Economic Challenges and the Cost of Living: A Personal Reflection from Nigeria
The high level of economic downfall literally affected most countries around the globe, leading to inflation and a high cost of living in most countries around the globe. Down here in my country, the same is the case, if not more, as the price of goods and services has gone up beyond control, leading to frustration, hunger, starvation, and the citizens inability to afford basic amenities.
This is annoying and affected me personally, just as it does to almost every other citizen, and I can't help but cry for help from the government to take positive action to curb the effect of this inflation that has led to a high cost of living within the country.
Since the current ruling party came into power, the situation in the country has gone from bad to worse. Yes, you read that correctly, because prior to them coming in, we didn't have a decent life, but this new regime seems to have taken things to a far more unbearable height, and even when it seems as though they've taken actions, things don't seem to be taking a positive turn, which makes me begin to wonder what the true cause of our problem is.
A few days ago, I was paid my wages for the month of March, and with that, I went to the market to stock the house with foodstuffs so I could have something to fall back on during the month of April. On arriving at the market, I still couldn't believe how I spent about half of my salary on foodstuffs that weren't even more than a bag. I was like, Is this all I'm getting for such a huge amount of money?
A few months ago, I spent half that amount on the same set of food items and had extra bags to take home. I was downcast and couldn't even bear how things changed over time. Like I've said once and will continue to say, we, the citizens of my country, are one of our own biggest problems.
Sometimes ago, when the naira depreciated, many people hiked the value of their goods and services, and they blamed the naira depreciation as the reason for the hike, even the ones they got for cheap, and we had no choice but to buy those things at the new value. But fast forward to now, when the value of the naira has appreciated, none of them has changed the value of their goods; in fact, they kept on increasing it, which shows how inhumane and selfish we're in this country.
Onto the focal point of this article: like I said, my country, Nigeria, is plagued by a high cost of living that has dented the way of life of the people, but if I were to compare the value of goods and services here in Nigeria to other countries in Africa and Europe, then I'd say our situation is much better, because a few days ago I was speaking with a friend of mine in Ghana, and when he told me how much they buy a crate of eggs over here, I saw that the value over there is like $2 more than it's here.
The same is true for other items and services, and that kind of made me decide within myself that I guess we're probably much better off here, especially if I'll be paid the same wages I'm getting here in the new country. I remember speaking with my best friend who moved to the UK two years ago, and over there she can't help but complain about the hike in price of items within her short time of being there, and when I compare the value of items there with what we've here, I realize most of the things are like five times more expensive than they're here in Nigeria.
Now to my reader, you don't have to criticize me; this is just a simple analysis of the value of items down here in Nigeria and some other countries, and as the prompt topic said, will the amount I earn here in my country be enough to make me survive down there in other countries? The answer is no.
Because our minimum wage is ridiculously small compared to that of other nations, if I'm moving there with the same wages, then my situation would be like that of someone going from frypan to fire, and if at all I want a better life for myself, then I should be able to earn more than I'm presently, probably times 3 of what I earn presently if I'll stay in Nigeria, and like times 10 of what I earn now if I'll jump ship and go to another country.
But here is the truth: if paraventure an opportunity arises for me to move to another country of my choice, then I'll gladly do that, because I know I'll tend to have a better life over there than I would down here. Although the cost of living over there is far more expensive with loads of taxes to pay, I also know I'll earn more, and being someone from Nigeria, I've undergone a survival lifestyle that would help me cut costs and make my life better in such an environment.
That's it for now on the subject matter. I hope you enjoyed the read. Do have a wonderful day and stay blessed.
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A lot of people will starve to death if things in Nigeria continue as they are, so I cannot imagine how the people will survive. Because salaries are not increased and prices are high, wage earners are no longer able to make ends meet. I hope that something will be done about this as it is becoming unfunny.
I hope so too, it's going out of hand and there's a need to change minimum wage if at all salary earners must survive, as it's easy for others to hike their value for goods and services to meetup with presents happenings.
Well, I do not see the current administration taking any action regarding the salary increment; instead, they ought to focus on figuring out the way to control the excessively high rate of inflation.
You are right, things are not going so well since this current government cane into power. Minimum wage is not even helping at all, people are going through a lot this present time.
God help us all.
Yes nothing seems to be working, hopefully things get better.
A lot of people are really lamenting and complaining about the situation of the country. I strongly believe there is much more than will be better
Yes they're complaining because the situation is unbearable.
The cost of goods have gone ridiculously high and traders keep having one excuses or the other to make sure it stays that way. I support the idea of only moving if your earnings increases say, 10 times more.
That's just it my dear, it's annoying seeing how things Keep getting worst by the day, if the wages will increase the way I slated then I'll consider either of the options.
High price of goods is a problem everywhere. The corporate store the items and reason for black marketing.
Yea it's getting overboard and annoying.
You are right, things have not going well since the current government had took over the power, ever since he took over things have been expensive and many people are going through a lot all because of how things are going higher every day.
We can only hope and pray things get better, but then we've a part to play in that as citizens, because we're part of those oppressing ourselves.