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  • Every week, Zikoko seeks to understand how people move the Naira in and out of their lives. Some stories will be struggle-ish, others will be bougie. All the time, it’ll be revealing.

    Nairalife #322 bio

    When did you realise the importance of money?

    In the university. I attended a boarding secondary school and didn’t handle much money as a child. I think that’s why, the first time my dad gave me a ₦40k allowance in uni, I went wild and finished the money in one week. And this was in 2007.

    The whole thing? 

    Yes. It was the first time I realised that money could come easily but go just as quickly. My dad was surprised when I called to ask for more money after a week. 

    He was like, “You know what? I’ll only give you ₦20k for the whole month from now on.” So I had to learn to manage. It wasn’t difficult to adjust; I just knew what I had and managed my expectations accordingly. That was the only option after my dad made it clear I’d only get money from home once a month.

    Speaking of, what was the financial situation at home?

    We were middle class. My parents are divorced, so I grew up with my dad. I’m not sure if my mum contributed financially, but my siblings and I lived with my engineer dad. 

    There were occasional periods of lack growing up, but my dad took care of the bills and gave us a comfortable life. I didn’t need to do anything extra for money, though I tried once in my final year at uni.

    Tell me about it

    I had a printer in school because of my final year project. So, I thought of charging people for printing services.

    I had plenty of customers because students always need to print something. I might have charged ₦50 per page and made about ₦10k/month. The business only lasted two months because I didn’t know I was supposed to keep business money aside; I spent it all. When it was time to replace the printer ink, I had no money left. That was the end of my money-making attempt in uni.

    I graduated in 2011 and moved to the UK for my master’s degree.

    How did you handle your day-to-day expenses in the UK?

    My dad gave me a £150/month allowance, which covered all my expenses. In fact, I lived a pretty comfortable life. Food was cheap in the UK. I’d buy foodstuff in bulk for £30 at the beginning of the month and cook when I needed. The rest of my money went into occasionally eating out and using the train.

    I returned to Nigeria after my degree in 2013, and NYSC was the next step. I served in the army because they wanted people who could teach them a language I studied. My NYSC allawee, plus the stipend I received from the army, brought my monthly income to ₦60k.

    Was ₦60k good money?

    This was 2013, so it was good money. The ₦60k took me the whole month and then some. I wasn’t partying so much, but I hung out with friends regularly. My dad had bought me a car at this point, and fuel wasn’t expensive, so things were great.

    After NYSC, my dad helped me get an interview with a bank. I got the role and interned for three months, earning ₦100k/month. Training school came after, and I was there for two months, also earning ₦100k. It was a lot of money back then. 

    2014 was my most active year; I spent most of it outside. There was no restaurant in Lagos I didn’t visit. I met up with friends for drinks, went to the beach, and just generally was everywhere. I had zero savings. 

    Then, just before the end of training school, I decided I didn’t want to work in a bank and quit. If I’d stayed, my salary would’ve been increased to ₦250k, but I had to leave.

    Why?

    I couldn’t deal with the stress. I was undiagnosed at the time, but I’d developed bipolar disorder. I’d been manic for most of the year, and at that point, I just felt like I’d die if I didn’t leave. I could tell something was off. 

    My dad was understandably upset and tried hard to convince me to stay. When I insisted, he took my car and said, “You want to be an adult? Be an adult. Do things how you want to do them, but know there will be consequences.” 

    He later forgave me, but he thought I threw an opportunity away. 

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    When did you get diagnosed?

    A few months later, in 2015. I also started taking medication, so I became more stable. I wasn’t sure what I wanted to do with my career, but I thought marketing would be a good fit because I consider myself creative. 

    I told my dad, and he supported me. He paid for the online marketing courses I took, and after I got my certificates, he linked me up with a marketing agency. I got the job as an assistant manager for client services, and my salary was ₦100k/month.

    Did you prefer the job to banking?

    Yes, in many ways. There was a better work-life balance, and my workplace was five minutes away from my house, which was great.

    The only downside was that there wasn’t much prospect for income growth, and they often delayed salaries. Some months after I got in, I found out my supervisor earned less than I did; she’d been there for five years.

    You say?

    They had a thing where the salary you negotiated at the beginning is what you get, and the salary only increases by like ₦3k or ₦4k as the years go by. Even my ₦100k was the gross pay; my actual pay was about ₦80k+ after deductions. 

    I supplemented my salary with a side hustle. I got close to my supervisor, and she introduced me to the foreign company she worked for on the side. I got paid in naira, and my job was to provide client services (remotely). My income from that was ₦60k/month. 

    How long did you juggle both roles?

    Two years. I left the marketing agency in July 2017 because they kept owing salaries. I lived on my income from the side hustle until January 2018, when I had a massive manic episode that landed me in the hospital for a few weeks. 

    Even after I was discharged, I didn’t feel like myself. My dad suggested I visit with my mum in the UK to recover, so I did. I stayed in the UK for six months. I even stopped my medications because I felt they weren’t working. What was the point of taking medication if they couldn’t keep manic episodes at bay? 

    So, I rawdogged life without medication for about a year. Looking back, I was manic throughout without realising it. 

    I started job-hunting when I returned to Nigeria in August 2018. Again, my dad helped, and I got interviewed for a project management role with an oil servicing firm in October. I asked for ₦500k, but they could only pay ₦120k, so I took it. I should mention that I’d taken a project management course in the UK, which helped. I worked there for two years, and my salary grew to ₦150k. I left when the place became too toxic.

    Did you have another job lined up?

    Yes. A job in communications and business development at a startup. It was practically two roles in one, and the salary was ₦200k/month. I tried to negotiate higher, but I think I’m bad at negotiations. 

