Korede Abdullah, in this report captures the grim hunger situation across Nigeria, in a bid to Fact-Check a recent analysis in the New York Times publication.
In the two editions of the New York Times published on June 11 and June 13, 2024, the first one was titled, “Nigeria confronts its worst economic crisis in a generation” and the second was titled, “A resourceful nation buckles” respectively, the American newspaper vividly captured the grim situation currently being faced by Nigerians as a result of skyrocketing inflation.
The newspaper poignantly painted widespread poverty in the country, with the recent industrial action embarked upon by labour unions over low salaries, fatal stampedes for free rice and other food stuff, and hospitals overstreched by patients with nutritional deficiencies.
Grim Situation
The paper traced the root cause of the Nigerian mounting economic challenges to two major drastic changes implemented by President Bola Ahmed Tinubu when he came to power 15 months ago: the partial removal of fuel
subsidies and the floating of the currency. The two have together triggered an astronomical rise in prices of good and services.
Presidential Rejoinder
As expected, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a rejoinder, responded to the report on Sunday. The Nigerian presidency regarded the story as a “predetermined, reductionist, derogatory, and denigrating way foreign media establishments have reported on African countries for decades.”
The current price index lends credence to the fact that, these are not the best of times in the Africa’s most populous country. According to the Bureau of Statistics, NBS, data, Nigeria’s inflation rate increased to 33.95 per cent for the month of May 2024.
In comparison to the April data, it represents an increase of 0.26 per cent points in the headline inflation rate from 33.69 per cent recorded in the preceding month. The NBS stated in the Consumer Price Index report released on Saturday.
Consumer Price Index
The Consumer Price Index (CPI) is mainly used to measure the average change in prices of goods and services consumed by households over time. For instance, between January and May 2024, headline inflation has risen, surging from 29.90 per cent in January to 33.95 per cent in May, representing an increase of 13.5 per cent.
It is not only the prices of goods and services that have hit the rooftop. Rents have also soared by more than 90 percent, especially in Lagos and some cities, making lives more difficult and challenging for the residents.
Respondents
According to Mr Wale Zubair, a secondary school teacher and resident of Alhaji Ede, at Igando, who spoke with Africa Health Report, he said that he paid two-hundred-thousand naira when he moved to his one-room self-contained apartment in 2021, the rent has now increased to three-hundred and fifty-thousand naira!
Mr Zubair added, “for the past two years, my salaries have not been reviewed upwards in a private school where I teach. Now I will have to face another problem of an increase in my rent which will automatically strain my pocket.”
Zubair’s predicament represents the lots of many Nigerians who are gasping for breath under the weight of the present economy hardship. An evaluation of some standard apartments indicated that rents have nearly doubled across different parts of Lagos.
The issue of transportation is also in the front burner of discussion. Nigerians have continued to face transportation challenges, especially since the fuel subsidy removal, resulting in increased transport fares. The effect of the scenario is high costs for goods and services.
In urban areas, like Lagos, Abuja and Port-Harcourt, public transportation system is grossly inadequate, considering the large volume of people that are dealt with. The few available private commercial vehicles capitalize on this to hike their fares indiscriminately.
Talking of insecurity, it appears to have become a hydra-headed snake despite the relentless efforts of the military to fight the terrorists and bandits to submission. Insecurity is more pronounced in the north which is considered as the food basket of the nation.
Insecurity
The killings in different parts of Nigeria have become a clog in the wheel of food production in Nigeria. The violence perpetrated against farmers by criminal gangs in the north which is the worst hit, contributes to a record high surge in the prices of goods, especially those of food which has gone beyond the reach of an average Nigerian.
Nigeria’s naira has no doubt, experienced difficult times in recent months dominating the headlines of newspapers. It has also emerged as the world’s worst-performing currency since April 2024, according to a Bloomberg report published in April.
Naira vs Dollar
From N700 to a dollar in May last year the naira has depreciated to N1480 against the the US currency, marking one of its weakest level since the first quarter of this year. The devastating effect has also been felt in terms of high prices, not only on foreign made goods, but also on locally made goods. Small and medium scale enterprises are also at the receiving end.
In a nutshell, all the defences offered by the presidency appear to be weak and watery. The spokesman didn’t say anything new by addressing the fundamental problems of insecurity, food crisis, inflation, high cost transportation and general cost of living for an average Nigerian who is struggling day in day out to make a living. From all indications, Nigerians are not smiling, unless president Tinubu takes a bold step to reverse the ugly trend.
