ONOH: ₦3,000 DAILY BUDGET FALLS SHORT FOR AVERAGE NIGERIAN FAMILY

The proposed daily spending benchmark of ₦3,000 for an average Nigerian household has been described as unrealistic, with concerns that the amount cannot adequately cover the basic needs of families amid the rising cost of living. The argument reflects the growing pressure on households as food, transportation and other essential expenses continue to take a larger share of available income.

According to Onoh, using ₦3,000 as a realistic daily household budget does not reflect the economic situation facing many Nigerians. He noted that families have to deal with the rising prices of food and other necessities, making it difficult for households to meet their daily needs with such a limited amount.

The concern comes as the cost of basic food items remains high across different parts of the country. Prices of staples such as rice, beans, garri, cooking oil and other household essentials have continued to put pressure on consumers, forcing many families to reduce what they buy, change their meal choices or make difficult decisions about other expenses.

For many households, daily spending also goes beyond food, as transportation, electricity, cooking fuel, healthcare and other basic needs have to be considered. This means that a family attempting to survive on a ₦3,000 daily budget could quickly exhaust the amount without adequately covering all its essential expenses.

Onoh’s position therefore points to the wider challenge of household affordability in Nigeria, where income levels have struggled to keep pace with the cost of living. He argued that any realistic assessment of what Nigerian families need should take current market prices and the different expenses faced by households into consideration.