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My Hustle: How I make money from operating a cold room business



Cold Room Business in Nigeria - nairametrics

Cold room business is one of the most lucrative in the SME sector. Every day, some businessmen and women across Nigeria work hard to take advantage of the ever-present need for seafood, poultry products, and beef. Talk about meeting people’s basic needs whilst making cool cash in the process!

Mr Muraina Mobolaji is one of those businessmen involved in the cold room business. In his office located somewhere in the Iyana-Ipaja area of Lagos, he disclosed how much the business is booming. According to him, livestock products are regulars on most Nigerians’ dinner plates. And since the commodities are often perishable, there is the need to preserve them.


But Mr Muraina, 34, has not always been a businessman; much less a cold room operator. He was once a secondary school teacher who became frustrated by the “poverty-pay” and the unpleasant conditions of employment he was subjected to. According to him, he realised at some point that he could no longer take it. As a result, he began putting plans together to start his business.

Not surprisingly, starting a new business was not an easy decision for the man. But he didn’t it anyway, finally taking the leap about four yes ago by first resigning from his teaching position, and then establishing the cold room. Today, he sells assorted fish, prawns, chicken, turkey, etc.

What is the cold room business about?

Basically, this business entails the preservation and distribution of perishable (livestock) food items; direct from the farms to people’s dinner tables. As you may well know, animal farm produce (such as chicken, turkey, and seafood) typically passes through a long distribution channel before they end up in people’s pots of soups and stews. During this long distribution process, a lot of business activities occur. It is here that SME business owners such as Muraina come in by making sure that your chicken is available for consumption at all times; albeit fresh and with all the nutrients intact.

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Please note that the cold room business also involves the sale of other commodities such as frozen yogurt, ice block, ice cream, soya milk, etc. But for the purpose of this article, a clear focus is on the preservation and sale of meat products.

Frozen chicken

Frozen chicken removed from the carton and ready to be cut.

Cold room operation is a multi-billion naira business

Nigerians consume about 1.2 billion birds (mainly chicken and turkey) every year. In the same vein, they consume some 3.32 million metric tonnes of fish annually, according to statistics by the Fishery Committee for the West Central Gulf of Guinea. These stats are indicative of a huge business environment where both farmers and marketers have the potential to make billions in revenues. But just as it is a profitable venture, cold room business also costs quite a lot to go into.

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How much is needed to start a cold room business?

After quitting his teaching job, Mr Muraina had to combine his life savings with a bank loan in order to finance his cold room business. According to him, he realised after completing the feasibility study that in order to start and scale the business, he would need at least ₦8 million.

In his own words-

“You know, in every business, you have to either start small or big. I categorise myself as a wholesaler, in the sense that I sell mostly to retailers who in turn sell to consumers. Therefore, to succeed as a wholesaler in this business, one would definitely need to have more seed capital than those starting as retailers.


After conducting my research, I realised that I needed at least ₦8 million before I could start and favourably compete in the business. So I had to get the money by all means.”

 What is the money needed for?

As an intending cold room owner, there are two important things that must be sorted out from the onset. These are your equipment- the cold room storage facility, and your power generator. According to Mr Muraina, there are many companies in Nigeria that specialise in the manufacturing, installation, and maintenance of these facilities.

Interestingly, a bulk of his seed capital went into having a large cold room panel purchased, shipped and installed at his present location. He spent about ₦4 million for that alone. He also has a Mikano power generator right beside the cold room which he said was purchased for some ₦1.5 million; second-hand price.


He also needed to spend money to lease the small patch of land on which his business is situated. In the same vein, Mr Muraina had to register his business with the appropriate government agencies, particularly the National Food and Drug Administration and Control (NAFDAC) which gave him the necessary accreditation he needed to operate his business.

Cold room business in Nigeria

A picture of the power generating set beside Muraina’s cold room. This generator powers the facility when PHCN’s electricity is not available.


How does the business work?

Most of the birds and fish sold in Nigerian cold rooms are imported from outside the country. This increases the cost of doing business for Mr Muraina. Unfortunately, he has no choice but to establish relationships with importers of the products who supply to him at subsidised rates. He, in turn, sells to retailers within the Iyana-Ipaja environs. These retailers include fish sellers at popular markets, women who walk around neighbourhoods singing and attracting people’s attention to come and buy fish, and those who have stores with deep freezers where customers come to buy fish, chicken, or turkey.

