This study investigates how loneliness and self-regulation affect social media addiction in young people in developing nations, as well as how this addiction impacts their personal family life and jobs. Purposive and snowball sampling methods were used to gather data from 514 respondents using a structured questionnaire. Structural equation modelling was used to analyze the theories of addiction. The multivariate statistical analysis indicates that social media addiction is positively influenced by loneliness and self-regulation. Moreover, loneliness is a contributing factor to the development of social media addiction, while self-regulation affects personal and family conflicts, as well as academic or professional performance. Additionally, the personal and family conflicts that arise from social media addiction have a significant impact on academic or professional performance. The study has twofold implications. It expands addiction theories by integrating aspects of self-regulation and loneliness, thereby contributing to its theoretical implications. Essentially, the results assist policymakers in formulating plans to reduce social media addiction and harness the potential of young people for the progress of the nation.