The rising cost of living in Nigeria has made it increasingly difficult for many Nigerians to afford basic necessities.
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As inflation continues to soar, the prices of essential items have skyrocketed, leaving many families struggling to make ends meet. Certain foods that were once regarded as ‘poor man’s food’ are now the most expensive in the market, while ‘rich man’s food’ has become a no-go area for the average Nigerian.
Here are some of the essential items that Nigerians are finding increasingly difficult to afford:
1. Foodstuff
Rice: A staple in many Nigerian households, the price of rice has seen a significant increase in recent years, especially in 2024. In September, a bag of rice was sold for N80,000 to N90,000; now in October, a bag of rice goes for N100,000 to N120,000. This basic food item in every home is not within the reach any longer for some average Nigerians.
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Eggs: The price of eggs has increased, making them a less affordable option for many. A crate of eggs currently goes for N5,500 in Lagos. Recently, there have been reports that the price of eggs may hit N10,000 before the end of the year.
Beans: Another essential food item, beans, are a popular source of protein but have become more expensive due to rising production costs and general inflation in the country. This is one of the foodstuff widely known as ‘poor man’s food,’ especially when combined with Garri. Now in Lagos, a paint bucket of honey beans goes for N15,000, White beans for N13,000, and Drum beans for N12,500.
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Semo: Semo is a popular Nigerian dish made from cassava flour or durum wheat grains. It has also become more costly than in previous years. A 10 kg bag of Semo in October 2024 goes for N16,500, compared to N13,000 in September 2024. At this rate, it seems this necessary food item might hit N20,000 before the end of the year.
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Garri: This is yet another foodstuff previously regarded as ‘poor man’s food.’ A paint of garri in October 2024 goes for N4,000, specifically in Lagos, compared to N1,200 last year. Its status has significantly changed, making it even more expensive for the average Nigerian.
Canned Fish: A relatively affordable source of protein, such as Sardine and Shawa, has also seen rising prices. Now, a canned fish goes for N1,200 to N1,500, compared to N200 last year.
2. Cooking Oils
The price of vegetable oil has increased significantly, affecting the cost of cooking meals. A 5-litre keg of sealed and refined vegetable oil goes for N12,500, while regular refills are sold for N10,000. Palm oil is equally expensive, with 5 litres selling for N7,000.
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3. Dairy products
When it comes to milk, both fresh and powdered milk have become more expensive, making it difficult for families to include dairy products in their diets. A refilled milk now goes for N7,000. Liquid milk has become a luxury.
4. Other essential items
Toothpaste: Funny as it may sound, some Nigerians are tempted to go back to the chewing stick era. The skyrocketing prices of toothpaste in recent months are alarming. A pack of toothpaste ranges from N5,000 to N8,000.
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Sugar: The price of sugar has risen, affecting the cost of sweetening beverages and foods. A medium-sized sachet of sugar is sold for N600, compared to N200 last year.
Seasoning: The cost of seasoning has also increased, adding to the overall cost of preparing meals.
The rising cost of living in Nigeria has had a significant impact on the lives of many Nigerians. As the prices of essential items continue to rise, it is becoming increasingly difficult for families to make ends meet.
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