Feature/OPED
The Price of Fake Life at This Time!
By Timi Olubiyi, PhD
In Lagos, Nigeria, like other African cities, Johannesburg, Cairo, and Nairobi, among others, the pressure to appear rich has reached disturbing heights. Amid a backdrop of rapid urbanization and economic uncertainty, social media platforms have only intensified this pressure, making it feel as though success is synonymous with material wealth.
From sleek cars on the streets of Lekki, Victoria Island, or Ikejaand flashy social media posts make it hard to ignore the overwhelming desire to flaunt wealth in Lagos Nigeria.
In recent time, the extravagant parties and designer clothes, the pursuit of outwardly projecting affluence has become an obsession, leaving many trapped in a cycle of debt and despair. The unfortunate paradox here is that it’s difficult for a broke person to keep up the appearance of affluence for long, while a rich person, paradoxically, can play broke every day of the week without breaking a sweat.
But the problem runs much deeper than just appearances; it has become a silent epidemic that has wreaked havoc on the mental and physical well-being of countless individuals. This pressure to appear wealthy, fueled by the desire for social validation, has now crossed dangerous thresholds, often leading to extreme consequences.
With Nigeria facing one of its highest inflation rates in decades, the economic landscape has made it increasingly difficult for many people to simply make ends meet. A devalued Naira, skyrocketing prices of goods, and unpredictable economic policies are forcing individuals to make impossible choices. For the young, the hungry, and the vulnerable, social media platforms such as Instagram and Twitter have become breeding grounds for comparison, feeding into the illusion that wealth is easily attainable.
What most people fail to see, however, is that the “rich” lifestyle they covet is often unattainable for anyone not already possessing considerable resources. The consequence? A generation of individuals who feel forced to live beyond their means, often going into debt or risking their lives to maintain a false image of success.
Even worse, the financial pressure to appear rich can often spiral into even darker consequences. In recent years, Lagos, Ilorin and many parts of Nigeria have seen a surge in ritual killings, kidnapping, and other terrible crimes often linked to the dangerous desire to accumulate wealth, or at least the appearance of it.
These violent crimes are often perpetrated by those who, due to lack of opportunities, have found themselves cornered by an economic system that rewards only those with visible wealth, no matter the means.
This disturbing trend feeds directly into the cycle of social media glorification, where a brazen display of wealth often gathers admiration, and in some cases, even envy. This desire to appear rich without any meaningful livelihood has led to a breeding ground for criminality and social vices.
Young people, especially, are finding themselves caught in this dangerous web, where they feel the need to flaunt wealth they do not have in order to gain respect and social media validation. The pressure is unbearable, and the consequences can be life-altering. As inflation continues to rise, the temptation to adopt a fake life becomes even more pronounced, with people willing to do anything whether fraudulent or violent to escape the crushing grip of financial instability.
Those who truly understand the value of money often prefer simplicity, investing in long-term growth rather than short-term gratification. It’s a lesson that the majority in Lagos and other Nigerian cities need to learn: living within your means, focusing on long-term financial growth, and avoiding the temptation to project affluence for approval will lead to more sustainable happiness.
Financial stability does not come from showing off; it comes from sound financial decisions, investments, and the ability to live within one’s means. Instead of chasing a lifestyle that is unattainable for most, focus on building something that lasts. Seek opportunities to learn about personal finance, invest in skills, and explore sustainable business ideas.
Consider putting money into assets that appreciate over time, such as real estate, stocks, or even a side hustle that offers long-term returns. Building a meaningful life also means finding value beyond material possessions. Pursue personal growth, invest in relationships, prioritize health, and learn to appreciate the things that truly bring happiness family, knowledge, experiences, and personal fulfillment.
In conclusion, while Lagos and other Nigerian cities continue to be hotbeds for the illusion of wealth, it is crucial that we shift the narrative. Let’s break the cycle, resist the pressures to conform, and begin making thoughtful, sustainable choices that can lead to true success, one built on a life of purpose. Only then can we break free from the chains of societal expectation and find lasting happiness, without risking everything in the pursuit of a fake life. The key to navigating this period is by adopting a meaningful private life and investing in things that matter, not in what the world sees. Good Luck!
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Dr Timi Olubiyi is an Entrepreneurship and Business Management expert with a PhD in Business Administration from Babcock University, Nigeria. He is a prolific investment coach, columnist, author, adviser, seasoned scholar, Chartered Member of the Chartered Institute for Securities & Investment (CISI), a member of the Institute of Directors, and a Securities and Exchange Commission (SEC)-registered capital market operator. He can be reached on the Twitter handle @drtimiolubiyi and via email: [email protected], for any questions, reactions, and comments.
