Nigerians want to afford three meals per day 

Since the removal of fuel subsidies by the current administration, Nigerians have been grappling with an unprecedented rise in the cost of goods and services. The soaring prices have placed immense pressure on ordinary citizens, particularly the lower and middle classes, who now struggle to afford basic necessities.

Prior to this shift, the cost of Premium Motor Spirit (PMS) was below N300 per litre. Today, fuel and diesel prices have skyrocketed, ranging between N970 and N1,400 per litre. This surge has triggered ripple effects across all sectors, making staple food items increasingly unaffordable.

While the ruling elite remains largely insulated from this crisis—benefiting from state-funded provisions and shopping abroad—ordinary Nigerians are bearing the brunt. Many political leaders conduct transactions in foreign currencies, further devaluing the naira and exacerbating economic hardship. It is imperative to address these systemic issues and recalibrate economic policies to prioritise national development and public welfare.

Despite the recent restart of the Port Harcourt and Warri refineries, fuel prices remain excessively high. If these facilities are truly operational, why has the pump price not decreased? Is Nigeria short on crude oil, or are vested interests determined to keep the masses in economic suffocation?

In developed nations, while luxury items may be expensive, staple foods remain affordable. In contrast, in Nigeria, essential commodities have seen drastic price hikes. A custard-paint bucket of rice now costs between N8,000 and N10,000, up from N3,500. A similar increase has been observed in garri prices, while transport fares have risen sharply. The continuous depreciation of the naira has further worsened purchasing power.

Nigeria is not inherently poor; mismanagement and policy failures have led to widespread economic distress. The nation must reject the illusion of “technology transfer” and instead focus on developing local technological and industrial capabilities. The government must also harness the potential of informal refining activities, colloquially known as ‘kpo fire’, by formalising and regulating them for legal production.

Economic stability is not rocket science—it requires competent leadership and the right policies. The success of Abia State under Governor Alex Otti exemplifies what can be achieved when governance is approached with sincerity and efficiency. If states can efficiently utilise resources for development, why should the federal government fail?

Meanwhile, the approved N70,000 minimum wage remains grossly inadequate. It cannot even purchase a single bag of rice, highlighting the urgent need for policies to address hyperinflation. The Central Bank of Nigeria (CBN) and the Ministry of Finance must take decisive steps to stabilise the economy.

The naira must regain its value against the dollar, ideally appreciating to N300–N400 per dollar rather than its current dismal rate of N1,700. If smaller African nations can stabilise their economies, Nigeria must strive to do the same. One possible solution is the controlled release of grains from national reserves to ease food shortages.

Additionally, the National Youth Service Corps (NYSC) could be leveraged for large-scale mechanised farming. If structured effectively, this initiative could enhance food security and reduce reliance on expensive imports.

At the core of these discussions is a simple truth: Nigerians want to afford three meals a day, not hear about trillions of naira in annual budgets that fail to translate into tangible relief. The time for decisive action is now—before the nation’s economic crisis spirals further out of control. A stitch in time, as the saying goes, saves nine.