₦airaland Forum

Nigerians are increasingly embracing locally-made products as the soaring cost of foreign goods, driven by currency depreciation and import pressures, forces a rethink of household spending.

What was once a matter of preference is now a matter of necessity, and consumers are adapting fast.

This trend came into sharp focus on a recent episode of Drinks and Mics, a Nairametrics podcast hosted by Ugodre Obi-Chukwu and co-hosted by Arnold Dublin-Green and Tunji Andrews.

Watch the episode:

The episode featured Oler Oladele, founder of the MoneyWit Club, who shared how Nigerians — particularly families — are adjusting to the realities of a tighter economy.

“When we talk about macroeconomic numbers, it’s easy to get lost in all the data and forget the real people behind the numbers,” Oler said during the show. “But the real impact, the significant impact, is on Nigerians themselves. Beyond forex depreciation or GDP, we have to ask: how are people actually living?”

The answer, it seems, lies in the supermarket aisle and around the family dining table. According to Oler, Nigerian consumer behavior is undergoing a quiet but dramatic transformation.

“Think about it: how many people are still casually shipping things from America like they used to? Or taking shopping trips to Dubai? Those days are gone — or at least drastically reduced,” she noted.

This change is not anecdotal. Recent reports show a drop in import volume, which some analysts link to Nigeria’s recent balance of payments surplus.

“I remember reading that the surplus was driven not by rising exports, but by reduced imports. It shows how much our consumption patterns are shifting,” Oler added.

Reforms and rising inflation

The shift comes in the aftermath of bold economic reforms rolled out by the administration of President Bola Tinubu, which began shortly after he took office in May 2023. These included the removal of fuel subsidies, the unification of Nigeria’s multiple exchange rates, and the partial withdrawal of electricity subsidies.

• While these reforms earned praise for improving policy credibility and unlocking market efficiency, they have also contributed to a sharp rise in the cost of living. Inflation has soared to a two-decade high, touching 34.8% in early 2025, with food and energy costs being primary drivers.

Fuel prices remain a particular concern. Oler noted that while devaluation often triggers trader exits and price hikes, the bigger pain point for households tends to be petrol. “If oil prices drop but the naira also weakens, that’s when things get tricky,” she warned.

Still, the panel agreed that inflation may not bite as harshly as before, at least in certain categories, thanks to consumer adaptation. “Imported inflation isn’t hitting as hard anymore because people simply aren’t buying the imported version,” said co-host Tunji Andrews.

He shared a personal anecdote to illustrate: “I was at the supermarket buying cereal for my kids. I picked a nicely packaged brand, and someone pointed out, ‘That’s the imported one.’ I didn’t even know we had a Nigerian version. That’s how much substitution is happening.”

The economics of humility

What emerges from this shift is a broader story — one of economic resilience, but also humility.

“A lot of people can no longer afford to buy new cars. But it’s not just the big stuff,” Oler explained. “Even buying kitchen towels has changed. I sat with some mothers recently, and they told me how their nannies now influence which brands they buy because of price. The economy has humbled a lot of people.”

She went on to emphasize how this shift is not just about brand switching — it’s about a complete reprioritization of household needs. “The elite may not feel it as sharply unless they stop eating out and start shopping like everyone else. But if you’re buying things for a family every week, you’ll see how much has changed.”

• Ugodre Obi-Chukwu raised a critical question during the podcast: Is the weakening exchange rate still the major threat to everyday Nigerians it once was?

“I’d say not really,” Oler replied. “Not in the same way. Because consumer patterns have adjusted, people are navigating around it.”

And this may be the real story of Nigeria’s economic transformation — not just in policy terms, but in the lived experiences of its people. As imported goods become more expensive and foreign exchange pressures persist, Nigerians are responding not with despair, but with adaptation.

“Exactly. It’s not theoretical anymore,” Oler concluded. “People feel it every day. And that’s the real story behind all these reforms and market movements — a total reshaping of how Nigerians consume, survive, and adapt.”

sameoldguy:
Do we have any made in Nigeria products?

AmazingGenius:
[b]Nigerians shift to made-in-Nigeria products as imported items become too expensive.


Source: https://nairametrics.com/2025/04/14/nigerians-shift-to-made-in-nigeria-products-as-imported-items-become-too-expensive/

AmazingGenius:
Nigerians shift to made-in-Nigeria products as imported items become too expensive.



Nigerians are increasingly embracing locally-made products as the soaring cost of foreign goods, driven by currency depreciation and import pressures, forces a rethink of household spending.