    At this point, I was living alone. My family had moved further away, and my dad didn’t want the longer commute to trigger another manic episode. My rent was ₦700k/year for a one-bedroom apartment. Living on my own made it clear my salary wasn’t great. I had to save and manage money to meet my living expenses.

    Fortunately, six months into the job, a job I’d applied for at a foreign embassy in Nigeria came through. I applied for the job the previous year, and it took six months before they called me, and another six months to complete the interview process. This was in 2021, and I’m still at the job today. I work in the passports and citizenship office.

    I imagine the salary was a big jump from your pay at the startup

    It was. When I got in, my salary was ₦770k/month. It has increased several times over the years because of inflation. It went from ₦770k to ₦800k, then ₦1m. After a few more bumps, my employers just decided to pay in dollars, so now I earn $1,100, which is around ₦1.7m after conversion.

    I wouldn’t say I’ve really enjoyed the pay increases because, sometime in 2020, I got into gambling. Right from when I got this job in 2021, I was already repaying gambling loans.

    Click here if you’re interested in talking about your Naira Life story

    How did you get into gambling?

    It was a period when I needed extra money to supplement my salary. I’d dabbled in putting money on horse racing and casinos in the UK, but it was nothing too serious. I also tried once from Nigeria using my UK card details and won £90, but the betting companies got stricter about only allowing UK residents to use their services. 

    I decided to try casinos again in 2020, and won ₦500k with a ₦20k stake. That’s how I got hooked. The thing about gambling is, one never really makes progress. If you keep gambling, especially at casinos, you’ll certainly win up to a point and then start losing money. 

    I didn’t know how to stop, so I constantly lost money. When I earned ₦770k, I took out ₦200k for feeding and ₦298k for rent, and spent the rest gambling. When my salary finished, I moved on to loans. At first, I used loan apps, but after they embarrassed me once, I moved on to banks for loans and kept racking up debt. 

    I initially planned to use a percentage of my salary to repay the loans every month, so I’d still have money for other living expenses. But as my debt increased, my ability to repay decreased.

    My dad stepped in twice and paid off all my debt, but I just went back and racked up more debt. It was a full-blown addiction. All my money went into the casinos and settling debt. I barely had anything left for food. I didn’t know it then, but my constant gambling was linked to my mental illness. 

    How so?

    In 2024, I started taking active steps towards recovering from my gambling addiction. I reached out to an NGO for therapy. When the therapist noticed I was on medication for bipolar disorder, they pointed out that my medication wasn’t strong enough. 

    It turned out that impulsive spending is a symptom of my condition, and my medication wasn’t fully managing it. So, I switched medications and noticed that the urge to gamble went away. But the new medication came with serious side effects: weight gain, constant sleepiness, and my monthly flow disappeared. 

    I stopped the medication for a while because of the side effects, and the urge to gamble returned with a vengeance. It was so bad that whether I had money or not, I’d find a way to get or borrow money just to gamble it all away. My worst day in gambling ever was when I gambled away ₦2.2m in one day. 

    Wow

    I returned to the stronger medication a few months ago and accepted the side effects like that. I also gave my dad all my money to hold so I wouldn’t have quick access to it.

    It’ll take a while for the medication to kick in with full effect, so the urge to gamble still comes once in a while. But it’s nothing compared to before. I’ve blocked gambling websites on my phone, and whenever I manage to find a new website, I set ₦20k wager limits so I can catch myself before I go overboard. Once I realise I’m gambling again, I close the account and practice self-exclusion. 

    It’s not easy, but I’m managing it well. Right now, I’m focused on settling my debts and learning how to manage my money again. I keep most of my money locked away in fintech apps, so I get minimal access at certain times. Also, I often send my salary to my dad after taking out what I need to repay loans monthly. 

    I’d like to increase my self-control to the point where I don’t need to send money to my dad; it’s not the best locking-money-away measure. My dad still gives me my money if I ask for it, which isn’t really effective.

    You mentioned settling debts. How much do you currently owe?

    About ₦5m. It used to be around ₦9m across three banks and a UK credit card, but I’ve been actively repaying monthly since last year. I currently pay ₦600k in loan repayments every month. At my current repayment rate, it should take another year to pay everything off.

    While we’re on the subject, what do your typical monthly expenses look like?

    Nairalife #322 expenses

    I no longer pay rent because I moved back home in 2024. I needed to make some lifestyle changes and save money, so instead of paying rent, I pay a driver to take me to work.

    I have about ₦500k in my savings account right now, which is puzzling because I save ₦400k monthly. I don’t know if it’s because I’m still gambling or haven’t figured out a good spending habit.

    How have your experiences impacted your relationship with money?

    At some point, all I thought about was gambling with money. Now, I’m trying really hard to save. I understand that money doesn’t need to come quickly; it can also go quickly. Regardless of how long it takes to make money, it can go fast because there’s always something to spend on. 

    I’m still learning how to manage money. I think I didn’t learn earlier because of my background, so I’m playing catch-up. I’ve started with savings and hope to build on that and find more ways to accumulate wealth. 

    I would have tried investments, but I think I’ve expended all my risk in my gambling days. So, I’ll stick to savings plans that allow me to lock up my money for now.

    What do you imagine the next few years will look like?

    First, I want to be completely debt-free and never take out loans again. I also hope to grow my savings to ₦6m within two years.

    I’m considering moving to Canada in the next few years, so I could either do that or stay in my role. By the way, I really enjoy my work, so I wouldn’t mind continuing what I’m currently doing. 

