Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

[Grease5000]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

[Charles-Tim]

There is no deflation in Nigeria.

What happened is that there is disinflation in 2026. Disinflation meansnthay there is still inflation in Nigeria, but the rate of the inflation has reduced.

So if anyone tellt you that inflation in Nigeria is reducing, the person is right because inflation is reducing means there is still inflation but the inflation is not as significantly as it was before.

[Don Saga]

There is no deflation in Nigeria.

What happened is that there is disinflation in 2026. Disinflation meansnthay there is still inflation in Nigeria, but the rate of the inflation has reduced.

So if anyone tellt you that inflation in Nigeria is reducing, the person is right because inflation is reducing means there is still inflation but the inflation is not as significantly as it was before.

It is so painful how we  take suffering as a norm now in Nigeria and we have become used to it. When the price of fuel reduced to 700-800, motorists were a bit satisfied with the reduction because that would mean more profits, but does that reduce the rate of inflation? NO

The life of a common man is expensive, everyday the rate of suicide keeps increasing and theft is now a standard that most people develop to keep surviving. The country is not concerned about it's citizens, we have ourselves to fight for us.

[Rockson1]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

Nigerians will never feel the economic recovery, you know why, we do not have leaders government, we only have politicians that are too selfish in power, even though inflation continues to fall, those they call leaders won't do anything to help the masses, this is Nigeria, a country where prices of good and services goes up without coming down, do we have a government that have those that monitor the price of goods in the market, I  mean price control, yes we have, they are either ceremonial or they only go after those they ee as personal enemies or those that can pay them heavily.

The truth might be bitter, but we must know the truth, the APC led Government is the worst thing that that has ever happened to Nigerians, but they should know that, when you keep pushing people feeling that they won't do anything because you think that they are weak, a day will come when they will have not option left that to react beyond your expectations,I rest my case.

[ArabBTC]

One thing i have observed about Nigeria is that once the price of any commodity rise in Nigeria it cannot fall down anymore, even goods that was imported before the rise in the price of fuel are still sold expensive as if they were imported recently, even transport fare have remained same regardless of the minor reductions in fuel price, business men even capitalize on the state of the nation’s economy to extort and drain citizens, that is why even if the inflation in Nigeria seems a bit reduced the citizens are not feeling the impact and life in Nigeria still feels highly expensive.

[nelson4lov]

I have to agree with @Charles-Tim

Few days ago, I reported about Solana's disinflation proposal in altcoin board. It's why I understood that disinflation is just reduced inflation but not deflation.

I saw the score card presented by the president yesterday and while they claimed a lot of things, they noted that poverty and cost of living is on the high side. I don't think that will change until the cost of fuel is reduced back to what it used to be. If it cost 5x more to transport the same goods/services, that cost is transfered to and paid for by the end users.

[Mayor of ogba]

I don't know for other African countries but as for Nigeria, Nigeria is the only country that the prices of goods doesn't obey the law of gravity. In Nigeria, once prices of goods has gone up it doesn't comes down even when things are getting better in the country, and I believe that's the reason why the prices of goods are still high even as inflation is gradually reducing. Most of Nigeria traders are too greedy they will use the situation of the country to milk people, so government should step in to regulate the prices of goods when inflation is reducing and traders aren't adjusting the cost of their goods to correlate with the reduction in inflation.

[Btcdeybodi]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

It has become a norm in Nigeria that when inflation is reducing or when the naira is appreciating, the prices of goods and commodities will not be reflected so you don't need to be surprised that prices still remains unchanged despite that disinflation is happening.

So, are Nigerians really feeling the economic recovery?

Do you think that the economy will recover just because of disinflation? It doesn't work like that. Before the economy can recover then there must be deflation so that it can take effect across all sectors.

[Roseline492]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

The government always use a little drop on any price items to consider it a fall on inflation because I suspect it was the fuel prices that only reduce just minor number they must have been claiming that the inflation is normalizing but the practical truth from people who visit different commodities and other things all the time is that inflation is still the way it is on the market because prices of things are still selling on a higher prices so until they do what would restore the prices of things to become as before we are not going to see the recovery of the economy because it will keep getting worst.

