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‘All that you mentioned are luxury to Nigerians,’ Netizen reacts experts advice on investment 

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By Chioma Obinagwam

 

Netizens have not stopped reacting to an order of six investment options made by Financial Planner and Economic Strategy Consultant, Kalu Aja on his official X handle on Monday.

 

Confiance News gathered that investing in Emergency Funds topped the list, whereas Life Insurance followed.

 

He said, “Ndi Nigeria, invest in this order

 

1. Emergency fund

2. Life insurance (if you don’t have dependents, you don’t need life insurance )

3. Retirement Savings Account

4. NHIS

5. Buy two plots of land, off-plan

6. Then you open investment accounts for Fixed and Variable assets.”

 

Reacting, an X user, Akpata Nshiegbe said, “Sir, all that you mentioned are luxury to a majority of Nigerians at the moment. People can’t even eat now. Those that can afford it eats only carbohydrates.”

 

Replying to Nshiegbe, Aja said, “The folks that need it will appreciate it.”

 

Another Netizen, Ruth Byoma, said, “Considering health insurance is quite important & NHIS is affordable, should it perhaps go to no.2? Hospital bills pile up like joke like joke.”

 

Reacting to Byoma’s concern, he said,’ Nope.

The order is done for that with financial planning principles.”

 

According to another netizen, Delli, “Ok, I was with you until 2. So if one doesn’t have children, their life is not worth insuring? Lol.”

 

Aja replies, “I said DEPENDENTS.”

 

Delli said,” Ah, does dependent refer to something other than children in Nigeria? In the West (on taxes) it means children.”

 

The Financial Planner said, “Tweet is specific to Nigeria.

It says so in the first paragraph.”

 

Confiance News gathered from Investopedia that an investment is an asset or item acquired with the goal of generating income or appreciation.

Appreciation refers to an increase in the value of an asset over time.

When an individual purchases a good as an investment, the intent is not to consume the good but rather to use it in the future to create wealth.

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