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Is there a legitimate Nigerian business that can guarantee 5-10% monthly interest?

Emmanuel Abara Benson
Is there a legitimate Nigerian business that can guarantee 5-10% monthly interest?

Now, this is an interesting question, isn’t it? Nairametrics’ Lead Partner and Publisher, Ugochukwu Obi-Chukwu, recently asked his Twitter followers the same question. As expected, the question was met with numerous responses. Some investment platforms even used the occasion to advertise their services to potential customers. But is there really a legitimate business that can guarantee investors 5-10% monthly return on investment? Well, let’s take a closer look at the matter.

Apparently, such businesses exist 

Majority of those who responded to the question did believe that such businesses exist. As a matter of fact, they even came up with suggestions ranging from regular small businesses to more organised kinds of investments. For example, a Twitter user replied that roadside restaurant business would suffice. However, just in case that isn’t good enough, she equally suggested events management.

Although she did not explain in detail how exactly these businesses could guarantee that much return on investment, it is important to note that food businesses always have the potential to thrive. This is due mainly to the fact that humans need food to survive. However, this type of business always tends to be highly competitive, even for those operating on a large scale. Therefore, it is highly uncertain if a “Mama Put” business can, indeed, guarantee 5-10% ROI.

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Moving on, another Twitter user (Samuel U.F Udom) suggested that investing in the business of scrap metal purchase would serve the purpose. He actually explained his point, mentioning iron as the metal of choice. Apparently, iron is always in high demand. The business works in such a way that a kilo of scrap metal, which can be purchased from scavengers at N70-N80, can then be sold to the end-users (I.e., recycling companies) at N120.

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If you can buy up to 10 tons volume of scrap metal, then you can make over N300, 000 worth of net profit, he said. This sounds interesting, no doubt. However, it needs further verification.

Another business idea that can even give more than 10% ROI, according to RealNaijaKolo, is haulage business. Now, this is not just an ordinary kind of haulage business. Instead, it’s all about transporting natural resources such as limestone, laterite, iron ore, and more. To do this job, you need to be closer to sites like Opkella where limestone is mined by the likes of BUA cement. Something else you would need is a contract with a producer to transport the goods. Then you stand a chance of earning up to 15% returns on investment.

Again, this sounds almost too good to be true. But then again, we are talking about limestone and other natural resources which serve as raw materials for some of the biggest companies in Nigeria. Therefore, just in case you are interested in this sort of business, conduct more research to better understand it before jumping right into it.

Theodore Isichei suggested that veterinarians can cash out by simply offering to immunise cows for Fulani herdsmen up north. According to him, some of these Fulani cattle owners are willing to pay as much as N10, 000 just to immunise one cow. Imagine immunising a herd of cattle, N10, 000 per one. Interesting! But then again, is this even true? Moreover, how much would the immunisation kit cost?

Some people took advantage to advertise 

Biodun Afolabi, who described himself as an investment technology enthusiast, told those who cared to listen that Wealth.NG could definitely help them to actualise this. According to him, just by downloading the Wealth.Ng app, Nigerians could have access to invest in stocks, treasury bills, and more. Now, just to quickly add that this one is true. Go get the app right away.

Meanwhile, Cokodeal, which claims to be Africa’s largest export platform, also took advantage of the moment to explain how they can help Nigerians earn up to 10% return on their investments on a monthly basis. See below if you care-

Some people are sceptical 

It is probably important to mention at this point that when it comes to investing, return on investment is never something one talks with certainty except when one is definitely certain. This is because anything could happen along the way, thereby causing disappointments.

This is exactly the point Onaopemipo Dara made when she pointed out that some people probably didn’t understand what 5-10% ROI really entails. Her suggestion is that people need to first understand what this means.

Please note that suggestions made in this thread are the opinions of those who shared them. Therefore, if you are thinking of going into any of the businesses suggested therein, ensure to consult a qualified investment expert to give you the necessary advice.

Best of luck in your investment journey.

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