Nowadays, it’s almost like you can’t get away from conversations about money. Online or offline, you’ll find someone talking about how the dollar might affect the naira, giving tips on the cheapest businesses to start in Nigeria or, well, sharing something about the price of fuel.

Talking about money can be uncomfortable. But it can also be beneficial. See, for instance, our piece about house rent in Lagos.

In this article, we are going beyond conversations to bring you short takes on money (from people who know what they are talking about). The ideas in these money quotes can guide your financial moves efficiently — whether you’re saving, investing, spending or making money in Nigeria.

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1. “I grew up in poverty, but I always saw it as a challenge. The good thing is that you can surmount a challenge if you are willing to pay the price. The price is hard work.” — Femi Otedola, former chairman of Forte Oil PLC

With 63% of Nigerians in multidimensional poverty, living in this country can feel like a bad joke. However, as with most challenges, hard work can be your key to success. 

In fact, with a strong work ethic, the right skills and plenty of luck — regardless of your circumstances — you too can escape the clutches of poverty, overcome adversity and experience financial success.

2. “Rome was not built in a day. As you continue to struggle to make ends meet, somewhere, somehow, you will make it.” — Folorunsho Alakija, Executive Vice Chairman of Famfa Oil Limited

Extraordinary accomplishments, a booming business and a soft life — all these take time. Setting lofty financial goals and working towards getting your money up is important as a Nigerian, but don’t forget to pace yourself.

Keep pushing forward, grinding and saving — even and especially when times are tough. In the end, it’ll all pay off.

3. “Success is made up of 1% dreams and 99% hard work” — Tony Elumelu, Chairman of United Bank for Africa

You need two main things to thrive in Nigeria — a head full of dreams and hands unafraid of hard work. So whether you’re a student building your dreams in real time like Precious Kolawole or a business owner making millions like Ore Akinde, you need aspirations and effort.

However, try not to live in your head too much. 

4. “It is tempting to try to get rich quickly, but the process of getting rich slowly and steadily via saving and long-term investing is tested and reliable.” — Nimi Akinkugbe, Founder and Chief Executive Officer of Bestman Games Ltd

If there’s one thing you should avoid in your journey to financial freedom, it’s get-rich-quick schemes. Avoid Ponzis, fraud and everything in between — they’ll only bring you long-term sadness.

What’s the way then? Saving and long-term investments.

Saving in a low-risk platform like PiggyVest and investing in vetted opportunities (like those we offer on Investify) can help you slowly (but surely) amass the fortune you want. 

5. “The path to success is accessible to every young African person, regardless of background, family income, or education. This has been said many times, but I repeat it sincerely now — if I can do it, you can, too.” — Jim Ovia, Founder of Zenith Bank

Financial success might seem to belong to only a select group, but that’s not true. Anyone can build the life they want regardless of their provenance.

You just need to focus on the future, build valuable skills, plan your finances and keep working.

6. “It is not how much you earn but what you do with it that determines your end.” — Olumide Emmanuel, Mentor, Coach and Overseer of Calvary Bible Church

Let’s be honest: making money (lots of it) is crucial if you’re in Nigeria. At PiggyVest, we are staunch advocates of legitimate initiatives that can empower Nigerians financially. However, the key to defeating generational poverty isn’t solely in the amount you earn. It is also in how you treat your income.

Let’s say, for example, you and your friend (we’ll call him Idoga) earn the same amount monthly — ₦300,000. Now, imagine you practice the 50/30/20 rule and save on PiggyVest, but Idoga decides to spend his money as life comes.

Who would be better off financially in 5 years? Easy. You.

Why? Wise financial choices and responsible money management are essential in determining one’s economic well-being and ultimate financial outcomes whether you earn in dollars, naira or cowries.

7. “Ignorance about the laws of money makes man poor.” — Lanre Olusola, Founder of Life Coaches Association of Nigeria (LCAN)

Misunderstanding (or not knowing) financial principles like budgeting, saving and debt management might be holding you back from your financial goals. However, you (and anyone else, really) can turn things around today by embracing financial intelligence and healthy money habits.

8. “The most important thing to achieve in life is to reach a point where you do not need to compromise any of your values to earn a bit more money.” — Mark Essien, Founder and CEO of Hotels.ng

Becoming wealthy is impressive — especially in Nigeria. But you know what else is commendable? Keeping your values before and during the wealth-building process.

In fact, the ultimate life achievement is maintaining your principles even when you see the opportunity to make extra money. After all, authentic success only exists where your financial goals and moral integrity are in harmony — where your principles remain intact even while you pursue financial prosperity.

9. “The harder you work, the luckier you get.” — Mike Adenuga, Founder of Globacom

You’ve probably heard variations of this quote all your life, but there’s a reason it’s become hackneyed — it’s true. The more effort and dedication you put into your work, the more opportunities and fortunate outcomes you tend to encounter.

Hard work creates favourable circumstances and makes success seem like a matter of luck when, in reality, it’s the result of consistent effort and determination. So, keep working!