How High Cost Of Living Is Affecting Nigerians
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- čas přidán 13. 02. 2024
- Cost of living in Nigeria is spiraling out of control. Prices of food and other consumables have soared more than 100% and have become out of reach for the average Nigerian, resulting in a wave of protests across the country in recent times.
The country’s currency is not left out, the naira has been witnessing a free fall with $1 exchanging for as much as N1,500 worsening the already fragile economy of the country.
Gist Nigeria’s Mercy Frank takes a look at how rising costs are affecting families in five Nigerian states as experts proffer viable solutions.
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This breaks my heart. But we all know that the government is disinterested in the plight of Nigerian citizens.
It truly is disheartening.
I am a Nigerian abroad for a long time now.....and atimes our mind plays tricks on us...telling us to go back to our motherland. But Nigeria is a lost cause....why will somebody want to go back to all this hardship??
Nigerians........ forget real estate and pursue agriculture. Let's all start a mini family agriculture campaign. Everyone Go to your backyard and plant yam , pepper , tomato,okro, ewuro, Edo, poultry . Everyone do backyard farming at least no matter how small ( if you don't have plot of land) . Everyone plant something , grow something, anything . Let's start with that . If 100 million people can do backyard farming at least ( not as a business ,but for consumption and exchange purposes only) this idea will change a lot in the country .
True
I have 9 plots, am already canvassing for people who will plant the entire Acre
Omoh, farming isn't encouraged in Nigeria
As I don't have backyard wetin I go do?
Exactly what I have been saying since 2020, many people said I'm extremist, that I'm going crazy, just because I foresaw what God revealed to me
Tribalism will definitely destroy Nigeria 😢
Will destroy or has destroyed Nigeria? We need to divide and go back to the 3 regions
God bless you that is the problem
Not only in nigeria all over the world prices going up everyday
Really... inflation rate 9f over 20% is everywhere? Are you sure of what you're saying?
Inflation rate over 30% in Nigeria. Nigeria's far worse
Not really, China isn't and most of the west have mild inflation in comparison.
How can the prices of food and other staples come down when farmers cannot even go to farm for fear of being kidnapped or killed due to terrorism and insurgency. The borders are so porous or even non-existent in some parts of the country and so there's free movement of terrorists in and out of Nigeria. And even if some are caught, nothing is done to them and before you know it, the case is swept under the carpet and they are seen walking freely again.
Economically speaking, you don't remove subsidy from fuel and other crude fractions like diesel without preparation to cushion the effect of the resultant shocks on the masses. In a country where prices of things are not regulated but everyone does whatever they deem fit, what do you expect? These middle men may even be working for our politicians just as the roadside forex sellers. It's a shame that a country so blessed without natural disasters like tsunami, volcanic eruptions, hurricanes, wild fires e.t.c. has bad leaders or should I say leadership as her own natural disaster.
You are Wright
Leaders that ar senseless unintelligent no creativity on how to move the economy of the country forward to tackle problems we have. Just to answer president borrow money put loan on our head do corruption siphon carry the remaining money we have meant to manage govt of the country enrich themselves and leave people in abject poverty . useless and foolish leader.
I pray that God in his mercy will help us in future to get a better leader that has the characteristics of a good leader that will help this country from it's present predicament that will manage the economy of the country and make better again.
This is just the beginning.
My annoyance is that it’s affecting everyone including those that didn’t vote for Tinubu. I would have loved it to affect those that voted and supported Tinubu
keep crying. You have been crying since 2015. Tinubu is your president and will rule his 8 years
How can nigeria the giant oil country of africa get crisis ?
@@aghonelego2379you guys need to stop tribalism
Unfortunately, the economic effects have an equal opportunity effect across the board!
@@aghonelego2379 fortunately for me, I’m in the UK with 100% better living condition than what you guys are experiencing. I’m not crying like you lots that live in Nigeria. Well, that’s your cross and you’ll have to carry it for whenever years. I do hope you enjoy the roller coaster journey of Nigeria🙏🏾
They should keep on voting based on religion and tribe. Na everybody dey suffer am
Exactly what I've been drumming for so long now. Make we suffer together so that eyes go clear and brains go format 😂
Facts that's why people suffering. They forget to know that their passports says republic of Nigeria 🇳🇬 nat fula igbo yerouba or Christians and Muslims etc
Yeah Sai baba indeed. Surprised how no one complained during Buhari
Majority of the people didn’t vote for the this government.
