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        Home»Business»Economic Hardship: Abuja Traders, Consumers Lament Increase In Food Prices
        Business

        Economic Hardship: Abuja Traders, Consumers Lament Increase In Food Prices

        National RecordBy National RecordOctober 23, 2024Updated:October 23, 2024No Comments6 Mins Read
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        By Okeoghene Akubuike

        BOTH traders and consumers in the Federal Capital Territory (FCT) are lamenting the sharp increase in the prices of food items, a situation which continue to worsen the hardship of Nigerians.

        Traders and consumers in the FCT who spoke to the News Agency of Nigeria (NAN) on Wednesday blamed the increase on in the hike on the price of petrol.

        Prices of food items such as rice, beans, garri, fruits, vegetables, eggs, and vegetable oil, among others have witnessed a significant increase since the pump price of petrol increased from an average price of N870 to N1,200 per litre.

        A market survey by NAN in the FCT revealed that a bag of cucumber was being sold for N55,000 as against N20,000 to N25,000 before the petrol price increase, while a cartoon of apple was being sold for between N76,000 to N80,000 as against N40,000 to N42,000.

        Also, a bag of cabbage was being sold for between N20,000 to N25,000 as against N10,000, while a bag of carrots was being sold for between N40,000 to N55,000 as against N35,000.

        A kilo of chicken was now being sold for between N4,500 and N5,500, while a carton was going for between N45,000 to N55,000, while a kilo of panla fish was going for between N4,000 to N5,000 and a carton was being sold for between N40,000 to N47,000.

        A kilo of goat meat was presently being sold for between N6,000 to N7,000 as against N5,500, while a kilo of cow meat was being sold for N6,500 to N7,000 as against N6,000.

        NAN reports that a crate of egg was being sold for between N7,000 and N7,500 as against N6,000 and N6,500, while half a bag of Garri was being sold for between N36,000 to 38,000 as against N34,000.

        A medium basket of tomatoes was being sold for between N10,000 to N15,000. A bag of 50kg rice is selling for between N84,000 to N120,000.

        Stella Ayanwu, who sells frozen food in Nyanya Market, attributed the increasing cost of food items to the increase in transportation fares.

        According to her, to transport frozen foods from Kado Market before was N1,500 but now they pay N5, 000. She said as a result, the price has to go up.

        “We really feel for our customers but there is nothing we can do. Everybody is suffering from it, we too have needs to meet,” she said.

        Also, Salisu Abubakar, a fruit and vegetable seller in Wuse Market, said the cost of transporting fruits and vegetables from Orange Market in Nasarawa State had tripled in price because of the fuel increase.

        “For example, before the price of petrol increased, a bag of cabbage was N10,000 but now it is N20,000 and a bag of carrot was N35,000 but it is now N55,000.

        Mr Chinedu Okeke, a trader in Garki Market said the prices of almost all food items and commodities have increased because of the increase in fuel price.

        According to him, prices change by the hour which has become alarming. There is no fixed price for any food item again, from garri to rice to even maggi, Okeke said.

        “For example, yesterday, groundnut oil was selling for N70,000, now it is selling for N85,000. Our customers are really lamenting. Many just buy in small quantities and leave.”

        Mrs Binta Idris, a public servant said the increase in food items had become unbearable, especially with the increase in the price of petrol which was making life so difficult for her and many Nigerians.

        “I bought one kilo of chicken two weeks ago for N4000, last Saturday it increased to N4,500 and today it is now N4,700. Some people are selling for N5,000 and N5,500 per kilo.

        “I usually buy one custard bucket of tomato for between N2,000 and N2,500 but yesterday it was sold for between N3,500 and N4,000.

        “So, every time you go to the market, there is an increase, how can we continue coping with this?

        “The government really needs to address the issue of fuel because it is affecting food prices because transportation has gone up,” she said.

        Mr Chukwuma Eze, a businessman said: “when we thought the price of some food items was coming down because of the farming season, we woke up to another increase in fuel price and it has affected the prices of food items.

        “I bought a mudu of beans for N3,500 in September, when I went to the market a few days ago, it is now N3,600. Also, a mudu of rice was N3,000 two weeks ago but it is now between N3,200 to N3,500.

        Eze appealed to the government to act urgently to address the issue of the increase in petrol price which he said was causing hardship to households and businesses in the country.

        Mrs Ejiro Jonathan, a banker, said that there was a need for the government to address the issue of the increase in petrol prices because it was causing severe hardship to Nigerians.

        “The government must know that with every increase in petrol price, Nigerians will suffer because petrol affects the price of transportation.

        “When transportation fares are high, food prices will surely increase. Many Nigerians can’t afford a decent meal anymore.

        “We plead with the government to address this issue of fuel once and for all. If they need to review their policies they should please do so,” she said.

        Mr Sunday Peter, an Economist and Agro Consultant, said the increase in food prices was a result of the increase in the price of petrol.

        Peter said that most food items doubled in price as soon as there was an increase in fuel price.

        “When the farmers come from the farm they have to meet their own domestic needs, so they increase the prices because the person who is also carrying the goods from the farm to the market has increased his own cost of transportation.

        “These are some determiners of the prices of foodstuff but majorly the cost of transportation is a major determinant to the increase in food prices.

        “If the government wants to have a serious impact on the reduction in the prices of commodities, the governments need to reduce fuel prices and they are aware which policy will achieve this.

        He advised that the government open the market to enable more people to have a licence to import fuel, adding that the refineries should be fixed.

        “This will help bring prices down but when there is no competition, we will continue to have the same challenge we are having as far as prices of commodities are concerned,” he said. (NAN)

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