What would you do if you had ₦1 million in your account today? save? start a business? Or take a bold plunge into the stock market?
That was the question at the center of BusinessDay's September Women's Choice poll, which explored how Nigerian women think about money, investing and financial growth. The responses offered an insightful look at how women are navigating today's economy – weighing risks, seeking stability, and defining their own paths to wealth creation.
Here are five ways Nigerian women say they would invest ₦1 million to make more money, based on real responses from the survey.
business venture
For most respondents, the smartest way to raise ₦1 million is to turn it into capital for a business. Many women said they would either start a small enterprise or expand an existing enterprise, especially in sectors they already understand, such as agriculture, beauty, fashion or retail. Business ownership remains the top choice because it offers greater control over results and flexibility to scale. Many respondents said that running a business gives them the power to directly influence their income rather than relying on external economic factors.
One participant advised, “Start your own business early. Keep your eye on the ball and control your desire for self-gratification.”
real estate
Real estate emerged as another strong contender. Many women find it a reliable way to grow their money, even if returns take time. Respondents talked about buying land in developing areas, joining property investment groups, or selling properties for profit.
One respondent wrote, “No matter how small, start investing immediately – good real-estate deals don't wait.”
Real estate offers something invaluable in Nigeria’s volatile economy – a sense of security. It may not double one's investment within a year, but it creates solid, lasting value that attracts those thinking beyond short-term profits.
Stock and Crypto
A large number of women said they would invest in stocks or cryptocurrencies, indicating a change in financial awareness. Many respondents are learning how to diversify their portfolios, study market trends and take measured risks.
One participant recommended, “Be curious and seek real investment advice from trusted sources.”
This growing confidence in the financial markets shows how women are broadening their investment horizons.
FX and Money Market Funds
Some respondents opted for more conservative investments such as foreign exchange (FX) and money market funds. These options offer a balance of safety and stable returns, especially for those who are wary of Nigeria's currency volatility.
“Invest in currencies other than Naira,” one respondent advised.
This choice reflects a pragmatic mindset: protecting one's capital while allowing it to grow modestly. For many women, this route ensures financial security without the worry that comes with high-risk investments.
savings mix
A small section of respondents prefer to keep things simple through traditional savings or fixed deposits, sometimes combining them with small-scale investments. They view consistent savings as the foundation of any wealth-building plan.
“A mix of savings and investments, that way you're growing while staying safe,” one woman said.
This approach highlights an important truth: Although not everyone is comfortable with risk, financial discipline remains a powerful tool for growth.
In each response, one theme emerged: sustainability. Whether it's running a business, investing in property, or saving diligently, the path to wealth is not seen as a one-time move but as a continuous journey.
As one respondent simply put it: “Start small, be persistent and never stop learning.”
