My ₦1 Million Business Lesson

Family often becomes the biggest financial liability. In many Yoruba communities, successful individuals face a cultural expectation called black tax: ongoing support for extended relatives. While it acts as a social safety net, it can trap people in dependency and stall wealth-building. When my niece asked for yet another handout, I took a different approach. I helped her secure a low-interest ₦1 million loan and guided her through a simple business proposal. Over three months, I mentored her using core entrepreneurship principles and classic wealth-building books. By mid-2025, I learned she had diverted the funds to pay for surgery her father refused to cover. This sobering moment showed how easily opportunities slip away. The real takeaway is to balance genuine support with clear boundaries and accountability to break dependency and build lasting wealth.

Use The App To Win ₦1m

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