    That said, I still want to have a side hustle. This might be the only job I’ve had without something else on the side. Some options I’m considering are content writing or something in marketing. I haven’t been able to actively pursue gigs because my medication always makes me tired, but I’m on the lookout.

    What was the last thing you spent money on that made you happy?

    My phone. I got it in February for ₦570k after the previous one got stolen in traffic. I know having a phone increases the risk of returning to gambling, but I still do other things with my phone, and I was happy I could replace it.

    How would you rate your financial happiness on a scale of 1-10?

    3. I still have a long way to go. It’ll be a 10 when I’m debt-free and have at least ₦6m savings.

    If you’re interested in talking about your Naira Life story, this is a good place to start.

    Yes, I want to do a Naira Life!

    Find all the past Naira Life stories here.

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    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.

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  • The topic of how young Nigerians navigate romantic relationships with their earnings is a minefield of hot takes. In Love Currency, we get into what relationships across income brackets look like in different cities.

    How long have you been in your relationship?

    Two years. Omo, it just hit me that we’ve been together for quite a long time.

    Haha. How did you both meet?

    Naffy and I met in uni. We were in the same department and often saw each other at MSSN activities. We were friends from when we met in our second year until our final year in 2022. Through these years, our mutual friends used to jokingly imply there was more to the friendship. I liked Naffy but didn’t tell her because I thought she would disgrace me.

    I’m screaming. Why did you think that?

    Naffy is a woke babe, but she’s also a hijab-wearing sister. I always thought she’d take off shouting “haram!” if I shared my feelings. Ultimately, she was the one who called me out. 

    One day, we were studying in class when she just turned to me and said, “Olabanji, when are we becoming official? It’s time to put a label on this thing we’re doing.” 

    Outwardly, I said, “So you don’t know we’ll marry each other?” But in my head, I was jumping up and down with excitement. See how she just made things easy for me. 

    Anyway, there was no need for toasting again. We spent ₦5k on a date at Chicken Republic — we were broke students, don’t blame us  — to signify the start of our relationship. We’ve been together since.

    How’s that going?

    It was smooth-sailing at first. We already knew much about each other, so transitioning into a relationship wasn’t difficult. 

    Our first argument was about the frequency of calls. I thought dating meant we had to be on the phone at least five times a day. But Naffy didn’t like that; she told me to calm down with the calls. I didn’t have to call more than once a day or at all since we saw each other almost every day. 

    I assumed her complaints meant she wasn’t really into me. Almost every girl I know wants their man to call them every time, but my own wanted something different. It took some time, but I understood Naffy’s point and we worked it out.

    But we’ve had to make more calls since 2023. NYSC posted us to different states for service and forced us into long-distance. While we finished service in 2024, we are still in our respective states because of work.

    What’s navigating a long-distance relationship like?

    It’s tough, expensive and life-threatening. Naffy works in Abuja, and we travel to see each other every 2-3 months. I dare not tell my parents I’m travelling regularly these days, when insecurity and kidnappings are the rage. But I do it for love.

    How much do you typically spend on these trips?

    A return trip by road costs around ₦80k. When I visit, I stay for the weekend, and we go out on food dates or for outdoor activities. Those cost between ₦30k – ₦50k and I pay for them. When Naffy visits, I pay half her transport costs and handle any bills we incur on dates. 

    We last saw each other over the December break. She came to see me, but we were both broke and mostly stayed indoors. I supported her transport with ₦50k. We don’t plan to do the back and forth for long, though. I’m currently job hunting in Abuja to reduce the distance between us and save costs. 

    I also have family in Abuja, so I won’t be starting from scratch. I’m hoping the job and move will happen before August. I can actually move right now if I want — I work two remote gigs. But I want to have something solid to justify the move. Both gigs aren’t full-time work and can go at any time.

    What kind of money conversations do you and Naffy have?

    We talk a lot about how we intend to run the finances of our future home. We’ve agreed that I’ll handle all the bills, while she’ll assist by contributing 30% of her income to a joint savings account. The remaining 70% is for her to spend as she wishes. 

    We also know how much the other person earns. Uhm. Maybe I should say I know how much Naffy earns. I haven’t exactly been straightforward with my income.

    Why?

    It’s not like I’m deliberately hiding it. I have a bit of a gambling problem, but it’s not serious. I tried sports betting for the first time in 2024 and won ₦12k on my ₦100 stake. Of course, I had to try again, and it’s become a tradition for me to place bets every weekend. 

    Gambling is my adrenaline fix. Now add the advantage of potentially winning something. I’ve had more wins than losses, and the most I’ve lost in a weekend is ₦45k. 

    But in October 2024, I won ₦600k with a ₦1700 stake and sent Naffy ₦70k to repair her phone. Then I dumped the rest in my savings.

    I can’t tell Naffy because it’s a major red flag for her. She’s anti-gambling, and I know how she talks about people who do it. Plus, it’s haram. I’m just trying to save myself the argument that’ll come from talking about it. Worse, it can lead to a breakup. 

    So, I tell Naffy my income is ₦220k, but the real figure is ₦280k. The remaining ₦60k is my gambling budget for the month. 

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    Don’t you think she’ll find out when you’re both in the same city?

    I don’t think so. I’m not obsessed with gambling, so I can manage to stay off the apps when we’re together. There was a point last year when I consistently went above my budget and had to rely on loan apps to survive for the rest of the month. I was in debt for five consecutive months, but I have that under control now. 

    I’m only paying off a loan right now because I had to take an urgent loan for my brother in February. Naffy even knows about it.

    I’ll have to stop gambling before next year, though. We plan to get married in 2026 and I won’t be able to hide it anymore. It’s either I stop or I come clean.

