Nigeria welcomes approximately 800 new births every hour, and it’s easy to understand why. Having (multiple) kids is strongly tied to our societal and religious beliefs. Plus, the idea of having a cute mini version of yourself doesn’t sound half bad.
But beyond the cute smiles and precious moments, parenting can also involve endless worries and significant financial burdens. We spoke to five Nigerian parents, and they shared how having children has impacted their cost of living, financial stability and even income opportunities.
Image source: Zikoko. Models are not affiliated with the story.
“I went from earning ₦500k/month to ₦100k”
Oyin, 35, single mother of one
I knew I’d be a single parent while still pregnant with my son, so I mentally prepared for it. My partner and I planned to get married, but I caught him cheating when I was five months pregnant. The cheating incident revealed a history of lies I couldn’t overlook, so I left him and had my son alone in 2023.
I thought I was ready to raise a child, but nothing prepared me for the reality that motherhood would also affect my income source. Before my son, I had a job and a side hustle selling perfumes and thrift, bringing my monthly income to ₦500k on average. I still managed to juggle both while pregnant, but it became a different story after I gave birth.
I quit my job and thought I could rely on my business, but that didn’t work. I couldn’t go to the market regularly anymore because I had no one to keep my son with. The few times I managed to go, I begged my neighbour to watch him. That stopped when I came home one day and saw she had left my six-month-old crying alone on a mat on her balcony.
When my son was eight months old, I decided to risk taking him along with me to the market. I saw shege that day. The heat made him very irritable, and he cried throughout the day. I also almost fainted from the stress of carrying him on my back and dragging heavy bags of clothes. Safe to say I didn’t try it again.
Over time, I’ve had to scale my business down because there’s only so much I can do alone. I only sell perfumes now because they’re less stressful, and my customers come from social media — no time to go office to office hustling for customers. Right now, I make an average of ₦100k in profits monthly. It’s even more than I used to make between 2023 and 2024, when my son was still a baby and I had less free time.
From that ₦100k, at least ₦80k goes to our feeding and my son’s needs. I manage the remaining ₦20k for utility bills, internet and emergencies. I had ₦800k in my savings when I got pregnant, but I’ve been pinching out of that to survive and pay rent. Only ₦60k is in my savings now. My son’s father sends ₦30k every three months to “support”, but it doesn’t go anywhere. Plus, the money only comes after I’ve called to shout at him several times.
I literally live hand-to-mouth every day, and it’s a sharp difference from who I was before. I don’t buy things for myself anymore, and I dread when my son will have to resume school because the expenses will only increase. But I try to console myself with the fact that school will mean extra time for me to try keeping a job. So, there’s hope.
“I’m tied to my job because of constant loans”
Dabiri, 38, married father of three
My wife got pregnant one month after our wedding in 2014, and we suddenly moved from newlyweds to new parents. As if that wasn’t shocking enough, we gave birth to twins.
I was initially scared — my wife was unemployed and I earned ₦80k/month — but I figured we could make it work. Fortunately, our family came through for us with monetary gifts, and my mother-in-law helped us with the babies while my mum often sent us food stuff. Those first few years were great, and I didn’t feel too much financial pressure. But to be safe, my wife and I agreed to leave it at two kids. She’d be a stay-at-home mum and we’d manage with my salary.
Fast forward to 2021, we found out we were expecting again — my wife’s IUD contraceptive failed. Our situation was much tougher this time. Our mothers had passed away, and the COVID lockdown had taken my job. I was still wondering how I’d provide for my family with no salary when we found out about the pregnancy. I begged my wife to have an abortion, but she refused.
The whole thing almost separated us. I was angry that she wasn’t being realistic, and I moved out of the house. I was honestly scared of the expenses. It took our family’s intervention for the issue to die down. A family friend also helped me get my current job at a microfinance bank that pays me ₦200k/month.
I have a salary now, but it really doesn’t feel like it. After paying for food and school fees, there’s nothing left. My twins had to change to a government school for their secondary education because I don’t have ₦500k to pay for both per term in a private school.
