Inflation

By Sabiu Abdullahi

The federal government of Nigeria has called on retailers to reduce food prices, adding that failing to reflect the recent price drop is unfair to consumers.

The Minister of Agriculture and Natural Resources, Abubakar Kyari, made this appeal on Tuesday during the 2025 Wheat Farmers Green Field Day at Dabi village in Jigawa State’s Ringim Local Government Area.

Kyari criticized retailers for not adjusting their prices despite the decline in costs, labeling their actions as unpatriotic.

“The federal government is aware of the significant drop in the prices of food items across major markets, particularly for essential commodities such as flour, sugar, rice, and pasta.

“However, it is deeply concerning that many retailers, bakers, and shop owners have refused to reflect this reduction in their selling prices, thereby denying Nigerians the relief they deserve.

“In previous months, stakeholders in the retail value chain raised concerns about the rising cost of food items. Now that the prices have dropped, such as flour, which fell from N81,000 per bag to below N60,000, and spaghetti, which has fallen from N20,000 to N15,000.

“It is only fair and just to let consumers benefit from food price reduction,” Kyari said.

Recent data from the National Bureau of Statistics (NBS) indicates that Nigeria’s headline inflation rate fell to 24.48% in January 2025, with food inflation declining to 26.08%, down from 34.8% and 39.84% in the previous month.

The decline is attributed to a rebasing of the country’s consumer price index.

However, the Centre for the Promotion of Private Enterprise clarified that the lower inflation rate does not necessarily mean a reduction in the overall prices of goods and services.

By Uzair Adam 

President Bola Ahmed Tinubu expressed optimism about brighter prospects for Nigerians in 2025 in his New Year message. 

He highlighted economic improvements, such as reduced fuel prices, strengthened foreign reserves, and increased foreign investments, and attributed them to his administration’s efforts.  

Tinubu acknowledged challenges like high food and drug costs and pledged to tackle inflation, aiming to lower it from 34.6% to 15%. 

He announced plans to expand credit access by establishing a National Credit Guarantee Company to begin operations by mid-2025 to boost economic growth and support underserved groups.  

The president called for unity, urging Nigerians to avoid divisive tendencies and remain focused on building a prosperous nation. 

He reaffirmed his commitment to reforms, emphasising his goal of achieving a one trillion-dollar economy.

By Idris Mustapha

 The National Bureau of Statistics (NBS) revealed in a heart-wrenching report that Nigeria’s inflation rate climbed to an excruciating 33.88% in October 2024. The pain and suffering reflected in these official figures tell a story far more profound than mere economic indicators—they represent countless nights of parents going to bed hungry, having sacrificed their meals to feed their children.

The NBS’s latest report paints a devastating picture, showing a relentless climb from September’s already unbearable rate of 32.70%. “Looking at the movement,” the Bureau notes with clinical precision that contrasts sharply with the human suffering it represents, “the September 2024 headline inflation rate showed an increase of 0.55% compared to the August 2024 headline inflation rate.” Behind these sterile statistics lie the anguished faces of market women watching their businesses crumble.

The Bureau’s year-on-year analysis reveals an even more distressing reality, with October’s rate standing 6.55 percentage points higher than the 27.33% recorded in October 2023. The NBS report states, “This shows that the headline inflation rate (year-on-year basis) increased in September 2024 when compared to the same month in the preceding year.” Each percentage point represents another burden on the shoulders of ordinary Nigerians, many of whom are already stretched to their breaking point.

The official data traces a cruel journey through 2024, from January’s troubling 29.90% to the current devastating peak. The NBS’s monthly tracking shows how “the rate of increase in the average price level is more than the rate of increase in the average price level” each month. Behind these technical terms lies the reality of young graduates seeing their dreams fade and elderly citizens finding their pensions increasingly worthless.

