PiggyVest Shifts Focus to Income Growth as Inflation Bites

You want your money to grow, not shrink. But with inflation at 15.91% in June 2026, every naira you keep in a traditional savings account is losing value. That’s why PiggyVest shifts focus to income growth as inflation hits savings. The company announced this at its 2026 Open House in Lagos, themed ‘The Future of Wealth is Here’. Co-founder Joshua Chibueze said user numbers are still rising, but the rate at which customers save is falling. The fix? Help you earn more.

This guide shows you how to follow PiggyVest’s ne w direction. You’ll learn why saving alone won’t cut it, how to boost your incom, and the mistakes to avoid. By the end, you’ll have a clear plan to protect your naira and grow your wealth.

Why PiggyVest Shifts Focus to Income Growth (And Why You Should Too)

Saviing becomes harder when your disposable income is squeezed. Chibueze said exactly that: “Saving becomes more difficult when disposable income is under pressure.” PiggyVest’s own savings report found that only 6% of respondents were satisfied with their financial situation. That’s a shocking number.

Inflation is the culprit. At 15.91% year-on-year in June 2026, prices are still rising, though slower than the 22.2% in July 2025. According to BusinessDay, consumer goods companies are losing pricing power as inflation eases. But for you, the damage is done: your salary buys less.

If you keep N100,000 in a savings account earning 4% interest, you’re losing about 12% in real terms every year. That’s N12,000 gone. No wonder only 6% are satisfied. The solution isn’t to save harder; it’s to earn more.

Step 1: Track Your Income and Expenses Honestly

You can’t grow what you don’t measure. for one month, write down every naira that comes in and goes out. Use a notebook or a free app. Most people underestimate their spending by 20-30%.

Look for leaks: unused subscriptions, impulse buys, transport you could avoid. But don’t just cut. The goal is to see how much room you have to invest in income-generating activities.

Step 2: Build an Emergency Fund First

Before you chase income growth, secure a base. PiggyVest co-founder Odunayo Eweniyi urged Nigerians to save consistently, regardless of the amount. Aim for at least three months of living expenses in a easy-to-access savings account.

If you spend N150,000 monthly, that’s N450,000. Yes, it’s a lot. But it stops you from dipping into investments when life happens. Start small: N10,000 weekly. In 45 weeks, you’re there.

Step 3: Use PiggyVest’s New Tools to Invest in Income-Generating Assets

PiggyVest CEO Somtochukwu Ifezue said the company rebuilt its app with new features: joint accounts, children’s accounts, and a revamped investment offering. The platform now lets you invest in commercial papers and debt notes issued by local companies. These are not hype; they’re real instruments.

Commercial papers are short-term loans companies use to fund operations. They typically offer higher returns than savings accounts. But they carry risk: if the company defaults, you could lose money. Only invest what you can afford to lose.

According to FSDH Asset Management, mutual fuds offer structured risk management and often inflation-beating returns. PiggyVest’s investment products are a step in that direction, but they are not a magic bullet. Do your research.

Step 4: Increase Your Earning Capacity

PiggyVest’s new focus is on connecting users to opportunities that improve earnings. That means you need to actively seek higher income. Here’s how:

– Ask for a raise. If you haven’t had one in 12 months, prepare a case. Show your value. Inflation means your real pay has dropped.

– Start a side hustle. Use skills you already have: writing, design, tutoring, coding. Even N50,000 extra monthly can change your savings game.

– Sell unused items. That old phone, clothes, or furniture can become cash.

– Learn a high-income skill. Digital marketing, data analysis, or project management. Free resources exist on YouTube and Coursera.

Remember, income growth isn’t about overnight riches. It’s about consistent effort. Chibueze said PiggyVest will increase financial education and expose users to opportunities. Take advantage.

Step 5: Automate Your Savings and Investments

Willpower fails. Automation works. Set up autopmatic transfers from your salary account to PiggyVest on payday. Even N5,000 weekly adds up to N260,000 in a year, plus interest.

For investments, use PiggyVest’s revamped platform to schedule recurring buys into commercial papers or other instruments. This removes emotion and builds discipline.

Common Mistakes to Avoid

– Saving without investing. Inflation will eat your savings. You need returns above 15.91% to break even. Most savings accounts pay 4-6%.

– **Chasing high returns without understanding risk.** Commercial papers and debt notes are not risk-free. Read the fine print.

– Ignoring small amounts. Eweniyi said to save consistently, regardless of amount. N1,000 weekly is better than nothing.

– Not tracking progress. Review your net worth quarterly. Adjust as needed.

The Result: A Clearer Path to Wealth

When you follow these steps, you stop being a passive saver and become an active wealth builder. PiggyVest shifts focus to income growth because it knows savings alone can’t outpace inflation. You should do the same.

Start by tracking your expenses this week. Then open a PiggyVest account if you don’t have one, and explore the investment options. Set a goal: increase your income by 20% in six months. It’s possible.

Inflation will not wait. Your naira loses value every day. But with the right actions, you can protect it and grow it. PiggyVest shifts focus to income growth as inflation hits savings. Now it’s your turn.

Your first step today: write down one way you can earn an extra N20,000 this month. Then take action.

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