Happy New Year in advance,

You made it to the end of the year with us—thank you again for sticking around!

As I said last week, 2024 has been a wild ride for Nigerians navigating inflation, rising costs of living, and unpredictable economic shifts. Through it all, we kept asking the same questions: What does it mean to earn, save, spend, and invest as a Nigerian? Naira Life has taken us through the highs and lows of money in Nigeria.about what it means to be a Nigerian earning and spending the Naira.

Now, it’s time to reflect on the 10 must-read Naira Life stories of 2024 — they offered fresh perspectives, and some became instant favourites. If you’ve read them before, you should probably reread them.

Also, we’re taking stock and have created a short survey to collect feedback from you. It’s in one of the sections below—please indulge me.

In this letter:

• • #NairaLife: 10 Must-Read Stories in 2024
  • Steal These 5 Nigerians’ Budgeting Hacks for the Festive Season
  • Tell Us How We Did This Year

• QUIZ: How Will You Make Money in 2025?
• Where The Money At?!

We curated a list of the Naira Life stories from this year everyone should absolutely read. If you’ve read it before, read it again.

Find them here

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We’re now nearing the end of the festive season, and we bet it didn’t matter if your December was “detty” or clean; you still spent money.

Now you have to prepare for January’s long days, and that’s where these budgeting hacks come in.

Read here

i-invest is your go-to investment platform, offering up to 24% annual returns on Fixed Deposits and Treasury Bills. You can also buy and sell Nigerian equities on the app and earn up to 15% p.a. on your savings.

Start building wealth the easy way.

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We’ve had so much fun bringing this newsletter to you all year. This dispatch is the last one in 2024, which means it’s prime time to take stock and hear from you.

Please fill the short survey in the link below.

Help us make the newsletter better

Happy Holidays,

First, thank you for sticking with me all year long. This newsletter exists because you decided to make it a part of your Monday routine, and you return every week to see what new stories we have for you. You’re the real MVP!

It’s been another revealing year telling important stories about how Nigerians navigate money. As with the previous years, our agenda with these stories remained the same: answer questions about what it means to be a Nigerian earning and spending the Naira.

This year was also particularly interesting for Nigerians, with inflation hitting new highs and the cost of living skyrocketing to new levels. We covered these elements and more, talking to people across different income levels and job types—from the conventional to the unconventional, the relatable to the aspirational. Multiple patterns also emerged, offering new insights and sparking conversations. We can’t wait to do this again with you next year.

The numbers are out. We published 51 Naira Life stories in 2024, and as the year ends, we want to look at the top 10 stories you couldn’t get enough of.

P.S: We’re not quite done with Love Currency this year and have one final story for you. Let’s dig in.

In this letter:

• • #NairaLife: 10 of the Most-Read Stories in 2024
  • Love Currency: This Social Media Manager Wants Her Close-Fisted Boyfriend to Change or Risk Losing Her
  • I Don’t Mind Starving All Year Long Just to Have Money to Spend in December

• QUIZ: Only Tech Bros Can Identify These Cryptocurrencies by Their Logos
• Where The Money At?!

As 2024 comes to an end, let’s take a look back at the ten #NairaLife stories you loved the most and just couldn’t get enough of.

Find the most-read NairaLife stories

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Tabitha* (29) wants to marry Samuel* (29), but his unwillingness to spend money might be a deal breaker.

For #LoveCurrency, she shares how his reluctance to part with money strains their relationship and why she’s giving him three months to fix up.

Read the full story

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It’s the holidays. People plan for this period all year long, so it’s useful to talk to people about how their end-of-year traditions affect their finances.

Chike (33) shares details about his yearly tradition of spending all his savings on his community in December and why he intends to keep doing that regardless of Nigeria’s dire economic situation.

Read here

Good morning,

A semi-popular quote goes thus, “Your life is often a sum total of your circumstances and choices.” I think this rings true in this week’s #NairaLife.

The lady in this story stumbled into adult content creation after a series of unfortunate events and circumstances. It isn’t the path she imagined for herself, but she’s making the most of it to create a future she can be proud of.

Speaking of unfortunate events, we spoke to a brand designer who lost his job four weeks after spending all his savings on a wedding and a new apartment. He’s been married for two years now, and in that time, he’s had to navigate unemployment and homelessness. What does this mean for a fairy-new marriage?

Let’s get into the stories.

