By Dada Ahmed.
It is no longer news that Nigeria is experiencing double-digit inflation, as glaring indications are there for discerning minds to see and the masses as well as the vulnerable feel the mental anguish of such a serious economic dislocation in the country.
The major concern now is how the various segments of the society, particularly the poor families of the largest black nation in the world are coping with the effects of the stark economic reality staring them in the face, particularly Lokoja residents.
Market analysis shows that Lokoja, capital of the confluence state, tops the list of states of the federation with hyper inflation.
Residents of Angwan Tiv in Lokoja, Kogi State, say they have never seen Mr and Mrs Mohammed quarrel over any issue.
According to them, the couple who have been married for close to 20 years now represents the shining example of a peaceful and stable family in living memory in that community.
“They are not known for any eyebrow, quarrel or exibit any other distabilising expressions capable disturbing peace in their family, wash their dirty linen in public or disturb their neighbours.
“This is to the best of my knowledge as one of their neighbour. We love them and they love us too,Mrs Philomena Adejoh confirms public view about this cherished couple.
The 48-year-old breadwinner of the family, says, it is an abomination for a husband to beat his wife from the culture he comes from in the central Senatorial district of kogi state.
“For near 20 years that we bacame husband and wife, I have never verbally or otherwise, abuse my wife or use any uncomplimentary remark on her, not to talk of raising my hands against her.
“Why should I raise my hands against my wife, she is not only lovely but obedient and dutiful as well as a source of blessing to the family.
” It has been peace upon peace in my marriage affair, my wife and I understand our strengths and weaknesses and we know our limit in the management of our immediate family.
“With God on our side, I can say that it has been so far, so good, even though no family can be perfectly managed,” he makes bold to say with immense thank to almighty Allah.
Concurring with her husband remarks,Amina agreed that her marriage with Mohammed has been fruitful in all respects and to the glory of Almighty Allah.
“May the Almighty Allah be praised for His marvelous hands in our family,” she prayed.
However of recent, the couple say the peace, unity, mutual understanding and respect that bind them together for years and endear them to the heart of their neighbours seem threatened.
They cite the harsh economic reality of the country, caused by double-digit inflation as the major reason.
Mohammed recalled that July 6,2022 remained a day he would not forget in a hurry.
“The day started on a positive note until my wife asked me for money to go to the market and buy food we need to celebrate Sallah.
” I was so confused as to the amount she quoted as cost to buy the consumables she itemised, compared to the amount I gave her for similar event last year.
“When she presented the the cost, I quickly made mental calculation of what the family spent to mark the 2021 Sallah and it was a huge difference.
“Haba, Hajia,why this high bill for this year’s money to buying what we need to celebrate Sallah for just one”, I said talking above my voice.
“In advertently, my hitherto easy talking wife reciprocated in similar vein.
“Why are you asking me this question, don’t you know the situation of things in the market today?”, she responded with disdain.
“At this stage, I felt enraged and we went into exchanging of hot words and almost at the point of hitting each other with any available object we could lay hands on.
“Within minutes, news filtered round the area that the hitherto peace-loving couple were at each other’s throat over economic issue vis a vis sprawling inflation,” Mohammed narrated.
Though some neighbours shot the trouble, leaving the couple to ponder over the unfortunate circumstance, economic analysts believe that the experience of Mohammed family replicates what many couples are passing through in Nigeria on daily basis, as high inflation continues to impact negatively on the masses.
Financial and other ally professionals are quick to note with concern that high prices of goods and services are eroding the value of real wage, leaving the low and middle-income households vulnerable poorer.
They argue that the purchasing capacity of many couples has becomes increasingly weak to cope with the effects of inflation in the task of feeding family,
They identify eye brow among other negative developments as some of the factors responsible for things falling apart and the centre no longer hold in many families as families angrily to the dictate of inflationary challenges in the country.
Finding in various courts in Lokoja and its environs revealed that many wives have cause to seek divorce on account of their husbands not been able to cater for the family any more due to high inflation.
The National Bureau of Statistics,(NBS),the organization charged with the responsibility of coordinating the development and management of official statistics in all the Federal Ministries, Departments and Agencies, State Governments Statistical Agencies and Local Government Councils.is explicit about inflationary trend in Nigeria.
According to NBS, reported by Vanguard newspaper of June 15,2022,Nigeria’s inflation rate increases to 17.71% in May 2022 on a year-on-year basis in its Consumer Price Index(CPI) and Inflation Report of May 2022 released in Abuja.
The CPI measures the average change over time in the prices of goods and services consumed by people for day-to-day living, which translates to the inflation rate.