Perhaps most heartbreaking is the Bureau’s documentation of the Premium Motor Spirit (PMS) price surge, which the NBS directly links to the inflation crisis. This price hike, implemented in early September and again in October, has dealt a cruel blow to our society’s most vulnerable members. Families are forced to make impossible choices: buying food or medicine, paying school fees, or keeping their small businesses alive.

The statistical evidence presented by the NBS serves as an official testament to the widespread suffering. Markets that once bustled with life now echo the whispered concerns of traders and customers alike, haggling not for profit but for survival. The weight of this economic burden is visible in the tired eyes of parents who must explain to their children why they can no longer afford their favorite meals or school supplies.

As we look to the future, the NBS’s continuous monitoring of this crisis is a stark reminder of the urgent need for intervention. While the Bureau diligently records these devastating figures, real families make painful sacrifices to survive another day. The official data serves as a clarion call for immediate action, as each statistical update pushes more Nigerians below the poverty line, leaving deep scars that may take generations to heal.

The National Bureau of Statistics meticulously documents this crisis, which demands policy changes and a fundamental recognition of the human suffering it represents. Behind every percentage point increase lies a story of resilience: families supporting each other through unimaginable hardship, communities coming together to share what little they have. Yet, without significant intervention, these stories of resilience documented in the national statistics may soon turn into tales of despair as more Nigerians find themselves unable to cope with the relentless rise in the prices of basic necessities.

Idris Mustapha wrote via idrismustapha25@gmail.com.

By Muhammad Danjuma Abubakar

In a democracy, citizens’ expression of choice for candidates is guided by factors such as hopes for peace, security, and welfare; better economic opportunities; effective and efficient management of resources; diversity and inclusion; practical respect for civil liberty and freedom; and regards for the constitution and constitutionalism, among others. This democratic choice is reflective of their collective aspirations for better well-being. 

From this expression of choice comes citizens justified high expectations from those they give mandates; this is why it is an indictment on the collective conscience of those elected to call for patience, prayers, and understanding from those who entrust them, as it undermines the initial trust and confidence placed on the elected by the electorates. 

Prayers, patience, and understanding are not required to run for office in Nigeria. Therefore, it is unreasonable for elected officials to demand these from the public to justify their failures.

Voters assess candidates based on their competence, experience, and fairness. Even during elections, voters are often impatient and look for leaders who will perform extraordinary feats and effectively meet their needs.

In this context, the expectations of Nigerians from President Tinubu, like those of Buhari, were high, spurred by his campaign promises and the political image and antecedents he portrayed to Nigerians.

This said, without fear of contradiction, President Tinubu was presented to innocent Nigerians with amplified messages like he is an architect of economic transformation, a builder of modern Lagos, a mentor of human resources, a top recruiter of quality talent, a bridge builder, a Nigerian with a broad national stature, and a kingmaker with little desire for power. Even the aftermath of his elections has shown a different picture. 

Even in the run-up to the election period, Tinubu stumbled and fumbled many times in words and deeds, either knowingly or unknowingly. 

First, he awed Nigerians by asserting that it was his turn to rule the country (Emi lokan) as if the elective office was an arranged turn-by-turn affair. Such a public statement, which appears to subordinate citizens’ interests, could be intolerable in more exposed democratic climes.

In addition to that controversy, he also went to the extreme by emotionally blackmailing his predecessor, Buhari, claiming he single-handedly made him president, as though he only constituted millions of voters.

As a politician, Tinubu’s political gamesmanship is second to none. This is why, knowing that large chunks of votes would come from the North, a Muslim-dominated region of the country, he decided to choose Shettima—a northern Muslim—as his running mate, despite criticisms from adherents of other faiths.

This move proved successful, as he was declared duly elected by the nation’s electoral umpire, INEC. But it is frustrating and worrisome that we are not better off as citizens and as a nation.

For the records, this is not suggesting that Tinubu’s predecessor left the power better than he met it, considering many shortcomings of his administration, including alleged high-scale corruption under his ‘nose’. Yet, the severity of this administration’s hardships and bad economic conditions surpasses’ Buhari’s.

