Nigerians can no longer cope Amidst Cost of living crisis

 

On Sunday, March 10, Grace, a Danfo bus traveler, was spotted consuming moin moin, a popular bean pudding from Nigeria, together with fufu.

Nairametrics asked why the combination was made when they got off because it seems like a strange combo in Nigerian food.


Grace claims that the moin moin is the least expensive type of protein she could afford because she was unable to purchase or prepare soup.

Mama Bayo, a widow mother of four, told Nairametrics that she makes N150,000 a month, and that up until recently, her family had a reasonably balanced diet.

She claims that in order to keep her family healthy during the past six months, she has switched the protein in her family's diet from meat and fish to eggs, cowhide (pomo), and now pulverized crayfish.

On Sunday, March 10, Grace, a Danfo bus traveler, was spotted consuming moin moin, a popular bean pudding from Nigeria, together with fufu.

Nairametrics asked why the combination was made when they got off because it seems like a strange combo in Nigerian food.


Grace claims that the moin moin is the least expensive type of protein she could afford because she was unable to purchase or prepare soup.

Mama Bayo, a widow mother of four, told Nairametrics that she makes N150,000 a month, and that up until recently, her family had a reasonably balanced diet.

She claims that in order to keep her family healthy during the past six months, she has switched the protein in her family's diet from meat and fish to eggs, cowhide (pomo), and now pulverized crayfish.

that because she was unable to pay her rent, she was forced to pack up her belongings and leave her house.

Narratives such as the one above are becoming more commonplace around the nation. Nigerians, who take great satisfaction in being frugal with their resources, seem to be declaring in unanimity that there isn't much to manage. It's true that you have nothing to manage when you have nothing.

Because of this, product prices essentially fluctuate based on individual purchases. In Nigeria, it has become a typical occurrence for consumers to go to the market to buy products, and the dealer will not sell the commodity until he has confirmed the new price. Costs appear to fluctuate on on an hourly basis.

News of a woman who had abandoned her three children at an Enugu police station and killed herself due to difficulty had begun to circulate as of the time this article was written.

It is challenging for people to adapt to their new circumstances in light of the current state of the national economy. Many Nigerians surveyed for this publication voiced skepticism about the short-term sustainability of the existing situation.

Civil servant Phillip Nwabuzor of the Lagos State Government told Nairametrics that while he has managed to survive thus far, he is on the verge of running out of money for needs.

He claimed that up until now, he could provide for his family's necessities, but he now worries that if inflation keeps up, he could not be able to pay his payments. 

does not slow down in the nation.

He continued by expressing uncertainty that prices will ever return to their pre-subsidy levels.

Economist and economic affairs analyst Dr. Nathan Ugbechie claimed that the depreciating value of the naira was the primary cause of the nation's high inflation rate.

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Although the government should not have allowed the local currency to fluctuate against powerful foreign currencies like the dollar and pound, he acknowledged that the elimination of fuel subsidies was unavoidable. He went on to say that we are going to face more serious issues if the government does not reevaluate its naira floating strategy.

"We bring in a a sizable portion of the food consumed in Nigeria. For us, this implies more inflation every time the value of the naira declines. For this reason, before selling any imported goods, traders in Nigerian markets verify the exchange rates for the day. And that occurs almost every hour," he stated.

Development economist Moses Jakpor, for his part, stated that prior to eliminating fuel and currency subsidies, the government has to have established capacity, including the manufacturing, storing, and transportation of agricultural products.

In such circumstances, he contended, the government need to have the humility to acknowledge that there is a food scarcity in the nation and to allow Nigerians to enter the country in search of less expensive food. Keeping borders closed, he continued, had advantages.

only a small portion of Nigerians, yet it makes things difficult for the majority of them.

Regarding the detention of people suspected of smuggling food to nearby nations, Jakpor stated that supply and demand are at work.

He mentioned that trade between Nigeria and its neighbors has been booming for decades. The fact that over 90% of the food consumed in Nigeria originates from Niger may surprise you. We buy from them, and they buy from us. The current situation has existed for many years. Because of insecurity and other logistical issues, we are no longer producing enough, which is why we are only now feeling the pressure," he stated. Agronomist Dr. Gbenga Omotosho made predictions in an interview with Nairametrics.

stated that, in the best-case scenario, the food scarcity might start to improve in six to eight months if the government acts decisively and strategically; if not, Nigerians will have to endure this for a long time. He continued by saying that denying the reality would drive Nigerians into even greater hardship, including starvation.

The sounds of hunger, meantime, are getting louder. Pa Peter Agbaso, an octogenarian, claimed that in his more than 80 years of life, nothing has ever been this difficult.