Black Tax and Social Pressure Burden Nigerian Workers

Adepoju discussed the issue of "black tax" and social pressure during a session in Abuja, highlighting how these factors are trapping Nigerian workers in debt. She explained that many people feel responsible for supporting extended family members, creating a cycle of financial stress that limits innovation and entrepreneurship in Nigeria.

Adepoju noted that the situation is exacerbated by social media and peer pressure, which encourage excessive borrowing to maintain lifestyles beyond one's means. She shared personal experiences of individuals receiving alerts from multiple loan sharks, indicating the severity of the issue.

Adepoju, who identifies as a financial strategist, agricultural entrepreneur, and public servant, urged workers to create alternative income streams and invest rather than relying solely on salaries. She emphasized the importance of disciplined long-term planning and breaking the cycle of debt driven by lifestyle spending.