Nigeria is saved by Removing Price Controls: Inflation effects was exaggerated to favour the rich and wasteful

 

Tidak lah seteruk yang di tunjukkan.
Malah mulai tahin 2026 sudah nampak pengurangan inflasi lagi, dipanggil disinflation.

Kadar inflasi kurang kepada 15.43% dari 22.22% sebelum penghapusan(2022) kawalan harga yang haram dalam Islam pun.

Pengurangan ini ada lah seban kerajaan Nigeria telah kurangoan pencetakan wang. Caranya ialah mengurangkan lebihan  belanja kerajaan dari hasil. Hasil kerajaan meningkat sebab cukai bertambah, senab harga naik kan. Belanja meningkat sebab gaji kakitangan naik juga, namun kurang dari perbelanjaan subsidi kawalan harga.

Sebenarnya, tahap hidio boleh serupa selepas penghapusan sabsidi harga dengan menggunakan penjimatan wang sabsidi kawalan harga kepada, pengurangan inflasi dari 34% kepada 22.22%, dengan mengurangkan kejatuhan nilai matawang dari 60% kepads 30% sahaja.

Namun, kesengsaraan rakyat Nigeria yang memang pun mengalami inflasi teruk, 22.22% walaupun ada sabsidi kawalan harga.

Yang rugi teruk ialah orang yang boros dan suka beli barang impot. Barang impot naik harga 60% sebab nilai matawang jatuh 60%, dengan penguapusan kawalan nilai matawang.

Kelebihan penghapusan nilai matawang ialah dengan hapus nya black market, di mana barang impot memang di jual guna harga pasaran sebenar, jadi senang di dapati, tapi harga memang tinggi lah, jauh lebih tinggi dari 60% lagi, sebab jualan haram.

Dengan kenaikan harga petrol, ada lah peluang untuk berjimat dengan naik bas. Ertinya, inflasi harga petrol cuma terjadi kepada orang yang boros mahu menggunakan kereta yang kuat makan petrol. Mereka yang terasa tertekan lebih. Jadi inflasi sebenar orang awam cuma sekadar 25% sahaja lah.

Kenapa? Sebab makanan asas orang Nigeria boleh di dapati di tempatan. Tidak perlu mengimpot beras.

Rupanya Nigeria pun tanam beras sendiri. Dengan kenaikan harga impot 60%, bererti harga beras tempatan pun boleh naik, tapi mustahil sampai 60% sebab sama harga dengan beras tempatan. Jadi, lebih baik beli beras impot yang mahal pun, sebab harga beras tempatan naik.

Namun kenaikan harga beras dan makanan tempatan, yang memang pun naik 22.22% setiap tahun, cuma naik kepada 25%, bukan 35%, purata inflasi yang terjejas oleh inflasi tenaga 100% pada 2023. Naik kepada 1000% tapi kadar inflasi keseluruhan menurun lagi, jadi 15%.

Nasib baik Nigeria hapuskan sabsidi kawalan harga. Kalau tidak, lagi teruk inflasi pada tahun 2026 dari 2022, bukan saja 22% tapi boleh jadi 220% seperti terjadi di Sri Lanka, Venezuela dan Zimbabwe.

Here is a comparison of Nigeria's inflation rates versus salary increases for both the government and private sectors since the subsidy removal in May 2023. The bottom line: nominal salaries have increased in both sectors, but inflation has eroded these gains, leaving most workers with significantly less purchasing power.

📈 Inflation: The Benchmark

· Pre-Subsidy Removal (April 2023): 22.22%

· Post-Removal Peak (December 2024): 34.8%

· Recent (July 2026): 15.43% (disinflation, not deflation—prices are still high)

🏛️ Government (Public) Sector

· Federal Minimum Wage: Increased from ₦30,000 to ₦70,000 in July 2024 (a 133% nominal jump). The FG spent ₦9.39 trillion on these adjustments (June 2023–Dec 2025).

· State-Level Variations: Implementation varies. Budgets for state personnel costs rose by ~90% in 2025. Some states went further: Imo State raised its minimum wage to ₦104,000, and Bayelsa approved a 25/35% salary increase.

🏢 Private Sector

· Banking Sector: Led the way with significant hikes. GTCO raised salaries by 40% in late 2024, Sterling Bank raised entry-level pay from ~₦320k to ₦528k monthly, and Wema Bank implemented a 45% hike in July 2023.

· Oil & Gas: PENGASSAN reports some companies have negotiated nearly 300% increases over three years.

· Lagos State Average: Rose by 40% from ₦125,000 (2024) to ₦175,000 (2025).

· Aggregate Data: Total employee compensation rose nominally by 18.43% in 2024. The 30 biggest firms saw their salary bills jump 68.7% in 2024.

💸 The Verdict: Real Wages Have Fallen

Despite these raises, the real value of wages has dropped. While the nominal total compensation of employees rose by 18.43% in 2024, the real value actually fell by 9.85%. Nigerian workers lost approximately ₦2.79 trillion ($1.97 billion) in purchasing power in 2024 alone.

To put it in perspective:

· A 133% minimum wage increase (₦30k to ₦70k) was completely outpaced by the cumulative inflation on essentials like food and transport.

· Even a 300% raise in the oil sector barely keeps pace with the 400% price hikes on some goods.

In short, while private sector workers—especially in banking and oil—have seen larger nominal increases than public sector workers, neither group has kept up with the cost of living. The gap between wage growth and inflation means the average Nigerian worker is significantly poorer today than before the subsidy was removed.

Swallows (Starchy Doughs)

· Eba & Fufu: Highly local. Made from cassava processed by local farmers into garri or flour.
· Amala, Lafun & Pounded Yam: Highly local. Made from yam (Amala/Pounded Yam) or cassava (Lafun). Pounded yam is also made from fresh yam.
· Tuwo Shinkafa: Highly local. Made from local rice varieties.
· Semo / Semovita: Mostly local. Made from wheat (often imported) or a corn/wheat blend (corn is locally grown).
· Starch: Highly local. Extracted from local cassava.

🍛 Rice Dishes

· Jollof Rice: Can be local or imported. Many prefer local rice (like Ofada), though imported rice is also common.
· Ofada Rice: 100% local. A unique locally grown variety from Ogun State.

The removal of Nigeria's petrol subsidy in May 2023 led to a sharp increase in both petrol prices and the country's overall inflation rate.

📈 Petrol Price Inflation (Pump Price)

The price of petrol surged immediately and has continued to rise:

· Before Removal (May 2023): The price was officially between N175 and N238 per litre, though some sources cite N184-N198.
· Immediate Aftermath (Late May - June 2023): Prices more than doubled overnight, jumping to between N488 and N557 per litre.
· Ongoing Increases (2024 - 2026): The price continued to climb, reaching over N1,300 per litre by mid-2026