Inflation: We can no longer buy foodstuffs in large quantities-traders, consumers lament
Traders and consumers in Anambra, Ebonyi, and Enugu States have lamented the worsening economic situation occasioned by skyrocketing inflation, saying they could no longer stock their shops and homes with foodstuffs.
They made their feelings known in market surveys conducted by the newsmen in the three states in the South East Zone.
The respondents, who conducted a market survey in the zone, observed that prices of foodstuffs such as garri, beverages, rice, beans, tomatoes, eggs, and noddles are still increasing in the zone.
They said that the situation had made it difficult to buy goods in large quantities to store in their shops and homes as they used to.
A food seller at Ogbete Market, Enugu, who pleaded anonymity, said the inflation was worse in food commodities, making it difficult for average Nigerians to feed well.
She wondered how the low-income earners and the poor people would survive in the present difficult economic situation, which, she said, was not improving anytime soon.
A rice seller, Mrs. Chioma Edeamu, at the Mayor Market, said that the high cost of rice in the country would persist if the government did not do something urgently to address food insecurity.
She said that rice, which was a staple food for many Nigerians, was now considered a luxury for the rich, as a 50-kg bag of foreign rice was selling for between N85,000 and N90,000, while the local rice now sold for between N60,000 and N65,000, depending on the brand.
According to her, in the previous years, I would stock my shop with bags of rice in different sizes ranging from 10kg to 50 kg, but now it’s no longer possible because of the astronomical cost.
A lady who runs a provision store at the New Heaven Market, Miss Obageli Ogbodo, said she was on the verge of closing down her shop as she could not cope with the soaring prices of goods in the market.
Ogbodo lamented that most of her customers, who preferred to buy soft drinks like Coca-Cola and others, have stopped doing so, especially with the price adjustment to N400 per bottle as against N200 previously sold.
The survey showed that a cup of garri, which was N150 between February and March, now goes for N250, while a 5-litre paint bucket is sold for between N3,300 and N3,500, depending on the brand of white and yellow garri.
Similarly, the current price of a bag of garri is N62,000, as against N40,000 sold in March.
Mrs. Nneka Nnamani, a garri seller at the New Market, said that the only way to reduce the high cost of garri would be by securing farmlands and stopping the exportation of the produce to other countries.
Nnamani said exportation of the commodity had affected the availability of the produce in the country.
A buyer, who spoke on condition of anonymity, attributed the high cost of living in the country to the subsidy removal of petroleum products.
A bag of beans, which was N135,000 in March, now sells for N155,000; a five-litre painter bucket of beans now goes for between N5,000 and N5,800; and a cup of the commodity is sold for N350.
The price of a carton of Super Pack size Indomie noodles had also gone up to N13,000 as against its former price of N9,200.
Again,the price of a crate of eggs had increased to N3,800 and N4,000, depending on the size, as opposed to its former price of N2,600.
A big basket of fresh tomatoes now goes for N55,000 as against N35,000, while a five-litre bucket of tomatoes now goes for between N4,500 and N5,000 as against N3,000.
Meanwhile, buyers and sellers are lamenting that the increase in the price of staple foods has increased hunger in all families in the country and that they can no longer buy foodstuffs in large quantities as usual.
Mr. Madukanaya Ilo, a grain dealer at New Market, Enugu, said he could no longer buy as large quantities of beans and rice as he used to some months ago because of their increased prices.
”I can no longer buy in bags due to the increase in the prices of foodstuffs. It is becoming unbearable,” he said.
The traders and customers blamed the increase in the prices of foodstuffs on subsidy removal, a rise in dollars, and multiple taxes.
However, some stakeholders in the agricultural sub-sectors in Ebonyi have decried the state of economic hardship caused by the incessant hike on food items in the country, noting that only price control on food commodities can save the nation.
The stakeholders, who expressed worry over the rising cost of food items and the increasing inflation rate, maintained that price control on all commodities would go a long way in achieving food security.
Mr. Chinyere Mathew, a provision shop owner along Ugwuachara, Mile 50 layout, Abakaliki, alleged that the producers were responsible for the hike in food items and other beverages across the states of the federation.
Matthew, however, moved support for the federal and state governments to make stronger policies backing price control, especially on food commodities.
Mr. Christopher Onu, seller of food items such as rice, beans, garri, palm oil, and tomatoes, among others, expressed worry about how household owners are passing through difficulties.
“We, who are selling, are not finding it easy. We are just changing money to keep body and soul.
“Check around the market; currently, 50kg of Abakaliki rice is sold between N58, 000 and N60, 000 against N35, 000 and N30, 000, respectively, in January and February 2024, depending on the grade.
“The 25kg of foreign rice is currently selling between N 30, 000 and N 32, 000, as against N 17, 500 and N 13, 000.
“A big custard container of garri goes for between N2, 500 and N3200 as opposed to N1, 200 and N1, 500, depending on the grade in the previous months.
“Custard rubber measured from iron beans also goes for between N5, 000 and N6, 000, as against N2, 000 and N2, 500,” Onu said.
Mrs. Chinwe Nwankwo, a customer, described the development as unfortunate for the nation and a giant of Africa.
On the cause of the increasing hike on food commodities, Nwankwo attributed the situation to the cost of transportation occasioned by fuel subsidy.
Mrs Jane Onwe, the tomato dealer, said that a half basket is sold between N43, 000 and N40, 000, as against N19, 000 and N22, 000 in Jan and February.
Onwe frowned at the situation and said it was astronomical to bear.
