LIFESTYLE

Nigerian Economy: 5 Habits Of People Who Will Never Go Broke

Published

5 months ago

February 24, 2024

Nigerian Economy: What People Do To Not Go Broke | Fab.ng

Tough times are hitting Nigeria hard, with many people struggling to make ends meet. The rising dollar exchange rate, the unpredictable Nigerian economy, and skyrocketing costs feel like a never-ending uphill battle. But here’s a surprising twist: There are some individuals seemingly sailing through this storm. So, what’s their secret?

It all boils down to smart financial habits. These folks aren’t just weathering the storm; they’re building a financial ark that keeps them afloat while others are treading water. The difference lies in the choices they make, the habits they nurture, and the mindset they cultivate.

So, what are these magical money moves to beat the Nigerian economy? Buckle up as we explore the habits that set these financially empowered individuals apart from the crowd.

1. They live within their means

Forget the myth of magic spells for tough times. The real secret to staying afloat financially, even in rough economic waters, is simple: budgeting and planning like a pro.

These financially savvy folks know the magic lies in living within their means. They don’t just guesstimate their income and expenses; they track everything carefully. That fancy new phone or trendy outfit might seem tempting, but they understand true happiness doesn’t come from fleeting trends. Instead, they prioritise needs, knowing a well-planned budget is their shield against financial storms.

By living frugally and avoiding paycheck-to-paycheck struggles, they build a strong financial foundation that weathers even the toughest economic tides.

2. They have multiple streams of income

In these uncertain times, when the Nigerian economy is very unstable, relying on just one paycheck is like balancing all your eggs on one plate—wobbly and risky! Financially savvy people know this, so they spread their income across different streams, like a chef balancing their eggs on multiple plates.

This could mean taking on part-time gigs, starting a small side hustle, or investing in things that make money over time. By having these extra income sources, they build a safety net and cushion themselves if one income stream takes a hit. It’s like having multiple chances to catch an egg even if one falls, making them less likely to end up with scrambled finances.

3. They save relentlessly

Even in tough times, some people manage to stay afloat financially. There’s a secret? Not really. It’s all about building good habits, like saving. No matter how small their income, these clever folks set aside a little bit every month. It’s like building a piggy bank for grown-ups. This “rainy day fund” acts like a superhero shield, protecting them if things get rough.

But there’s more! These savings don’t just sit there gathering dust. Over time, they grow bigger and stronger, like a magical money tree. This gives them opportunities to invest in their future, securing their financial well-being even more. Saving regularly is like building a fortress against financial storms!

4. They invest wisely

Just stashing cash under your mattress won’t cut it in Nigeria these days. With inflation gobbling up money’s value like a hungry monster, financially savvy folks know they need to invest. But they’re not impulsive investors, jumping into anything that glitters. They go on to research and understand the risks and rewards of different investments before taking the plunge.

Whether it’s houses, stocks, or bonds, they choose wisely to earn “passive income” (money that grows on its own), building wealth like a snowball rolling downhill over time. Also, keep in mind that smart investing helps your money work for you, not the other way around.

5. They educate themselves financially

Money matters can feel confusing, but guess what? Knowing stuff is your superpower. People who stay financially strong don’t just wing it. They’re like financial detectives, always learning and growing.

They read books, listen to experts, and even take classes to understand how money works. Why? Because the more they know, the better choices they can make. It’s like having a map to navigate the world of budgeting, saving, and investing, making them less likely to get lost (or broke).

Knowledge is power, even when it comes to your wallet!

For more updates, check here.

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ENTERTAINMENT

Musician Khaid Returns To Social Media After Protracted Illness; Unfollows All But Olamide

Published

1 day ago

July 25, 2024

Reporter

Musician Khaid returns to social media after illness | fab.bg

Khaid, a rising Nigerian music star, has recently returned to social media after a period of absence due to a serious health issue. He had been hospitalized for a month due to internal bleeding, which caused significant concern among his fans and fellow artists.

