Perceptions of a Poorer More badly Managed Economy
It is not so much that the standard of living is falling drastically, but that Nigerians are not earning enough income to satisfy new and more sophisticated needs. Basically, the needs of Nigerians have expanded geometrically in the last few years. For instance, increased access and subscription to cable and the use of expensive cellular phones and recharge cards are new expenses being faced by everyone that was not obtainable in the past, so also are market-based school fees at universities and enrollment of children into private schools at all levels unlike in the past. These expenses all reduce disposable income. Even historical out of pocket expenses including taking care of relatives through the extended family system, health care expenses, burial expenses and weddings expenses are now prohibitive. The rise of burial and wedding expenses is so high that certain religious institutions have restricted they length of time a corpse can remain unburied and some traditional r...