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Friday, July 19, 2024


by Mitchelle Uzorka

Dr Emi Membere-Otaji on Saturday 27th May 2023 made a presentation at the Rivers Province 8 Redeemer’s men fellowship Breakfast Meeting themed ” Unlocking Divine Wealth.






By definition, there are different types of wealth, be it, physical, mental. spiritual, knowledge. freedom, financial, etc.

However. in the contest of this paper presentation, we will be talking only about financial wealth.

Financial wealth is the value of assets one owns, that have economic utility. Just like a seed planted, which grows into a tree, that flowers and bears fruits, so does our money when applied appropriately becomes wealth that can also grow.


Even our creator, God, has purpose for man’s wealth, which in summary, includes provision for our basic needs, to confirm direction, to give those in need and to illustrate God’s power and care in provision.


While wealth can grow in arithmetic and geometric proportion, it’s important to take cognizance of the fact that there are headwinds challenging wealth creation in times like this.


The nation’s mono product and import dependent economy has been struggling for some years due to many reasons, that includes poor government’s economic management, policy flip flops, corruption, improper rule of law and economic turbulence especially from insecurity, shocks and after shocks of the COVID 19 pandemic and global economic and supply chain challenges.


No wonder the National Bureau of Statistics reports have been abysmal with 2.31% GDP year-on-year in first quarter 2023, February 2023 inflation 21.9% and FX is almost N800 to the dollar. Hence more Nigerians are getting poorer, unemployed and underemployed.

There’s therefore no better time than now for us all to understand and practice the process of wealth creation.




1) Wealth creation and growth starts from the day we start earning income, either from paid employment or any form of self-employment. Setting a certain percentage of all incomes to create wealth.


2) Have a wealth creation mind set.


3) Acquire knowledge from appropriate books, films. presentations, etc.


4) Plan and have a goal for wealth creation.


5) White Down Your Goals – Once a dream is written down, it becomes a goal, Once your goals are achieved, they become realities.

“All our dreams can come true, if we have the courage to pursue them” – Walt Disney.


6) Always Have a Budget – During your financial journey, a budget is absolutely essential. This will allow you to allocate the appropriate funds for expenses, saving, leisure, giving and more. The more you can save or put toward investments and income generation, the faster you can build wealth.


7) Know the difference between needs and wants.


8) Practical Optimism – “Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.” – Helen Keller.

No matter how gloomy your financial situation may currently look. you can turn it around.


9) Play the Long Game – No matter how you build your wealth, it doesn’t happen overnight. Whether most of your savings came from stocks, a large salary, real estate investments or something else, it takes time to grow.

Wealth creation is a patient marathon, not a sprint.


10) Connections Are a Key Wealth-Bullding Strategy -Reach out to like-minded, motivated people. Go to networking events. Build a community of wealthy practitioners around you. The relationships you build now will propel you into a glorious future.


11) Multiple Income Streams – To mitigate against different headwinds, invest your incomes in different investment portfolios, and sectors of the economy. Possibly also in different climes and currencies. That is multiple wealth creation.


12) Risk Management – One of the most important strategies when building wealth is understanding risk. Your ability to build wealth is only as good as your ability to keep it. Avoid risky investments that could jeopardize your financial freedom.


13) Spend Your Time Wisely – “We all get 24 hours a day… It’s up to us what we do with those 24 hours.” Sam Huff


14) Celebrate to Motivate – Put most of your income toward building wealth but set aside a portion to enjoy now. This will motivate you to continually increase your income. It will also allow you to gradually ease into your wealth as you start to enjoy the fruits of your labor.


15)In wealth creation, “Enough is not Enough”.

“I’m not a person who just likes to throw away money. I spend more money on charitable things than myself. Luckily, myself and my children, have been very disciplined.


That’s why if you look at it today, because of the way I run my lifestyle, I don’t have any home outside Nigeria. I stay in hotels, Quiet. Simple. My life is not very lavish, and I get very embarrassed if I try to show that I have money. I don’t

• Alhaji Aliko Dangote – Richest Man in Africa




While it is advisable to speak to an investment adviser or those who know, assets can be in the form of:


1) Financial Market Instruments


a) Money Markets instruments are used for short-term borrowing by companies and governments

– savings. bonds, mutual funds, treasury bills. etc. Fixed income investment instruments.

b) Capital Markets used for long term securities – stocks, bonds. debentures. Risk is higher, returns maybe more and the instrument can be actively or passively traded. Though the latter preferable for many people.


2) Real Estate of Economic Value


3) Trusts


4) Pension Plan


5) Annuitles Plan


6) Entrepreneurship


7) Solid Minerals like gold


8. Equities in private companies


9) Physical assets like. art works. equipment etc. of economic value.




Wealth creation is a deliberate and conscious effort to ensure financial security from one’s active income earning years even unto retirement. Its available and applicable to both high and low income earners, but in multiple streams. The difference is only in the capacity.

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