The dilapidating influence of conspicuous consumption on the overall well-being of young adults necessitates the study of factors influencing conspicuous consumption, particularly among university students. Using the symbolic self-completion theory, a quantitative analysis involving (N=356, 56.2% female) final year private university students was conducted. This, however, is an exploration of issues relating to social media use, materialistic values, and conspicuous consumption within a broader study. The results indicate that Nigerian university students have a favorable attitude towards conspicuous consumption. Additionally, the predictive effect of social media use and materialistic value orientation on conspicuous consumption was ascertained. Our findings validated the assumptions of the symbolic selfcompletion theory and its applicability in explaining conspicuous consumption among young people. Other implications of the study, recommendations, and directions for future research are discussed.