Nigerian singer, Oludipe Oluwasanmi David, popularly known as Spyro, has explained why some of his colleagues in the music industry go broke.

The 'Who's Your Guy' hitmaker explained this while addressing fans during a performance at an event over the weekend.

According to him, extravagant spending on parties and women is one of the reasons some entertainers eventually face financial difficulties.

He explained that spending excessively on women and other frivolities amounts to poor financial decisions.

Spyro advised men to enjoy life and support their partners, but cautioned against spending beyond their means.

He urged his fans to focus more on saving and investing for the future.

"If you are here and you are spending money on women, I think you are wasting your time. I am not saying you should not spend on your woman but use your head.

"I know some of my colleagues who went broke because they made their first bag and blew it off on parties and trips to South Africa. But I didn't move that way and that is why I am where I am," he said.

The singer further claimed that after attaining fame and financial success, several Instagram models reached out to him.

However, he said he turned down their advances, including offers to sponsor trips to foreign destinations.

Spyro explained that he chose to concentrate on his music career and investments rather than spend lavishly on social activities.