportation allowance, you can negotiate for a higher percentage, or if they’re offering 15 leave days, you can negotiate for 20. Remuneration isn’t just about the salary; it’s the entire package.
“Try… and pray”
— Jojo, 30, Content marketer
I try to always be prepared for the salary question, and I never sell myself short. I’ve called amounts that even in my mind, I was like, “Girl, you like money o”. But no recruiter has laughed at me. They only either try to negotiate or tell me what their budget is. Also, pray o. Prayer works for me, and if it’s your thing, there’s no harm in trying it before any interview or salary negotiation.
*Some names have been changed for the sake of anonymity.
Times are changing, but we all still need to make money. Because some people seem to figure out how to cash out faster than others, we’ve gone out of our way to find and question them. They told us these seven careers are sure money spinners.
Prayer warrior
Don’t you know that prayers work wonders, and it can be a full-time job? If you had a new naira note for every time a rich Nigerian answered “Na God” after being asked for the source of their wealth, you’d be rich too.
Content creator
How many Instagram posts of content creators buying Benz and houses do you need to see before you know you should drop your 9-5 and start making skits?
Political influencer
This one will feed you, your family and your village people. The only thing you have to give in exchange is your conscience. Small price to pay.
POS attendant
Tech bros have nothing on POS attendants now. The one and only bureau de change that deals in naira to naira and takes a huge cut. How can you not respect their name?
Being in a relationship
Relationships are lucrative right now, but you can’t have a vanilla label like boyfriend or girlfriend. That’s too basic. You either want to be a glucose boy or a soft babe. Who wants to work for money when someone else can pay you to date them?
Hard work
Ask every single Nigerian billionaire what they did, and they’ll tell you they worked hard. Maybe it’s time you started working hard too.
Gift vendor
We heard they made bank on Valentine’s Day, but that’s not all. They make bank every day of the year. People want to impress their partners with gifts and need vendors. Step in and get the bag.
Owambe hypeman
Who wouldn’t want to praise people at a party? They’d spray you with loads of cool cash just to hype them up while they dance away their savings. Why would anyone choose a regular 9 to 5 over this.
Every Tuesday at 12 p.m. WAT, Zikoko will share the hustle stories of Nigerians making it big in and out of the country. With each story, we’ll ask one crucial question in several ways: “How you do am?”
Hustle is a brick, solid word that chased me through childhood. Whoever was hustling was someone to be like. They were grinding, “putting food on the table”. The hairdresser with the matchbox shop behind my house was a hustler. Each month when I went for my hair retouch, her shop was full of women who had problems with their hair or their men — and they all paid for her time. The barber across the street that married my aunt was a hustler. He was one of the first to get a Tiger generator on the street.
Hustle is a word that grows with you. Once it’s big enough, it climbs on your lap and holds tight, forcing your attention on it. “You must do me,” it says. Because you’re an adult now. And it knows what adults do to feel like adults. You must hustle.
I felt the weight of hustle for the first time after university. I’d just graduated with a second-class lower, unsure what to do next. I knew what I wanted. I’d felt my mouth water when I found a good sentence in a book enough times to be certain my life would revolve around books. But with a dad at home waiting for the fruits of his 20-year-old labour and a degree that questioned my last four years, I didn’t know what my next step was.
You’ve probably had a phase where you didn’t know what to do. Deciding what to have for breakfast, whether to chase a master’s or stay at your job, japa to an unknown country for better alternatives or stay where you’re comfortable.
Tega was thinking about this problem when she decided we should talk to people who were having trouble making career decisions — who specifically didn’t know what to do when they were interested in a field or wanted to move to a new one.
Contemplating how to own a rice farm, produce a movie and open a craft beer company in one year
How do you start a food business in a new city? How do you become a Nollywood star? We’re speaking to people who’ve done it and creating helpful guides using these conversations, for you.
Read the first story when you click this
Hustleprint stories will drop biweekly from today, Tuesday, January 31st, 2023, at 12 p.m. WAT, and Hustleprint guides will drop in the interim weeks.
So you can follow each drop, Hustleprint will be published in our money newsletter.
Every week, Zikoko will share the hustle stories of Nigerians making it big in and out of the country. With each story, we’ll ask one crucial question in several ways: “How you do am?”
Jemima Osunde is a 26-year-old physiotherapist and actress. Fed up with the chaos of medical school, Jemima decided to pursue acting on the side. She called her big break pure luck, but through her story, we found out what it’s like to hustle as a newbiein Nollywood.
Jemima Osunde – Hustleprint
So Jemima, how did you do it?
I always tell people acting happened to me randomly. Physiotherapy was what I wanted to do. Things started in my first year at UNILAG in 2013. Post-JAMB messed up my grades, so I took a diploma program to get into 200 level the next year. Anyone who knows what UNILAG’s diploma is like knows it can be chaotic.
How chaotic was it, on a scale of 1-10?
Hmm. We’d be like 200 in one hall with no power. Lecturers would yell at the top of their lungs at the front of the hall, doing their best, but only the first 50 people could hear them. The rest of us were just there to sign attendance and fulfil all righteousness by being there.
So it broke the scale?
LOL. Yeah.
I did that for a few weeks and knew it couldn’t be my life for the rest of the year. That Christmas, I was at an uncle’s party, and we talked about how school was going. He suggested I consider acting since I was always talking everyone’s ear off. He felt it was a good way to make some money or just occupy my time.
What did you think?
It made sense actually. His words got stuck in my head for weeks. And after my next horrible day at school, I decided to experiment with acting while I was trying to get into the College of Medicine for my second year at UNILAG.
What was the first thing you did while experimenting?
I started following Nigerian production houses on social media and discovered that they usually posted open audition calls. It just made sense to me that to start acting I had to audition for roles, so I followed everyone from Africa Magic to EbonyLife. I followed producers too; from one producer’s page, I’d find another to follow.
Then, I followed young actors of that period. When I started, there was Olumide Oworu, Owumi Ugbeye who’d been on MTV Shuga — I just kept following everybody so I’d see every audition notice going out. Even though I didn’t immediately get roles, I learnt a lot from attending auditions and mingling with other aspiring actors who knew more than me. They’d give me the gist on what to do, what to look out for, who to meet and so on.
How did all of that play out in landing your first role?
I saw an audition notice for Tinsel in 2013. I didn’t get the part, but I got called back for Africa Magic Original Films [AMOF].
When I saw the email, I actually thought it was a scam because I hadn’t heard of AMOF or attended an audition for it. I had to call one of my uncles in the industry to verify. Then I had my mum come with me for the first few reads — till today, crew members at different sets still ask me about her.
I worked on five or six AMOFs. And through them, I got on The Johnsons, guest-starring in a few episodes as the character, Abby. These first few acting experiences were an exciting adventure for my mum and I. My parents used to drive me around to set locations.
What would you consider your big break into the acting industry?
MTV Shuga in 2014. I was 18 at the time so bagging my role as Leila on a show that big at the beginning of my career was significant for me.
How did that big break happen?
One of the actresses I followed at the start of my career and I were working on a film together. In passing, I said I really liked her character on MTV Shuga, and it’d be nice if it had a new character I could play. Like two days later, she texted about an audition and asked me to send my details to an email address. I did that, got a reply and went in for a reading. In a matter of three or four days, I was cast as Leila.
Just like that? Did you have any formal training as an actor?
No. Honestly, I was lucky.
That’s pretty much how things started for me. I only had to do three or four open auditions after Shuga.
Wait first. How was school going?
For some reason, most of my auditions were in Surulere, Lagos, so it wasn’t hard to go for them from the College of Medicine. Max, one bus, one okada, and I’d be at any casting.
It sounds like you were living a soft life
LOL. Not on the days I had to find my way to Ikeja or Lekki though. I’d get to Ojuelegba underbridge and be clueless. Or sit in a bus and wait for it to get full before my 10 a.m. call. That’s when I started to get frustrated. I had to beg my parents to drive me to auditions until I could afford to take Uber.
What’s the average amount of time you’d spend on set?
For movies, two weeks at most, and I’d be on set ten out of 14 days. We’d shoot until we stopped, which meant several hours of shooting per day.
Only Shuga took longer than a month to shoot. I was in one season each, on the Naija version and on Down South. I was on set every other day for three weeks for the first, and in Jo’burg for five to six weeks for the second.
How did things change after Shuga?
I kept grinding in between filming. I had a 9-to-5 as a researcher at One Music, and I was still a student at the College of Medicine. It was really hard to keep up. I was also just figuring out my life as a teenager, making friends — which didn’t quite work out because I don’t have many friends. Then I was always sending emails and DMs to every big director and producer I admired, even Shonda Rhimes!
But I got to a point where people would send me emails asking me to audition. A few months after we finished shooting Shuga, one of the producers cast me in her short film. Some months after that, I got calls from people I’d worked with on the set or I’d emailed earlier, who realised they had a role I was a good fit for.
I moved from needing to attend open auditions to being invited for table reads or screen tests. Instead of walking in with 500 people hoping to get a role, I scaled through to a more selected phase with maybe 20 people.
Were the chances of getting a role much higher in a table read or screen test?
Pretty much, but other upcoming actors get this access too. That makes it more competitive because you have to show what makes you special. Like why should it be Jemima and not the 20 other girls they know could play the character well too?
And did you have an answer to that?
For me, it was talking to the right people. People you work with mention your name in the right rooms.
Every time I got on set, I made sure I interacted with the crew members, not just the actors. There’s a vast amount of knowledge you can get from them because production typically uses the same crew. These people have gone from one project to another amassing experience. I always stress them out with questions about things like cameras and lenses. And that’s one way to get informal training.
Imagine being on a set with Kate Henshaw or Stella Damasus and not learning anything. I don’t have any shame in asking for help when I can’t connect with a character, for example. I remember meeting Adesua (Etomi-Wellington) on the set of MTV Shuga. We instantly clicked, and she’s been a strong support system ever since. She saw I was a young girl just trying to navigate the industry and could sense my silent cry for guidance, so she took me under her wing.
