In my country, Nigeria, a medium-sized generator set is so expensive not all can afford it. There was a time, not too long ago back in 2019 when N70,000 could get you a powerful generator set capable of supplying many appliances. Fast forward to today 2022, that same generator set would cost you double if not triple the amount. The inflation rate in my country is so bad and hopefully does not get worse.
The FIRMAN below cost me N80,000 in 2019, today this same generator is N220,000. Amongst others. I wanted to purchase a new generator set today and it hit how far Inflation has hit us. How do the masses survive on this? There is a popular name given to low-end generators, we call it 'I better pass my neighbor'.
This usually has 0 - 1.3 Kva. This doesn't handle much. You could get this set for N30,000 - N40,000 three(3) years ago depending on your location. Today here is the price tag for the Maxi Generator set for that specification. It is crazy I tell you!
Nigeria’s inflation rate hits a 65-month high of 18.6% in June 2022. Extending to 21.6% in July 2022. How hard is inflation hitting on your country? Let me know below. Thank you for reading.