When Oluwaseyi Akintunde and his wife relocated to Ile Ife, Osun State, shortly after they got married in Lagos earlier in the year, the young couple prepared soup every day with about N1,000 or N1 500. Although the economic situation was challenging, the couple still had the financial strength to prepare and enjoy their favourite delicacies every day.
– Sodiq Lawal
“In terms of feeding, we have long adopted austerity measures since the time of Buhari. We used to cook soup every day for N1k or N1500,” Mr Akintunde said.
“From it, I’d take food to my office at OAUTH to cover for my breakfast and lunch, until inflation started hitting the rooftop. This affected the prices of groceries and my wife started complaining.”
But in June, the removal of fuel subsidy changed the culinary taste of the Akintundes and, like many Nigerians, the family began to face unprecedented hardship amid skyrocketing prices of food items.
Mr Akintunde, a chartered accountant, said the inflation rate forced the family to cut expenses even on essential commodities.
“Since then, we have reduced soup-making to once in two weeks. And you know how far-reaching that decision is in a typical Yoruba household,” he lamented.
Like the Akintundes, many Nigerians have had to face hard times in recent months as they continue to battle multi-dimensional poverty, misery, high cost of living and inflationary pressures exacerbated by the ripple effects of government policy reforms.
Tinubu And Fuel Subsidy Removal
President Bola Tinubu had during his inauguration, on May 29, announced the removal of subsidy on petrol, a development that has caused hardship for many Nigerians because of the attendant increase in the prices of goods and services.
Apart from the removal of subsidy, the Central Bank of Nigeria (CBN) also announced the unification of all segments of the forex exchange (FX) market as part of efforts to engender transparency in the markets and boost investors’ confidence. Although, the policy has been widely applauded as well-intentioned and necessary, it has put additional pressure on the local currency and manufacturers, with ripple effects on prices.
Both policies are being put in place at a time Nigerians are just recovering from the shock of a controversial naira redesign policy that crippled businesses and made life difficult for many Nigerians who could not access their funds for several months.
While the federal government has announced a series of palliative to mitigate the impact of petroleum subsidy removal and similar shocks on the people, many Nigerians are still reeling from the devastating impact as prices of petrol, foodstuff and other essential commodities continue to rise.
Economic Challenges And Food Rationing Of Families In Osun
Speaking with OSUN DEFENDER on Friday in Ile Ife, Ilesa, Osogbo among other towns in Osun State, some residents of the state said the current economic challenges have changed their food rationale and financial discipline.
Ishaq Shittu, who deals with shoe making in Ikirun, said: “The reality of things in the country have brought changes to my lifestyle. It has not been easy for everyone, not only me. In this country now, everybody is trying to cope. I have a family of four and I must tell you that before, we ate three square meals; but now, we have reduced the three square meals to two due to the situation that made prices of foodstuff skyrocket. We now skip lunch.
“Things have gone up and the most painful aspect is that the Tinubu administration unleashed hardship on the people from the first day the administration was inaugurated.”
Jamiu Munirudeen, a resident of Osogbo, said the economic hardship worsened since President Tinubu came into power.
He said the situation had become too difficult for her and her family.
“Things are harder than we can bear. Things were fair before now. Feeding thrice a day is now difficult. Let me tell you the truth, we don’t eat three square meals again but once in a day feeding is constant,” he said.
Precious Adams, a resident of Ilesa, narrated how the current economic situation forced him to change schools for his children.
“I was paying N98,000 per term for my four children at a private school. I have now removed and enrolled them in a government-owned school; this enables me to focus more on their feeding instead of quality education.
“The feeding is no longer as it usually was; the feeding is costing a lot. After breakfast, the children have to wait for dinner because the three square meals per day were no longer feasible. We now feed once or luckily twice in a day. My kids now augment their diet with snacks and candy,” the mother of four noted.
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