Nigerian – Renowned media entrepreneur Dele Momodu has called on Nigerians living abroad to reconsider their financial priorities, emphasizing that wealth and opportunities exist within the country.
In a recent interview with Teju Babyface, Momodu argued that having ₦30-40 million in Nigeria can provide a comfortable life and serve as a foundation for entrepreneurship. He encouraged Nigerians abroad to explore local opportunities by establishing businesses, farms, or ranches instead of struggling with high living costs overseas.
Momodu highlighted the challenges of living abroad, stating that while it may initially seem glamorous, the burden of rent, bills, and financial responsibilities can quickly become overwhelming. He noted that security concerns should not deter Nigerians from returning home, as no country is entirely safe.
Citing the 9/11 attacks in New York, he pointed out that despite tragic events, people do not abandon their homeland. He added that individuals in Nigeria can even arrange personal security if needed.
“If you have ₦30-40 million and think you’re poor, you need to rethink. That amount is enough to start a proper business in Nigeria,” he said.
Momodu also addressed the financial struggles of Nigerians abroad, explaining that the excitement of visiting family fades when one has to rent a house and cover expenses independently. He warned that financial independence overseas comes with relentless bills and no mercy for those who run out of money.
“The moment you have to pay your own rent and bills abroad, you will realize there’s no mercy. Once your money finishes, life becomes extremely tough,” he cautioned.
For those concerned about food security, he suggested that ₦30 million is sufficient to start a ranch with cattle and other resources.
Momodu’s remarks have sparked discussions about the financial realities of living abroad versus building a sustainable future in Nigeria.
By Damilola Adeleke| March 9, 2025
Adeleke Damilola (ACTION) is a versatile content writer with expertise in news writing and a seasoned media professional and broadcast specialist. Currently serving as News Editor for DNews Info, Damilola is also the CEO of the ACTION brand, committed to shaping lives and establishing a legacy of excellence for present and future generations.
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