Under Tinubu’s administration, life for the average Nigerian has taken a drastic turn. Poverty has deepened, and insecurity in the North has deteriorated much faster and worse than during Buhari’s tenure.

 This worsening condition is reflected in various negative indicators, including the soaring inflation rates in basic life necessities, such as food. 

An average Nigerian has not forgotten, not even at all, that during Buhari’s presidency, four good slices of meat were sold at N300 in the North. And a mudu of garri (cassava flour) was being sold for the same N300. The price of a mudu is now the price of a cup. 

Our situation today is akin to what a Nigerian street man would say: ‘Water don pass garri,’ which translates to ‘water has surpassed soaked cassava flour.’ This invariably means a terrible situation that has gone out of control, just as it appears to have gone out of the control of Tinubu’s presidency. 

The only way left for the suffering masses to voice their pains to a government that chooses to be tight-lipped is through peaceful protests legitimized under our constitution, which Tinubu himself led several times but is now not comfortable with and so perceived to be ruthlessly suppressing with state forces, harassments and intimidating the starving angry poor.

The DSS and police, expected to uphold professionalism, etiquette, justice, and respect for the rule of law, are focused on arresting and intimidating perceived ‘persons of interest.’ How on earth do the masses deserve such cruelty? The masses with whom lie the true powers in a democracy! 

As a matter of fact, why shouldn’t the common masses be outraged? Insecurity is at its worst. Inflation has soared to an unprecedented 33%. Amid pervasive hunger and widespread poverty, the government splurges on private jets and extravagant renovations for the VP’s residence. 

Meanwhile, educational institutions’ workers, including the NLC, are often treated dismissively, with no government-backed economic opportunities for the poor, the vulnerable, and even the educated youths. 

Having achieved his long-time ambition of becoming President, Tinubu only seems preoccupied with the temporary power of his office. His long arms of presidential powers reinforce the perception of vindictiveness against those perceived as either not in his good books or his predecessor’s appointees. 

Through the excesses of federal powers, it suffices to believe that federal powers subtly dabbled in issues outside its mandate, including the Kano Emirate saga, the Fubara vs. Wike conflict, and Ndume’s removal as Senate Chief Whip.

As for Sen. Ndume, are we to link his current travails to his choice in the run-up to the APC 2023 Presidential primaries?

 In the build-up to the APC Presidential primaries, Senator Ndume didn’t hide his mobilization and support for Tinubu’s co-contestant, Rotimi Amaechi. 

Talking about appointments, the current administration has also been accused of stripping northerners of their key positions and replacing them with Lagos men who had failed to deliver the same Lagos, which he was credited with its heights and development. 

One may rightly argue that the Buhari presidency, in a similar fashion, rewarded the region that gave him the highest votes through appointive positions. But it is worthy of note that Tinubu’s highest election votes also came from the northern region.

 Yet, this predominantly Muslim-dominated region is neglected. For instance, the Baro Port in Niger State, a significant project for the benefit of the entire North, is yet to receive any sincere attention, even with over 30 trillion Naira budget now in effect.

 For Tinubu’s presidency, water don pass garri since this is not what Nigerians voted for and hoped for. The administration is out of touch with people’s needs, and its actions are in sharp contrast with expectations.

Muhammad Danjuma Abubakar is a public affairs commentator and lives in Minna, Niger State. He wrote via muhammadcares4u@gmail.com.

 By Sabiu Abdullahi

A recent report by the Central Bank of Nigeria (CBN) has revealed that Nigerians are increasingly relying on loans to survive the harsh economic conditions, with consumer credit jumping by 12% to approximately ₦3.9 billion in January 2024. 

According to the CBN’s monthly economic report, the total consumer credit outstanding increased to ₦3,823 billion in January 2024, with personal loans accounting for 79% of consumer credit and retail loans accounting for 21%. 

