For most Nigerians, monthly income barely stretches to cover essential needs, with households constantly juggling costs for food, rent, transportation, and other necessities.
Spending patterns reflect the priorities and pressures faced by families across the country, from ensuring basic survival to meeting social and personal obligations.
The following ranking of the top 10 things Nigerians spend their money on each month highlights the main areas where households allocate their income.
The figures are based on thousands of validated survey responses for the 2025 year and represent median monthly spending, as analysed in the Spending Analysis section of Risevest’s The Cost of Living Report 2025.
The data provides insight into how Nigerians manage their finances across essentials, discretionary spending, and cultural commitments.
Rent ranks second among Nigerians’ monthly expenses, with households spending a median of N75,000 per month on accommodation.
In Nigeria, rent is typically paid annually, so this monthly figure represents the average cost calculated from yearly payments for apartments or houses.
The country faces a significant housing supply gap, with the Federal Ministry of Housing and Urban Development estimating a deficit of 14.925 million units, while industry operators put the figure at over 20 million units.
Several interventions have been launched by both state and federal governments, including the Renewed Hope Estates and Cities programme, and some projects have already been completed.
Despite these efforts, housing supply remains limited, particularly in urban areas, driving rents higher and putting pressure on household budgets.