She was fairly new to Nollywood, but she’d been doing theatre and a bunch of creative projects in the UK. She’d ask things like, “What do you think should be a priority at the beginning of your career?” “What are you trying to do?” and just genuinely be a friend I can call anytime. It’s necessary to surround yourself with good people who’ll keep you grounded and remind you of your purpose even when you forget. That’s who she is to me. Our relationship has just evolved and metamorphosed into many different things over the years.
I don’t think I could’ve come this far without the older women in the industry TBH. They tell you what they went through in old Nollywood and ways to skip all the stress.
And younger actresses?
There’s a bunch of us that know we fall into the same criteria. If they’re not casting me then it’s Sharon Ooja, Tomike Alayande, Ini Dima-Okojie or maybe Efe Irele and a couple of others. It’s an unspoken thing, but we know ourselves. When a job comes, and one person isn’t available or interested, we refer each other.
How do you manage the competition since you all fall into the same category?
Being friends helps. My girls know how to stick together. And to make sure no one is getting the short end of the stick when jobs come. We know that for certain gigs within a certain duration, there’s a flat rate. No one goes below it. We basically set the standard for ourselves.
Beyond networking, what skills did you have to pick up fast as your career took off with MTV Shuga?
Omo, so many things. I didn’t get a representative until 2020, so I had to learn how to multitask on a large scale. Sometimes, I had classes from 8 a.m. to 1 p.m., with a call time at 2 p.m. and Lagos traffic to beat. So if I allocate one hour to something, and someone shows up 30 minutes late, that’s not my business. In my head, I have 30 minutes left. Till today, I’m still my own manager.
With the way things were going, why not just focus on acting?
In Nigeria, acting can’t be the only thing you do for income and fulfilment. How many good films do we make in a year compared to the number of actors we have? You can’t be busy from January to December.
Fair point
Yeah. Getting to MTV Shuga took a year. For me, it didn’t feel like such a long time because school kept me busy. If acting were all I had, that would’ve been difficult.
What happens when absolutely nothing works?
That happened to me during the pandemic. I had to find ways to keep myself busy. That’s why I started a music trivia game on Instagram. But I also tried to get roles on TV series so I could shoot weekly, like a monthly subscription to being an actress.
Let’s move to the medical side of things. Are you currently practising?
Not for the past two months. I finished my NYSC in the first quarter of 2022 and took a break. Medical work in Nigeria is the ghetto. If you know people in the medical field, check up on them. Na them need mental help pass.
LOL. What’s doing them?
It’s so much work for such little pay and zero recognition. I’m at the point where I want to do it voluntarily, pick a few hospitals I’ll work at on the days I’m not filming. But for now, I’m on a break.
I’m curious: how has being a health worker made you a better actress?
Outside handling financial stress, the toughest part of being a health worker is seeing people die every day. Somehow, that’s helped me get into character without being so attached to the trauma I play, since it’s all fiction. It’s much more difficult when you actually know the person in reality.
And how does it work the other way around?
I’ve never thought about that. I think acting makes me a lot more sensitive and empathetic. Treating someone is very different from being able to become that person in your head and possibly picture your life like that.
Best in acting
LOL. So even when I want to lose my cool with their family members — because patients are never really the issue — I can somehow put myself in their shoes. I guess that’s one of the ways being an actress helps my medical career.
How do you manage to keep both careers apart?
I don’t keep them apart o. My self-given nickname is “one true self”. I’m an acting physiotherapist, doctor-actress, health worker-entertainer, whatever version people prefer. I’m one person living the best of both worlds, that’s what makes me who I am. I’m currently doing a Master’s in Public Health, and people like to ask me what I need it for. I don’t have an answer for them. They should just watch and see.
And how do you handle people recognising you when you’re in hospital mode?
I actually prefer when people recognise me in the hospital than outside, on the streets, in the supermarket. It helps me cheer my patients up. It makes it easier to find a common ground with them, which is important in my line of health work. Apart from that, I’m a very public but private person. You’ll see me banter a lot on Twitter, or post random things when I’m in my lover girl stage, but I’m very deliberate with the details I share.
What’s a trick every newbie needs to learn in the film industry?
Characters become more challenging when you realise they’re not fictional. Anyone can read a script and have a flow. But sometimes, you have to create a backstory that helps you connect more with the character. That’s not something on a script. And that’s what some directors tell you to do, to actually become a character.
What were some roles that put you to the test?
There was Nkem, the sex worker I played in The Delivery Boy in 2018. But one of the toughest characters I’ve played is Ranti from Rumour Has It in 2016. The babe was mean and controversial. I couldn’t play her until I could come up with a reason why someone could deliberately publish horrible stuff about their friends on a blog. Though there’s no justifiable reason to hurt people, giving her a defendable backstory helped me embody her character better. And that process makes it easier to get into challenging roles.
I have to ask: what does it take to get to the level you’re at in the industry?
Quality over quantity of films you shoot. And that’s why you need an extra source of income. But the best advice I received as a newbie was, “Never be afraid to take multiple cuts.” Because even when you think it’s perfect, a scene can always be better.
How do you know when to stop then?
Sometimes, you just need to take multiple cuts to give the director different portrayal versions to choose from. You know when to stop by reading the room. People on set — the director, cinematographer, DOP — are very honest. If the cut is just there, it’d show on their faces. Or you could get a standing ovation because the take was just that good. You don’t have to wait for an ovation, but make sure everyone is satisfied before you stop. They’d even be the ones to reassure you that you don’t need another take.
Picture this: You’re excited at the idea of getting a salary and joining the 9-5 gang — or at least leaving house chores behind — so you decide to get an internship.
Get ready because you’ll likely experience the following stages.
Rejection
Wait, shouldn’t internships be easier to get? What are all these rejection emails in your inbox then?
The “for-the-experience” offers aka no salary
Yes, we know internships are for the experience. But try explaining to the bus conductor taking you from Ikeja to Ajah that there’s more to life than money.
The internships with the most ridiculous requirements
These ones deserve a special place in Ajah traffic. You want an intern who can speak seven languages? Just tell us you want to employ our Lord and personal saviour.
The ones with the sketchy job descriptions
You don’t need anyone to tell you that these ones want to either steal your kidney or collect the remaining ₦2k in your account.
You finally get the internship, but you actually have to work
Did you think internships were only for taking corporate wear selfies and filling a spot on your LinkedIn profile?
Starting new jobs can be scary. There you are, excited about landing your dream job, and suddenly you remember the important questions: will your boss have sense? Is there an affordable buka close to your job?
And probably the most critical question of all: how do you make a great first impression and prove to your bosses and colleagues that hiring you wasn’t a mistake? These tips will help you.
Don’t smile too much
There’s a big difference between a polite smile and a Kanayo O. Kanayo smile. Don’t come across as a ritualist, please.
Let them know you’re not here to play
When it’s time for handshakes, shake everyone for at least 5 minutes so they can tell you’re here for business.
Own a MacBook
Ever wondered why tech founders carry Macbooks everywhere? It’s because they immediately give you “big player” vibes. Get with the times.
Borrow an accent
Get a British or American accent and stick with it. Don’t go mixing them up sha o, so you don’t spoil your street cred.
So you can wow them with your knowledge of their personal lives when you get introduced to them. Some may say it’s creepy, we say it’s thinking out of the box.
Wear a power suit
If you’re resuming work remotely, make sure to turn on your video during meetings so they can see that you’re dressed how you’d like to be addressed — a boss.
Buy food for everyone
If you disregard everything else on this list, pay attention to this one. Quick secret, food is the only sure way to everyone’s heart. They can’t help but love you.
Most of us (read: certain Gen Zers) agree that capitalism is the worst and we wish adulting didn’t come with having to work.
Still, we still get stories about people staying at jobs they hate due to various reasons and we wonder, how long is long enough to stay at one job? Is there an acceptable minimum?
Here’s what these seven Nigerians think:
“I go where the money is, abeg”
— Lara*, 28
I’m too old to be forming loyalty at another man’s business. I stay loyal to you for as long as you’re paying me. However, I don’t actively start searching for other jobs within six months of a new one, but if something interesting happens to pop up, best believe I’ll take it.
I think one year is a reasonable minimum — I can stay more than a year, but I don’t do less than that. I figure that I need that time to learn new things, make a difference and work at advancing my career. It also helps to avoid potential recruiters thinking you’re fickle and might be a waste of resources if they hire you.
I have a five-year rule, mainly because I’ve spent most of my career in multinationals, and I believe this gives me enough time to establish myself as an expert in a particular market and rise through the ranks. It also shows loyalty, and when recruiters try to poach me, they’re more likely to come with very attractive offers in a bid to get me onboard.
“I never spend more or less than two years”
— Max*, 27
Two years is my minimum and maximum duration. I’m at an age where I need to pay attention to intentionally growing my career and finances, and I believe there’s a limit to how much you can earn in one place.
For instance, a raise on a ₦120k job will probably take years before getting to ₦300k, but you can get to ₦300k immediately if you can find a higher-paying job.
“Six months should do it”
— Crystal*, 22
I don’t think anyone should want to quit a job before spending at least six months there. Sure, there might be peculiar cases where the workplace is toxic, but think about your CV. Unless you plan to remove the whole experience from your CV, it might not be a good look.
“I move whenever I like”
— Joy*, 26
I used to believe that I needed to spend at least one or two years at one job in order to build myself as a professional, but one company made me change my stance. I worked there for three months, and they never paid me one full month’s salary — they kept paying in instalments, and no one had to teach me before I left.
I think this idea of needing to stay for a particular period at one job does more harm to the employee — do I really have to endure an employer’s excesses so that I don’t “spoil my career”?
If there’s one thing I dislike, it’s job stagnation. My mentor thinks three years is ample time to demonstrate growth and contribute significantly to team goals, and I agree with him. However, if you’re no longer aligned with the company’s goals, it might be time to consider quitting, even before the three-year mark.
Another thing is — if you’re sure you’re doing fantastic work and your team or company just doesn’t recognise it or makes you feel like you’re not doing well, throw the three-year mark away and move to where you’ll be respected. Life’s too short to be managing jobs.
*Names have been changed for the sake of anonymity.
You know that thing they say about Gen Zs having zero chill for any work-related stress? We spoke to 7 people and they shared the very moment they looked at a potential job and decided, “nah fam.”
