The hike in price of commodities is gradually making a section of the Nigerian populace lose hope in the government - BeVibez Media

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The hike in price of commodities is gradually making a section of the Nigerian populace lose hope in the government

With the naira trading at #370 against the dollar as of Monday and currently trading at #301 at parallel market, many Nigerians are lamenting the astronomical leap in price of staple foods and other commodities. You probably know  the cost of sachet water has increased from #70 to #150, while the ‘hungry man’s size’ of noodles has increased from #100 to #120. What else has increased in price? Find out seven of them here: 

Rice is a staple in Nigeria regardless of strata or demographics. This particular food has been hit by two major factors – the ban on importation and the free fall of the naira. A ‘derica’ of rice used to sell at #150 but now sells #250; while a 50 kilogrammes bag of rice sells at #13,000 as opposed to the former price of #10,000. Ugochukwu Uchere, a trader at Ojodu retail market in Lagos, said the reason for the price increase. “Before we sold rice at #10, 000, but now we sell at #13, 000,” he said. “Before, in a week we made more money, but now we only make 75 percent of what we made before. “The ban of importation of rice is what is affecting the price; Nigeria cannot make rice that will feed the country. Nigeria cannot make rice that will reach us. Government should open the border for us.” 

WATER IN A SACHET aka PURE WATER As it is known, no man can live without water and Nigeria’s main outdoor source of drinking water is ‘pure water’! This is the most accessible drinking water to the over 60 per cent of Nigerians living below one dollar. The cost of a bag of sachet water use to be #70, but it now goes for #150. A sachet used to sell for N5 but now sells for #10 to #20. At Mile 12, one of the market-friendly environments in Lagos, Speaking with Aminat Yussuf, a sachet water hawker, who almost wept explaining the economic pressure she faced. “The poor are getting poorer these days like never before. The cost of pure water before was #70, but now it is sold at the rate of N150; it is too expensive and it is hard to make profit,” she said. 

The price of palm oil has also increased. It used to be #250 but now it is sold at the rate of #300/350. Ifeoma Nadim, another trader at Ojodu retail market, said: “Before, palm oil was 250, but now we are selling it at the rate of #300/#350. It is really affecting my family, school fees have increased. The poor are getting poorer. Any way, government should come to our aid; that is my own.” 

 The price of the vegetable, probably the cheapest Nigerian staple, has increased. “Before, we sold vegetable leaves for #10, #20; now if you don’t have #100, you can’t buy vegetable,” says Nwanchukwu Uche,  a vendor at Ketu market. 

 The importation of frozen chicken was banned by the federal government in 2015 and this  affected the price of the chicken. A pack of frozen chicken used to be #6000, but now it is #7, 500. The price of turkey, which used to be #7, 500, is now #9000. 

A pack of fish used to go for #7000 or #8000 but now it goes for #12, 000. 

Indomie is patronized by both the young and old people. The large pack of indomie sold at #100 but now sells at #120. Source:thecable

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