Why Is Nigeria’s Cost of Living Skyrocketing—and What Can We Do?

I live in Nigeria and I see neighbors struggling every day. A bag of rice that cost ₦15,000 now goes for over ₦80,000. It truly feels like survival. Several factors are driving prices up: the 2023 fuel subsidy removal, a depreciated naira, insecurity that displaces farmers, global shocks like the Russia-Ukraine war, monetary mismanagement and ongoing border restrictions. The effects are severe. Families skip meals, workers spend their entire pay on transport, medical care is out of reach and young people are migrating or turning to crime. Mental health is suffering and communities are fraying. We need action: support farmers, stabilize the naira, build roads and storage, create jobs, boost local production, align fiscal and monetary policies and provide social safety nets. If we work together, Nigeria will rise again.

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