The removal of petrol subsidy, foreign exchange liberalisation, and tax recalibration have all contributed to surging living costs. Inflation, especially food inflation, has pushed basic survival out of reach for many families in Nigeria.
According to the World Bank, the number of poor Nigerians rose from 81 million in 2019 (40% of the population) to 139 million in 2025, representing 61% of the population. By next year, the figure could reach 141 million, with the poverty rate stabilising around 61–62% through 2027.
The hike in the prices of goods and services is becoming worrisome and unbearable for the masses in the country.
A Nigerian on X, @NemeremNjoku noted that the ruling All Progressives Congress (APC) has tricked many citizens into believing that they are responsible for the occasional downward trend in prices.
He said, “The way APC works is that they take something of N300, increase the price to N2,500, then manage to bring it down to N2,400 and tell you that prices are coming down”
For many citizens, the conversation isn’t about percentage points or economic models; it’s about survival.
Until real wages catch up and essentials become affordable again, most Nigerians will hold off celebrating any ‘progress’ in the economy.
Follow Parallel Facts on WhatsApp Channel: https://whatsapp.com/channel/0029VaCQSAoHgZWiDjR3Kn2E
