Nigerian Market Traders and Citizens Face Economic Hardship
As the Nigerian economy continues to grapple with challenges, market traders and average citizens are feeling the weight of rising prices. With a bag of rice ranging from 32,000 to 50,000 naira, and a carton of chicken priced between 27,000 and 33,000 naira, many are struggling to meet their basic needs.
The increasing cost of essential commodities like beans, yam, and cooking oils alongside the increase of transportation used in conveying these goods to their various locations further complicates the situation.
A bag of beans which used to cost 31,000 to 34,000 now costs anywhere from 60,000 to 68,000 naira, while palm oil prices range from 25,500 to 30,000 naira for 25 litres. Groundnut oil, another kitchen staple, sees prices between 5,500 and 6,000 naira for 5 litres.
An average frozen foods seller will usually budget between 10,000-30,000 for a carton of frozen fish and is now purchasing the said carton of fish for 46,000-48,000.
These skyrocketing prices have put immense pressure on market traders who rely on affordable goods to sustain their businesses. Average Nigerians, already facing economic challenges, find themselves having to reduce their meals and make tough choices to make ends meet.
The government’s recent implementations have not provided any form of relief, and it remains a challenging time for many.