“I could tell from the million interview stages that this job would show me pepper”
Ife*, 25
I’m not sure if almost every Nigerian recruiter attended a joint workshop to decide on the best way to torture applicants because so many of them play by the same book. I had applied for this interesting vacancy and was quite hopeful. Only to complete a pre-screening assessment, personality test and case study before even getting shortlisted. It was when I was asked to complete a mini work project that I gave myself brain and japa-ed. All that to possibly not even get an interview call-back.
“They wanted me to come for a physical interview”
Rade*, 24
First off, I’d done a preliminary interview with this company already, and they knew I was based in Ibadan. After the first interview, they invited me for a second at their head office in Lagos. Keep in mind that this was supposed to be a fully remote role. Imagine jumping bus to another state when there’s no assurance I’d get the role. I told them if there was no way I could attend the interview remotely, I’d pass. They didn’t reach back.
“They wanted to pay me ₦100k to bring in ₦10 million every month”
Temi*, 24
This happened recently. I went through the different interview phases of this big real estate firm on the island and was offered a job. Omo, see conditions. 8 a.m. to 6 p.m. every workday (plus Saturdays) and I would need to secure sales of at least 10 million naira every month. If I don’t meet the target, my monthly net salary would be cut from ₦100k to ₦20k. I dusted my slippers and told them thank you.
To be fair, I applied without conducting any research. Imagine the shock when I logged on to the Zoom interview to find five uncles on the call. I lost interest at that point, and I’m sure my answers weren’t matching the questions. I didn’t see myself working at that kind of organisation.
“It was honestly just the money”
Kira*, 22
The intended salary wasn’t stated in the job vacancy, and I didn’t ask during the interview so as not to appear unserious. After all was said and done, I got the offer and it was ₦80k. I live in Agbara. The office is at Festac. Adding transport costs and the stress, it just wasn’t worth it.
“I was sent to buy amala”
Ebuka*, 19
I still laugh when I remember this. When the ASUU strike got extended, my sister suggested I consider an internship with a family friend (he owns a private firm). I got there and had to wait in the reception area. Two minutes later, the secretary (who knew why I was there) waved a food flask in my face and asked me to go buy her amala. When I left that day, I told my sister I wasn’t going back.
“The application required a cover letter”
Praise*, 25
I think cover letters are a complete waste of time, and I often lose interest in job applications when I discover that they are required. It hasn’t stopped me from landing jobs so nobody should stress me, please.
*All names have been changed for the sake of anonymity.
Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.
What’s your oldest memory of money?
I was 5, and my mum gave me money to buy a crate of eggs – ₦1 coin. My own introduction to money was with coins, and this was in 1990. There was the 50 kobo coin. My boxed-up uncle used to give me whenever he visited.
What could 50 kobo buy at the time?
Yoo. Think about what half the price of a crate of eggs can buy a kid now.
What was childhood like though?
We used to get money for school, and I saved a lot of it to buy toys. It was a middle-class living in a good neighbourhood. Full-on Buttie – only English. Whenever we went to the markets, people used to say “una done carry this una American pikin come.”
Hahaha.
We weren’t elite rich but we were comfor – bro I had a skateboard. So, a middle-class family in the 90s that Babangida destroyed? That was us.
What do you mean “Babangida destroyed”?
For context, he increased the price of fuel four times. Still, for most of my childhood, I always saved. And it wasn’t from a need to keep money, it was just from a resource control standpoint. Our parents always told us not to be wasteful, you must finish the food on your plate. If you’re not going to finish it, don’t ask for that much. If you don’t finish it, you’ll die and come back.
Buhaha what?
My dad was chilled, but my mum used a spatula on my head more than she used it for Eba.
Ah. Anyway, what was the consequence of the economic dip in your family?
First of all, the dip became telling close to the end of the 90s. My dad had bought land and started building a house, but he didn’t have money for decking. We got a quit notice, somehow, and so we moved into a boys quarters. A room and parlour, beds came out at night and went back in the morning. My parents slept on one, my two siblings slept on another, and I slept on a long single bed. My parents stopped buying me clothes, so I had to start going to Yaba myself. I had that one shoe that was one size small.
Over the next decade, my hustle mode turned on. I stopped getting money from home. I even started to do what you’d consider shady things.
What?
I was selling contrabands to boarding school students because they couldn’t go out. I’d buy at a price, and then add my own price on top of it. Look, my life was boring, and I needed some excitement. I was consuming a lot of Western culture, hip hop and all. It was a complete opposite to my life, and I wanted to experience some of that shit. But I just wanted to do everything. I was doing well at school and rolling with the geeks. Also, I was in the choir at church, but I was betting. I was also playing ball in the area and knew DMX and Famous Five.
I got into Uni in 2004, the real rude awakening for me. By this time, money no dey. My dad was dealing with health problems. I was trying – wait, just before Uni, I did one small hustle.
What?
I realised that whenever WAEC was pasting centre numbers, the lists were always fragmented and incomplete. So, I went to WAEC office, bought photocopies of the complete list for ₦150. Then I went to one school where I’d see people go to the noticeboard and look out for people frustrated about not finding their names. Then I’d approach them like, “it’s not there abi? I have it here o, it’s ₦200”
Ah.
I did the first day, made like ₦2k, the second day, I made a little over that, and on the third day, the gateman sent me away.
Why?
I learned my first lesson about making money: understanding your fucking climate. If I’d been sorting that guy for ₦200-₦300 per day, he’d have even guarded me. So, back to uni.
Back to uni.
I was just so free. I was smoking like one pack of cigarettes in two days, but I was broke and couldn’t afford accommodation. Now, I was staying in a single room with four other guys – only one person actually owned the room, and it wasn’t me.
The room owner had a babe, and whenever she’d come at night and they want to smash, we’d have to go and wait outside. Then we’d come inside whenever they were done.
Hahaha.
That’s how fucked up my life was. Then I started floating in school – I’d spend the day in class, crash overnight and go to the hostel to shower. I did that for like a month.
I imagine you didn’t just continue this way.
Yeah, I got a job at a cybercafe. I was lucky because as a teenager, my dad already got us a computer – a Compaq laptop in ‘94, bruh. So I already had a thing for computers. Anyway, by early 2004, I collected my first salary at my first job for ₦2,500.
Ah, first salary. What else were you doing in that period?
Sooo, one of my friends was getting into music at the time, and I was quite enthusiastic, so I became his manager. He even recorded an EP, but we weren’t making any money. We were broke and it was hard. I’d drop money to print CDs and stuff, push into the music scene at the time and all.
I was doing all kinds of things, and still managed to maintain a good GPA. My last GPA was about 3.76, then my life changed forever.
What happened?
I got kicked out of Uni in 2008, my final year. Long story short, I was at the wrong place at the wrong time. It does feel like karma.
Wooaaah.
My parents didn’t handle it as badly as I imagined they would. Funny thing is, my dad actually had to leave his first Uni because he had issues with a lecturer and he had to go finish up elsewhere.
Anyway, I was back in Lagos, and I had this artist who I was managing, pushing my man into the scene. In all this time, I was writing exams to gain admission into other universities, and nothing just clicked.
By 2009, I got a job at another cybercafe where I was getting ₦10k a month. The best part was that I had access to unlimited internet. Then I discovered blogging. I started putting up my guy’s music on my blog, then I started charging other people to put up their music for ₦8k per song. Then management companies came too, and I’d charge them over ₦20k. Since it wasn’t frequent, I was making about ₦18k. I was still at my Cyber Cafe job.
Then I met this guy, a senior executive at an advertising company that was also working with entertainment companies. I somehow managed to secure a meeting with him, shared a breakdown on some campaigns and talent they were working with, and how I think they’d be able to manage them better.
He was impressed.
Loud.
Then he asked me, what can you do for us? I told him I could help them with artists’ PR and management. Before I left that day, he gave me ₦5k. Oh boy. I first went to eat at one buka. I eventually started working with him, and was able to save up to buy a used laptop for about ₦50k by the end of 2010.
That year had its own struggles.
What else?
I was addicted to weed. People in the hood had heard I didn’t graduate, and I was mostly on it to cope. It was depressing. There was that period in that year too where I was a sidekick on the radio, and was getting the occasional ₦200 or ₦300.
How did you beat the addiction?
I woke up one day, tired of the addiction. I read a story about how Gandhi cured his love for women by going to bed with women and not having sex with them. So I decided to go to where we used to smoke and sit with smokers for one month, without actually smoking. I did it for one month, and that was it.
Mad o.
Yeah. Anyway, being in the entertainment scene meant that I met a lot of the interesting people at the time, like 2Face. One of my guys working in another advertising agency was leaving, and was looking to hire a replacement.
I got a meeting with the boss, and they said they were going to hire me at first as an account manager. Basically, I was tracking everyone else’s output, uploading and stuff.
He asked me, “how much do you want to get paid?”
I said, “how much do you want to pay me?”
“₦20k.”
“Let’s do it.”
This was early 2011, and I just needed the job and access to the internet. Remember the other ad exec, he decided to put me on payroll officially. He paid me ₦35k – ₦55k from two jobs.
What were you doing at the ₦35k gig?
Helping their talent hustle studio time, booking events, writing press releases. At my ₦20k job, I moved to copywriting: ads, press releases and all that. I was enjoying it more, and in 2012, I ditched the account management gig and focused on my job as a copywriter. My salary climbed to ₦50k. Then I started getting a commission off the sales that I made. I was also getting bonuses from profit sharing at the end of the year. The highest bonus I ever received was ₦200k.
When I left in 2014 though, my monthly salary was ₦80k.
How much did the next gig offer?
₦300k.
Mad o.
I’d already built a reputation, and you know what’s funny? I actually left for for ₦125k, but as I put word out that I was leaving, I got more offers. Two of them were offering me ₦400k. I tabled it to the ₦125k people and they bumped me up to ₦300k. I took the ₦300k offer, and I’m glad I did. It wasn’t just an agency doing the advertising side, they were also a full-blown digital agency. I joined as Head of Digital.
Two months later, I got another raise to ₦400k.
Ah, how?
