A SEASON OF RISING COSTS

By Don Peter Okoro
                              
The economic situation in Nigeria has always been bad, but that of this year can be termed as “worse” if not “worst”. Some years back, things were manageable and the masses could manoeuvre their ways through the debris of the harsh economic reality providence had thrown on them; but not anymore. It looks like they have all come to their wits end.                   
Two vital items that are major determinants of the economic tempo    i.e. fuel and kerosine have shot over the roof with warning that this is just the preamble. The real thing is on the way. As at today, a litre of kerosene is #500 while fuel is #200 with black market even higher. This is totally appalling. Ladies and Gentlemen, where do we go from here? The prices of food stuffs, especially those ingredients needed for a time like this, have all skyrocketed. Same is applicable to every other item in the country.                                 
While it is true that this period of yuletide has been mostly responsible for the high cost of goods and services, it should also be noted that since May 2020, inflation has risen by more than 5%, building on a steady rise since August 2019. The truth is that the Nigerian economy is over-dependent on oil, and with the natural resource losing its value on the International market, due to Covid 19 related supply and demand constraints, trade and travel restrictions; petroleum products have gotten more expensive as a result. As we Nigerians face this season of rising cost of living, what is the recipe? The solution is to stick to the old, wise saying which is to cut your coat according to your cloth and not according to your size, because your size may be bigger than your clothe.                          
In other words, we should learn to concentrate on the essentials. Human needs are different from human wants. Needs are those essential things that are needed for our daily survival. Those basic things that are required which are extremely necessary for a human being to live a normal and healthy life. Things like food, clothing and shelter. These are the priorities we should focus on, for now, as they are the things that keep us healthy and safe.                                    
 Our attention in this season of rising cost of living and celebrating Xmas and New year in a bad economy, is to be focused on our needs and not on our wants.          After our needs have been met, we can now begin to talk about our wants. Wants are not necessities of life and in any case, human wants are insatiable. It is human wants that keeps factories, manufacturing companies and top notch corporations busy and active and so have their own important roles to play and should not be undermined, but the point is that as for the general populace who are still battling with all kinds of life’s vicissitudes, please tackle your needs before your wants.                              
In conclusion, it is important to plead with those in authority at various levels, Local, State and Federal that they should kindly rule with compassion. Nigeria should not be allowed to slip into an era in Biblical times where women were forced by hardship to begin to boil their children for breakfast as recorded in the Bible. A word is enough for the wise. Have a Fun-filled Celebration!