The reforms, announced by President Tinubu in May, included the removal of subsidy on petrol and the unification of exchange rates.
As a result, the prices of goods and services have increased, and some educational institutions have raised their school fees.
With the minimum wage still stagnant, Edo residents have devised various strategies to navigate the current economic situation.
One common approach is to reduce unnecessary trips and limit expenses on non-essential items like Aso Ebi. Many have resorted to walking or trekking instead of using cars to save on fuel expenses.
Ofure John, a retiree, shared his experience of coping with the reforms, stating that he has adjusted his lifestyle to match his income.
He has cut down on expenses he can do without and substituted costly items with more affordable alternatives. To minimise fuel costs, he avoids unnecessary trips and only ventures out when he has multiple errands to run in the same area.
John offered advice to fellow Nigerians, urging them to live within their means, reduce unnecessary expenses, and prioritize essential needs to maintain a decent standard of living.
Another resident, who preferred to remain anonymous, expressed her dismay over the current state of the economy, particularly its impact on large families.
She acknowledged that many households are struggling to afford nutritious meals and emphasised the need for the government to implement policies that alleviate the suffering of the masses, as the worsening economic situation may lead to an increase in crime rates.
She urged Nigerians to be proactive and resourceful, suggesting side hustles and skill development as ways to supplement income.
For mothers dependent on their husbands, she encouraged them to seek employment to support their families. Additionally, she emphasised the importance of prayer during challenging times.
Chioma Eze, another resident, highlighted the importance of side hustles as a means of survival. She advised people to explore various income-generating opportunities, such as starting PoS businesses or using their cars for ride-sharing services like Uber.
She also emphasized the potential of online sales and the benefits of acquiring digital skills, as technology provides opportunities to reach a broader audience.
Given the challenges posed by the removal of fuel subsidies and increased transportation costs, Eze advised people to avoid unnecessary travel and opt for walking short distances.
She called on women to adopt a more frugal lifestyle, advising them to reduce expenses and adapt to their income levels, whether as salary earners or business owners.
Prime 9ja Online concludes by noting that the present government's policies have not lived up to its pre-election promises of making life easier for Nigerians. The economic reforms have brought about hardships for citizens since taking office.