PiggyVest Report: Only 1 in 10 Nigerians can comfortably raise ₦156k in 1 week.
- 56% more people want to japa, but savings for Japa have completely dropped, almost non existent.
- Minimum wage is ₦70k but a pot of jollof rice costs 624% than it did 10yrs ago, that’s 42% of the MW.
- Savings collapsed from 8/10 people to 5/10 people, as Nigerians stopped saving simply because they don’t earn enough.
- 58% of adults earn below ₦100k/month or nothing at all. Yet they are earning more now but affording less. Because in 2023 minimum wage was ₦30k and worth $65, now in 2026 it is ₦70k and worth $53, less value.
- In America less 10% of household earning is spent on food. In Nigeria, ₦6 of every ₦10 earned is spent on food (60%) as inflation rises monthly. 60% is the highest of any country the US Department of Agriculture tracks.
- While many Nigerians want to Japa. Many have opted to start life here, not because its easier, but with optimism for the future.
- 63% about 140M Nigerians are living in poverty. 6 in 10 Nigerian do not have emergency funds.
- However, people paying Black Tax has dropped by 80%, though more than half of Nigerian earners support extended families.
- Only 6% of Nigerians feel financially secure. Not because they earn a lot, but because they save a fixed amount monthly.
- Nigeria is experiencing two economic realities at once; on paper the economy is good, which is true. In reality, households feel poorer.
A Tale of Two Nigerias — Odunayo Eweniyi, Co-founder and COO of PiggyVest at OpenHouse Lagos 2026.
3 October 2026
FOR IMMEDIATE RELEASE
LABOUR PARTY YOUTH LEADERS PROPOSES ALLIGNMENT WITH APC, TO SUPPORT PRESIDENT TINUBU’S RE-ELECTION WITH CITY BOY MOVEMENT AND TINUBU SUPPORT GROUP.
Abuja, Nigeria – The Youth Wing of the Labour Party has initiated discussions on a proposed political alignment with the ruling All Progressives Congress (APC), the Renewed Hope Movement, the City Boy Movement and Tinubu Support Groups to declare support for the re-election of President Bola Ahmed Tinubu, GCFR.
The proposal emerged during a virtual meeting held on 2nd October, 2026 at 8:30 pm involving the Labour Party National Youth Leader, Prince Kennedy Ahanotu, members of the National Youth Leadership, National Zonal Youth Leaders and State Youth Leaders, where participants deliberated on the party's political direction given the prolonged crisis and the future of youth participation in national governance ahead of the 2027 general elections.
During the meeting, several youth leaders expressed concerns about what they described as inadequate recognition, total negligence, lack of engagements and no support for the youth constituency during and after the 2023 general elections where they laboured in vain for a presidential candidate who lacked the skills to consolidate. They emphasized the need for a political platform and leader that would provide greater opportunities for youth participation, leadership development, economic empowerment, and inclusion in national decision-making.
The meeting also featured discussions on the policies and programmes of President Bola Ahmed Tinubu's administration, particularly in the areas of human capital development, youth empowerment, economic reforms, infrastructure, healthcare, education, security, agriculture and workers' welfare. Participants expressed varying views on these issues and the potential implications for Nigeria's sustainable development.
Following extensive deliberations, the youth leaders called on the National Youth Leader, Prince Kennedy Ahanotu, to commence with immediate effect consultations with relevant stakeholders within the APC, the Renewed Hope Movement, the City Boy Movement and the Tinubu Support Group to explore the prospects of a political alignment and possible collaboration ahead of the 2027 elections.
The participants also expressed confidence in Prince Kennedy Ahanotu's leadership and mandated him to facilitate the proposed alignments while emphasizing the importance of broad-based consultations and consensus-building among the youth leadership.
The meeting further proposed a physical gathering of Labour Party youth leaders in Abuja, on a mutually agreed date, to review the outcome of the consultations and determine the next steps regarding the proposed political re-alignment.
The proposed engagement represents an ongoing dialogue within the Labour Party's youth constituency on political participation, strategic partnerships, and the role of young Nigerians in shaping the country's political and developmental future.
Signed:
Comrade Ken Omusi
Edo State Youth Leader
For ALL in Attendance
Prince Kennedy Ahanotu, 5 National Zonal Youth Leaders and 32 State Youth Leaders.
