Headline

Top 10 Things Nigerians Spend Their Money On Amid Hardship

Published

11 months ago

November 9, 2024

Editor

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

Antitrust Trial: US Asks Court To Break Up Google’s Ad Business

Published

17 hours ago

September 22, 2025

Editor

Google faces a fresh federal court test on Monday as US government lawyers ask a judge to order the breakup of the search engine giant’s ad technology business.

The lawsuit is Google’s second such test this year, following a similar government demand to split up its empire that was shot down by a judge earlier this month.

Monday’s case focuses specifically on Google’s ad tech “stack” — the tools that website publishers use to sell ads and that advertisers use to buy them.

In a landmark decision earlier this year, Federal Judge Leonie Brinkema agreed with the US Department of Justice (DOJ) that Google maintained an illegal grip on this market.

Monday’s trial is set to determine what penalties and changes Google must implement to undo its monopoly.

According to filings, the US government will argue that Google should spin off its ad publisher and exchange operations. The DOJ will also ask that after the divestitures are complete, Google be banned from operating an ad exchange for 10 years.

Google will argue that the divestiture demands go far beyond the court’s findings, are technically unfeasible, and would be harmful to the market and smaller businesses.

“We’ve said from the start that DOJ’s case misunderstands how digital advertising works and ignores how the landscape has dramatically evolved, with increasing competition and new entrants,” said Lee-Anne Mulholland, Google’s Vice President of Regulatory Affairs.

In a similar case in Europe, the European Commission, the EU’s antitrust enforcer, earlier this month fined Google 2.95 billion euros ($3.47 billion) over its control of the ad tech market.

Brussels ordered behavioral changes, drawing criticism that it was going easy on Google as it had previously indicated that a divestiture may be necessary.

This remedy phase of the US trial follows a first trial that found Google operated an illegal monopoly. It is expected to last about a week, with the court set to meet again for closing arguments a few weeks later.

The trial begins in the same month that a separate judge rejected a government demand that Google divest its Chrome browser, in an opinion that was largely seen as a victory for the tech giant.

That was part of a different case, also brought by the US Department of Justice, in which the tech giant was found responsible for operating an illegal monopoly, this time in the online search space.

Instead of a major breakup of its business, Google was required to share data with rivals as part of its remedies.

The US government had pushed for Chrome’s divestment, arguing the browser serves as a crucial gateway to the internet that brings in a third of all Google web searches.

Shares in Google-parent Alphabet have skyrocketed by more than 20 percent since that decision.

Judge Brinkema has said in pre-trial hearings that she will closely examine the outcome of the search trial when assessing her path forward in her own case.

These cases are part of a broader bipartisan government campaign against the world’s largest technology companies. The US currently has five pending antitrust cases against such companies.

AFP

Headline

Google Faces Court Battle Over Breakup Of Ad Tech Business

Published

18 hours ago

September 22, 2025

Editor

Google faces a fresh federal court test on Monday as US government lawyers ask a judge to order the breakup of the search engine giant’s ad technology business.

The lawsuit is Google’s second such test this year after the California-based tech juggernaut saw a similar government demand to split up its empire shot down by a judge earlier this month.

Monday’s case focuses specifically on Google’s ad tech “stack” — the tools that website publishers use to sell ads and that advertisers use to buy them.

In a landmark decision earlier this year, Federal Judge Leonie Brinkema agreed with the US Department of Justice (DOJ) that Google maintained an illegal grip on this market.
Monday’s trial is set to determine what penalties and changes Google must implement to undo its monopoly.

Google will argue that the divestiture demands go far beyond the court’s findings, are technically unfeasible, and would be harmful to the market and smaller businesses.

In a similar case in Europe, the European Commission, the EU’s antitrust enforcer, earlier this month fined Google 2.95 billion euros ($3.47 billion) over its control of the ad tech market.
Brussels ordered behavioral changes, drawing criticism that it was going easy on Google as it had previously indicated that a divestiture may be necessary.

The trial begins in the same month that a separate judge rejected a government demand that Google divest its Chrome browser, in an opinion that was largely seen as a victory for the tech giant.

That was part of a different case, also brought by the US Department of Justice, in which the tech giant was found responsible for operating an illegal monopoly, this time in the online search space.
Instead of a major breakup of its business, Google was required to share data with rivals as part of its remedies.

The US government had pushed for Chrome’s divestment, arguing the browser serves as a crucial gateway to the internet that brings in a third of all Google web searches.
Shares in Google-parent Alphabet have skyrocketed by more than 20 percent since that decision.

Judge Brinkema has said in pre-trial hearings that she will closely examine the outcome of the search trial when assessing her path forward in her own case.

These cases are part of a broader bipartisan government campaign against the world’s largest technology companies. The US currently has five pending antitrust cases against such companies.

Headline

Peru Anti-government Protesters Clash With Police

Published

2 days ago

September 21, 2025

Editor

Hundreds of anti-government protesters clashed with police in the Peruvian capital Lima on Saturday, throwing stones and sticks as officers fired tear gas on the demonstrators, AFP journalists reported.

The protest, organized by a youth collective called “Generation Z”, is part of growing social unrest in Peru against organized crime, corruption in public office, and a recent pension reform.

“Today, there is less democracy than before. It’s getting worse… because of fear, because of extortion,” said 54-year-old protester Gladys, who declined to give her last name.

Around 500 people gathered in the city center, under heavy police presence.

“Congress has no credibility, it doesn’t even have the approval of the people… It is wreaking havoc in this country,” said protester Celene Amasifuen.

The clashes broke out as demonstrators tried to approach executive and congressional buildings in Lima.

The radio station Exitosa said that its reporter and a cameraman were hit by pellets, commonly fired by law enforcement.

Police said at least three officers were wounded.

Approval ratings for President Dina Boluarte, whose term ends next year, have plummeted amid rising extortion and organized crime cases.

Several opinion polls show the government and conservative-majority Congress are seen by many as corrupt institutions.

This week, the legislature passed a law requiring young adults to join a private pension fund, despite many facing a precarious working environment.