By Ehichoya Omo-Imhanfiabor
Nigerians complain as they face hardship over high cost of living, springing from the perennial increase in prices of goods and services across the country.
The hardship affect their lifestyle and standard of living on daily basis.
Many attribute the increasing prices to the fluctuating exchange rate of the Naira to a dollar in Nigeria, but inflation started galloping after the removal of petrol subsidy by President Bola Tinubu.
The high cost of living is making things more difficult for the citizens, unlike the past years which were goods and services were affordable and accessible to the people.
The cost of living in Nigeria has caused affordable lifestyle for individuals, while the lower class have become more vulnerable.
Inquiries show that prices of food items, house rentals, electricity bills and transportation cost, etc. have become unusually high; pushing up the cost of production for the manufacturers, including the cost of doing business in Nigeria, beside the burden of taxation.
Some residents of Lagos, in an interaction with National Daily Newspaper, expressed their views on how is the cost of living is affecting their lives and the endless inflation.
According to one of the residents, Gift, the cost of living in her area is increasing day after day. “Imagine spending 5000 – 10000 every day just to have healthy mea,” she complained.
The price of food items had not being favorable to them living in the area. She also said that in her area, the landlord had taken part rising high cost, from 20% to 80%, and included it into the price of house, that is the house rent.
Life has not been easy for them, she said; noting that manufacturers and producers have increased the cost of food items and goods to make up additional costs from tax payment and rising dollar exchange rate to naira. It has also affected the electricity bill, which has been increased from 10% to 40% of tariff in Nigeria today. “We are afraid of what the rest of the year holds for us. God will see us through,” Gift said.
Another resident, Imafiadon, was of the view that: “the cost of living is moderate, not high; but somehow is affecting citizens due to bad roads and the increase of transportation fares, which he said made the prices of food items to be high. He noted that the “dollar exchange rate has gone up to the extent that less privileged people are really affected by the increase in prices”
According to him, “The rent of house are going up to the extent we are scared of renting a house for a year. Imagine paying N800,000 to N1 million for just self- contain, in Ayobo local government. This price might be different in the other side of the town. We are scared of looking for houses in Nigeria to avoid the huge amount or price, both in agent agreement, rent, and caution fee and so on.”
Also, Akinyemi Tolulope lamented that “the inflation rate has made price of things so high, making livelihood more expensive as the day goes by. He said that N100 to N150 thousand cannot buy what you usually buy at the time of 2019, noting that the price of rice is going up and down due the inflation and dollar exchange rate in Nigeria.
According to Eddyteddy, “the price of 99% products are either the same or less due to production of new design or improved version of such products. Make Nigerians dey here dey compare China, US and Developed economy to Nigeria. Nigeria inflation is in another level”
Godson expressed: “Our problem is inflation. That’s what government should work on. There should be reduction in price of commodities and increase more production for foreign investors to patronize our currency.”
Don Ben stated: “Please compare and contrast the quality of life with particular reference to poverty, hunger, access to healthcare, cost of living and purchasing power in Nigeria during the era of President Jonathan in 2014 and the present APC government since 2015, and the current administration of President Bola Tinubu.”