As critics and investment analysts continue to warn Nigerians about MMM Nigeria, i spent the last few months understanding their point of view and researching the alternatives these critics suggest. There are several alternatives but throughout my research the recurring question was “are there better alternatives, not in terms of financial returns but as regards safety of investment”.
STOCK MARKET (SHARES) VS MMM
It should actually not be “stock market versus MMM” because MMM has put Nigerians in a positive mood, and this kind of mood encourages people to spend more and invest more. This is good news for the stock market. As companies begin to sell more in a recession, profit will be declared. New millionaires are emerging and they need to diversify, they may be looking at the stock market.
BETTING (SPORT & LOTTO) VS MMM
The kind of people who invest their time and money betting will never look at MMM. While MMM can give 30% more, in some instances betting can give 1000% more or nothing. The people betting are seeking overnight wealth. They are the extremely poor, 30% of their widow’s mite wouldn’t make any difference. However, as MMM gives Nigerians confidence to spend more, the extremely poor will continue to have a decent cash-flow in a recession; this is good news for betting companies. The more money in the hands of the poor, the more they bet some away.
FOREX VS MMM
As the US dollar continues its “shakara”, more and more locally produced and imported daily necessities will increase in price, usually an increase in price means less purchase and close of business but MMM has helped Nigerians to buy even what they couldn’t buy before the recession. This development has help keep jobs, businesses and hope alive. In a recession, malls and stores should be scanty but this isn’t the case in Nigeria.
WHEN WILL THE PARTY BE OVER?
Hmmm… That is like asking when the world will be end or when world war three will begin. No one knows but everyone knows that MMM is sustained by the activities of its participants. The creators of MMM have made scamming Nigerians an extremely difficult if not impossible task because Nigerians donate money to themselves through their bank account.
We all know one person who has lost money in the stock market, forex and betting; we also know one person who has made money in the stock market, forex and betting. Such is life, life itself is a risk.
What is true is MMM has created a platform that has kept many in school, shelters, business and employment.
By: Kolawole Emmanuel