Nigerian lifestyle content creator Eleanya Ucheya asserts that life abroad is superior with just $5,000 compared to having N30m in Nigeria.
He argues that the Nigerian economy’s instability puts greater pressure on N30m, making it vanish quickly, while $5,000 retains more value overseas even with inflation.
Ucheya shared these views in a recent TikTok video sighted by PUNCH Online on Sunday.
Ucheya identified insecurity, poor policies and multiple taxation as some of the issues that contribute to the decline of the naira value.
He said, “One bad policy can just bring your money down. I am not even talking about insecurity, which can destabilise you. Even as a business person, maybe you have N30 milllion, do you know that one fire outbreak can reduce you to nothing because no insurance.
“That person with $5,000 abroad can use that money to buy the latest car, he might just deposit maybe $1,000. He can buy on loan or lease, maybe in three years time, he takes the car back to them, he’ll just be paying small money.
“But that your N30million, may be you’re a businessman, tomorrow state will come for one tax, local government is coming, agbero is coming, police on the road is coming. Even if you want to pay for your child school fees from the money, after paying for the school, you pay for lesson teacher that will still come to your house and eat.”
Ucheya’s submissions sparked an argument on TikTok as many agreed with him, while others opposed his claim, saying N30m can set up one for life in Nigeria if managed well.
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