It is no longer news that when confronted with harsh socioeconomic conditions, Nigerians frequently resort to desperate means to mitigate the consequences.
It’s no surprise that after President Bola Tinubu announced the end of the petrol subsidy at his inaugural speech on May 29, 2023, and the recent increase in the price of petrol, Nigerians have found measures to mitigate the consequences.
For many years, the Nigerian government subsidized the price of petroleum products, particularly gasoline and kerosene, in order to relieve consumers of the burden of excessive expenditures.
Previously, the withdrawal of subsidies was frequently received with popular fury and vigorous opposition because it would result in higher fuel prices for customers, which finally led to protests and demonstrations.
However, President Tinubu claimed during his inaugural statement that “fuel subsidy is finally gone” since it (subsidy) could no longer justify its ever-increasing expenditures.
He said; “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions.”
Below are 10 things Nigerians are doing to survive the hardships imposed by subsidy removal.
1. Menial jobs/entrepreneurship
Since commodity prices have more than doubled and income has barely grown, many Nigerians are starting menial jobs and developing small-scale companies to supplement their families’ income. This could include street vending, handmade goods, or the start-up of a small business.
2. Farming
Agriculture, without a doubt, plays a big role in the Nigerian economy, which is why, during difficult times, many people resort to subsistence farming to meet their fundamental necessities. Some agricultural produce may be sold to supplement income, bartered, or used as an alternate source of food for the family.
3. Seek family support
Seeking family help in times of great need is usually one of the most realistic solutions for most Nigerians in order to alleviate the suffering they face. This sense of belonging helps to reduce some of their financial difficulties.
4. Seek spiritual support
The Archbishop of Lagos, Adewale Martins, revealed in an interview in 2016 that the economic downturn has had a significant impact on the church. According to him, many persons who came to parish offices to visit priests did so with the goal of seeking some kind of assistance. In recent years, Nigerians have began to seek financial assistance from the many churches to which they belong.
5. Barter
Prior to civilisation, exchanging goods and services was a way to obtain necessities without having to use cash. This practice has increasingly returned to society as Nigerians make desperate efforts to survive in the face of mounting adversity.
6. Thrift contribution
Though thrift contribution has existed previously, due to current economic realities, more people have begun to participate in informal savings groups or cooperative societies where members pool their money and take turns receiving lump sums, assisting them in addressing financial needs, among other things.
7. Adaptation
As previously stated, Nigerians frequently display resilience by adapting to changing circumstances and being adaptable in their attitude to growing economic realities, which ultimately result in untold pain.
8. Self-development
As tough as it may appear, during difficult times, some people invest in education and skill development to boost their employability or create new chances for themselves. This is one approach that many Nigerians have used recently to increase their income.
9. Religious and community support
During difficult circumstances, religion and community involvement can provide psychological and emotional support, as well as hope and a sense of connection. This is also one of the activities that Nigerians are currently engaged in to help alleviate the hardships.
10. Government palliative
Nigerians make use of any sort of palliative the government provides as temporary aid for people in need while it is available. Tinubu’s planned N8,000 palliative for 12 million underprivileged families has sparked a mixed reaction. Nigerians, on the other hand, are optimistic.
It’s crucial to remember that each person’s circumstances are unique, and the tactics they use to cope with adversity might differ greatly. The above items are general generalizations based on the Nigerian setting, and not every Nigerian will employ all of these methods at the same time.