In this letter:

• The Conflicted #NairaLife of an Adult Content Creator
• Love Currency: This Brand Designer’s Marriage Is Recovering From a Financial Crisis
• I’m the Easiest Person to Scam, and It’s Not Funny Anymore
• Ask Aunty M: I’m a Struggling Student With Little to My Name
• QUIZ: Take this Quiz, and We’ll Tell You How Far You Can Go to Make Money
• Where The Money At?!

This 21-year-old stumbled into adult content creation after a series of unfortunate events. One month in, she’s earning more than she ever imagined — but she’s already crafting an exit plan for a future beyond the industry.

i-invest is your go-to investment platform, offering up to 24% annual returns on Fixed Deposits and Treasury Bills. You can also buy and sell Nigerian equities on the app and earn up to 15% p.a. on your savings. Start building wealth the easy way.

Manuel* (30) lost his job four weeks after he got married to Lydia* (26) in 2022. In the two years that have followed, he’s had to navigate unemployment and homelessness in an early marriage.

For #LoveCurrency, he shares how this financial situation affected their relationship and how he and his wife are now trying to rebuild their connection. Read the full story

Trade on Yellow Card and win tickets to see Gladiator 2!

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You’ve probably fallen for at least one scam in your lifetime, but for Adeoti*, the number is far greater.

She talks about falling victim to more scams than usual and what she hopes to do differently so it doesn’t happen again. Read more

I’m a student in my final year at the university. I’ve always struggled through all my years in school, as I had very little financial support from home. The problem is, I have nothing going on with me, financial wise. And I have nothing going idea on what to do, as I have very little to my name. I have very good writing skills, but I don’t know what to do with them or how to start doing things with them, even. What do I do, please? – Jay, 23

Hi Jay, congratulations on making it to your final year of university. This is no easy feat at all, especially with limited support from family. As a student, you are at the perfect point in your career to start asking everybody and anybody for advice and counsel. When you are a student, people are more likely to help you and offer guidance. Take advantage of that!

Since you don’t know what to do with your skills + degree, reach out to people you admire who have careers you find interesting and ask them for 30 minutes of their time to talk. We call this a coffee chat, and in this talk, you will ask them questions about how they got into their line of work, what they do for work, what skills are needed to do the work they do, if they recommend their line of work, and more. You can also explain that you have x,y,z skills and what would they recommend you to do with them?

People have a lot of insight into the type of jobs that would be well suited for you, volunteer opportunities that can help you build your skills and more. Try to book a lot of these calls over the next few months as you lead up to graduation.

Xoxo, Reni

• If you’re here, you probably have a money or work dilemma. Ask your question and we’ll figure out an actionable solution for you.

Answer some questions and we’ll determine just how money-desperate you are.

We can’t say we’re about the money and not actually help you find the money.

So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.

Again, don’t mention. We gatchu.

• SEO Specialist – Reliance Health
• Financial Controller – KPMG Nigeria
• Lead Planning And Design Officer – FiberOne
• Executive Sous Chef – Marriott International
• Utility Manager – Seven-Up Bottling Company
• Customer Retention Manager – M-KOPA

Share this newsletter

All good things must come to an end. But not this good thing. We’ll be back next week.

In the meantime, keep reading Zikoko’s articles and be sure to share the love.

See you next week…

Yours cashly,

Tife,

Your resident money girl

Did someone awesome send this to you?

Happy salary week,

On this week’s #NairaLife, we have a research analyst who faced seven years of unemployment but kept her head above water thanks to smart investments. Her story is a primer in weathering financial storms.

Then, we meet an Abuja teacher who is not about the girlfriend allowance life, and this is a source of conflict in his relationship. What does this mean for him and his partner?

There’s plenty more where that came from. So let’s get into it.

In this letter:

• #NairaLife: How Did This Analyst Survive 7 Years of Unemployment? Investments
• Love Currency:This Abuja Teacher Doesn’t Believe in Girlfriend Allowance
• I Don’t Mind Starving All Year Long Just to Have Money to Spend in December
• Ask Aunty M: I Save 80% to My Salary but I Struggle for the Rest of the Month
• QUIZ: Do You Even Have What It Takes To Be a Nigerian Billionaire?
• Where The Money At?!

This 48-year-old research analyst had just started to find career stability and comfortable income flow when she lost her job in 2016. Fortunately, her safety nets in investments helped her through several years of unemployment.

Now, she’s figuring out how to increase her income again.

This is #NairaLife, episode 300!

Jollof+ is a cutting-edge savings app providing up to 21% net interest rate with no hidden charges. Designed to help combat inflation, Jollof+ offers personalized saving features, ensuring steady financial growth for users.