Prices differ, depending on what produce and quantity of produce a customer are buying. According to Muraina, “a carton of chicken can sell for up to ₦14,000, depending on the season. Turkey is typically the most expensive, with a carton selling for nearly ₦16, 000. Fish is the least expensive. There are different types of fish, and their prices vary. But for Titus which is mostly demanded by customers, a carton is between ₦11, 000, and ₦10, 000.

“Now because I do sell to end-users sometimes, and some people prefer to buy either half a carton or a quarter of a carton, what I do is to simply divide the price of a particular product by the size a customer wants to buy. However, I do not sell anything less than a quarter of a carton.”

Please note that these prices were confirmed by a roadside fish seller at Iyana-Ipaja bus garage who said that although she goes to Ijora (where the commodities are supposedly cheaper) to buy her goods, the prices are still relatively the same.

Meanwhile, speaking about how much he earns, Muraina disclosed that he can make as much as ₦100,000 in sales on a good day. This, therefore, translates to approximately ₦2,000,000 in monthly sales. This is the kind of money he could never have dreamt of seeing in a month as a public school teacher.

Cold room business in Nigeria

A picture depicting roadside fish sellers somewhere at Iyana-Ipaja bus garage. These are the example of retailers who buy from wholesalers like Muraina, and resell to the end users.

But there are some challenges…

According to the businessman, the cost of running his business is a big challenge. Electricity is the biggest challenge for him, he said. Without an adequate power supply, a whole stock of products could get wasted and result in loss. Unfortunately, the epileptic nature of power supply in the country has not helped his business at all.

“Power supply in Nigeria is in such a very bad state. And it particularly affects people like me who are in this kind of business. I need to ensure that in a day, this facility has an average of fifteen hours of power supply. But where in Nigeria can you get that? Consequently, I have to depend on the generator most of the time. And it is expensive. On average, I spend about ₦20, 000 on diesel every month. I also spend nearly ₦35,000 monthly on electricity bills, payable to the authorities. The unfortunate thing is that most times, they just bring the bills even without giving us enough light through the month. But then I would have no choice than to pay.”

Other challenges include the cost of maintaining both the cold room and the generator. According to him, compulsory maintenance work is always done on the cold room panel once in every three months. This costs about ₦30,000 each time.

Muraina is also “heavily taxed by the Lagos State Government”. Although he refused to disclose exactly how much he pays in monthly taxes, he believes the money is too much and should be reduced to encourage the growth of small businesses like his.

“There are many challenges facing this business. Electricity is the main one. The government needs to focus on solving the electricity problem in order to encourage the growth of small businesses. I always wonder why any government should be so concerned about collecting taxes by the end of every month without even thinking about whether or not businesses are making money.

Also, they should make loans easier for people to access. I had a lot of trouble trying to access a loan when I first started. You see all these organisations parading themselves as “saviours” of entrepreneurship and promising to provide financial facilities to SMEs, sometimes they really don’t. Their conditions are too much to fulfill. And I think it discourages some aspiring entrepreneurs.”

Cold room business in Nigeria

Another view of Muraina’s cold room and generator.

On the brighter side, it is easy to start making a profit in the cold room business. This is due to the fact that many Nigerians are constantly in need of this foodstuff. In Muraina’s case, even though he initially faced competition in the business, it was not long before he broke even; thanks to his established contacts, customer base, and the strategic location of his shop.

In conclusion, cold rooms are playing a huge role in meeting needs, solving the unemployment problem, and stimulating economic growth. In this light, therefore, governments at all levels should work assiduously towards creating a conducive environment for these businesses to operate, particularly by making adequate power supply available. In the same vein, investment in the agriculture sector should be increased in order to reduce the cost of importation of these livestock products which contributes to the hike in their prices.


