NIGER HARDSHIP SINCE 2015

Since 2015, Nigeria has faced increasing hardship, particularly worsening economic conditions marked by high inflation, rising food prices, and a significant drop in purchasing power. The situation has intensified since President Bola Ahmed Tinubu's administration began in 2023, with policies leading to soaring fuel prices and a cost of living crisis affecting.

Overview of Economic Hardship in Nigeria Since 2015

Economic Indicators:

Year	Inflation Rate	Fuel Price (Naira per Litre)	Minimum Wage (Naira)	Poverty Rate (Estimated)
2015	9.0%	87	18,000	33%
2016	15.7%	145	18,000	33%
2017	16.5%	145	18,000	33%
2018	11.3%	145	18,000	40%
2019	11.0%	145	30,000	40%
2020	13.2%	162	30,000	40%
2021	16.9%	165	30,000	40%
2022	19.6%	165	30,000	40%
2023	22.04%	600-700	30,000	40%
2024	34.19%	600-700	30,000	40%

Key Factors Contributing to Hardship

• Economic Reforms: The removal of fuel subsidies in 2023 led to a significant increase in fuel prices, which tripled within months.

• Inflation: Inflation rates have surged, reaching over 34% in 2024, with food inflation exceeding 40%. This has drastically reduced purchasing power.

• Stagnant Wages: The minimum wage has not increased since 2019, remaining at 30,000 Naira, which is insufficient against rising living costs.

• Poverty Increase: An estimated 4 million Nigerians fell into poverty in early 2023, with millions more at risk due to economic mismanagement.

Social Impact

• Protests: Widespread protests have occurred, reflecting public anger over economic conditions and government policies.

• Living Conditions: Many families are struggling to afford basic necessities, leading to increased food insecurity and reliance on cheaper, less nutritious food options.

The economic situation in Nigeria has worsened significantly since 2015, driven by policy decisions and external factors, leading to increased hardship for the population.