‘Why Nigerian youths go broke,’ Don Jazzy reflects on spending culture

Nigerian music executive Michael Collins Ajereh, popularly known as Don Jazzy has reflected on the spending culture of Nigerian youths.

While speaking in a recent video, the producer shared his perspective on why young Nigerians struggle to sustain wealth despite earning significant income.

Don Jazzy claimed that most young people tend to squander their income on non-essential items rather than prioritising long-term value and meaningful investments.

He pointed out the need for people to make informed financial decisions, noting that it is the key to sustaining wealth.

“The reason Nigerian youths go broke after making a lot of money is because they spend on irrelevant things and things they don’t need. I’ve been blessed enough for a long time to be able to afford any car that I want or even to buy a private jet or whatever but I have more important things to take care of, I have family to take care of… I’d rather invest in other things. There’s nothing that beats investment, including investing in your own self, including going to acquire knowledge of something you can charge people for. Even the Forex I’m learning now, I’m investing in myself,” he stated.