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5 Tips to Lower Your Living Costs
We are experiencing tough economic times in Nigeria and around the world. The cost of food and other essential commodities has skyrocketed, meaning that most of us will have to adjust our lifestyles accordingly in order to live somewhat comfortably.
As we hope for things to get better, here are five suggestions on how to save money at home.
1. Review current expenses
Start by listing all your monthly expenses, such as rent, food and groceries, transport, airtime, power, water, personal upkeep, and so on. Analyse each item critically, as this will paint a clearer picture of your spending habits and give you an indication of what you can cut back on and what you can do without entirely.
Memberships and subscriptions are loopholes for spending money unnecessarily because people tend to pay and not utilise these services accordingly. Check how you use your monthly TV subscriptions or gym memberships, and consider cancelling them if they are hardly used or switching to less expensive packages that suit your needs. Upgrade when necessary or over the holidays when you have more time to spare. The same applies to internet services as well.
2. Shopping options
Take the time to identify multiple service providers and retailers for price comparisons. Doing this will help you settle on cheaper or more affordable alternatives to fit your budget. Another cost-saving tip is to consider bulk buying non-perishable items, which is becoming increasingly popular in Nigeria as more people move towards bulk shopping from wholesalers. If you live alone and are concerned about the quantity of the goods, pair up with someone else and split the items with them.
Don’t shy away from signing up for reward programmes commonly referred to as “points” offered by local supermarkets. They always come in handy when you have stretched your budget, and you can use them to top up the difference. Keep an eye out for daily or weekly bargains on household items frequently advertised by supermarket chains.
Also, start planning your meals on a weekly or monthly basis. A meal plan guides you when grocery shopping, helping reduce food wastage because you only buy what you need for the meals. This is especially true of groceries, which we are all guilty of purchasing in excess from time to time.
3. Outsource help
Releasing your live-in housekeeper and scheduling a domestic worker from SweepSouth Connect to come in once or twice a week to clean your home is a viable cost-cutting approach if you live alone, have older children, or other adults staying with you. Assign the remaining light responsibilities to the rest of the household.
“Security and safety are important to us, and all our staff go through thorough vetting before enlisting their services,” says Awazi Angbalaga, Country Manager for SweepSouth Connect Nigeria, an on-demand online home cleaning service platform that connects people with trusted domestic professionals. “We understand the need to have someone trustworthy in your home. Once you’ve given instructions, allow them to carry out their tasks with the confidence that the cleaning will be completed to the utmost standards,” says Angbalaga.
“Getting in a cleaner to help you with time-intensive chores like windows, cleaning kitchen cabinets, the fridge and oven, so that your house looks sparkly clean, frees you up to be able to spend time on other responsibilities you may have,” she adds.
For homes with two housekeepers, consider letting one go if you can no longer afford both and hire help as and when the need arises.
4. Save energy
Electricity is one of the most costly but necessary household expenses. Switch from the ‘normal’ light bulbs known as incandescent bulbs to LED bulbs as they are more energy-efficient and last longer. Carefully select and use the most energy-efficient settings on your washing machine and run it only once or twice during the week. If you have a dryer, rather hang your clothes outside to dry. Layer up, whether inside or outside the house, to keep warm so that you won’t have to use heaters unnecessarily.
Other small tips, like ensuring the lights are off when not needed, and taking shorter showers go a long way. Cooking in bulk and freezing the food saves gas and time. It also comes in handy on days when you can’t cook for one reason or another, and then you have ready-to-go meals.
5. Lifestyle
We all like to enjoy the little joys and comforts that life offers. However, when tough times call, we should be ready to scale down on these luxuries.
Reduce the number of times you eat out or buy take-outs in a month. It will save you more money and is also a healthier option for you in the long run. Carpool to work or other engagements with a friend or relative who lives in or around your neighbourhood. Share the cost of fuel or alternate cars every week. Examine how much you spend on grooming each month, and do what you can at home.
There are many ways one can cut costs on the home front. However, for this exercise to be successful, honesty with oneself is required to make an informed judgement when making the necessary changes. If you struggle to be honest with yourself or you need assistance, consider engaging a financial planner to help you shift your focus to the right things, put your money into perspective, and give you sound advice.
Bright Echefu, chief executive officer, Telecom Satellites Limited (TStv), and three co‑defendants appeared before the Federal High Court in Abuja yesterday on an amended twelve‑count indictment brought by the Economic and Financial Crimes Commission (EFCC). The charges allege money laundering, tax evasion, and investment fraud involving approximately ₦1 billion and $1.3 million.
Bright Echefu, chief executive officer, TStv
In addition to Echefu, the defendants are TStv Executive Director, Felix Igboanuga, Telecom Satellites Limited itself, and Briechberg Investment Ltd.
According to the April 5, 2025, amended charge sheet the EFCC accuses the quartet of defrauding Mr. Tanimu Turaki, Managing Director of Kalsiyam Global and former Minister of Special Duties, alongside BYI General Limited, out of a combined investment of ₦1 billion and $1.3 million. The commission has also included a ₦66 million alleged tax default.
The revised indictment lists:
Count 2: ₦33,909,542.47 in unremitted Company Income Tax
Count 3: ₦13,519,382.00 in unremitted VAT
Count 4: ₦19,488,860.00 in unremitted PAYE
Counts 5–12: Various fraud‑related transactions, including ₦380 million from Kalsiyam Farm, ₦400 million from BYI General Ltd and $1.35 million in loans secured under false pretences.
