As the prices of food commodities continue to surge, traders and consumers find themselves grappling with the burden of increasing costs. The situation has also led to shortages of some essential food items in the market, leaving many feeling the pinch of this economic challenge.
A recent visit to Magboro Market in the Obafemi Owode Local Government Area of Ogun State revealed the alarming price hikes in various food products. Items such as melon, onions, frozen foods, and tomatoes have seen their prices double, causing distress among both sellers and buyers.
One trader, known simply as Mr. Najanko, expressed his frustration, particularly regarding the sudden and steep rise in onion prices. He shared his disbelief, recounting how he had sold onions at significantly lower prices just five months ago. A bag of onions, which he had purchased for N30,000 some months back, had now soared to N50,000.
Najanko went on to lament the impact of these price hikes on his profitability, stating that he is struggling to make a decent margin. Even a bag of onions that was priced at N70,000 just last month had surged to a staggering N120,000 by his latest visit to the market. These rapid fluctuations in prices have left traders like him grappling with how to turn a profit under such circumstances.
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One consumer, who goes by the name Mummy Bright, echoed the sentiment of many others, deploring the rising costs of food items. She highlighted how melon, which used to be N4,500 for a paint, had now climbed to N5,000. Additionally, tomatoes, once a staple in Nigerian kitchens, are increasingly scarce and expensive, with some likening their price to that of gold.
Mummy Bright appealed to the government to take more significant steps to boost the agricultural sector in Nigeria. As food prices continue to soar, the call for intervention in the form of agricultural support and policies becomes increasingly urgent, aiming to alleviate the burden on both traders and consumers.
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