Nigerian recording artiste and entertainer Segun Johnson has sparked reactions after saying the meaning of being a millionaire has changed because of current economic realities.
Speaking in a conversation, Segun noted that there was a time when having ₦30 million was enough to be considered a millionaire, but said things have changed drastically today.
According to him, having ₦100 million today does not necessarily mean someone can be regarded as a millionaire by modern standards.
“Back then in those days, if you have 30 million, you are actually a millionaire. In this present age, if you don’t have $1 million, you are broke; you are not a millionaire. That’s the truth,” he said.
Segun further stressed that many people do not understand how much financial standards have changed, adding that simply having one million naira does not mean someone has achieved millionaire status.
“The fact that you have 100 million doesn’t make you a millionaire,” he added.
The singer also joked that someone with ₦1 million could be considered wealthy in a particular community, but noted there is still much more to achieve financially.
“But you might be a millionaire among people in Ojota, or probably people in Oworonshoki,” he said.