20 December 2012

Nigeria: Food Prices Soar Ahead of Christmas, New Year Celebrations

Photo: amandabhslater/ Flickr
Oh Christmas tree.

Lagos — As Christmas and New Year celebrations come nearer, prices of various food items such as grains, beverages, perishables and wines have gone up.

A market survey conducted by Daily Trust revealed that a bag of rice is now sold for N10, 000 compared to the previous amount of N8,000, while beans maintains its cost of about N11,000 to N13000 since its initial rise before the month of the Muslims fasting in August.

It was also learnt that tomatoes which had risen in prices since June this year, hasn't reduced as a basket still goes for N7,000 compared to N20,00 it was sold for at the beginning of 2012 to mid year.

Speaking about the situation, the Iyaloja of Owutu market in Lagos, Mrs. Riskat Gbadeyanka attributed rising cost of food items to various factors apart from the Yuletide season.

According to her, the usual end of the year rush and Christmas celebrations might not be ruled out but the situation is worsened by high cost of transportation to move the items from one part of the country to another.

She explained that for instance, traders who usually bring perishables from the North are facing challenges to access some of the northern states where they usually buy tomatoes, onions and other items due to the security trend. Gbadeyanka stated that due to the above reason, some traders have stopped going up North now to bring those items.

She said that based on that the demand is higher than supply which makes the available items to be sold at higher cost.

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