Prices of perishable food items have dropped by approximately 50 per cent amid the ongoing nationwide hunger protest, reports the News Agency of Nigeria (NAN).
The protest, tagged #EndBadGovernance in Nigeria, aims to draw attention to the economic hardships faced by Nigerians and is scheduled to continue until August 10.
The protest has led to reduced activities in local food markets, particularly in the Alimosho/Agege area of Lagos State.
Traders and buyers at the Ile-epo food market have confirmed significant price reductions in various perishable items, attributing this to low patronage during the protests.
Rabiu Aliu, a tomato trader at Ile-epo market, highlighted the drastic reduction in the prices of tomatoes and other perishable food items.
“A 50kg basket of tomatoes now sells for between N40,000 and N50,000, down from N80,000 to N100,000 two weeks ago,” Aliu reported.
Similarly, a 25kg basket is now priced at N18,000 to N19,000, compared to the previous N30,000 to N40,000.
Aliu explained that traders are forced to sell their produce at lower prices to minimize losses due to the decreased number of customers.
“The purchasing power is actually low at the moment,” he added.
Mukit Afolabi, another trader, also confirmed the price drop, linking it directly to the protest.
“On Day 1 of the protest, tomatoes were even cheaper because there was no one to buy them. I bought a 5kg basket of tomatoes at N4,000, which was N12,000 two weeks ago,” she said.
However, Afolabi noted that not all perishable items have seen a price reduction. “Rodo (scotch bonnet pepper) is still expensive.
A bag sold for N40,000 on Monday but is now N84,000 because no produce truck has delivered any pepper since Wednesday, the day before the protest began.”
The price drop is not limited to tomatoes and peppers. Ibrahim Ahmed, a foodstuff trader, noted a reduction in the prices of rice and beans.
“A 50kg bag of short grain rice now sells for N73,000, down from N83,000 last month. Long grain rice is now N78,000 per 50kg bag, compared to N87,000 to N88,000 previously,” Ahmed said.
Additionally, a paint bucket of honey beans now costs N10,000, down from N12,000 in July, with other varieties selling for between N8,000 and N9,000.
However, not all food prices are dropping. Groundnut oil and palm oil have seen significant price increases.
Hope Osagie, a trader at Agege Market, said, “A 25-litre container of groundnut oil now sells for N60,000, up from N38,000 last month.
Palm oil has also increased to N36,000 for 25 litres, from N27,000 in July.” Osagie expressed confusion over the price hikes, stating, “We really do not know the reason for the hike, but generally, foodstuff prices have been rather unpredictable.”
Buyers have expressed mixed reactions to the fluctuating prices. Anuoluwa Olayinka, a shopper, was pleased with the reduced prices of tomatoes and other perishable items.
“I bought as much as I could afford as I saw the price had dropped. There are just a few people in the market, which is unusual for a Friday. So, I guess traders just want to sell off to minimize loss,” Olayinka said.
Another buyer, Ada Uzor, commented on the unpredictability of food prices. “Foodstuff prices are unpredictable, but I think the protest contributed to the slight price drop of some items,” Uzor noted.
The ongoing protests reflect widespread dissatisfaction with the current economic conditions in Nigeria.
The country has faced rising inflation, with rates hitting 34 per cent, and the cost of essential goods has skyrocketed.
These economic pressures have led to widespread protests as Nigerians demand that the government address these issues.
Beginning on August 1, the #EndBadGovernance protests emerged from widespread discontent over economic conditions and government policies.
With thousands taking to the streets, demonstrators are demanding urgent government intervention to address the soaring cost of living and other socio-economic issues.
Several violent incidents, including deaths and looting, have marred the protests, intensifying the tense situation and prompting calls for an end to the protests.
While the Northern parts of the country have been rocked by the incidents of violence and arson, the South East and South West have largely experienced peaceful rallies.
In Borno State, four persons were killed and curfews were declared in some states in the North.
Incidents include the looting of the Kano Digital Park, where about 150 desktop personal computers and laptops were stolen.
Dr Bosun Tijani, the Minister of Communications, Innovation, and Digital Economy, addressed this issue, stating, “The loss from this attack is substantial, potentially running into millions or even billions of Naira.”
Despite this setback, a private company in Kano has expressed interest in renovating the damaged facility.
