The #NairaLife of an Unemployed Graduate Who Isn’t Looking for a Job

Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.

What’s your earliest memory of money?

In JSS 3, I was a part-time apprentice learning how to make aluminium windows. Sometimes, clients would drop amounts like ₦1k for the apprentices to share. I can’t remember how much I usually got, but it was enough for snacks. That was the first time I got extra money — my family was quite poor —so it was a big deal.

Tell me more about your family’s financial situation

I grew up in the north, and everyone was pretty much content with what they had. I only realised we were poor when I became older. 

My dad was an okada rider, but when the state government banned okadas, he lost that income source. Then, he had a stint cleaning at a general hospital and farmed for food. 

My mum also did several things for money; she sold kerosene, firewood, uncooked pap and ground pepper for people with her grinding machine.

I’m the first child, and learning a trade while still in school was my parents’ way of making sure I had skills that could lead to money in the future. I didn’t just learn how to make windows; I also learnt photography and electrical installations. Those didn’t exactly bring money— except on the random occasions when clients dashed the apprentices’ money. I did get a chance to make money when I got into the polytechnic in 2017.

How did that happen?

So, at this point, I was living with my uncle. His son and I schooled in the same area, and I remember him giving us foodstuff and ₦500 each, then explaining that was all he had after saving for two weeks. It was very clear I needed to figure something out.

My mum sent me my first school fees — around ₦62k, but instead of paying my fees, I teamed up with my girlfriend and used the money to start a plantain chips business. We’d wake up at 4 a.m. to buy plantains at the market for insanely low prices, fry and pack in small plastic buckets, which we then gave to people to sell in school. 

We didn’t turn a profit at first, but I made my school fees back.

Phew. That could’ve turned out badly

That wasn’t the last time I used my school fees for business. We sold the chips for about a year and used my school fees as the capital for the most part. We stopped after a year when school authorities banned students from selling on the premises.

Around the same time, my landlady sent me and my guys packing, so I used everything I’d saved from the business to rent a new room. My guys never refunded me, and that’s how that money went. 

I finished my OND in 2019 with distinction and got a ₦50k cash gift from the state governor. I used the money to buy an Infinix phone someone eventually stole.

Yikes.

Anyway, my internship came next, and I secured an intern technician role at a company that sold inverters, batteries and other energy products. My salary was ₦15k/month, which mostly only covered transportation. 

Whatever was left went into financial self-help books. I think my financial situation really started to hit me, and I just wanted to learn everything I could about making money. I also started a liquid soap side hustle with the guys I lived with.

We made the soap in 5-litre kegs and sold each at ₦1k. We stopped when we ran out of customers. Then, we moved to coated peanuts. A friend’s sister sold zobo, so I went to her for used zobo bottles. We washed the bottles and used them for our peanuts. I can’t remember how much we sold the peanuts because sales weren’t consistent. We just shared whatever profit we made.

That’s how I managed my ₦15k salary. At some point, my employers increased it to ₦20k, but I didn’t enjoy that for long because my two-year internship ended three months later. 

Two years?

It was supposed to be one year, but I waited an extra year to return to school for my HND because of my girlfriend. Our school had some delays with the HND programme, and I didn’t want to leave her behind. Funny enough, she got a scholarship to study at a private university, and I returned to school alone.

But before I returned to school, my girlfriend and I decided to take the coated peanuts business seriously and make it a professional venture. We registered the business as a company and got NAFDAC approval in 2021. That was around the time Vice President Osinbajo offered a discount for people to register companies, and I spent less than ₦20k.

What was the NAFDAC approval process like?

Pretty seamless. I went to their office to get the requirements, and it took us about two months and about ₦100k from start to finish. That included the cost of fumigating the kitchen space we used for production and settling other requirements the NAFDAC officials gave as conditions for the inspection before finally getting the approval. We started selling before the approval came, though. 

My girlfriend took the peanuts to different banks on Fridays, and we also approached several supermarkets. We made the peanuts in 200 and 500 grams bottles and sold each at ₦1500 and ₦3k, respectively. Again, sales weren’t that consistent, and we put most of what we made back into the business. 

Marketing reduced when I resumed school. Since my girlfriend had transferred schools, I had to do it alone. So, in 2022, I dialled down on production and turned to writing for extra cash.

How did that go?

The money wasn’t great, but I survived. Although it was inconsistent, I charged ₦15k to write and print projects for students. Even when the gigs came, a project could take about three to six months to complete. 

Naturally, I was exploring other opportunities. A few friends in school had access to the SUG buses and used to get periodic solar installation gigs, so I tagged along since I had installation experience. The first time I went with them, we installed 12 panels in about four different places, and they paid me ₦45k. That was the biggest lump sum I’d ever received as personal income. I was so excited. 

