According to the latest data from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, the United States reduced its purchase of Nigerian crude oil sharply in January 2026, with imports dropping by about 47.16 per cent month-on-month.

Figures from the U.S. International Trade in Goods and Services report indicate that U.S. crude imports from Nigeria fell to 1.664 million barrels in January 2026, down from 3.149 million barrels recorded in December 2025. This represents a decline of 1.485 million barrels within one month, showing a significant contraction in Nigeria’s share of the U.S. crude market.

This incessant rise has therefore affected the cost of living of the common man. Goods are now sold at exorbitant prices, making it unbearable for the masses to buy. An average trader now complains of low sales owing to the hike in prices of goods, which is preventing customers from buying one good or the other.

In my visit to ‘Oluode’, one of the popular markets in Osogbo, the Osun State capital, I was faced with several complaints from traders ranging from hike in price to poor patronage, among others.

In an interview, a rice seller, identified simply as Madam Suliyat, noted that a bag of rice used to be sold for 55 thousand but has now risen to 60 thousand, while a bag of beans has moved from 95 thousand to 110 thousand.

She, however, called on the federal government to come to their aid and proffer necessary solutions to the hike. She also called for peace among the warring nations of the world.

Similarly, another trader, Madam Hammed, also complained about the hike in food prices like yam flour, which is now sold for 300 thousand naira. She maintained that the high price has affected her sales.

She, however, pleaded with the present administration under Gov. Ademola Adeleke to create more soft loans for traders, which will be aimed at making life easier for them, saying that the last time they enjoyed such soft loan opportunities was during Rauf Aregbesola’s administration.

Meanwhile, the hike in petroleum price has pushed up transportation and living costs across the country. As the crisis continues, labour groups are demanding relief measures to help workers keep up with the rising cost of living.

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The struggle is no longer about getting ahead, it is about getting through every day, with life turning into a constant calculation of what can still be afforded and what must be sacrificed morning to night.

While some food produce should have reduced in price, a trip to the market shows food prices have either remained the same or the reductions negligible, telling the clearest story that our food security problems may be deeper issues of Agricultural policy, than mere inflation.

Going to the market now feels like an emotional exercise. Gaari, the “poor man’s meal” has also moved out of the reach of the common man. Families now reduce food portion, skip meals, or take whatever is cheapest. Some families cannot remember the last time protein was had in their homes as cost of meat, fish, or even alternate sources of protein have gone out of reach.

The families once regarded as middle-class now sit at the bottom of the class, those at the lowest chain forced to be beggars, and hunger has become routine.

Another issue that follows food price closely is transport costs. Several fuel price adjustments and the increase in spare parts or maintenance costs, is quickly transferred to commuters. Workers now spend huge portions of their income just to get to work, with some others who cannot afford transport costs forced to seek free means of transportation, putting themselves at risk of insecurity.

Electricity tariffs have also skyrocketed even as supply remains unreliable. House Rent also continued to spike, even in places without maintenance, areas with poor roads, irregular water supply, and limited security, as housing agents also continue to make things difficult.

School fees? Those are seeing astronomical increases while parents’ incomes refuse to improve. Hospital bills, for even the most basic ailments, force families into debt, prayer, or self-medication. In all of this, incomes barely move, pensions no longer have value, and savings are made useless by inflation.

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All these are as a result of years of weak productivity, dependence on imports, currency instability, poor infrastructure, and policy decisions that puts the burden of adjustment on everyday people. Fuel subsidy removal, exchange rate restructurings, and tax measures may actually make economic sense on paper, but in reality, they have worsened the realities of the common man who was already dying under the weight of our poor productivity and bad governance.

What is even scarier? Hardship is now normalised. Nigerians have turned suffering into a national identity, appreciating endurance while ignoring the cost. People are adjusting, but backward, by cutting back on food, healthcare, education, and dignity, which are clear signs of regression.

Beyond money, the high cost of living is reshaping the society, as young people see less reasons to stay in the country shifting the conversation from hardship to a more terrifying social problem – brain drain.

Leadership in times like these is not about reassurance alone but also about results. Nigerians deserve policies that reduce hardship, not deepen it. People should not be forced to barely survive when they should be excelling.

Nigeria and Nigerians cannot survive forever this way because a nation where citizens spend most of their energy to just stay alive cannot build a future. Economic reform must go beyond data and predictions and must be felt in the market, at the bus stop, in homes, and on payrolls. Leveling prices and making it stable, supporting local production, reviewing wages in a realistic way, and investing in infrastructure are no longer voluntary but urgently critical.

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