Don Jazzy: Why most of young Nigerians go broke

Nigerian music executive Don Jazzy has shared his perspective on why many young Nigerians struggle to sustain wealth despite earning significant income.

Speaking on financial habits, he attributed the trend to spending on non-essential items rather than prioritising long-term value.

He emphasized the importance of responsibility, noting that financial success should also reflect in taking care of  family and making meaningful investments.

Don Jazzy highlighted that, despite having the means to afford luxury items, he chooses to focus on more impactful ventures. He encouraged youths to invest not only in businesses but also in personal development, including acquiring skills and knowledge that can generate income.

He also pointed to learning opportunities such as financial markets as part of self-investment, stressing that building capacity and making informed financial decisions are key to sustaining wealth.

The music executive said …

“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”