But the expenses aren’t my biggest challenge. It’s that I can’t change my job. I’m tied to my workplace because I’m constantly taking loans from my employer to cover household expenses. Currently, I owe ₦800k, and they’re removing ₦40k from my salary for a 20-month period. I’m very sure I’ll borrow more money before I finish paying this one.
Since I can’t get a new job and receive a salary immediately to pay my debts, I have to stay here until I can gather (or borrow) enough money to pay them off. It feels very limiting.
Join 1,000+ Nigerians, finance experts and industry leaders at The Naira Life Conference by Zikoko for a day of real, raw conversations about money and financial freedom. Click here to buy a ticket and secure your spot at the money event of the year, where you’ll get the practical tools to 10x your income, network with the biggest players in your industry, and level up in your career and business.
“It feels like the expenses are never-ending”
Bukola, 44, widowed mother of three
I didn’t fully realise how expensive raising children was until my husband died in 2022 and left me to provide for three teenagers alone.
Suddenly, I had to bring out money from my unstable income as a fabrics trader for food, school fees, birthday gifts, and even barbing appointments. I sometimes get support from my late husband’s sister, but it feels like the expenses are never-ending.
Two of my children are in uni and they’re constantly calling for money. If they don’t need a laptop for assignments, it’s that their ₦30k/month pocket money has finished. I laugh when I remember complaining about handling the feeding expenses when my husband was alive. Now that I’m paying for everything, I wish to return to the time when I only worried about food.
I’ve turned to an accountant by force, constantly drawing budgets and calculating how to save more money. In one way, it has made me better with money. I save more and avoid unnecessary expenses. I even started a ₦60k monthly ajo contribution for my house and shop rent.
I would’ve liked to become more intentional about money under different circumstances, but this is my situation, and I have to try my best.
“I’m slowly accepting that I can’t have it all”
Esther, 27, married mother of one
When I got married in 2023, I had a clear plan: Relocate with my husband to the US for my master’s degree, find a job, make money, and then start thinking about children.
But like they say, man proposes, God disposes. I already had a uni admission offer, but the whole wahala with Trump led to the school pausing my scholarship. I dusted myself off and applied to UK schools instead. While the offers came, scholarships didn’t follow.
Then, in August 2024, I fell sick and the hospital discovered I was five months pregnant. Even I didn’t know. I missed my period once during the five months, but my home pregnancy tests were negative. The periods even returned, so I’m still confused how I turned up with a whole five-month fetus.
The baby put all my plans on hold. I quit my job after getting the US scholarship and am still unemployed. I can’t even look for a job properly because I have a baby to worry about. My husband provides all my needs, but it’s somehow not having anything to my name.
I’m still half-heartedly applying for scholarships, but slowly accepting that I can’t have it all. Even if I get the scholarship, will I study with a baby? My husband won’t come with me because he has a really good job now. We can’t risk relocating to a new country as two unemployed people with a child.
My financial prospects don’t look great right now. I just hope things start to make sense when my child gets older.
RELATED: Having Kids Took Me From Middle-Class to Poor
“I’m glad I invested before having children”
Daniel, 36, married father of two
I earn reasonably well at ₦800k/month, but I also have two growing boys who seem like they were born to chop my money.
Before we had our children, my wife and I could spend only ₦80k on food monthly. But now, it’s ₦250k and above. My children will eat breakfast at 8 a.m. and start shouting, “I’m hungry” by 10 a.m. I still have to worry about clothes, toys and school fees.
I’m just glad I wisely invested in a plot of land before getting married. Now, I just try to save 100k monthly and put it towards my building fund. I should have 3m by the end of the year, and I’ll use it to start building something.
If I hadn’t gotten land before having children, I doubt I’d be able to do it now, especially with the economy. I mean, it took me almost four years to save just ₦3m. This is me who saved ₦2m in a year for my wedding in 2018. But saving is a luxury now. I’m just glad I can still afford to put some money away.
*Names have been changed for the sake of anonymity.
NEXT READ: I Stopped Paying My Family’s Bills, and They Started Disrespecting Me