The opinions expressed in this article are those of the author, Dr. Timi Olubiyi and do not necessarily reflect the opinions of others.
Nigeria’s financial services industry stands at a decisive crossroads as technology leaders prepare for the January 1, 2027, data residency deadline set by the Central Bank of Nigeria. The regulatory mandate requiring all payment transaction records, customer personally identifiable information (PII), and account ledgers to reside within domestic data centres is forcing a structural re-evaluation of banking IT architectures. For executive teams across the country, navigating this transition without interrupting daily banking operations is becoming the ultimate test of leadership.
For years, the industry’s reliance on foreign hyperscale providers delivered quick elasticity and global tools. However, transferring entire production stacks – encompassing real-time transaction processing, API gateways, and fraud scoring engines – back to local infrastructure requires significant engineering effort. With the country handling billions of electronic transactions annually, CIOs are seeking to preserve system uptime while severing deep operational dependencies on foreign data centres.
Experts have opined that the core challenge confronting financial technology teams is the lack of empirical, vendor-neutral benchmarks for domestic cloud platforms. Evaluating whether local data centres can sustain mission-critical financial traffic requires rigorous stress testing rather than relying on theoretical SLAs. The risk of potential downtime during a live migration makes vendor vetting the most crucial phase of the compliance roadmap.
To mitigate these operational risks, infrastructure partners like MTN are mobilising domestic capacity and technical insights tailored for the financial sector. By offering sovereign cloud solutions and collaborative engineering frameworks, MTN is helping CIOs and startups navigate the migration path with minimal disruption. Their localised infrastructure serves as an operational bridge, providing the uptime and data sovereignty assurances that both institutions and regulators require.
Lynda Saint-Nwafor, the Chief Enterprise Business Officer for MTN Nigeria, put it succinctly when she explained the upside of hosting data locally: “Hosting locally means lower latency, faster response times, and compliance with Nigeria’s data regulations. More importantly, it gives Nigerian businesses control, keeping sensitive financial, health, and government data within national borders.”
As the January 2027 benchmark approaches, the metric for success will depend on technical execution and operational discipline across companies.
By Osasikemwen Ighile
For many Nigerian families, the summer holiday is a season of fun, relaxation, and spending quality time together. But with the kids at home, more outings, higher electricity consumption, and extra entertainment costs, it’s also a period when expenses can quietly pile up.
The good news? You don’t have to choose between making memories and managing your finances. With a few smart habits, you can enjoy the holidays while keeping your savings goals on track.
Here are five practical ways to save smarter this summer.
1. Ditch Cash and Spend Smarter
Ever noticed how cash disappears faster than you expected? Whether it’s buying snacks for the kids, paying for transport, or making quick market runs, spending cash can make it difficult to track where your money goes.
Using a debit card can make it easier to track transactions and monitor spending. FairMoney customers can use their debit card for eligible transactions, subject to applicable terms and conditions. You can make payments conveniently at stores, shop online, and easily monitor your transactions. Instead of carrying cash everywhere, you get a clearer picture of your expenses and can avoid unnecessary impulse purchases.
Small changes like this can make a big difference over the course of the holiday.
2. The Kids Are Home—Stay Ahead of Your Utility Bills
School holidays often mean one thing: the TV is almost always on. From cartoons in the morning to football matches in the evening, your cable subscription becomes more important than ever. Add fans, air conditioners, gaming consoles, and other appliances, and it’s easy to see why electricity bills tend to increase during this period.
Rather than waiting until services are disconnected, planning and paying bills on time help households avoid unnecessary late-payment or reconnection charges. FairMoney customers can pay eligible bills and services through the platform, subject to applicable terms and service availability. You can conveniently pay for Cable TV subscriptions, Electricity bills, Internet subscriptions, Airtime and data for the entire family.
Paying bills on time can help reduce the risk of late payment consequences or applicable reconnection charges. Summer is filled with birthdays, outings, family visits, and spontaneous spending. While these moments are worth enjoying, your savings shouldn’t take a holiday.
