Industry leaders and policy experts gathered at the third Piggyvest Finance Roundtable to discuss the shifting landscape of Nigeria’s economy, driven by new data from the 2025 Piggyvest Savings Report. The discussion centred on the ‘survival versus growth’ paradox currently facing millions of Nigerians.

In her opening remarks, Co-founder and Chief Operating Officer of Piggyvest, Odunayo Eweniyi, highlighted a critical barrier to economic resilience. She said, “The key takeaway from this gathering is the massive financial literacy education gap that exists. The scale of the work ahead is massive; I do not know exactly how we are going to do it yet, but collaboration between fintechs and the government is the first point to getting started.”

The roundtable focused on the report’s finding that 53 per cent of Nigerians no longer save monthly, a sharp decline from previous years.

The Chief Executive Officer of Piggyvest, Somto Ifuezue, noted that the platform is pivoting its product strategy to reflect the ‘pocketbook reality’ of its 5.5 million users.

He said, “Our customers have shared that their salaries simply no longer last until the end of the month. In 2025, our mission is to move beyond just ‘saving’ and provide tools that help users manage daily expenses just to ensure they make it to the next payday.”

Representing the public sector, the Ekiti State Commissioner of Finance, Akintunde Oyebode, emphasised that private-sector data is now essential for government planning. He said, “In a market where reliable consumer data is painfully scarce, this report is a breath of fresh air. It provides the granular insights that policymakers and companies need to understand how inflation is actually hitting the average household.”

Finally, the Head of the Innovation Unit at the Nigeria Data Protection Commission, Chidera Ike-Okonkwo, warned of the social cost of the current economic climate, saying, “It is sobering to see the data on how many Nigerians are turning to loan apps just to stay afloat. I am hoping these discussions lead to better innovation, not just more apps, but actual solutions that protect Nigerians from falling into permanent debt.”