Teachers and other public servants in Nigeria are finding it difficult to cope with the surging cost of transportation, food and commodity on household items amid ravaging hyperinflation in the country. In the face of surging cost of living without commensurate increases in salaries, many Nigerian teachers are de-motivated because of poor condition of service evident in meagre remuneration. Recently, the price of bread and egg surged to a point where many families consider it a luxury to have on their meal table as the elevated inflation levels continue to erode citizens’ incomes.
According to the National Bureau of Statistics (NBS), headline inflation increased to 32.70 percent in September 2024 from 32.15 percent in August 2024.
It said on Tuesday that the month-on-month inflation rate for September 2024 went up 0.30 percent to 2.52 percent in September.
The major driver of the headline inflation was the petrol price increases, which affected the general price level in the economy. In September, Nigerians experienced an upward review of petrol prices from N597.00 to N855.
00. Some weeks ago, the Nigerian National Petroleum Company increased petrol prices from N950/litre to N998/litre in Lagos and as high as N1,003 in north-eastern states, the second increment in two months as petrol price deregulation took full effect. Consequently, transport fares to and fro workplaces have risen along with food items, while salaries remain the same.
A crate of eggs now sell for N6,000, a.