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Elisha* (28) and his long-distance girlfriend, Beatrice* (24), have different expectations about showing affection. While Beatrice wants grand gestures, Elisha believes in the little things.

One thing he’s sure he’ll never do? Send her a girlfriend allowance.

Read the full story

If you’re looking for the best place in Nigeria to trade stablecoins like USDT and USDC, use Yellow Card.

Yellow Card is very easy to use and usually has the best rates on the market, low fees, and top-notch security.

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Many Nigerians are big on their end-of-year traditions. But how do these affect their finances?

Chike (33) talks about his yearly tradition of spending all his savings on his community in December and why he intends to keep doing that regardless of the economic situation.

Read more

I earn ₦150k/month and put aside ₦120k monthly to rent a place because I set a deadline for myself. I live with my mum, and it’s becoming insufferable. Then I live on ₦30k. But I have to borrow money at the end of the month. Any advice, please? – Cassandra, 28

Hi Cassandra. You borrow money each month because your savings rate is too high compared to your income. You are saving 80% of your income, but that isn’t realistic based on your expenses. ₦30k is nearly impossible to live on unless someone is covering some of your expenses. You need to figure out how much you spend every month. To do so, start tracking your expenses. Write down everything that you spend money on each month. Once you do that – let’s say you figure out that you usually spend ₦60k monthly – have two options.

The first option is to reduce your savings to ₦90k per month so you don’t have to go into debt. This will mean moving out will take you longer, but you won’t be in debt.
If you are steadfast in your decision to move out by your deadline, you need to increase your income. Using the ₦60k example again, look for jobs or a second source of income that can account for the ₦60k you need to live on monthly plus your ₦120k savings, meaning you need to make at least 180k monthly. This will allow you to cover your monthly expenses and save without debt.

Lastly, remember that once you move out, you will incur many more expenses than when you lived at home. I’m not trying to tell you to stay home, but be realistic about how much you will have to spend once you move out, as now all food costs, rent, home maintenance, and more will be on you. I don’t want you to move out and now get into more debt trying to maintain the new home.

Try to increase your income before moving out, and ensure the place you move into is within your means, even if it means getting roommates to lower the costs. I hope this works out.

Xoxo,

Reni

• If you’re here, you probably have a money or work dilemma. Ask your question and we’ll figure out an actionable solution for you.

Make some money decisions and we’ll tell you if you’re Otedola, Dangote or another Nigerian billionaire.

Take the quiz here

We can’t say we’re about the money and not actually help you find the money.

So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.

Again, don’t mention. We gatchu.

• Senior Product Marketer – Kora
• Head, Axa Wealth – Axa Mansard
• Account Reconciliation Officer – Apex Networks
• Specialist, Contracts – IHS Towers
• SEO Specialist – Reliance Health
• Finance Intern – GIG Logistics

Share this newsletter

All good things must come to an end. But not this good thing. We’ll be back next week.

In the
meantime, keep reading Zikoko’s articles and be sure to share the love.

See you next week…

Yours cashly,

Toheeb,

Zikoko’s ‘OG’ Mr. money

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Good morning

It’s another week, and it’s also another reminder that Nigeria’s cost of living feels like a never-ending chokehold. October’s inflation figures are out, and the inflation rate hit 33.8%, up from August’s 32.7%.

How did we get here? According to this report from TechCabal, Flooding in critical agricultural states wiped out food supplies that could’ve fed 8.5 million people. So even though it’s harvest season, there’s little impact on the bottom line. The result? Food inflation has risen to 39.16%, up from 37.77%.

Fuel hikes have also made everything—including transportation—more expensive. Petrol prices have shot past ₦1,000 per litre, and LPG prices are rising faster than ever.

What’s the Central Bank of Nigeria (CBN) doing? In September, it jacked up interest rates by 50 basis points, making loans more expensive—a typical measure to control inflation. Analysts predict another hike is coming next week.

What does all this mean for you? Nothing much has changed, and we can expect that the price of essential items (especially food) will remain high for the foreseeable future.

In this letter:

• #NairaLife: The Student Trying to Build an Empire With Her Allowance
• Love Currency: This Fashion Designer Will Only Get Married if Her Boyfriend Provides for Her Child
• I’m a POS Agent Who’s Just Trying to Survive
• Ask Aunty M: Help, I Can’t Build a Savings Habit
• QUIZ: Only Money Smart Nigerians Will Score 8/11 on This Fintech Logo Quiz
• Where The Money At?!

