Rufai Oseni's statement, "If you’re living in Lagos, you can’t run a family with N400,000, N500,000, N600,000 earning," highlights the growing cost of living in Lagos, Nigeria's commercial capital. This comment underscores the significant financial pressures faced by many Lagos residents, especially when it comes to sustaining a family on incomes that would have been considered substantial in the past.
Lagos is one of the most expensive cities in Nigeria due to its status as the economic hub of the country. The city's bustling economy, large population, and continuous urbanization have driven up the cost of goods, services, housing, and transportation. Key expenses for a family include:
Housing: Rent or mortgage payments are a major financial burden for families in Lagos. Property prices have skyrocketed, particularly in areas like Victoria Island, Lekki, and Ikoyi. Even in less expensive neighborhoods, rent can consume a significant portion of monthly earnings, leaving little room for other essential expenses.
Transportation: Lagos is notorious for its traffic congestion, which drives up transportation costs. Commuting, whether by private vehicle or public transportation, requires a significant portion of a family’s budget, especially with the high price of fuel and frequent vehicle maintenance.
Education: Many families in Lagos opt for private schooling due to the perceived inadequacies in the public education system. Private schools often charge high tuition fees, making it difficult for middle-income earners to afford quality education for their children.
Healthcare: Access to quality healthcare can be expensive in Lagos, particularly in private hospitals. Families often struggle with medical bills, as public healthcare facilities may be under-resourced or lack adequate services.
Food and Groceries: Food prices in Lagos have been on the rise due to inflation and supply chain disruptions. Feeding a family with a balanced diet requires a substantial amount of money, as basic food items like rice, bread, vegetables, and protein have become more costly.
Utilities: The cost of electricity, water, and other utilities in Lagos is also high. Many households rely on generators due to inconsistent power supply, which further increases expenses due to the cost of fuel and generator maintenance.
“If you’re living in Lagos you can’t run a family with N400,000 N500,000, N600,000 earning”
~ Rufai Oseni
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Rufai Oseni’s statement also reflects the broader economic challenges facing Nigerians. Inflation has eroded the purchasing power of the naira, meaning that salaries that previously could sustain a family are no longer sufficient. The inflation rate in Nigeria has been climbing, affecting the cost of everyday items, including food, transportation, and utilities. This reality makes it increasingly difficult for individuals earning between N400,000 and N600,000 to cover all their expenses, especially when raising a family.
For many in the Nigerian middle class, earning within this range used to signify financial comfort, but in today’s economy, it barely covers basic needs in Lagos. The middle class, which is often described as the backbone of any economy, finds itself squeezed between rising costs and stagnant wages. This has led to a situation where families have to make tough choices between necessities, from cutting back on food quality to postponing healthcare or reducing the quality of education for their children.
Oseni’s comment speaks to a larger systemic issue that many Nigerians are grappling with – the widening gap between earnings and living costs. This disparity is particularly pronounced in Lagos, a city that draws many for economic opportunities but also presents some of the highest costs of living in the country. For those earning between N400,000 and N600,000, the pressure to make ends meet can be overwhelming, and this income bracket is no longer a guarantee of financial security.
Ultimately, Rufai Oseni’s observation calls attention to the need for comprehensive economic reforms, including wage adjustments, social safety nets, and cost-of-living interventions to help Nigerians cope with the rising financial burden of urban life. Without these measures, even individuals earning what was once considered a respectable income may continue to struggle to provide a decent standard of living for their families.
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