    Right. Besides travelling to see each other, do you budget for gifts or other romance stuff?

    The only time we actively plan for gifts is during our birthdays. Other times, we just gift each other based on needs or if we see something the other might like. When Naffy visited in December, she bought me packs of kilishi because I told her my mum sent me Ijebu garri, and I was drinking garri at the slightest opportunity. I got her an abaya for her birthday a few months ago. It cost me ₦45k.

    You mentioned getting married in 2026. Do you have a safety net for that?

    Not at all. I have ₦400k in my savings, but this is Nigeria. I can’t even use the money to rent an apartment or survive for two months. I’m just hoping that things fall into place soon. If I get a good job that pays like ₦400k, I can afford to save more regularly. 

    I think this is one reason why it’s difficult to let go of betting apps — it takes one day to make life-changing money with gambling. How many years of saving would I have to do if I want to gather ₦3m for a wedding? Or even to set up a home? Sometimes I think I’m really nowhere close to ready for marriage. But I know Naffy wants it to happen soon. So, I just have to find a way.

    I can imagine. What’s your ideal financial future as a couple?

    I’d like us to settle somewhere far from this country. I feel like there’s a limit to how much I can dream in Nigeria. The other day, I learned that a family friend who moved abroad two years ago took out a mortgage and now has his own house. I don’t know if that can happen for me in the next 10 years in this country, and it’s really depressing. I just want to leave.

    Interested in talking about how money moves in your relationship? If yes, click here.

    *Names have been changed for the sake of anonymity.

    NEXT READ: He’s Juggling a Baby Mama and a Girlfriend on a ₦200k/Month Income

    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.

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  • Every gambler knows there’s no shortage of hope in the game. Gambling is deeply entrenched in the psyche of at least 73% of the Nigerian population, and it feeds on the hope that allows humans to show up daily: “Today might be my day.”

    This hope might be the only thing keeping most Nigerians — especially gamblers — going these days, with inflation higher than ever and the cost of living consistently climbing.

    But how exactly has the worsening economy impacted their habits? 

    We spoke to seven Nigerians who either currently gamble or have done so recently. They opened up about their wildest gambling experiences, including their biggest losses and wins and how the recent economic climate has impacted their attitude to gambling.

    “I’ve lost ₦1m in four months, but I can’t stop”

    — Korede*, 28. Video editor earning ₦150k/month

    In 2023, a friend introduced me to sports betting after I complained about my faulty camera. I told him I needed ₦1m, and he jokingly said only an online betting platform would give me that amount in a day.

    So, I set up an account, and he taught me how to place bets on football and basketball games. By a stroke of luck, I made ₦18k from a ₦200 stake within two weeks of betting, and that’s how I got hooked.

    Since then, I’ve gambled every single day and spent at least ₦60k/month on betting platforms. I also moved to fixed matches in 2024 and made ₦500k with a ₦26k stake —my single biggest win so far. Sometimes, my winning streaks last for a few weeks, and I make plenty of money, but then I lose it all terribly. 

    My problem is I just don’t know when to stop. I’ve won about ₦1.2m combined over the last four months, but I lost it all within a week. I kept trying to win back the stakes I lost so I could raise ₦3m for my rent and some equipment. 

    I earn just ₦150k/month, and it’s never enough for anything. Just food and fuel will finish all that money.

    Sometimes, I think gambling is worth the risk. The only reason I survive the high cost of living is because of the small small money I make from gambling. Granted, I lose more than I win. But gambling gives me hope that things can get better one day.

    “I kept looking for my ‘Aguero’ moment”

    — Jacob*, 30. Business analyst earning ₦250k/month

    I’ve been placing bets since 2015. It started when I saw friends at university staking on sports games—mostly football—and constantly talking about their wins. It felt like something I could do, too. I knew a lot about sports and reasoned that the extra money wouldn’t hurt. 

    I bet on everything from soccer to ice hockey, volleyball and Olympic games. But I didn’t make the money I thought I would.

    In 2017, my friends and I found a fixed-match supplier who offered ”sure games”, and I lost about ₦200k trying to win big on those matches. 

    I’d already lost my school and accommodation fees to a previous bad gamble, but I had some money my dad had given me for my siblings’ phones with me. So, I bought three games at about ₦20k each. My friend also joined in.

    The wager was to predict the exact scoreline for the three games to win. By 6 p.m. that day, two of the games had been played, and my outcomes for both games were correct. I was so excited that I took my friends to a pepper soup joint to celebrate. 

    After we’d eaten our fill of catfish pepper soup and beer, I logged into the platform to check out the score. Major heartbreak. Instead of the predicted scoreline of 1:2, the final score was 2:1. You’d think I learnt my lesson after that incident, but I bought three more games from the guy and lost everything.

    I gambled consistently until 2024 and lost more money than I won. My biggest win was ₦40k in 2022, which is a small reward, considering that I spent at least ₦3k weekly on my bets. Sometimes, I spent over ₦20k monthly, and this got worse in 2023 when the effects of inflation started to hit. 

    My purchasing power kept dwindling, and my income couldn’t keep up. But I stuck with betting hoping that my luck would change — that Aguero moment. The moment never came, so I quit briefly in February 2024. 

    I picked up gambling again in November 2024; I was looking for free money for Detty December. Plus, I developed FOMO because the big punters on Twitter kept posting their wins. But after losing ₦70k in two months without a single win, I quit for good. 

    I’m not going back. 

