Nigerians have been confronted with another disturbing picture of the country’s economic hardship following a revelation attributed to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, that some households spend as much as 120 per cent of their income on food. Oyedele reportedly made the disclosure at Chatham House in London, citing a government survey which indicated that some families spend more on feeding than they earn.
According to reports of his remarks, the minister explained that households facing this situation often resort to borrowing money or depending on relatives to survive until the end of the month. The revelation highlights the growing pressure on Nigerian families as food prices continue to strain household budgets, leaving many workers struggling to meet basic needs despite earning regular salaries.
