Family is everything in Nigeria, but it also comes with a bill. According to the PiggyVest Savings Report 2024, over 70% of Nigerian income earners regularly provide financial support to extended family members or friends, with 46% doing so monthly.
A more recent Cowrywise analysis puts real numbers to it: some Nigerians send as much as 28-40% of their monthly income to family, money that disappears before rent, feeding, or personal savings are even considered. Beyond black tax, family money matters get even messier when it comes to sibling business partnerships and inheritance, where love, loyalty, and legacy often collide with cash.
This August, BusinessDay Gen Z Pick 2026 wants to hear from you: Is ‘black tax’ community care or quiet burden? Would you ever go into business with your brother or sister? And who really gets the inheritance when papa’s will isn’t clear?