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How To Cope With Inflation In Nigeria - Business - Nairaland

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How Do You Cope With This Much Charges From The Bank / Food Inflation In Nigeria Rises To 17.38% As Inflation Rate Jumps To 14.23% / How To Live With Inflation (2) (3) (4)

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How To Cope With Inflation In Nigeria by Odewaleadesoye(m): 11:54am On Feb 19
Inflation is a harsh reality that affects us all in one way or another. In Nigeria, it has become even more of a pressing issue in recent times, with prices of food, fuel, and services skyrocketing at an alarming rate.

Here’s what you can do to cope with the current inflationary period in Nigeria:


1. BUDGET WISELY
The first step to coping with inflation is to create a budget and stick to it. With prices on the rise, it’s more important than ever to plan your expenses carefully. This means making a list of your necessary expenses and cutting back on non-essential items.

2. SHOP AROUND FOR THE BEST DEALS
When prices are on the rise, it’s crucial to shop around for the best deals. Don’t settle for the first price you see on an item; take the time to compare prices from different vendors. You may be surprised at the price differences you can find.

3. INVEST TO PROTECT THE VALUE OF YOUR MONEY
If you’re looking for a way to protect your money from inflation, consider your options for safe investments in Nigeria, like , for example. Investment products are less likely to be affected by inflation and can provide a steady source of income. Invest in government bonds, fixed deposits, and mutual funds.

4. CONSIDER STARTING A SIDE HUSTLE
With prices rising, it can be challenging to make ends meet on a single income. Consider starting a side hustle to bring in some extra cash. This could be anything from freelancing to selling goods online.

5. CUT BACK ON UNNECESSARY EXPENSES
Inflation is a good time to re-evaluate your spending habits. Cut back on unnecessary expenses such as eating out, buying luxury items, and subscriptions you don’t need. This will help you save more money and stretch your budget further.

6. LOOK FOR WAYS TO INCREASE YOUR INCOME
One of the most effective ways to cope with inflation in Nigeria is to increase your income. Look for ways to earn more money, such as asking for a raise at work, starting a business, or taking on extra work.

7. SAVE FOR THE RAINY DAY
Inflation can be unpredictable, and it’s always best to be prepared for the worst. Make sure you have an emergency fund that can cover your expenses for at least three months. This will give you some peace of mind in case of any unforeseen circumstances.

In conclusion, coping with inflation in Nigeria can be challenging, but it’s not impossible. By budgeting wisely, shopping around for the best deals, investing, starting a side hustle, cutting back on unnecessary expenses, increasing your income, and saving for a rainy day, you can weather the storm and come out on top.

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Re: How To Cope With Inflation In Nigeria by Odewaleadesoye(m): 11:55am On Feb 19
"If you buy what you don’t need, you steal from yourself".
– Swedish

This is a great saying that you don’t hear enough, because it’s absolutely true. When you buy something you don’t need today, it’s the future you that will suffer. Or, to put it another way, spending money on today’s wants means you might not be able to afford tomorrow’s needs.

Even if you feel financially secure right now, that might not last forever, so you should still be cautious with your money.

5 Likes 1 Share

Re: How To Cope With Inflation In Nigeria by Ogiame: 12:01pm On Feb 19
Threads like this will keep making people to endure suffering and hardship..... We've been coping for too long.


During the Apartheid period, South Africans launched their own Enough Is Enough campaign, and things have been going well for them.

Let's stop bending like crayfish to every horrible predicament that one power-hungry E-diot thrusts us into.

The "E go beta" period has come to an end.

Nor go adjust enter grave.

38 Likes 2 Shares

Re: How To Cope With Inflation In Nigeria by Anyways: 12:05pm On Feb 19
Beautiful write up.
Thanks for Nigeria.

1 Like

Re: How To Cope With Inflation In Nigeria by NairalandProf(m): 12:08pm On Feb 19
Well, I do believe that this country will be better one day but it is becoming so difficult to know when the one day will come through
In as much as it is good and advisable to save for the future, the question is how will someone who is yet to eat be able to save
but thanks Mr. green as this post is impactful

4 Likes 1 Share

Re: How To Cope With Inflation In Nigeria by NairalandProf(m): 12:08pm On Feb 19
Re: How To Cope With Inflation In Nigeria by Anniversary: 12:10pm On Feb 19
Hmmmmmmmmmmmmmmm.
Mr. Green sha. I never chop you say make I save. How?