    “I thought gambling would be a viable source of income”

    — Ola, 24. Graphic artist earning ₦350k/month

    I was in uni when I placed my first football bet in 2018. The most I staked was ₦200, and the highest money I made was ₦700. I didn’t make serious money; I assumed it was because I was trying to win big with small stakes. Since I was only betting with small amounts of money, the risk of one bet spoiling the ticket was high.

    So, I stopped for seven years.

    Three months ago, I started gambling again via an online betting platform. Why? I was looking for a way to earn extra income and beat the high cost of things. 

    Although I earn ₦350k/month, I’m almost always broke: Buka food that used to cost ₦1k is now ₦2500. My rent recently increased from ₦650k to ₦900k, and my transport costs have now tripled.

    Betting seemed like the solution to my problems. I just needed to stake high and get more profit.

    I’ve spent an average of ₦50k monthly on sports betting, and my biggest win happened in January — I won ₦75k from a ₦3500 stake. 

    That said, the plan to earn a good side income from betting isn’t going so well. 

    Football has been incredibly difficult to predict, with many upsets happening on game weekends. I’ve also made the mistake of chasing losses and betting more, and losing more money while trying to recover lost funds. Just last Saturday, I lost ₦35k on bad predictions.

    I think I’ll just abandon the idea of betting to make money. But I’ll keep doing it for fun. 

    “I can no longer afford to let go of a loss”

    — Boye*, 25. Freelance writer and filmmaker earning an average ₦1m/month

    Gambling started as a hobby during the lockdown in 2020. I bet my usual ₦15k – ₦20k weekly alcohol budget on sports betting platforms with the hopes of doubling it. If I won, I’d go out as planned. If I didn’t, I wouldn’t drink until my next win. It was a win-win situation.

    Since then, I’ve evolved to betting more regularly. My average spend is still ₦80k monthly, but there are more game fixtures on certain weeks, so I spend way more. I’m not sure if I have more winning streaks because some weeks are great — I’ve won close to a million a few times. But these rare wins are followed by huge losses. In 2023, I recorded my biggest loss, parting with ₦150k in one day. There have been several other losses here and there.

    I used to take these losses in stride and move on, but I can’t do that anymore due to inflation. These days, if I lose, I have to get back in immediately and try to make back what I lost. It’s a vicious continuous cycle and, more often than not, trying to fix the loss leads to more losses.

    The only reason I’ve kept going is because I believe there’s a certain amount of money I’d like to make from betting before I can abandon the platforms totally. I don’t know exactly how much that money will be; it’s an abstract idea. I just feel I’ll know when I get it. Then, I can stop betting.

    ALSO READ: For 2 Years I Didn’t Win a Single Bet — A Week in the Life of a Gambler

    “I don’t have disposable income to gamble with any more”

    — Ore, 22. Sales assistant earning ₦60k/month

    I’ve been down a gambling rabbit hole since secondary school when I watched a friend draw up charts and calculate football clubs’ statistics.

    That was seven years ago. 

    Now, I’ve gambled on almost every sport on online betting platforms. At first, it was just for the thrill. I didn’t think it was that deep; I could always stop if I wanted.

    But my gambling habit peaked between 2021 and 2023. In 2023, two friends and I paid ₦18k each to join a punter’s Telegram channel for “sure VIP games”. It went well in the beginning, and my friends and I made ₦5m combined. But we kept going, and we lost all that money. I lost ₦170k on NBA basketball in one night, and my friend lost ₦400k.

    After that incident, I took a hiatus before I returned after a few months. I currently spend at least ₦25k/month gambling. I lose far more than I win, but I’m no longer approaching betting with an ambitious mindset. It’s just a hobby. If I win, I win.

    Also, now that I have a job and no longer depend on allowances from family, my betting capital will have to reduce. Things are hard, and prices keep climbing. There’s hardly any disposable income these days. Maybe I’m fine with reducing the rate at which I bet anyway. The thrill and excitement aren’t there anymore. 

    “I need all the money I can get”

    — Diran*, 36. Compliance officer earning ₦320k/month

    Compared to other gamblers I know, I’m pretty much a casual gambler. I got into online sports betting in 2020 because the app interface was surprisingly easy to use. I also set a daily, weekly and monthly betting limit so I don’t overshoot. The most I spend betting monthly is between ₦40k to ₦60k.

    I do it for the adrenaline rush and the fact that I need all the money I can get. I’m the firstborn and responsible for my family’s upkeep because my parents are retired. So, I need extra money as much as the next person, and the economy isn’t helping matters. The cost of everything has tripled, and I have responsibilities.

    That said, betting has generally been favourable to me. The highest amount I’ve lost in a day is ₦30k, but I’ve also made ₦1m from a ₦1k stake. In November 2024, I won ₦928k with a ₦2k stake. Then there are the ₦400k and ₦500k wins here and there. 

    Even if I didn’t win as much, I’d keep betting. I’d just reduce my stakes. There’s this popular saying among people who bet, “You can’t be unlucky for 365 days. One day, your luck will shine.” So, I’ll keep taking the risk. 

    “My biggest regret is thinking I could make it from betting”

    — Ope, 23. Trainee banker earning a ₦100k/month stipend

    My 10-year journey with gambling started when I’d go watch football at a viewing centre/bet shop in SS 1. I knew so much about football, and one day, my friend and I decided to stake ₦100 to try it out. We won ₦1100. 

    That was the beginning of my problems. 

    I moved from betting ₦100 or ₦200 to ₦5k, then ₦20k on a single bet slip every day. I’ve used my school fees and sold my Twitter account to raise money to place bets. 

    I made my first big win —₦560k — in 2021, which fueled me to keep gambling, hoping to make more money. Every Saturday, I’d wake up happy and hopeful because of the many games available. I was often disappointed at the end of the day. I once lost ₦90k in a day on live bets in 2022.