Someone on my team was about to leave the company, and he asked for ₦300k as his condition to stay. They gave him the raise, but then they didn’t want him to earn the same as me, so they bumped me up to ₦400k.
Over the years as I garnered more experience, I started taking some consulting gigs on the side around digital strategy. I was doing well enough that I could afford to get a place – my first place as a working person. I also bought a car.
Suddenly, all the things you panicked about in 2008 disappeared?
Fuck all that shit. At this time, I could take care of my mum conveniently. One time, she wanted to celebrate her birthday and I just sent her ₦300k. The problem at the time was that even though I had money, there was no intention going into saving and investing. Then I started dating my wife.
What changed?
My wife saved my life. She’s my anchor. She’s great with money, She made me take a course on Coursera where I learned about financial literacy. I do the hard hustling, and she does the planning of our lives.
That’s where I learned what you spend, save, invest. All the babes I was hanging out with it just wanted popcorn and cinema at the time, but she was the one for me. We’re married now. We moved. After our first kid, we moved again. My son was turning 1 and I needed him to grow up in a place that was safe enough for us to go on evening walks.
How much is your rent now?
First ₦300k. Then I started paying ₦600k. Now I’m paying ₦1.5 million. I panicked when I was about to move, but I quickly learned that I just had to save ₦125k per month.
Back to your salary.
I got a raise in 2018 that bumped me up to ₦581k. But I was entitled to bonuses that could bump me up to ₦1.2 million, but it never really came. In 2019, I started listening to offers again. One bank came with a solid offer to lead comms, but the amount of shirts and ties I had to wear ehn, I just cancelled.
I wanted more action, so I chose a role in a startup instead. This time, in Business Development.
How much did you join for?
₦1.8 million. My salary hasn’t grown since then, but I’ve gotten performance bonuses. The highest I’ve received at a time is about ₦600k.
What’s your current mindset with money?
You spend it, it comes back. Now, this is not on some careless shit, but I believe that the more I give, the more it comes back. I have ₦144k and someone came with an emergency and needed a ₦50k loan, I didn’t even think twice. Like, look at how far I’ve come and I didn’t die. Is it now a small inconvenience that will now kill me?
Looking at how far you’ve come, how much do you feel like you should be earning?
Double my current salary, for starters. I do a lot of work that I don’t get paid for, but I’m building my reputation.
What’s something you want right now but can’t afford?
I want to invest in companies with money that I can afford to lose – $5k here, $10k there.
What’s the last thing you bought that required serious planning?
I have three kids – two of them are adopted. I bought a Sienna so the driver can take them around conveniently. The family van cost ₦2.3 million.
When was the last time you felt really broke?
I always feel broke, bro. In fact, I never have enough money after I save all my money. I only always have like ₦200k in a month.
What do you wish you could get better at?
We run three small businesses, all these businesses were my wife’s ideas. My own ideas never dey commot money. I also spend a lot on education.
Tell me about that.
I’ve done some courses with a solid business school, and some other schools. I just finished a course in Project Management and am currently studying Product Management.
Do you have any financial regrets?
When I started earning well enough, I should have been saving more. But then, I’m glad it went that way because I won’t have experienced a lot of things. Money is good, guy. I still enjoyed it, but I wish I should have just saved more in dollars.
How would you rate your financial happiness, on a scale of 1-10?
5, considering where I’m coming from, haha. It’ll be 10 when I pay for life insurance and when I buy my house.
It’s been a wild couple of years.
I believe the universe is amoral, it doesn’t believe in good or bad, only happenstance. Being kicked out of school led me to all the choices that led me to where I am. At that point, it looked like my world had ended.
Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.
When would you say you first “knew money”?
I have always wanted to be rich since I was 10. I started reading newspapers at an early age, and I learnt about MKO Abiola’s money and generosity. I would write on my school notes the number of houses I wanted to build, the number and names of companies I wanted to start, the number of chieftaincy titles I wanted to have.
My mum came from a poor family somewhere in the South West. She always prayed (and sang when doing chores) to have children that would change her fortune. Even at that age, I was gingered.
Since you remember being so driven, what was the first thing you ever did for money?
I was not really a business person. I was a book worm focused on my studies, so I could get good grades and land a good corporate job after school.
My first job didn’t come until after I graduated.
Tell me about your first job.
It was more like an internship at an investment management firm. I got it a few weeks after I graduated. My CV was submitted at the company by a brother. I was invited for a test, I passed, did the interview, got the job. This was 2007, and it paid ₦50k.
I got the real job after NYSC in 2008. Oil and gas. This one first paid ₦163k, then ₦196k after a few months.
What did it mean to get into an oil company in 2008?
Let me take you back to when I graduated in 2006. The economy was booming. Banks were recruiting en masse, absorbing people. Any second class upper graduate could get a bank job as long as they passed the job tests and interviews.
The capital markets operators, including the firm I worked for, were also doing well. So it was a period of boom.
Now, I must admit I was lucky. Oil and gas was not an easy industry to get into. It was and still is fiercely competitive. I remember ExxonMobil would invite entry-level candidates, and you’d see a sea of heads at a test centre. The test would hold in at least three centres. All for less than 20 slots.
My good grades really helped me. I got invited to five major international oil companies in Nigeria — Exxon, Shell, Chevron and Total Upstream. I had a shot at downstream too. The first offer I got was from one of the downstream companies a month after my NYSC. I took it and settled there. That was my launch pad into the industry.
Tell me about how your income grew from ₦163k.
By the time I left the downstream industry after four years, I was on ₦330k per month. An upstream company offered me ₦500k per month and I grabbed it. A year later, my role was upgraded and my salary rose to ₦762k. The next year, I was on ₦869k due to inflation adjustments. A couple of promotions and cost of living adjustments later, I now earn ₦2.4m after tax and pension.
Love it. Between your first salary and now, what important life events have happened?
I got married almost 10 years ago and now we have three kids. My initial plan was to celebrate my 10th wedding anniversary with my wife in Paris, but God had another plan with Corona.
Another thing, I enjoy building houses, so I would say I have never stopped building houses.
This is interesting.
I started my first housing project in 2009, and now, I have completed five houses — four bungalows and a duplex.
As soon as I finish one, I move to the next. I’m very bad at keeping cash, so I prefer to spend my money on these projects. I love decent cars too.
What’s a decent car?
Well, I’ve used a Range Rover, Land Rover and Chrysler at different points. That’s my personal indulgence. I also travel for fun.
Tell me what an average trip looks like.
I used to do Dubai every other year but got tired. I like London and Paris. I love Scotland too. I have done the major cities in Scotland — Glasgow, Edinburgh, Aberdeen and Dundee. I have done Turkey. I had fun in Istanbul, but the time spent at Hilton Glasgow was my best ever.
A typical trip lasts between 8 to 14 days. I travel economy class, but I use top hotels just for the experience. I try to use Hilton because I’m building my Hilton membership points so I can get subsidised booking.
I just love seeing the flashy modern cities. I really don’t fancy all these historical sites people talk about.
What’s on your to-do when you enter a new city?
I love football, so if there is a popular football monument in the city I’m holidaying, I try to visit. So I’ve visited the Emirates, Stamford Bridge, Old Trafford, Dundee United stadium, Wembley and Etihad.
I don’t club, so that’s out of it. I do a lot of shopping though. I buy most of my wears when I travel. TM and Zara stores are two of the first places I look for in any city. When I travel with my family, we go out in the evenings for sightseeing. When I travel solo, it’s sports monuments and shopping.
I can spend as low as ₦800k when I travel solo to one country. If I do more than one country and use top hotels, I may do up to ₦2m. With my family, ₦3m. I hardly spend more than ₦3m.
Back home here. I’d like us to break down your monthly expenses now. Let’s use your last income.
I spend about ₦1.1m on loan repayments — about ₦500k from it is actually Ajo. I have some short-term loans, banks throw loans at you when you earn that much. I spend about ₦1.5m on school fees per annum for my children plus that of a family member’s child under my care. In school fees months, I cut other expenses.
I spend about ₦100k on household stuff. I have about 10 people on my payroll, from my mum to family members. I spend about ₦100k on that. I always have an ongoing project, and I throw at least ₦300k on that. I keep about ₦200k for regular expenses — from car maintenance to gifts — during the month. I save a very little portion, less than ₦50k.
That ₦50k, hmm.
I’m very bad at keeping cash. I’ve been working for 12 years, and I can count on my fingers the months in which my salary lasted till another month. It never did when I was earning ₦163k and it still doesn’t do now that I earn over ₦2m. It’s the weirdest part of my personal finance. I used to complain, but I’ve realised there is little I can do.
How do you fund your holidays?
Several ways. But mostly from lump-sum payments, like bonuses and 13th month received towards the end of the year.
Raising ₦800k to ₦3m is not difficult by the way. Most of those expenses up there are not fixed. I may decide to not spend the ₦300k project budget for three months.
And of course, I pay school fees only thrice in a year — January, April and September.
I also stagger my travel costs. If I want to travel in December, for example, I won’t spend all the money then. I can buy flight tickets in July, book hotels in September and by the time I travel in December, all the money I need are my shopping and feeding expenses. With this planning, it’s not difficult.
Let’s talk about projects. What type of projects do you spend on?
Houses.
I’m curious about the unit economics of building houses.
They are usually small houses that cost between ₦15m to ₦30m. Three are personal. Two of the houses are commercial. I only recently finished the ones that will be commercial, so returns have not set in, but I’m hoping to get the returns in 10 years. To be honest, I did not build the houses for immediate economic consideration. I see it more as a store of value. Together, the five houses are worth about ₦100m.
I think you have an interesting relationship with money.
Well, I wish I could be good at saving though, I don’t think I have had ₦5m in my bank accounts for over a month. I realised early in my career that I am bad at keeping cash, so I decided to spend on things I could see: houses.
There’s also me trying to help people within my means because I believe I am lucky to have such a decent job. I try to have fun too, as permissible by faith. Travelling is my main indulgence. Then cars. So these are things I spend money on.
I’m poor at investments too. If I invest in liquid assets, I can easily sell them and spend the cash, hence my reservation about it.
This is not necessarily the best personal finance strategy, but this is what I do.
Has this “lack of cash” ever backfired?