Including you
Religion and tribalism are problematic to our countries growth and unity, but an even severe problem is the stealing, wastefulness and mismanagement of our countries resources.
Please For Gods sake Nigerian Government stop this problem ,this is shameful to the rest of Africa , you are a intelligent people, this starts at the top who lead the country, we outside Nigeria are looking at this in total disbelief, i am a Jamaican , may God help the people and deal with the leaders severly if they do not fix this problem😮
My favorite country seeing them like this hurts me 🇿🇲😢
RENEWED SHEGE. Una eye go peel. Ancestor is on the seat
Channels reporting is just way up there. Keep it up
It's not easy now, my small business have collapse because of high prise of goods
Channels is an APC party. So let's ride the wrecked train..
The weapon fashioned against the Igbos has returned to the senders and the innocent.But God will never leave those who stood for what was right stranded.Congratulations to the AGBADOS
Security is the main issue. Tackle it and farmers would get the confidence they need to promote food security. As for the logistics issue, get both the govt and private refineries going. I don't understand how the govt cannot think and make critical decision as opposed to lip service. I pray we don't leave this too late and end up another Zimbabwe 😢
The high cost of governance is the cost of all the high cost of living, and even the current plans will worsen the situation of the common man in Nigeria. The solution to what is happening now in Nigeria is nothing else but a Revolution. To the wicked leaders, Revolution is a disaster but to the common Nigerian is starting afresh.
Hospitals are experiencing influx of patients whose main problem is under-nourishment. Now is the time for the economists in universities to begin to examine which model will work for the nation. Strangely, we haven't heard much from them.
The problem is not lack of economic models. There's is no lack of economic models to help build the nation. There a enough stellar examples from our not distant past, and different emerging economies globally.
The problem is unfavorable government policies and practices that truncate and exsanguinates productive economic activities, not only crippling small and medium sized businesses, but also driving inflammation, poverty and suffering.
This is journalism, keep it Channel TV😢🎉
Keep speaking English. Next time, vote by tribalism and bigotry.
Thanks for this content, let's loud it
Let this things thunder in the ears of the government
Hello well done god bless you
The is great for all you supporters of APC
We Igbos are not supposed to join any Nigerian in any protest, let endsars protest be a lesson to the Igbos
Even if you don't protest, will it stop you from sharing in the suffering?
exactly sir, we protest now,they will say we are trying to overthrow the govt of their brother.
Facts!!!
I swear.... I used to be against biafra stuff but now I'm starting to realize that we need to be an independent nation
My parents are both igbo.. I'm igbo too and I can't speak it.. Will I be accepted?
Until Nigeria embraces true federalism and abolishes dependency of states on Abuja for income, there will continue to be problems.
Someone says he wants to take the country from consumption to production. We say No.
God bless you
Imagine. So sad.
Do you produce with poor electricity
@@segineseju464at least he will start from somewhere
We said NO because he came from the ‘wrong’ ethnic group.
Price of petroleum products triggered all the problems.
The primary responsibility of government is to provide security and prosperity for the people. This government has failed in this regard and should be kicked out.
Finally Nigeria Naira becomes 2000Naira to 1 pound!!!!! What a country and leaders!!!!
It shows ur nation is improving...!! 😂😂😂😂
What concerns pounds with onions, garri,amala,native rice,beans,cocoyam etc. I wonder.
It’s only N1500 to $1. 😆
It will get to 2000 naira per dollar in few weeks
I can’t wait. Lol
The government should support farmers so that much foods should be available for all Nigerians.
Their european masters won’t allow them
In how many months from now ? Nigeria will be far gone by then
Nigeria Government ban sending money from Nigeria to outside countries.....
Thereby creating problems for high demand of US dollars.....
In which is declining the value of Nigeria Naira to US dollars...