The young artist, whose real name is Sulaimon Shekoni Abiola, had been away from the public eye for several months. His health condition was initially revealed by his manager and record label boss, Sydney Talker. Videos showing Khaid in distress circulated online.

Upon his return to social media, Khaid made some dramatic changes to his online presence.

Most notably, he has unfollowed everyone on his Instagram account except for one person: the well-known musician Olamide. This unexpected action has sparked curiosity and speculation among his followers and industry insiders about potential changes in Khaid’s professional relationships.

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A post shared by Little snow ☃️ 444 (@khaidxr)

The only hints about Khaid’s current state of mind come from a series of cryptic posts he has shared. These posts appear to address his critics and suggest that he may be experiencing both personal and professional conflicts.

“Y’all set me up but can never shut me up. FYI, I’m Young Trump, I wish y’all long life so y’all can reap what you’ve sown accordingly,” Khaid wrote in one of his posts. “Thank God for helping me overcome what many would face and die. They can’t hold the boy down, we rise again!”

Khaid’s decision to unfollow Sydney Talker on social media has surprised many.

Sydney Talker was instrumental in Khaid’s rise to fame, having signed him to Neville Records. This action has led to much speculation about possible conflicts or changes in their professional relationship.

Khaid and Sydney Talker

The exact reasons for Khaid’s dramatic social media changes are not yet known. Some people think this could be a strategy to gain public attention. Others believe it might indicate serious issues within Khaid’s professional circle.

Despite these controversies, many of Khaid’s fans continue to show strong support for him. They are excited to see what he will do next in his career.

Khaid’s recovery from his health problems and his return to social media represent a personal victory. Also, it shows the beginning of a new phase in his music career.

As Khaid moves forward in the music industry, his determination and resilience are clearly evident. Both his supporters and critics will be paying close attention to his next moves.

Khaid’s story is still developing, and many are interested to see how he will navigate the challenges and opportunities that lie ahead in his career.

Check out more updates here.

ENTERTAINMENT

BBNaija 9: You Must Know These 4 Things Before The New Season Of Starts On Sunday

Published

1 day ago

July 25, 2024

Adaeze Okechi

BBNaija 9: things to know before season starts on Sunday | fab.ng

Africa’s most popular reality TV show, Big Brother Naija, is about to launch its ninth season (BBNaija 9) in a few days. This season’s theme focuses on pairing contestants and creating dynamic duos, promising to bring exciting new elements to the show.

The upcoming BBNaija season 9 is designed to offer viewers unexpected twists and turns throughout its run. Contestants, known as housemates, will be entertaining audiences across Africa for a total of 71 days.

As the premiere approaches, viewers can anticipate five specific twists, turns, and prizes that will be part of this season’s BBNaija experience. These elements are expected to add extra excitement and intrigue to the show’s format.

The show’s producers have likely prepared these surprises to keep both the contestants and the audience engaged throughout the season. These new features may involve unique challenges, special rewards, or unexpected changes to the game’s rules.

1. BBNaija 9 is centred around duos

BBNaija season nine will revolve around the concept of duos. The show’s organizers have revealed that contestants will be selected based on their ability to function effectively as pairs. The focus on partnerships will be a central theme throughout the season.

“What Biggie has asked for this year is for pairs to audition, which is the first time this is happening. This year we asked for people to come with their friends, besties, family members, wives, husbands, and partners, to enter the show together as a pair. That was the selection criteria,” said Dr Busola Tejumola, the Executive Head, Content & Channels, West Africa, MultiChoice.

2. Big Prizes and sponsors

The grand prize for this season’s Big Brother Naija is a whopping ₦100 million. This impressive package includes a cash prize and a brand new SUV. While there are already several sponsors on board, the full list of prizes is still uncertain due to recent controversies surrounding sponsorships.

3. A new twist for the head of house

This season’s Head of House challenge will be unlike anything viewers have seen before. Starting immediately after the launch show on Sunday, there will be a new primetime activity that will kick off the competition.

