Barely seven days to Christmas celebration, the horizon looks dark and gloomily cloudy for Nigerians, as food inflation, rising cost of living and general economic meltdown has dashed the hope and plans of many Nigerians who have been looking forward to a sizzling, fulfilling Christmas celebration.
Most Nigerian families have reduced their food intake from three square meals a day to two or even one, with many weighed down by the huge burden the harsh economy placed on them, a situation that gets worse as Christmas gets closer.
A retired university don Dr. Ayobami Aderemi, told newsmen:We dont need a soothsayer to tell us that families in Nigeria today are under unfair intense pressure brought on them by irresponsible governing architecture; and wicked leaders, who have no scruples coming up with sadistic policies to increase the woes of innocent Nigerians.
“The removal of fuel subsidy without viable palliatives , and other abracadabra policies are at the heart of what Nigerians are facing.
“Can you imagine a derica of rice now in my locality is around ?1,000; bean is now ?700. A 50kg rice hovers between ?65,000 and ?70,000 for imported one, while the local rice is put at ?50,000.
Aderemi further stated that its sure that for many families this years Xmas and New Year celebrations will be low key. I cannot speak for politicians.
Dr.Olufemi Omoyele, of the Department of Entrepreneurship at Osun State University, said there are fears of an impending food crisis in the nation.
A motor mechanic, Jide Adebanjo, lamented the agony he daily goes through to feed his family of five The inflation is just increasing on a daily basis, and it is affecting all the sectors. Think of any item, it is affecting it. An egg is now N100. Mudu (a medium-sized measuring bowl) of Garri is now N600. The only thing one can do to balance the situation is to do opportunity cost things that are most important are what you should focus on, and things that are not important, you leave it out, he stated.
Also, a foodstuffs seller at Alakuko, Janet Ayobami, complained of low sales. About a month ago , we used to sell a mudu of rice at between ?750 to ?800; but now its ?900. Its not our fault. Theres inflation. A derica of beans now goes for ?700 instead of ?600 about a month ago. We even had to stopped selling certain goods because of the prices. When you look at the cost of getting it, and you try to add your profit and everything, eventually, its not worth it.
According to a market survey recently conducted by comparing the increase in food prices between 2022 and 2023, food prices have increased by as much as 30 percent in the past one year.
Previously sold for N2,200 per kilogram, chicken now costs between N2,200 and N2,400. A 50-kg bag of rice that once cost N47,000 now costs N53,000, while a 50-kg bag of beans that used to cost between N50,000 and N55,000 now sells for N65,000-N70,000. Similarly, a bag of garri, which once cost between N20,000 and N21,000, now sells between N28,000 and N30,000; and a mudu of flour currently costs N1,100 from N900 in 2022.
Investigations revealed that a measure (mudu or loka in local parlance) of granulated sugar costs N1800 from N1100 in 2022, and a litre of palm oil that was once sold for N800 is now N2000. According to the investigation, in some markets in Lagos and Abuja, a large basket of tomatoes costs between N8,000 and N10,000 when it is in season and between N20,000 and N40,000 when it is not.
Convenience items, such as spaghetti, noodles and bread have also increased in price. A family-sized loaf of bread is now sold for N1,200 instead of N700, while 500 grams of spaghetti that was sold for N400 in 2022 is now N650; 120 grams of noodles that was sold for N170 in 2022 currently sells for N220 and a crate of eggs goes for N3,000 from N2,200.
While the price of rice, the most consumed staple on Christmas, is unimaginably high and out of the reach of many, prices of other food items also needed for entertainment during the festive season are also high.
From tomatoes, pepper, oil, meat and to chicken, one needs good money to get these food items this season and many cannot afford them. A kilo of chicken goes from N3,500, live chicken from N12,000, 4 litre of oil from N6,000, then rice and meat are untouchable. Moreover, no drink is cheap again, including sachet water and even as all manner of carbonated drinks fill the market, their prices are still high.
The investigations further showed that some of the inflationary pressures were caused by banditry, insecurity and shutting down of the land borders. Although some of the land borders have been reopened, Nigerians still bear the brunt due to some other factors, such as the rising cost of transportation due to the fuel subsidy removal.
Many Nigerians spoken to have ruled out travelling because of high cost of transportation. Before now, as in the past, shopping would have been at its busiest, in top gear, with tailors busy and transport companies servicing their fleet and acquiring additional ones to meet the huge demand of passengers travelling to various parts of the country for the festivities.
Many tailors spoken to also complained of low patronage.
Recall that last week, the National Bureau of Statistics (NBS) said Nigerias annual inflation rate rose to 28.20 percent in November, from 27.33 percent in the previous month. It said the November 2023 headline inflation rate showed an increase of 0.87 percentage points, when compared to the October 2023’s headline inflation rate.
According to the report, the food inflation rate in November 2023 quickened to 32.84 percent on a year-on-year basis, which was 8.72 percent points higher, when compared to the rate recorded in November 2022 (24.13 percent ).
Recall that in July, President Tinubu declared an immediate State of Emergency on food insecurity to tackle the increase in food prices.
