Food prices tripled, traders expect further rise, fear low patronage

Many cancel, adjust travel plans for Christmas as transport fares keep rising

Many families risk celebrating the approaching Christmas and New Year in hardship due to the hike in the prices of goods and services, and are devising life-changing ways to cut costs, findings by Saturday PUNCH have revealed.

Several families told our correspondents that life had become tougher for them as a result of the economic hardship in the country occasioned by the rising inflation of goods and services following the removal of subsidy on petrol.

As a result, many of the people who spoke to Saturday PUNCH said the Yuletide season would be low-keyed, adding that they might not make the usual trips to their hometowns as a result of the high cost of transportation and rising inflation.

According to official data, 63 per cent of Nigerians or 133 million people are currently living in multidimensional poverty.

A recent United Nations report stated that over 40 million households in the country were poor.

Nigerians from different walks of life, who spoke to our correspondents, revealed that they had resorted to borrowing, selling some of their valuables and adopting other cost-cutting measures as a result of the drastic increase in the cost of living.

Several experts have opined that if nothing is done to arrest the drift, millions of Nigerians will fall below the poverty line.

The National Bureau of Statistics in its Customer Price Index for October revealed that the headline inflation rate increased to 27.33 per cent relative to the September rate of 26.72 per cent.

This indicates that the country is facing its worst cost of living crisis in about 20 years.

Food prices soar

The prices of many staple foods like rice and beans have almost tripled, according to a survey conducted by Sunday PUNCH.

Our correspondents who visited markets across Lagos and Ogun states report that a bag of rice now sells for around N55,000 as opposed to N48,000 in October.

A frozen food seller in Mowe, Ogun State, who identified herself simply as Mrs Makinde, disclosed that the prices of frozen fish, chicken and turkey had more than doubled in the last two months.

Many traders also anticipated that the prices would rise further before the peak of the festive season.

Makinde said, “I sold a bottle of palm oil on Thursday for N1,200. As of Friday, it had increased to N1,400. Before the end of next week, it may get to N1,800, or even N2,000 because the producers may go on break.

“As for rice, I was able to buy a bag for N48,000 a few weeks ago. As of yesterday (Thursday), when I reached out to my supplier, he said it was now N55,000 for the long grain and N52,000 for the short grain.”

Another trader, Mr Opeyemi Debo, said a carton of tomato paste that was sold for around N2,500 in November was now selling for N5,500.

He said, “A bucket of powdered pepper now sells for N4,500 from N2,500. A carton of stockfish (panla) now sells for N24,000 from around N15,000, which it sold for last month.

“A bucketful measure of egusi (melon), which sold for around N4,000 last month, now goes for N5,500. A bucket of onion, which used to be N3,000, is now N7,000.

“A carton of chicken now ranges between N32,000 and N34,000 as opposed to N22,000, which it sold for in September and October.

“Turkey now sells for N55,000 for a carton as opposed to N35,000 in October.

“Chicken wings now sell for N35,000 a carton. Five litres of palm oil now sells for N5,000 from around N25,000 in October.

“A paint bucket of yellow garri is now N2,000 as opposed to N800 two months ago. A carton of gizzard is now between N38,500 and N42,000, and I can tell you that it will increase. As for rice, it may sell for N60,000 before Christmas.”

Reduced patronage

A Lagos-based trader, Mrs Ilerioluwa Bamisaye, expressed concern that the increase in the prices of foodstuffs might reduce patronage during the festive period.

According to her, as food prices soar, many families may not be able to afford to celebrate the festive season as they should.

Bamisaye said “I doubt people will come out to buy much this year because the prices of items have tripled. A pack of spaghetti we were selling between N7,000 and N8,000 is now N13,000. Rice is now food for the rich. A bag of beans is now N120,000; whereas before now, it was N70,000. Customers are always asking us for cheaper protein alternatives like shawa (herring fish) and eggs, as well as ponmo (cow hide).”

Another trader in the Ibafo Market, Ogun State, Mrs Opeyemi Jude, who sells wholesale, lamented that the Yuletide season was not reflected in her sales.

“It doesn’t even seem as if we are preparing for Christmas. Around this time last year, many people were coming to buy bags of food items. We all know what is happening now. We only appeal to the government to put the economy in shape so that people will celebrate the season with joy. It is so disturbing that the amount you buy today will be different from what you will get for tomorrow,” she said.

On her part, another trader, Opeyemi Adediran, noted that a portion of tomatoes sold before at N100 was now selling for N500, while pepper increased to N200 from N50 for a portion of five balls.

A fish seller, Mrs Titilayo Oloyode, stated that the mackerel fish (Titus), which sold for N700 last year, was now selling for N1,400 each.

“A carton of Titus fish has increased from N7,000 around April to N57,000, while Kote fish (horse mackerel) now sells for N38,500 per carton instead of N9,000 before subsidy removal. Twenty kilograms of Alaska fish sold for N4,500 before, but currently sells for N26,000,” she noted.

Businesses suffer

Speaking on the increase in the prices of food items, a foodstuffs seller in Lagos, Mrs Oluwatosin Olanrewaju, explained that a bag of potatoes, which sold for between N2,500 and N3,000 about six months ago, currently sells for N8,000.

According to her, a medium-sized tuber of yam now sells for between N1,000 and N1,500 instead of between N500 and N700 earlier in the year, noting that the increase in prices of commodities had led to a reduction in patronage.

She also stated that transportation fare from the North to Lagos had increased from N1,500 per bag to N5,000.

Olanrewajusaid, “I don’t have many people patronising me like before because of the bad economy. I should have gone to buy more goods last week, but you can see that I still have many tubers of yam, which I bought four days ago. If it was last year, they would have finished in two days. People are now opting for potato instead of yam because it is cheaper.”

Another trader, Happiness Bitrus, explained that local and foreign rice (small grain), which sold for N1,500 and N2,000 per plastic measure before, currently sells for N3,800 and N4,500, respectively.

She added that a bag of foreign rice (small and big), which sold for N33,000 and N40,000 earlier in the year, now sells for between N47,000 and N55,000, respectively.

A big bag of beans (drum variety) currently sells for between N110,000 and N115,000, while a small bag sells for N52,000. Before the removal of petrol subsidy, the item was sold between N35,000 and N40,000.

On her part, a tomato and pepper trader, Rachael Adebalogun, said, “The rising prices are not our fault because a bag of pepper before was between N10,000 and N15,000, but it is now sold for N50,000.

“A basket of tomatoes is now N15,000 but it was N8,000 before, while the small bag and the big bag sold for N15,000, but now it is between N70,000 and N80,000. A bag of onions that we bought for N20,000 and N30,000 before is currently sold for between N130,000 and N230,000. The government should pity us. Customers are complaining and they always lament when they come here.”

Families cut costs

A mother of five, Madam Uka Osondu, said her family had dumped chicken and turkey from their meals since July.

“We now eat ponmo, Shawa and Kote fish. We eat eggs sometimes but not all the time. We eat more of jollof rice and not rice and stew because we have found out that it is cheaper. This Christmas is not looking like Christmas at all. My children have been complaining but there is nothing we can do about the situation,” she said….