All defendants pleaded not guilty once again. At the hearing before Justice Mohammed Umar, Echefu’s lead counsel, Senior Advocate Eyitayo Fatogun, informed the court of ongoing settlement discussions with the complainants.
“There are moves to settle this matter and there was a meeting on Saturday between myself and the Nominal Complainant as it is about investment,” Fatogun stated.
“The Defendants have paid some money and I was thinking that the matter be adjourned for report of settlement.”
EFCC counsel A.S. Tomwell confirmed receipt of those payments but emphasized the necessity of entering a plea before considering any adjournment. The court thus ordered the formal reading of the charges and adjourned the trial to October 15, 2025.
The government of Ghana has ordered MultiChoice Ghana to reduce DSTV subscription costs by 30%, noting the significant appreciation of local currency and growing dissatisfaction with current rates.
This comes as Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria ₦766,242,500 for breaching the Nigeria Data Protection Act (NDPA).
According to Mr Babatunde Bamigboye, head Legal, Enforcement & Regulations, NDPC, the investigation, which commenced in the second quarter of 2024, was triggered by suspected breach of privacy rights of Multichoice subscribers and illegal cross-border transfer of personal data of Nigerians.
MultiChoice, which operates across Africa, continues to lose revenue and subscribers.
Ghana’s minister of communication, digital technology, and innovation, Samuel Nartey George, made the call last week during a meeting with a DSTV team led by Dr. Keabetswe Modimoeng, group executive for regulatory and corporate affairs.
According to a ministry statement, George said the government’s responsibility is to respond to Ghanaians’ concerns over high DSTV pricing and outdated content offers.
The Minister pointed out that despite a 30% increase in the cedi’s value over the past five months; DSTV prices have not reflected the positive economic trend.
The statement went on to say the minister is therefore calling for a 30% price reduction to match the cedi’s appreciation and to pass on economic benefits to consumers.
According to the statement, while MultiChoice has implemented promotional packages, people prefer a direct price reduction over temporary discounts.
George said feedback from public engagements revealed that many users are dissatisfied with DSTV’s content, describing it as outdated save for Premier League football. They also believe that the current cost is not justified.
”To address the concerns, he said MultiChoice Ghana has until July 21 to formally respond to the government’s request. The Minister expects a concrete proposal by this date, allowing time for further engagement before the end of July,” the statement said.
In response, Dr. Modimoeng acknowledged the government’s concerns and expressed gratitude for the opportunity to dialogue.
The MultiChoice team reacted positively to the minister’s request and committed to provide input by July 21st. They emphasised the need of balancing public interest and business sustainability.
This is the continent’s latest pricing conundrum for the pan-African pay-TV business, following fee disputes with Nigerian and Malawian authorities.
In Ghana, the demand for price cuts comes as MultiChoice is under pressure, having lost revenue and subscribers in the financial year that ended March 31, 2025. Last month, the company announced its financial year-end results.
In a statement to shareholders last month on the Stock Exchange News Service, the company said the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across Sub-Saharan Africa due to challenging macro-economic factors.
Combined with the impact of structural industry changes in video entertainment, such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it noted.
Over this period, MultiChoice said the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its top line due to local currency depreciation against the US dollar.
For the year, the company reveals that linear subscribers were down 1.2 million, or 8% year-on-year, to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and rest of Africa (600 000).
Nigeria Data Protection Commission (NDPC) has fined MultiChoice Nigeria ₦766,242,500 for breaching the Nigeria Data Protection Act (NDPA).
NDPC is a public institution that processes data in furtherance of its mandate as Nigeria’s data protection authority and relies on recognised lawful bases for data processing, such as consent, legal obligation, and contract.
The fine was contained in a statement signed by Mr Babatunde Bamigboye, head Legal, Enforcement & Regulations, NDPC.
According to him, the investigation, which commenced in the second quarter of 2024, was triggered by suspected breach of privacy rights of Multichoice subscribers and illegal cross-border transfer of personal data of Nigerians.
“The NDPC found, among others, that Multichoice violated the data privacy rights of subscribers and their friends who are not necessarily subscribers.
The Commission also found that Multichoice carries out illegal cross-border transfer of personal data relating to data subjects in Nigeria.
The depth of data processing by Multichoice is patently intrusive, unfair, unnecessary, and disproportionate.
This is a grave affront to fundamental right to privacy as enshrined in Section 37 of the 1999 Constitution of the Federal Republic of Nigeria.
In line with its standard remediation procedure, the Commission directed Multichoice to carry out appropriate remedial measures.
However, the Commission found the measures undertaken by Multichoice in this regard unsatisfactory.
For want of cooperation, the Commission has directed Multichoice to pay ₦766,242,500 for violating the Nigerian Data Protection Act.
“Nigeria is entitled to protect her citizens and data sovereignty under both international and extant municipal laws, as these have far-reaching implication for rule of law, national security, and economic growth.” the statement said.
Babatunde also revealed that, Vincent Olatunji, national Commissioner, NDPC, has directed that all outlets through which Multichoice is collecting personal data of Nigerian citizens should be investigated for non-compliance.
He added that any outlet that processes personal data in violation of the NDP Act is liable to penalty under the Act.
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