Living in Nigeria comes with its challenges, and one of the most pressing issues is the high cost of living.

For many people, making ends meet is a constant struggle as everyday expenses continue to rise.

Starnews NG reports that basic necessities like food, housing, and healthcare have become increasingly expensive, making it difficult for the average person to afford a decent standard of living.

The cost of food, in particular, has seen a significant increase, impacting families who often find it challenging to put nutritious meals on the table. The inflation rate in Nigeria has impacted the prices of goods and services negatively thus making affordability nearly impossible.

Housing costs have also soared, making it tough for individuals and families to secure affordable and suitable living spaces. Starnews NG can report that the housing challenge contributes to overcrowding and substandard living conditions for many Nigerians. Government has done little or nothing to address the housing problem in the country. And where they built housing estates, top government officials always hijack them for their cronies, proxies, and family members for commercial purposes.

Access to quality healthcare is another area where the cost of living can be overwhelming. Medical expenses can quickly drain savings, leaving individuals and families vulnerable in times of illness or emergencies.

The unstable exchange rate in Nigeria is another factor. The weakness of the naira and the overdependent on the dollar have made the cost of imported goods unbearable. Sudden removal of subsidies on fuel, education, and others, without a concrete action plan by the government to cushion the effects on the masses was another recipe for the hardship and nightmares being experienced by Nigerians.

The high cost of living in the country does not only affect individuals but has also hindered the overall economic development of the Nation. It has created a cycle of poverty, limiting opportunities for education, employment, and personal growth.

Sadly, both the government and private sectors are not helping the matter as salaries and allowances have constantly remained stagnant in Nigeria. Starnews NG reports that the government has refused to create more jobs. The private sector is downsizing every month. Some of them are reducing salaries and allowances to cut costs instead of looking at other areas.

The Labour Law of the country is so weak that employers of Labour do whatever they want and get away with it. The job losses and unemployment rate in Nigeria are unprecedented.

Efforts to address this menace include government initiatives to improve the economy, create jobs, and provide social welfare programmes, but unfortunately, the widespread corruption under the ruling All Progressives Congress (APC) is hindering the success of the aforementioned initiatives. However, the road to reducing the cost of living is complex and requires sustained efforts from both the government and the private sector.

Starnews NG writes that living in Nigeria is a daily challenge for many due to the escalating cost of essential goods and services. Addressing this issue is crucial for the well-being of the population and the overall prosperity of the nation.