The report noted that personal loans increased by 14.3% to ₦3,028 billion, while retail loans rose by 4% to ₦795 billion. However, consumer credit as a share of total credit from Online Data Capture Systems (ODCs) declined to 7% from 8% in the preceding month. 

The surge in demand for loans comes as the headline inflation rate hit 33.95% in May, forcing the CBN to hike the interest rate consecutively to 26.25%. 

A study by SBM Intelligence found that 27% of Nigerians across different income categories now resort to loan apps to keep up with their living expenses in the wake of record inflation. 

“The severe impact of the unyielding inflationary pressures on the daily lives of Nigerians, especially those already grappling with limited financial resources, is evident in the surge in demand for loan apps,” the report noted. 

As the cost of living continues to escalate, Nigerians are finding it increasingly difficult to make ends meet, with many resorting to loans as a survival strategy.

By Prof. Abdelghaffar Amoka

In 2011, the exchange rate was 1 USD to 155 naira, and in 2024, it is about 1 USD to 1,550 naira. That is a ratio of 1: 10 for 2011 and 2024.

In 2011, a loaf of bread cost 150 naira, and in 2024, it is about 1,500 naira. That is a ratio of 1: 10 for 2011 and 2024.

In 2011, a bag of maize cost about 5,000 naira. In 2024, it is about 55,000 naira. That is a ratio of 1: 10 for 2011 and 2024.

The price of most basic needs has increased ten times between 2011 and now. That is still a ratio of about 1: 10 for 2011 and 2024.

Then, the price of fuel in 2011 was 65 naira per litre, and the current price in 2024 is about 690 naira. That is still a ratio of about 1: 10 for 2011 and 2024.

If the exchange rate and fuel price remain the same, if the minimum wage was 18,000 naira in 2011, it should be 180,000 naira in 2024.

Abdelghaffar Amoka Abdelmalik, PhD, wrote from Ahmadu Bello University, Zaria. He can be reached via aaabdelmalik@gmail.com.

By Abdullahi Adamu

Addressing the issue of food inflation and its impact on Nigerian students requires comprehensive and multi-faceted solutions.

The government, educational institutions, and non-profit organisations must work together to implement measures that alleviate the burden on students and promote their well-being.

Firstly, the government should prioritise policies that curb food inflation, including strategies to reduce transportation costs, enhance local agricultural production, and strengthen supply chain management. Such measures can help stabilise food prices and make essential items more affordable for students.

The detrimental impact of food inflation on Nigerian students extends beyond financial constraints and compromised nutrition. The inability to access adequate and nutritious meals takes a toll on students’ mental and physical well-being, affecting their academic performance. 

Dr Fatima Adeyemi, a nutrition expert, says the consequences: “Poor nutrition affects cognitive function, memory, and concentration. Students who do not receive sufficient nutrients are at a higher risk of experiencing fatigue, reduced productivity, and even mental health issues such as depression and anxiety.”

The situation has made many Nigerians poorer than they were in 2023, with 63 per cent of the population (133 million) said to be suffering from multidimensional poverty last year.

“I can’t even afford to eat properly again as food prices continue to surge. Once I can feed my children twice daily, I am satisfied,” said Hajiya Maryamu, a stylist at Kuje Modern Market. “People are trying to reduce costs to survive the difficult moment. As part of the cost measures, ladies now wear wigs instead of making their hair. This is taking jobs away from us. So, how can I afford a balanced diet for my children or myself?

Increases in prices of oil and fat, bread and cereals, fish, potatoes, yam and other tubers, fruits, meat, vegetables, milk, cheese and eggs caused the rise in food inflation year-on-year.

Abdullahi Adamu wrote via nasabooyoyo@gmail.com.

