Edo residents have improvised to cope with the recent economic reforms of the federal government that have resulted in higher prices of goods, transport fares and others in the country.
It should be recalled that in May, President Tinubu announced the removal of subsidy on petrol. That policy was followed by the unification of exchange rates in the country. The resultant effect has led to further hikes in prices of goods, transport fares while some educational institutions have increased their school fees.
With the minimum wage still stagnant, Edo residents have come up with many strategies to survive the current economic situation and these include the reduction of unnecessary trips, buying Aso Ebi only when it is unavoidable, trekking, just as some neighbours are now contributing money to buy foodstuffs in bulk from the rural areas where their prices are relatively cheaper.
Speaking with Ofure John, a retiree on how he is coping with the reforms, he noted that he loves to live within his income. He added that he had slashed down some costs he could do without while some items were substituted with something cheaper.
He also said he does not go about often with his car to cut down the cost of fuel expenses.
“I don’t move about with my car very often because of the increase in fuel price and I also avoid going to places that are not of importance to me. If I want to do something at Ring Road, I wait till I have so many other things to do there before deciding to go and if it is a short distance, I trek”, John said.
However, he advised Nigerians that to be able to survive the economy, they should live according to their means, slashing down unnecessary expenses so as to still maintain a healthy living and also take their eyes off things they don’t need.
Another female resident who refused to disclose her name, condemned the state of the economy, noting that it has not been easy especially for those who have a large family but there is nothing to do than to survive.
“Many homes now eat foods that don’t provide the necessary nutrients as they are only after having something into their stomach” she said.
She called on the government to come up with policies and programmes that will alleviate the suffering of the masses as failure to do this could increase the rate of crimes around the country.
She as well-advised Nigerians to be hardworking, for those who have skills should maximise their full potential. She encouraged mothers who are dependent on their husbands to get up and work so as to support their families. Above all, she encouraged Nigerians to be prayerful at all times.
“Side hustles have proven to be a life saver. This is not the best time to rely on your salary alone or stay idle. Get up and look for other side hustles that can profit you and also assist you in getting some things done. For business owners, you can include PoS business to what you are selling; car owners can make a little change by using it as an Uber. You can as well learn a skill: Thanks to technology, sales can easily be done online, reaching a wider audience and online skills also pays,” Chioma Eze said.
She added, “With the removal of fuel subsidy, transportation has become quite difficult which was what no one was prepared for. So, if you have nothing important to do outside your home, just avoid going out and if it is a short distance, then you trek.”
She advised women that the present moment was not the time for extravagant lifestyles, saying “cut down your cost so that you can still sustain yourself with what the income you are getting either as a salary earner or as a business owner”.
The president of the Federal Republic of Nigeria who at his campaigns before election promised to make life easier for the citizens of Nigeria has done almost the exact opposite since coming into power due to the pains associated with the reforms implemented since assumption of office.
