Someone tweeted recently, “At this point, adulthood is just a subscription I want to cancel.” I laughed. Then I looked at my empty fuel tank, rising electricity bill, and a bag of rice that now costs as much as school fees and my laughter disappeared.
Let’s be honest. The cost of living in Nigeria is hitting hard. From groceries to transportation, rent, mobile data, hospital visits, and even sachet water, prices are climbing fast. It feels like we are all part of a game show where the grand prize is managing to cook stew without breaking the bank.
So, what is really going on?
Inflation is flexing. Nigeria’s inflation rate rose to 24.23 percent in March 2025, up from 23.18 percent in February. Even more alarming, food inflation stood at 21.79 percent in March. That means if you used to spend ten thousand naira on groceries, you now need about twelve thousand to buy the same items, if not more.
And this is not unique to Nigeria. Across the globe, costs are rising. Rent is going up in the United States. Heating bills in the United Kingdom are squeezing families. But in Nigeria, the experience feels more intense. When even instant noodles (the go-to broke-day meal) begin to feel luxurious, you know it is serious.
To make matters worse, salaries are not keeping up. Your paycheck arrives and vanishes before you can even smile at the alert.
So how do we survive this?
– Start by living within your means, not your memes. Social media can make you feel like everyone else is soft living, but behind many of those posts are debts, overdrafts, and financial stress.
– Track your spending. That weekly shawarma? Those spontaneous buys? They add up. Use a budgeting app or write things down the old-fashioned way. Awareness is power.
– Prioritise needs over wants. Ask yourself if you really need that trendy phone or if you are reacting to peer pressure and online hype.
– Save what you can. Even five hundred naira a day makes a difference. Open a FirstBank savings account, set up automatic savings, and let it grow. A rainy-day fund is more essential than ever, because these days, it rains a lot.
– Ignore the pressure to impress. There is no trophy for going broke to look rich. Stay in your lane. Comparison is not only the thief of joy, but also the robber of financial peace.
– Seek guidance. FirstBank offers financial literacy resources that can help you manage your money smarter. Whether you are a student, salary earner, or entrepreneur, getting advice can change your financial outlook.
As our parents used to say, cut your coat according to your cloth. These days, some of us are stitching with handkerchiefs. And that is perfectly okay. Because joy is still possible in a quiet Sunday without generator noise, in laughter shared over cold zobo, in a surprise credit alert, in those rare moments when your bank balance makes you smile.
Yes, the cost of living is high. But with intentional choices, smart savings, and the support of a bank that truly puts you first—like FirstBank—you can still thrive, one wise money move at a time.
References
• National Bureau of Statistics (NBS)
• Reuters: “Nigeria’s annual inflation picks up to 24.23% in March”
• Nairametrics: “Nigeria’s inflation rate eases to 23.71% in April 2025”