“Half basin of garri is sold between N18, 000 and N25, 000 depending on the brand, as opposed to N9, 000 and N11, 000 sold in previous months,” she added.
Dr. Ignatius Unah, Chairman, All Farmers Association of Nigeria (AFAN), also urged the government at all levels to make a policy on price control to checkmate the situation.
Mr. Linus Nkwuda, Chairman of the Abakaliki Rice Mill Owners Association, said the current high cost of rice has never happened in the history of rice production in the state.
Nkwuda called for government intervention to arrest the situation and boost food production to reduce hunger,” the chairman added.
Market surveys in Onitsha, the commercial city of Anambra, show that prices of goods, particularly food items, have refused to come down despite the speedy appreciation of the Naira against the dollar and other major foreign currencies in recent weeks.
Supreme News reports that the naira recorded a gain of about N840 as it recently traded for N1,060 as against N1,900/US dollar in February this year.
A visit to the Ose-Okwuodu market by newsmen shows that the prices of foodstuffs have remained significantly high despite the US dollar suffering depreciation against the naira in recent days.
The survey further revealed that prices of food items were not consistent with the significant gain the naira recorded in the past few weeks against the dollar.
The price of 50kg of local rice that was formerly sold for N70, 000, still sells for N68, 000 in Ose-Okwuodu market Onitsha.
Investigation reveals that a carton of spaghetti that was sold for N19,500 now sells for N16,500, while a carton of tin tomatoes still remained at its old price of N7, 000 to N8, 000, depending on brand.
A trader at Ose-Okwuodu market Onitsha, Mrs Ijeoma Chukwuebuka, blamed the non decline in prices of commodities on old stocks which he said, the traders needed to sell off before a price slash would be effected.
“Most of us had stocked our stores during the period that dollar was high against the naira, you don’t expect us to start selling them at cheaper rate now.
“If we sell at the rate at which the US dollar is now, with the high cost of transporting of the goods from one point to the other, we will run at a loss.
“Government should ensure they sustain the monetary policies, ensure the naira keeps gaining strength against the dollar, on a long run, prices of food items and other commodities will drop in prices,” she said.
A consumer, Mr Anthony Okoye, blamed the hike in prices of commodities in the market on the continuous increase in dollar, insecurity and high cost of transportation in conveying the goods.
“Government should ensure the naira keep gaining momentum against the dollar, reduction in insecurity across the country and reduction in the cost of diesel.
“If all of these is achieved within the next few months, food items will be more affordable by the common man without fear”, he said.
In Awka, the Anambra state capital, a market check conducted on the prices of food items by the NAN across markets in Awka, shows that prices are much higher compared to few months ago.
The survey shows that a paint bucket of fresh tomatoes, which went for N3,500 in March, now sells for between N5,000 and N5,500, while the same paint bucket of crayfish, which sold for N3,500, now sells for N5,500.
Findings also show that prices of other staple foods have equally risen. A paint bucket of garri now goes for N3,000, as against N2,500 sold in March. A 50-kg bag of beans, which was sold for N125,000 in early March, now goes for N140,000.
Also, a paint bucket of beans now goes for N5,000, as against N4,000 obtained in the previous month. A tuber of yam now sells for N2,000 and N3,500, depending on the size.
A bag of onions now sells for N85,000 as against N65,000 obtained in March, while a paint bucket of onions now sells for N2,500 and N3,000 as against N2000 sold in March.
Similarly, a paint bucket of chilli pepper increased from N2,500 to N4,000, while a carton of spaghetti rose from N15,500 to N17,000, and a crate of eggs rose from N3000 to N3,400 and N4,00, depending on the size.
However, the price of 25 litres of palm oil, which went for N28,000 last month, has been reduced to N22,200. Also, 50 kg of rice, which sold for N75,000 and N90,000 in March, now sells for N60,000 and N70,000, depending on the brand.
Mrs. Grace Okenwa, who sells foodstuffs, confirmed to newsmen that the price of a 50-kg bag of rice had been reduced to around N60,000.
“Around December and February, rice was like gold. We thank God for the reduction in price and we hope it will still reduce to about N30,000 to N40,000.
“But the prices of beans, garri, onions, crayfish, tomatoes, pepper and yam are not reducing, instead, they are going up and it is affecting patronage.
“I think their prices are rising because of the high cost of transportation. So, we are begging the government to do something about it, because the economic hardship in the country is unbearable,” she said.
A farmer, Mr Nicholas Ojimba, attributed the increase in the prices of food items to insecurity across the country and seasonal variations.
“Farmers no longer go to the farm again because of insecurity. Herders destroy people’s farms, kidnap and attack farmers.
“The seasonality of some food items make their prices flunctuate. Farmers return to the farm during the rainy season and we usually experience a hike in prices at this period,” he said.
Mr Emeka Iroegbulam, a civil servant, lamented that the continued increase in the prices of staple foods imposed economic hardship citizens.
“The purchasing power of many Nigerians, especially civil servants like myself, have become weak that it has become difficult for many households to afford their daily meals.
“This is why I support the call by the Nigeria Labour Congress for an increase in the minimum wage to manage the financial burden imposed by the economic hardships,” he said.
Contributing, Mrs. Nkiru Nwagbo, Convener, Ultimate Business Women and Farmers Association of Nigeria, urged the Consumer Protection Commission to prioritise the regulation of the prices of food items and extend it to the markets.
“The commission can sponsor a bill at the National Assembly that will specify the profit percentage and ensure that no excess gain is added to food items.
“There should also be specified punishment for defaulters to serve as deterrence,” Nwagbo said.
