Tag: High cost of living

Escalating cost of foodstuff: ​”​We only eat to survive, not satisfactorily” – Nigerians lament

Aminu Imam
Foodstuff prices

Some Nigerian residents in the Federal Capital Territory, (FCT), have expressed worry over the continuous increase in the prices of foodstuffs and other commodities this Eid-el-Kabir festive season. A visit to some markets in Abuja and its environs showed that the prices of goods have continued to rise. Some respondents told newsmen at Dutse Market, in Bwari Area Council, that meeting their family needs was becoming increasingly difficult due to lean resources. According to a buyer, Mohammed Rabiu, it was unfortunate that he could not afford the feeding needs of…

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Cost of Living: Garri now 72k per bag in Plateau

Aminu Imam
Garri

Garri, a staple food widely consumed in Nigeria, has reached an unprecedented price peak in Jos, the Plateau State capital. Once considered one of the most affordable food items for Nigerian households, garri is now being sold at a staggering rate of N1,100 per measure and N72,000 per 100kg bag, according to reports gathered during a visit to markets. Market respondents, who spoke to newsmen, expressed dismay at the sharp increase in the price of garri, noting that it has reached its highest level in decades. Sellers at the Katako…

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Rising cost of living pushes Nigerians to borrow N767bn from banks in 9 months – Report

Aminu Imam

A  report  by SBM Intelligence found that 27% of Nigerians across different income categories resort to loan apps to sustain their living expenses amid rising inflation. According to the CBN’s Q-3 2023 Quarterly Economic Report, personal loans made up 74.8% of consumer credit while retail loans made up 25.2%. It further said, “Consumer credit outstanding increased, attributable to the need to cope with a relative increase in the cost of living. Thus, consumer credit grew by 15.5% to N3.05 trillion, compared with the N2.64 trillion at the end of the…

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Nigerians lament, as Tinubu signs controversial Yacht, SUVs Bills

Aminu Imam

Amid the growing economic disparity, Nigerians have continued to struggle for survival, as President Bola Ahmed Tinubu approved a supplementary budget earmarking millions of dollars for a presidential yacht and Sport Utility Vehicles (SUVs) for his wife and top government officials. It had earlier been reported that President Tinubu on Wednesday signed into law the budget that allocates $38 million for the presidential air fleet and other renovations. The $6.1 million that had been allocated for the boat earlier was redirected by lawmakers to “student loans” a move that was approved…

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High Cost of Living: Mr. La laments plight of the poor as a result of lack of fuel, gas, security and electricity

Aminu Imam

Falal Ango A chieftain of the Peoples Democratic Party, (PDP), in Kaduna, Hon’ble Lawal Adamu Usman, popularly known as Mr. LA, has lamented the plight of the country’s poor as a result of lack of fuel, gas, security and electricity. Speaking to newsmen during a press conference yesterday, the prominent political chieftain said, “There is no other country in the world that does not know how much oil it can extract except Nigeria under the leadership of President Muhammadu Buhari”, adding that it is also only in this country that…

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