Economy
BARELY few days to this year’s Christmas celebration, the prices of food items have continued to soar beyond the reach of an average Abia and Imo resident.
A market survey conducted by the News of Nigeria (NAN) in Umuahia reveal that essential food items, such as rice, chicken, vegetable oil, onions, tomatoes and condiments have skyrocketed and increasingly unaffordable to many families due to persistent price hike.
At the popular Isi-gate Market, Umuahia, 50-kg bag of local rice, called foreign local, ranges from N75,000 to N106,000, depending on its grade, while the imported substitute sells for N120,000.
The same goes for vegetable oil as 25 litres costs N95,000, while 10 litres and five litres go for N45,000 and N19,500, respectively with one litre selling at N3,700.
The price of onions has also hit the rooftop as one bag goes for N300,000 at Ubani-Ibeku Utramodern Market, as against N240,000 and N250,000 a few weeks ago.
A cross-section of buyers expressed frustration over the development, pointing out that one could no longer get N200 worth of the commodity.
Mrs Priscilla Chukwu said that many homes might prepare their Christmas stew without onions.
Chukwu said: “Before now, I couldn’t prepare any soup, especially stew, without enough onions but, today, I can only manage one bulb, which would not give my desired taste.
“The cheapest bulb of onions at Isi Gate now is N300, which is not enough for a good delicacy.
“Already, some people are cooking without onions and it may be so this Christmas. This is too bad to believe.”
Also, at the Ubani-Ibeku Market, a basket of fresh tomatoes sells for N80,000 against N50,000 and N60,000 a few weeks ago.
A carton of 50 sachets of tomato sells for between N6,000 and N7,500, depending on the brand, compared to N4,000 and N5,500 old price.
Similarly, a basket of fresh pepper sold for N50,000 before now has skyrocketed to between N70,000 and N75,000.
A pepper seller, Mrs Nneka Iroegbu, said the price would continue on the rise because of its high demand at Yuletide.
“The high cost of transportation, especially from the North, due to the hike in the pump price of fuel, is the major cause of the soaring prices of goods.
“The government should also urgently address the problem of insecurity, especially kidnapping and killing, so that farmers will return to their farms without fear,” Iroegbu said.
A check at a chicken market at the Railway Station, Umuahia, reveal that a sizeable broiler goes for N15,000 from N10,000 some weeks ago.
A chicken seller, Mrs Roseline Alozie, said that the price of chicken would continue to soar with Christmas and New Year celebrations around the corner.
“The major cause of the price hike is the high demand for chicken during the Yuletide, coupled with the high cost of feed.
“I’m sure the ones presently selling for N15,000 will still go up to between N20,000 and N22,000 before and during Christmas,” she said.
The disturbing market situation is not different in Imo, where the prices of palm oil, vegetable oil and other food items have significantly shot up in markets in the state with the Yuletide at hand.
NAN reports that one litre of vegetable oil, which hitherto sold for N2,500, now sells for N4,000, representing about 55 per cent increase.
Also, a litre of red oil that sold for N1,500 now sells for N2,500, with an average-size tuber of yam going for between N3,000 and N4,000, as against N2,500.
Also, a nine-week old broiler, which hitherto sold for N15,000, now sells for N22,000, with further rise imminent.
A custard paint container of Garri remained at N2,500 in the past few weeks but a cup of beans rose to as high as N700 from a little over N500 a few weeks ago.
Also, a mature male goat, which usually sold for N30,000, now goes for between N40,000 and N45,000.
A trader at the popular Eke Onunwa Market, Owerri, Mrs Ngozika Nwoke, said it was difficult to predict prices of goods generally in the markey.
Nwoke attributed the sudden rise in inflation to the Yuletide “season’s sales”.
Another trader, Mr Chigozie Mbawuike, attributed the inflation to “unstable petrol pricing and economic downturn“.
He urged government at all levels to establish modalities for price control so as to ensure stability and save families from scorching economic difficulties.
An economist, Mr Willy Obinna, called for the reintroduction of commodity markets, arguing that such a measure would help to bring about price regulation and stability. (NAN)
22nd December, 2024.
C.E.
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