Tips on securing loans in Nigeria
More and more start-ups or small-scale businesses in Nigeria are finding it hard to secure funds needed to operate safely, but there are possibilities for those who can learn about existing opportunities for loans and investments. In simpler terms, securing loans as a small business in Nigeria is not as tough as it sounds. Africa’s largest economy, Nigeria, is actually facing serious challenges currently. At no point in the history of the most populous black
We all think about taking out a loan to start business in Nigeria at one point in time. As such we have conducted research on new profitable ventures Nigerians are moving into. Uber Driver Loans Uber is one of Nigeria’s safest transport systems and companies. As more and more investors begin to get lured by its relatively secure operation, there is a need to sort out ways to raise funds for this business, especially as
Saving money in Nigeria isn’t a matter of arithmetic- it is a matter of priorities. We often tell ourselves we’ll start saving once we reach a certain milestone, like when we get our degrees, we get married, we get a bumper pay rise, we pay off our debts, or the kids move out. Most times, we keep kicking the ball forward then, procrastination sets in. Realistically, there is no easy time to save because saving requires
Making money with Nigerian treasury bills is a smart way to optimize your investments. The Debt management office centrally coordinate the management of Nigeria’s debt. The DMO recently conducted bond auctions on April 25 2018 to raise funds for the implementation of the 2018 Budget. Treasury bills definition Treasury bills are short-termed debt instrument issued by the federal government through the central bank to provide short-term funding for the government. They are by nature, the
According to the CBN Weighted Average Interest Rates charged by banks in the first half of 2017 was 23.79%. The banking sector provided a total credit of N63.27tn to finance the activities of the private sector in 2017, according to figures from the National Bureau of Statistics. This rate means getting a loan in Nigeria with bad credit is very difficult and prohibitively expensive. Lenders make money on loans by charging customers interest and fees.
Choosing the right loan in Nigeria is a very difficult decision to make given the plethora of options increasingly available. We now have many registered moneylenders who provide loans instantly online to you bank account without having to travel to the bank. How much, for how long? The formula’s simple. Borrow as little as possible, repay as quickly as possible. To avoid complications, always base your borrowing on what you can comfortably afford to repay
Nigeria’s journey with foreign debt became noteworthy in the 1950s when the Nationalist wave swept through Africa to spark the independence of Nations from their colonial masters. A World Bank delegation visited Nigeria in 1953 to appraise the country’s development potential and to make recommendations for practical steps to accelerate development. The recommendation yielded a £185m facility that funded transportation and communications, public health, education, and other social or more directly productive services and for