In the town of Anyigba, Kogi State, the high rate of inflation has become a harsh reality that families and the community at large are finding hard to adapt, eating three square meals is now a difficult thing to achieve. The once-manageable cost of living has skyrocketed, leaving many struggling to make ends meet. In 2022 the inflation rate was 18.85%, a 1.89% increase from 2021, the inflation is out of hands as we speak, in April 2024 the headline inflation rate rose to 33.69% up from 33.20% in March 2024, making an increase of 0.49% points according to the Nigeria bureau of statistics (NBS).
Mrs Ugbedeojo, a worried mother of three (3) lamented that, the rising cost of food, housing, transportation and others has forced her to make difficult choices. “I now have to choose between buying of food or paying my children’s school fees on time” she said in a worry voice. Every commodity has doubled its price whereas salaries of workers remains stagnant, salaries of most workers has not been increased in the past four (4) years, these salaries of which we speak of can barely provide the needs of a family for a week. Civil servants’ salary can barely feed a family let alone pay rent.
The inflation rate has also affected local businesses, with many struggling to stay afloat. Mr Ibrahim a shop owner at Anyigba market cried out about the rise in prices of goods and services ” i used to sell a bag of rice for forty-four thousand Naira (44,000) but now it cost eighty thousand Naira (80,000)” it’s hard to maintain customers when prices keep increasing. The consequences of inflation are far-reaching, with the Anyigba community feeling the impact. The reduced purchasing power of consumers has resulted in reduced sales for local businesses, leading to decreased profitability. This, in turn, has led to reduced investment, reduced employment opportunities, and a decline in economic growth. Inflation has also eroded the purchasing power of the Naira, making it difficult for residents to afford essential goods and services. The standard of living has decreased, and the community is feeling the strain. The negative impact of inflation on the Anyigba community is palpable, with many struggling to make ends meet.
Most at times i wonder how the students of Anyigba university cope, considering the fact that they are on their own, no parents nor guardians to help them. A university student like faith, a second year student the inflation rate has meant a significant reduction in her disposable income ” i used to budget fifteen thousand Naira per month, but now i need at least eighty thousand Naira to cover same expenses ” she lamented. Faith’s situation is not unique, as many students are forced to sleep on empty stomach, some rely on part time job to supplement their income, how then will such a student do well academically?
The community wonders if the inflation rate is ” more ” in Anyigba compared to other places. The residents of Anyigba expressing frustration and concern about the future, the Local Government and those in high government positions should come to their aid by implementing measures to mitigate the effects of inflation. As the inflation rate continues to soar, the people of Anyigba are left to wonder when relief will come. For now, they are forced to adapt to a harsh new reality, where the value of money(Naira) seems to shrink by the day.
– Deekaa Ngwemo Rosemary
PAAU, Anyigba.
