From ₦24k to ₦164k: The simple gold lesson every Nigerian must learn
August 15, 2025
Let’s gist.
Back in 2021, if you held ₦24,000 in your account, today that same money is almost useless in value terms. It can’t buy what it used to. But do you know what ₦24,000 could have done for you back then? It could have bought you 1 gram of gold.
Fast forward to today, that same 1 gram of gold is now worth around ₦164,000. Same Nigeria. Same inflation. Same economy. The only difference? One person spent the ₦24k on vibes, while another multiplied it quietly.
Now, imagine someone who had ₦9 million in 2021 and bought gold at ₦27k per gram. Today, their stash is worth ₦61 million+.
That, my friend, is the quiet power of gold. Preservation. Peace of mind. Generational wealth.
Some people still think gold is only for rings, necklaces, or Yoruba owambe brides. That’s a limited view. Gold is much more than jewellery. It is one of the oldest and smartest shields against inflation in the world.
Why? Because gold is rare. It’s not something you manufacture in a factory or print like naira. It’s mined deep from the earth, purified, and it lasts for generations. That’s why central banks, billionaires, and even your wise grandmother stash it.
If you’ve been struggling with the rising cost of garri, fuel, or rent, this is one way to fight back. Gold gives your money backbone in a weak economy.
Two smart ways to own gold in Nigeria
The good news is, you don’t have to be Dangote or Adenuga to plug into gold. There are two easy routes:
- Physical gold – Bars or coins. Please, not jewellery. Jewels come with design costs that reduce resale value. Bars or coins are pure, stamped, and easily tradable.
- Digital gold – Platforms like SANU Coin or global ETFs (e.g., GLD, IAU). Here, you don’t hold the gold physically, but your ownership is recorded and linked to real gold stored in vaults. It’s like saving in gold without stress.
Both options are powerful, depending on your lifestyle and goals.
Where to buy real gold in Nigeria
Now, let’s be clear: don’t buy gold from roadside sellers. Shine your eyes. Fake gold dey plenty.
Here are trusted options:
🥇 Dukia Gold – They sell certified gold bars, even offer offshore vaults.
🥇 SANU Coin – You can start with as little as ₦5,000. Perfect for beginners.
Always ask for proof of authenticity and keep your certificates.
If you want dollar-based exposure, you can also use apps like Bamboo or Trove. Search for:
- GLD (SPDR Gold Trust)
- IAU (iShares Gold)
They follow global gold prices in USD. That way, you’re not just fighting inflation in Nigeria, but also protecting your money globally.
How to know if your gold is real
Quick test:
✅ Look for stamps like 999 or 916 (purity marks)
✅ It should come with a certificate of purity
✅ It sinks in water
✅ It’s not magnetic
✅ Best of all, get it tested by professionals
Bottom line: don’t just believe anybody.
How to start today
Here’s the playbook if you want to plug into gold now:
- Pick your path – Physical gold (bars/coins) or digital gold (SANU Coin, ETFs).
- Open an account – Dukia or SANU for local, Bamboo/Trove for global.
- Fund it – Start with ₦5,000, ₦50,000, or ₦500,000. Just start.
- Buy and keep – Gold is not for quick flipping. It’s a long-term shield.
- Add monthly – Build your gold stash like a savings account. Small drops make an ocean.
The secret is consistency. Don’t wait for “plenty money” before you start. Even ₦5k monthly into digital gold adds up. In 2–3 years, you’ll look back and thank yourself.
Why this matters for you now
Look around: food is expensive, rent is rising, naira is shaky. If you just leave your money in the bank, inflation will keep eating it like suya pepper. But if you park part of it in gold, you’re protecting it.
It’s like building a financial wall against poverty.
And guess what? Gold doesn’t just preserve wealth; it can grow it. The same way that ₦24k in 2021 is now ₦164k in 2025, your small steps today can turn into something generational.
“The gold of that land is good; aromatic resin and onyx stone are also there.” Genesis 2:12
From the very beginning, gold has been recognized as valuable. Even the wise men brought gold to Jesus. Why? Because gold is a timeless store of value.
So, if kings, priests, and nations take gold seriously, why shouldn’t you?
Don’t overthink it. Don’t wait for the perfect time. The best time to start was yesterday. The next best time is now.
Start with what you have. Buy a gram, buy digital gold, buy a small unit. Just begin.
Because we don’t grow by learning alone.
We grow by doing.
Grab the gist?
