What can ₦‎77,000 NYSC allowance do amidst soaring inflation?

The Federal Government’s recent approval to increase the monthly allowance for Corps Members from ₦33,000 to ₦‎77,000 has triggered widespread debate, with many Nigerians questioning whether the increment will make a difference, given the current economic realities.

Lawrence King, a social media user, voiced his concerns on X, writing: “Fed govt increases NYSC allawee from ₦‎33,000 to ₦‎77,000 when inflation is so high. Transportation and feeding alone will engulf that money. The strategy should not be an increase in pay, but a decrease in inflation so the money at hand has market value. N77k with no value is nothing.”

@Ezinwa_Maduka said: “What can 42 dollars do for a young NYSC corper in this Tinubu harsh economy? “Dey play, na hypocrisy dey worry some of una.”

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@attah_akor added: “Ngl this NYSC allowee increase just be like when them collect N10 for hand when you dey small come give you two N5.”

Living on N77,000 in 2024

While the increase in the allowance may appear substantial, a closer look at the daily expenses faced by Corps Members reveals the impact of inflation. From transportation to feeding and accommodation, many are saying that the rising cost of living will quickly erode purchasing power of the new allowance.

For instance, with the rising price of petrol, transportation costs have soared, making commuting to their Places of Primary Assignment (PPA) or travelling home during the service year far more expensive than in previous years.

Similarly, the cost of food staples, such as rice, yams, and other basic groceries, has seen a marked increase.

Maximising the N77,000 Allowance

In response to these challenges, many Corps Members are adopting creative strategies to make the most of their allowance. Budgeting tools, shared accommodation, meal prepping, and carpooling are some of the methods being employed to manage costs.

Additionally, some have turned to freelance work or side businesses, such as WhatsApp vendors, graphic design or event planning, to supplement their income during the service year.

Addressing Inflation as a Long-Term Solution

Despite the allowance increase, there is a growing sentiment that tackling inflation might provide a more sustainable solution to the financial challenges faced by Corps Members.

Without addressing the rising cost of goods and services, the N77,000 allowance risks losing its value in real terms, offering little relief in the face of escalating prices.

As the debate continues, many are calling for more measures that go beyond salary increments, urging a focus on stabilising the economy and reducing inflation to improve the overall quality of life for Nigerians, including Corps Members.

“The 77k with the present economy of Nigeria is small,I feel government should do better than that for corpers , that will make most organisations give copers a reputable salary and respect but due to the system of government in Nigeria, we will appreciate the 77k,” said, a young lady who had served as a corp member.

In a country where young people are already hustling to survive, the question remains: will N77,000 be enough to sustain Corps Members, or does more need to be done to ensure the money in their pockets has real value?