VIDEO: How to become billionaire by investing in 100 food vendors — Ubi Franklin

Nigerian music executive and entrepreneur Ubi Franklin has suggested that investing in small-scale food vendors could potentially generate billions of naira.

Franklin in an interview, made the claim while discussing the amount of money circulating within Nigeria’s informal economy, particularly among unbanked food vendors operating in busy areas.

According to him, individuals living in populated areas could identify food vendors, popularly known as “mama put” operators, and provide them with capital to expand their daily businesses.

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He said: “You see, the unbanked, the money in the unbanked is a lot. So, anybody watching this video, if you are living on the mainland or in a populated area where all these mama puts come to give food at the car, motor park, you can be a billionaire just investing in 500 of them.”

Franklin explained that an investor could give a food vendor N50,000 as capital and receive a portion of the vendor’s daily returns.

Using a hypothetical example, he claimed that a vendor who spends about N30,000 to prepare food could make significantly more from the sales.

He said, “Give them 50k, and every day come back and—do you know how much they make every day? Let’s say they use 30k to cook food. Those guys make almost 250%.”

Franklin then calculated the potential returns from collecting ₦50,000 daily from one vendor.

He said: “And every day you are taking 50k from them. Calculate 50k daily times 365 days.”

When his co-speaker pointed out that the figure was for just one person, Franklin agreed, before scaling up the calculation.

He added, “Let’s say you invested in 100. That’s 1.8 billion.”