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Things one should know to achieve financial freedom – Grace Agada

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Grace Agada

One of the wisest things to do early in your career is to know upfront if you will achieve financial freedom. You then assess what kind of financial freedom you will achieve and what your chances of achieving total financial freedom you have.

Not everyone that sets out to achieve financial freedom will achieve it. Research shows that out of every 100 people only 20% achieve financial freedom; And out of every 100 working professionals only 15% will end up in retirement financially free.  The big question is, where would you be at the end of your career; and what gives you the confidence that you will achieve financial freedom?

Thus, the goal of today’s article is to show you some of the factors that will affect your ability to achieve financial freedom. And to then show you how to increase your odds’ of achieving it if your current odds are low.

What is financial freedom:

Financial freedom is the ability to fund your life from passive income. It is your ability to move from a life that is funded solely by active income to a life that is funded by passive income.

To achieve financial freedom, you must separate your physical presence from your income such that your absence is no longer a disadvantage. This means that your income must come regardless of where you are, how you work, and whether you choose to work. This kind of financial freedom can only be achieved when you have investments whose investing work can be completed before retirement and whose cash-flow can last for a lifetime.

Judging from your present position and the time you have left, would you be able to achieve this kind of financial freedom? If 100% of your current life is still dependent on an active income, you still have a long way to go. The only way to achieve this kind of financial freedom is to create a stable passive income that is worth the size of your current income and then transfer your source of livelihood to it. Only then can you achieve total financial freedom.

The truth is your current active income only has one purpose. And this purpose is to provide you the resources that you need to be free from depending on active income. If you fail to wean yourself off your active income before retirement, there will be unprecedented financial consequences awaiting you in the future.

Achieving financial freedom:

There are three factors that will show you if you would achieve financial freedom; And your understanding or ignorance of these factors is what will determine your financial success.

The First factor is How You Interpret Your Childhood Experiences. One of the things that will affect your financial decisions in life is your childhood experiences. Your childhood experiences will affect how you spend, save and what you invest in and prioritize as important. Yet your background and childhood experiences only play a little role in determining your overall success.

This is true because successful people come from poor backgrounds, and successful people also come from rich backgrounds. So, no matter your background you can achieve financial freedom.

But there is one thing that can determine your success to a greater degree. This one thing is how you interpret your background and childhood experiences.

There are only two interpretations that you can derive from your childhood experiences. The first is a positive interpretation and the second is a negative interpretation. Positive interpretation sees the good in your background and experiences and uses this good to propel you towards success. It also helps you make more wealth creating decisions.

Negative interpretation sees the bad in your background and experiences and uses this to demotivate you from success. It also uses this to help you make more wealth draining decisions.

Thus, the most rewarding positive interpretation to have is to see your background as the reason why you will be successful. And the most negative interpretation to have, is to see your background as the reason why life is hard for you.
Persons with a negative interpretation see themselves as deprived and disadvantaged. The moment they begin working, they will make decisions that drain their income and give them only little room for savings.
For example, they will use their financial freedom money to put their children in the kind of schools they couldn’t go, even though they became successful without going to expensive schools, and even when success is no respecter of school.
They will use their financial freedom money to stock their houses with foods that make them feel rich and special. Even though these food are unhealthy and will land them in the hospital in retirement.


They will also create an easy family environment removing any kind of pain, discipline, or delayed gratification, even though success require pain tolerance, patience, and resilience.


The results are children with queens’ English, fancy university certificates but with no real skills to help any employer. Parents are having to carry the load of their graduate children longer than necessary.
Children are now sicker, fatter, entitled, and lazy. And worse of all is that they are now more emotionally fragile in a world that requires toughness to survive.
All these happened because of trying to run away from childhood experiences. Your childhood and background may not be perfect, but it gave you a gift. Today you are the hardworking, resilient, and responsible breadwinner and provider even without a Queen’s English or fancy certification.

Until you begin to see the good in your background and rid yourself of your expensive childhood deprivations and cravings, there will not be any money left to pursue financial freedom.


Successful people never look at their background in a negative way. They celebrate their humble beginnings and use their backgrounds as the motivation to strive towards success. The less material things you need to feel happy, important, and accepted the faster you will achieve financial freedom. Similarly, the more you know why you do the things you do the faster you will achieve success.

Who You Model:

The fastest way to achieve any goal is to find a role-model and tap into these three things -their knowledge, their beliefs, and their actions. You must learn and model what they are doing, what their core beliefs are, and how they are thinking to get the same results.

The problem is most people never grew up around wealthy role models. This means that without the extra effort and commitment to find a wealthy role model you won’t make it. You must be able to always ask yourself, What will a wealthy man do in my situation and what will a poor man do? And then ensure that you are making more of a wealthy man’s decisions than a poor man’s decision. Unfortunately, it is easier to model a poor man’s decision than a wealthy man’s decision, because the former are easy and are all over the place. But until you model the wealthy man you cannot achieve financial freedom.


Thankfully, you can easily find wealthy role models today. There are several of them online and there are also at least three presents at your office 24/7, every day, from Monday to Friday. But rather than connect with them and model them you are busy resenting, hating, or judging them. Only a successful person can show you how to become successful and only successful people can help you achieve financial freedom.

