Business

Nigerians Hustle Culture: Is It Really the Key to Success?

Published

4 months ago

February 16, 2025

Photo source: Google

In Nigeria, “hustle” is working hard to make a living. From busy markets in Lagos to tech centers in Abuja, Nigerians are known for their determination to succeed. But is this constant hustle the true path to success, or does it have hidden costs?

Hustle Culture in Nigeria

Hustle culture praises constant work, suggesting that success comes from never-ending effort popularly named “do or die”. In Nigeria, this idea is strong.

Economic challenges and a young population mean many Nigerians have multiple jobs due to low income. They believe that working all the time is the only way to achieve financial security and balance.

How Hustle Affects Different Social Classes

Hustle culture impacts Nigerians differently based on their social class:

Upper Class: Wealthy individuals often have the means to hire help, allowing them to focus on big projects. Their hustle might involve managing investments or expanding businesses.

Middle Class: Making up about 23% of the population, the middle class includes professionals and small business owners. They often balance regular jobs with side businesses to maintain their lifestyle and aim for a better future.

Working Class and Underclass: Facing financial difficulties, people in this group take on various informal jobs, like street vending or crafts. For them, hustling is essential to meet daily needs.

Pros and Cons of Hustle Culture

While a strong work ethic can lead to innovation, resilience and financial stability, there are downsides:

Burnout: Constant work can cause physical and mental exhaustion. A report showed that 64% of Nigerian workers are at high risk of burnout, due to both physical and emotional stress.

Loss of Personal Time: Putting work above personal life can harm relationships and reduce overall happiness.

Risky Ventures: The pressure to succeed might push some towards unethical activities, such as internet fraud, locally known as “Yahoo Yahoo.”

Finding a Healthy Balance

Success doesn’t have to mean endless hustle. A balanced approach can lead to lasting achievement:

Quality Over Quantity: Working efficiently, rather than for long hours, can increase productivity and leave time for personal life.

Self-Care: Taking care of your health ensures long-term success. Regular breaks and clear boundaries are important.

Redefining Success: Focusing on personal fulfillment instead of just material wealth can lead to a more satisfying life.

Many Nigerians work hard every day for little pay, struggling to keep up with the high cost of living. The stress and fatigue from constant hustling take a toll on their health, and some even lose their lives without fully enjoying the results of their labor. This is a common reality in Nigeria.

While the Nigerian hustle spirit has driven many to success, it’s important to recognize the potential downsides of an unbalanced approach. By redefining success and prioritizing well-being, Nigerians can reach their goals without sacrificing health and happiness.

Business

MRS Increases Petrol Price to N955 Per Litre as Oil Price Goes Up

Published

23 hours ago

June 22, 2025

Gift Ogieva

Photo source: Google

MRS filling stations, a key partner of Dangote Refinery, has announced a new petrol price hike, raising its pump prices across the country. In a price update shared on its official X page on Saturday, the company revealed that the new rates now range from N925 to N955 per litre, up from the previous N825 to N895 range.

This means petrol will now sell for N925 in Lagos, N935 in the South-west, N955 in the North-west and South-east, N945 in the North-central, and N955 in the North-east. For Lagos and Abuja, motorists will now pay N925 and N945 per litre at MRS stations, an increase from N875 and N895 respectively.

Meanwhile, NNPC retail stations have kept their pump prices unchanged at N875 in Lagos and N895 in Abuja as of Saturday evening. The nationwide increase comes amid rising global crude oil prices triggered by tensions in the Middle East, particularly the ongoing Israel-Iran conflict.

Business

Aliko Dangote to Step Down as Dangote Sugar Chairman After 20 Years

Published

1 week ago

June 13, 2025

Gift Ogieva

Photo source: Google

Aliko Dangote is stepping down as Chairman of Dangote Sugar Refinery Plc after two decades of steering the company’s growth and transformation. His retirement will officially take effect on June 16, 2025.

The announcement was made in a statement signed by the company’s secretary, Temitope Hassan, who praised Dangote’s contributions since he took over leadership in 2005. Over the years, he has played a major role in shaping Dangote Sugar into a top player in Nigeria’s sugar industry, overseeing its expansion and pushing key reforms in governance and operations.

During his time at the helm, the company rolled out several major projects focused on backward integration, setting up large-scale sugar production facilities in Adamawa, Taraba, and Nasarawa. These projects were designed to boost local output and cut down on the country’s reliance on imported sugar.

As part of a planned succession process, the board has named Arnold Ekpe as the incoming Chairman. Ekpe, who is currently an Independent Non-Executive Director on the board, will take over on the same day Dangote retires.

Ekpe brings decades of leadership experience, having served as Group CEO of Ecobank and held top positions across different industries. The board expressed confidence in his ability to lead the company into its next phase while also thanking Dangote for his outstanding service and dedication throughout the years.

Business

Ecobank Announces $250M Capital Boost at Annual General Meeting in Togo

Published

3 weeks ago

May 30, 2025

Ese Ohwofa

Ecobank Group is reportedly set to raise up to $250 million through an Additional Tier 1 (AT1) capital offering in order to strengthen the bank’s capital base.

This was revealed during the company’s annual general meeting held in Togo on the 29th of May, 2025. According to the meeting, the bank stated that the conversion price for the shares will be based on the higher of the prevailing exchange rate and the floor price of $0.02 per ordinary share.

The speaker stated “As we cast our eyes into the future and reimagine all possibilities—rising competition from banks, fintechs, and non-bank financial institutions, as well as factors such as geopolitics, regulations, and capital markets—we cannot afford complacency.”