This 20-year-old has her parents to thank for her early foray into business, and an allowance that allows her to explore her dreams of building a business empire. She’s not quite at “empire” level yet, but she believes she’s on her way.

Right now, she’s pursuing financial stability. In just one year, she’s built her portfolio to ₦1.2m. She isn’t planning to stop now.

Read her #NairaLife here

Jollof+ is a cutting-edge savings app providing up to 21% net interest rate with no hidden charges. Designed to help combat inflation, Jollof+ offers personalized saving features, ensuring steady financial growth for users.

Find out more here

Amanda* (29) has been with Luke* (31) for two years, and the only shadow in their otherwise perfect relationship is Luke’s refusal to take financial responsibility for her child.

For #LoveCurrency, Amanda shares why this might be a deal-breaker for her.

Read the full story

If you’re looking for the best place in Nigeria to trade stablecoins like USDT and USDC, use Yellow Card.

Yellow Card is very easy to use and usually has the best rates on the market, low fees, and top-notch security.

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This POS agent talks about navigating assumptions about agents like him being opportunistic, wanting people to be more understanding and why he intends to stick with the business, even if it’s a little unpopular.

Read here

Help, I can’t develop a savings habit no matter how I try!
I have never saved anything in my life. I always turn to external support, loans, and large instant expenses to solve my problems.

My only income—a ₦96k/month salary—lasts less than a week and barely affords my basic needs.
When I keep money away in a separate account, I run back to withdraw it.
How do I learn how to save? – Nike, 25

Hi Nike.
It’s hard to save when your salary does not cover your basic needs. Sometimes, we have spending problems; other times, we have income problems. You may have both in this case, but I think it’s primarily an income problem. The best thing you can do is focus your efforts on finding a higher-paying job.

While at it, track your spending for the next few months to see how much you are truly spending on your basic needs monthly. Let’s say you’re spending ₦300k/month. You need to target a job that pays you at least ₦400k/month so you can spend on yourself and also afford to save. You can’t afford to save right now because the bills exceed your income.

Increasing your income will truly help you the most in this situation. Once your income increases, ensure you keep your expenses the same. Live as you were currently living. Then, you’ll find that there will be no need to dip into your savings anymore because you have adequate income for your needs and savings goals.

I hope this is a good start. Rooting for you.

Xoxo,

Reni

• If you’re here, you probably have a money or work dilemma. Ask your question and we’ll figure out an actionable solution for you.

Chances are that you use some of these fintech apps.
But can you recognise their logos?

Take the quiz here

We can’t say we’re about the money and not actually help you find the money.

So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.

Again, don’t mention. We gatchu.

• Social Media Manager – Kuda
• Legal Counsel – MaxDrive
• Risk and Compliance Associate – Multigate
• Laboratory Assistant – Covenant University
• Program Manager – The People Practice
• Cybersecurity/ Cloud Security – Credit Direct

Share this newsletter

All good things must come to an end. But not this good thing. We’ll be back next week.

In the
meantime, keep reading Zikoko’s articles and be sure to share the love.

See you next week…

Yours cashly,

Toheeb,

Zikoko’s ‘OG’ Mr. money

Did someone awesome send this to you?

Subscribe to this Newsletter

Good morning

Random, but this week’s #NairaLife is the series’ 298th. If you’ve been a part of this universe long enough, you probably know that a recurring pattern in some of these stories shows how people’s quality of life can flip in unexpected ways. Take, for example, the guy in today’s story. Tough childhood, tough start. But he’s gone from washing clothes to earn an income to scrubbing up as a nurse. His hustle? Relentless. His journey? Unbelievable.

On #LoveCurrency, Tife talked to a woman navigating the emotional and financial turbulence of a marriage that’s not quite what she signed up for. This one is packed with hard choices and doses of heartbreak.

That’s not all in today’s dispatch. Let’s dive in!

In this letter:

• #NairaLife: He Washed Clothes for a Living 4 Years Ago. Now, He’s a Nurse
• Love Currency: The Kaduna Finance Sis Juggling a Failing Marriage and Providing for Her Children on ₦650k/Month
• I Want to Be Like My Mum, but Inflation Is Making That Impossible
• Ask Aunty M: I’m a Corps Member, and I don’t Have a Grip on my Finances
• QUIZ: Only Money Smart Nigerians Will Score 8/11 on This Fintech Logo Quiz
• Where The Money At?!

This 30-year-old had a rough early start, and his #NairaLife has been a series of grabbed opportunities and random luck. He’s been a houseboy, a cyber cafe assistant, a laundryman and now, a nurse earning ₦405k/month.

