COVID-19:Price of Goods Rises as Restriction Bites Harder

As the restriction of movement as a result of COVID-19 enters its second week in Abuja, Lagos and Ogun States, consumers and business owners are already counting their losses.

Even though the order is relaxed for merchants of foods and drinks, the time frame allotted for consumers to purchase their needs has put undue pressure on the market and affected prices for both buyers and sellers.

Media survey at the Ile Epo market, a major food market in Alimosho; Agbado Oja market in Ogun States and Ogba retail market revealed the hardship consumers were facing amid varying prices necessitated by panic buying.

However, while consumers complained of price hike, sellers of perishables were groaning due to weak demand for the produce.

Also, there were exponential increases in prices of food items such tomatoes, Garri, yam flour and the likes.

At Ile Epo, a caterer in one of the Nigerian Army units in Lagos, Mrs. Mercy Esoala, complained bitterly that the ingredients and food items she normally got in the market for N50,000 has suddenly jacked up to between N80,000 and N100,000.

"This is indeed a trying period for those of us in the food and drinks business. On a good day, what I came to the market for today shouldn't attract more than N50,000, but I have exceeded that margin today with at least N40 per cent increase," she said.

Speaking further, the business woman lamented that the situation revealed the lapses in governance in Nigeria.

This was also the plight of Mrs. Grace Peters, a house wife, who lamented that almost all the items are now more expensive than there were three weeks ago.

According to her, "Agreed, prices of tomato, onions and other perishables have gone down, that can’t be said of the price of Garri, crayfish, yam, potato and many others that have risen in price by N50 percent. For instance, a month ago, Garri was N350, N400 but now is between N800 and N1,000, while crayfish and fish that we used to buy for N250 and N400 are now N350 and N800 respectively."

For Alhaja Bola Oni, who also shared similar experience, the only thing that the government can do to cushion the effect of the ongoing crisis is to reach out to various homes as being practiced in advance nations.

"We are all in Nigeria experiencing this problem, but as things are, the government should rise up to the occasion to reduce the hardship as being done in other countries where such restriction of movements has been introduced to control the spread of coronavirus," she said.

Meanwhile, according to a survey conducted by NAN in more than ten markets, including Mile 12 and Oyingbo, recently, it was stated that a 40 kilogramme (kg) basket of tomato, which sold for N12, 000 immediately the lockdown was announced had dropped to N8, 000.

Similarly, the news agency also reported that a 50kg basket of bell pepper (Tatashe) dropped from N10, 000 to N7, 000.

The survey also showed that a 50kg chili pepper (Shombo) has now been pegged at N8, 000 instead of its former price of N10, 000.

Also, the price of a jute bag of scotch bonnet pepper was equally affected as it dropped from N9, 000 to N7, 000.

Spokesperson of Mile 12 Market Traders Association, Mr. Femi Odusanya, said: “Citizens are observing the movement restrictions as ordered by the government and this has also led to traffic in our markets.’’