Nigerians are set to increase their spending this Valentine’s Day, with nearly 80 per cent of consumers planning to buy food and perfumes, according to a new report by SBM Intelligence.
The report, Love in the Air: How Nigerian Consumers Are Driving Valentine’s Day Growth in 2025, highlights shifting spending patterns, rising budgets, and a growing preference for experience-based celebrations.
It read, “Almost 80% of consumers plan to spend their money on food and perfumes. The rest, 28.2%, 23.9%, 23.4%, 22.8%, 22.3%, 18%, and 10%, will spend on jewellery, roses, watches, female shoes, wigs, chocolates, hampers, and smartphones, respectively.”
The findings indicate that many Nigerians still value sentimental and practical gifts, with food and personal care items topping the list.
The report also suggests that while material gifts remain dominant, there is a growing preference for experiences such as dining and entertainment, as more people seek to make Valentine’s Day celebrations memorable beyond tangible presents.
The SBM survey, conducted across three major Nigerian cities Abuja, Lagos, and Port Harcourt—shows a sharp rise in participation, with 85.6% of respondents stating that they plan to celebrate the day, up from 62.8% in 2024.
While economic pressures persist, the report suggests that consumer spending remains strong, particularly in key retail categories.
Retail channels are evolving, with department stores and shopping malls remaining the most preferred destinations for Valentine’s Day purchases.
With more Nigerians embracing digital platforms, retailers with strong online presence and seamless payment options are likely to attract a larger share of Valentine’s Day shoppers.
The shift towards experiential spending suggests that businesses in the hospitality, entertainment, and travel industries stand to benefit significantly.
With more people prioritising quality time and shared experiences, restaurants, cinemas, and resorts are likely to see an increase in demand.
Personal sentiments remain the primary driver of Valentine’s Day spending, with 36.6 per cent of respondents stating that emotions influence their purchasing decisions.
Social media trends also play a significant role, shaping the buying habits of 25.3 per cent of consumers.
While tradition and societal expectations account for 19.9 per cent of spending motivations, advertising and promotional campaigns influence 16.7 per cent of buyers.
Despite the increase in spending, the report reveals that most consumers do not feel pressured to overspend. Approximately 79.3 per cent of respondents indicated that societal expectations do not influence their purchasing decisions.
However, discounts and promotional offers remain effective in driving purchases, as 58.5 per cent of respondents said they are more likely to spend when presented with deals and special offers.
However, discounts and promotional offers remain effective in driving purchases, as 58.5 per cent of respondents said they are more likely to spend when presented with deals and special offers.
While many Nigerians plan to celebrate Valentine’s Day, a significant number tend to make last-minute purchases.
The report shows that 35 per cent of respondents plan just a few days before the event, while 30.9 per cent prepare one to two weeks in advance.
Meanwhile, 17.6 per cent wait until the same day to finalise their purchases and plans.
The trend of last-minute shopping presents an opportunity for retailers to leverage flash sales and quick-delivery services to cater to spontaneous buyers.
With a large proportion of consumers making decisions at the eleventh hour, businesses that offer convenience and attractive promotions stand to gain.
While most consumers are focused on practical and sentimental gifts, a significant number express a desire for luxury experiences.
These insights suggest that there is an untapped market for premium services and travel-related offerings, particularly among high-income earners who prioritise unique and memorable experiences.
The increase in Valentine’s Day spending is expected to provide a boost to the retail, hospitality, and entertainment industries.
Additionally, businesses that offer early-bird discounts and flash sales are likely to capture both advance planners and last-minute buyers.