Yuletide: Nigerians, traders bemoan abnormal hike in food prices

As Christmas and New Year celebrations draw nearer, the prices of food items have skyrocketed in most markets in Ibadan, Oyo State capital, according to WESTERPOST survey.

A market survey at the popular Bodija International Market, Ibadan on Tuesday, revealed that the prices of foodstuffs, which showed marginal increases during the last Sallah celebration, have increased beyond the reach of the average consumers.

However, traders complained of low patronage as most of them believed that the festive season provides the opportunity for traders to make huge profits, necessitating price hikes.

Respondents that spoke to WESTERPOST attributed the hikes to transportation fees, double-digit inflation, and the lack of disposable income.

Items such as chicken, rice, vegetable oil, onions, pepper and other cooking ingredients have recently, witnessed increased prices this week.

At the Bodija international market in Ibadan, a bag of per boiled rice, which hitherto sells for between N25,000 and N27, 000, now sells for between N28,000and N30,000, while a gallon of vegetable oil which before now sells for N24,000 is now sold at N28,500.

Similarly, a gallon of palm oil which sold for N24,000 now costs between N25,600 in wholesale price, while retail price sells for N27,200 market price.

While an average live chicken sells for between N5,000 and a maximum of N8,000 depending on the size, other cooking seasonings such as the Maggi pack which used to sell for N500 per pack is now being sold at 800 per pack.

A basket of tomatoes now sells for between N16,000 and N20,000 depending on the type.

A trader, Rashidat Oladele, said the demand for chicken and other foodstuffs was usually high during festive periods such as Christmas and the New Year.

To cushion the effect of the high cost of foodstuffs and other items, the Oyo State Government had promised to pay a 13th-month salary to workers in its employ immediately after the Christmas festivity, in addition to their regular monthly salary which had been paid as of December 17.

A civil servant, Mrs Oluwatomisin Adebayo said the sharp increase in the cost of food items is not unconnected with the high cost of transportation and the general economic situation in the country.