Valentine’s Day is upon us! The air is thick with love, but for many, this time comes with a great financial burden. Across Nigeria, florists, restaurants, and gift vendors are witnessing a surge in demand as couples prepare for February 14.
However, taking a closer look at the romantic gestures lies a growing concern: the financial burden that often accompanies the season of love. From overpriced gifts to pressure-induced spending, many individuals find themselves financially stretched in a bid to meet heightened expectations. But is all this spending necessary, or is Valentine’s becoming a well-packaged financial trap for lovers?
The price of love
A survey by a Lagos-based consumer research firm found that over 60% of Nigerians spend beyond their budget on Valentine’s Day. The reason? Social expectations and fear of disappointing a partner.
“I just wanted to make my girlfriend happy,” says Martins Otite, a 32-year-old driver in Lagos. “Last year, I spent nearly ₦200,000 on a dinner date, gifts, and a weekend getaway. By the end of the month, I was struggling to cover my bills.”
Martins’ experience is not unique. Across the country, many individuals face similar dilemmas, feeling compelled to meet the rising cost of Valentine’s Day celebrations.
Love packages
A quick market survey reveals a sharp increase in the price of Valentine’s Day essentials. At major Lagos malls and online stores, red roses that sold for ₦10,000 in January now cost up to ₦35,000. Restaurants, too, have adjusted their pricing, with “Valentine’s Specials” costing significantly more than regular meals.
“We see a 40% increase in prices around this time,” says Amaka Udeh, a florist in Ikeja. “People want to impress their partners, so they’re willing to pay more for flowers, teddy bears, and customized gifts.”
For vendors, the season is a financial goldmine, but for consumers, it raises concerns about emotional spending—purchases driven by pressure rather than affordability.
Love scams and “urgent 2k” requests
Beyond formal businesses, personal finance traps are also common. In some cases, individuals use Valentine’s Day as an opportunity to solicit money under the guise of love.
“Every year, I get sudden messages from people I barely talk to,” says Godwin Emmanuel, a techie in Lagos. “Some will start calling me ‘baby’ out of nowhere, while others will hint at how they wish they could ‘look good and come visiting’ if only they had money for hair and nails.”
For men, the financial expectations can be even higher. “I once dated someone who made me feel like I had to book a five-star hotel and get her an iPhone just to prove my love,” says Isaac Daniel, a flight dispatcher in Lagos. “I’ve learned my lesson—now I set my budget and stick to it.”
Financial experts weigh in
Financial analysts caution against reckless spending in the name of love. According to financial coach Tunde Bamidele, emotional spending can lead to long-term financial strain.
“Valentine’s Day is just one day,” Bamidele explains. “It shouldn’t put you in financial distress for the rest of the month. If you’re spending beyond your means, you might need to reassess your priorities.”
Experts recommend setting a spending limit, opting for meaningful yet affordable gifts, and focusing on experiences rather than expensive items.
Enjoy Valentine on a Budget
Interestingly, some Nigerians are redefining Valentine’s Day by embracing more budget-friendly celebrations. Instead of luxury dinners, many couples are cooking at home, having picnic dates, or exchanging heartfelt letters instead of extravagant gifts.
“I told my husband we should cook together and watch a movie at home,” says Funmi Oghuan, a newlywed in Lagos. “Love isn’t about how much you spend, but how much effort you put into making each other happy.”
As February 14 approaches, the pressure to spend lavishly will only intensify. However, experts and financially conscious individuals alike agree on one thing: love should never come at the cost of financial security
