By: Sonaike Peter 

Starting his academic journey at the premier University on February 1, 2022, Adegbayi, a 300 level resident from the Great Independence Hall of Residence, initially thrilled, had anticipated a ‘smooth’ campus life. His needs, correspondingly met, afforded him flashes of memory he easily would recount. His ever-promising father was always quick to hand across to him a weekly allowance worth five thousand naira, plus other innumerable supplies as time demanded.

For Adegbayi, as he is fondly called, money was never an issue during the paging of his freshman chapter. He had a support system to fall on whenever the roads were rough. His generous father would promptly cover any educational and feeding expenses. Life on campus seemed almost perfect and as such his matching focus on studies felt no stress.

His advantages, only fresh in its time, plunged eventually southwards. The rhythm changed with the implementation of a cashless policy introduced towards the end of former President, Muhammadu Buhari’s administration. Recalling, the Central Bank of Nigeria had disclosed its plans to begin a transition to a cashless economy as its ambition to become one of the best 20 economies before year 2020. The aim was to reduce the number of naira notes and coins used for business but not to eliminate cash usage in its entirety.

The gutsy effect of the policy on Adegbayi’s father, a small-scaled businessman and civil servant, was an inability to sustain his parental responsibility, among which was to send regular stipend to his son.

In out-turn, Adegbayi comfort switched and relied on credit from vendors. He would repay them once his father’s delayed stipends arrived. The cashless policy drained Adegbayi’s savings. As a student without a side hustle, Adegbayi found it difficult to concentrate on his studies and campus activities whenever his stipend gets exhausted.

“These days, I don’t really enjoy my stay in school due to the little stipends I get from home. In my 100 level days, life was a bed of roses. I could afford anything I ever needed and wanted with my savings and my father’s consistent financial pampering. But now, things have fallen apart.” Adegbayi  told IndyPress while reminiscing .

Pelumi Emmanuel, a 100 level student of English, faces his own predicament as he is forced to face the current cost of living with an unstable allowance and no other source of income. His unstable stipend varies significantly, sometimes being as low as ₦5,000 for two weeks or just ₦10,000, despite narrowly having a modest stock of food. This unstable income often leaves him struggling, especially when unexpected expenses arise. Recently, he had to dip into his food budget to purchase essential Ges textbook due to a delay in funds from his parents. 

Pelumi shared with IndyPress that his limited funds prevented him from maintaining a proper diet and focus on his studies, especially when he runs out of money and his family cannot provide immediate support. In his words, “any parent that wants to send his child to school should have enough funds to cater for that child throughout his university years.” 

Unlike Adegbayi and Pelumi who rely on their parents’ allowance on campus, David, a resident of the Great Independence Hall, supports his educational needs through a side hustle. During his first year, David received a ₦20,000 monthly allowance from his parents, which covered his expenses. However, as his parents faced increasing financial pressures some of which were related to his academics, David decided to reduce the burden on them and majorly provide for himself. Now a freelancer, David manages to meet his basic needs through his side job without depending on his parents. He shared with IndyPress that while his earnings from freelancing aren’t substantial, his prudent spending helps him avoid running out of funds.

David emphasized that his freelancing work does not interfere with his academic performance and encouraged other students to explore similar opportunities to become financially independent. “The economy is not smiling and as a  result, there is a limit to what parents can do for their children on campus. Students have to try their luck by engaging in side hustle in order to help themselves,” he said.

Tayo, another resident of the Great Independence Hall also faces significant challenges in campus life due to the low stipend he receives. The not so great situation worsened after his father’s passing in 2022, leaving him with an unstable stipend that would sometimes drop to as low as #5,000 per month. 

The financial strain has negatively impacted Tayo’s grades and academics, making it difficult for him to fully concentrate on his studies. Although Tayo, who studies Education and History, possesses a valuable skill in photography that could help support him, he however lacks the capital to establish himself. Occasionally, he receives a stipend from a relative, with limited resources to cover his educational expenses. Despite these hardships, Tayo remains grateful for the stipend he does receive, even though it is insufficient.

“Though, we all come from different places, and our parents are not the same. The stipends received from my own parents at home is nothing to write with, but at least I appreciate the little I’m seeing from them. But it doesn’t amount to anything in this current situation,” he said.

Daniel, a 300-level Political Science student, relies on a modest but erratic stipend of 10,000 Naira to navigate campus life. This financial uncertainty often leaves him struggling to cover his basic needs.

Daniel recalled that during his first year on campus, he faced a severe shortage of funds and food, leading to an emergency hospitalization at Jaja Clinic. However, the generosity of his fellowship members occasionally alleviates his difficulties. Reflecting on his situation, Daniel shared with IndyPress that his current stipend is insufficient to meet his needs.

“The truth is that my stipend from home is #10000 and it is never enough to cater for my needs,” Daniel told Indypress.

Can students’ needs be met?

Students on campus face a multitude of challenges. While parents may cover tuition fees, university education is still quite costly. For those living off campus, transportation expenses can add up quickly. Students in school hostels often rely on kerosene for cooking, which can be particularly expensive.

Excel, a resident of Awo Hall, shared that she spends 1,600 naira weekly on kerosene. In addition, students incur costs for textbooks essential to their studies and beverages like coffee to help them stay awake during late-night study sessions.

In this tough economic climate, countless students are grappling with financial challenges. Many rely on their phones for studying, but when these crucial devices break, they often can’t afford timely repairs and their academics may suffer as a result.

This situation has led to a trend where some students attend campus events mainly for the free giveaways, commonly known as “item 7,” rather than for socializing or networking.

Financial instability affects attendance, with some students opting to skip classes due to lack of funds. For example, Jonathan, a 300-level education student, missed classes for an entire week as he went home to get food supplies from his parents. Even those who manage to attend classes often struggle to concentrate because of their financial situations. Some students’ grades suffer as they balance their studies with side hustles to make ends meet.

The current inflation has exacerbated these issues. Many students continue to receive same allowance as they did two years ago. As a result, numerous students live on credit and find it difficult to repay their debts, often avoiding their creditors. These struggles reflect the harsh realities of some students on campus.

Alao Success, a 300-level Economics student, discussed the challenges posed by inadequate financial support for students. He attributed the low stipends to inflation and the devaluation of the naira, arguing that such economic factors adversely affect students’ academic performance by discouraging them from focusing on their studies.

Success called on the government to address inflation, emphasizing the need to prioritize local production and improve security to alleviate the financial strain on students. He also advised students to utilize their breaks or holidays to seek work opportunities and bring sufficient food supplies to campus, given the rising cost of living. Furthermore, he urged parents to consider increasing their children’s stipends to help them manage better while studying.

“Parents should raise the stipends for their children, and ensure that students are provided with sufficient food. Lack of proper nutrition can negatively impact students’ mental and psychological well-being, hindering their ability to concentrate on their studies, which in turn can affect their grades. Generally, higher stipends lead to better academic performance,” Success stated.

“The government should make significant investments in local produce to reduce reliance on imports. This approach would help lower costs and make goods more affordable,” Success concluded.