The Plight of Nigerians: A Nation Struggling to Breathe
The average Nigerian wakes up every day to news that shatters dreams, deepens suffering, and threatens survival. In a country already battling with economic instability, the recent policy changes have further tightened the noose around the necks of struggling citizens.
MTN’s recent hike in data tariffs, with 15GB now costing a whopping N6000, is just one of the many blows. The same telecommunication giant has also increased call tariffs, making communication a basic necessity more expensive. For a country where internet access is vital for both education and business, this move is a dagger to the heart of productivity and accessibility.
As if that is not enough the Nigeria Customs Service has imposed an additional 4% administrative charge on the Free on Board (FOB) value of imports. This extra levy coupled with the Nigerian Ports Authority’s (NPA) 15% increase in port charges, means higher costs for goods entering the country. Imported cargo is now more likely to be diverted to neighboring countries, exacerbating the already dire supply chain crisis. The result? Nigerians should brace for another inflationary storm.
The Central Bank of Nigeria (CBN) has also joined the trend of burdening the masses. Effective March 1, 2025, Nigerians will pay more to withdraw their own money. Off-site ATMs will attract a N100 charge plus a surcharge of up to N500 per N20,000 withdrawal, while on-site ATM withdrawals will cost N100 per N20,000. With cash still a necessity for many transactions, this move will further drain the pockets of the common man.
The Implications: A Bleak Future for Nigerians
- More Inflation: As costs of imports and services skyrocket, the prices of everyday essentials will continue to rise, making basic needs increasingly unaffordable.
- Blow to Human Development Index (HDI): The rising cost of living, coupled with limited access to essential services, will negatively impact health, education, and overall well-being.
- Ease of Doing Business Defeated: SMEs and startups, already struggling under the weight of inconsistent policies, will find it even harder to survive.
- Pandemic of Empty Pockets: With rising costs and stagnant wages, Nigerians will have less purchasing power, leading to a lower quality of life.
- More Nigerians in Multidimensional Poverty: Already, millions live in poverty. These hikes will push even more into the depths of hardship.
- Diversion of Imports: With increased port charges, businesses may resort to importing goods through neighboring countries, leading to revenue losses for Nigeria and potential job losses for port workers.
The Call for Change
Nigerians deserve policies that support, not suffocate them. These relentless tariff hikes and levies are making life unbearable for the common man. The government must rethink these policies and focus on creating an enabling environment for businesses and individuals to thrive.
If urgent measures are not taken, the Nigeria’s economic crisis will deepen and the majority will be left gasping for air in a system that has failed them.
It’s time to prioritize the wellbeing of Nigerians over excessive taxation. The people are struggling who will listen to their cries?
