Victor EzejaRice is one of the staple foods in Nigeria and commonly consumed during festivities like Christmas but this time many are finding it difficult to get it for the celebration given the unprecedented price hike.
The country is generally experiencing surging inflation rate which hit new high of 28.2 percent as recorded in November 2023 by the National Bureau of Statistics (NBS).
The NBS data show that food inflation rate rose to 32.84 per cent in November from 31.52 percent in October.
The effect is seen in the general high cost of things across the country amidst static earning, which mostly affects employees of small scale businesses, private firms and even civil servants.
Prime Business Africa surveys in some markets in Lagos such as Mile 12 and Mushin markets shows that a 50kg bag of foreign rice sells for N70,000 and even N72,000, up from an average of N40,300 a December last year; while the price of local ones, depending on quality, ranges from N45,000 to N50,000 rising from an average of N33,600 a year ago.
Before now, during Christmas season, many individuals and families make adequate provision for purchase of bags of rice both for personal consumption and sharing with relations, friends, orphanage homes and even employees at workplaces, but with the cost having gone to the roof, many have slashed their budgets.
“This is one of the worst Christmas I have ever seen in terms of high cost of things in the market. I used to buy one bag of rice that would take my family till a better part of January the following year, but as it is, I will only manage to give my wife money for one or two paint rubber buckets just for the Christmas Day and may be few days later,” Cyril Ndukwe, a school teacher said.
Mr Ndukwe is not left alone, as Mr Augustine Onoja, a trader said “the high cost of things gives no cause for merriment in this year’s Christmas.”
“I used to do daily contribution in the market from January to December and able to get not less than eight bags of rice from which I use to do charity in the village during Christmas but with the high cost of rice and other things this year my contribution could only afford two bags which will basically be for my family and may be a few relatives,” Onoja stated.
He said people rejoiced when they heard that the Federal Government through the Central Bank of Nigeria (CBN) has lifted forex ban on 43 items including rice as they hoped that the policy would encourage importation of rice to augment locally produced ones which do not meet the consumption needs of the population.
“However, there seems to be no positive effect of that policy as all we see is continuous increase in price of rice,” he added.
A rice distributor and merchant of other goods based in Ikom Cross River State, Mr Felix Eze, said since the ban was lifted “we have been waiting to see the effects but high exchange rate has made it difficult for us to access goods across border.”
He said he has not done foreign rice business for sometime now because it is still banned from importation.
“The lifting of forex ban on items like rice, turkey and others is of no use because they are still banned from importation. So, smugglers manage to bring them in and place high prices after putting together what it cost them to get the goods.
“Customs officers are always tracking them and seizing those contraband goods,” Eze told Prime Business Africa via telephone.
Lamenting about poor sales of rice this Christmas, a rice dealer based in Enugu who supplies to different parts of the country, Mrs Oluchi Eke is said: “We have recorded low sales this year compared to other years. I understand it is because of high price which is above many people’s purchasing power, but there is nothing we can do about it as we can only sell based on what we bought.”
Apart from rice, chicken is also on the high side. A sizeable chicken is sold for N17,000 against the average price of N9,600 last year. The average price of a 10kg carton of frozen chicken increased to N33,000 from N21,700 in December 2022, while a kilo goes for N4,200 as against N2,400 in the same period last year.
A big basket of fresh tomatoes sells for N45,000, while the smaller on goes for N25,000.
READ ALSO: Women Turn To ‘Carrot Stew’ As Cost of Tomatoes Skyrockets In Nigeria
With these, Nigerians indeed, faced with a bleak Christmas as a result of harsh economic realities.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
Follow Us