The Digest:
A new report by PiggyVest has revealed that 53 percent of Nigerians do not prioritise saving or struggle to maintain a financial reserve. The PiggyVest Savings Report 2025, released in March 2026, surveyed 20,000 respondents across Nigeria's six geopolitical zones. Mutual Benefits Assurance Plc warned that Nigerians must urgently move away from informal savings habits like keeping cash at home toward structured savings. Experts say the problem is linked to poor financial planning and lack of discipline.
Key Points: Many households cannot cope with emergencies or plan for long-term security.
- Structured savings products encourage consistency, growth, and protection.
- The problem goes beyond low-income levels, experts say.
- Rising inflation and living costs are deepening the savings crisis.
- Without a shift to structured savings, household financial stability remains fragile.
