Media mogul Dele Momodu has cautioned Nigerians living abroad to reconsider their choices, stressing that financial stability and opportunities are available within Nigeria.
In a recent interview with Teju Babyface, Momodu highlighted that having ₦30-40 million in Nigeria can provide a comfortable lifestyle and create entrepreneurial opportunities.
He encouraged Nigerians to explore local business ventures, such as starting farms or ranches, rather than struggling to thrive in foreign countries.
Momodu noted that while life abroad may appear appealing initially, the financial pressure of bills and achieving independence can quickly become overwhelming.
The 64-year-old emphasized that ₦30-40 million should be sufficient to start a viable business in Nigeria, dismissing the notion that it would make anyone feel poor.
He also pointed out that no country guarantees perfect security, referencing the tragic deaths of 3,000 people in New York on a single day. Despite such incidents, people continue to live in the city, underscoring that one can also arrange personal security in Nigeria.
“If you have ₦30-40 million in Nigeria and you think you’re poor, I urge you to rethink. You can set up a solid business with that amount. No place guarantees perfect security,” he said.
“On a single day, 3,000 people were killed in New York, but people didn’t abandon the city. In Nigeria, you can even arrange your own security.”
Momodu also spoke to those concerned about food security, suggesting that with ₦30 million, one could start a ranch with cows and other resources in Nigeria.
He noted that while the allure of visiting family abroad can be appealing, the reality of renting a house and managing expenses alone is often a shock. Initially welcomed with open arms on vacation, the situation changes when extended stays become the norm.
“The excitement of staying abroad comes when you’re on vacation, and everyone welcomes you to stay in their free house. But when you bring your entire family to stay longer, you’ll feel the difference,” he shared.
“The moment you rent your own house, you’ll face the reality of paying bills. Abroad, there’s no mercy—once your money runs out, your life is at risk. No mercy. Just remember, Dele Momodu said: ‘No mercy abroad.’”