If you keep modeling your middle-class colleagues and the people you saw while growing up, you will end up in retirement dependent just like your parents.


Your Discipline:

There is only one thing that makes a person willing to act, even when they do not feel like it or are afraid to do it, it is Discipline.

Discipline is the only way to achieve financial freedom. The reason discipline is important is because success requires tough level decisions and the commitment to a future that is worth fighting for. Discovering a purposeful future and taking disciplined action is not a fun. So, most people spend their adult life doing the easy things and postponing the hard things that lead to success. But until you do the hard and high standard things you will not achieve financial freedom.


Knowing what to do to achieve financial freedom is easy – now you know. Doing what you know is the hard part, and frankly this is what is holding you back from achieving financial freedom.

Perhaps you need help to achieve financial freedom. We are the best to help you. To see if you qualify for our help Send an email.

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Capital investments: FG woos venture capitalists

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Ogbonnaya Onu

The minister of Science, Technology and Innovation, Dr. Ogbonnaya onu has called on entrepreneurs, venture capitalists and the business community to invest more capital, innovation and ideas into the development of science, technology and innovation in Nigeria.

The minister made the call during a breakfast meeting with Nigerian entrepreneurs in Lagos at the weekend.

The breakfast meeting between the Federal government and entrepreneurs/captains of industries is to create synergy on how more investment through the private sector can be utilized for the overall development of Science, Technology and Innovation for Nigeria’s socio-economic benefit.

Dr. Onu said that efforts of the Federal government to grow STI in the country haven’t been enough and the need for venture capitalists is crucial to the speedy development of the sector.

“Venture capitalists in the technologically developed countries, play the very important role of transforming ideas into goods, by taking the necessary risks. In the absence of venture capitalists, we need to involve our top rated entrepreneurs who are major risk takers in the development process. For so long we have been dealing with manufacturers, but we need to utilize the risk bearers who will constitute the major off-takers of the products of scientific research and innovation activities by our scientists all over the country”, he said.

The Minister further explained to the entrepreneurs that necessary legal and policy framework have been laid out to create the necessary conducive environment.

According to Dr. Onu, the business community is the most formidable member of the STI Ecosystem. In his words; “I am convinced that you constitute the most formidable member of the STI Ecosystem, and hence provide the best mechanism to transform existing research and development breakthroughs and findings to wealth through commercialization for industrial and services application.”

Dr. Onu informed the business community that the Ministry has been reformed to coordinate innovation activities in the country, adding that for the first time since independence all regulatory bodies in the country brought together, to ensure Nigerian goods and services are of global standards.

The Minister of state for Science, Technology and Innovation, Barr. Mohammed Abdullahi, said that the Ministry is looking forward to leverage on their wealth of experience in businesses towards better application of scientific research and development outcomes to value addition in Nigerian enterprises.

He added that All the Ministries agencies are ready to exhibit some of their R&D outcomes and breakthroughs.

Barr. Abdullahi noted that the agencies are expecting know their needs and look for best possible ways on how they can collaborate to achieve results. He added that they were open to receive advisory notes that would help them serve the general public better.

 Business guru, Pascal Dozie, who delivered a speech titled, “Building Strategic Partnership between Science, Technology and Innovation community and Nigerian Entrepreneurs”, said that the essence of the meeting was to foster effective collaboration among the critical stakeholders within the STI ecosystem that will lead to significant inclusive development and growth of Nigeria.

He expressed optimism that a robust framework for full commercialization of key innovations can be achieved. 

He noted the following points to ensure meaningful impact and sustainability of the objective:  The framework should be properly developed to ensure that the interests of the different stakeholders such as financiers, the innovators, regulators, communities should be properly considered to ensure sustainable and beneficial collaboration and outcomes; due to the diverse nature of innovations from various research institutes, it is important to do a proper segmentation and mapping of the innovations along sectorial lines.

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Nigeria can take lead for Electric Vehicles in Africa – Promise Emmanuel

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Promise Emmanuel

Promise Emmanuel, the Chief Press Secretary to the Deputy Governor of Kogi State, Chief Edward Onoja on Saturday, declared that Nigeria can take the lead for Electric Vehicles (EVs) in Africa.

Emmanuel made the declaration while delivering a presentation at TEDxBudon in Lokoja on the topic: The Nigerian Automobile Industry: The future of Electric Cars.

Emmanuel who is popularly known as ‘Kogi Rebel’ with the Instagram handle, @Kogi_rebel, stated that Nigeria is a very important market where EVs can thrive.

His words: ”As a country, Nigeria can take the lead for Electric Vehicles in Africa. But the market has not kickstarted because of lack of policy and regulation. Nigeria still has key structural issues that prevent the mass adoption of EVs.”

On how the government can create a suitable and holistic policy that will create the enabling environment for electric cars to be produced in the country, Emmanuel said:

”For the government to do this, there are several aspects of the Electric Vehicle Ecosystem and value chain that must be taken into consideration.