What was once a matter of preference is now a matter of necessity, and consumers are adapting fast.

This trend came into sharp focus on a recent episode of Drinks and Mics, a Nairametrics podcast hosted by Ugodre Obi-Chukwu and co-hosted by Arnold Dublin-Green and Tunji Andrews.

Watch the episode:

The episode featured Oler Oladele, founder of the MoneyWit Club, who shared how Nigerians — particularly families — are adjusting to the realities of a tighter economy.

“When we talk about macroeconomic numbers, it’s easy to get lost in all the data and forget the real people behind the numbers,” Oler said during the show. “But the real impact, the significant impact, is on Nigerians themselves. Beyond forex depreciation or GDP, we have to ask: how are people actually living?”

The answer, it seems, lies in the supermarket aisle and around the family dining table. According to Oler, Nigerian consumer behavior is undergoing a quiet but dramatic transformation.

“Think about it: how many people are still casually shipping things from America like they used to? Or taking shopping trips to Dubai? Those days are gone — or at least drastically reduced,” she noted.

This change is not anecdotal. Recent reports show a drop in import volume, which some analysts link to Nigeria’s recent balance of payments surplus.

“I remember reading that the surplus was driven not by rising exports, but by reduced imports. It shows how much our consumption patterns are shifting,” Oler added.


Reforms and rising inflation

The shift comes in the aftermath of bold economic reforms rolled out by the administration of President Bola Tinubu, which began shortly after he took office in May 2023. These included the removal of fuel subsidies, the unification of Nigeria’s multiple exchange rates, and the partial withdrawal of electricity subsidies.

• While these reforms earned praise for improving policy credibility and unlocking market efficiency, they have also contributed to a sharp rise in the cost of living. Inflation has soared to a two-decade high, touching 34.8% in early 2025, with food and energy costs being primary drivers.

Fuel prices remain a particular concern. Oler noted that while devaluation often triggers trader exits and price hikes, the bigger pain point for households tends to be petrol. “If oil prices drop but the naira also weakens, that’s when things get tricky,” she warned.

Still, the panel agreed that inflation may not bite as harshly as before, at least in certain categories, thanks to consumer adaptation. “Imported inflation isn’t hitting as hard anymore because people simply aren’t buying the imported version,” said co-host Tunji Andrews.

He shared a personal anecdote to illustrate: “I was at the supermarket buying cereal for my kids. I picked a nicely packaged brand, and someone pointed out, ‘That’s the imported one.’ I didn’t even know we had a Nigerian version. That’s how much substitution is happening.”

The economics of humility

What emerges from this shift is a broader story — one of economic resilience, but also humility.

“A lot of people can no longer afford to buy new cars. But it’s not just the big stuff,” Oler explained. “Even buying kitchen towels has changed. I sat with some mothers recently, and they told me how their nannies now influence which brands they buy because of price. The economy has humbled a lot of people.”

She went on to emphasize how this shift is not just about brand switching — it’s about a complete reprioritization of household needs. “The elite may not feel it as sharply unless they stop eating out and start shopping like everyone else. But if you’re buying things for a family every week, you’ll see how much has changed.”


• Ugodre Obi-Chukwu raised a critical question during the podcast: Is the weakening exchange rate still the major threat to everyday Nigerians it once was?

“I’d say not really,” Oler replied. “Not in the same way. Because consumer patterns have adjusted, people are navigating around it.”

And this may be the real story of Nigeria’s economic transformation — not just in policy terms, but in the lived experiences of its people. As imported goods become more expensive and foreign exchange pressures persist, Nigerians are responding not with despair, but with adaptation.

“Exactly. It’s not theoretical anymore,” Oler concluded. “People feel it every day. And that’s the real story behind all these reforms and market movements — a total reshaping of how Nigerians consume, survive, and adapt.”
Source: https://nairametrics.com/2025/04/14/nigerians-shift-to-made-in-nigeria-products-as-imported-items-become-too-expensive/

bigiyaro:
Which Nigerians are shifting? To which made in Nigerian goods? Which made in Nigerian goods are cheaper? The last item I bought recently was an original okrika Nike sneakers, though it was second hand, it was of a better qualitative build and cheaper than the ABA made I saw in the same shop.

helinues:
Na different ways to receive the missing senses

The Okrika, we have tailors that sew native, they can also see the casual wears

Adidas, Nike, we have coblars, they can do better than that if government intervene

Buying second hand bra, pant, boxers. Hahaha we have been stooping for long