Nigeria Government should lift the ban on sending money to outside countries... Which in-return will reduce the pressure on Nigeria naira to US dollars....
Also strengthen the value of Nigeria naira to US dollars.
Thank you
How can they help farmers when they have refused to solve the real source of the problem which is INSECURITY that had chased the farmers away from the farm.
Ewu, which government? bokoHaram government?
This is the beginning apc is just starting
Am tell you😮
What’s Apc?
@@citizencoy4393it's a party in Nigeria. For example, here In America. We have Republicans and Democrats.
@@solomone94 Thank you. Trying to get a better understanding of why this is happening around the globe and who is working together behind the scene.
@@solomone94your a lucky guy
@7:00 Why is the reporter going to the market and yet giving us prices of goods in 2023. Those are old prices. We are in 2024. I thought the idea of going to the market is to get today's prices. Prices have gone up exponentially in the last two months.
Any Nigerian living in Ghana?. Do you still find a way to buy your foodstuffs from Nigeria?. Please, I want to add my shopping list to yours.😊
My take on the high living cost is this.
Firstly, what’s going on is a necessity which should lead to unplanned urgency.
Over the years, Nigeria has failed to advocate for vast involvement in mechanised farming, We have been too focused on crude oil as a major source of our revenue. However, reliance on oil is an outdated approach. Hence, oil producing countries like Saudis and Russia do not actually depend on oil as the chunk of their economy sustainability.
In conclusion, this urgency if channelled properly could birth a new Nigeria that sees oil as a passive contributor to the economy, because agriculture will become the most widely accessible engagement, which is. Moreover, we can produce for our consumption and export to other nations in the nearest future. This can be possible if only we think this way.
Welcome to the era of renewed hope...
Renewed Sege Banza. 🤣🤣🤣🤣🤣
At the first month of Tinubu:s regime, someone Tweeted on X that "we will miss Buhari" He was right, and this is just the beginning.
Nigeria doesn't missed anyone of them. Both are forgotten men.
Honestly the cost of living in Nigeria is really affecting me, most expecialy in Lagos state here.
Oh dear. Only you Abi?
You pay monthly or yearly rent in Lagos
Visit Asaba!!, You go know
What is the cost of living there without rent monthly for one person average living?
I’m a Ghanaian, I really have a soft spot for the country Nigeria, it really breaks my heart to see a wealthy nation like Nigeria struggling to feed its own citizens, unlike its free, arable lands, most billionaires and millionaires on the continent, it every billionaire will finance agricultural engineers and farmers into mechanized farming to reduce starvation,
Bro am from d zoo called Nigeria don't mind what u see about d thing called Nigeria let it disintegrate ok
@kelechi9438 no, then everybody else around will suffer because Nigeria is overpopulated.
These Minna people una never see nothing...shey na APC una vote.....no complain....ENJOY.
Right peter na apc dem a vote.
And no mentioning of current pirces of these items which today are more than double what they were in September 2023
The economic crunch in Nigeria is predicated mainly on high cost of fuel (energy) prices and the prevailing exchange rate, coupled with lack of capable leadership to sincerely and effectively tackle these, and other local and international dimensions of Nigeria's socio-economic environments; which otherwise would have helped to assuage the sufferings of the masses.
The ' GIANT ' of Africa for where?
Giant of Africa my foot, country way nor get light how are they "giant " of Africa?😂😂😂😂
Oil rich Nigeria? There's something very wrong! AFRICANS!!,😢
@@nnekairoegbu2360aren't you Nigerian
You and I are both igbos
I am from Guinea West Africa French speaking country but i reside in USA.
I am very surprise , this is a top poverty ,and famine . This is a big shame ,and big slap on innocent citizens. So ,they are pocketing all the money ,and mens , wowens ,elderly people ,youths babies are suffering . God will punich severely this fake African leaders. It happening in my country too. My sisters told me ,that some people can barely eat for three days. All the food prices have been risen for those leaders wickdness. What i see some people have to engage in farm work, plants some food. That they can be able to put food on the table, so help yourelf ,your family.
