Skyrocketing food prices overwhelm Christmas celebrations across Nigerian markets
As Nigerians prepare to celebrate Christmas, many are facing a subdued holiday season due to escalating food prices and transportation costs. In markets across the country, including Lagos, Abuja, Rivers, Kano, Sokoto, and Kaduna, traders report significant declines in sales, attributing the downturn to inflation and rising transportation expenses.
Abuja’s Bwari Market, tomato seller Ali noted that a basket of tomatoes now costs N45,000, up from N30,000 last December. Similarly, broilers, which sold for N15,000 to N20,000 last year, are now priced above N25,000. In Lagos’ Ile Epo Market, a 25-liter container of groundnut oil has surged from N41,000 to N95,000, while a bag of sweet potatoes has jumped from N25,000 to N80,000. Staples like rice, yams, and poultry have experienced over 100% price hikes. _(Punch)_
Traders attribute rising transportation costs to the increase in food prices. At Tejuosho Market in Lagos, vendors report that transportation expenses now heavily impact the cost of goods like tomatoes, peppers, and poultry. The poultry sector has been particularly affected, with feed and transportation costs causing price spikes. A chicken seller in Abuja revealed that the price of live chickens has risen by 75% to N35,000. Similarly, at Karimo Market, a 50kg bag of rice now sells for N85,000, up from N52,000 last year.
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Consumers are expressing frustration at their reduced purchasing power. A shopper at Bwari Market noted a fourfold increase in onion prices, while a resident of Kaduna lamented the soaring costs of staples like garri, meat, and cooking oil. Despite efforts to find affordable deals, many buyers are scaling back festive plans, prioritising basic meals over traditional celebrations.
In July, the Nigerian government announced plans to suspend taxes on imports of certain food items, including wheat and maize, for 150 days to address rising food prices. Agricultural Minister Abubakar Kyari stated that this policy aims to mitigate food inflation by making food more affordable and available. The government also plans to import 250,000 metric tons each of wheat and maize to support small-scale processors and millers.
As the festive season approaches, Nigerians are grappling with economic challenges that have led to soaring food prices and transportation costs. While government initiatives aim to alleviate these issues, many citizens are adjusting their holiday plans to cope with the current economic realities.
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