By Ibrahiym A. El-Caleel

Muhammad Mansur Ibrahim Sokoto mni, a professor at Usmanu Danfodiyo University Sokoto (UDUS) and the Chief Imam of Abu Hurairah Mosque, has commented on recent initiatives by the Kano State Public Complaints and Anti-Corruption Commission (PCACC) and the Federal Competition & Consumer Protection Commission (FCCPC) aimed at addressing the escalating inflation nationwide. His remarks follow President Bola Tinubu’s commendation of PCACC’s efforts in scrutinizing the alleged hoarding of goods by businesspeople.

The President, who spoke through his Special Adviser on Information & Strategy, Bayo Onanuga, lauded the Kano government and urged other state governors to follow suit. Earlier on Friday, FCCPC also reportedly sealed Sahad Stores, a popular Abuja shopping mall, over “misleading pricing practices and lack of transparency”, later reopening it after reaching a mutual understanding with the store.

The actions of PCACC and FCCPC have triggered discussions on social media as Nigerians grapple with rising commodity prices. Under Barrister Muhuyi Magaji Rimingado’s leadership, Kano State PCACC has reportedly sealed over a dozen warehouses, accusing businessmen of hoarding grains and essential commodities.

A widely circulated video showed a warehouse owner explaining that the stored grains were intended for supply to NGOs like the United Nations and ECOWAS, engaged in aiding internally displaced persons (IDPs) in North-Eastern states.

Professor Mansur Sokoto mni weighed into the conversation in two separate posts on his Facebook profile, initially posing five critical questions:

1. “Is the ongoing food inflation solely attributable to businessmen storing grains in warehouses?
2. Without warehouses for grains, where will imported commodities be stored before distribution for purchase?
3. Does the surge in prices affect only food, or are other commodities like steel, wood, gold, petrol, and clothing also impacted?
4. Have commodity prices simply risen, or is the devaluation of the Naira a contributing factor? If Naira devaluation is the cause, who is responsible?
5. Are the commodities stored in these warehouses completely unavailable in the market, indicating hoarding?

The Islamic scholar emphasized that leaders should be aware of the actual sources of the prevailing hardship and avoid actions that exacerbate challenges. Responding to a commenter’s question on Islam’s stance on hoarding, Professor Sokoto clarified the following six points on what is permissible (halal) and forbidden (haram):

1. It is permissible for an individual to cultivate food crops in any quantity, whether for personal consumption or for storage, with the intention of selling at a later time, provided that he/she has fulfilled the obligatory almsgiving, known as “Zakah”.

2. It is permissible for an individual in need of food to purchase, consume, and store it to prevent potential future cost increases.

3. It is permissible for a businessman to store food crops that he has ordered, intending to sell them later, periodically, according to market demand.

4. It is permissible for a businessman to purchase a food crop during its season, anticipating future value increases, with the intention of selling it for profit. This is permissible according to a valid opinion.

5. It is both permissible and even encouraged for financially capable individuals to buy what they and their families will consume- including items they will give as charity- for a long time, especially when food prices are rising without clear signs of decline. This perspective aligns with the viewpoint of Shaikh Ibn Uthaimeen.

6. What is NOT permissible is for businessmen to acquire food during periods of high prices and hoard it with the intention of causing hardship to the public. Similarly, it is forbidden for businessmen to accumulate and store food during scarcity periods, withholding it from the market until demand peaks. At this point, they sell it at exorbitant prices. In such instances, government authorities are authorized to compel the businessman to sell the stored food at the standard market price without imposing a loss on the sale.

Having outlined these positions, Professor Sokoto critiqued the recent actions of breaking into warehouses, deeming them inappropriate. He questioned whether the businessmen violated Nigerian laws, emphasizing that their practice is not against Islamic injunctions as they maintain inventory for trade and strategic partnerships.

He implored the government to investigate the actual causes of hardships, citing fuel subsidy removal, Naira floating, border closure, and taxation as contributors. Professor Sokoto cautioned against temporary solutions, advocating for sustainable measures and discouraging the use of the National Strategic Grain Reserve to artificially lower food prices. He drew lessons from past strategies and urged the government to avoid short-term approaches.