I am from guinea Conakry the forrest area ,my people do this to survive,palm oil, rice yams corns ,you can name it.they way i am seeing those meals are not healthy,no sauce or meat . They will start loosing vitamins . Oh my lord Jesus please help Africans nation. It baffles me a lot
My country is dealing with the same situation.i am living abroad ,when i think about it ,i do not want to eat. I am worry if they have been eaten .i call their phone sometimes. So so so shame
We have to make a move. We can't continue letting this Slide...
All this food items mention is not sold like this in the East part of Nigeria. 1Liters of groundnut oil is 1700 oo
God please intervene in this case
When the average income of 30,000 Naira, what time frame is that earnings meant for?
This is interesting. What in the whole world is going on? Here in the USA our homeless population increases by the day bc ppl can not afford rent and food. Jobs are barely hiring Americans , and government aid is being denied or 6 month waiting list.
Yep I put applications I get tired here in Philadelphia only part-time no full-time too bad the world is goin down
Yes yes what state you in
@@ZaharaImole Philadelphia
@@leboyemichael4733 omg I could imagine and Kensington Ave makes it look like it's going down foreal..do phila have shelters
The world is getting out of hand. Nothing is going to be easy again.i trust only on God, my brother.
All states should go back to farming. We need to reset our ways of thinking that all good must be imported.
I have a register Street ministry.I saw another Preacher on the Street,asking for donation from car drivers. I told car drivers why I am standing near them,and asking for help,and donation.
Up Apc people
i am sorry this is happening in nigeria,i am zimbabwean and we went through the worst inflation ever .but we are an agricultural country so food is not a problem as everyone has a garden or field. thank God zim is on a rise and slowly recoving now as we have adopted the USD as our main currency but we are not strong just yet. God bless Nigeria.
Aftet this 4 years , next 4 years will be NEXT LEVEL OF HOPE .
People should go and farms in Nigeria because consumers are too much in country.
Those that are farming are being killed by herdsmen.
So however you look at it, the government is a massive failure.
God is our strength 🙏
It has not ended yet. All of us will suffer for this both the poor and the rich.
Involve big brother
200 naria rice kwa. Here in my area 800 that size of food ooo
Please let us vote for tinub in 2027
Reality!
Good
Why is government unable to overcome greed and stealing in these lands overrun by Abrahamic religion and their foreign gods. What is all this fasting and praying doing for us?
This is terrible! I pray that everyone will live through this evil that we are all feeling in these dark times. But God we be clearing this up soon so hang in there you Israelites ❤God Bless You All.🙏🏽💜 IUIC in the classroom
I think it's the price of fuel, desil, logistics and transition that is causing this inflation.
An alliance of feudal nomadic Northern oligarchy and yoruba emilokan elites produced one of the worst political party that has impoverished and brought about 9 years of tears and blood.
Power without responsibility and compassion. Its about corruption and more corruption
This situation will bring problem in Nigeria. Why Nigeria, this man made hardships??? REVOLUTION REVOLUTION REVOLUTION REVOLUTION Dede watching from Barcelona Spain .
May God help us
So why wait untill people go to the streets before releasing some food from the food reserve?
Something sinister is going on
Pls ankilo of boneless beef has been 3500 since 2023. It is now 4000 to 4500. The bureau statistics is wrong to talk of 2400.
1kg of meat in Nigeria is around 300kenyan shillings...here in kenya 1kg cost double that.
Mafuta ni chwani😂
Na wanacomplain bana
Its happening everywhere now
Things could get so much worse. Nigeria needs to learn from turkeys mistake, inflation in turkey is up by 80%, they've lost confidence in the lira, same thing is happening in Nigeria, bad policies and leadership will always show on the economy.
May God help us 🙏 😢
Oh Nigeria, very sad, hmmmmmm
Pls can this protest happen simultaneously in all the Nigeria cities
No
The most poorly run country in Africa. There's scarcity of everything. Quality essential commodities, gasoline, fresh fruits and vegetables, used and new cars, and to crown it all, there's scarcity of cash in circulation. You go to the bank and they only give you an equivalent of 15 dollars no matter how much you have in the bank.
