Democracy Day: How can we build wealth from our small communities?

Tomorrow is Democracy Day in Nigeria, a time to reflect on where we are as a nation and where we hope to be. But this year, my reflections have been a little more personal. Because what is democracy, really, if not the ability to choose how you live and how you contribute?

In a country like ours, many young professionals are navigating the complex middle ground between personal ambition and communal obligation. We want to build wealth, but we’re also paying “black tax.” We’re climbing the ladder, but still holding hands with those coming behind us. And in some cases, we’re the first to make it out or make it through, so there’s the unspoken pressure to show up.

But how do you show up well? How do you support without sinking?

These are questions I have asked myself again and again, and I have concluded that this is where social capital comes in.

In an ideal world, support shouldn’t be a one-way street. The friends in your corner, your community, your network, they should be part of your financial ecosystem too. You don’t always need to “have it all together” to move forward. Sometimes you just need people around you who know how to pull up.

Besides, as I have come to understand in Nigeria, social capital is just as maybe even more important than, financial capital. It is one of the reasons why sometimes, if you are from the Old Lagos Money (Ikoyi, Lagos), all you need to give you access to certain quarters might be your last name, and the new money (Epe, Ibeju-Lekki, Ajah) could never. True, some people living in the new money areas could have more liquid cash due to better management or good business acumen. However, old money seems to always have easier access. Of course, not everyone has money, but everyone has something: time, knowledge, access, referrals, ideas. 

I was listening to Toke Makinwa on a podcast a few days and when asked about friendships, she said she had different ones depending on what values or purposes she needs, and it struck me -  Am I building friendships that also build me? Are my people only showing up for vibes, or are they showing up with value?

Because social capital could literally save your life.

I remember being involved in a road accident not too far from our estate while I was in high school. I’d lost consciousness briefly, and in the heat of the moment, someone recognised me. They took me straight to the hospital where my mum worked. She had travelled out of town that morning, but someone quickly contacted my aunt. I was put under observation, treated, and given all the medication I needed. By the time my mum returned that evening, I was already back home with my drugs and a discharge note.

I remember thinking: “My mum must be a very good person for everyone to rally around me even in her absence.” And truly, she was. But it was more than that; she had spent years depositing in the bank of social capital. Showing up for others, so when it mattered, they showed up for us. That day taught me something I’ll never forget: kindness compounds. Relationships compound also.

Many young people might not agree with me entirely, but I believe some of the most important investments we’ll ever make in personal finance aren’t stocks or real estate, they’re relationships and not the opportunistic vertical one we often try to cultivate with hopes to cut through the red tape but the horizontal ones. The ones that don’t seem to pay much in the moment. The one where your friends send you growth opportunities to build, pivot or recover.

I often think about the Igbo Apprenticeship System, beautifully captured in Hero Lager’s The Hero’s Walk campaign. It’s a documentary for anyone thinking seriously about community wealth. Because it illustrates something we often forget: you don’t have to be rich to lift someone,  you just need a structure that multiplies effort.

In that model, a trader doesn't just feed or house an apprentice; he teaches him the ropes. He guides him into independence. And that young man, once empowered, becomes the next ladder for someone else. Cue in Ladder, ladder, ladder oh, our Lord Jesus is a Ladder. Lol!

That’s what we need more of. In our families. In our friend groups. As colleagues and professionals.

Helping doesn’t always mean handing out. Sometimes it means helping someone stand so they can stop leaning. It’s the old wisdom: teach them how to fish instead of just giving them fish. It’s slower, yes, but it’s also how you create ripples that last generations.

It’s not always easy. You want to say yes. You want to carry people along, and sometimes, you’re that if that colleague/friend or family member should know what you know, they will surpass, but are you a tree? Can you not move to upskill, advance to a mentor or coach position where your colleagues or mentees are coming to you for advice? And in your way, you offer value in terms of your experience? Even the strongest bridges need pillars beneath them. Your financial plan should include your future, not just your present or past.

And that’s where community comes in.

We talk a lot about personal finance, but collective finance is underrated. Consider starting a wealth club. Create a learning circle. Encourage shared investments. Leverage each other’s knowledge and networks. One person’s breakthrough can be another’s blueprint.

This Democracy Day, I’m reminded that while the government builds roads, we build the routes that carry our people forward. And the best form of freedom is the kind that teaches others to free themselves.