74% of Gen Z Nigerians Rely on Single Income — Report

By Paul Chimodo

A new report by financial platform PiggyVest has revealed that 74 percent of Gen Z Nigerians depend on a single source of income, highlighting growing financial vulnerability among young people in the country.

The findings indicate that many Gen Z respondents lack diversified income streams, making them more exposed to economic shocks such as inflation, job loss, and rising living costs. The report also notes that while a significant number of young Nigerians express interest in side hustles and investments, barriers such as limited capital, time constraints, and unstable earnings hinder their ability to expand income sources.

PiggyVest further observed that despite these challenges, Gen Z individuals are increasingly adopting savings habits and exploring digital financial tools to improve their financial stability. The report encouraged young Nigerians to prioritize financial planning, skill development, and multiple income streams as strategies for long-term economic resilience.

It also highlighted that rising unemployment and the cost-of-living crisis continue to shape financial decisions among young Nigerians, with many focusing on essential spending and short-term savings goals rather than long-term investments.