By Ibrahim El-mu’azzam

It’s a very hard moment for Nigeria. It’s really unbelievable and unbearable to the extent that many Nigerians have forgotten the sweetness of life. Everything is turning from liquid to concrete. We are even getting used to it, only that we are poor in strength to withstand it.

Today, a Nigerian has taken the insecurity problem, with all its significance less valuable. The government has completely abandoned many people to their fate. It isn’t that we have removed the “in” from the “insecurity” but we are more focused on the gunmen and kidnappers that have all of us; hunger and poverty.

Everything is tough! Citizens are losing hope. To some, it’s lost already. Many prefer death than this tense navigation, in a country that we all know and believe to have excess and abundance of what is needed in terms of wealth and resources. We are very far from thinking of saving, everyone is after what he can get not even today but now.

Inflation has blocked the passage of oxygen to the lungs of Nigerians, removed food from their throats and chased away any positive thoughts from their mind. It’s onto the eyes and ears that people are seeing nothing but what suits and relieves them. The translation of this is that unlawful will be lawful, the strong will rule and the society will turn to a jungle.

Everything is drastically increasing price, and there is no control. You can buy a commodity for ₦10 and in an hour or less, it will be ₦20. Both the parties in the markets aren’t smiling, the transaction is dark as it’s done without pleasure.

Maize, rice, beans, millet, corn and even cassava are above the purchase of a common man, not to talk of meat, fish, milk or sugar. “Balance diet” has since been replaced with “living diet” in Nigeria. People today eat not to be satisfied but to retain their consciousness.

Where on earth can a Nigerian put his humble self?

Everywhere, everybody, this is the discussion, especially family men. These are usually family men with something, no matter how little, doing, what is your thought on those who will wake up in the morning without a single direction to follow?

Begging is now very normal and common, and no one questions. You will hear a person swearing that he and his family haven’t eaten for so long. Food, to pass through the throat and relieve hunger is now the problem of a Nigerian, in fact, a Northerner for that matter.

You will visit a house and come out no one will say “Please eat this”. Wives and children are no longer selecting food. It has reached to the extent that some humans are now eating the foods of animals.

I had to stop and rehear a statement yesterday when I heard someone begging people in a mosque to PLEASE BUY WHAT HE IS SELLING. He sells Qur’an and some other small Islamic books; Ƙawa’idi, Akhdari…, and similar stuff. He stood after Magrib prayer begging; “Don Allah a zo a yi min ciniki, don girman Allah”. For the first time in my life, I come across such type of begging.

I continue to ask myself, please where is the sympathy of our leaders? Where is the empathy of our producers and marketers? Where are the price-controlling institutions? Where are the leaders and where is the government as a whole? Please why are we going through this much? Who have we offended and what has been our offence? Please, are Nigerians entitled to suffering and discomfort? Where are we heading to?

It’snt long that we voted with the hope that things would be softened, pains would be relieved, and tears would be wiped, but the absolute reverse is the case. More and more terrific we are getting every day.

The government is careless. The budget has no direct aiding attention to the common Nigerians. Billions are spent on useless renovations, change of vehicles and leisure trips, but not a single unit directly for the common man of the nation.

And upon all these, one beautiful thing is that no one protested, broke any law, or did something illegal, yet. A Nigerian, as strong as he is isn’t so much complaining of the commodity prices, but the money to buy them. You will always hear; “Allah Ya ba mu abin saya”. See this extreme humbleness, humility and positivity.

To be honest, every Nigerian deserves an award of commendation. We have been navigating through a tough situation with increasing anger and frustration, yet quiet, peaceful, and even managing a fake smile. Weldone fellow countrymen, it’s getting over, it’s getting better, soon by the grace of God.

We urge, with a very loud voice, every Nigerian leader, scholar, producer, marketer, and every other stakeholder to remember that he or she will be accountable for this before God. He or she shall be fully responsible for the dying Nigerians, especially those who have what to do but chose not to do it.

