Photo credit: geralt pixaby
The statistic
$1 is equivalent to N490, so $1000 is equivalent to N490,000, $1000 can do a whole lot in the country Nigeria, Nigeria's minimum wage is N33,000. This is the amount they paid people that just graduated from school, serving their father's land, and everything is expensive, ranging from food, housing, clothing, and even data. A bag of rice is sold for N27,000 , and to rent a 1 bedroom flat apartment is N15,000 per month, light and subscription N5,000 a month, before you start buying other necessary things, after which you will be in debt. The people that have an advantage in this country, are those that are born wealthy, $1000 is a lot of money in my country, with that kind of money one can even start a mini-business.
The business plan
A small scale Business in my Country (Nigeria) can be established properly.
For Example - Capital $1000 (N490,000)
Business Niche - Agriculture (Livestock, Birds)
Bird Type - (Layers)
Birds can be purchased for N40(less dan $0.1) with N80,000 you can have about 2,000 birds of a week old.
Feeding of birds costs N6000, about 30bags(N180,000) is needed to feed the birds until they start laying in about 16weeks.
The Medication and the care of the birds including light, rent, and utility will cost about N120,000. and pay N30,000 for two workers each, and N40,000 for miscellaneous.
so if the birds survival is 1,500 and the birds lay twice daily, that would amount to 3,000 eggs per day. having a125 crate of egg, on daily basis, and a crate of egg is sold for N1400, so a day one can generate N175,000 and a month one can generate approximately N5.2 million which is equivalent to $10,600.
The problem it can solve
For a $1000, it will go a long way to make life better, also, would go a long way to help employment in nigeria. it can also solve some personal issues, I am a 500 level student, studying Marine Engineering in Federal University of Petroleum Resource Delta State, which I pay N50,000, as tuition fee, which is equivalent to $100.
So $1000 is a lot of money, and will even go a long way to solve most issue, especially tuition fee for me, and when it comes to Nigeria, only a few jobs can pay that kind of money, and if you have jobs that can pay that amount on monthly basis, then you are financially free in Nigeria, jobs that do pay that kind of amount are seafarers, oil platforms jobs, and politics which paid far more then that, but it a different game entirely.
