Fuel Price.webp

The Digest:

Market leaders and traders across Nigeria have lamented that rising petrol prices are crippling their businesses and affecting Easter celebrations. Findings show prices of garri, rice, beans, fish, and groundnut oil have recorded sharp increases. In Lagos, the Babaloja General said transport fares have risen by nearly 300 percent. In Calabar, a meat seller reported that transport costs for meat rose from ₦500 to ₦2,000. In Benin, traders said chicken prices jumped from ₦25,000 to ₦35,000, while a bag of local rice now sells for about ₦42,500.

Key Points:
  • High transport costs are being passed directly to consumers on essential food items.
  • Low patronage during Easter means traders are making losses during peak season.
  • A bag of rice has nearly doubled in price, hitting household budgets hard.
  • Perishable goods traders are the worst hit due to spoilage and low sales.
  • The situation has been described as unprecedented by a trader of 25 years.

Watch whether the government intervenes to stabilise fuel prices or offers relief to traders and consumers facing severe economic pressure.

Sources: Nigerian Tribune