The current economic climate in Nigeria is putting immense pressure on citizens, with students feeling the brunt of the downturn. Rising inflation, fluctuating currency values, and soaring living costs have turned academic life into a daily struggle for survival. Let’s delve into the challenges faced by students and how the economic crisis is reshaping their academic journeys.
The Economic Reality
Nigeria’s economy has been hit hard, with inflation rates climbing to record highs and essentials like food, transportation, and housing becoming increasingly unaffordable. Reports from the National Bureau of Statistics (NBS) reveal that food prices have surged by over 20% in the past year alone. Staple items like instant noodles, sachets of water, and garri, once affordable, have now become luxuries, symbolizing the country’s dire economic state.
The financial strain has left many students struggling to make ends meet. Basic needs like food, textbooks, and transportation have turned into significant hurdles, forcing students to make tough choices.
Students’ Struggles
For students across Nigeria, survival has become a game of endurance. Cecilia, a second-year student at Benson Idahosa University, paints a grim picture: “The question now is, do I pass or pass away?” She shared how she has resorted to eating only once a day to stretch her limited resources.
Marvellous, another student at the same university, echoed similar sentiments: “When I was in my first year, rice for ₦300 filled a pack. Now, ₦1000 barely covers the bottom of the plate. At this rate, I’m spending ₦30,000 a month just on food!” This amount, she explained, is unsustainable given her limited allowance, with no additional support from her family, who are also grappling with financial hardship.
Jokes about skipping meals and “fasting for fitness” have become coping mechanisms for many students trying to mask their frustration and despair. But beneath the humor lies a harsh reality: the rising cost of living is jeopardizing not only their academic success but also their physical and mental health.
Impact on Academics
With exams on the horizon, the financial pressure has compounded the stress of studying. John, a final-year student, explained: “It’s hard to focus on academics when you’re constantly worried about your next meal or how you’ll pay your bills.”
Research indicates that food insecurity can negatively impact academic performance, student behavior, and engagement, ultimately increasing dropout rates. This trend is becoming evident as more students face the risk of leaving school due to financial constraints.
Coping Mechanisms and Support
Despite the overwhelming challenges, students are finding ways to adapt. Elizabeth, a third-year student at the University of Benin, shared: “I’ve cut back on social activities and focused entirely on my studies. It’s not easy, but I have to prioritize my education.”
Some universities and organizations have stepped in to offer limited support through scholarships and grants. However, students argue that more comprehensive aid is needed, including financial assistance for living expenses and an increase in the federal minimum wage to cushion the economic impact.
A growing number of students have also turned to second-hand markets, purchasing items like beds, fridges, and gas cylinders from graduating students to save costs. Others have called for the government to create paid part-time internships, regulate essential goods’ prices, and provide financial literacy programs to help them navigate the crisis.
Call to Action
To address these issues, policymakers and institutions must take urgent action. Providing direct financial assistance, subsidizing education costs, and creating affordable housing for students are crucial steps. Universities could also offer counseling and budgeting workshops to help students manage their finances more effectively.
As the academic calendar progresses, it’s vital for all stakeholders to recognize the severity of the situation. Students should be able to focus on learning and achieving their goals, not on surviving an economic storm. Until systemic changes are implemented, students must remain resourceful, adopt strict budgets, and prioritize their health to navigate these challenging times.
