Food inflation: Traders express concern over loss of customers in Ijoko Market
By Sodiq Adelakun and Emmanuel Okin
Traders in the Ijoko market community in Sango have expressed their concern over the exorbitant cost of food commodities in Nigeria, which has resulted in a significant loss of customers.
Despite the government’s efforts to provide relief measures to alleviate the economic hardships faced by citizens, the headline inflation rate has risen to 26.72 percent in September, up from 25.80 percent in August 2023.
The primary driver of this relentless increase in inflation is food inflation, which has skyrocketed to an alarming 30.64 percent. Consequently, many families are struggling to afford an adequate amount of food for their daily meals.
The impact of this inflation surge is particularly felt by ordinary Nigerians, who are finding it increasingly challenging to meet their basic needs, including access to three square meals.
Recall that the National Bureau of Statistics (NBS) has identified several factors contributing to the soaring food inflation. The prices of oil and fat, bread and cereals, potatoes, yam and other tubers, fish, fruit, meat, vegetables, and milk, cheese, and eggs have all experienced significant increases.
These price hikes can be attributed to various factors, including disruptions in the supply chain, rising production costs, and the depreciation of the national currency.
In an interview with our correspondent, Mrs. Alaka, a widow and trader in the Ijoko market, who sells plastic and detergent, expressed her struggles.
She mentioned that providing for her children has become extremely difficult since the cost of food commodities has skyrocketed.
In her words, “The cause of Nigeria’s inflation and high cost of food commodities is because of the government’s selfishness, they are so selfish that they do things for their own benefit only, which is not supposed to be. I am a widow with children, I only have the money to rent a shop but there’s no money to buy goods for it.
“Living is really hard, to eat and everything. Now that a cup of rice is N750, how will it serve my children and me. Everything is costly — food, gas and petrol everything, even the high rate of dollar over naira has made imported material costly. I urge the government to please make things easier for the civilians,” she lamented.
The escalating prices of food commodities have taken a toll on Mr. Damilare, a market vendor, and his family. They are no longer able to enjoy meals to their satisfaction due to the exorbitant prices. He said that the government is well aware of the necessary steps to alleviate the burden of high food prices.
Mrs. Olugbade, a yam flour and garri seller in Ijoko market, expressed her concerns about the high cost of food. She attributed the increase to various factors, including the removal of subsidies and the excessive bills charged by drivers transporting goods. She also mentioned the issue of police officers demanding money during transportation.
As a result, her business has suffered, she said, leading to a loss of customers and hardship for her family. Mrs. Olugbade appealed to the government to reduce the cost of petrol. On the other hand, Mrs. Jumoke, a bag seamstress in the market, shared her struggles as a nursing mother.
She highlighted the burden of feeding herself and her children, especially with the skyrocketing price of rice, which now stands at N700 per cup.
Mrs. Jumoke explained that her business has been negatively affected since people prioritise their basic needs over purchasing bags, and the cost of materials has also increased significantly.