A number of times. I once needed a huge sum for an unforeseen family event, and they expected me to just transfer the money immediately or after a few hours. No one believed me when I said I didn’t have cash. I had to screenshot my account balance to convince a sibling. How much? ₦400k.
What comes to mind when you think about retirement?
Relocating back to my country home in my village and enjoying a stress-free life. Hopefully, I would have built more commercial properties and rent would be a good source of income.
My pension account balance is currently above ₦30m. Hopefully, it would be up to ₦100m at retirement.
I have a small side business too; a small consulting firm that is not yet profitable.
So, I’m banking on rent on my properties, pension and retirement benefit from my employment. One of the good things about the upstream oil and gas industry is its decent retirement package.
You could go home with as much as ₦100m after 25 years of service.
I also hope my saving culture would have become better before retirement, so I should have a decent saving balance.
On a scale of 1 to 10, how would you rate your financial happiness?
I would say 8. I am lucky to have a good job that pays more than ₦2m per month. It hasn’t translated to a heavy financial chest, but I am still happy at the projects I have done. Even more, the number of people that have benefited from it.
You know, I built one of the houses for my mother. Handing it to her remains the most fulfilling day of my life.
If you’ve been reading #NairaLife long enough, then you probably know I’m currently on the #JollofRoad, our West African road trip. Along the way, I’ve found all kinds of people. And what good is it if I don’t run into people and ask them about their finances?
The subject of today’s story lives in Abuja, where she works as a researcher, while still nursing a PhD ambition.
What’s the first thing, no matter how trivial you think it was, that you ever did to fetch money?
The first thing that fetched me money – this is actually a stupid story hahaha.
Hit me.
I was about seven or so. My mum had a hair salon, but she also sold drinks and snacks at the salon. Basically, you don’t have to die of thirst while you wait your turn.
We also got our daily supply of drinking water for the house from the shop. So one day, she packed about 20 sachets in a bowl for me to take home – the salon was about five minutes from the house. On my way home – literally ten feet from the gate of my house – two men asked if I was selling the water.
I said yes.
Hahaha.
And they bought two sachets. Voila, I had sold something. I dropped the water at home and hurriedly returned to my mum to tell her the good news. She just laughed and told me to spend the money on whatever. I think I bought chewing gum or something. I still think about it and laugh. Maybe I should’ve waited outside my gate for more thirsty people. Maybe I would’ve sold the whole bag.
I stan a baroness.
Hahaha, please.
Also, there was that time when I was 8. I went to my classmate’s party. My entire class had produced a dance and song for her, so we literally were the entertainment, minus the DJ and clowns of course. I think people were just in awe of us, so they kept spraying us money.
I just kept packing my own.
I stan a focused woman.
I probably made ₦200. But since it was the year 2000, that meant I was a rich babe. I eventually gave the money to my sister because she asked nicely. She wanted to buy Home Economics supplies and for some weird reason, she didn’t want to ask our parents.
I basically paid for her education.
Hahaha, when was the next time you earned?
It was an unpaid internship at a broadcasting station, but I was quite curious about marketing so I managed to work my way to that department. The work was annoying but with my boss, we were able to bring business into the company. So I got paid a commission. The three of us – my boss and another intern – shared about 15% commission.
I used that money to buy a dress for my sister and me.
Cute.
Then service year and the ₦19,800 per month. Most of it was spent on flights back home when I was bored of staying at my PPA. And food. I don’t think I had anything saved after service.
Oooh, did I mention that my mum and my siblings started a small business too?
That’s interesting. How did that go?
It was hard to pull off and funds were tight, but I got paid sometimes, never consistently though.
You get bonus points for effort.
After service though, I returned to school in a small town – postgraduate diploma. My mother wanted me to focus solely on school, so she told me not to bother with a job. It was really scary to me because I needed the money and didn’t want to ask my parents, but I kind of didn’t have a choice. There weren’t a lot of job offers there and I was a full-time student.
During your time there, when did you feel totally broke?
Can’t exactly pinpoint but there was a point after I paid my fees and everything that I barely had any money left. Legit started planning how to trek to school. Lived very close to the school so it seemed doable at the time haha.
When I wasn’t studying, I was checking new recipes online and baking. Speaking of baking, I sold cupcakes for a hot second.
I love baking. And I’d been doing it a lot at the time, but mainly for myself and family. So I thought to myself, why not make cakes and see if they sell? I also had encouragement from certain friends even without them knowing that I actually had been thinking of selling cakes. Bought a few cake mixes and I baked about two 8-inch cakes and cut them up in slices to sell at school.
How did that go?
Not very well, because it didn’t make sense to university students to buy cake slices/cupcakes for ₦300 apparently. There were always complaints about it being too expensive. So I stopped after the first two batches.
Ouch. Back to depending on allowances from home?
Yes. Honestly, I was really desperate to do well in school so that’s where 80% of my energy went. I didn’t have any type of social life; entertainment was mainly from the internet and old movies on my laptop.
Anyway, I got my diploma in February of 2017. Then I started my MSc that same month.
I’m making plans to start a PhD soon. But I’m also trying to take the time to get more work experience and explore my hobbies. I’m no longer dying on the “PhD before 30” hill.
Why though?
Honestly, I’m not sure. Nobody really tells you how mentally draining school can be. I just have to feel like I’m prepared and in the right headspace to go back to school for another three years. Right now, I just don’t feel like it.
Another reason is funding. I want to breathe the abroad air during my PhD. I need a brand new experience with life.
So you’ve gone from trying to pass to trying to get cash. How’s that been?
Not the best, but definitely better than being totally jobless and biting my nails. I got a research position at a friend’s company at the beginning of 2019. The pay wasn’t too great but I learnt a lot. The job was contractual so it ended after six months.
How much did this pay?
If I was able to work for eight hours every day, five days a week for a month, I would make 100k – on a per hour basis. But I never made up to that because there was always something or the other. For example, I had to travel sometimes, my laptop failed me sometimes, and I flat out didn’t have any work at certain periods. I had a time-sheet to fill and if I didn’t work, I wouldn’t get paid. My average was 60k.
So, the gig ended in July?
Technically, yeah. But then I stayed back for another very short term gig. That one paid ₦150k. It was for like a month so I finally left in August.
After August?
I didn’t have a job for a hot second. I was a bit relieved to be honest, even though I was broke. There was just this need to rest.
I feel you.
I spent the week after I left the office relaxing, reading and just trying to figure things out. I started transcribing for people in the meantime while I applied for other jobs – ₦250/300 per minute. Not great money, but it’s better than nothing.
Thankfully, I just secured a research assistant position. Not permanent, but definitely worth it. Tbh I’m curious about learning new things so I’m kind of excited about this new position.
How much is it paying?
₦120k
Since you haven’t yet earned your ₦120k, how about you breakdown your ₦60k for me and what you’d normally spend it on?
This is hard. I don’t track my spending in a meaningful way, but let’s try.
I save, but the money would go if someone close to me asks or is in need. I never actually find myself saving long term. But I’m trying to change that.
Where’s your relationship with money currently?
I don’t know. I guess with money, I learnt contentment pretty early. I do like money, like a lot. But somehow when my needs are covered, I tend to relax a bit. But I have more needs now, well more desires and hopes. And I kinda need money to reach those goals. So I’m beginning to reevaluate my relationship with money.
The older I’ve become, the more I hesitate before I spend money, especially on myself. I don’t know why, but there’s always this really confusing voice in my that tells me it can be used for something better. Maybe it’s like that for everyone. Maybe it’s not even a weird relationship at all.
What do you honestly feel like you should be earning?
Well, currently if I were working at my dream job with the level of experience I have, I’d probably be earning between ₦250k to ₦300k. There’s a chance to grow and earn better. I’m passionate about gender and promoting peacebuilding and I’ll like to work in an organization that promotes and focuses on that.
What’s something you want but can’t afford right now?
A new car, and PhD tuition. In my dream school, initially, tuition is about 11,000 CAD. Subsequently, I’ll pay about 750 CAD. But then, there’s the ticket and visa and the other travel-related costs which I’ve been avoiding researching because I don’t want my heart to break finally. Second dream job? University lecturer. I think academia will push me to be my best self. Either that or it’ll completely break my spirit. I’m willing to find out sha.
Do you have any emergency plan for when you get sick or stuff like that?
No actually. So here’s the thing: I never get sick lol. I’m very grateful for this. Maybe a little catarrh or something. Constipation lol. Nothing life-threatening Alhamdulillah. I realise now that I need a medical emergency fund. I can’t believe I’ve let myself flap in the breeze for this long.
What do you wish you knew about money a decade ago?
I wish I knew how to save better. 10 years ago l had just gotten into uni and I would either pinch through my allowance all month long or blow it in two days. No in-between.
What are your biggest fears about your financial future, near and far?
Right now, not being able to handle basic needs. In the future, not being able to provide or take care of my parents. I don’t know when I’ll start a family, but it’s scary as hell to think my kids will have to suffer because of my inability to adequately provide for them. I want them to have and experience things I didn’t. I also want to have a meaningful career that’s fulfilling financially and otherwise. Here’s hoping that those things somehow collide.
Rate your financial happiness, on a scale of 1-10.
3. I think too much before I spend money. It’s exhausting. You know that gif with the clueless lady and all the math formulas flying around? That’s me every time money leaves my account.
It would be nice to not think so much. To be able to afford to change stuff and partake in things without all the planning. It’s maddening. And to think people actually have it worse.
Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.
This week, it’s the first couple ever – they’ve been dating for about a year, and they’ll be letting us peek into their lives. They’re both 28 and currently earn ₦400k – cute coincidences.
Both of you are my first couple ever.
Them: Litttt!
Her: Let’s go!
Him: Oya oya.
When did you first clock that money is important?
Her: I think I was about 10. My father was the richest in the family. He was put on a kind of pedestal because of this. He wasn’t the firstborn or anything, but because he had money –
– He was the senior.
Her: Exactly.
Him: Mine didn’t start at home. I think mine was in noticing the differences between our family’s lifestyle and my friends in school. On holidays spent with my cousins, it seemed like they had everything! Why would a parent just take their kids to Mr Bigg’s randomly? Mr Bigg’s was an event in my own family. Is it your birthday?
