Rising food prices, soaring rent, inflation, shrinking purchasing power, and the increasing difficulty of running businesses dominated discussions at a nationwide town hall meeting where ordinary Nigerians shared firsthand accounts of the country's worsening cost-of-living crisis.
The programme, titled "The Briefing Room Town Hall," brought together citizens, entrepreneurs, journalists, policy analysts, and governance experts to examine the true cost of survival in Nigeria amid ongoing economic reforms.
Opening the event, the moderator described the gathering as "a safe space for truth, solutions and accountability," noting that while statistics reveal economic realities, personal stories expose the daily struggles behind the numbers.
"Nigeria happens to people every day in food prices, transport costs, rent, businesses and simply trying to stay alive," the moderator said.
Participants painted a grim picture of life under Nigeria's current economic conditions.
Television producer and journalist Fumi Akishala recounted how her annual rent unexpectedly jumped from ₦1 million to ₦2.5 million, forcing her to take on multiple side jobs simply to meet basic obligations.
According to her, the increase came without negotiations, leaving her with little choice but to remain because relocating would have been even more expensive.
She also lamented the rising cost of fuel, electricity, internet data, estate dues, transportation, and household necessities.
"I have several side hustles, but even with multiple sources of income, survival has become extremely difficult," she said.
Akishala disclosed that she now parks her personal vehicle on many occasions to use public transportation in order to reduce fuel expenses, while family members have also been forced to ration food items such as eggs because of skyrocketing prices.
She admitted regretting turning down opportunities to relocate abroad years ago, saying many of her friends who emigrated are now enjoying better living conditions despite facing their own economic challenges.
An entrepreneur in the construction sector narrated how inflation has made project execution increasingly difficult.
He explained that quotations submitted to clients often become obsolete before contracts are awarded because the prices of cement, building materials, transportation and labour continue to rise almost daily.
According to him, contractors are forced to absorb much of the additional costs since clients are usually unwilling to revise previously agreed contract sums.
He also pointed to higher logistics costs, rising accommodation expenses for workers, expensive bank loans and delayed client payments as additional pressures squeezing business owners.
"We are no longer thinking about growth. Most businesses are simply trying to survive," he said.
Award-winning journalist Dr. Segun Odunayo attributed much of the economic hardship to poorly executed government reforms.
He argued that while policies such as fuel subsidy removal and foreign exchange liberalisation may have been economically necessary, authorities failed to put adequate safety nets in place before implementation.
According to him, over 60 percent of Nigerians are now multidimensionally poor, making the impact of the reforms particularly severe.
"The minimum wage cannot sustain even the most basic lifestyle under current economic realities," he noted.
Entrepreneur and governance advocate Emmanuel Agida argued that weak regulation has worsened the situation.
He cited rising housing costs, excessive agency fees, poor implementation of tenancy laws, and inadequate regulation of markets as factors driving up the cost of living.
Agida maintained that while introducing economic reforms is not necessarily wrong, government must ensure that revenues generated from policies such as subsidy removal are transparently invested in improving citizens' welfare.
He also criticized what he described as policy decisions introduced without adequate planning or implementation strategies.
"We have enough policies on paper. What Nigerians want to see is implementation that positively impacts everyday life," he said.
Real estate executive Kolade Adepoju acknowledged that rental costs have risen sharply across many parts of Lagos but argued that the housing crisis reflects broader structural problems affecting both landlords and tenants.
He expressed doubts over whether recently proposed tenancy regulations would significantly reduce rents without addressing inflation, construction costs, financing challenges and the wider economic environment.
According to him, many developers are equally struggling with higher building costs, making affordable housing increasingly difficult to provide.
Throughout the discussion, participants agreed that while economic reforms may be necessary, Nigerians need practical relief measures to cushion the impact.
They urged governments at all levels to strengthen social protection programmes, improve policy implementation, regulate critical sectors such as housing, support local businesses, create employment opportunities and ensure greater accountability in the use of public funds.
The town hall concluded with calls for continued dialogue between government, businesses and citizens, with participants insisting that tackling Nigeria's cost-of-living crisis requires not only sound economic policies but also effective implementation focused on improving the everyday lives of ordinary Nigerians.
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