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    Home»Latest News»Cost of living crisis reshapes Eid spending in Nigeria | Business and Economy News
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    Cost of living crisis reshapes Eid spending in Nigeria | Business and Economy News

    Ironside NewsBy Ironside NewsMay 26, 2026No Comments4 Mins Read
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    Abuja, Nigeria – Seated on a plastic chair inside his modest madrassa in Abuja, Yunus Akanji listened as youngsters recited verses from the holy Quran in smooth, rhythmic tones. Some sat on mats, others on lengthy wood benches.

    The Islamic instructor often corrected a pronunciation or repeated a line, however his consideration drifted.

    For years, Akanji, who teaches on the Nurul Bayan Islamic Faculty, travelled along with his spouse and kids to Saki in Oyo State to reunite along with his prolonged household for Eid al-Adha, typically known as Sallah in Nigeria.

    When he didn’t make the journey, he would purchase a ram for Eid and host a modest celebration along with his household and college students.

    This yr, neither is going on.

    Yunus Akanji, an Islamic tutor at Nurul Bayan Islamic Faculty, guides his college students throughout recitation of the Quran [Hussain Wahab/Al Jazeera]

    “I’ve concluded that we’ll simply have a good time with no matter we have now,” he informed Al Jazeera.

    The annual Muslim competition, marked by communal prayers and the ritual sacrifice of animals, is approaching amid deep financial pressure in Nigeria.

    In Abuja, rising meals and transport prices are quietly altering what number of households are making ready for Eid.

    No journey dwelling

    Akanji stated even mother and father and group members who normally help his madrassa are struggling.

    “Most of them haven’t even paid,” he stated, referring to tuition charges that assist preserve the college and his family operating.

    The strain just isn’t confined to the classroom. It reveals up in bus stations, in markets, and within the small calculations individuals make earlier than deciding whether or not to journey or keep.

    Nafisa Ibrahim from Ogun, presently in Abuja doing a compulsory one-year programme for graduates below the Nationwide Youth Service Corps, stated she has dropped her plan to go dwelling for Eid. Transport prices alone made it unattainable.

    There may be additionally no assure her household will even be capable to slaughter an animal this yr.

    “Transportation is about 35,000 naira [about $26], in comparison with the 15,000 naira [about $11] I paid after I got here to Abuja in February,” she stated.

    Opeyemi Ibrahim, a dressmaker based mostly in Byazhin district, stated buyer patronage has dropped sharply regardless of the approaching festivities.

    Opeyemi in his shop working
    Opeyemi Ibrahim at his style store in Byazhin, the place he says enterprise has slowed [Hussain Wahab/Al Jazeera]

    He stated rising gas prices and erratic electrical energy provide have pushed up his working bills.

    “When there is no such thing as a electrical energy, we have now to run the generator,” he stated. “Filling it prices about 10,000 naira [$7].

    However with out it, the store turns into too scorching, and we nonetheless want energy to iron prospects’ garments.”

    Inside Kubwa livestock market

    At a livestock market in Kubwa, the pressure is apparent earlier than anybody even speaks. Males stand beside rams tied to wood posts. Patrons transfer from one animal to a different, ask just a few questions, then drift away.

    Malam Ibrahim, a livestock vendor who has been within the commerce for years, sat close to the feed, watching most of his prospects depart empty-handed.

    “Individuals come, ask for costs, and stroll away,” he stated.

    Mallam Ibrahim, a livestockseller exhausted the kubwa market lieng on the animals' feeds due to lack of customers
    Malam Ibrahim, a livestock vendor at Kubwa market, rests throughout a sluggish gross sales day [Hussain Wahab/Al Jazeera]

    He pointed to a ram close by, with black-and-white markings on its physique.

    “This ram is promoting for 600,000 naira [about $438],” he stated. “Final yr, the identical dimension was beneath 350,000 naira  [$255].”

    Getting animals down from northern Nigeria, Sokoto, Kaduna and past, has turn out to be costlier. Gas costs, transport fares, every thing feeds into the ultimate price.

    “Even the sellers are struggling,” Ibrahim stated. If gross sales keep sluggish, he worries the animals will stay unsold after Eid, when their worth drops additional. “We don’t pray to take them again dwelling, however with the seems to be of issues, I worry so,” he stated.

    Eid cutbacks

    One lady who had come to purchase two rams left with just one.

    Buhari Yishau, a fruit seller at Kubwa village market
    Buhari Yishau, a fruit vendor, works at Kubwa village market, the place gross sales have slowed forward of Eid [Hussain Wahab/Al Jazeera]

    Inflation has been regular in Nigeria for years now, however what individuals really feel most is the hole between rising costs and stagnant incomes. The naira might look extra secure towards the USA greenback than final yr, merchants say, however transferring items throughout the nation nonetheless prices extra each month.

    At Kubwa village market, consumers saved transferring, however few stopped to purchase.

    Distributors promoting tomatoes, onions, rice and cooking oil stated gross sales had been slower than regular, with many households slicing again even on primary festive meals.

    “We used to have a good time Eid with pleasure,” one dealer stated quietly. “Now we simply calculate what we are able to afford.”



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