Labour Party, Nigeria
The University of Nigeria, Nsukka, told PREMIUM TIMES that Peter Obi was duly admitted to study Philosophy in 1980. The university also authenticated the degree certificate examined by PREMIUM TIMES, confirming that he was awarded a Bachelor of Arts in Philosophy, Second Class Honours (Lower Division), in 1984.
𝐑𝐞𝐚𝐝 𝐔𝐍𝐍’𝐬 𝐫𝐞𝐬𝐩𝐨𝐧𝐬𝐞 𝐭𝐨 𝐏𝐑𝐄𝐌𝐈𝐔𝐌 𝐓𝐈𝐌𝐄𝐒
https://t.co/gtaSF53lVU
Full Video: Lagos ADC Governorship Candidate Gbadebo Rhodes-Vivour replied to a town hall participant who asked him a question in Yoruba language on how he will preserve the Yoruba culture if elected Governor of Lagos State.
Wahala do burst for Warri🤣🤣🤣
Youths who were supposed to come out to do 5KM Independence Day Run. After gathering to run at PTI JUNCTION came to meet the organizers sharing "Soft Nigeria" Polo with Tinubu face hidden in it.
Now the Youths are aggrieved that they were deceived and started tearing the polo and are planning in boycotting the independence day ruu. 🤣🤣🤣
They are chanting "OBI OBI OBI" 🤣🤣🤣
SHERIFF go done tire by now🤣🤣🤣
@Morris_Monye@EstherUmoh10@MamaPee__@EmirSirdam
BREAKING: Justice Silvanus of High Court of the Federal Capital Territory, has ordered Jordan Ezenwo Nyesom-Wike, son of the FCT Minister, to produce his American passport in court.
The court made the order following an application by Counsel to the claimants, Hamza Dantani, during the defendant’s defence, in an alleged $2.1 million fraud case.
The suit, marked CV/008/2026, was filed by Safwan Garba GY and GY Global Oil and Gas Nigeria Limited against Jordan, who is the son of FCT Minister Nyesom Wike.
The claimants said they met Jordan in London, where they developed a friendship and after about three months, they met again in Abuja, where they approached him for assistance to facilitate the acquisition of land in the Federal Capital Territory.
The claimants claim that Jordan agreed to facilitate the acquisition of 30 hectares of land at Katampe and 30 hectares at Guzape. They alleged that Jordan told them the facilitation fee was $2.1 million, adding that $2 million was for his father, the FCT Minister, while $100,000 was his personal fee.
They further alleged that the cash was delivered on September 26, 2025 in the presence of Adamu Sani, Aliyu Sarki, and Sai Wani, while Jordan was accompanied by one Onor Sandy.
The claimants said after receiving the money, Jordan neither delivered the land nor returned the money, and instead went incommunicado.
I bought fuel yesterday in Toronto, Canada, at $1.7999 CAD per litre, and it cost about $98.95 CAD to fill up my tank. This should ideally last me about a week or more.
Now, the minimum wage in Canada is $17.95 CAD per hour, which means someone who works an average of 8 hours a day will earn $143.60 CAD before tax. A day's salary is enough to fuel his or her car for 2–3 weeks. This means that even one of the lowest earners in Canada can afford to own and drive a car daily without the cost of fuel becoming an overwhelming burden. Public education for children is also free and of high quality.
In Nigeria, fuel is about ₦1,300 per litre. It would cost about ₦88,000 to fill up a similar tank. The minimum wage in Nigeria is ₦70,000 per month. This means that an entire month's minimum wage cannot even fill the tank once.
A minimum-wage earner in Nigeria cannot realistically afford to own, fuel, and maintain a car. The same person still has to afford food, rent, children's education, healthcare, electricity, transportation, and other basic necessities. The list goes on.
In fact, even a bank manager in Nigeria earning ₦1 million monthly could still struggle to maintain a decent standard of living after covering these basic expenses.
This is one reason poverty is so widespread in Nigeria. The cost of basic living is simply too high relative to what the average person earns.
You don't just have an income problem in Nigeria. You have an affordability problem.
For millions of Nigerians, simply living a decent life has become too expensive and increasingly impossible.