Eid Spending in Nigeria Impacted by Cost of Living Crisis

Eid al-Adha Celebrations in Nigeria Affected by Economic Strain

In Abuja, Nigeria, the upcoming Eid al-Adha festival is being impacted by rising costs of living. Families are adjusting their spending and reducing celebrations due to economic strain.

Yunus Akanji, an Islamic teacher at Nurul Bayan Islamic School, has cancelled his annual trip to Saki in Oyo State to reunite with his extended family for Eid. Instead, he plans to celebrate with his family and students using what they have. Akanji’s madrassa is also struggling due to unpaid tuition fees.

Transportation costs are a significant factor in the decision-making process for many families. Nafisa Ibrahim from Ogun State has dropped her plan to travel home for Eid due to high transport costs, which have increased by 20% compared to last year. Opeyemi Ibrahim, a fashion designer, reports a sharp decline in customer patronage despite the approaching festivities.

Rising fuel costs and erratic electricity supply are contributing to the economic strain. Opeyemi Ibrahim said that filling his generator costs about $7, but without it, his shop becomes too hot and he needs power to iron customers’ clothes.

At a livestock market in Kubwa, sellers are struggling due to high prices and reduced demand. Malam Ibrahim, a livestock seller, reported that the price of rams has increased by 70% compared to last year. He fears that if sales stay slow, the animals will remain unsold after Eid, when their value drops further.

The impact of inflation on Nigeria’s economy is being felt across the country. While the naira may look more stable against the US dollar, moving goods across the country still costs more every month.

Source: Al Jazeera