This 5 Things Consume Nigerians Money on Daily Basis – – like most people use to say;

It’s not your earnings that makes you rich but your spending habits.

When people complain about hardship and lack of money, they forget to look back at how they spent the last money earned.

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There are some little things people spend money on without knowing that accumulation of those little things will amount to large expenses thereby rendering someone penniless.

In today’s global economy, lack of money is almost everywhere in the world.

Therefore, you need to be cautious of the way and manner of spending your money and what you spend it on.

Though most of this things might be necessities, we still need to be prudent.



Below are top 5 things that drains Nigerians bank account

1. Mobile Phones

No doubt, mobile phones are important to our daily life but the struggle to use latest mobile phone gadget pose a major threat to financial status of many Nigerians.

Research had it that an average Nigerian change phone at least twice in a year or more. Some people go as far as using their life savings to buy latest phone just to level up with mates.

Somebody using iPhone 8 wants to upgrade to iPhone X when another iPhone XI is already in market. At the end of the day, these phones still serve almost the same function, with little or no difference.

2. Recharge Cards For Call & Data

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Changing phones like clothes is not enough but recharging the phones for calls and browsing is another money draining ways we spend too much money on.

In all indications, network providers are benefiting immensely from spending habit of Nigerians when it comes to recharging and data consumption. An average Nigerian spend over ₦5,000 on data monthly.

We wish to spend less on Data but Instagram Videos, YouTube Videos, Facebook Videos, Whatsapp Status and the rest won’t let us.

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3. Fueling Generator & Car

It’s sad that Nigeria is a country where you will use over N12,000 fuel just to enjoy your N2,000 GOTV subscription.

Poor power supply in Nigeria is draining the pockets of everyone and the fact that you will still have to pay PHED bill again after spending much on fuel makes the country more frustrating.

For those that have car too, with ₦145 per liter fuel rates, it is less expensive to use Public transport than a Private car.

4. Alcohol

Taking a look at records of Alcohol consumption in Nigeria in past years, it is quite obvious that Nigerians spend more on alcohol consumption.

As a matter of fact, guys are now balling with no budget.

5. Transportation

Only Lagosians will understand that transportation takes away a larger part of one’s income.

Many people work far away from home, so going to work everyday drains money.

Thank You All For Reading

Now The Question Is 👇

Which Of The Above Drains Your Income The Most?

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What Other Things Do You Think Should Be Added To This List?

Drop your comment!



A passionate web developer, tech blogger and Blockchain enthusiast... I love giving solutions through my writings on my leisure time. Feel free to reach me via email for collaboration etc.
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