In Imo, a prevailing concern echoes across the State as citizens find themselves grappling with the stark reality that the cost of basic needs has surpassed their income, leading to widespread distress and discontent.
The economy of the State, like other States in the federation, has witnessed a disconcerting shift, leaving many residents burdened by the weight of financial strain.
The removal of fuel subsidies by the Bola Tinubu administration on May 29, 2023, which led to an increase in fuel prices, had an enormous effect on the economy.
This also led to an increase in the cost of essential commodities such as housing, healthcare, and education and has outpaced income levels, plunging a significant portion of the Imo population into a precarious economic situation.
Despite assurances from the state government to increase workers salaries and share palliatives, this has not impacted the financial condition of the average Imo citizen.
The cost of living in the state is particularly felt in housing, where skyrocketing prices make it increasingly challenging for individuals and families to secure or retain decent accommodation.
As rental and property prices surge in the state capital and in semi-urban settlements, many find themselves either living in substandard conditions or allocating an unsustainable portion of their income to housing expenses.
Healthcare expenses have become another source of distress for Imolites with the rising cost of medical services and medications.
This unfortunate scenario often compels residents to make difficult choices between seeking necessary healthcare and managing their limited financial resources.
Education, a cornerstone for societal progress, has also become a heavy financial burden for many families in the state.
The increasing costs of tuition, textbooks, and other educational necessities strain the budgets of parents, limiting the opportunities for their children to access quality education.
The disparity between income and the cost of basic needs has also led to a palpable sense of frustration among the majority of the populace in the State.
Many Imolites, despite their hard work and dedication, find it increasingly difficult to make ends meet. This economic strain not only affects individuals but has broader implications for the overall well-being of the people of the state.
The Governor Hope Uzodimma administration, which recently secured re-election on November 11, is faced with the urgent task of addressing this economic imbalance to alleviate the suffering of its citizens, which plummeted after the removal of fuel subsidies.
Analysts contend that a comprehensive review of economic policies, coupled with targeted crucial interventions, is crucial to restoring a balance that ensures the affordability of essential goods and services for all residents of the state.
Hon. Emeka Onuoha, a resident of the state, told INNONEWS that the economic situation, not only in the state but across the country, is strenuous and hellish.
“The economic situation is difficult for residents of the State.Since the fuel subsidy was removed and sold for N700 per liter, survival in the state or in any other part of the country has been hell.
“The cost of transportation and the cost of living have been unbearable. It is unacceptable,” he said.
He called on community leaders, civil society organizations, and advocacy groups to raise awareness about the plight of Imolites and the need for the government to find sustainable solutions “to a despondent citizenry plagued by harsh economic conditions”
The majority of Imolites, resilient in the face of adversity, are voicing their concerns and advocating for positive change over the frightening hardship in the State.
Only through concerted efforts at various levels by the government can the people of the state hope to overcome the current challenges, where the income of its citizens aligns with the costs of their basic needs.