Nigerians Groan over Economic Hardship, as Prices of Food, Commodities Triple
*Situation to worsen with planned fuel subsidy removal- experts
By Francis Ugwoke
Nigerians are currently groaning over continued economic hardship following major rise in prices of all food stuffs and commodities in the country.
The situation is worrisome as the current harvest season has not shown positive effect on food prices in the country
Our Correspondent gathered that many average and below average income families are the worst hit as a result of the current high prices of food, commodities and other services.
A market survey conducted by SHIPPING DAY showed that most prices of goods have tripled in the past few weeks.
For instance a painter of gari sells for close to N1,500 per painter while beans of the same painter sells for N3,300.00. A tuber of new yam sells for between N1,000 and N3,000, depending on the size.
It was gathered that high prices of natural agricultural food items have forced many families to patronize semovita, semolina and supergetti which prices have also gone up in the past few weeks
For instance, a bag of 10kg semovita sells fo N4,500 as against N3,500 few weeks ago
The survey showed that the only food that appears cheaper and affordable now for many Nigerians is rice which bag sells for N25,000 (local rice).
Prices of provision goods such as milk, milo, burnvita and others also went up.
The survey showed that one tin of sardine sells for N600 from N400 as at December last year. All other prices of similar items have also gone up.
For low income earners whose monthly take-home pay is less than N100,000, it is indeed a terrible economic situation to feed, pay school fees and rent.
Incidentally, there are many who still earn less than N50,000.00 per month and who have families to take care of.
Items for soup or stew are also on the increase to the extent that a pot of soup costs as much as between N6,000 and N10,000.00.
A month ago, filling of 12.5kg gas cylinder was N4,300 but it has gone up to N6,000.
Observers believe that low income earners in the country are in for worse times with the planned removal of fuel subsidy.
The removal of the subsidy is seen by many observers as capable of worsening the economic condition of low income earners in the country.
Apart from food and commodities, prices of other items, including services have equally gone up.
Traders who spoke to our Correspondent said they are the worst hit as their capital is being depleted on daily basis as a result of rising cost of prices of goods from distributors.
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