Piggyvest has revealed that the majority of savings targets created by its users in 2025 were focused on rent, vacations, and starting new businesses.
The insight was shared in the company’s 2025 W.A.E.C. (Wealth Accrued & Expanded Consistently) report, which provides a detailed snapshot of how Nigerians are saving, spending, and planning their financial futures.
According to the report, users’ savings goals increasingly reflect broader lifestyle ambitions—ranging from managing rising living costs to improving work-life balance and pursuing entrepreneurial opportunities.
Rising Cost of Living Shapes Savings Behaviour
The data comes amid a sustained rise in the cost of living across Nigeria, particularly in housing. Recent industry reports indicate that rent prices have surged by 50% to 100% in major urban centres such as Lagos, Abuja, and Port Harcourt since the post-COVID period.
A key takeaway from the W.A.E.C. report showed that users in Lagos, Abuja, and Rivers State overwhelmingly saved for rent using HouseMoney, Piggyvest’s rent-dedicated wallet.
To support goal-based saving, Piggyvest highlighted features such as HouseMoney and Target Savings, which allow users to plan ahead and maintain better control over future expenses.
Women Outperform Men in Financial Performance
Another notable finding from the 2025 report was that more women earned “A1” ratings than men in their personalised financial summaries.
Piggyvest said this reflects stronger financial performance among women on the platform, including higher savings consistency, growth rates, and overall progress toward financial goals.
SafeLock Emerges as Most Used Wallet
The report also revealed that SafeLock was the most actively used savings wallet in 2025.
Users recorded their highest savings activity in January, March, and December, indicating strong saving behaviour around the beginning of the year, mid-year planning, and end-of-year financial preparations.
What the Piggyvest W.A.E.C. Report Offers Users
The Piggyvest W.A.E.C. report is a personalised half-year and annual financial summary delivered directly to users via email.
It provides insights into:
- Savings and investment performance over the past 6 and 12 months
- Spending and saving patterns
- Net financial growth compared to the previous year
- Practical tips for optimising each savings wallet
The report is designed to help users reflect on their financial journey and plan more effectively for the year ahead.
Piggyvest Paid Out ₦1.3 Trillion to Users in 2025
Beyond user insights, Piggyvest recorded a major operational milestone in 2025.
The company disclosed that it paid out ₦1.3 trillion to users during the year, representing a 56% increase from the ₦835 billion paid out in 2024. This growth followed the platform surpassing 6 million registered users since its founding in 2016.
In its first-half 2025 update, Piggyvest said that over ₦2.6 trillion had already been paid back to users, with an average of ₦47,000 saved every second as nearly seven million Nigerians actively used the platform to build financial stability.
Infrastructure Challenges and System Upgrades
During the year, Piggyvest acknowledged challenges including app performance issues and delays in interest payments. The company attributed these issues to ongoing infrastructure upgrades aimed at supporting its rapidly growing user base.
To improve payment processing and withdrawals, Piggyvest secured a direct integration with Nigeria Inter-Bank Settlement System Plc (NIBSS).
Direct Withdrawals Without Third Parties
Through the NIBSS partnership, Piggyvest can now process customer withdrawals without relying on third-party payment processors.
Users are able to withdraw funds directly into their PocketApp and transfer money seamlessly to other financial institutions, improving reliability and speed across the platform.
Outlook
Piggyvest’s 2025 W.A.E.C. report highlights how Nigerians are adapting their financial habits in response to economic pressures—prioritising rent security, personal fulfillment, and entrepreneurship.
With rising payouts, deeper infrastructure integration, and growing user adoption, the fintech continues to position itself as a key player in helping millions of Nigerians plan, save, and achieve long-term financial freedom.
