The Baba Loja General of Agbado Oke-Odo LCDA, Abiodun Kosoko, has blamed rising fuel prices for surging food costs, warning that transport expenses are squeezing traders and deepening hardship for consumers across Lagos.
Mr Kosoko spoke during a visit by the News Agency of Nigeria (NAN) to the Ile Epo Market, describing a sharp disconnect between foot traffic and actual sales.
|
|
He said that although markets still attracted crowds daily, purchasing power had weakened significantly, leaving traders with unsold goods and diminishing returns on their investments.
Mr Kosoko explained that many traders sourced food items from northern and neighbouring states, where production was higher, but transportation to Lagos was increasingly expensive.
|
|
|
|---|
According to him, distance, fuel costs, and multiple levies along supply routes all combine to inflate the final prices consumers pay in urban markets.
“People come to buy foodstuffs but leave with less than planned. There are turnouts but no turnover,” Mr Kosoko said.
He warned that the trend threatened the sustainability of small-scale traders, many of whom depended on quick sales to avoid losses from perishable goods.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
Mr Kosoko urged the federal government to intervene through fuel subsidies or targeted transport support to stabilise prices and protect both traders and low-income households.
He noted that a bag of rice, previously sold for ₦50,000, now costs between ₦56,000 and ₦58,000, depending on brand and supply conditions.
“It is affecting us, sellers, because some goods spoil if unsold. People now buy in smaller quantities, unlike before,” he added.
Hammed Adekunle, a meat seller, said customers frequently expressed shock at prices, often accusing traders of profiteering without understanding supply chain realities.
He said bargaining had become more intense, with some customers attempting to reduce ₦5,000 worth of meat purchases to as low as ₦1,000.
“They think I inflate prices, but suppliers keep raising costs beyond my control,” Mr Adekunle said.
Mr Adekunle added that rising costs of livestock, feed and transportation had left meat sellers with little choice but to adjust prices or risk running at a loss.
Sola Ogunbade, a teacher, said the persistent rise in food prices had forced her to prioritise essential items while dropping others from her shopping list.
“Foodstuffs are expensive. I must stick to my budget even if my list isn’t complete,” she said.
READ ALSO; Food prices dropped by 50% amid agricultural reforms — Minister
She noted that even staple foods such as rice, beans and vegetables had become difficult to afford in sufficient quantities for her household.
Mary Chukwu, a mother of three, said the situation had reduced family meals to basic survival, with little room for nutritional balance or dietary variety.
She explained that her focus was now on ensuring her children do not go hungry, even if meals lack protein, fruits or other essential nutrients.
Mrs Chukwu appealed to government authorities to consider subsidies on fuel and key food items to ease pressure on struggling families.
Funbi Idowu described the Easter period as the hardest his family had experienced, saying economic realities had forced them to scale down celebrations.
“We can’t afford a whole chicken. We will celebrate Easter quietly and hope things improve,” he said.
He added that what used to be a festive period marked by abundance had now become a time of careful spending and reduced expectations.
(NAN)
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
