Lagos Foundation Brings Financial Education to Low-income Workers on May Day

While many parts of Lagos marked International Workers’ Day with labour rallies and political speeches, a quieter but equally important conversation took place inside Circle Mall in Lekki. Families, traders and workers gathered not for shopping or entertainment, but for something rarely offered in such spaces: practical guidance on managing money in an increasingly uncertain economic environment.

The event was organised by Toga Vision Foundation, a non-profit focused on expanding financial literacy among underserved communities. The session was led by the organisation’s founder, Temitayo Ogunlade, alongside programme coordinator Ayodeji Omotola, who supported community outreach and on-site facilitation for the event. Around 30 to 40 residents and workers attended the session, drawn by a simple idea: many of the financial pressures facing low-income Nigerian households stem not only from limited income, but also from limited access to practical financial knowledge.

“Financial stress is often treated as an unavoidable part of life for low-income families,” Ogunlade told attendees. “But in many cases it is also the result of an information gap.

People are working hard, yet they have never been shown how to plan for irregular income, how to build savings gradually, or how to prepare for the future.”

The workshop addressed these gaps directly. Ogunlade guided participants through practical budgeting strategies designed for workers with unpredictable or informal income streams, a common reality in Nigeria’s urban economy. The session also covered savings techniques that do not depend on formal banking access, as well as simple retirement planning concepts for workers without pensions or structured financial safety nets.

Beyond household budgeting, the discussion also introduced participants to the broader economic forces that shape their finances. In straightforward terms, Ogunlade explained how government policy decisions, including interest rate changes, inflation and fiscal policies, ultimately affect the purchasing power and financial security of ordinary citizens.

“Most people experience the effects of economic policy every day without fully understanding why their money buys less or why borrowing becomes more expensive,” he said. “Financial literacy should include not only personal budgeting, but also an understanding of how the wider economy influences personal financial outcomes.”

The decision to hold the programme on Workers’ Day was deliberate. Ogunlade believes conversations about labour and dignity should also include financial capability as an essential part of economic empowerment.

“We talk about wages and workers’ rights on this day, which are important,” he said. “But economic security also depends on what people are able to do with the income they earn.

Without financial literacy, even higher earnings may not translate into long-term stability.”

The choice of venue was also intentional. Instead of hosting events in conference centres or institutional venues, the foundation prefers accessible public spaces where workers and families can participate without the barriers often associated with formal seminars.

Founded by Ogunlade, Toga Vision Foundation focuses on delivering research-informed financial education to communities that are often excluded from professional financial advisory services. Before launching its outreach programmes, the organisation conducted preliminary research into the financial challenges faced by low-income workers in Nigeria, including irregular income patterns, limited savings habits and a widespread lack of retirement planning.

These findings now guide the foundation’s outreach sessions, which aim to translate complex financial concepts into practical strategies that can be applied in everyday life.

“Financial education should not be reserved for those who can afford consultants,” Ogunlade said. “The same quality of financial thinking should be accessible to market traders, artisans and workers who form the backbone of the economy.”

The Workers’ Day session at Circle Mall, forms part of a broader initiative by the foundation to expand community-based financial education across Lagos. Ogunlade said additional workshops are planned throughout 2025, with particular focus on neighbourhoods where residents have limited access to structured financial services or formal economic guidance.

He added that the foundation also plans to expand the programme digitally next year by developing financial education materials that will be accessible through the organisation’s website, www.togavision.org allowing people outside Lagos to benefit from the resources.

In a country where financial exclusion continues to affect millions of citizens, initiatives like this aim to address an often overlooked aspect of economic development: equipping individuals with the knowledge needed to manage, preserve and grow the income they earn.

For participants who gathered in Lekki on Thursday morning, the session offered more than theoretical advice. It provided a rare opportunity to ask practical questions about everyday financial decisions and to leave with tools that could help strengthen the financial resilience of their households.

Temitayo Ogunlade is a finance professional and the founder of Toga Vision Foundation, a non-profit organisation dedicated to improving financial literacy and economic awareness among underserved communities