Imo citizens find themselves grappling with the stark reality that the cost of basic needs has surpassed their income and salaries.
This has led to widespread distress and discontent among the populace who lament over the worsening living conditions in the State.
This newspaper observed that 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 subsidy 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 last year from the Imo state government to increase workers salaries and share palliatives, this has not in any way 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.
Food prices have also soared, with a recent survey revealing that prices have surged beyond 50%
Healthcare expenses have also become another source of distress for Imolites, with the rising cost of medical services and medications.
This unfortunate scenario has compelled 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, now 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 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 subsidy
Analysts contend that a comprehensive review of its 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 in Owerri, 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. Cost of living is now unbearable.
“Since the fuel subsidy was removed and petrol sold for N680- 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 State government to find sustainable solutions “to a despondent citizenry plagued by harsh economic conditions”