Nigerians spend more on Valentine’s despite rising inflation – Report

A report by SBM Intelligence, a research firm, has shown that many Nigerians are splurging more on gifts for 2025 Valentine’s Day celebrations than they did in 2024. Valentine’s Day is celebrated annually on February 14 all over the world. It was initially set out to honor a martyr called Valentine, but has become an annual celebration of romantic love and friendship. The report by SBM Intelligence however noted that the country’s rising inflation has affected Valentine’s Day celebrations in recent years. Prices for popular gifts such as flowers, chocolates and dining out have surged, making celebrations more expensive,” the report read in part. This year 33% of respondents plan to spend between N51,000 and N100,000, compared to 32.4% last year who spent N10,000 and N50,000,” the report read in part.