Nigeria faces severe economic challenges, including inflation over 30% and unreliable infrastructure, yet its people show remarkable adaptability. Daily life varies by region and income, with many relying on multiple jobs to survive. Security issues and poverty affect millions, but strong community ties provide support.
Nigeria's economic landscape has worsened since 2023, with fuel subsidy removal sparking inflation above 30% and the naira depreciating from ₦450 to over ₦1,750 per dollar. Food prices have surged, a 50kg bag of rice now costing ₦95,000 compared to ₦25,000 previously, while food inflation hit 40% in 2024. This has eroded purchasing power, with a teacher's ₦95,000 salary in Kano barely covering basics, as transport fares rose from ₦200 to ₦800.
Infrastructure woes persist: most households get 4-12 hours of electricity daily, relying on generators fueled at over ₦1,000 per litre, adding ₦30,000-₦100,000 monthly costs. Water access is spotty, with middle-class families spending ₦15,000-₦30,000 on tankers. Healthcare divides classes—private consultations cost ₦50,000, while public facilities face shortages. Education fees in Lagos private schools range from ₦300,000 to ₦1 million annually per child.
Security threats loom regionally: Boko Haram in the northeast, bandits in the northwest, and separatist attacks in the southeast. Kidnappings are common, prompting risk assessments for travel. Despite this, 133 million live in multidimensional poverty, yet 66% of workers are self-employed, hustling multiple incomes. Youth unemployment exceeds 40%, fueling emigration.
Communal bonds and cultural vibrancy— from Nollywood to Afrobeats—offer solace. In Lagos, a family of four needs ₦250,000-₦400,000 monthly for essentials, highlighting regional disparities where northern areas are cheaper but face harsher conditions. This resilience amid adversity defines Nigerian life.