Nigeria is currently home to the lowest cost of living in Africa, as per Numbeo, the online cost-of-living database.
This data, however, has raised eyebrows among many Nigerians who are currently dealing with record inflation and a weakened currency.
Despite the economic challenges facing the country, Numbeo insists that Nigeria still maintains the lowest cost of living on the continent.
Many Nigerians are finding it difficult to reconcile this assertion with the reality of their daily lives, as the cost of goods and services continue to rise at an alarming rate due to inflation and a weakened currency.
In recent years, Nigeria has faced significant economic struggles, including high levels of unemployment, poverty, and a struggling manufacturing sector. The country’s currency, the naira, has also been devalued multiple times, further exacerbating the financial difficulties faced by many Nigerians.
Critics argue that while the presidency’s claim of Nigeria having the lowest cost of living in Africa may have been true in the past, it no longer reflects the current economic reality. They point to the rising prices of essential goods and the struggles of many citizens to make ends meet as evidence that the cost of living in Nigeria is far from low.
Despite the disparity between the presidency’s statement and the lived experiences of many Nigerians, the government has reiterated its commitment to improving the country’s economic situation and addressing the challenges facing its citizens.
However, it remains to be seen whether these efforts will be enough to bring about meaningful change for the people of Nigeria.
