The removal of the fuel subsidy in the country has many people questioning how to navigate their daily activities that in one way or another, rely on petrol. What the subsidy removal has come to mean for Nigerians is that pump prices have gone up, leaving many unsure how to fuel their cars and most importantly, continue to run the appliances in their homes that require petrol. In this piece, we’ll be giving you five hacks that will help you navigate the current economic effects of fuel subsidy removal.
One sure way to subvert the effects of the fuel subsidy on power supply is by using solar-powered inverters. With the pump price now at an all-time high, investing in solar panels and inverters is a really great step in ensuring you aren’t unable to fuel alternative sources of power such as generators, that require petrol to run. Solar panels, in addition to saving costs in the long run, are also an eco-friendly alternative.
Rethink Power Usage
The removal of the subsidy also brought with it a horde of price increases across other sectors, including tariffs. A great way to avoid raking up a high “NEPA” bill, is by thinking seriously and economically about how you use power. Not everything in your home has to be turned on at the same time once the power comes on. Even your fridge and freezers can use some rest time. An effective hack to employ when thinking about how to properly use power is to consider appliances that serve an immediate or helpful long-term purpose, against those we think serve a purpose. The distinction is often very easy to spot, but even easier to ignore if we aren't paying attention.
With most people now living from paycheck to paycheck, using Spleet allows you the chance to rent monthly in the place of paying a hefty annual rent that will leave a huge dent in your finances or rent savings. Spleet also allows you to list your space, so you too can turn a spare room you aren’t using and turn it into a Spleet space to earn extra cash. Lastly, you can also consider co-living and splitting the bills on Spleet for even more ease.
In these times, it is essential that we rethink many aspects of our everyday expenses. If you are one to take a cab home by yourself, consider getting one cab with a friend or work colleague and splitting the bill equally. That way, you arrive home safe, but for half the price you would have had to pay. You may also want to consider hitching a ride with people you are familiar with who have cars and go in the same direction as you. To make this arrangement better for you and for whoever is offering the ride, please do not hesitate to offer some money to help them fuel their car.
Buy More, Buy Sensibly
With the hike in prices, it only makes sense to be extra cautious about what you buy in and for your home. It is important, if you care about saving some money and surviving the current times, to look for less expensive options when shopping. And when you do find that option, make sure to stock up as much as you can so that you spend less money on eating out or unpredictable, indulgent expenses. Stocking up for longer also guards you away from unprecedented price hacks, meaning that you will have some respite before having to purchase at a high price again.
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