    I managed to stop towards the end of 2024 when I got a banking job. I suddenly realised I’d been a fool for thinking I could make it from betting. I wasn’t even betting because I needed money to meet rising prices. I made money during my NYSC year that could’ve been put to better things like investments, but I greedily thought betting was easier and faster. I know better now.

    *Names have been changed for anonymity

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    NEXT READ: Meme Coin Madness: 4 Nigerian Traders on the Wild Profits and Devastating Losses

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  • The topic of how young Nigerians navigate romantic relationships with their earnings is a minefield of hot takes. In our Love Currency series, we get into what relationships across income brackets look like in different Nigerian cities.

    For this interview, I’m speaking with Okoye*, a 29-year-old freelance writer based in Lagos. He tells me how he recovered from a gambling addiction with the help of his lover in 2021, and also how he’s managing his now two-year-old relationship with a single mother, on a ₦300k salary. 

    *subject’s name has been changed to protect his identity.

    Total monthly income

    It fluctuates. But ₦300k on average.

    Occupation

    Freelance writer — with a focus on finance (crypto, especially) and sports.

    Bills and recurring expenses

    I don’t pay rent because I still live with my parents. My dad, sister and mum contribute to it. Meanwhile, I’m saving up to get my family out of the trenches.

    Food: ₦50k because we buy foodstuff in bulk most of the time.

    Data: ₦20 – 25k.

    Savings for relocating family: ₦80k in the last two months.

    Black Tax: Upkeep for my parents and sisters rounds out at about ₦30k.

    Miscellaneous: I pay for courses occasionally, and those take around ₦20k.

    Netflix: Around ₦4k monthly.

    How long have you been in a relationship?

    Two years and two months.

    How much does your partner earn?

    She’s an online thrift vendor, so her income isn’t steady. But she makes an average of ₦80k weekly, which amounts to roughly ₦320k monthly. On some good months, she makes up to ₦400k.

    How did y’all start dating? 

    Around February 2020, I saw her comment on a mutual friend’s post and playfully replied that I liked her but was holding myself back from sliding into her DMs. She responded, “Dey there na.” 

    So I quickly DMed her. But our initial conversations were stilted. She was mostly unavailable, and I struggled to reach her. She’d just left her ex and was learning to raise her two-year-old son on her own.

    But in March, when the lockdown started, she had more time on her hands, so we started talking more often. By April 8, 2020, I chyked her, and she agreed.

    How much were you earning then?

    I was barely making ₦100k consistently, but we were on lockdown, so the pressure wasn’t much. We were OK with just calls; no need to travel (she doesn’t live in Lagos). We dated virtually until December 2020, when she visited Lagos for an event, and I booked a hotel (I live with my parents). 

    That was the first time we met.

    With such limited income, what gave you the mind to toast a single mother?

    I believe I’m an interesting person, and I’m relentless about doing better for myself. So even then, I knew it was just a matter of time, I would eventually earn more money. Also, I’d dated women higher on the social ladder before, and it didn’t freak me out.

    Secondly, I really liked her personality. Once I like somebody, and I feel we might vibe well after watching them for a bit, omo, na to shoot shot o. What’s the worst that could happen?

    A focused king! Okay, how did it go from there?

    Funny, after December 2020, it took another seven months for us to see again, but under unpalatable circumstances. I’d been battling a gambling addiction and was in debt and I’d hidden it from everyone.

    Related: The #NairaLife of a Gambling Addiction

    But one day, I lost a bet after borrowing money. When the creditors came to look for me, I got overwhelmed, so I left home, booked a hotel, shut my phone off and went to bed. My partner panicked when she couldn’t reach me. When I switched my phone back on the next day, I saw her barrage of messages. So I opened up to her.

    I still don’t know how our relationship survived that.

    Gist me

    I panicked and told her I wanted to break up — I couldn’t continue with the relationship because I thought I had too much baggage. I was over ₦350k in debt from gambling — ₦150k credit from the betting house and ₦200k from loan apps. I thought no one would want to deal with my mess. But she got pissed that I was saying “nonsense”.

    Tell me more

    Omo. She said it was unfair that I wouldn’t even give her a chance to decide on her own. She did say we should take a break, but she wasn’t going to leave me hanging. She would keep tabs on me to make sure I was okay.

    After two weeks, she asked for my account details and passwords so she could track my expenses, and then, she helped me work on a repayment plan. She also suggested I leave my environment — the betting centre was close by — and go stay with her for a while.

    RELATED STORY: For 2 Years I Didn’t Win a Single Bet — A Week in the Life of a Gambler

    How did you get out of that rut?

    I was humbled by her faith in me, so I resolved to get myself out of the mess. I went to visit her and stayed there for a month. I wasn’t her favourite person during that period, but she was very supportive. But I bonded with her toddler so well, he didn’t want me to leave, and that helped.

    The change of environment did wonders. I applied for and got ghostwriting gigs that brought in the much-needed cash. My partner had my account details, so she monitored my expenses and ensured I didn’t relapse. I didn’t want to disappoint her again, which helped me stay focused on dealing with the addiction. After that month, I went to live with my aunty. Gradually, I paid off my debts. 

    It was hard to win her trust again, but by November, our situation improved.

    What happened next?

    We began to plan for a vacation in December (2021). She visited Lagos, and we toured the city for a few days. I visited her soon after, and we had a staycation. Those were the best two weeks of our relationship.

    How much do you budget for relationship sturvs these days?

