Financial experts have urged entrepreneurs to explore legitimate domestic investment opportunities and seek external funding to expand their businesses.
They gave the advice at the Nigeria Wealth Summit, which had the theme: “Building Wealth and Backing Nigeria: Where Capital Meets Opportunity”, in Abuja on Saturday.
Ms Ifeoluwa Adegoke, Founder of Money Talks With Ife (MTWI) Financial Services and convener of the summit, said the event was organised to build confidence in Nigeria’s investment opportunities.
Adegoke said Nigerians could build wealth by investing in financial markets, agriculture, real estate, oil and gas, among other sectors.
“We want people to believe that there are opportunities here in Nigeria and that they can invest in legitimate opportunities in the financial markets, agriculture, real estate, oil and gas.
“We are being patriotic citizens and championing the message that there is money to be made here in Nigeria,” she said.
She said technology had improved access to investment opportunities, particularly through fintech platforms that had simplified stock trading and made investment information more accessible.
“Now, on your phone, you can buy stocks and trust that you are working with a licensed broker,” she said.
Adegoke added that the summit also aimed to simplify investment concepts and make financial knowledge more accessible to Nigerians.
Similarly, Mrs Mojisola Hunponu-Wusu, a financial expert, urged Nigerians to invest in their country and communities.
She said local investment could contribute to national development and economic growth.
“Invest in your country, invest in your home. You cannot be bigger, or your story cannot be bigger than the source of where you are coming from,” she said.
Hunponu-Wusu said her experience of living in other countries had strengthened her appreciation of Nigeria’s entrepreneurial environment.
According to her, Nigeria offered opportunities for people to pursue business ideas and develop their visions.
She, however, called for improved access to funding and capital, as well as tax relief for businesses during their early years.
She said such measures would support entrepreneurs and encourage business growth.
“Government should encourage access to funding and capital, particularly through institutions, to support investors,” she said.
Mrs Oluwabusolami Adewale-Kayode, a financial educator, advised entrepreneurs and small and medium-sized enterprises to seek external funding to grow their businesses rather than rely solely on personal resources.
Adewale-Kayode said business owners needed clear financial structures that allowed them to pay themselves, reinvest in their businesses and set aside funds for future investments.
“As a business owner, you need to have an investable fund and your own salary. While paying your staff, pay yourself and also seek funding,” she said.
A participant, Ms Tekla Chisom, said financial knowledge was essential across different sectors, including healthcare, construction, and oil and gas.
Chisom said wealth creation went beyond earning money through active work to include preserving wealth and building sustainable income streams.
She added that individuals needed to explore ways of moving from active income to passive income as part of their long-term wealth creation plans. (NAN)
