There is a trend in Nigeria where, approximately every 40 years, a significant number of men face financial difficulties. Several factors contribute to this trend, which seems to be worsening over time. One major issue is the declining state of the economy, compounded by the constant cycle of inadequate government leadership. As the economy deteriorates, the challenges faced by citizens become more prominent, leading to an increase in the number of people living in poverty. Frequent changes in policies have made it increasingly difficult for many families to meet their basic needs and feed themselves.
The first obvious reason is salary
In Nigeria, the working class primarily consists of salary earners. There is nothing wrong with being a salary earner, especially when you are young and just starting out without a family. A salary of 200,000 to 300,000 naira can comfortably support you during this time. Even if you have a girlfriend or someone you are considering marrying, you are not obligated to spend excessively on her. However, once you get married, everything changes, and you start feeling a responsibility to provide for her. As a result, that same salary of 300,000 naira, which is roughly $160, can become difficult to manage. By the time you reach 30 years old, you may begin to have children, making your circumstances even more challenging.
As you get older and approach your 40s, it becomes increasingly challenging to maintain your family. Your children are growing up, and your responsibilities are multiplying. At this stage, there’s a chance that your salary won’t increase, while your obligations continue to rise. This situation makes it difficult for many men around the age of 40. Even those who started their lives on a good path may struggle to support their families. The current economic crisis has exacerbated these challenges; for instance, what used to be 400,000 naira, which was around $2,000, is now worth less than $200.
our crazy economy
The economy has made everything worse. In Nigeria, living on $100 to $200 a month with your family can be very challenging. If you earned 400k 20 years ago, it might have been easier to save up, buy a car, build a house, and support your family. However, with the current economic crisis, that reality feels far away. If you are single, this amount may be sufficient to sustain you. But when two or three people depend on that salary, it becomes difficult. Sometimes, we are the source of our own mistakes.
We are the reason
Many young people earn significant amounts of money in their 20s, but they often feel pressured to create a certain impression. As a result, they fail to make good use of their earnings. Instead of building a solid foundation for their lives during this decade, some rush into marriage. A notable trend among some African men is that they incur substantial debt to finance their weddings. In the first few years of their marriages, they find themselves burdened with debt, and before they can achieve financial freedom, they begin to start families. This adds even more responsibilities, making it difficult for them to consider investing for the future.
Many people believe that when they make money early in life, instead of focusing on building their future through investments or starting a business, they tend to accumulate liabilities and take on unnecessary responsibilities. A common trend in Nigeria is that many men in their early 40s find themselves broke. The easiest way to avoid this situation is to invest and build a financial portfolio before getting married. In Africa, our circumstances are different. It’s essential to accomplish something for ourselves before entering marriage. We can't marry solely based on being salary earners, we need to use our salaries to create opportunities and build a better future.
thanks for your time.