    It’s as the spirit leads. For example, the last time I visited her, sales were poor that week, so I helped her stock up on groceries and provisions before I left. When she wanted a second phone to use as her business line, I gave her ₦40k — a third of the total cost. It’s the little I could do.

    When I need help, she comes through as well. We buy each other gifts: ₦15 – ₦20k here, ₦40k there, depending on our finances. She gives me more physical gifts — clothes, slides, etc., while I give cash and the occasional gift.

    How much do you spend on vacations?

    We make calculations and split costs. We spent around ₦120k over four days on our last vacation in Lagos and split 60/40 — 60% for me, 40% for her. Our hotel room cost ₦12k per night; beach waka took like ₦25k, including cab fares. We spent the rest on bar hopping around Surulere. Food cost us around ₦25k.

    Since we don’t live in the same state, we spend the most on each other when we meet. In May 2022, I carried my brokeass to her house. She practically fed me for the first two weeks of my one-month stay and sorted all the bills because I wasn’t getting writing gigs for a hot minute. 

    But things picked up for me, and I took over payments for the rest of my stay.

    What kind of conversations do you have with your woman about money?

    We’ve decided to be lovers for the long haul, so we discuss long-term plans. We want to expand her business. I’ve suggested getting a physical location and diversifying what she sells. Her thrift business fluctuates, and I’d like her to be more stable. We’re currently making progress with that. 

    One of the things we agreed on was to start ajo — ₦100k monthly savings. This month, she’ll pack ₦1.2m and launch the new business line.

    RELATED: A Week in the Life of an Instagram Thrift Vendor

    What about you?

    I wasn’t business-minded before, but I’ve started to make small investments. My goal is to make an average of ₦800k – ₦1m by next year at least. I’m also learning about the stock market to improve my portfolio and build wealth, and taking courses in comprehensive digital marketing, covering Facebook ads, Google ads, etc. With this new knowledge, I’ll run better ads and boost sales for my woman. I plan to learn about drop shipping once I’m done. 

    Do you have a financial safety net?

    At the moment, no. I’ve spent so much in the last couple of years, I’m practically resetting my life. I don’t like the place I currently live with my family, so I’m hustling to get us out of here soonest.

    My saving grace is, worst-case scenario, there are people who see me as credit-worthy. But I’m trying to double my hustle, so I can run family expenses and build a safety net while at it.

    What’s the ideal financial future you want for yourself and your partner?

    I want investments in real estate and stable sources of income that would see us making a collective income of at least $4,000 monthly. I’d also like an impressive stock portfolio of low-risk investments to assure our kids of a better quality of life than I’ve had.


    Liked this story? I bet you’ll like this too: What’s Dating Like in Abuja on a ₦180k Monthly Salary?

    If you’re interested in talking (anonymously) about how you manage money in your relationship, this is a good place to start.

    Yes, interview me!

  • A Week In The Life” is a weekly Zikoko series that explores the working-class struggles of Nigerians. It captures the very spirit of what it means to hustle in Nigeria and puts you in the shoes of the subject for a week.

    The subject of today’s “A Week In The Life” is a writer and gambler. He talks about how earning in dollars makes gambling in Naira bearable, selling his properties to offset gambling bills and the adrenaline rush betting gives him. 

    MONDAY:

    The first thing I reach for when I get out of bed this morning is my phone. Before I do other things like checking work emails, replying to WhatsApp messages or even reading the news, I open my betting site. It’s 10 a.m. and I’m looking for early kick-off [1 p.m.] football games to bet on.

    I scroll, unimpressed, through the Arabian league, Estonian league, before settling on the Portuguese league. I do a bit of reading up on the teams, do some mental maths, and play two tickets. One ticket has 8 games in it with potential winnings of roughly ₦50,000. Not bad for a ticket that cost ₦1500 to play. The other one has 7 games in it and costs ₦1,000 to play. The potential winnings are relatively lower than the first, but we move.

    With the bets out of the way and the looming thrill of winning or losing present, my day begins. As a freelance writer [for a foreign football and predictions site], I work overnight till 3 a.m., wake up at 10 a.m., place a bet, look at work emails, curse or jubilate when my ticket cuts or enters, and eat somewhere in between. This is in addition to my non-existent social life.

    My first task this morning is to have my bath, then I’ll move from there.

    2:00 p.m.: Most of today has been a blur. I wrote a few blog posts, replied to a few messages, cursed Nigeria; nothing out of the usual. My first match starts at 2:30 p.m. and I’m looking forward to it. I’m thankful for this app from work that allows me to watch obscure leagues so I can monitor, write and bet on matches. I’m super excited to see how my predictions perform. 

    4:30 p.m.: The ₦1,000 ticket has casted. Two of the teams lost already so there’s no hope. Although the ₦1,500 ticket is giving me life: 3 out of 8 games have clicked. I’m hopeful as fuck. 

    5:30 p.m: Now, 5/8.  We’re still on track.

    6:30 p.m.: Omo! 7 of 8 games are in. And the last two tickets had last-minute goals. I picked over two goals [that is, both teams score more than two goals by the final whistle] for one match and the teams didn’t score until the 67th and 81st minute. For the other match, they were playing 1-1 until someone scored an extra-time goal — see the way I screamed! Their papa!!!

    8:00 p.m.: Final fixture and I can feel things are aligning for me. All the signs have shown me that this ticket is the lucky one. I just know. My bet on this match is that both teams score more than 2 goals, and this team is notorious for scoring goals. Let’s bring this money home. 

    8:30 p.m.: Gooooooall. 1 goal down. Let’s gooooo.

    9:00 p.m.: Still waiting. Let’s do it.

    9:15 p.m.: Come on booyysss.