”There need to be sufficient and workable charging stations put in place before people buy EVs. Investors also need to know that there is a demand for EVs before they invest in the construction of charging stations across the country. Right now, there are too few EVs in the country to convince investors to key in.

”Another issue that can’t be overlooked is the lack of power supply. According to the US Department of Energy, most EV charging happens at home and not at the designated charging stations. So, how will Nigeria adopt the use of electric vehicles?

”Nigeria intends to adopt the fleet method of adoption of EVs, which involves individuals or businesses buying them and investing in charging stations. We have seen this with a few companies.

”This fleeting idea has been adopted by GIG logistics and delivery company, with its recent launch of an EV charging station in Gbagada, Lagos State. This fleeting system is beneficial as it will gradually encourage people to adapt to EVs before bigger investments.

”Nigerians also need answers to how much time and electricity it takes to fully charge these cars. For example, the Kona takes 10 hours to charge and has a power rating of the 7.2-kilowatt hour. This is a lot depending on the different parts of Nigeria. It can also be cheaper than fueling a petrol-powered car.

”But Nigeria has been known over the years to have a bad track record on electricity. Many areas and states can’t boast of 12 hours power supply, electricity isn’t constant and also very expensive. How then can Nigerians charge their EVs?

”For this mass adoption to be possible, there is a need for the government and investors can boost renewable energy in form of solar energy and make it affordable for people.”

He added that electric vehicles will be of great benefit to the country, saying:

”If adopted, will increase the quality of air, which in turn will improve the quality of life in Nigeria through reduced emission of Carbon monoxide gas from the exhaust pipes in cars.

”The advantage of electric vehicles will relieve the country of problems caused by fuel-powered cars including the increasing cost of petroleum.”

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Federal Government laments $1.3bn spent annually on dairy importation – Abubakar

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The Minister of Agriculture and Rural Development, Dr Muhammad Abubakar, has maintained that the Federal Government’s National Livestock Transformation Plan, NLTP, is set to close dairy importation gap.

Abubakar stated this at a virtual meeting 36 State Commissioners of Agriculture and the Federal Capital Territory, FCT, along with other stakeholders on the State Level Project Socialization on Livestock Productivity and Resilience Support Project (L-PRES).

The Minister, represented by the Director, Animal Husbandry Services Department in the Ministry, Winnie Lai-Solarin, stated that the L-PRES programme is targeted to address low investment in the livestock sub-sector over the years.

He said: “A project to support the actualization of the NLTP is targeted at addressing the age-long low investment profile in the sub-sector to improve livestock productivity, resilience, and commercialization of selected value chains, as well as strengthen the country’s capacity to respond to crisis or emergency.

“The L-PRES project would facilitate the achievement of food security, reduce incessant conflict between farmers and herdsmen and cushion the effect of a COVID-19 Pandemic on the livestock industry in alignment with Government’s strategies and policies including, the promotion of climate smart livestock production and productivity, expansion of rural economy for employment and income generation, promotion of exports and reduction in the importation of livestock and livestock products, and Involvement empowerment of women, youth, and vulnerable people.

“The successful implementation of the National Livestock Transformation Plan will close importation gaps and address other challenges to livestock development in Nigeria.”

However, the Minister lamented $1.3 billion spent annually on dairy importation into the country.

“It is glaring with the current priorities in the World’s food supply systems, that the next issues of focus will be animal protein supply chains and its nexus with global welfare and security.

“Nations’ ability to provide good quality and affordable animal proteins has not only been linked with their pecuniary status, it has been confirmed to have direct relationship with human capital development and intellectual quotient.

“Although Nigeria Livestock subsector provides about 36.5% of the total protein intake of Nigerians, it also contributes about 8-10% of the Agricultural GDP and 5% of the National Gross Domestic Product and has been a key contributor to poverty reduction, especially in rural areas.”

“We are yet to take full advantage of the regional markets under our influence and have in recent times spent huge amounts of forex on importation of products that can be produced effortlessly in the country.

“Importation of dairy products where we spend about US$1.3 Billion annually according to the CBN (2019) is a prominent example of the above narrative”, he said.

Earlier in a goodwill message, the Country Director, World Bank, Dr Shubham Chadhri, said that the programme is designed to realize the full potential in the livestock sector in Nigeria, and urged state governments to key into it, while commending the Buhari-led administration for initiating the NLTP and its implementation.

Chadhri further stated that if the NLTP is properly implemented and sustained across the nation it would go a long way to reduce poverty, unemployment, and boost growth of the nation’s GDP.

He also assured World Bank’s commitment to partner with the Federal and State Governments for the realization of the L-PRES project in Nigeria.

Meanwhile, in a presentation on update of the L-PRES Project Preparation, Director, Animal Husbandry Services Department, Dr Winnie Lai- Solarin, made it known to State Commissioners and participants that the Federal Government and the World Bank are ready to have the project takeoff in 2022.

She also appealed to the State Governments to facilitate the project implementation by increasing their budgetary allocation for livestock development, giving adequate state counterpart financing and providing office spaces, vehicles, and other basic facilities to demonstrate their commitment and readiness to implement the project in their states.

According to her, 28 States and the FCT have expressed interest in the project, appealing to others to take advantage and identify with the project.

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