3 Likes

Re: How To Cope With Inflation In Nigeria by ManOfGreatness: 12:11pm On Feb 19
Anniversary:
Hmmmmmmmmmmmmmmm.
Mr. Green sha. I never chop you say make I save. How?
grin grin grin grin grin
Re: How To Cope With Inflation In Nigeria by Greatness21(m): 12:12pm On Feb 19
Ogiame:
Threads like this will keep making people to endure suffering and hardship..... We've been coping for too long.


During the Apartheid period, South Africans launched their own Enough Is Enough campaign, and things have been going well for them.

Let's stop bending like crawfish to every horrible predicament that one power-hungry E-diot thrusts us into.

The "E go beta" period has come to an end.

Nor go adjust enter grave.
A lot of sense

4 Likes

Re: How To Cope With Inflation In Nigeria by ManOfGreatness: 12:13pm On Feb 19
Ogiame:
Threads like this will keep making people to endure suffering and hardship..... We've been coping for too long.


During the Apartheid period, South Africans launched their own Enough Is Enough campaign, and things have been going well for them.

Let's stop bending like crawfish to every horrible predicament that one power-hungry E-diot thrusts us into.

The "E go beta" period has come to an end.

Nor go adjust enter grave.
i dey tell you brother but the thing is who will start the protest
what can we do to make the govt hear us because we are all tired but i think the post by op is good for those who have money sha

5 Likes

Re: How To Cope With Inflation In Nigeria by Showing: 12:18pm On Feb 19
Tinubu has destroyed Nigeria totally

1 Like

Re: How To Cope With Inflation In Nigeria by NaijaCover(m): 12:41pm On Feb 19
Nice one

1 Like 1 Share

Re: How To Cope With Inflation In Nigeria by Epstein(m): 5:36pm On Feb 19
grin

Tinflation......
Re: How To Cope With Inflation In Nigeria by Skillsnigeria: 5:36pm On Feb 19
Noted
Re: How To Cope With Inflation In Nigeria by seanwilliam(m): 5:37pm On Feb 19
I know the answer but no be my mouth u na go hear am. The next person fit get mind talk am grin

1 Like

Re: How To Cope With Inflation In Nigeria by MANNABBQGRILLS: 5:37pm On Feb 19
Good thread.

There is no joy in seeing the people of this nation shoulder burdens that should have been shed years ago. I wish today’s difficulties did not exist. But we must endure if we are to reach the good side of our future,” - President of the Federal Republic of Nigeria Bola A Tinubu

#HaveFaithinHim
#NigeriaisinGreatHands
#OurGenerationwillYieldthefruitsofthishardship
#IStandwithOurPresident
#RenewedHope
#NigeriaismyHome

2 Likes 3 Shares

Re: How To Cope With Inflation In Nigeria by MANNABBQGRILLS: 5:37pm On Feb 19
GOD BLESS NIGERIA 🇳🇬

We will get there pretty soon ......

Meanwhile,
Dearest Sane Nairaland members,
Sisi Yewande and Madam Ngo on behalf of All of us at MANNABBQGRlLLS are checking on you.

Times are hard
It is for the best future for us all.
No pain No Gain.
Guide your mental health.
Cut down on excesses and frivolity.
Keep joining us to pray for a better Nigeria 🇳🇬.
Slow and Steady we will get to the nation flowing with milk and honey.
A country of our dreams.
God bless you all.
God bless Nigeria 🇳🇬 🇳🇬 🇳🇬

We Love You all ❤️ 😍 💖


Addendum : Enemies of Nigeria, (No matter the part of the country you came from)
Skip this comment, it ain't for you.
Check the first line to see who it was addressed to.
If you do otherwise and quote to be negative or curse sane people here you will be miserable for life.
#No be curse,
Na FACT.
Thanks and Cheers.

2 Likes 3 Shares

Re: How To Cope With Inflation In Nigeria by Alexlalax1(m): 5:37pm On Feb 19
Oga, all you wrote na bull crap if you are not an agbadorian. We exchange $1 to #1500+. They exchange $1 to 1k. We buy a litter of fuel for #600+, they buy for #150+. Become an agbadorian and you will start enjoying sef not only coping. Una never see anything yet, this is just the beginning
Re: How To Cope With Inflation In Nigeria by kennyz247(m): 5:37pm On Feb 19
Daily fasting and prayer, cause Mr tinubu is clueless about Nigeria..best solution
Re: How To Cope With Inflation In Nigeria by madfind: 5:38pm On Feb 19
Na so una go cope till una commit suicide, i serious hate being called a Nigerian right now, this one come una cope that one come una cope, shey until una begin cope under bridge una start to use una head

6 Likes

Re: How To Cope With Inflation In Nigeria by specialmati(m): 5:38pm On Feb 19
grin grin grin grin grin grin grin grin looking forward for post on how to avoid voting criminals.