[Bigjoe33]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

Nigeria? No way. We only experience the reduction on TV stations, radios and news hours, but not in the market and on transportation areas, and truly, the change didn't really happen, and it's not there fault. Sometimes, the high task imposed on the importation of these goods by our government is a problem we face. So while we hear that the prices of things are getting low, this business men still pay high to clear there goods at the custom, thereby making them still sell at a high price.

As for transportation, of course we know we can't experience a low cost of movement if we haven't practically seen a drastic fall in the price of fuel. It is still were it is. In my area, we buy #1,350 till date. So with this same amount for months now, how will the price fall even though we keep hearing that prices are reducing. Our government have a big role to play. Yes, they do.

[Yeesha]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

The problem is that normally human beings are actually wicked including the poors, and not just the government or the leaders, but they don't have the chance to display their real characters in public figure. Even if the price of the commodities reduces some people still sell them at higher price or rates. People are so wicked to the extent that if the price of food stuffs decreases, some of the farmers will hide their foods and will refuse to go to the market until the price rises higher.

[Africolo]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

Where is the inflation falling from?,  Because it's not reflecting in the economy or is it only on paper and on the News that it's happening, can we not decieve ourselves in this country because you and I know that nothing has changed about deflation the rate of the dollar is still high which determines our economy here.

Nigerians are suffering as a people and there's nothing the government is doing about the Inflation, my concern is the house rents does the dollar rate also affect that too because the rate at which the landlords has increased house rents is alarming and the less privileges can no longer pay, that's where the government was supposed to come in and regulate the rents, as far as we are concerned the inflation of the country is getting increased on daily basis and very soon we can no longer afford the little things we use to buy such as cement, rods and even cost of transportation, we need to help ourselves as country men and stop inflating the prices of minor commodities by ourselves.

[Abdulzuruku01]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

It's only media propaganda that inflation is falling but to my own perspective, the only thing that do make price of food cheap in Nigeria is fuel pump price and I don't see that fuel is falling rather than going up. People that are broadcasting falling off economy are not into local markets. Inflation rate is truly depreciating slower not that they're falling down. you need to go to the market and check out the price of food items or transportation you will come to believe that nothing is cheaper. What we are after from the government isn't the media propaganda, rather than the actual price of food items should be effective on local markets and salaries shouldn't be less than the price of food items in the market.

[Africolo]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

Almost everyday in Nigeria we keep hearing that inflation is coming down,  while majority of the population of Nigerians are still struggling with the cost of food, transport, rent and basic needs. While prices going up most who don't visit the local market but feed from the nation kitchen  claims that prices have become cheap again.  I think what Nigerians really need is not just just claims  on TV station, on social media or lower inflation, but cheaper food, better purchasing power and incomes that can actually keep up with the cost of living.

So, are Nigerians really feeling the economic recovery?

It's only media propaganda that inflation is falling but to my own perspective, the only thing that do make price of food cheap in Nigeria is fuel pump price and I don't see that fuel is falling rather than going up. People that are broadcasting falling off economy are not into local markets. Inflation rate is truly depreciating slower not that they're falling down. you need to go to the market and check out the price of food items or transportation you will come to believe that nothing is cheaper. What we are after from the government isn't the media propaganda, rather than the actual price of food items should be effective on local markets and salaries shouldn't be less than the price of food items in the market.

If we truly want to be sincere with ourselves and wants to say the truth about this whole matter is issued based in propaganda which you have rightly stated which is just the truth, I even saw a write-up here speculating that there is deflation and I bet to ask, where is the deflation and if there is, why is it that the prices of commodity is still very high in the market if they said it has reduced, you see we are our own problem because we can't even say the truth that is glaring at us, it's just so sad some people will spread fake news online and nothing is changing in the economy.

