MoneyStory: Tech bro leaves ₦400,000 salary for a ₦150,000 stipend

Age: 34

Occupation: Software Engineering Fellow, Learn2Earn

Location: Lagos

Rent: ₦0 (living with family)

Monthly Income: ₦150,000 (training stipend)

Total Savings: ₦4.1 million

How did you earn your first income?

My first income was a wage for a job I did a long time ago. I helped offload a container and got paid ₦1,000 or maybe ₦2,000. Either way, it was big money at the time. I remember how happy I was.

Your savings are over ₦4 million, but your current income is ₦150k. How did that happen?

For the past year, I haven’t really been working , just training. I didn’t save ₦4 million on a ₦150k income. That amount represents my life savings. I only started earning ₦150k this February, and it’s not even a salary, it’s a training stipend. I haven’t saved anything from it, and I haven’t even received any payment yet. Before this, I worked at two different companies. In my first role, I earned ₦250k monthly. In the second, my salary grew from ₦300k to ₦400k over three years. For the past year, I haven’t really been working , just training and upskilling full-time.

Why did you leave a ₦400k job for a ₦150k fellowship? That’s a huge financial risk.

It really was. And yes, it looks like a downgrade. I joined my first Job because I wanted to learn software engineering. They build systems for labs and hospitals, but I wasn’t learning software engineering, I was learning computer networking. Later, I got a job in Abuja as an IT Support Assistant at my second Job. Within two years, I became the head of my department and my salary increased. But even then, I wasn’t progressing in software engineering. I bought courses, but they were a waste of money and time. I barely even opened them. Meanwhile, I had friends who were software engineers earning three times my salary. They told me plainly: if you acquire these skills, you already have a job waiting.

That pushed me. I went for a six-month training in Lagos that didn’t work out, and now I’m in this fellowship. Funny thing is, the people in Abuja still call me till today, expecting me to come back. Was it risky? Yes. Was it stupid? Absolutely. Did I think it through properly? No. Do I regret it? Not for a second. If you don’t step up to achieve your dreams, you’ll end up helping other people achieve theirs. For me, it was about going all out. You either go hard or go home.

Did your savings give you the confidence to take that risk?

Honestly, yes and in a deceptive way. One thing I wouldn’t advise anyone to do is make rash decisions just because they have savings. It made me feel like I could do and undo anything. When I moved to Abuja, I didn’t know anyone. I didn’t have a house or anything. But because I had money saved, I felt bold enough to make those decisions. When I came back to Lagos, my family insisted I stay at home, so I didn’t have to pay rent. But the money I spent from my savings early on affected me. I had to quickly pull myself back. If I hadn’t done that, I probably wouldn’t have a dime to my name today. So you really have to be careful, both in the short and long term.

How do you handle peer pressure around spending and lifestyle?

I’m not very social, so I don’t spend much naturally. I don’t party. I do give gifts, but only to a few people I really care about. I live a very quiet life. I can also be very critical with myself, so now I plan my expenses carefully.

What does wealth mean to you?

Comfort, security, freedom, legacy. I want financial freedom. But I’m not obsessed with my net worth. What matters more to me is being able to need something and not stress about how to get it. And beyond that, I want to make real impact to genuinely change the world.

How much do you spend on feeding monthly?

Nothing. I don’t eat outside. Maybe snacks from specific places once in a while, or “The Place” occasionally ,but generally, I eat at home.

Since your Rent and Feeding is covered, what do you actually spend your money on?

Right now? Nothing really. Sometimes when I go out, I buy small things, but that’s about it.

If you had ₦10 million today, what would you do with it?

I would invest it in Prodev Agri Invest. I worked there, and my family already has investments with them. If I had more than ₦10 million, I’d still invest it there.

On a scale of 1–10, how financially happy are you?

A 2. I’m not happy. I hate salaries. I hate waiting, calculating what I’ll save and what I’ll spend ,even though I’ve never really lacked anything.