A brand new survey by Comercio Partners has revealed that over 83 p.c of Nigerians are discovering it tougher to afford primary wants like meals, housing, and healthcare in comparison with final yr.
The findings have been offered on Wednesday, July 23, throughout the agency’s 2025 H2 Macroeconomic Outlook in Lagos.
Dr Ifeanyi Ubah, Head of Investment Research at Comercio Partners, described the nation’s {economic} actuality as “a tale of two experiences.”
“Official metrics herald progress: inflation cools, unemployment shrinks, and GDP surges. Yet, the people’s experience, rising costs, stagnant incomes, and elusive opportunities, reveals a stark disparity,” Ubah mentioned.
The report confirmed that 94.3 p.c of respondents have seen an increase within the costs of products and providers, with 72.5 p.c saying the hikes have been vital.
Yet, solely 37.5 p.c reported a rise in wage, whereas 48.2 p.c noticed no change and 14.3 p.c skilled a drop in earnings.
These pressures, the report added, have taken a toll on dwelling situations. “Increased economic pressures have notably impacted the affordability of basic necessities, with 83% indicating greater difficulty in affording food, housing, and healthcare compared to the previous year.”
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There additionally seems to be a rising disconnect between official statistics and public notion.
About 43 p.c of these surveyed mentioned they disagreed with the federal government’s inflation figures, and 69.6 p.c seen authorities coverage as ineffective.
Still, many Nigerians stay hopeful. The report discovered that 64.3 p.c of respondents are optimistic their {financial} state of affairs will enhance within the coming yr.
According to Ubah, the findings paint a grim image. “The survey’s grim insights, food insecurity, financial fragility, and policy disillusionment, suggest that growth, as currently structured, is not a tide lifting all boats but a wave drowning many. For Nigeria to transcend this quagmire and avert immiserising growth, bold action is needed.”
He added that the nation’s future relies on matching official progress with real-world influence.
“Nigeria’s new actuality holds promise, tasks maintain that we might have an financial system of $13 trillion by 2075, however provided that it bridges information and future.
“Without this, statistical triumphs will remain hollow, and growth will immiserize rather than empower, a cautionary tale for a nation at a crossroads.”