Every stakeholder, from community leaders, councilors, religious figures, schoolers, elders, marketers, and others at the community level, moving to the local, state, to national level, this is the task now! People, move to them. Disturb them until we get their attention.

The government should as fast as possible intervene in these ravaging problems and provide solutions. Aid and humanitarian activities should be given extra priority under trusted custodians. If there is a need, I believe Nigerians will agree to the relocation of any project fund to address this problem. The government should reconsider its decision on the removal of fuel subsidy and all other subsidies it is removing. Nigerians are dying! Focus on Nigerians, focus on their condition, Nigeria will be better. PLEASE ITS URGENT!

Ibrahim El-mu’azzam
elmuazzammail@gmail.com

By Hauwa’u Abubakar

Overtime, Nigerians have experienced hike in basically all goods and services required to live and run their day to day activities. This goes without saying has been aggravated by proclamation of subsidy removal on premium motor spirit (PMS) popularly known as petrol, some three months ago.

It becomes imperative to understand the factors responsible for high cost of living as it leads to higher expenditure for individuals and households. Some of the factors leading to this unwanted development include inflation or an increase in the general level of prices.

Nigeria has experienced persistent inflation over the years, with prices of goods and services continuously rising. This reduces the purchasing power of individuals, making it more challenging to afford basic necessities. Also, depreciation of the country’s currency.

The naira, has faced fluctuations and depreciation in value against major foreign currencies like the US dollar. This has led to higher import costs, making imported goods more expensive for consumer. Furthermore, dependence on imports for various products, including food, fuel, clothings, building materials and other consumer goods, has the tendency to result in higher prices due to transportation cost, tariffs, and exchange rate fluctuations.

Again, infrastructural challenges is another force to reckon with. Inadequate infrastructure, such as power shortages and poor transportation networks can increase the cost of goods and services. Businesses often have to bear the burden of additional expenses since they are not provided by the authority and they eventually pass these expenses to consumers so as to make profit and keep their trade afloat.

Income quality as a factor. Nigeria has a significant income disparity, with a large portion of the population living in what is termed multidimensional poverty due to the disparity. This poverty limits access to basic resources like education, healthcare, and housing, further exacerbating the cost of living for many individuals. Government policies such as removal or reduction of subsidies, can lead to price hikes for essential commodities also.

To address this worrisome situation, it is firstly important for citizens to understand that the high cost of living in Nigeria is a complex issue influenced by various factors such as those aforementioned. Efforts to address this challenge should involve measure to tackle inflation, improve infrastructure, diversifying the economy, and promoting policies that support income equality and affordability for citizens.

Strategies to employ in improving infrastructure are; investing in infrastructural development, such as transportation power, road network, water supply among other can help reduce cost associated with transportation and other expenses passed down to consumers.

Enhancing agricultural productivity. Promoting and supporting the agricultural sector can reduce food prices and enhance food security. Improving farming techniques, access to quality irrigation systems are all strategies through which dependency can be reduced on imported goods.

Encouraging competition could be a tactics. Promoting competition in key sector such as telecommunications, banking, and energy to prevent monopolies and encourage market efficiency can help lower price for consumers.Control of inflation, implementation of effective monetary policies and fiscal measures to control inflation, increased wages and ensuring that wages and salaries keep pace with inflation can help improve people’s purchasing power and reduce the burden of high costs.

Developing effective social welfare programmes can provide a safety net for vulnerable populations, reducing the impact of high cost of living on those with limited financial resources.

In conclusion these are just comprehensive approach that addresses multiple aspect of the economy and society and if adopted by the government and relevant agencies, Nigerians can be saved from the bondage of high cost of living, the time this now!.

Hauwa’u is a 200-Level Student of Ahmadu Bello University, Zaria, Kaduna State and can be reached via: hauwaat@yahoo.com