The inflation rate18.17% in March 2021 according to the Consumer Price Index report released by the National Bureau of Statistics (NBS). The past couple of months have seen an uneven increase in the cost of things, and this has among other things, eroded the purchasing power of the average Nigerian. We spoke to five Nigerians about how they’re currently navigating this, and this is what they said.
Nwakaego, 35
Last year, I had a budget for alcohol and juice and bought them in bulk. During the lockdown, I reduced my spending on drinks because there were no visitors. But I increased my feeding budget. Things have slowly gotten worse between 2020 and now. I went from having goat meat, catfish pepper soup and Nkwobi in my freezer to having none of them. I went from buying a few bottles of wine to one bottle of wine. Now, I can either buy juice or malt drinks, not both as I used to.
I love food a lot, and I鈥檓 pissed that all of this is affecting my feeding. For example, a lap of goat has gone up from 鈧1500 to 鈧3000. I can’t afford to buy the quantity I used to buy in 2020, and I cut the meat into smaller pieces. The lady I outsource some of my cooking has noticed this and teases me about it all the time.
Also, I used to budget 鈧10k for groceries every month, but I spent 鈧25k this month and I鈥檓 not sure what I bought is going to last me through the month. Don鈥檛 even get me started on toiletries — my budget was 鈧10k. Now, it鈥檚 about 鈧20k. I can鈥檛 braid my hair for 鈧4k anymore, I need about 鈧7k to do it now.
And oh, I used to do something for myself on my birthdays. In 2019, I gifted myself 鈧240k. In 2020, it was 鈧15k and a mirror. I don鈥檛 think I can manage to gift myself anything this year.
I was also big on holidays. Before 2020, I could conveniently afford a trip to Cape Verde. Everything was less than 鈧500k at the time. I didn鈥檛 go last year because of the pandemic. Now, I can鈥檛 afford to go even if I wanted to. The same trip now costs about 鈧1.1m. It鈥檚 exhausting thinking about it.
Iyanu, 26
These days, I give everything that costs money a lot of thought, and I try to figure out if I really need them. This is a departure from my spending habits last year. Things I used to buy at rather insignificant prices now drains my pocket.
I鈥檓 making less and spending a lot more even though I鈥檝e stopped doing a lot of things I used to do. Last year, I could go to the bar with my friends and foot the bill. I don鈥檛 do that anymore and have even stopped hanging out with people. Also, I only eat out when I need to and cook the rest of my meals at home. However, that鈥檚 also more expensive than ever. Think about it, 鈧300 was enough to cook a pot of spaghetti and sardine about two years ago. In 2021, 鈧300 is only enough to buy one of the two. Now, everyone is like 鈥淒o I really need to eat sardine?鈥
Zainab, 19
The inflation has affected all my vices. Alcohol is a shitton more expensive now, so alcoholism in the mud. Luckily, the price of loud hasn鈥檛 increased. However, I have crazy , and the price of snacks have gone up. My favourite cookies used to cost 鈧850, but now it鈥檚 鈧1100. Maryland cookie now sells for almost 500, and it still tastes like shit.
Bread, sardine, and a bottle of Berry Blast was my regular Sunday morning routine, but not anymore. Sardine is now 鈧500. Berry Blast is also 鈧500. I mean, I can鈥檛 say 鈥淟et me use 鈧1k to eat bread and sardine with Berry Blast.鈥
When I think about it, I feel pain and privilege. I know a lot of people have it worse. I live with my family and don鈥檛 have to buy a lot of things myself. It鈥檚 hard to think about the fact that there are people who would probably no longer be able to eat three times a day because of this. I hate it so much, and it makes me sad.
Divine, 32
I鈥檓 an interstate driver, and the cost of maintaining my car has gone up. Recently, I had to fix something in my car and spent about 鈧18k. A few months ago, the same thing would have cost me just 鈧10k. I used to buy a keg of engine oil for 鈧5,500, but it鈥檚 now 鈧7500.
It鈥檚 especially painful because I鈥檓 making less money. Although I spend a lot more in ensuring that my car is fit for the road, the fares are still the same. I’ve had to adjust my budget and cut down on my spending on all fronts. Yet I鈥檓 not saving as much as I used to. In the past few months, my savings have dropped from 鈧20k to 鈧8k per week. I know Nigerians are good at adjusting and adapting to new situations 鈥 I鈥檓 doing that too 鈥 but God, It鈥檚 so exhausting.
Seyi, 22
I don鈥檛 think I can get used to the new price of things. There鈥檚 an increase in the price of food items every time I go shopping. And all the time, I鈥檓 screaming 鈥淥 por!鈥 inwardly.
My buying behaviour has definitely changed. For starters, I was big on buying things in bulk but I can鈥檛 afford to do that anymore. I鈥檝e restricted my purchases to what I need and the best I can do now is buy half the quantity of what I used to buy and call it a day.
