Nigeria Faces Rising Cost of Living Amid Inflation Surge

The cost of living in Nigeria is escalating, with the National Bureau of Statistics reporting an inflation rate of 15.38% in March 2026, up from 15.06% in February 2026. This represents a month-on-month increase of 0.32%.

The relentless rise in prices has made basic necessities like bread and milk unaffordable for many, with three meals a day becoming a rarity. The situation is particularly dire for low-income earners and the unemployed, who struggle to meet basic survival costs.

Contributing factors to this inflation include the removal of fuel subsidies, the devaluation of the naira, and increased public spending. The economic policies have led to higher taxes and rising unemployment, exacerbating the challenges faced by the population.

Many individuals are forced to work longer hours or search for additional employment, often without success, to cope with these rising costs. Urgent measures are needed to alleviate the burden on Nigerians, particularly those on fixed incomes.