Emmanuel covers the financial services sector for Nairametrics. Do you have a scoop for him? Well then, contact him via his email- [email protected]



  1. dayo

    April 3, 2018 at 3:30 pm


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    December 15, 2019 at 9:16 pm


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Data war: Glo dwarfs MTN, Airtel others in subscribers’ growth over 5 months

It gained 8.302 million data subscribers when it grew from 28.934 million in December 2019 to 37.236 million by the end of May 2020.



Data war: Glo dwarfs MTN, Airtel others in subscribers’ growth over 5 months

No doubt, competition among major internet service providers (ISP) in Nigeria has been intense, as the ISPs ensure that their brands are known as the best, most affordable and fastest in the industry.

From MTN’s Nedu Proposal Data commercial to  Airtel’s Data is Life, or Glo’s Emoji campaign and 9Mobile’s Moreblase, more affordable, it is obvious that these TV commercials must have cost the ISPs fortunes, as most of them are Nollywood star-studded.


Despite the intense competition in the last five months (January – May 2020), it appears that one of them has taken others by surprise and attracted more subscribers.

READ ALSO: UBA Records 13% Earnings Growth and Delivers N111billion Profit

According to data released by the Nigerian Communication Commission (NCC) recently for the period ending May 2020, indigenous mobile telecommunication company, Glo dwarfed other competitors, as it gained 8.302 million data subscribers when it grew from 28.934 million in December 2019 to 37.236 million by the end of May 2020, while MTN gained 4.75 million data subscribers. Airtel, which used to be the second-highest in subscribers growth after MTN, recorded 2.795 million, while 9mobile lost 812,827 subscribers within the same period.

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Meanwhile, Nairametrics had reported that the nation’s telecommunication landscape witnessed a high level of competition in terms of data offering in 2019, as operators in the industry intensified their efforts to increase their market share in a fickle industry.

NCC’s data for the period ending December 2019, revealed that Nigeria’s largest mobile telecommunication company, MTN, gained 8.18 million data subscribers, and Airtel successfully edged out Glo in terms of data subscriber numbers, as the telco added 4.06 million subscribers over the indigenous brand.

READ ALSO: $30 billion worth of BTCs disappears forever 

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Competition between two of Nigeria’s largest data sellers, MTN and Airtel took different turns in 2019, as MTN recovered from the drop recorded during the year.

Glo leads the pack ahead of MTN, Airtel

The competition has taken a new twist so far in 2020 (January – May 2020). Though MTN and Airtel, the two Nigeria’s largest data sellers, have 58.863 million data subscribers and 37.317 million subscribers respectively, Glo, which is the third-largest came from behind to outrun the ‘big players’, as more subscribers opted for the service of the indigenous ISP during the economic lockdown imposed by the Coronavirus pandemic.

What it means: While MTN and Airtel managed to attract only 689,593 and 41,791 subscribers in March and April (Peak of the lockdown) respectively, Glo smiled to the bank, as it attracted new 2.072 million data subscribers within the same period.


In terms of market share, MTN maintains the lead, as it controls 39.61% of the market (May 2020), followed by Glo with 27.12%, then Airtel with 26.83%, and 9mobile with 6.37% within the same period.

Internet quality: Where Nigeria stands in the world

The advent of 4G/LTE in the global telecom industry was accompanied by expectations of fast internet speed. 4G is the fourth generation of wireless mobile telecommunications technology, succeeding 3G. Potential and current applications include amended mobile web access, IP telephony, gaming services, high-definition mobile TV, video conferencing, and 3D television.


However, years down the line, Nigeria is still faced with poor internet quality. In a recent survey conducted on download speed experiences of subscribers across 87 countries including Nigeria, a Network monitoring outfit, Opensignal, concluded that congestion is messing with the user experience. Nigeria ranked 83 out of 87 of the countries surveyed in terms of download speed experience.

READ MORE: RMB aids acquisition of Nigeria’s Lucky pen by South Africa’s BIC


Opensignal stated,We saw the widest variety of scores of all our award metrics in Download Speed Experience, with average speeds ranging from over 50 Mbps to less than 2 Mbps. There were 13 countries with Download Speed Experience scores over 30 Mbps, while 35 of the 87 markets we measured fell into the 10-20 Mbps range, and 20 scored under 10 Mbps (Nigeria stands at 5.4Mbps).

