Do you want to know how to survive on a low income in Nigeria? It is almost impossible to live within your means when you do not earn much. Especially in Nigeria, which ranks 66th out of 197 countries in the world in terms of cost of living.

Spending always seems way easier than saving or investing and you probably feel you deserve much more than you currently earn. Especially when you see your peers, or even people who are not as talented as you, earning big while you’re still collecting rice on credit per de rica.

With a low income or minimum wage, it can be a struggle to prioritize saving, investing, or any other financial priorities. Several of us do indeed try saving, only for our savings to immediately find themselves doing their job way before time and saving us the next day.

And peradventure, if you decide to risk it all and go big with the mentality of If I perish, I perish, then you know who’s gonna come for you.

fbi open the door
The Sapa-Shege Strike Team

Lagos, Nigeria’s Center of Excellence, was recently rated by Mercer, the world’s largest human resource consulting firm, as the 13th most expensive city in the world. Its frenemy and close rival, Abuja, occupies the 20th position.

Many countries the world over are green with jealousy, as they do not even have one country on this prestigious list. Nigeria has TWO! By all means, we should be proud of ourselves.

Living in Nigeria can be tough, especially if you’re trying to survive on a low income. But fear not, my people! I will help you. I will show you how to aspire to inspire the Maguire in you, so that you will not expire before you retire. All you need to do is refer three people… sorry. Wrong slide.

Here are all the tips and tricks you need to make your income earnings go as far as possible.

Surviving On A Low Income In Nigeria

Have Multiple Streams of Income

It is very difficult to survive in Nigeria, especially if you have big dreams and you live in either Lagos or Abuja. Even high-salary earners complain about the cost of living, let alone someone who earns less than 50k per month.

Therefore, as a low-income earner, having two or three streams of income is not a bad idea. As long as you can juggle them so that none impact your performance in the others in any way.

Avoid Unnecessary Spending

It is very easy to get carried away in a spending spree, especially when you see something you like or you see your peers buying it. However, remember that you are not making enough money already.

Take a look at your slim wallet. Do you want it to get slimmer?

You really don’t need to spend your money on things that won’t fetch you more money as a low-income earner. Before you buy anything, take a second to reflect if you really need it. At that moment. You can use a scale of preference if it will help.

Spend on what you need and not what you want. Avoid impulse buying and don’t try to be what you are not. Spend within your means and don’t go broke trying to fake it till you make it. If you spend your money anyhow, Nigeria will treat you anyhow.

Join The Trek-A-Thon

If you live in Lagos or Abuja, you will know that transportation is your wallet’s greatest enemy. Just the mere act of stepping outside, and you are already spending money. And, if peradventure, you have to travel from the island to the mainland or vice versa for some reason…?

comforting crying

So, whenever you can, try to reduce how much you spend on transport.

Now, this is not to encourage you to turn into an Israelite and start walking all over the country. However, if you choose to trek some trekkable distances rather than taking a tricycle or motorcycle, you can save money and use part of it to buy water along the way.

Well, it’s not like you have a choice in the trekking matter right now, uh? I see you people every evening along Computer Village, channeling the Israelites in you. At least you will keep fit.

@theabotalkshow

Nigerians seen trekking in numbers in Computer village due to the increase in PMS . FOLLOW US/SUBSCRIBE TO OUR YOUTUBE CHANNEL ________________ #tiktokgistlover #tiktokblog #tiktoknigeria #tiktokvlogger

♬ original sound – TheAboTalkShow_

Master the Art of Bargaining

Many of us have stories to tell of accompanying our mothers to the market and watching her price yam of N8000 down to N2500 without any shred of remorse or pity for the yam, the seller and even the farmer. Well, now that Nigeria is showing you shege, don’t you wish you had that ability?

The power to bargain ruthlessly is a must-have if you are living on a low income in Nigeria. In fact, sellers respect a worthy haggler, in the martial way of one warrior to another. Also, it can mean the difference between sleeping on a full stomach or counting the ceiling tiles while your stomach sounds like someone is watching NatGeo Wild in there.

Few tips to keep in mind:

  • It’s not about being rude or aggressive, but being confident and persistent.
  • Start by offering a low price and working your way up from there.
  • Don’t be afraid to walk away if you can’t reach a deal — there’s always another seller around the corner.

Get Creative with Your Cooking

No, I don’t mean noodles and eggs 24/7. With a little bit of creativity, you can turn even the most basic ingredients into delicious, satisfying meals.

Try making your own spice blends, using cheaper cuts of meat, or experimenting with new cooking techniques. And if you’re feeling really adventurous, why not try your hand at making your own recipe? Just, please, do not recreate these abominations in the link below.

CHECK OUT: 10+ Worst Nigerian Food Combos You Should Definitely Try

Use The “Income Minus Savings” Equation

Some people follow the financial equation of “Income minus Expenses equals Savings”. This means they save what they have left after deducting expenses. If you belong to this school of thought, then it is time to turn the equation around.

Use Income minus Savings, which equals Expenses, instead. This means you have made up your mind on what you want to save, which should be fixed, before the salary comes.

Embrace Your Inner Entrepreneur

The spirit of entrepreneurship runs deep in Nigeria. So, if you’re struggling to make ends meet, why not start your own business? You could sell homemade snacks, offer laundry services, or even start a hairdressing or makeup venture.

However, remember that starting a business requires hard work and dedication. But with a little bit of hustle, you can turn your low income into a thriving business. Just ask any WhatsApp vendor.

Avoid Taking Your ATM Card Everywhere

Some of you are your own enemies. You go out, see something on the roadside that you do not need and the next thing, you are fishing out your ATM card and looking for the nearest POS vendor.

Never mind that, this time six months ago, we were all locked in a bitter war against them.

Going everywhere with the card(s) is dangerous, especially if you are a reckless spender or impulse buyer. Take some cash with you instead and leave your cards at home, or if you are going to the market or the mall, go with the approximate amount you have budgeted for spending.

Wrapping Up On How To Survive On A Low Income In Nigeria

Surviving on a low income in Nigeria may not be easy. In fact, it is not easy. But it is definitely possible. With the right mindset, skills, and support system, you can make your money go further and build a life that’s both fulfilling and enjoyable.

And who knows — with a little bit of luck and a lot of hard work, you might just find yourself becoming a millionaire entrepreneur in no time!

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