Headline

Top 10 Things Nigerians Spend Their Money On Amid Hardship

Published

2 years ago

November 9, 2024

In Nigeria, many families face economic challenges, making careful budgeting important amid the high cost of essential expenses.

Currently, less than half of Nigerians are reported to have any savings. According to the PiggyVest savings report, 43% do not save at all.

The report also reveals that about one-third of Nigerians earn less than N100,000 (around $61) per month. In terms of spending, 33% of Nigerians spend about N50,000 ($30) monthly, while 35% spend between N50,000 and N99,000 (up to $55).

Another 19% spend between N100,000 and N199,000 (up to $121), and 10% spend between N200,000 ($122) and N499,000 ($304). Only 2% spend between N500,000 ($304) and N999,000 ($608) each month while 1% of Nigerians spend N1 million ($609) monthly.

Here’s a look at the top ten monthly expenses Nigerians focus on in 2024:

1. Food and Groceries – 83%

Food is the biggest expense for most Nigerians. Rising food prices mean families spend about 83% of their income on groceries to cover basic meals. Even with the high costs, food remains the top priority.

2. Transport – 48%

Transportation costs take a large part of the budget. Many Nigerians commute daily to work, school, or other places, spending nearly half their income on transport fares or fuel for their vehicles.

3. Bills and Utilities – 38%

Keeping the lights on and covering other utilities like water and internet is also a major cost. About 38% of monthly income goes toward electricity, generator fuel, and other necessary household services.

4. Clothing – 35%

Clothing is still a priority for many Nigerians, even in tough times. People spend around 35% of their money on clothes and personal appearance, as cultural and social events often require formal or new attire.

5. Childcare – 24%

Childcare is essential for many Nigerian working parents with around 24% of their money going to daycare, nanny services, and other child support options.

6. Housing – 23%

Housing costs, like rent and maintenance, take up 23% of the budget for many Nigerian families. Rent is a necessary monthly expense, and finding affordable housing can be challenging, especially in big cities.

7. Healthcare – 18%

Healthcare is another important expense, using up about 18% of monthly income. With limited affordable healthcare options, many rely on private clinics and pharmacies, which can be costly.

8. Education – 14%

Education is highly valued in Nigeria. Families spend about 14% of their income on school fees, supplies, and other educational costs, seeing it as an investment in their children’s future.

9. Family Support – 11%

Supporting family members is common in Nigerian culture. Around 11% of income goes to help extended family, whether through remittances, emergency help, or support for elderly relatives.

10. Clubs and Social Activities – 8%

Despite financial struggles, Nigerians still enjoy social gatherings. People spend about 8% of their income on clubs and social activities.

Headline

‘Pioneer Of Cable TV News’: Key Facts About CNN Founder, Ted Turner

Published

1 week ago

May 9, 2026

Editor

Ted Turner, the media businessman who founded CNN died at the age of 87. He died peacefully on Wednesday, surrounded by family, according to Turner Enterprises.

Contents

Launched 24-hour news television

Built a media network

Expanded through sports

Recognition and influence

Philanthropy and global causes

Environmental efforts

Health and later years

Early career path

Leadership and legacy

Personal life

Exit from business

Family

Below are key facts about his life and impact:

Launched 24-hour news television

Turner founded CNN on June 1, 1980, introducing the first 24-hour news channel and changing how audiences follow global events.

Built a media network

He moved from billboards into broadcasting, turning an Atlanta TV station into a national superstation in 1976. His business later grew to include CNN International, TNT, Turner Classic Movies and Cartoon Network.

Expanded through sports

Turner invested in sports broadcasting and owned teams including the Atlanta Braves and the Atlanta Hawks, using television to reach wider audiences.

Recognition and influence

In 1991, he was named Time magazine’s Man of the Year for his role in shaping modern news coverage.

Philanthropy and global causes

He founded the United Nations Foundation and supported campaigns against nuclear weapons. In 1997, he pledged $1 billion to the United Nations.

Turner supported conservation work, including reintroducing bison in the United States, and backed environmental education through the “Captain Planet” cartoon.

Health and later years

In 2018, Turner revealed he had Lewy body dementia. He also recovered from a mild case of pneumonia in early 2025.

Early career path

He took over his father’s billboard company at 24 after his father’s death and later expanded into radio and television, despite limited experience in journalism.

“I worked until 7 o’clock, and when I got home the news was over,” he once said. “So I missed television news completely. And I figured there were lots of people like me.”

Leadership and legacy

“Ted was an intensely involved and committed leader, intrepid, fearless and always willing to back a hunch and trust his own judgement,” Mark Thompson, Chairman and CEO of CNN Worldwide, said in a statement. “He was and always will be the presiding spirit of CNN. Ted is the giant on whose shoulders we stand, and we will all take a moment today to recognize him and his impact on our lives and the world.”

Personal life

Turner married actress Jane Fonda in 1991, and they later divorced after 10 years, though they remained close.

“I would never love anyone like I love him,” she said. “But I just couldn’t keep moving in his world, along the surface for the rest of my life. I knew that I would get to the end of my life and regret not doing the things that I also needed to do for me.”

Exit from business

He sold his company to Time Warner in 1996 and later stepped away following its merger with AOL.

Reflecting on his life, Turner once said: “I lost Jane. I lost my job here. I lost my fortune, most of it. Got a billion or two left. You can get by on that if you economize.”

Family

He is survived by his five children, 14 grandchildren and two great-grandchildren.

Headline

Iran’s Nationwide Internet Shutdown Hits 70 Days

Published

1 week ago

May 9, 2026

Editor

NetBlocks, a monitoring group, has disclosed that an internet shutdown enforced by the Iranian regime has entered its 70th day, severing key access from swathes of the population under the shadow of war.

NetBlocks reported on Friday that the blackout has now surpassed 1,656 hours, marking more than two months since US-Israeli strikes pounded Tehran and escalated across the Middle East.

“Digital connectivity is vital in times of crisis,” NetBlocks said in a post on X. “Limiting service harms those most in need – people with disabilities, students, small businesses and the general public.”

According to CNN, Iran imposed a separate internet shutdown on the country’s 92 million people earlier this year, when it launched the most lethal crackdown on anti-government protesters since the Islamic Republic’s founding 47 years ago.

CNN further reports that the latest blackout has cut off another potential lifeline for Iranian residents faced with high unemployment and economic pressure exacerbated by the US-Israeli campaign.

(CNN)

Headline

Gas Prices In US Edge Down After Two Weeks Of Increases

Published

1 week ago

May 9, 2026

Editor

The cost of a gallon of regular gas in the United States (US) has edged down a little more than a penny to $4.55.

According to AAA’s readings, this marks the first decline in the average gas price after 15 straight days of increases.

The decline is minuscule compared to the large increases in gas prices over the last two weeks.

According to CNN, gasoline costs rose an average of nearly 4 cents a day during that period and had several daily increases of between 7 and 9 cents.

Also Read: Trump insists US-Iran ceasefire intact despite recent exchange of fire

CNN also reports that based on past gas spikes, it will likely take weeks for gas prices to get down below $4 a gallon.

The report, however, states that a previous two-week stretch of gas price declines only shaved 14 cents off the average price, taking the average price to $4.02, before the recent 15-day run of increases.

According to CNN, it could take months for the average price to fall below $3 per gallon, as it did before the war in Iran.

CNN further reports that only one state – Oklahoma – now has an average price of less than $4 a gallon, and its average stands at $3.98. California has the highest average price at $6.16.

(CNN)