By Sulyman Pakoyi, Mujeebah Shittu & Omowumi Oyewumi

Nigeria’s economy is  experiencing significant inflationary pressures; many  have had to adjust spending habits. The rising cost of living has affected everyone, from students to working professionals, entrepreneurs, and families. As a result, Nigerians have had to prioritize their expenses, making tough choices about what to spend on and what to cut back on.

 From food and transportation to data and other necessities, Nigerians share their stories of financial resilience in the face of economic uncertainty, revealing the creative ways they’ve found to stretch their budgets and make the most of their hard-earned money.

The Hope Weekend asked: What’s the one thing Nigerians have spent the most money on this year? Here’s what they had to say:

Rahmon Saheed

Transportation, that’s what I’ve spent my money on the most this year. With the constant increase in fuel prices and transportation costs, it’s been a challenge to move around the city.
I rely on public transportation to get to work, school, and other important destinations, and the fares seem to be going up every month. Because of the costs, I had to prioritize transportation because it’s essential for my daily life. Whether it’s commuting to work, visiting family and friends, or running errands, transportation is a necessary expense that I couldn’t do without.

I’ve spent much of my money on data subscriptions this year. With the rise of remote work and online learning, staying connected has become essential.
I need data to stay in touch with colleagues, clients, and friends, as well as to access important information and resources.

Bolajoko Ameerah Ayinke

This year, my spending was all about intentional living and personal growth. I invested in online courses to sharpen my skills and expand my horizons. Skincare and stylish outfits became my way of embracing self-confidence and self-care.
I indulge in treats that remind me to celebrate life’s little victories and make priceless memories hanging out with friends. Every naira spent is a step toward becoming the best version of myself, inside and out.

Adeshola Ogunowo

Food and data are definitely my top expenses this year. Living in Nigeria, it’s no secret that food prices have skyrocketed, and eating out or buying take- aways has become a costly habit.
But let’s be real, sometimes it’s just more convenient to grab something on the go. And with the way data prices are, it feels like I’m always topping up my phone. Between staying in touch with family and friends, checking emails, and staying online for work, data is a necessity. It’s not ideal, but it’s just the reality of living in today’s digital age.

OKOJIE INEGBENEDION

This year, I’d say a significant chunk of my expenses went towards the running of our church. As an active member of our congregation, I believe in supporting the church’s mission and activities. From tithes and offerings to supporting community outreach programmes, I’ve tried to contribute as much as I can. It’s not just about writing cheques, though. It’s about being part of a community that shares my values and supports one another. Seeing the impact of our church’s work on people’s lives makes every naira count.

Dr. Abdulfatai Hassan Magobon

I spend most of my income on transportation due to the high cost of fuel pump price.

Omope Benjamin

With the current economy in Nigeria, I’ll say I spend more on transportation because it’s the most essential area of one’s life.
The rate at which the cost of transportation increases affects one’s pocket. In Nigeria, the price of fuel determines the price of other commodities. And the transporters just charge based on the high increase of the pump price. Even now, I don’t usually board the bikes (Okada) anymore because the riders charge more than the taxi, bus or Keke Napep. So, transportation consumes more of my income.

Oladimeji Abubakar

Staying connected is crucial for my work and personal life. So, I’ve spent a significant amount on internet services this year.
As a remote worker, I rely on a stable internet connection to meet deadlines, communicate with colleagues and access important resources. Even when I’m not working, I use the internet to stay in touch with family and friends, stay updated on current events, and pursue my hobbies. It’s an essential expense that enables me to stay productive, connected, and informed.

YAHYA AHMAD IMAM

This year, I’ve been saving up for a big purchase: a new smartphone.
My old phone has been slowing down, and I needed an upgrade to stay connected and productive.
I’ve been putting aside a chunk of my income each month, and it’s been a challenge to resist the temptation to spend on other things. But having a reliable phone is essential for my work, social life, and staying informed.

Oyewumi Oyindamola

I spend more on data. Without data on my phone, it feels useless because it’s what I use to pass the time when I’m idle.
In a week, I spend N5,000 on data, and it’s not even for business or making money. It’s just for TikTok and movies.