Posted by Kolade Stephen. on 25 December, 2022 under Naija News
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The Christmas season is supposed to be a period to make merry, buy and give gifts, travel and visit lovely places, friends and family.
However, doing any of these this festive season may be very difficult for Nigerians, as they are lamenting their inability to afford the constantly increasing prices of food and services which might make their celebration a bleak one.
The rising cost of goods and services is not unconnected to the high exchange rate caused by the bad economy. Also, the recent flooding had washed away many farmlands and farm produce in many parts of the country, making it almost impossible for many to harvest their crops.
The flood also destroyed many roads which has hindered the transportation of fruits and food items. Most of these items eventually get spoilt. Hence, to recover what they’ve lost due to the flood, they hike the price of their food items.
The recent rise in cost of fuel and the persistent fuel scarcity has also led to the hike in the intra-state and inter-state transport fares which has also contributed to the high cost in the prices of foods.
According to findings, the price of a bag of rice, frozen foods, palm oil and vegetable oil, clothes, amongst many others, recorded between 100 and 200 percent increase. The cheapest local rice in the open market in Lagos is being sold at N40,000 per 50kg bag while Foreign rice was sold for N50,000 per 50kg bag. Also, a large size chicken that’s usually consumed with chicken, now sells for N12,000.
Hakim Korede, a businessman lamented the escalating prices of goods and services saying,
“That is the criminal traits that is common now in Nigeria, Petro & Gas pump adjusted, frozen food scale, Paint of foodstuffs, Clothes measurements is now 34cm instead of 36cm, SKU, Quality Assurance (FCMG) adjusted for profits, price still high. Is the govt doing us?â€
