The rising costs of fuel and commodities are significantly impacting the spending habits of Nigerians with many becoming increasingly cautious about non-essential expenses and outings.
Citizens interviewed in Lagos and Abuja told the News Agency of Nigeria that although their lifestyles had not changed drastically, the growing awareness of prices was already affecting their spending patterns.
Some said they were still adjusting to the new economic reality, while others warned that deeper adjustments could follow if service costs kept rising.
They said that while the changes were not drastic yet, rising transport fares, food prices, and service costs were influencing daily decisions, from social outings to lifestyle spending.
In Lagos, Onome Favour, a teacher, said the impact is subtle, but noticeable.
“I won’t say I’ve fully cut down on anything yet, but I’ve noticed that things are more expensive now.
“Even going out, once you calculate transportation and food, it’s higher than before, so you just think twice,” she said.
Favour said the adjustment was more mental than physical, as people were becoming more conscious of how they spent rather than completely withdrawing from social life.
A content creator, Yemi Odunsi, who shared similar thoughts, said her routine had not changed significantly, but her spending habits were becoming more deliberate.
“I still go out and do my normal things but now I’m more conscious of how much I’m spending.
“Before, I didn’t really think about it but now I check prices more,” she said.
For some, the shift is more visible during group activities, where friends now discuss budgets before deciding where to go.
Praise Ibe, a software engineer, said outings now involve more planning and price comparisons among friends.
“When we go out now, everybody is more aware of prices.
“You’ll see people asking for cheaper options or suggesting places that are not too expensive.
“It’s not like we’ve stopped going out but we’re adjusting,” he said.
However, some said the rising cost of services had not altered their lifestyle significantly yet.
Osamede Osaruese said he was still maintaining his normal routine in spite of the price increases.
“For now, nothing has really changed for me. Prices have increased, yes, but I’m still doing my normal routine. I think it will take more time before it really affects how I live,” he said.
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Rachel Ogbonna, a virtual assistant, said she observes the situation before making any major lifestyle changes.
“I’ve noticed the increase in prices, especially transport and food but I haven’t made any major changes yet.
“I’m just observing for now,” she said.
Entrepreneurs and business owners said they were already seeing early signs of changing customer behaviour, particularly in discretionary spending.
Abigail Oladimeji, a beauty technician, said some clients now request cheaper services or ask prices before deciding.
“Some customers still come as usual but a few now ask for more affordable styles or ask for prices before deciding what they want to do,” she said.
Mike Ike, a lounge attendant, said customers were becoming more careful with how much they spent on leisure.
“People still come out but you can tell they are more careful.
“Some people spend less than they normally would, especially on drinks,” he said.
In the Federal Capital Territory, rising transport fares are forcing commuters to adjust work patterns while placing increasing strain on households’ incomes.
NAN reports that many fuel stations used to sell fuel between N875 and N880 but now sell between N1,335 and N1, 400.
The increase in the pump price of petrol followed the escalating war between the U.S. and Iran which has lasted for some weeks.
The increase has continued to generate widespread concern among Nigerians, as its effects cut across all sectors of the economy.
According to the residents, the increase in transport fares driven by high fuel prices, is affecting productivity, businesses and family welfare.
Mr Abdul Daniel, a civil servant, said: “I now pay about N1,700 from Dei-Dei to Federal Secretariat, up from N1,000 or N1,200 which we formerly paid.
” Meanwhile, I have noticed that the fares are generally high during peak periods, so I now leave home earlier to avoid peak fares and maintain punctuality at work.
“The way things are going, if care is not taken, I may be forced to cut down on the number of days I go to work in a week “.
Ms Ugochi Ugochukwu, a trader, said fares from Masalachi Junction, Karu, to Finance Bridge had risen from N500 to between N600 and N800.
She said the increase had forced her to cut down on non-essential trips to avoid spending more on just transportation.
Another civil servant, Mr Sony Ugwuata, said that fares from his home in Masaka to his office in Wuse, now ranged between N1,000 and N1,200 during peak hours.
“Off-peak fares, previously N500, now hover around N700, further squeezing commuters’ budgets.
Ms Chidimma Chukwu, who resides in Lokogoma, said she used to spend about N2, 200 to and from work every now but now spends about N3, 200.
Chukwu said:” this increment, although it may seem small, but it is eating deep into other household monthly expenses.
“The worst part of all these is that our monthly salaries are not being reviewed or increased, and nobody is saying anything about it.”
A nurse, Mr Kingsley Jato, lamented that transport fares from lugbe to Area 10, which used to be N700 had increased to between N1,000 and N1,200.
” I have been saving up for a while now to enable me to buy a big Television for my sitting room, so I can comfortably watch football matches at home with my siblings.
” With this recent development, I am beginning to doubt if I can meet up and achieve my goal. The financial pressure keeps mounting, yet solution seems far,” he said.
A resident, Mrs Chimerica Onyema, said she now planed her movements carefully and combined trips to reduce fuel expenses.
She said the fuel increase had forced many workers to rethink commuting habits and many with cars were now forced to carry passengers to augment fuel cost.
Mrs Erica Ekah, a civil servant, said before the fuel increase, she carried passengers from Galadimawa to Secretariat at N700 but had to increase the fare to ₦1,000.
” This morning, I bought fuel at N1, 400 per litre and this made me increase the fare for the passengers to N1, 000 and the passengers paid because they had no choice.
” This rising cost of fuel is making it difficult for Nigerians to balance transportation and other household expenses.
” It is imperative for the government to look into this as a matter of urgency as the situation is no longer convenient for many families,” she said.
A trader in Apo market, Mr Ifeanyi Azubike, said rising fares had reduced customers turnout, affecting daily sales and incomes.
Azubike said that although prices of major household items had not increased much, there was a high probability that they would begin to increase drastically due to high transport fares.
He urged government intervention to ease the burden on commuters and ensure affordable transportation within the city.
An economic expert, Mr Chimezie Okorobia, reiterated the need for immediate government intervention to ameliorate the strain on households.
He urged the government at all levels to ensure policies and programmes targeted at easing the transportation burden on citizens.
NAN
