Nigerians Cut Spending, Change Feeding and Turn to Prayers to Weather the Storm

Two in three Nigerians say their economic situation has worsened in the last three month, a poll has found.

NOIPolls which did the survey with Business Day Media said the findings reflected “continued dissatisfaction of Nigerians regarding the state of the economy and their desire for an economic revival.”

A total 83% of people polled said they had been affected by socioeconomic events in the last three months.

Forty-three percent mention hike in prices of goods and services, 18% point to increase in petrol price.

Other are more concerned about increase in transport cost, devaluation and foreign exchange crisis, poor electricity supply, irregular salary payment.

Still others mention increase in electricity tariff, low patronage of business and scarcity of petrol and kerosene.

All occurrences affected 97% of respondents negative.

So how have they coped?

In their words, 37% of people polled said they have “cut down on household expenses and luxury items.”

Sixteen in 100 said they were “enduring the situation and seeking the face of God in prayers.”

One in 10 said they had adjusted family feeding patterns.

A combined 12% of respondents were either “creating alternative sources of income” or purchasing locally manufactured goods.

Four percent returned to subsistence agriculture, and 3% cut down on transport spending.

A combined 4% were “investing in small scale businesses” or depending on family and friends.

But 14 out of 100 said they had “done nothing.”