5 Things Nigerians Love Spending Money On

Money is a necessary part of living in most parts of the world and Nigeria is no exception. Has it ever crossed your mind to know the major things that gulp money from the pockets of many Nigerians?

Even if you’ve never thought about it, there’s a bit of curiosity on your part now that you are here. And this article – based on our research – will help you realise what you probably think is irrelevant.

If your curiosity has shot up the roof at this point, we won’t delay you any further. Here are the five major things that Nigerians love spending money on.

Smartphones

The keyword we are looking at here is Love not Must. So if you are wondering why smartphones are up here, it’s because it is a status symbol for many Nigerians. You don’t believe us? Take a look at your smartphone and that of the person sitting next to you. And then also look at that of the person sitting opposite you. You still don’t get it?

Well, smartphones – a luxury smartphone – is not just an item Nigerians will buy because they can afford to, but because they love to. Why? While there are functional benefits of buying a luxury smartphone, the major reason is purely sentimental. First, there is a social status symbol it confers upon the owner. Second, it has a high resale value. So what’s not to love about splashing a considerable amount of money on a high-end phone?

Data

If we’ve mentioned smartphones, then it’s only logical that data would follow. Without data, a smartphone is basically an advanced calculator (you don’t have to agree if you don’t want to). But can you honestly answer this: what are the functions you can perform on your smartphone without data?

Now answer this: what are the functions you can't perform without data? Don’t be surprised. In 2022, data is the equivalent of water.

Also, remember that you can easily buy data without stress on PayXpress.

Food

If data is the equivalent of water, then you can imagine what food is. Food has been and will always be important. And while food is essential for survival, most food lovers will tell you that this is what they love spending their money on. Trying out new restaurants, cooking – and inventing – new recipes: all these gulp money and food lovers just can’t say no.

Recreation

If there’s one thing Nigerians love spending money on, it is recreation. During public holidays, cinemas, malls, and beach resorts are often crowded.

It’s also no wonder that asoebi parties are common. It’s for no other reason than the fact that Nigerians are social people who love to have fun and wouldn’t mind spending a huge chunk of their income on recreational activities.

RELATED: 3 Young Nigerians Share What Takes Up Most of Their Money

Travel

Don’t be surprised that this is on the list. Nigerians don’t like to be confined to one location. It has become a tradition for Nigerians to travel to their hometowns during Christmas. Whether for work or vacation, Nigerians love to spend good money on travel.

Is there anything that you think should have been on this list? You can tell us in the comments below.