A proper feasibility study needs to be carried out by those who are saying there is deflation so they can  actually know that it's a false information and propaganda by the media or those in government, the prices of goods remains high and even the minimum wage can't sort out the bills of any civil servant due to inflation.

[Qhunman]

I don't know for other African countries but as for Nigeria, Nigeria is the only country that the prices of goods doesn't obey the law of gravity. In Nigeria, once prices of goods has gone up it doesn't comes down even when things are getting better in the country, and I believe that's the reason why the prices of goods are still high even as inflation is gradually reducing. Most of Nigeria traders are too greedy they will use the situation of the country to milk people, so government should step in to regulate the prices of goods when inflation is reducing and traders aren't adjusting the cost of their goods to correlate with the reduction in inflation.

Nigeria is not a producing nation, most of the commodities that we buy from the market are been imported including toothpicks. Do you know that we spend some billions of Naira annually just to import common toothpicks? And these goods are been imported with the US dollars. Why I think the government can't regulate prices of goods is because we import almost everything that we consume. And importers sets price based on the rate of the US dollar. So If the rate of the US dollars increase, importers will also increase the price of the goods so that they can make profits. if the government really want to regulate the price of goods in the market,they should build more industries, they should begin mass production of local goods. Nigerians should also patronised made in Nigeria goods,this way our Naira will gain strength over the dollar.

[Ishicryptic]

Inflation can be falling on paper in this country so that our incompetent politicians who are in power will justify to themselves that the country's economy is improving but in reality the ordinary man on the street is not feeling it and until they do it means that in practical the economy is still under inflation. So far the cost of goods and services are still on the increase we cannot say in practical that inflation is decreasing, take for instance the increasing cost of rent not only in the cities but also in rural areas due to the high cost of building materials, a lot of Nigerians hardly save anything after struggling to take care of their basic needs. Until the minimum wage in the country is able to sustain the ordinary Nigerians we cannot say that we are feeling the effect of any improvement in the economy.

[Hewlet]

Inflation Is Falling, So Why Does Life Still Feel Expensive in Nigeria?

A government policy that theoretically suggest that the economy is getting better but that at the same time don't reflect in the way an average man is coping is totally false. If there's deflection and all goods and services are experiencing massive hike in price, what kind of deflection is that?  If what is on paper doesn't correlate with what's obtainable in real life, it literally means that what's on paper is not true.

Of cause we can argue that government policies is a thing and sometimes that it takes toke before the effect is felt in the local market but at the same time, considering that this is almost the end of an administration that's ushering in another that might not take the part the current administration is talking, there should be evidence to back up whatever is written on paper.

[Mr_Brilliant$]

I wouldn't even pay much attention to inflation and the lower cost of price because that is not even the main issue. But for clarity sake, just because inflation falls doesn't mean price will fall too. But price might increase on a slower pace. So my focus will be both on income and purchasing power. Once those are intact, Inflation and deflation won't hurt Nigerians.

[TrialBitcoin]

I wouldn't even pay much attention to inflation and the lower cost of price because that is not even the main issue. But for clarity sake, just because inflation falls doesn't mean price will fall too. But price might increase on a slower pace. So my focus will be both on income and purchasing power. Once those are intact, Inflation and deflation won't hurt Nigerians.

The real issue is not simply whether inflation is falling or rising, but whether Nigerians' income and purchasing power are keeping pace with the cost of living. A slower increase in prices is still an increase if wages remain stagnant. What matters is having an economy where people can earn enough to afford their basic needs, save, invest and still have something left over. That is the kind of stability Nigerians actually need.

[DYOR+BTC]

Am not sure you are in Nigeria because all in Nigeria today knows the so call inflation is still increasing and not reducing for now. In Nigeria today it is very difficult for a common man to survive not because they wish for that but all because of bad governance and corrupt political representatives.
Excluding the existence of corrupt political representatives today i will say Nigeria won't have seen inflation as a major threat in the country because the resources available in the country is enough to provide a balanced economy for the country