Cost of Living and the 2027 Presidential Poll
Postscript by Waziri Adio Without a doubt, the sustained and steep rise in the cost of living in the last three years will dominate the campaigns for the presidency in
The rising cost of living in Nigeria has become a major issue in the 2027 presidential election campaigns. President Bola Tinubu's administration introduced significant reforms in 2023, including removing petrol subsidies and floating the Naira, which led to a sharp increase in inflation and prices of essential goods like food, medication, transportation, rent, and energy.
While the reforms were necessary to address Nigeria's financial crisis and avert a potential economic collapse, the sudden surge in prices has negatively impacted the living standards of poor and low-income households, who spend a larger portion of their incomes on basic necessities. The government has struggled to provide adequate relief to those affected by the high prices, and small businesses have also suffered due to the increased input costs.
Although the economy has shown signs of improvement, with growing GDP, increased government revenue, and a more moderate inflation rate, many Nigerians remain skeptical that these macro-level gains translate into tangible benefits for the majority of citizens who continue to struggle with basic needs.
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