3. Enjoy the Holidays—but Don’t Pause Your Savings
A simple strategy is to save first before spending. FairMoney customers can also use eligible savings products, such as FairSave and FairTarget, to set aside money towards specific financial goals, subject to the applicable product terms, conditions and eligibility requirements, even if it’s in small amounts. Already planning for the next school term? FairMoney customers can also use eligible savings products, such as FairSave and FairTarget, to set aside money towards specific financial goals, subject to the applicable product terms, conditions and eligibility requirements. Already planning for the next school term? Consider setting aside money regularly towards your school-fee goal. FairTarget can be used to help you organise savings around specific financial goals, subject to the applicable product terms, conditions and eligibility requirements. By starting early and saving consistently, you can better prepare for school-related expenses when the new term begins.
4. Plan Weekly Family Activities Instead of Daily Spending
The holidays don’t have to be expensive to be memorable. Instead of spending money every day on outings, cinemas, or restaurants, create a simple weekly activity plan. One weekend could be a family movie night at home. Another could be a picnic in a nearby park, a cooking competition, indoor games, or a visit to relatives.
Planning activities ahead helps you control spending while still giving everyone something to look forward to. Sometimes, the best memories cost very little.
5. Buy Household Essentials in Bulk
With everyone at home, groceries seem to disappear twice as fast. Instead of making frequent trips to the store, which often lead to impulse purchases, consider buying regularly used items in bulk.
Depending on the retailer and quantity purchased, some household essentials may offer better value when purchased in bulk.. You’ll spend less on transportation, reduce unplanned shopping, and avoid running out of important items.
Summer should be about creating happy memories not financial headaches. By spending more intentionally, paying your bills on time, planning ahead, and staying committed to your savings goals, you can enjoy everything the season has to offer without putting unnecessary pressure on your finances.
A few smart habits today can make the months ahead much easier. And that’s a win for every household.
Osasikemwen Ighile is the Brand Manager for FairMoney Microfinance Bank
Feature/OPED
Beyond the Screen: How Sports and Entertainment Keep Nigeria’s Economy Moving
When we talk about Nigeria’s economy, the conversation usually centres on oil and gas, banking, agriculture, manufacturing and technology. But there is another industry quietly creating jobs and driving economic activity: entertainment and sports. Most times, we only see the finished product. We watch the show, cheer during the match and move on to the […]
When we talk about Nigeria’s economy, the conversation usually centres on oil and gas, banking, agriculture, manufacturing and technology. But there is another industry quietly creating jobs and driving economic activity: entertainment and sports. Most times, we only see the finished product. We watch the show, cheer during the match and move on to the next thing. What we do not always see is the amount of work that happens before those moments reach our screens.
Take Big Brother Naija
When viewers tune in and see the housemates moving around the Big Brother house, it is easy to forget that the house itself is a product of many people’s work. From the interior designers and set builders who create the spaces to the electricians, carpenters, painters and technicians who bring them to life, an entire team works behind the scenes before the first episode even begins.
Once the cameras start rolling, the list gets even longer. Producers, directors, camera operators, sound engineers, editors, stylists, makeup artists, caterers, production assistants and security personnel all have a role to play. Then there is everything that happens outside the house. Publicists, photographers, videographers, digital teams, content creators and media platforms all contribute to keeping the conversation going. The housemates may be the faces audiences remember, but they are only one part of a much bigger entertainment ecosystem.
Sports have a similar impact
When the Super Falcons play a major game, the focus is naturally on the players and what happens on the pitch. But outside the stadium, the game can mean business for viewing centres, food vendors, restaurants and bars. Sports analysts and commentators have more to cover, content creators have something new to create around and businesses selling jerseys and football merchandise get an opportunity to make sales.
A major sporting event can turn an ordinary evening into a busy one for businesses that have little to do with what happens on the pitch. That is the part of sports and entertainment that is easy to overlook. The value is not only in the stars we see or the content we consume. It is also in the network of people whose skills and businesses keep these industries moving.
And this is where DStv and GOtv become an important part of the picture. They do more than give audiences access to the shows, matches and moments they care about. They connect the people producing this content with millions of viewers who keep the industry going.
Every time someone tunes in to Big Brother Naija, follows the Super Falcons or settles in for a major sporting event, they are engaging with an industry that supports producers, creatives, technicians, businesses and other professionals.
The impact of sports and entertainment, therefore, goes beyond what happens on the screen. By bringing some of the biggest entertainment and sporting moments to Nigerian audiences, DStv and GOtv help keep this ecosystem active, visible and working. Because sometimes, when we sit down to watch, we are not just consuming entertainment. We are also supporting an industry that provides jobs.