    9:20 p.m.: Please now, boys. 

    9:25 p.m: God, please. It’s never too late for a miracle. God pleasseee.

    9:35 p.m.: Fuck! These bastards have finished me.


    TUESDAY:

    Yesterday was a shitty day. In fact, this month has been shitty because I haven’t won a single gamble. My only consolation is that I earn in dollars so I have enough disposable income to spare. If not, I’d have become desperate. 

    Anatomy of recent losses:

    On Saturday, I lost ₦4,000 because some of the big premiership teams disappointed me. 

    On Sunday, I lost ₦6,500 because their counterparts in La-Liga also did the same.

    Monday, I said let me try obscure league and same embarrassment. I lost ₦2500.

    ₦13,000 gone in three days just like that inside this Buhari economy. It’s all good because I’m still going to try my luck again this afternoon.  

    Even with the drought, I’m not scared. I’ve seen worse. From 2017 – 2019, I didn’t win one single gamble; only losses. Both big and small bets were casting. One time, I even tried rising [a gambling term for increasing money] ₦100 to ₦500 just to get the feeling of winning and it casted. However, on August 18, 2019 — I’ll never forget the date in my life — I broke this jinx. I used ₦500 to win ₦19,000. I called all my guys to tell them that the jinx had been broken. Omo, see the faji after.

    I once saw a tweet that said there’s no better thing than having an orgasm. A gambler will disagree. There’s no better feeling than chopping a win after many years of losing. 

    WEDNESDAY:

    It’s a slow day at work today so I have time to think about my life. If I think hard enough I realise that the thrill is why I love betting.

    The emotional roller coaster gives me a rush of adrenaline that makes me feel alive. Following simultaneous games on your ticket, seeing one club win here, another lose somewhere else, and all that passion is thrilling. It’s happiness, anger and tension at the same time. Betting is the only way to have a literal stake in the tension, unlike a casual observer. If I don’t have a ticket running on any given day my body starts to feel one kind. That’s why no matter how many times I try to quit, I fail. 

    To think that my gambling habit started from a radio show. As a die-hard football fan, I used to listen to this radio program where the host would announce how much people won from betting. The host would say things like clueless non-football fans won millions of money, yet die-hard football fans never made money from their passion. 

    One day, tired of being taunted, I placed my first bet and won ₦4,000. I was like, “Wait. Is it this easy?” From then on, it was a rabbit hole. I got into virtual betting and gambled away my project money, school fees, phone, laptop, speakers, and had an extra year. 

    In my final year, at the height of my troubles, I was owing my girlfriend about ₦100,000. I remember her suggesting that we go for deliverance. I struggled to explain to her that the same hope that allows human beings to show up daily is what gambling feeds upon. 

    You keep thinking, “I’ll win today. Today is my day.” But it’s not. 

    The more money you lose, the more the pull to get your money back. At some point, you start getting angry and making bad decisions and losing more. Then you start to borrow and drop properties as collateral. You then try to hustle money to bail your properties as collateral and start to owe everyone around you: from your roomies to friends to even your food woman. 

    If you’re lucky your eyes will clear quickly. If you’re like me, it’ll take gambling away your school fees, project money, and crying in the church to quit virtual betting. 

    To me, quitting virtual betting — like horse racing and other computer programmed games — and replacing it with online betting is a great step. At least, now I know I have a bad vice as compared to when it was a worse one. It also helps that I’m in a better place financially. 

    Thinking back on all this progress makes me feel lucky. I have a feeling today is going to be my day. When I finish replying to 10 work emails, I’ll reward myself by placing a small bet. For some reason, I have a feeling it will work out. 

    THURSDAY:

    Yesterday wasn’t great but today looks better. I’m watching the last game of a ticket I played and my team is winning. Other games entered earlier in the day and I have been waiting for this match to complete my long-awaited win. As the referee blows his whistle for an extra minute in the game, I start to celebrate.

    I open WhatsApp and order a shoe worth ₦30,000 and pay a ₦2,000 delivery fee. Any gambler will tell you that the minute you place a bet, in your head, you think the money has come. As a result, you become reckless with money because you think money is always coming and all you need to do is just “place a bet.”

    In the past, I used to see gambling money as awoof to be blown anyhow. But now, I see it as money for projects. A few months ago when I won ₦92,000 I bought a fridge. Another time when I went low on cash because I bought a generator, I used gambling to turn my last ₦2,000 to ₦75,000. 

    Although the disadvantages of gambling outweigh the advantages, it’s still a two-way street to me. 

    Let me be honest with you: these losses no longer matter because the money is too small to lose sleep over. 

    FRIDAY:

    I’m still on a high from yesterday. Today, I’m grateful for being in a place where I can laugh at losses. Before now, every time I lost a bet, I’d ignore the world and my 9-5 for a few hours to gather myself. And when I eventually came out, I’d go over each game, review my mistakes and jot them in an exercise book. 

    However, since my money went up, gambling has become a fun side vice for me. The only “bad” thing is that I sometimes go over my naira budget on gambling, but I’m managing it.

    It’s not like I’m going to outrightly stop gambling tomorrow or in two years time. All I can do is make tiny improvements here and there. My plan is to slowly wean myself off gambling before 35. Right now, at 27, this gives me 8 years to get there. My biggest fear is to be an old person who spends their life betting. I remember seeing old people at virtual betting shops and saying I don’t want to be that person. 

    I know for sure that I’ll quit one day. Probably. Maybe. Time will tell. 

    Check back every Tuesday by 9 am for more “A Week In The Life ” goodness, and if you would like to be featured or you know anyone who fits the profile, fill this form.