Tiny generators in Lagos, Nigeria, have seen a 40% price surge to N140,000, putting them out of reach for many. Once a modest status symbol, these generators are now a luxury item due to unreliable power supply and inflation. The surge highlights the challenges faced by Nigerians in affording necessities.
In the bustling streets of Lagos, the once-coveted "I better pass my neighbor" generator has taken on a new meaning. What was once a symbol of modest prosperity has now become a luxury item, priced at a staggering N140,000 – a far cry from its humble beginnings at N10,000 two decades ago.
Blessing Abeti, a small business owner, was left reeling when she discovered the new cost of these compact generators. "N140,000! I nearly fainted," she exclaimed, her dream of owning one now seemed like a distant fantasy. But in a city where power outages are as common as the scorching sun, these generators have become a lifeline for many, a vital tool for survival.
Erratic power cuts have made generators indispensable for homes and businesses alike. Hakeem Aliyu, a barber and cooking gas retailer, clings to his aging 2015 generator, unable to afford a replacement at the current exorbitant prices.
As the demand for these generators continues to soar, driven by population growth and rising incomes, their prices have skyrocketed, leaving many Nigerians struggling to keep up. What was once a symbol of prosperity has now become a symbol of the harsh realities faced by a nation grappling with hyperinflation and unreliable public utilities.
Source: Business Day