The report says the figure ” is 0.22 per cent points lower, compared to the rate recorded in May 2021, which is 17.93 per cent.
“This means that the headline inflation rate slowed down in May 2022 when compared to the same month in the previous year.
“Increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the Headline index.”
The report further that on a month-on-month basis, the headline inflation rate increased to 1.78 per cent in May 2022, this is also 0.02 per cent higher than the rate recorded in April 2022 at 1.76 per cent.
“The percentage change in the average composite CPI for the 12 months period ending May 2022 over the average of the CPI for the previous 12 months period is 16.45 per cent.”
“This shows a 0.95 per cent increase compared to the 15.50 per cent recorded in May 2021,”it further revealed.
The report said that the urban inflation rate increased to 18.24 per cent on a year-on-year basis in the same month.
According to the report, this is a 0.27 per cent decline, compared to 18.51 per cent recorded in May 2021.
It said that on a month-on-month basis, the urban inflation rate rose to 1.81 per cent in May 2022, representing a 0.03 per cent increase, compared to April 2022 at 1.78 per cent.
The report said the corresponding 12-month average percentage change for the urban index is 17.00 per cent in May 2022.
“This is 0.91 per cent higher, compared to 16.09 per cent reported in May 2021. ”
The report showed that the rural inflation rate increased to 17.21 per cent in May 2022 on a year-on-year basis.
According to the report, this is a 0.15 per cent decline, compared to 17.36 per cent recorded in May 2021.
The report said on a month-on-month basis, the rural index rose to 1.76 per cent in May 2022, up by 0.02 per cent from the rate recorded in April 2022 at 1.74 per cent.
“The corresponding 12-month average percentage change for the rural inflation rate in May 2022 is 15.91 per cent.
“This is 0.97 per cent higher, compared to 14.94 per cent recorded in May 2021.”
According to trading economics.com, located in New City, New York, United States,qouting NBS, said Nigeria’s annual inflation rate accelerated for the fourth month to 17.71 per cent in May of 2022 from 16.82 per cent in the previous month and above market expectations of 17.4 per cent.
The social platform described the development as the steepest inflation rate since last June, driven by prices of food (19.5 per cent vs 18.37 per cent in April) and non-food products (14.9 per cent vs 14.18 per cent).
It noted that like most African countries, Nigeria is grappling with rising prices of food, adding that “the continent is still largely dependent on agricultural imports, especially grains. ”
The organization further noted that soaring diesel prices and the ongoing dollar shortage contributed to the upward trend in inflation of the country.
In all this, Nigerian masses say they are not finding life easy coping with high cost of living in all ramifications.
Economic experts are, however, certain that lasting solution to current high inflation in Nigeria lies in the country purging itself of the brazen corruption by many of its citizens, a development that has eaten deep into the social and economic fabrics of nation.
They also urge that Nigerians, most especially the elite,politicians and technicrats who control the economic life wire of the nation, need to check their high taste for foreign goods and services.
This, they believe, will go along way to make Nigeria a producing nation rather than consuming entity.
Shubham Chaudhuri, the World Bank Country Director for Nigeria. notes that” Nigeria faces interlinked challenges in relation to inflation, limited job opportunities and insecurity.”
He explained that while the government made efforts to reduce the effect of inflationary challenges,”by advancing long-delayed policy reforms, it is clear that these reforms will have to be sustained and deepened for Nigeria to realize its development potential.”
Chipping in, the Nigeria Development Update (NDU), a World Bank report series, produced twice a year, proposed near-term policy option organized around three priority objectives:
“Reduce inflation by implementing policies that support macroeconomic stability, inclusive growth, and job creation;
“Protect poor households from the impacts of inflation and;
“Facilitate access to financing for small and medium enterprises in key sectors to mitigate the effects of inflation and accelerate the recovery.
“Given the urgency to reduce inflation amidst the pandemic, a policy consensus and expedite reform implementation on exchange-rate management, monetary policy, trade policy, fiscal policy, and social protection would help save lives, protect livelihoods, and ensure a faster and sustained recovery,” NDU further suggested.
Social and economic analysts, therefore, stress the need for couples to be focused on the essence of marriage which emphases “for better for worse”, irrespective of circumstances they may be going through.
Working class couples,Mr Abdulazeez Alli;a civil servant urged, should diversify their income by engaging in other auxillary but legitimate income earning ventures to augment salary.
Those not employed in public sector should make sure they engage in viable socio-economic activities that will put food on their table and avail them financial resources to carry family and other societal commitments for the general of the larger society.
This, they assured, would put wranglings in the family at Bay and ensure that peace continues to reign supreme.
Dada Ahmed is a publisher.
ahmeddada008@gmail.com.
