The document discusses several economic issues in Nigeria that impact personal income. It notes that high and unstable inflation leads to higher costs of goods and services that encroach on personal budgets. Income increases often do not keep pace with inflation. Substandard goods flooding the market means assets break down quickly, requiring replacement spending. Poor infrastructure like roads and electricity forces spending on maintaining generators and vehicles. Lack of social security means supporting extended family, increasing dependency. Unemployment leads to supporting others. Social pressures to spend on appearances further strain budgets. Polygamy, high education costs, business failures from not distinguishing capital from profit, fraud, and corruption also reduce personal funds available.

1. Understanding the Nigerian Economy and other Economic Issues that impact on Personal Income

3. Economic Issue: Rate of increase in Personal Income trailing far behind inflation rate. Implication: Your income is fairly steady while prices rise arbitrarily – you spend against your plans.