Anietie Udobit, Abuja
Fresh economic data has intensified concerns over Nigeria’s cost-of-living crisis, with the National Bureau of Statistics (NBS) reporting significant increases in food prices and cooking gas costs across the country.
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The latest figures indicate that households are spending substantially more on staple foods, livestock products, transportation, and domestic energy, placing additional pressure on already strained family budgets.
Across major markets, traders report that prices of rice, beans, garri, yam, tomatoes, pepper, and protein products have continued to rise. Cooking gas, a key household necessity, has reached levels many consumers describe as unsustainable.
For millions of Nigerians, the combined effect of inflation, transportation costs, exchange-rate pressures, and supply chain disruptions is becoming increasingly difficult to manage.
Market associations warn that declining purchasing power is affecting both consumers and businesses. Many traders report slower sales as households cut spending and prioritize only essential purchases.
Economic experts attribute the price increases to multiple factors, including high logistics costs, insecurity in agricultural regions, currency volatility, and broader global economic uncertainties.
Consumer advocacy groups are calling for targeted interventions, including support for local food production, transportation reforms, and measures aimed at stabilizing domestic energy markets.
The latest NBS figures underscore a central challenge facing policymakers: how to sustain economic reforms while easing the burden on ordinary citizens struggling with rising living costs.
As inflation continues to shape public discourse, economic management is expected to remain one of the defining political issues heading into the 2027 electoral cycle.