Abuja: Many residents of the Federal Capital Territory (FCT) have continued to express their concerns over the economic hardship currently affecting the country. The residents conveyed their grievances during an interview with News Agency of Nigeria (NAN).
According to News Agency of Nigeria, the prevailing economic conditions have severely impacted the residents’ ability to meet basic needs. High transportation costs and inflated food prices are reportedly taking a significant toll on their income. Many residents are resorting to survival strategies such as forming group savings schemes and reducing their consumption.
Mrs. Grace Okoro, a civil servant, shared that her family can no longer afford three meals a day due to the economic challenges. She highlighted that her monthly salary is insufficient to cover essential expenses such as food, transportation, school fees, house rent, and healthcare.
Mr. Abel Akpan, another civil servant, pointed to the removal of fuel subsidies as a significant factor driving the increased cost of living, describing the situation as ‘unbearable.’ He noted that many civil servants are heavily indebted, with salaries often committed to loan repayments before they are received. This has reportedly led to a decline in morale, increased stress, and low performance within the public service sector.
Taxi driver Mr. Adigun Lateef described the hardship faced by drivers who spend more on fuel than food. As many taxi drivers are primary breadwinners, the reduction in income has led to heightened stress and anxiety. He called on the Federal Government to introduce support programs for taxi drivers, including financial assistance and access to affordable alternative fuels like Compressed Natural Gas (CNG).
Mr. Celestino Odo, Head of Programme and Policy at ActionAid Nigeria, criticized recent economic policies, describing them as ‘widespread misery.’ He attributed the economic strain to policy decisions such as fuel subsidy removal, currency devaluation, and high interest rates, which have significantly increased the cost of living without adequate safeguards for vulnerable populations.
Odo argued that while subsidy reforms may be necessary, their abrupt implementation without a structured transition plan has exacerbated economic conditions. He noted that in developed economies, subsidies remain crucial for supporting critical sectors like agriculture and social welfare. He emphasized the importance of allocating adequate budgetary resources to agriculture, a sector employing a significant portion of Nigeria’s population and vital for food security.
Odo criticized the palliative measures as temporary relief rather than sustainable solutions, urging authorities to focus on long-term economic policies that address structural challenges. He also identified insecurity as a major driver of poverty, highlighting that displacement of farmers has disrupted agricultural production and worsened food shortages. He called for urgent actions to restore security and enable citizens to return to farming activities, urging policymakers to realign their strategies to alleviate suffering and rebuild public trust.