Music executive Don Jazzy has raised concerns over the financial instability faced by many young Nigerians, blaming it largely on poor spending decisions.
In a recent video, the founder of Mavin Records noted that despite earning substantial income, many young people quickly go broke because they prioritise luxury and non-essential purchases over investments that yield long-term benefits.
He emphasised that financial discipline and informed decision-making are crucial for sustaining wealth. According to him, while he has the means to indulge in expensive assets such as luxury cars or even a private jet, he deliberately channels his resources into more meaningful commitments, including family responsibilities and strategic investments.
Don Jazzy also highlighted the importance of self-investment, urging young people to acquire valuable skills that can generate income. He cited his ongoing study of forex trading as an example of building knowledge for financial growth.
He maintained that investing in assets and personal development offers far greater long-term rewards than spending on items that do not generate returns.
According to him, many young earners fall into financial hardship because they focus on “irrelevant things” rather than prioritising investments and value-driven spending.