{"id":817,"date":"2026-07-12T06:52:40","date_gmt":"2026-07-12T05:52:40","guid":{"rendered":"https:\/\/mediaconversation.com\/?p=817"},"modified":"2026-07-12T06:52:41","modified_gmt":"2026-07-12T05:52:41","slug":"rising-inflation-continues-to-pressure-nigerian-households-businesses","status":"publish","type":"post","link":"https:\/\/mediaconversation.com\/?p=817","title":{"rendered":"Rising Inflation Continues to Pressure Nigerian Households, Businesses"},"content":{"rendered":"\n

By Isaac Favour Akenare<\/strong><\/p>\n\n\n\n

Rising inflation and the increasing cost of living continue to place financial pressure on households and businesses across Nigeria, despite projections of improved economic growth in the coming years.<\/p>\n\n\n\n

Nigeria has faced persistent economic challenges in recent years, including inflation, foreign exchange instability, rising public debt and increasing living costs.<\/p>\n\n\n\n

At the recent NUSA Research Seminar in Ibadan, economic experts projected that Nigeria’s Gross Domestic Product (GDP) would grow from 3.92 per cent in 2025 to 4.72 per cent in 2026, driven by ongoing economic reforms, improved government revenue, infrastructure investment and the expansion of non-oil sectors.<\/p>\n\n\n\n

Despite these positive projections, many Nigerians say the economic situation remains difficult.<\/p>\n\n\n\n

READ ALSO:<\/strong> DELSU Students Risk Health Amid Examination Pressure<\/a><\/p>\n\n\n\n

A labour worker, Akinlade, said rising prices have made it increasingly difficult for ordinary citizens to cope with daily expenses.<\/p>\n\n\n\n

“For somebody like me, who is an ordinary Nigerian, the economy is not smiling, every day things become more difficult, and jobs are hard to find,” he said.<\/p>\n\n\n\n

Small business owners also complained that inflation has reduced patronage and increased operating costs.<\/p>\n\n\n\n

A gas retailer, Ovie, said the rising cost of cooking gas has affected his business, as many customers now buy directly from gas plants to reduce expenses.<\/p>\n\n\n\n

READ ALSO:<\/strong> COMMESSA Week Begins With Costume Day, Sports And Social Activities<\/a><\/p>\n\n\n\n

“My business is what I use to feed my family, but higher gas prices have reduced the number of customers who buy from retailers like me,” he said.<\/p>\n\n\n\n

An online trader, Henry, described the rising cost of accommodation as another major burden.”I am paying almost four times the rent I paid three years ago, and it keeps increasing,” he said.<\/p>\n\n\n\n

Civil servants also expressed concern over the declining purchasing power of their salaries.<\/p>\n\n\n\n

A civil servant, Adaeze, said inflation has made it difficult to provide for her family despite earning a regular income.<\/p>\n\n\n\n

READ ALSO:<\/strong> Gas Vendor Accused of Assaulting Fish Pond Worker Over Alleged Theft in Abraka<\/a><\/p>\n\n\n\n

“After receiving my salary, there is hardly enough money to meet my family’s needs before the next payday because prices keep increasing,” she said.<\/p>\n\n\n\n

Students are also not left out on the effects of the rising cost of living.<\/p>\n\n\n\n

A 200 level student of Delta State University, Tega, said increasing expenses for accommodation, transportation and academic materials have made student life more challenging.<\/p>\n\n\n\n

The concerns raised by residents reflect the difficulties many Nigerians say they continue to experience despite official projections of economic improvement.<\/p>\n\n\n\n

READ ALSO:<\/strong> Election Promises Continue to Influence Voting Decisions, Resident Says<\/a><\/p>\n\n\n\n

Meanwhile, Presidential spokesman Bayo Onanuga recently stated during an interview with Arise News that there is “no hardship anywhere in Nigeria,” a comment that generated widespread public debate and mixed reactions among citizens.<\/p>\n\n\n\n

While economic analysts remain optimistic about future growth, many Nigerians say they are looking forward to reforms that will translate into lower living costs, more employment opportunities and an improved standard of living.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

By Isaac Favour Akenare Rising inflation and the increasing cost of living continue to place financial pressure on households and businesses across Nigeria, despite projections of improved economic growth in the coming years. Nigeria has faced persistent economic challenges in recent years, including inflation, foreign exchange instability, rising public debt and increasing living costs. At […]<\/p>\n","protected":false},"author":3,"featured_media":819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"iawp_total_views":12,"footnotes":""},"categories":[16,52,14],"tags":[24,31,25,184,20],"class_list":["post-817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abrakametro","category-politics","category-trendingnews","tag-24","tag-abraka","tag-delsu","tag-presidential-election","tag-tinubu"],"_links":{"self":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=817"}],"version-history":[{"count":2,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/817\/revisions"}],"predecessor-version":[{"id":820,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/817\/revisions\/820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/media\/819"}],"wp:attachment":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}