While GSM companies continue to jostle for market share, it has often come at the expense of poor service and lack of accountability. Quite frankly, as an average internet user in Nigeria, one is usually left at the mercy of poor mobile internet services which frustrates one into seeking limited alternatives.

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COVID-19 Update in Nigeria

On the 14th of July 2020, 463 new confirmed cases and 10 deaths were recorded in Nigeria.



The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 33,616 confirmed cases.

On the 14th of July 2020, 463 new confirmed cases and 10 deaths were recorded in Nigeria, having carried out a total daily test of 3,015 samples across the country.


To date, 33,616 cases have been confirmed, 13,792 cases have been discharged and 754 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 186,309 tests have been carried out as of July 14th, 2020 compared to 183,294 tests a day earlier.

COVID-19 Case Updates- 14th July 2020,

  • Total Number of Cases – 33,616
  • Total Number Discharged – 13,792
  • Total Deaths – 754
  • Total Tests Carried out – 186,309

According to the NCDC, the 463 new cases were reported from 17 states- Lagos (128), Kwara (92), Enugu (39), Delta (33), Edo (29), Plateau (28), Kaduna (23), Oyo (15), Ogun (14), Osun (14), FCT (12), Ondo (9), Rivers (9), Abia (8), Bayelsa (5), Ekiti (3), Borno (2).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 12,711, followed by Abuja (2,687), Oyo (1,882), Edo (1,807), Rivers (1,397),  Delta (1,392), Kano (1,314), Ogun (1,105),  Kaduna (1,039), Ondo (747), Katsina (669), Ebonyi (616), Borno (593), Plateau (571), Gombe (533), Bauchi (521), Enugu (515), Kwara (422), Abia (413),  Imo (399).

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Jigawa state has recorded 321 cases, Bayelsa (318), Osun (276), Nasarawa (252), Sokoto (153), Akwa Ibom and Niger (145),  Benue (126), Adamawa (110), Anambra (101), Kebbi (87), Zamfara (76), Ekiti (66), Yobe (62), Taraba (30), Cross River (10) while Kogi state has recorded 5 cases only.


READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

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Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020.



READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

DateConfirmed caseNew casesTotal deathsNew deathsTotal recoveryActive casesCritical cases
July 14, 2020336164637541013792190707
July 13, 202033153595744413671187387
July 12, 2020325585717401613447183717
July 11, 2020319876647241513103181607
July 10, 2020313235757092012795178197
July 9, 202030748499689512546175137
July 8, 2020302494606841512373171927
July 7, 2020297895036691512108170127
July 6, 202029286575654911828168047
July 5, 2020287115446451111665164017
July 4, 202028167603634611462160717
July 3, 2020275644546281211069158677
July 2, 2020271106266161310801156937
July 1, 2020264847906031310152157297
June 30, 202025694561590179746153587
June 29, 20202513356657389402151587
June 28, 20202486749056579007149957
June 27, 20202407777955848625148947
June 26, 20202329868455458253144917
June 25, 20202261459454977822142437
June 24, 20202202064954297613138657
June 23, 20202137145253387338135007
June 22, 20202091967552577109132857
June 21, 202020242436518126879128477
June 20, 202019808661506196718125847
June 19, 202019147667487126581120797
June 18, 20201848074547566307116987
June 17, 202017735587469145967112997
June 16, 202017148490455315623110707
June 15, 20201665857342445349108857
June 14, 202016085403420135220104457
June 13, 20201568250140785101101747
June 12, 20201518162739912489198917
June 11, 2020145546813875449496737
June 10, 20201387340938217435191407
June 9, 2020134646633654420688937
June 8, 2020128013153617404084007
June 7, 20201248626035412395981737
June 6, 2020122333893429382680657
June 5, 20201184432833310369678157
June 4, 2020115163503238353576467
June 3, 2020111663483151332975227
June 2, 20201081924131415323972667
June 1, 20201057841629912312271579
May 31, 20201016230728714300768687
May 30, 2020985555327312285667267
May 29, 202093023872612269763447
May 28, 202089151822595259260647
May 27, 202087333892545250159787
May 26, 2020834427624916238557107
May 25, 202080682292337231155247
May 24, 202078393132265226353607
May 23, 202075262652210217451317
May 22, 2020726124522110200750337
May 21, 2020701633921111190748987
May 20, 202066772842008184046377
May 19, 202064012261921173444757
May 18, 202061752161919164443407
May 17, 202059593881826159441837
May 16, 202056211761765147239737
May 15, 202054452881713132039544
May 14, 202051621931683118038154
May 13, 202049711841646107037374
May 12, 20204787146158695936704
May 11, 202046412421521090235894
May 10, 202043992481421777834794
May 9, 202041512391271174532784
May 8, 202039123861181067931154
May 7, 20203526381108460128184
May 6, 20203145195104553425071
May 5, 2020295014899548123704
May 4, 2020280224594641722912
May 3, 2020255817088240020702
May 2, 20202388220861735119522
May 1, 20202170238691035117512
April 30, 2020193220459731715562
April 29, 2020172819652730713692
April 28, 2020153219545425512322
April 27, 20201337644102559942
April 26, 20201273914152399942
April 25, 20201182873632229252
April 24, 202010951143312088552
April 23, 20209811083231977532
April 22, 2020873912931976482
April 21, 20207821172631975602
April 20, 2020665382311884662
April 19, 2020627862221704362
April 18, 2020541482021663562
April 17, 2020493511841593172
April 16, 2020442351311522772
April 15, 2020407341211282672
April 14, 202037330111992632
April 13, 202034320100912422
April 12, 20203235100852282
April 11, 202031813103702382
April 10, 20203051770582402
April 9, 20202881471512302
April 8, 20202742260442262
April 7, 20202541661442042
April 6, 2020238650351982
April 5, 20202321851331942
April 4, 2020214540251850
April 3, 20202092542251800
April 2, 20201841020201620
April 1, 2020174352091630
March 31, 202013982091280
March 30, 2020131202181210
March 29, 2020111221031070
March 28, 20208919103850
March 27, 2020705103660
March 26, 20206514102620
March 25, 2020517102480
March 24, 2020444102410
March 23, 20204010112370
March 22, 2020308002280
March 21, 20202210001210
March 20, 2020124001110
March 19, 20208000170
March 18, 20208500170
March 17, 20203100030
March 16, 20202000020
March 15, 20202000020
March 14, 20202000020
March 13, 20202000020
March 12, 20202000020
March 11, 20202000020
March 10, 20202000020
March 9, 20202100020
March 8, 20201000010
March 7, 20201000010
March 6, 20201000010
March 5, 20201000010
March 4, 20201000010
March 3, 20201000010
March 2, 20201000010
March 1, 20201000010
February 29, 20201000010
February 28, 20201100010

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Best Mutual Funds in Nigeria

These are the best mutual funds in Nigeria to invest in based on performance.



Best Mutual Funds in Nigeria

Mutual Funds are a great form of investing especially if you are a passive investor. According to data from the Security and Exchange Commission, Nigeria has about 107 Mutual Funds cut across several Fund Types. Here is a breakdown of the Fund Types available for investors according to SEC.

TYPES Number

To determine the best performing Funds, we looked at the Fund Prices as of the last business day in December 2019 and compared to the fund prices as of the last trading day of June 2020. These are the top 5. We also included profiles of the funds as described in their websites.


Explore useful research data from Nairametrics on Nairalytics

New Gold ETF

Vetiva’s The NewGold Exchange Traded Fund (NewGold) is an Exchange Traded Fund that was listed on The Nigerian Stock Exchange (NSE) in December 2011. It tracks the price of gold and offers institutional and retail investors the opportunity to invest in a listed instrument (structured as a debenture) that is fully backed by gold bullion. Each NewGold security is equivalent to approximately 1/100 ounces of real gold bullion held in a secured stockpile of gold bullion. All gold is kept in the form of London Gold Delivery Bars and Good Delivery Standards are prescribed by LBMA.

December 27th

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Fund Price – N5,220

June 26th

Fund Price – N8,000

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Return –  53.3%

Ranking – First

Commentary: Gold prices have been on the up since the Covid-19 pandemic took hold of the global economy. Investors are uncertain and as history shows gold prices are always up during market uncertainty. If you are looking for protective investment in times of uncertainty then this is the best performing fund so far.


