Nigerians mark Valentine's Day on tight budgets

Valentine's Day, the annual celebration of love and romance, is a billion-dollar industry globally. However, in present-day Nigeria, where inflation is still high and the impact of recent government reforms is being keenly felt, many Nigerians are reevaluating their spending habits on this special day. As CNBC Africa's Blossom Aleogho reports, the economic challenges facing the country are making lovebirds think twice about splurging on Valentine's Day gifts and experiences this year. According to analysts at SBM Intelligence, a survey conducted on Nigerian consumers revealed that while 85% of respondents plan to spend on their loved ones this Valentine's Day—a significant increase from the 65% recorded in 2024—there has been a shift in spending patterns. With rising inflation making it difficult for many consumers to stretch their budgets, there is a growing trend towards prioritizing experiences over expensive gifts. Some respondents expressed a desire to take their loved ones abroad, while others are opting for restaurant dinners or movie dates. In terms of budget, around 30% of respondents indicated that they would spend between 51,000 to 100,000 Naira on Valentine's Day this year. This suggests that while some are still willing to make grand gestures to express their love, others are choosing more budget-friendly alternatives. The survey results highlight a clear message: Valentine's Day in Nigeria is not cancelled, but it is evolving into a more mindful and strategic celebration in 2025. Whether it's a lavish display of affection or a simple, heartfelt gesture, the focus is on celebrating smart and making the most of the occasion within financial constraints. In a challenging economic climate, love may be priceless, but expressing it in material ways comes at a cost that many Nigerians are carefully considering this Valentine's season. As the country navigates uncertain economic waters, the essence of love remains resilient, finding ways to shine through even in the face of financial constraints. And while the roses may be a bit smaller and the gifts more modest, the sentiment behind Valentine's Day in Nigeria remains as strong and meaningful as ever.