Hahaha.
Him: My cousins were staying in duplexes, while we were living in a block of flats. They had their own bicycles and actual balls, instead of the usual roll-on balls that I played with.
Ahh, that.
Him: That’s when I started looking at it like hmmm, something is not balancing here.
Have both of you ever had this conversation?
Them: Nope.
Her: I’m just finding this out.
Him: I mean, I knew your father was rich, but I dunno how you turned out this way.
Them: Hahaha.
Her: We thought the money was going to be there forever.
About that forever part, what changed?
Her: My dad retired. When you retire from the civil service as a senior, you get a huge sum of money. I can’t say how much he got, but you start to get a sense when you think of the things he spent it on.
How old was he at retirement?
Her: 60. He decided to start a business, so he opened a cold room, bought himself a car, bought another one for my mum. An extended family member got ₦5 million, another got like ₦3 million – he was just distributing the money. He thought that money would come in from the cold room business.
Her: Meanwhile, I still had like 2 younger siblings in school. He didn’t think about that – this was 2015.
When did you know things weren’t great anymore?
Her: It was when my sister needed to go back to school, and there was no money to pay her fees. Things were already bad because he used to borrow money to restock. But this was when I knew “there’s no money in this house o. Everybody figure your shit out.” Then one day, he closed the cold room.
From cold cash to cold room, to… cold turkey?
Them: Hahaha. Wow.
Him: Next time your dad vexes you, say, “That’s how you went from cold cash, to cold room, to cold turkey!”
Her: Hahaha. You’re so rude.
I have a sense that you reached this realisation earlier.
Him: What happened in my case was a little different. I was still able to go to school. In fact, there was a time I used to go on the school bus. At this point, I didn’t know my mum was the one giving my dad rent. Unfortunately, my dad chopped the rent this particular year, hahaha.
Her: Hahaha. Chisos.
Him: The landlord evicted us. My mum didn’t have the money to get another place, obviously. We had to split up. She and my younger sibling had to go live with a pastor. Then I was living with her relatives, hopping from family to family.
Him: I went from “mummy I want to buy sweet” to an aunty saying, “oya stay in that shop and sell.” You learn very quickly after all this, that money is the key.
Where was your dad?
Him: He was all over the place o. My dad used to be much more stable. He reached a senior role in a financial institution – a good paying job for a man his age at the time. A true high flyer. But he was also really ambitious. So he resigned. He believed that there were even bigger opportunities for him in other places.
Him: The mistake he made was that he didn’t secure a job before leaving his current job. All of that was made worse by the instability of the early 90s, so getting a job was so difficult. By the time the job openings started popping up again, he started to get the “you’re too old for this role” feedback.
How old was he when he quit?
Him: He was 34 in 1992, and it was at that point my mum took over family responsibilities. She paid the rent, put food on the table, etc. He sold his car. My mum says that his jaiye-jaiye lifestyle made everything worse. There was no stability in all those years, and he was mostly absent. So by the time we were evicted in 1998, he was nowhere to be found.
I feel like you must have realised that she was running this race of responsibility and that the baton was eventually going to be passed to you.
Him: Yeah. That baton first touched my hand in university, when she couldn’t pay fees. My mum actually paid the first semester fees. But the second semester was a struggle. So we split it.
What does she do for a living?
Him: She’s a civil servant. The money wasn’t a lot, but civil servants always tend to have cooperatives or colleagues they can borrow from. It got to a point that she started getting bank loans, loans she’s still paying back till this day. These loans were supposed to help pay our school fees and deal with other responsibilities.
She opened a shop, even opened a second. But she’s not exactly great at business, so those didn’t work out.
But what changed the game for her was getting a degree – she entered the civil service with a secondary school certificate. But that degree changed a lot for her and for us because she got promoted.
Awesome.
Him: Back to the second semester, before the promotion. I started selling stuff in school and helping people sell stuff, anything to make some money. It got to a point where we had to start splitting my school fees.
Where was your dad at this time?
Him: Nowhere. It’s like all the men in that their generation were just missing.
Her: Oh, my dad was different!
Him: Was he there?
Her: Yes, he was. The nature of his job saw him get transferred from place to place, but he was always committed to family.
Have you ever had a conversation with your dad about a possibly different 2015?
Her: No. That’d be like talking to a wall. He made so many bad calls. In fact, he literally just showed up without telling anyone previously, “I’ve bought land and built this cold room”. Anyway, I’m not the oldest sibling, but I started working first. My first salary was ₦45k in 2015, so when my salary entered, my mum would ask that I chip in. After about three months, I just chipped in without her asking. It just felt like the right thing to do.
Let’s talk about both of you. Where were you financially when both of you started dating?
Her: Oh, I was Gucci, hahaha. This was about a year ago. I was earning 150k
Him: Omo, I wasn’t Gucci o, but I was earning 200k.
How are you earning more and struggling? Make it make mathematical sense.
Him: I’d taken a loan to rent an apartment- the apartment cost ₦450k. Then I took another loan to buy a computer. That set me back ₦90k every month. Both loans almost totalled ₦800k.
Him: Then there was the black tax part – ₦25k was the non-negotiable black tax, but a lot of the time, it was more. The only reason it wasn’t more than 25k was that I simply couldn’t afford it because of the loan.
Her: My own black tax was ₦45k a year ago. I’m giving the entire family money – dad, mum and two younger siblings. Currently, that tax has climbed to ₦60k. It climbed as my income as climbed.
What’s the highest you’ve ever spent on black tax in a month?
Her: ₦100k.
Him: ₦140k. I was earning ₦80k, and my mum had fallen sick. So I poured all my savings into that.
It’s interesting, but despite all of this chaos, you people still had time to fall in love. How far na?
Her: Abeg na hahaha.
Him: For me, I got to a point in my life where I just wanted to take things seriously. It started in the DMs then went to Whatsapp, then next thing you know, we’re going on a first date. On that first date, my account wept. At the time, I’d just paid for my house, and here I was, paying for a date. It was mad. A leap of faith.
Hahaha. How much was it?
Him: ₦11k – I still have the receipt. Thank God it worked out because that’s the riskiest ₦11k I’ve ever spent. I’m going to laminate that bloody receipt. Interestingly, most of our dates after tended to be cheaper. Did we even go to a restaurant after that period? Not for a while, at least till we started the new budget thing. So concerts, drinks and all that.
Budget thing?
Him: Yes o. No relationship without money. I was asking her yesterday about what she’d change about our relationship, and she said more money.
Her: Hahaha.
Him: Now we keep ₦20k aside every month for date night – ₦10k from each of us.
Her: That’s just date night because there’s other stuff like Friday wine or food.
Him: Date night is its own thing – a restaurant, phones turned off, just the two of us. The thing with money is, a lot of the time, you can do anything with the money you have. You just have to want it enough. We realised that we weren’t keeping that money aside, we weren’t doing it. But keeping it aside meant we had to do it.
What other money ties you together?
Her: A lot now, household stuff. I mean, I still have my house, I’m just at his a lot more.
Him: It could have been her house, but she stays with people.
What do you currently earn?
Them: We’re both currently at ₦400k.
Do you see your money as a unit, or separately?
Him: Both.
Her: Separately when there are personal obligations, like family. And together with most of the rest of our money.
It looks like both of you are in this for the long-term. Where do you see this in 5 years?
Her: Outside of this country for starters hahaha. We’re probably working remotely, earning more, living in a two-bedroom apartment, raising one kid –
Him: If you mean active as in, putting the money aside for that, nope.
Her: There’s a framework though.
Him: What just needs to align is the finances to make that happen. We’ve only just reached a place of stability, income-wise, that we can begin to think beyond our family obligations.
How do you manage bad financial periods? It looks like he does most of the running in your direction.
Her: Oh yes!
Him: She’s my glucose guardian. Most of the time, we can already tell at the beginning of the month, we can almost always tell who’ll be broke first. So subconsciously know who’s going to be supporting who before the end of the month.
What’s something you want but can’t afford?
Him: A phone, I swear. It’s not like I can’t afford it, but –
Her: He wants a Pixel 3a and the iPhone X.
Him: I’ll probably just buy the Pixel 3a, because it’s cheaper.
Her: I just want a holiday, a vacation. Like to Dubai.
What do you wish you could get better at?
Her: I think I could get better at not living my life like the weight of the entire family has to rest on my shoulders. I wish I could be a little more selfish.
Him: Erm, for me –
Her: Better say saving! Because you can’t save for shit.
Him: I think it’s saving, and then investing the savings. I’m just glad that the loan is now about to be over.
To be honest, she’s the financial manager of this relationship.
Any financial regrets?
Her: I bought a bottle of water for ₦1k.
Him: Hahaha, you actually bought two. I still can’t believe you did that shit. Something I think I really regret is that all my salary negotiations earlier used to be nonsense. For two years, I earned 80k, despite the fact that people employed after me were earning more.
Do you ever worry about ending up with your parents’ outcomes?
Him: I constantly worry about this, but I also think that my dad’s outcome is motivation for me – it’s a lot of what I shouldn’t be. I’m constantly thinking of how to make sure, at every point, that we’re financially secure.
My mum’s experience with loans is why I spent so much time researching options when I took my loan. My mum’s own experience was different because those banks will just come to the offices, make promises, and they end up brutal.
Her: I just generally think that their generation was different. So if my partner retires and gets a lump sum, we’re going to sit down and plan that money. But my dad was ‘the man’, so he could do whatever he wanted.
Him: My mum has this belief: “if you have money, spend it” and I used to hold that view before. But that’s changed. I now try to curb my spending urges.
Let’s talk about happiness, over 10.
Him: I always wonder how people think about their happiness levels. I feel like people have different exposures to the Nigerian element. So in the broader context of Nigeria today, I feel like a solid 7. I’m doing okay.
Her: Not bad at all. I feel the same way too.
Do you think about your pension?
Them: Yes oh.
Him: when I saw how much money was in my mum’s pension account, I started taking mine seriously. Last year, it was about 14-point-something million naira, and she’s done 20-something years in service.
Her: Senior civil servants actually get serious money when they retire.
