Amid the rising cost of food, fuel, school fees and rent, many families in Ibadan, the Oyo State capital, have adopted new strategies to cut costs and keep their households running, a News Naija survey has revealed.
The survey, which covered families in areas such as Bodija, Challenge, Agbeni and Apete, shows that families are no longer spending as they used to. From food management to energy use, every naira is now being stretched.
The first major cut for most families is in food spending. Mrs. Bose Adeyemi, a mother of four and a trader at Bodija market, told Newsnaija that her family now buys foodstuff in bulk and cooks in larger quantities. Instead of daily cooking, she prepares soups for the week and stores them in the freezer, which reduces gas usage and prevents waste.
Many families have also reduced their dependence on meat and fish, which have become expensive. Mr. Sunday Okoro, a civil servant, said his family now observes two meat-free days weekly, replacing them with eggs, beans and vegetables. “We also buy directly from farms in Moniya on Saturdays because it is cheaper than the city market,” he said.
Transportation is another area where families are making adjustments. With fuel prices still high, families like that of the Lawals in Akobo have embraced carpooling and public transport. Mr. Lawal said he now drops his children at school on his way to work instead of paying for a separate school bus, while his wife uses commercial motorcycles only when necessary.
Energy costs have also forced families to change habits. Several households told Newsnaija they have switched to energy-saving bulbs, unplug appliances when not in use, and limit the use of generators to a few hours at night. Some families in Apete said they have invested in small solar panels to power fans and charge phones, which has cut their monthly fuel expenses.
On school-related expenses, parents are cutting costs by recycling uniforms, buying second-hand textbooks, and sharing lesson notes. Mrs. Funmilayo Adesina, a mother of three, said she now joins other parents in her children’s school WhatsApp group to exchange used books and uniforms. “We no longer buy new books if we can borrow or buy fairly used ones in good condition,” she said.
Financial experts say these adjustments, though difficult, show financial discipline. Mr. Kolade Akinwale, a family finance counsellor in Ibadan, said families that plan their spending together survive better. He advised families to create a monthly budget, involve children in understanding the need to cut waste, and avoid impulse buying.
He added that families should prioritise needs over wants, maintain a price list to track market changes, and embrace home-based alternatives for entertainment, such as family games and home movies, instead of expensive outings.
For many families, cutting costs is not about suffering, but about survival and wisdom. As one resident, Alhaja Rukayat Morenikeji, put it: “We are not poor, we are only managing our resources wisely so that we can still send our children to school and sleep with peace of mind.”