Monday, April 27, 2026
  • Login
No Result
View All Result
The Business Times
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports
No Result
View All Result
The Business Times
No Result
View All Result
Home Economy

FCT Residents Decry Economic Hardship as Households Slash Consumption

byDooyum Naadzenga
April 26, 2026
in Economy, National
0
FCT Residents Decry Economic Hardship as Households Slash Consumption
4
VIEWS
Share on FacebookShare on Twitter

Many residents of the Federal Capital Territory have continued to groan over the economic hardship presently being experienced in the country, with high transportation and food costs taking a severe toll on household incomes and forcing families to adopt drastic survival strategies. In interviews with the News Agency of Nigeria on Sunday, residents described how the removal of fuel subsidy, currency devaluation, and persistent inflationary pressures have made it increasingly difficult to meet basic needs such as food, rent, school fees, and healthcare.

Mrs Grace Okoro, a civil servant, lamented that her monthly salary is no longer sufficient to cover basic necessities, and that she and her family can no longer afford three square meals daily. Mr Abel Akpan, another civil servant, said the removal of fuel subsidy had made the situation “unbearable,” noting that many public servants are now heavily indebted, with salaries often committed to loan repayments before they are even received. He warned that the overall economic conditions are leading to a loss of morale, high stress levels, and low performance within the public service sector, with implications for government service delivery.

Adigun Lateef, a taxi driver, captured the frustration of many informal sector workers who depend on daily earnings for survival. “E no easy for us as taxi drivers o, because we dey spend money on fuel, instead of food,” he said, adding that many drivers are breadwinners and the reduction in income has led to increased stress and anxiety. He called on the Federal Government to establish support programmes for taxi drivers, including financial assistance and access to affordable alternative fuels like Compressed Natural Gas.

Celestino Odo, Head of Programme and Policy at ActionAid Nigeria, described the economic strain as “widespread misery” that is largely man-made, attributing it to a series of policy decisions including fuel subsidy removal, currency devaluation, and high interest rates. He argued that while subsidy reforms may be necessary, their abrupt implementation without a structured transition plan has worsened economic conditions for vulnerable populations. Odo noted that in many developed economies, including the European Union and the United States, subsidies remain integral to supporting critical sectors such as agriculture and social welfare. He also criticised low budgetary allocation to the agricultural sector, which employs a significant portion of Nigeria’s population and remains critical to food security.

ActionAid official further identified insecurity as a major driver of poverty, noting that the displacement of farmers and rural communities has disrupted agricultural production and worsened food shortages. He called for urgent action to restore security and enable citizens to return to farming activities, while urging policymakers to realign their strategies to alleviate suffering and rebuild public trust. The observations from FCT residents highlight a deepening disconnect between macroeconomic indicators and household welfare, as inflation remains elevated at 15.38 per cent and purchasing power continues to erode.

Tags: ActionAidCivil ServantsEconomic HardshipFCT residentsFood pricesfuel subsidy removalInflationinsecuritypalliative measurestransportation costs
Dooyum Naadzenga

Dooyum Naadzenga

Next Post
TIME Conference 2026 Sparks Urgency: Act Before It’s Late

TIME Conference 2026 Sparks Urgency: Act Before It’s Late

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Dangote Rolls Out ₦739/Litre Petrol at MRS Stations Nationwide

4 months ago
Mining Firm’s Progress in Côte d’Ivoire Drives Investor Confidence

Mining Firm’s Progress in Côte d’Ivoire Drives Investor Confidence

3 months ago

Popular News

  • Ibom Air: Fuel Cost Per Flight Surges from N2.1m to N7.6m

    Ibom Air: Fuel Cost Per Flight Surges from N2.1m to N7.6m

    0 shares
    Share 0 Tweet 0
  • Teen Thiel Fellow Raises $7.3m to Launch Swoop in Lagos

    0 shares
    Share 0 Tweet 0
  • Two-Thirds of Global Hunger Concentrated in 10 Countries, Global Report Finds

    0 shares
    Share 0 Tweet 0
  • TaxStreem Seeks to Automate Tax Compliance for Businesses

    0 shares
    Share 0 Tweet 0
  • Staff Shortage, Long Waits Deepen Crisis in Public Hospitals

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Twitter Instagram TikTok

Newsletter

Pages

  • About Page
  • Contact
  • Privacy Policy
  • Terms & Conditions

Navigation

  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports

© 2025 The Business Times NG .

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • BT Exclusive
  • Economy
  • Business
  • Financial Markets
  • Politics
  • Energy
  • Insights
  • Sports

© 2025 The Business Times NG .