Student Guide

Top 10 Best Places to Invest Your Money As a Student in Nigeria

If you are searching for the best places to invest your money as a student In Nigeria, you are in the right place!

In one of my previous posts, I wrote about how to save money as a student in Nigeria.

While saving money, you also need to invest a part of it for more profit.

But you may be wondering – where should I invest my money as a student?

Well, in this comprehensive guide, I will be showing you the top 10 best places to invest your money as a student in Nigeria for maximum profit.

Ready? Let’s go!

Also Read: 15 Tips on How to Survive in a Nigerian University

Top 10 Best Places to Invest Your Money As a Student in Nigeria

Here are the top 10 best places to invest your money as a student in Nigeria:

1. High-Yield Savings Account

High-Yield Savings Account
High-Yield Savings Account

A High-Yield Savings Account is a great option for Nigerian students to invest their money.

It’s like a regular savings account but with a higher interest rate, which means your money grows faster.

You don’t need a lot to start, making it student-friendly. Plus, you can easily get your money when you need it.

It’s safe and a smart choice to grow your savings while having access to funds for emergencies or unexpected expenses.

While it may not make you rich overnight, it’s a secure and convenient way for students to build their financial future in Nigeria.

2. Stock Market

Stock Market
Stock Market

Investing in the Nigerian Stock Market can be a smart move for students.

It’s like buying a piece of companies you believe in.

While there’s some risk involved, over time, it can offer significant returns.

You don’t need a ton of money to start – small investments are fine.

Plus, it’s a great way to learn about business and economics.

But here’s the deal: it’s important to do your homework and maybe get advice because the market can be unpredictable.

If you make wise choices, you can potentially secure your financial future and learn valuable skills while being part of Nigeria’s growing economy.

Just remember, it’s a long-term game, not a get-rich-quick scheme.

3. Mutual Funds

Mutual Funds
Mutual Funds

Mutual funds are a smart choice for students in Nigeria. Think of them as a team of experts managing your money.

They gather funds from many people, then invest in various things like stocks and bonds, spreading the risk.

You can start with a little money, which is perfect for students. Plus, you don’t need to be a financial guru to get started.

As the professionals handle the investments, you can learn and potentially see your money grow over time.

It’s like having a financial advisor without needing a ton of cash upfront.

A great way to build your financial future as a student in Nigeria!

Recommended: 15 Best Side Hustles for Nigerian Students

4. Fixed Deposits

Fixed deposits are like a safe piggy bank for Nigerian students.

You put a certain amount of money in a bank, and they promise to give you more back after a set time, with a little extra interest.

It’s low-risk, which is great for students who want to keep their money safe.

You don’t need loads of cash to start one, and it’s super easy.

While the returns may not be sky-high, it’s a reliable way to grow your savings, and you’ll have your money ready when you need it.

So, if you’re looking for a simple, secure way to build your financial future as a student in Nigeria, fixed deposits are worth considering!

5. Treasury Bills

Treasury Bills (T-Bills) are like lending a hand to the Nigerian government while growing your savings.

You give them some cash for a few months, and they pay you back with extra money as interest.

It’s like a safe investment, backed by the government, so it’s not risky.

Even if you don’t have a ton of money, you can still get in on it.

The returns might not make you a millionaire overnight, but they’re steady and dependable.

T-Bills are like your financial safety net, making them a smart choice for students in Nigeria who want to grow their money while keeping it secure.

6. Real Estate Crowdfunding

Real Estate Crowdfunding is like joining forces with others to invest in properties without needing loads of money.

It’s perfect for students in Nigeria who want a piece of the real estate pie.

You chip in a small amount, and experts take care of the property management while you share in the profits.

It’s a cool way to diversify your investments and get into real estate without being a millionaire.

Although returns can vary, it’s an accessible and potentially rewarding option for students who want to grow their money and explore real estate in Nigeria.

Also See: 15 Best Apps to Make Money Online in Nigeria as a Student

7. Agriculture

Think of investing in agriculture like planting seeds for your financial future.

It’s like joining a farm team without needing tons of cash.

With platforms for agricultural investments, you can put money into farming projects, even as a student.

As the crops or animals grow, so can your profits.

It’s a cool way to diversify your investments and support Nigeria’s important farming sector.

Keep in mind, that there are some risks involved, but it’s also a fantastic chance to learn while earning.

