Nigeria, like many other countries, is gearing up to celebrate Valentine's Day, but this year's festivities are taking place against the backdrop of high inflation rates. Despite the economic challenges, Nigerians are determined to make the most of the occasion, with 85.6% of respondents in a recent poll planning to celebrate, up from 62.8% in 2024.

The poll, conducted by SB Morgen in three major Nigerian cities - Abuja, Lagos, and Port Harcourt - reveals that Nigerians are motivated to celebrate Valentine's Day due to discounts and promotions, rather than societal expectations or peer pressure. A significant 79.3% of respondents stated that they do not feel pressured to overspend, and instead, are driven by personal sentiments and social media trends.

The survey also sheds light on the types of gifts Nigerians prefer to give and receive on Valentine's Day. Conventional gifts such as food, perfume, jewelry, flowers, and watches remain popular, with over 80% of respondents opting for these items. On the leisure front, restaurants, theaters, and hotels are the top destinations for Nigerians on Valentine's Day, indicating a significant revenue boost for the hospitality sector.

In terms of spending habits, the poll reveals that discounts and promotions, especially on social media, have a significant impact on consumer choices. Interestingly, personal sentiments (36.6%) and social media trends (25.3%) are the biggest influences on spending decisions, while tradition and societal expectations (19.9%) play a lesser role.

The survey's findings are a testament to the growing popularity of Valentine's Day in Nigeria, with 35% of respondents believing that the holiday's significance depends on the individual couple, 32.4% considering it somewhat significant, and 22.3% deeming it vital. Despite the economic challenges posed by high inflation rates, Nigerians are determined to make the most of the occasion and celebrate love and relationships.

The Nigerian government's inflation rate at the end of 2024 was 34.80%, compared to 28.90% at the beginning of the year. Since 2015, the nation's inflation rate has risen steadily, rising from 9% in 2015 to 33.2% in 2024. Despite these economic challenges, Nigerians are finding ways to adapt and celebrate special occasions like Valentine's Day.

In conclusion, the poll's findings suggest that Nigerians are driven by personal sentiments and discounts rather than peer pressure to celebrate Valentine's Day. As the country continues to navigate economic challenges, it is heartening to see that Nigerians are finding ways to prioritize love, relationships, and celebrations.