Human Angle: Savings - Living with Purpose and Compound Interest
Savings is a crucial tool for capital growth which further aids in economic growth and development through investments.
Today many Nigerians live below the poverty line not just because they have low incomes or poor salaries, but perhaps because of the inability to imbibe a savings and investment culture.
According to the data released by the National Bureau of Statistics (NBS) on Consumption Expenditure Pattern, Nigerians spent N40.20 trillion on household consumption expenditure in 2019. This shows that many consume more than they save or invest, which is quite alarming for a developing nation.
This edition of the Human Angle discusses "Savings: Living with Purpose and Compound Interest".