First, it was the food price hike. Now, there’s an increase in fuel prices. It seems as though Nigeria is holding her people by the neck and choking the life out of tired, frustrated, and hungry souls. While this may be the case, it is still important to bring out our survival skills and maintain a positive spirit, hoping that Nigeria may yet become the home where every Nigerian finds peace, protection, and comfort, rather than dungeons that trap her people in sorrow, hunger, poverty, and unimaginable pain.
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Everyone is aware that the recent hike in fuel prices has thrown many Nigerian workers into a whirlwind of financial strain. As the cost of transportation and living rises, it’s essential to find smart ways to not only survive but thrive despite the challenges. The current Nigerian economic situation requires a serious shift in habits, spending patterns, and mindset. How can we overcome this time? That’s the question lingering among the masses, often without an answer. But when it comes to daily commuting, we can offer ways to beat the hike in fuel prices. Check these out:
1. Share a ride
One of the quickest ways to ease the burden of fuel expenses is to join a carpool or share a ride. Find coworkers or neighbours who commute in the same direction and take turns driving each other to work. Alternatively, this sharing activity can provide a cost-effective solution for your daily commute. With more people splitting the cost of fuel, you’ll find your transportation budget doesn’t stretch too much.
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2. Use buses instead of hiring a ride
Using public transportation like buses, BRT, and even tricycles is an excellent way to cut down on fuel costs. This may seem stressful for those not used to it, but it’s the most cost-effective way now. Also, plan your day early to avoid rush hour and overcrowded buses, and you’ll find the experience to be quite manageable. Hiring Uber, Taxify, Bolt, InDrive, and other transportation services will now eat deeply into your savings and transport budget for the month.
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3. Work from home
If your job allows, negotiate remote workdays with your employer. The fewer days you spend commuting, the less you’ll spend on fuel. Remote work or hybrid models have become more acceptable, and with proper communication, you can convince your employer of the benefits for both parties. Less time in traffic, lower transport costs, and more time for productivity. It also reduces the pressure on the company’s facilities, especially internet usage and fuel or diesel consumption. It’s a win-win situation.
4. Optimise your driving habits
For those who must drive to work, fuel-efficient driving techniques can help stretch your fuel. Avoid sudden acceleration and hard braking, which consume fuel unnecessarily. Stick to moderate speeds and use cruise control on highways where possible. By maintaining your car, keeping tires properly inflated, and reducing excess weight in your vehicle, you can improve fuel efficiency and save money over time.
5. Plan and Prioritise your journeys
As a Nigerian worker, it’s essential to reduce unnecessary driving. Consolidate trips to save both time and fuel. Instead of running multiple errands on different days, plan ahead and complete several tasks in one journey. If you can walk or use a bicycle for short trips, even better! This not only saves fuel but also helps you stay fit.
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6. Use technology to your advantage
Virtual meetings are now the norm, and you can take full advantage of this. Rather than spending fuel attending physical meetings, suggest online alternatives via Zoom, Microsoft Teams, or Google Meet. Many companies are open to virtual interactions to cut down on costs, and this could work in your favour. Plus, it saves you time and eliminates the stress of commuting altogether.
7. Budget for fuel and track expenses
Keep a close eye on your spending. Create a dedicated fuel budget and stick to it. You have to take it very personally during this time. By being intentional about your fuel consumption, you can identify areas where you’re overspending and make necessary adjustments.
8. Reduce generator usage
In Nigeria, we rely heavily on generators due to erratic power supply. However, with the spike in fuel prices, running a generator daily can eat into your finances. To reduce this cost, consider investing in energy-efficient appliances or solar-powered systems for your basic electricity needs. This will drastically reduce the amount of fuel you burn on generators, leaving you with more money to save or invest elsewhere.
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9. Negotiate flexible work hours
Peak traffic periods burn more fuel due to the extended time spent on the road. If possible, negotiate flexible work hours with your employer. Arriving early or leaving after rush hour can save you both time and fuel. Employers are increasingly recognizing the value of flexible schedules as a means of boosting employee productivity, so it’s worth discussing.
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10. Explore other income sources
To truly manage your finances in the face of rising fuel costs, consider looking for multiple income streams. You can explore side hustles, freelance gigs, or even invest in low-capital businesses like e-commerce or digital services. This extra income can cushion the blow of increased fuel prices and help you maintain financial stability.
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