What’s something you think I should have asked that I didn’t?
Her: Perhaps, what I want to do with my life? I worry about the next point in my career. I just know I want to retire when I’m 45, and by retire I mean become a lecturer.
Him: I think you should have asked about how I view my economic status in the Nigerian context.
Tell me.
Him: I realised that only a tiny fraction of people actually earn more than 80k. I don’t think you can be financially satisfied if you can’t see the through-line between what you’re responsible for, and what you’re not responsible for.
You can’t control the economy, for example, but you can control your investments and your salary negotiations perhaps. In that context, I’m doing great. Maybe if I change my salary to dollars, I can start weeping.
Don’t.
Him: I think a question everyone should ask themselves – and I’m throwing this to everyone reading this – how do you think of your economic standing in the broader Nigerian context?
This conversation has been condensed and edited for clarity.
Every week, we ask anonymous people to give us a window into their relationship with the Naira.
In this story, a lady talks about her struggles and it’s not just with money, it’s at the workplace.
Age: 26
Occupation: Customer Support
What’s the first time you made money?
It was in secondary school. Mumsy bought a lot of Chin-chin for us, and I got tired of eating them. So I repackaged it in smaller plastic bags and started selling it to my classmates. What was I using the money for? To buy Rice or Ewa Aganyin.
Next was when I was on I.T., earning ₦15k working HR. It wasn’t even the salary that was sweet, it was the weekend money our boss used to give us on Fridays. Like ₦2k when he’s broke.
I went back to school after I.T., and then lecturers went on strike. I was like, “what am I doing at home like this? I mean, I’m a badass cook”, so I just started cooking for people.
What was I using the money for? To buy airtime for my mummy. Buy data. Buy Shawarma. Enjoy my life. It was an almost effortless ₦15k in profit every month.
The strike was called off in 2014, but I was still cooking, but sparingly.
Did you have an allowance in all this time?
Well, since the time I brought a man home, my dad just stopped giving me money. My mum was still giving me when I asked, but my dad? No. When I asked, he’d be like, go and ask your man. Keep in mind, I started dating this guy in 2012. It’s not like he was giving me money steady, but anything I needed, he got me.
Also, he’d just randomly send ₦10k every now and then.
What’s the highest money he ever sent?
₦50k. I think it was the end of the year, and they gave him a 13th-month salary at the office, so he spread the love.
When did you finish school?
2015. Then I went to serve somewhere in the North Central. But I enjoyed sha, because I lived off Mammy Market in camp. Never ate from the kitchen. Buying everything buyable. I had money, from my mum, from man. My dad though, same old.
NYSC allowance was ₦19,800, plus another ₦20k allowance from bae. Although it wasn’t consistent, it came. My house rent and everything I got in the house, he bought for me. My mum too. But my dad? Deadest. Shi-shi, I no see.
I finished serving in 2016.
And?
I was jobless. And then, I decided to take the food business seriously. I took on a partner too, but we struggled and struggled. Orders weren’t consistent, logistics were tough.
Throughout that time, we didn’t exactly make money from it. We were throwing everything back into the business; buying equipment and all that. It gets exhausting though.
So, how were you sustaining yourself?
I got a customer care gig.
Ha.
Ha.
Ha.
That job showed me that sometimes, people don’t want you to grow. They really just want to use you. I was in desperate for a job, so I took it.
My salary was ₦15k and there was barely ₦7k at the end of the job. This was in 2018.
I think I lived like a pauper in 2016 and 2017. Also, I was going through shit with the man at the time. I became an introvert because I was broke, although I was getting handouts from my mum.
My dad didn’t give me a feeding allowance, so food came from when my mum cooked.
Broke. Depressed. Heartbroken.
Sorry you had to go through that.
It was in late 2017 I started looking for jobs. I was looking around HR, customer care, and general admin stuff. I even applied for teaching jobs but my mind wasn’t really there.
When I think about it, I probably didn’t hate the customer care job per se, but my mum was always on my case about it. She made me feel bad about it–the money and all. So imagine I was dealing with angry customers, and having to deal with my mum’s pressure at home.
So I quit.
Lucky for me, I got another gig as soon as I quit. The job description looked like it was going to be creatively stimulating. It was some tiny media company. I was going to be working with designers and doing social media work. Initially, I didn’t feel cut out for it because I didn’t have any background, but at the interview, my boss made me relax, telling me he believed I had potential.
I was glad that I got another job, until I wasn’t.
Trashy boss. The first thing that was off; he copy-pasted my job description from Google. Every single letter and full stop.
And then it appeared that they didn’t really have a sense of what role I was supposed to play. No defined structure. No procedures. They were all over the place.
There was also the part where he started saying he wanted to marry me. I think he just wanted to sleep with me, to be honest. Let’s not forget how he kept hammering on how religious he was.
And then at the end of the first month, I didn’t get paid.
How much?
I was supposed to be paid ₦50k. End of the second month, no pay. No explanation. By the end of the second month, I asked for an explanation for why I hadn’t been paid. My Oga said it was insubordination.
I quit a few days into the 3rd month. I just sat at home, told them I couldn’t afford to come. It took some shaming him, but he eventually paid me ₦70k. I think his method was to control people by holding on to their money.
After then, I was back to square one, jobless, except this time, there was a lot of debt. This was July.
Look at it this way:
You have ₦5, and you’re expecting ₦20. So you spend your ₦5, still expecting ₦20. Then somehow, you borrow here and there, and next thing you know, your debt climbs to ₦30. Then you pay back when your ₦20 comes, but you’re still in debt. So the cycle repeats itself. Your debt keeps accumulating and you keep living to pay off debt. That was my life.
I feel you.
I tried to get back to my own food hustle, and it seemed to be doing not so bad. Profit was like ₦40k. But then we started to remove ₦1k from the profit, then put ₦39k back into the business. Repeat. Currently, the money has climbed to about ₦120k. The goal is to build a base to have more capacity.
I didn’t get another fulltime job until November – a customer care job. At least that’s where I started. It has gotten a lot more challenging now though. I feel underpaid, maybe I am. The good thing is that the salary is paid consistently; ₦50k. It’s a food delivery business and I have to do a bunch of things. I also have to take everyone’s orders. I have to call up old customers to ask why they haven’t ordered. I keep up with everything across Social Media from Twitter to Whatsapp. I also send updates to partners of the business.
That’s four roles; Social Media Management, Logistics Manager, Customer Support/Retention, and perhaps some Business Development.
Chai. I’ve suffered. And I was thinking I’m working from home and enjoying. Enjoyment kill you there! 20 calls a day – and that’s on a Sunday.
You work Mondays to Sundays?
No days off. Except on public holidays. I have to reply to every message. I have to call back every missed call. I have to apologise to customers when riders mess up an order.
What are you thinking right now?
The only thing I need to do is to start looking for better opportunities. Initially, if I knew I was going to do this much, I won’t have accepted the offer. When the job got overwhelming, I complained to my boss. He told me to find someone else, then they’d have to reduce my salary to pay the other person.
Maybe all of this is because it’s still a small business. But still.
Wait, are there remote jobs that can pay me as much?
What is ‘much’?
At least ₦150k. I’m not even asking for too much. The only reason I want a remote job is that I really want to grow this business too. I need it to grow. But who will pay me that much to work from home?
Between 2012 and now, what has changed about your perspective on money?
I don’t want to have to be dependent on someone before I can spend money. I don’t want to have to think, “If I don’t see this person, I can’t have money.” I want to be able to say, “I earned this thing, and I can do with it as I like.”
When I was collecting money from my mum, I kept getting the “What did you use it for” question.
There’s the comfort that comes from having your own money. So now that I’m working, I really just want to have money and be free to do as I like with it.
There’s just this thing–I don’t know the word–this thing that comes from having your own money.
Let’s do the breakdown of your monthly income.
I don’t care what the problem is, but once my salary enters, I just go out and buy food, just to eat and feel alright. Sharwarma or Ice-cream, I must buy something for myself. I never take it home, I just sit down there and eat it. Last salary, I went to Coldstone, bought the buy-one-get-one-free.
I finished the two in one sitting.
Do you have a sense of direction for where you’re headed?
I do now. I want to be a community manager. I have a background in hospitality already. I have some experience in HR, customer relations, Social Media Management. I’m reading materials online, but mostly free stuff.
But it’s hard juggling courses with my current job. I’m constantly replying customer messages and requests pretty much every hour I’m awake.
Looking at where you are, how much do you think you’d be earning in 5 years?
I don’t think my income should be less than ₦500k. Then if my business actually gets off the ground, ah. Can you imagine how much The Place makes in a week? In 5 years, I want to be doing The Place’s volume for one of their restaurants. Food business is super lucrative. Once you have great food and sometimes, great connects, you’ll blow.
Even those that cook trash, people still dey chop.
Back to now, how much do you think you should earn in salary?
Doing all those things? Just gimme ₦200k. At least.
What’s something you want but you can’t afford?
I want to buy my parents a house. Obviously unaffordable. I hate where they currently live, with passion.
When I pay all my debts, my primary goal is to save a quarter of my salary till I can afford to buy land or something somewhere, so they can finally feel a sense of ownership. Everything else I want but can’t afford doesn’t feel super important. Like a car. Or a really good laptop. Or a great phone. Or a camera for taking good photos.
What’s the last thing you bought that required serious planning?
A Bluetooth headset. It wasn’t even funny at all. I think I prepped for like 2 months to buy it, and it cost ₦6k. I took that long because I just had a lot of things to do with money. And even though it was important because of work, it still wasn’t high on my priority list.
Do you have a pension plan or health plan?
Nope. Ah. I hate falling sick. When I start having symptoms, I’m always in denial, because I can’t even spend any rubbish money on hospital bills. I go rugged am, so I don’t have to go to the hospital, because feeling sick means I have to spend money.
There was a time my ear was paining me seriously, and I had to go to the hospital. I didn’t want to go, but the pain was too much.
But when I collected a card at the hospital, they charged my ₦5k. My chest. Then tests, they said I should pay ₦25k.
I dunno how the ear stopped paining me o, but I didn’t do that test.
How would you rate your happiness levels?
