What are people doing wrong that's keeping them broke in Nigeria?

1. Living Beyond Their Means

Spending money to “look rich” instead of building wealth. This includes buying expensive clothes, phones, and cars with no assets or savings to back it up.

2. Lack of Financial Education

Many people don’t understand budgeting, saving, investing, or how interest and debt work — so they fall into financial traps easily.

3. Relying Solely on One Income Source

Depending only on a 9–5 (or worse, an unstable job) with no side hustle, skills, or investments increases vulnerability.

4. Getting Trapped by “Get Rich Quick” Schemes

Ponzi schemes, fake crypto deals, and fast money traps are everywhere. People looking for shortcuts often lose everything.

5. Not Investing in Themselves

Skipping opportunities to learn new skills or grow professionally. In a competitive economy, growth is key to escaping poverty.

6. Pressure from Family & Society

Cultural and social expectations (e.g., “send money home,” “do wedding like this,” “you must build a house”) often drain finances before wealth is built.

7. Ignoring Long-Term Planning

No savings, no retirement plan, no health insurance. One emergency can wipe out years of effort.

8. Blaming the System but Not Adapting

Yes, the Nigerian system is tough — corruption, lack of jobs, inflation — but many stay stuck waiting for things to change instead of pivoting, adapting, or finding alternative ways to grow.