Corps members to cut down on spending

Nigeria’s average cost of living has more than doubled, as prices of all items continue to climb.

To survive the current cost of living crisis, corps members are cutting down on spending and buying less essential items.

BusinessDay interviewed some corps members who shared their experiences on how they are coping with the constant surge in prices. Below are some of the responses.

Victoria Shorunmu

Shorunmu is a corps member in Ibadan, Oyo State.

How are you coping with the rise in food prices and what are you buying less of?

It has been difficult recently. Things that used to be easily accessible and cheap have become too expensive for me to buy. I’ve had to search for a cheaper alternative for some of the food items I used to buy. I’ve become an individual who doesn’t buy meat as much as before, fish is the way forward even though the price of fish has also increased. I also rarely buy plantain because of how expensive it has become recently.

What are you forgoing due to the cost-of-living crisis?

I’ve cut down on how I use my generators because of the price of fuel. I’ve also had to reduce the food I eat in order for the food items to last longer in the house.

How easy is it for you to move around?

I wouldn’t say it has been easy but I would say it has made me much more patient in terms of dealing with certain individuals. I don’t like the idea of going out because I know how much money I’ll spend on transportation and that’s clearly not worth the money. I only go out when it is essential for me.

Has your income increased in the last year?

No, it hasn’t and that is because every youth corps member gets the same amount of money each month for an entire year.

What are your fears if the economy continues like this?

The middle class is about to become non-existent in Nigeria just because the economy is only benefitting the extremely rich while making the middle class turn to the lower class and the lower class remains buried in the lower class. Life expectancy will decrease if the economy continues to deteriorate and many Nigerians will be more motivated to leave the country for greener pastures which will only make Nigeria even worse.

Mogbolu Nesochi

Nesochi is a serving corper in Abuja. He is also a part-time photographer and sells ice blocks as a side hustle.

How are you coping with the rise in food prices and what are you buying less of?

I do the best I can do. For me, the cost of food has made me enjoy eating healthy. I drink more water and little fruits here and there.

What do you have to forgo as the cost-of-living crisis intensifies?

Snacks, and other luxury food. Living in Nigeria isn’t about luxury right now, it’s about survival. Some basic comfort like air conditioning, both in the car and at home because paying for units at home is becoming more difficult and the price of fuel has shot up against a stagnant salary structure. It is really unfair.

How easy is it for you to move around?

Not easy at all. I only go to places that are of extreme importance to me, mostly work and church and I have had to cut down on social visits which I have realised is affecting my relationships.

Man is a social being and as much as we have social media (cost of data still on the increase), physical interaction is still of great importance and might I add, irreplaceable.

Has your income increased in the last year?

Well, since last year, my income has not increased.

What are your fears if the economy continues like this?

Well, man must survive and considering the popular saying that a hungry man is an angry man, my fear is a great increase in criminal activities. The mind can be very creative when it is forced to provide a means of survival. You think there is crime in Nigeria now? Let the economy go on like this for another two years, you may not be able to step out without special morning prayers.