Why young Nigerians go broke, by Don Jazzy

Music executive Michael Collins Ajereh, popularly known as Don Jazzy, has attributed the financial difficulties faced by many young Nigerians to poor spending habits and lack of investment discipline.

In a recent video, the founder of Mavin Records said many youths tend to spend large earnings on non-essential items rather than prioritising long-term financial security.

He stressed that making informed financial decisions is key to sustaining wealth, noting that unnecessary luxury spending often undermines financial stability.

Don Jazzy explained that although he can afford high-end assets such as luxury cars or even a private jet, he chooses to focus on family responsibilities and strategic investments.

He also highlighted the importance of personal development, citing his ongoing efforts to learn forex trading as an example of investing in skills that can generate income.

According to him, building knowledge and acquiring assets that yield returns offer greater long-term value than spending on items with no financial benefit.

He maintained that consistent investment, including self-development, remains one of the most reliable paths to financial growth and sustainability.