Consumers lament as food prices rise 30% in eight states
Prices of essential food items have gone up by at least 30 per cent between December and April in at least eight states, according to surveys by our correspondents.
The development has made consumers groan, saying the hikes in the prices of goods have affected their budgets.
Prices of food items have continued to soar across the country despite the recent rebound of the naira.
This came as President Bola Tinubu recently vowed to ensure a rebound of the local currency reflected in the prices of commodities.
As a follow-up to the President’s decision, operatives of the Federal Competition and Consumer Protection Commission last week raided some Abuja supermarkets over unfair pricing, vowing to extend the clampdown to other states.
However, the latest findings by our correspondents showed that the prices of basic food items like beans, and garri had risen by at least 30 per cent.
The surveys were conducted in Lagos, Ogun, Gombe, Kwara, Sokoto, Ekiti, Osun and Niger states.
In the past few months, the prices of major food items have continued to rise, especially after Tinubu removed the petrol subsidy and devalued the naira. As the country’s inflationary pressure deepens, Nigerians have been finding it difficult to put food on their tables. This became aggravated when the naira fell sharply against the dollar and other foreign currencies like the CFA between February and March.
As the naira appreciated in the foreign exchange market lately, there were high expectations that the prices of food items, which went up alongside the dollar, would also follow a downward trend in the market. However, findings by our correspondents confirmed that only the prices of rice had so far reduced.
As of Wednesday, findings showed that the prices of beans, garri and other food items remained high despite the naira appreciation.
Our correspondents who visited various markets in some states gathered that traders and sellers were lamenting over the high cost of food items; though the prices differ depending on the location.
According to the surveys, a bag of garri now sells at N41,000, up from N37,000 in less than two weeks ago. In January, it was around N31,000. This indicates a 31 per cent increase.
Similarly, a bag of one kilogramme of Semovota which went for N700 in December now goes for N1,400. This represents a 100 per cent increase in the price. Also, one kilogramme of wheat which went for N500 in December is now being sold for N1,200. This indicates a 140 per cent hike.
Also, findings showed that in January, a bag of beans went for between N65,000 and N70,000. However, as of Wednesday, a bag of beans went for N185,000. This indicates a 164 per cent increase. Punch
