Bunmi Alofoje

A lot of young Nigerians are not borrowing money to build businesses.

They are borrowing money to simply get through the month.

To pay rent.
To sort out transport.
To buy food.
To handle that unexpected bill.
To survive until the next income comes in.

And yet, many of them still believe things will get better.

I find that interesting.

Because we often look at young Nigerians struggling financially and say:

“They need to manage their money better.”

“They need to save more.”

“They need an emergency fund.”

But let’s be honest.

What happens when the money coming in is barely enough to cover the things going out?

You cannot budget your way out of an income problem forever.

And this is where I think we need to have a more honest conversation about money in Nigeria.

A lot of people are doing more than one thing.

They have a 9–5.

They sell something on the side.

They freelance.

They create content.

They run a small business.

They take on extra jobs.

Not necessarily because they are greedy.

Because one source of income is no longer enough for the life they are trying to maintain.

And this is the part that worries me.

Someone can look financially okay from the outside and still be one unexpected expense away from serious financial pressure.

The new phone is there.

The nice clothes are there.

The social media posts are there.

But the financial cushion isn’t.

So when something happens, the first option becomes:

“Where can I borrow money?”

And I don’t think the answer is to shame people for borrowing.

Sometimes people genuinely need help.

But we need to build a system where borrowing isn’t the only thing standing between someone and their next meal, rent payment or emergency.

And no, the answer isn’t always:

“Get a bigger salary.”

Because many people are already working incredibly hard.

The bigger conversation is:

How do we increase income, build multiple income streams, reduce unnecessary financial pressure, and create some breathing room?

Because financial stability isn’t about looking successful.

It is about being able to survive when life doesn’t go according to plan.

And honestly, I think this is a conversation we need to have more often in Nigeria. 🇳🇬

Are you currently relying on one source of income, or do you have more than one?

Let’s talk about something many business owners are afraid to do.

Raise their prices.

You know you should.

Your experience has grown.

Your work is better.

Your results are better.

Your expenses have increased.

But every time you think about increasing your price, one thought comes:

“What if my customers leave?”

So you leave the price where it is.

And keep working harder.

Then you take on more clients just to make the same money.

You have less time.

You’re tired.

You’re rushing.

And eventually, the quality of your work starts suffering.

This is the part I want you to think about:

Underpricing doesn’t only affect your income.

It affects the kind of business you can build.

Now, I’m not saying increase your price randomly.

Your price should make sense for your market, your positioning, your costs and the value you’re creating.

But if your business has grown significantly and your price hasn’t moved in two years…

You need to have that conversation with yourself.

Because sometimes the price you’re afraid to increase is the very price keeping your business stuck.

So tell me:

When was the last time you increased your price?

Be honest. 👇🏽

Episode 20 of 30.