A new survey has revealed details of Nigerians’ budget and plans for the 2025 Valentine’s Day celebrationAccording to this report, about 12% of Nigerians will spend between N201,000 and N500,000 on gifts and outingsThe report also shares details about the kinds of gifts they plan to buy and the places that will receive the highest customer traffic
Henzodaily.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
Up to 11.7% of Nigerians have plans to spend between N200,000 and N500,000 on their Valentine’s Day gifts and outings.
Another 17% will spend between N101,000 and N200,000; 33% will spend between N51,000 and N100,000 on their Valentine’s Day plans, while 25% will spend between N10,000 and N50,000 on the special day.
This is according to the Valentine’s Day report from SBM Intelligence titled; LOVE IN THE AIR: HOW NIGERIAN CONSUMERS ARE DRIVING VALENTINE’S DAY GROWTH IN 2025.
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Valentines day in 2025 promises to be bigger and better, with more Nigerians planning to spend more this year.
Source: UGC
Nigerians are spending more in 2025
The report surveyed Nigerians between age 18 and 65, in three major cities – Lagos, Abuja and Port Harcourt, and showed that Nigerians plan to spend more on 2025 Valentine’s Day, compared to 2024.
The 2024 report showed that 32.4% spent between N10,000 – N50,000, 25.5% spent from N51,000 to N100,000.
Also, 14.8% had a Valentine’s Day budget of N101,000 – N200,000 in 2024, while 6.4% spent between N201,000 and N500,000.
This indicates that more people have increased their Valentine’s Day budget in 2025, compared to 2024.
In 2024, only about 1.59% spent above N500,000 for their Valentine’s Day plans, but now in 2025, up to 5% plan to spend above N500,000 for Valentine’s.
Places, gifts Nigerians will spend on Valentine’s Day
The survey also revealed that about 80% of respondents spend almost all their money on food and perfumes.
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Other gift options like jewellery at 28.2%, roses at 23.9%, and wristwatches at 23.4%. About 22.8% will be spent on female shoes and 22.3% on wigs and chocolates. Only about 10% plan to buy smartphones as gifts this Valentine’s.
In response to the question about places they can afford to spend the Valentine’s date, 27% of respondents indicated that they will visit restaurants. Another 20% will go for a movie date at the Cinema, 11% to hotels, 10% to different vacation spots within Nigeria, and 9% to Street food joints, popularly known as Buka.
Resorts and art galleries will get the lowest visitors with 1.7%, another 2.8% at parties and clubs, 6.1% at beaches, and 3.4% off for vacations abroad.
Why Nigerians will spend more on 2025 Valentine’s Day
The report shows a trend when compared to last year, that Nigerians are spending more in 2025 than they did in 2024.
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SBM gives reasons for this surge in spending;
“This spending surge is attributed to increased enthusiasm and rising inflation. Rising inflation and the escalating cost of goods and services have also contributed to the increase,
Valentine’s Day 2025 is set to break records in Nigeria. 85.6% of respondents plan to increase spending significantly, driven by enthusiasm and rising inflation, pushing consumers to allocate larger budgets for gifts, dining, and experiences.”.
Recall that headline inflation hit 34.8% in December 2024, up from about 9% in 2015.
This implies that most items cost more this year than in 2024. It means that even without a change in plans, Nigerians would spend more this year than in previous years.
Nigerians plan future Valentine’s day budget
In related news, Henzodaily.ng reported that up to 54.8% of Nigerians expect to spend more on Valentine’s Day celebrations next year.
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About 25.3% surveyed said that they hope to maintain the same spending budget in 2026, while 16% think that they might reduce their spending.
There is a 7% of respondents who showed no interest in celebrating Valentine’s Day and still don’t think they will participate in 2026.
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Source: Henzodaily.ng