Since January 2009, the Consumer Price Index measured for all items has risen by a factor of 4.25. If you isolate food items alone, that increase goes to a factor of 5. This means that a loaf of bread that cost ₦100 Naira in 2009, costs ₦500 today, which is precisely the cost of a loaf of bread in many places in urban areas. This increase is also seen in non-food items. An Apple iPad cost ₦59,000 in 2011, but now costs nearly ₦500,000. A used Toyota Corolla cost around ₦650,000 in 2011 but now costs over ₦2.5 million. Some of these increases are driven by the decline of the Naira against the Dollar, which has gone from ₦145 USD in January 2009 to ₦404 today at official rates, depreciation of 180%. In summary, no material change in the lives of many is possible when the total cost of all items in an economy goes up by an average of 326% in 12 and a half years. Policymakers must confront these runaway price increases that are destroying purchasing power and consigning Nigerians to hunger and poverty.