by Olivia Ayonote (SS2)

CONFRONTING THE HIGH COST OF LIVINGIN NIGERIA

The high cost of living in Nigeria is a growing concern for many residents, with the
daily struggle to keep up with the rapidly increasing prices of essential goods and
services. This situation calls for urgent action from the government to ease the burden
on households. This article examines some strategies that can help tackle the problem
and provide much-needed relief to the public.

Housing costs form a significant part of a family’s budget, reaching unsustainable
levels in many cities. The government can play a crucial role in addressing this issue by
implementing policies that promote affordable housing. This could include providing
incentives for affordable housing development, enforcing rent control and
stabilization, and investing in public housing projects.

Additionally, investments in education and welfare are another strategy to reduce
living costs in the country. Skyrocketing tuition fees and healthcare expenses can
place a significant strain on family budgets, making it difficult for individuals to pursue
higher education or obtain necessary medical treatments. To address this issue, the
government should prioritize investments in education and healthcare facilities and
infrastructure, while also exploring ways to reduce the financial burden on students
and patients. This can be achieved through expanding scholarship programs,
increasing funding for public schools and universities, and implementing universal
healthcare initiatives.

By investing in these areas, the government can help alleviate financial pressure on
households and improve the overall quality of citizens’ lives.
In conclusion, the high cost of living poses a major challenge for citizens across the
nation, but it is not an insurmountable one. The government can take meaningful steps
to alleviate financial burdens and improve living standards for all its citizens. The
strategies mentioned are just a few ways of addressing this major issue. It is crucial
for policymakers to prioritize these measures and work towards creating a more
affordable and equitable society for all