1 Like

Re: How To Cope With Inflation In Nigeria by SapaProMax: 5:38pm On Feb 19
Earn or Steal Dollars

1 Like

Re: How To Cope With Inflation In Nigeria by Okpokpo09: 5:39pm On Feb 19
Please help my family to feed we’re dying of hunger. No money no food to eat please Nigerians help us. I’m from Osun state we’ve been starving for 3 days now we need help please please help before we die kpatakpata
Re: How To Cope With Inflation In Nigeria by MrPOTUS: 5:39pm On Feb 19
Mumu post.

Nigerians always look for ways to adjust to hardship and suffering.

No wonder they tag you suffering and smiling.


If you do all d crap written and adjust, then dollar hits 5k and petrol hits #2,500/litre.

What will u do?

Do more side hustles?

Do more strict budgeting?

Deprive yourself of the good things of life or things you enjoy?


I wonder why God brought me to country with this kind of people undecided

Instead of them to enmasse against their useless leaders, they're looking for ways to adjust to what was thrown at them.

Very docile people, tueh!

2 Likes

Re: How To Cope With Inflation In Nigeria by merits(m): 5:40pm On Feb 19
Odewaleadesoye:
Inflation is a harsh reality that affects us all in one way or another. In Nigeria, it has become even more of a pressing issue in recent times, with prices of food, fuel, and services skyrocketing at an alarming rate.

Here’s what you can do to cope with the current inflationary period in Nigeria:




In conclusion, coping with inflation in Nigeria can be challenging, but it’s not impossible. By budgeting wisely, shopping around for the best deals, investing, starting a side hustle, cutting back on unnecessary expenses, increasing your income, and saving for a rainy day, you can weather the storm and come out on top.

How is all this possible with 30k as minimum wage.just for two bags of cement.

Na person wey chop belle full dey invest

1 Like

Re: How To Cope With Inflation In Nigeria by Kukutenla: 5:40pm On Feb 19
All this na grammar

The govt should battle inflation like other responsible govts instead of teaching Nigerians how to adjust to suffering through their minions.
This is the latest of the long line of ridiculous things I've heard since the start of this tinubulation.
One zombie said we should stop importation totally.
Another said we should stop eating bread.
Another came with the option of not buying cement and other goods at awkward prices citing example of how he dealt with a "stupid Nigerian" using Gbajue tactics.
A zombie even said wheat causes cancer and should be avoided at all cost. Same zombie said rice is foreign food and has no local name thus should be jettisoned for pap and Akara.
Some zombies have asked us to face the governors and leave the bringer of tinubulation alone to sleep in peace.
I can go on and on.
Zombies should receive sense. Nigerians are not fools. This is not what you promised us the builder of Lagos is coming to do in govt.
Re: How To Cope With Inflation In Nigeria by nurey(m): 5:41pm On Feb 19
The inflation cannot be coped with. the only solution is make person dey farm his own food without buying from outside. if your family dey chop half bag in a month when rice was 9000, how do you want to cope when bag is now 75,000 because i am sure salary increment wont climb to equal inflation

3 Likes

Re: How To Cope With Inflation In Nigeria by Swagk101(m): 5:42pm On Feb 19
Apt!!! Mine are as follows:
1) Buy what you only need(no impulse buying)
2) Find a way of earning more(legally), preferably in foreign currencies.
3) Saving is hard in this economy as money keeps losing value on a daily but las las savings dey later save person ooo grin
Re: How To Cope With Inflation In Nigeria by toujurs: 5:43pm On Feb 19
Brave wood gives 21%. Wow that's massive o! How do you guys get this to see these good rates.

It's time to delete this piggy vest.
Re: How To Cope With Inflation In Nigeria by EponObi: 5:43pm On Feb 19
This advice is only good for middle and upper classes.
Re: How To Cope With Inflation In Nigeria by Karleb(m): 5:44pm On Feb 19
The Zimbabwe inflation had their money gaining fake value. Everyone became a millionaire but in Nigeria, our naira is depreciating and cost of things appreciating.

We are so bad, we can't even have a proper inflation. grin

4 Likes

Re: How To Cope With Inflation In Nigeria by airsaylongcome: 5:47pm On Feb 19
Okpokpo09:
Please help my family to feed we’re dying of hunger. No money no food to eat please Nigerians help us. I’m from Osun state we’ve been starving for 3 days now we need help please please help before we die kpatakpata

Does Osun state now have "Igbo brothers"?

1 Like

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