Dr Tejumola said,

“Right after the launch show on Sunday, a new activity will start. This season has high stakes. It’s going to move fast, and it will unravel right from Sunday night when we launch the show.”

HoH Ballot, which will determine the first Head of House on Monday, July 29th will replace the usual Head of House challenge.

A series of challenges, including the Custodian Lock-In, Immunity Challenge, and nominations will follow through. The organizers are aiming to create a more dynamic and exciting experience for both contestants and viewers.

4. Fans can win too

In addition to the contestants competing for the grand prize, viewers have the chance to win as well through the Fave Lock-In. By predicting the winning pairs in the Immunity Challenge, lucky fans can win ₦1 million every week.

The new season of Big Brother Naija premieres on Sunday, July 28th on Africa Magic channels. To participate in voting and the Fave Lock-In, fans must download the new MyDStv app before the launch date. The old MyDStv app will no longer be available.

Get more updates here.

ARTS & CULTURE

Babatunde Apalowo’s ‘Londoner’ Wins Best Fiction Feature Prize At Durban FilmMart

Published

1 day ago

July 25, 2024

Reporter

'Londoner' wins Best fiction feature prize at Durban | fab.ng

“Londoner” is an autobiographical film that tells the story of Ayo, a Nigerian bank manager who moves to London to reunite with his family. The film, written and directed by Babatunde Apalowo, recently achieved recognition at the Durban FilmMart. It won the Red Sea Film Fund Award for Best Fiction Feature. This prestigious award came with a cash prize of $5,000.

The Durban FilmMart Institute, which organized the event, is a non-profit organization dedicated to promoting both local and international trade and investment in African film content. This institute plays a crucial role in showcasing and supporting African filmmakers and their projects.

Babatunde Apalowo, the creative force behind “Londoner,” is a Nigerian film director and screenwriter who has made the United Kingdom his base. His portfolio includes several notable works such as “A Place for Happiness,” “Catcher,” “The Millions,” and “Death for Sale.” Apalowo’s talent received international recognition in 2023 when he won the Teddy Award at the Berlin Film Festival for his queer romance film titled “All the Colours of the World Are Between Black and White.”

The 15th edition of the Durban FilmMart, held in South Africa from July 19 to July 22, served as a platform for numerous impressive film projects from across the African continent. It was during this event that “Londoner” received its accolade.

Babatunde Apalowo

Produced by Pamela Drameh and Sarudzayi Marufu, “Londoner” goes into the complex emotions of its protagonist, Ayo. The film follows Ayo’s journey as he arrives in London, expecting to join his family, only to face an unexpected and heartbreaking situation. He discovers that his wife has become emotionally involved with another man and is seeking a divorce, adding a layer of personal turmoil to his already challenging experience of relocating to a new country.

The narrative of “Londoner” draws inspiration from Apalowo’s own experiences as an immigrant in the UK.

The director’s struggle to find a sense of belonging in a foreign land forms the emotional core of the film. In an interview with Variety, Apalowo shared his personal insights, highlighting the stark contrast between Nigeria and London in terms of personal space and social interactions. He poignantly described the loneliness he felt in London, a city where the anonymity and indifference of urban life stood in stark contrast to the close-knit communities he was accustomed to in Nigeria.

“Londoner” marks Apalowo’s second venture into feature filmmaking, showcasing his growth as a director and his ability to translate personal experiences into compelling cinematic narratives. The film’s success at the Durban FilmMart not only recognizes Apalowo’s talent but also brings attention to the important themes of migration, cultural adjustment, and personal relationships that the film explores.

The Durban FilmMart also celebrated other talented filmmakers. Among them were Sean Drummond and Sheetal Magan, who received The Known Inner Circle Award for their South African film “Acts of Man.” This award came with a substantial cash prize of $10,000, further demonstrating the event’s commitment to supporting and promoting African cinema.

Check out more updates here.