Nigerians Struggle with Rising Costs Ahead of Elections

As Nigeria approaches elections in January, the cost of living is significantly impacting citizens, particularly highlighted by the experiences of a health NGO worker earning 135,000 naira ($99) monthly, nearly double the minimum wage. Despite this, she reports that her salary only lasts a week due to soaring prices for essentials.

Under President Bola Tinubu's administration, reforms such as the removal of fuel subsidies, naira devaluation, and cuts to electricity subsidies have led to a dramatic increase in living costs. For instance, the price of jollof rice has more than doubled since Tinubu took office, and petrol prices have surged sixfold.

The World Bank estimates that over half of Nigeria's population was living in poverty last year, up from approximately 42% in 2022. While investors express optimism about Nigeria's economic prospects, citizens like Adama face stark realities, struggling to afford basic necessities and relying on loans to manage expenses.

Tinubu's government argues that these reforms are necessary for long-term economic stability.