Subsequent gigs paid ₦15k, but I absolutely loved it. I spent practically nothing on transportation and got fed whenever we went for gigs. It was like free money for only three hours of work. After a few months, I started getting the gigs myself and sharing the work with a friend. The first huge gig I got was in 2023, during NYSC. ₦1.3m for solar panel installations.

Mad o

That wasn’t only profit o. I still had to buy the panels and other materials. Even though I brought two friends on the project, I made ₦200k in profit. But that ₦1.3m was the biggest amount to ever enter my account. It was surreal.

Besides the occasional income from the solar installation gigs, I also got ₦53k/month from NYSC — ₦33k stipend and ₦20k from my Place of Primary Assignment (PPA). I served in the same polytechnic I graduated from, and I did everything from being a personal assistant to a lecturer to helping him teach classes within and outside the school. 

In addition, I got some side income helping students write project reports, which brought ₦30k on average. Plus, I received random ₦10ks here and there from students who were being supervised by the lecturer I worked with. The lecturer was super strict with projects, and some students gave me money to help with their projects or make sure they got approved. 

I made good money during my service year, and when it ended in October 2024, the money was pretty much used to set up my life. I got a ₦150k/year self-contained apartment and furnished the place with some furniture and other essentials. I even splurged ₦280k on a fridge and got a new laptop for ₦370k. In all, I spent about ₦1m.

What’s your income like post-NYSC?

I’m currently unemployed with no consistent income. Right now, I have only ₦900 in my account. Solar panel installation gigs don’t come as often anymore, and I can’t be sure of when or how much money will enter my account. The last gig I got was about a month ago, and it paid ₦220k. I used that to buy half a bag of rice and some other provisions because I might not get another gig for another month or two. 

I still run the coated peanut business, but I don’t earn from it. My girlfriend and I broke up in 2023, and I haven’t had much time to focus on growing the business. I have a manager who I pay ₦30k/month to handle the end-to-end process of producing and packaging the peanuts whenever we have orders from a supermarket. 

Whatever we make is returned to the business to pay the manager and other workers involved in production. The orders don’t come every month, and I have to pay the manager out of pocket most of the time, like I did in the last two months. I hope to give more attention to the business in 2025 and see how I can grow it.

Out of curiosity, does your unstable financial situation come with some anxiety?

Definitely. I get anxious, but I anticipated this as I was rounding up NYSC. I just make sure to always have food at home so I don’t add hunger to the pressure of not having a job. That way, I can keep a clear head and explore how to pursue my dreams and turn my business around.

I also have some money invested. Out of the ₦220k I made last month, I invested ₦110k in a friend’s cassava farm. I’m supposed to put in ₦350k, so I’ll spread the balance over the next few months. I expect to make a ₦245k profit added to my initial investment after harvest at the end of the year. 

So, when I feel bad about asking someone for ₦2k data like I did last night, I remember that I still have something to look forward to. I also have the bulk of my money invested into my business. It reminds me that while I don’t have money right now, I didn’t exactly waste it when I had it.

Right. Sounds like you’re not exactly job-hunting

I think about getting a job sometimes, but I want one that’ll give me time to pursue other interests and maybe explore a writing career. I don’t want to be stuck at a 9-5 that’ll keep me in a cycle. I’m not looking for a job just to survive.

I’ve turned down offers. The person I work with on solar installation projects offered me ₦100k/month to come work with him full-time, but I refused because I’d have to go everywhere with him and possibly work 24/7. I don’t want that. If I find a remote job that allows me flexibility and creative control of my time now, I’d definitely take it.

I notice you haven’t really mentioned your family, but you’re the firstborn. Do they have financial expectations of you?

My dad and I are not on great terms. Nothing serious; he just doesn’t know whether I’m surviving or not since I was in the polytechnic. My mum doesn’t ask me for money, but she put me through school. So, whenever I have money, I send her between ₦20k – ₦30k, or as I earn. For my siblings, I support them when I need to. I’m not under black tax pressure to handle anyone’s expenses.

Talking about expenses, what are your recurring monthly expenses like?

I buy food in bulk when money enters my account, so I don’t spend on food monthly. The only food items I buy outside bulk shopping are bread and the occasional pepper for stew.

How would you describe your relationship with money?

I’m quite self-sufficient, so it makes me plan my money right down to the last kobo. I don’t like begging or asking for salt from neighbours, so I think ahead for whatever I might need and plan accordingly.

I also like to invest. I know if I spend everything that comes to my hand, I’ll suffer for it soon. But by investing, I have something to look forward to. 

Is there something you want right now but can’t afford?

A washing machine. I’ve become very lazy to do my laundry. The last one I checked cost ₦177k, and I’ll probably get it next year from the proceeds of my cassava investment. 

How would you rate your financial happiness on a scale of 1 – 10?

5. I don’t have all the money I need, but I’m content that I’ve utilised the opportunities I had to the best of my ability.

Find all the past Naira Life stories here.