In addition to the above, there's scarcity of qualified and competent professionals, including competent leaders. They've allowed curruption to get the better of them, to the extent that every problem the country faces are artificially engineered to suit the few politically powerful. Suffice to say that Nigeria is such a FAILED STATE that it's not worthy of being incorporated as a nation.
What really upset me was when APC began to politicize the hunger protests. When its members began to accuse the opposition of organizing the protests. Must everything be politicized? This is what led us to this point--dirty politics.
As long as corruption still remains in the most important key aspect of government, It will not get any better. Same story every year and you expecting different result.
It is a big shame to the government and their supporters
The lessening profit from Oil export by the government of Nigeria is just one of the reason of this inflation.
People are not connecting the price of petrol to transportation cost, that’s the root of the problem income should rise in relation to transportation costs it doesn’t matter how much food is there once you have to transport it , it adds to the cost of what ever it is that you transport, even a shirt .
I m not nigerian but from outside it looks like there are few very very wealthy people in nigeria and rhe rest are poor
Chaneltv una dey use brian shaaa pls carry your documentary go agbadorian side pls
Ha heavens help us ooooooo! Nigerians must survive ooooo😢😢😢😢😢
But they say fuel is the major factor that makes high cost of products , this is in the layman economic understanding ,like me, and the confusion is Nigeria has reserves of oil and it is the richest nation in Africa, so where is the confusion.
7:28 what are the figures for February 2024
I was waiting to see it but channel's television purposely omitted the figures for January and February 2024
Snatch it, grab it and run away with it 😂😂😂😂
Runaway inflation has grabbed, snatched and running away with Nigeria/Nigerians. Everybody eye go clear. Make we suffer together 😂😂😂😂
This is where we are now unfortunately.
Plsss ooo don't we have a body that regulate prices in this country its disgusting what's happening in this country
Madam tbis os old price !! Go and get the corrent price now ....price of goods increase everyvdayv
Honestly
She said it very clearly, the world is becoming something else.
WELL DONE TINUBU, you BOSS the pope must be very happy with you!!
In indonesi 1998, the people just toppled down the government, everything getting better since
Just imagine we start production with the price of Naira now to dollars and export . Imagine the amount of foreign exchange we will be making
You wan produce with generator with expensive fuel & costly raw materials
It's a global issue....Here in the UK is a struggle for many.... Sorry to also have to watch such sad news... Let us 🙏🏾
I thought I had to be this one on how she say do to you by the day I was born tomorrow, how I know me is who come my way today so to see this is Nigeria our country, If you're poor like me sorry for you. Make God help me make my pikin no see half of wetin I dey see
It's our country, inec , judge,is the best contributors
To address the economic crisis in Nigeria, traders must engage in intra-trade for their goods and services. For instance, a rice seller in need of tomatoes should consider trading their goods with a tomato seller, and vice versa. This approach could foster a symbiotic relationship among traders.
In addition, to accommodate the country's economic situation, traders should take the initiative to reduce their pricing. Open trade should be actively promoted for goods, as it can potentially stimulate economic activity.
Furthermore, it is essential to reconsider the role of unions that are currently setting prices. Their influence might need to be curtailed or modified to ensure fair and balanced trade practices that benefit all parties involved.
In other words, regress thousands of years to the trade by barter system?
@@ihamajulius1096 you can either starve and depend on a corrupt government to save you or save yourself. It's not Rocket Science.
So you propose the barter system? You well at all?
Agricultural student are in school looking for where to cultivate they government should enforce them
So aft3r all the analysis whats the solution whats the way forward 😢😢
The way forward is EMILOKAN 😂😂😂
The job of a journalist is to report what's happening not really to suggest solutions; ask your government that question
So how does niagerins take the kobos or pay with kobo where we don't even accept 10 naira any more ?
So now it is time for agbado and cassava and corn and according to minister of cassava he said cassava will come out in 3 months time so there is hope
This is everywhere win the world. But those markers look so unsanitary.
Naija' is populated free Biafra
It a better position now to remember the word of Tb Joshua some of us we did not see it come to happen but Tb Joshua saw it since 2008.
God help us
What is this woman talking about the prices increase weekly
Omor she dey dey mention 2023 when price dey increase everyday since January