In the face of mounting inflation rates, Nigerians are making significant adjustments to their usual Christmas celebrations, opting for prudence and essential spending as the cost of living skyrockets.
With the National Bureau of Statistics (NBS) reporting an alarming 18-year high in consumer inflation, reaching 28.20% in November, families are grappling with inflated prices of staple food items.
Food inflation, a dominant factor in Nigeria’s spending basket, surged to 32.84% last month, amplifying the costs of goods like rice, beans, vegetable oil, and even sachet water.
These economic pressures have prompted individuals to reassess their festive plans.
Many, like banker Mrs Funmilayo Oyinlola, have decided to forego rice, a customary holiday dish, opting instead for more budget-friendly options like pounded yam.
“I have a young family with four children, and I had to make them understand why rice would be missing from the menu table this time.
“In place of rice, I promised them a good pot of soup with pounded yam. I can’t see myself buying rice at this time, so l will wait till January or February to buy.
“It’s sad that our government is not empathetic to the average Nigerian family. Though l can afford it, l see it as a waste of resources,” Mrs. Oyinlola told The Nation.
An author, Kennedy Ambrose, said: “I will never buy a bag of rice for N65,000. There are other things for my family to eat, like pounded yams and plantain. But I’ll never bring myself to buying a bag of rice for that amount.”
