Nigeria Eid-El-Kabir Preparations Marred by Surging Ram Prices in Lagos

Ram prices surge in Lagos ahead of Eid-El-Kabir as large rams hit N750,000, more than doubling last year's rates. Sellers struggle with sluggish sales amidst Nigeria's economic challenges, while buyers face affordability concerns with medium-sized rams ranging from N350,000 to N400,000.

Ram sellers in Badagry, Lagos, experience sluggish sales as Eid-El-Kabir approaches, with large rams priced at up to N750,000. Buyers face frustration due to high costs, influenced by feeding and transportation expenses.

With the Eid-El-Kabir festival approaching, ram sellers in Badagry, Lagos State, are experiencing sluggish sales due to soaring prices. Reports from the News Agency of Nigeria reveal that the cost of large rams has surged to as much as N750,000. In markets such as Alaba, Ajibade, and Agbalata, significant price discrepancies are evident, causing frustration for both sellers and buyers.

Ram sellers attribute the inflated prices to the combined costs of feeding and transporting the animals. Belawu Ajadi, a seller in the Ajibade ram market, notes a significant decrease in customer turnout compared to the previous year, with sales seeing a sharp decline. Despite the economic challenges, sellers remain hopeful that sales will improve closer to the festival.

Buyers, however, are feeling the impact of the steep prices. Yusuf Ajadi and Alhaji Taoreed Ajape, buyers at Alaba market, recount how prices have more than doubled since the previous year, making it increasingly difficult to afford multiple rams. High transportation costs further exacerbate the situation, with sellers struggling to recover expenses. This economic strain, combined with buyer reluctance, underscores the broader challenges facing Nigeria amidst a cost-of-living crisis and record-high inflation rates.