If you spend enough time on Nigerian social media space, you’d think every young person is a tech bro or creator with five different side hustles. You’d also think the firstborns are the only ones suffering from family billing.
But the new Piggyvest Savings Report 2025 shows that the internet is lying to us.
Piggyvest asked over 26,000 Nigerians about their money, and the truth is pretty harsh. Gen Z is actually the most broke and vulnerable age group right now. And surprisingly, middle children are the ones carrying the heaviest family billing, not the firstborns.
Here is what the numbers actually say.
The Gen Z “Multiple Income” Myth
The biggest lie about young Nigerians is that everyone has multiple side hustles. The reality? Gen Z is the most likely age group to rely on just one source of income.
A massive 74% of Gen Z survive on just one income stream. Only 26% actually have that second or third hustle.
And the money they do make isn’t a lot. Gen Z is the most likely to earn below ₦100,000 or have no income at all.
Just look at the breakdown:
-
40% have absolutely zero monthly income.
-
37% earn below ₦100,000 monthly.
-
15% earn between ₦100,000 and ₦249,999.
-
Only 1% earn ₦1,000,000 or above.
Because of this low pay, they have almost no safety net. Only 31% of Gen Z have an emergency fund. If a sudden bill or medical emergency drops, the vast majority have absolutely nothing to fall back on.
The “Middle Child” Black Tax
While Gen Z struggles to make ends meet, another quiet crisis is happening with family billing.
We usually pity the firstborns when it comes to the “Black Tax” (sending money back home). But the data shows we’ve been looking at the wrong siblings. Today, middle children are actually carrying the heaviest burden.
Here is exactly who is funding the family:
-
Middle children: 51% pay black tax.
-
Oldest children: 48% pay black tax.
-
Only children: 43% pay black tax.
-
Youngest children: 36% pay black tax.
The fact that half of all middle children are actively paying black tax shows that family billing doesn’t just stop at the oldest child anymore. It has shifted heavily onto the siblings in the middle.
The Takeaway
The Piggyvest Savings Report 2025 gives us a major reality check. The rich Gen Z techie with multiple incomes is the exception, not the rule. Most young Nigerians are just trying to survive on low pay with no backup funds. Meanwhile, middle children are quietly stepping up to fill the family gaps.
If we want to talk about surviving the Nigerian economy, we need to start being honest about who is actually carrying the weight.
Read the full findings and insights: Click here to read the Piggyvest Savings Report 2025