READ ALSO: FOCUS: These companies aren’t generating wealth for shareholders

FBN Nigeria Smart Beta Equity Fund

FBNH owned The FBN Nigeria Smart Beta Equity Fund is a pure equity fund that invests money predominantly in a portfolio of Nigerian companies, using a rigorous, research-based and tested evaluation system.

The fund provides long-term capital preservation by investing at least 75% of the fund’s assets (excluding cash and cash equivalents) in a diversified portfolio of high-quality companies listed on the Nigerian Stock Exchange. In order to manage liquidity, the fund may also invest up to 25% in short-term money market instruments and deposits with financial institutions.


December 27th

Fund Price – N129.17


June 26th

Fund Price – N197.29

Return –  52.7%

Ranking – Second

Commentary: For a fund that is predominantly focused on equities, this a pretty much impressive performance by all standards. For example, the NSE All-Share Index is down 9.8% year to date. If you are worried about investing in stocks and don’t have the heart for it and you are looking for a mutual fund, then this is the best performing fund out there.

READ ALSO: How to build a portfolio fit for 22nd Century

Vantage Balanced Fund

Investment One’s Vantage Balance Fund (launched in 2002) is a fund focused on long term capital appreciation, which is achieved by maintaining a flexible diversified portfolio of equities, fixed income, money market, and real estate investments. Assets are high-quality equity instruments quoted on The NSE while the bond issuers have an investment-grade rating from a credit rating agency registered by SEC.

December 27th

Fund Price – N2.21

June 26th

Fund Price – N2.87

Return –  29.9%

Ranking – Third

Commentary: This is a Mixed fund as it invests in a diverse pool of assets. Interesting to note that the managers of this fund also have an Equity-Based Fund, a Dollar Fund, and a Fixed Income Fund. But none of them come close to the Balanced Fund. If you are looking for a portfolio with a good mix of investment assets then this is the best performing as of June 2020.

READ ALSO: Why interest rates on treasury bills, bonds crashed

Legacy USD Bond Fund

FCMB Asset Management Owned Legacy USD Bond Fund (launched in 2018) is a SEC-registered US Dollar-denominated Collective Investment Scheme, structured as a high-yield mutual fund. The Fund seeks to generate stable income over the long-term. Legacy USD Bond Fund invests in credit-rated US Dollar-denominated fixed income securities issued by the Nigerian Government, Supranational bodies, and Corporate entities.

December 27th

Fund Price – N306.5

June 26th

Fund Price – N360.5

Return –  24.4%

Ranking – Fourth

Commentary: The Legacy Bond Fund is the best performing mutual fund if you are looking for dollar-denominated fixed-income debt securities like Eurobonds. At 24.4% they seem to be holding bonds with good yields and market values respectively. Apart from the Bond Fund, managers of the Legacy Bond Fund also manage a Fixed Income Fund, a Money Market Fund and an Equity Fund. If you are looking to invest in Eurobonds then this mutual fund is the best performing.

Vantage Dollar Fund

Investment One’s Vantage Dollar Fund (launched in 2018) is a SEC registered open-ended Unit Trust Scheme in Nigeria. The Fund seeks to provide investors with a bias for Dollar-denominated securities access to such securities, which ordinarily would be inaccessible to them by virtue of the minimum amount typically required to make such investments. It will invest primarily in Corporate and Sovereign Eurobonds.

December 27th

Fund Price – N401.02

June 26th

Fund Price – N469.2

Return –  17.0%

Ranking – Fifth

Commentary: This is the second dollar mutual fund on the list and the second from Investment One to make the list of best 5. It appears they have a hang on fund management. Dollar Mutual funds are a great source of investments and it is great to see another in the top 5. Thus, if you want another option, then this is one you can also go for. 

Bubbling Under: The following funds make up the rest of the top 5 on our list and in descending order.

6. AIICO Balanced Fund
8. Coronation Fixed Income Fund
9. CEAT Fixed Income Fund
10. United Capital Euro Bond Fund

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