So, for students in Nigeria, agriculture investments are like sowing the seeds of financial growth while contributing to the country’s food production and economy.

8. Peer-to-Peer Lending

Peer-to-peer (P2P) lending is like being a mini-banker.

You lend your cash to people or small businesses, and they pay you back with interest.

It’s a cool way for Nigerian students to diversify their investments.

Sure, there’s a chance someone might not pay you back, but you can spread your money around to reduce the risk.

The best part is that you don’t need a mountain of cash to get started; even small amounts work.

It’s an alternative to traditional investments and a way to potentially earn more while actively participating in the lending world.

So, as a student in Nigeria, P2P lending lets you be a savvy investor and make your money do the heavy lifting.

Also Read: How to Pack for University in Nigeria (14 Best Tips)

9. Cryptocurrency

Cryptocurrencies, like Bitcoin or Ethereum, can be an exciting but risky option for Nigerian students.

It’s like investing in digital money that can skyrocket or crash quickly.

While the potential for big gains is there, it’s also super unpredictable.

So, do your homework and only invest money you can live without.

It’s a bit like a rollercoaster ride – thrilling but not for the faint of heart.

If you’re up for the adventure and can handle the ups and downs, cryptocurrency could be an interesting addition to your investment portfolio as a student in Nigeria.

Just remember, tread carefully in this wild digital frontier!

10. Start a Side Business

Starting a side business is like planting a financial seed that can grow into something big.

It’s a fantastic investment option for Nigerian students because you don’t need a ton of money to get started.

You can turn your skills or hobbies into a money-making venture.

Not only does it potentially bring in extra cash, but it’s also a great way to learn about running a business.

It’s a hands-on investment that offers more than just money – it’s about gaining valuable experience and independence.

While it takes effort, having a side business as a student in Nigeria can set you on the path to financial stability and let you explore your entrepreneurial side.

Recommended: Food Timetable for Nigerian Students on a Tight Budget

Factors to Consider When Investing Money As a Student in Nigeria

Investing money as a student in Nigeria can be a wise decision for building long-term financial security.

However, it’s essential to consider several factors to make informed and responsible investment choices:

1. Financial Goals

Start by defining your financial objectives.

Determine whether you’re investing for short-term needs, like paying tuition, or long-term goals, such as buying a house or funding retirement.

Your goals will influence your investment strategy.

2. Risk Tolerance

Assess how comfortable you are with the possibility of losing money.

Generally, young investors can afford to take more risks because they have time to recover from losses.

Risk tolerance helps determine the mix of investments in your portfolio.

3. Time Horizon

Consider how long you plan to keep your money invested.

Longer time horizons typically allow for more aggressive investments with higher potential returns.

Also See: How to Make a Food Timetable As a Student in Nigeria

4. Diversification

Spread your investments across different asset classes, such as stocks, bonds, real estate, and cash.

Diversification helps reduce risk because different assets may perform differently in various economic conditions.

5. Emergency Fund

Before investing, ensure you have an emergency fund in place to cover unexpected expenses.

This fund should be easily accessible and equivalent to three to six months’ worth of living expenses.

6. Budgeting

Create a budget to manage your expenses and allocate a portion of your income to investments.

Avoid investing money you can’t afford to lose or money needed for essentials.

Also Read: List of Food Provisions for Boarding School in Nigeria

7. Knowledge and Education

Invest time in learning about different investment options.

Understand the risks and potential returns associated with each investment type.

Consider attending financial literacy seminars or seeking advice from professionals.

8. Start Small

As a student, you may have limited funds to invest. Begin with a small amount that won’t strain your finances.

You can gradually increase your investments as you gain more financial stability.

9. Tax Considerations

Be aware of the tax implications of your investments.

Some investments may have tax advantages, while others may result in capital gains taxes.

Recommended: 15 Ways to Make Money Online As a Student in Nigeria

10. Investment Platforms

Choose reputable investment platforms or institutions to manage your investments.

Verify their regulatory status and fees associated with your investments.

11. Stay Informed

Keep yourself updated on market trends and economic developments.

Be prepared to adjust your investment strategy as necessary.

12. Monitoring and Review

Regularly review your investments to ensure they align with your goals.

Make adjustments if your financial situation or objectives change.

