By Zainab Nasreen Muhammad When one speaks to Nigerians these days, the high cost of living is an unavoidable topic. The unbelievable increase in the..
. By . By Zainab Nasreen Muhammad When one speaks to Nigerians these days, the high cost of living is an unavoidable topic.
The unbelievable increase in the prices of things – and in such a short period – is something that most of us did not see coming. We now reminisce about the good old days not too long ago – they were just last year, and maybe the year before. The National Bureau of Statistics (NBS) reported that inflation rose to 34.
2 percent in June 2024 from 22.8 percent in June 2023. Even food has somewhat become a luxury; as of January 2024, the NBS reported a 98.
47% increase in the cost of 1kg of rice in just one year. The average price of 1kg of beef increased by 37.08%, and for 1kg of beans, there was a 64.
42% increase. According to the World Bank, about 40.7 percent of Nigerians live below the international poverty line of 2.
15 dollars (about 3,400 naira) per day. Due to this economic situation which seems to keep worsening, Nigeria is facing an unprecedented malnutrition crisis with the north suffering the worst of it. Simply put, malnutrition – specifically undernutrition – is a serious health condition that develops when one does not have enough nutrients to meet their body’s needs.
According to the World Food Program (WFP), 4.4 million Nigerian children under the age of five suffer from severe acute.