How did he get here?

Read his #NairaLife here

Jollof+ is a cutting-edge savings app providing up to 21% net interest rate with no hidden charges. Designed to help combat inflation, Jollof+ offers personalized saving features, ensuring steady financial growth for users.

Find out more here

Eni* married Ismah* as a bright-eyed 21-year-old, but it didn’t take long for their financial incompatibility to surface.

For #LoveCurrency, she talks about their different approaches to finances, his rigid expectations and why she doesn’t see herself in his financial plans.

Read more here

If you’re looking for the best place in Nigeria to trade stablecoins like USDT and USDC, use Yellow Card.

Yellow Card is very easy to use and usually has the best rates on the market, low fees, and top-notch security.

Join now!

Inflation has generally made it more difficult to live comfortably in Nigeria, but for Faridah*, it’s robbing her of her mother’s legacy.

She talks about enjoying the fruits of her mother’s generosity to others, deciding to follow in her mother’s footsteps, and how the high cost of living might be changing her values.

Read the full story here

I’m a corps member, earning ₦48k monthly, comprising state and federal allowances. I don’t have a grip on my money. It literally just flies. I found out that I spent ₦15k on airtime and data last month. Halfway into the month, I borrow money from loan apps — usually ₦10k, which I refund as soon as I get my monthly allowance. The money flies, and I can’t pinpoint reasonable things I do with it, except the food items I buy at the beginning of the month; it only sustains me for two weeks. After two weeks, I start to eat out or live on bread/noodles. How do I manage this?
Also, I’m working on landing remote jobs. Even if I get an extra source of income, can please guide me on what to look out for when I start earning more? – Oyin, 22

Hi Oyin! Thanks for writing in. You’re already taking a significant first step by looking into your spending habits, so great job. When you have a limited, fixed income, it can be challenging but thankfully it’s only temporary until you’re done with NYSC. Until then, here are a few adjustments I suggest:

a. Start tracking every kobo:
Since money is flying in and out of your hands and you’re unsure where it’s going, tracking your expenses will help you see precisely how you are spending. You can use an app, a notebook, or a good old spreadsheet to jot down your expenses and income. This helps you identify where you may be overspending and gives you a clear picture of where you can cut back. For example, tracking may lead to the realisation that you have to build the discipline only to spend ₦5k monthly on data, and once it’s exhausted, no more data til the next month.

b. Set a budget with categories:
Create a simple budget based on your monthly income of ₦48k. An example would be:
Essentials (Food, transportation): ₦25k.
Airtime and Data: ₦5k.
Savings or Debt Repayment: ₦5k (save this or set it aside to pay debt).
Miscellaneous: ₦13k.

c. Save before you spend: Get into the habit of saving while making a little so you can save when you make a lot. If ₦5k is what you’re committing to saving every month, it should automatically be taken out when your allowance comes in and goes into your savings account. You can hold this at a separate institution and automate the transfer so we don’t rely on your willpower to save. Put systems in place to support you in the areas you may lack.

d. Avoid debt:
Borrowing ₦10k each month can trap you in a debt cycle. Try setting aside a small amount from your monthly allowance as an “emergency fund.” Even starting with ₦1-₦2k a month can make a difference. This will reduce your need to borrow and give you more financial control.

e. Set financial goals.
It’s easy to spend money when you have no goals for it. As you start to make more money, set goals for your money, such as an emergency fund, car fund, travel fund, or whichever other goal aligns with you personally.

Xoxo,
Reni

• If you’re here, you probably have a money or work dilemma. Ask your question and we’ll figure out an actionable solution for you.

Chances are that you use some of these fintech apps.
But can you recognise their logos?

Take the quiz here

We can’t say we’re about the money and not actually help you find the money.

So we’ve compiled a list of job opportunities for you. Make sure you share this with anyone who might need it because in this community, we look out for each other.

Again, don’t mention. We gatchu.

• Credit Operations Analyst (HeliumCredit) – Helium Health
• Team Lead, SME Underwriting – RenMoney
• Analyst/Associate, KYC Operations – Flutterwave
• Director of Engineering – Radisson Blu Hotels
• Growth Operations Excellence Manager – Max
• Accounting Manager – Moniepoint

Share this newsletter

All good things must come to an end. But not this good thing. We’ll be back next week.

In the
meantime, keep reading Zikoko’s articles and be sure to share the love.

See you next week…

Yours cashly,

Toheeb,

Zikoko’s ‘OG’ Mr. money

Did someone awesome send this to you?

Subscribe to this Newsletter