KEY INSIGHTS

According to A2F2018 46.4m adult Nigerians found it very difficult to meet their basic needs when faced with financial shocks that led to unplanned expenses in the past. COVID-19 is likely to exacerbate these top 7 shocks which relate to health, economy&business conditions. This same data shows 58% of Nigerian adults who face financial shocks and are likely to be negatively impacted by COVID-19 are not borrowing, 42% are not saving, about 25M are aged between 18 & 35, about 12M earn 15K and below while another15M earn 35k per month.