Also See: 20 Things to Take to University Hostel in Nigeria

13. Long-Term Perspective

Investing is a marathon, not a sprint.

Avoid making impulsive decisions based on short-term market fluctuations.

Stick to your investment plan and avoid emotional reactions.

14. Seek Professional Advice

If you’re uncertain or overwhelmed by investment options, consider consulting a financial advisor.

They can provide personalized guidance based on your financial situation and goals.

Legal and Regulatory Compliance

Ensure that your investments comply with Nigerian financial regulations and tax laws to avoid legal issues.


Remember that investing inherently carries risks, and there are no guarantees of profit.

It’s crucial to take a thoughtful and informed approach, aligning your investments with your unique financial circumstances and aspirations.

Also Read: List of Food Provisions to Take to University in Nigeria

Frequently Asked Questions (FAQ)

What Business Can I Start With ₦20, 000 in Nigeria as a Student?

There are several businesses you can start with ₦20, 000 in Nigeria as a student.

Start small with popular products like phone accessories, clothing, or cosmetics.

Set up a food kiosk or snack stand on your campus for a steady flow of customers.

Offer services like tutoring, typing, or graphic design to fellow students.

Explore online options like dropshipping or social media marketing with minimal investment.

Consider vending mobile recharge cards or data bundles.

Key to success: research your market, create a plan, and focus on customer satisfaction.

Gradually reinvest profits to expand your business as it grows.

What Age Is Good for Investing?

Investing is smart at any age, but starting early is a game-changer.

In your 20s or even earlier, you benefit from compound interest, letting your money grow exponentially.

However, it’s never too late to begin. The right time to invest depends on your financial stability and goals.

Whether you’re 25 or 55, the key is having a clear investment plan that suits your objectives and risk tolerance.

So, don’t stress about your age; focus on building a diverse investment portfolio to secure your financial future.

The sooner you start, the more you can potentially gain, but it’s never too late to get in the game.

How Can I Earn Money from Google As a Student?

As a student, you can make money with Google in a few ways.

First, try Google AdSense to display ads on your website or YouTube channel.

You earn when people interact with those ads.

Next, join Google Opinion Rewards to take surveys and earn Google Play credits.

Consider creating and selling Android apps on the Google Play Store, making money from in-app purchases or ads.

If you’re knowledgeable in a subject, offer consulting or coaching services using Google Meet or Google Workspace, charging for your expertise.

These options let you leverage Google’s platform to earn some extra cash while you’re studying.

How Can a Student Grow Money?

To grow your money as a student, start by saving a portion of your income regularly and creating a budget.

Consider opening a high-interest savings account or fixed deposit.

Explore low-risk investments like mutual funds and government bonds.

Learn about stocks and consider long-term investments.

Avoid unnecessary debt and prioritize financial education.

Growing money takes time, so be patient and stay committed to your financial goals.

What Can I Do to Make Money As a Student in Nigeria?

There are several ways to make money as a student in Nigeria.

Consider freelancing online, using your skills in writing, design, or web development.

You can also tutor classmates or offer academic help.

Try small-scale entrepreneurship like selling crafts or snacks locally.

Join gig economy platforms for jobs like ride-sharing or food delivery.

Look for internships in your field; some offer stipends.

Take advantage of the growing online market in Nigeria by selling products through digital marketing and e-commerce.

Diversify your income sources to increase your earnings and gain valuable experience.

Recommended: What Should I Take to University As a Fresher in Nigeria?


Investing your money as a student is very important.

Imagine a situation where you couldn’t get a job immediately after you graduated from school.

If you have some money from your investments, you can use it to support yourself pending when you get a job or you can even decide to explore your entrepreneurial side.

In this article, I’ve shown you the top 10 best places to invest your money as a student in Nigeria.

So kindly do more research and pick any of these investment options that suit you best.

If possible, consider engaging a financial advisor for personalized advice and guidance on which investment option to choose.

If you have any inquiries or questions, kindly drop them in the comments section and I will respond as fast as I can.

Good luck!

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  • Grace Williams

    Grace Williams is a retired teacher with over 30 years of experience when it comes to teaching and education in general. She has decided to share her wealth of knowledge on Schoolcrib.

Grace Williams

Grace Williams is a retired teacher with over 30 years of experience when it comes to teaching and education in general. She has decided to share her wealth of knowledge on Schoolcrib.

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