Over 10? 10.7. I feel really am content. I don’t have much, but I’m content, especially when I think about where I used to be.
But I feel the full weight of all the responsibilities now. I’m no longer a child.
Damn.
Check back every Monday at 9 am (WAT) for a peek into the Naira Life of everyday people.
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Every story in this series that you’ve missed, find them here.
If you’ve been reading this every Monday, you know the drill at this point. If you haven’t, now you know that Zikoko talks to anonymous people every week about their relationship with the Naira.
Sometimes, it will be boujee, other times, it will be struggle-ish. But all the time–it’ll be revealing.
When do you first feel like you truly understood money?
It was actually recently. Someone hired me to do a job and he hasn’t paid me. This guy has money oh, but somehow it clocked for me that money is money, but value is subjective. Like, money and value are not always equal. Most importantly, there’s the part where I realised that for your account to increase, someone’s account balance has to reduce.
That’s an interesting start.
Even if I remember the first time I made money, I’m sure it wasn’t hard. I always used to be like, “if you deliver value, the money will come.” It’s not that straightforward anymore.
I had opportunities when I was in school, but I enjoyed doing those things so much that I did them for free.
Then NYSC started, and I was getting broke too easily. That’s when I told my friend, “yo, I can do anything. Just holler if you need anybody to do anything.”
Just around that time, a bunch of guys were building a business, and they needed someone to do motion graphics. My guy hooked me up with them.
They were like, “can you do it?” and I’m like, “sure why not?”
Bruh, I’d never done that shit before. I had no experience in design or Motion Graphics. We had that conversation on a Monday, and I sent it in on a Friday.
They loved it so much that they invited me over, and gave me the full gist. Someone had actually hired them to do a job, and they had outsourced that part of it.
So now, all three of us went to meet this person, as partners, and he paid us 60k. It really was a big deal. Bruh, we actually took a photo with the cheque.
It’s also how I learned design, someone needed something done, so i just winged it and learned till I delivered.
How did that business go?
We had a good run, but there were too many forces pulling me away, so I succumbed, and I had to leave.
Forces?
Yes. We weren’t in a major city where all the action was happening. Plus, other forces like family and friends were pulling me back home. I vaguely remember, but we didn’t make a lot of money with that business in the short time we worked together–maybe 400k? But we had a good time while we were at it.
So you mostly survived on NYSC salary?
See, the best way I can explain my financial life is this; I don’t have money o. But I always have money.
Also, this might sound weird, but there was this beggar who had a baby. When I think about it now, if I had only 200 naira, I always made sure to give her 100 naira. As long as I see her. I was probably giving her out of selfishness, to be honest. Because weird thing, but every time I gave her money, someone always calls me to dash me money or pay me for something. I swear.
But anyway, where were we?
What happened after NYSC?
I stayed behind about six months, then I left and returned to Lagos. I got a job almost immediately. This was at the end of 2015. I started at 80k – net was 73k. I joined in November and I didn’t have a lot of needs, so it was a lot of money at the time. But next month? That was the real hit.
What happened in December?
One of the friends I’d already made in the company told me something, “Guy, go and borrow money you know you can’t afford to pay back.” And I’m like, what’s the guy saying? And he was like, “you go soon find out.”
The next week, I got an “end of the year” bonus–500k. After working for only two months. Bruh. I remember sitting inside keke, in the middle of two people, looking at them left and right, and saying in my head, DO YOU PEOPLE KNOW HOW MUCH I HAVE? ARE YOU JOKING?
Of course, I was super chill outwardly, but I was ecstatic. I saved it though, because I didn’t have any need for it.
It was also a time that my work required a lot from me that didn’t make side interests easy, so I shut them out.
So, 2016?
I was collecting my 73k, but now that I remember, it’s like most of it was going to Amazon. I liked to buy fancy stuff for my girlfriend at the time, like scented body wash and stuff like that. I’d just buy and ship.
Smack in the middle of the year, I got another bonus and gbas; 650k.
Is there a structure to these bonuses?
We thought there was, turns out there wasn’t. I was saving most of it anyway, so I was good. It was a quiet year, doing my work and minding my business, but by the end of the year, another bonus gbos; 1.2 million. I wasn’t expecting it. Them no dey expect that kain thing. This was in December 2016.
This was also the time I thought it’d be great to do something with all that money. So I convinced my mum to buy a car from someone–cost about 1 million. Then I bought it off her and had to pay in instalments. The goal was to use it for Uber. Do you know what’s mad? That car actually cost me 1.4 million, instead of 1 million. That extra money came from getting the car to the best condition possible.
I think this was when my downturn with money started.
I think I made only 180k from Uber. It was on and off the road–terrible investment. So by December 2017, I sold the car to someone that I sometimes feel guilty about selling to, even though he was aware of the car’s condition.
That was also the time I decided to move out of my parents’ house.
Ah, that.
The place I got was 650k. But you the Landlord wanted me to pay 2 years, so it actually cost me 1.4 million. And that was the first time in a very long time I felt like, “oh shit, I’m burning through all my cash.”
Still, I went for Umrah that December. I just felt like I needed it. This one cost 800k.
How did you fund your December?
Oh, I got another bonus – 2 million – so it made all of it easy.
Also – I wish I tracked this but – I spent close to 600k to get my house to living conditions. I bought my TV for 360k – it was a Black Friday sale – then I spent the rest on painting for the house, bed, fittings and other stuff.
Sha, at the end of that period, it felt like I was back to zero. At the turn of 2018, the office decided to increase my net salary from 70-something-k to 90-something-k, which is ridiculous, but okay.
It really does feel like your real salary comes twice a year.
The reality of this started setting in at the beginning of 2018. I’m like, how can I be collecting 90k a month? It’s been three years, and that was when I started to think properly about my growth within the company.
I mean, there were occasional bonuses that still came here and there. They’d come like twice a year and bring another 200k. The problem with all of it was that you couldn’t plan around it.
Wait, what company was this?
It’s a services company running a very lucrative business by Nigerian standards. The company has cash, there just doesn’t seem to be a proper structure. Can’t tell you the name 🙂
Anyway, I got 650k again, middle of the year. At this point, it was boring. There was already a shortfall for me that when the 650 came, the money felt like “are you joking” money.
To be honest, I want to quit, but I haven’t garnered enough courage to quit. I just need a financial justification to do so, like when my side hustle can sustain me without my 9-5 salary. I feel generally disenchanted with the whole 9-5 system at this point.
Did I mention that I bought a car? That made me completely wrecked. Only reason I could even survive paying for that car was paying instalmentally.
Anyway–
–End of the year bonus, 2018.
2.5 million. I pushed like 1 million into a project. Another 1 million went to the balance of my car. The remaining 500 went into tiny holes, like debts. Sha, the money on top of the 2 million completely disappeared.
What project?
A lifetime project – marriage. I mean, I know 1 million isn’t going to be enough, but it’s a start. You blink and 6 months will pass and next thing you know, I don’t have any money for my wedding.
What are the numbers looking like?
Argh. In total now, I’ve put in about 2.25 million. My parents have put in like 5 million. I’m sure my bride and her family have in well over 5 million.
So let’s say it has already crossed 10 million.
Wow. I’m shocked hearing that out loud. Like, it doesn’t feel like it, but then the numbers don’t lie. We’re actually planning for 500 guests, but realistically, 600.
What’s your financial future looking like inside marriage?
I’m screwed. While my job gives me a bad salary, it’s not exactly bad money. Also, there’s the part where my fiancée is doing fantastically well.
So even though I need to pull my own weight, I’m not under as much pressure as you’d expect.
So side hustles will go a long way, because my job actually gives me time.
We have big goals, so I’m going to have to step up. I don’t have it entirely figured out right now, but I’m in good company.
Let’s talk about your monthly income
I’m winging this money shit every month. My only luck is that I’m not that much a heavy spender, so I only spend when I need to. Also, I have a reflexive saving habit. Money comes and I just save, and it’s not accessible short term.
Also, I invested in something once; Sukuk. I can’t even remember how much I put in it, I just gave my babe to sort it out.
For health emergencies, I have my office HMO. They also sort out pension too by the way. Imagine how much pension you’ll be getting from a 100k gross salary.
How much money do you honestly feel like you should be earning every month?
800k to 1 million. And this is an educated figure. My skillsets across my side projects say I should be earning that much.
Something you want but can’t afford?
Nothing. I have everything I want. There’s a part of me that will say material stuff, but right now I think I’m fine. I think I’m just extremely lucky for everything I have, for the people in my life. For my fiancée.
These material things are mostly random shit, like a GoPro, or a drone.
Grad school would have been on my list, but I like where I’m headed. But if I had to go back to school, it’d be to study Sustainable Energy Futures. I’m enthusiastic about energy solutions for our part of the world.
When was the last you felt genuinely broke?
Yesterday. I almost cried. I was looking at my account balance and the list of things I have to do. And when I thought of the fact that at the end of the month, I’ll get 92k, it started driving me nuts. Funny thing is, I feel this way every month.
There’s something about my growth at work that depresses me. The closest people around me make me feel like I should be doing more.
And it’s not like they’re saying it or anything, I look at them and I just know I should be doing more. I’m not poor, but I could be doing way better.
Most of them are doing between 500k and 1 million a month. My existence is not threatened, financially. But I’m not happy with my financial performance, so far.
I feel you.
In the middle of this madness, my friends and I started a company in 2017.
I think we’re up to something, and I can see money or other success in my future. I care very much about building digital products–systems, apps, etc. It’s super interesting and lucrative. It’s still a tough sell at large, but we’ve been lucky a few times.
The most I’ve made from a gig – argh I don’t keep track of these things – I think it’s 200k and that’s minus the company revenue. This was a personal gig. To be honest, it was only for a few hours of work.
Despite everything, it always feels like I don’t have money. But I just always have money and I never lack.
Someone always tells me the best things that have happened to me were the ones I didn’t really plan for. I’m honestly grateful and optimistic about the future.
Random, but what is your Nigerian dream?
Building something that blows. Blowing in Nigeria is selling something to the government, then relocating your family Abroad.
Then join them later after you’ve hustled well here. And then live happily ever after; The Abroad Nigerian Dream.
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