NAIJA price check: Basket of tomatoes shoots to N15,000, Buhariconomics Flatters

Despite frantic efforts by the federal government to put things in order in he country, the prices of goods and services continue to rise in various markets across the country

– A visit to the Nigerian Army Shopping Mall (The Arena) at Oshodi, Lagos by NAIJ.com correspondent, reveals unstable prices of imported goods while locally produced consumer goods have continued to fluctuate, making the situation even worse for buyers and sellers

– Traders complained of low patronage and low turn-out of buyers at the mall, attributing it to the exchange rate and economic situation

Prices increases daily, in nearly every segment of household goods and consumables earlier this year, which are clearly the aftermath of the weakening naira against the dollar, Economy constraints and increase in pump price.

A visit to the Nigerian Army Shopping Mall at Oshodi reveals unstable prices of imported goods while locally produced consumer goods have continued to fluctuate, making the situation even worse for buyers and sellers.

Tomatoes, which are one of the most common perishable commodities in Nigeria, have experienced a sharp increase, our findings have shown.

A basket of the commodity in Lagos was sold in Lagos at an average price of N5,000 and about N8,000 upwards, depending on type and how fresh it is.

On the average, the price of a big basket of tomato now costs N15,000 while the small basket is sold for about N8,000. For pepper; a basket of Rodo costs N8,000 while that of Tatashe costs N10,000. Meanwhile, a bag of new onion now costs, N24,000.The cost of transporting these food items from farms in rural areas or their places of purchase to markets in urban centres where they are needed has gone up. This, as discovered, explains why prices of some staple food items which ordinarily should be low, have gone high.

Chinyere, a trader who sells hair products like weaves and attachments (braids), said everything has gone high, attributing it to the rise in dollar.

She said: “Everything has gone high due to the rise in dollar. For expression braid, as at last month, we use to buy at N690 and sell at N700 but now we buy at N800 and sell between N830-N850. The price had increase by N120. A carton of the braids contains 50 pieces, so now over N5000 added to the price of one carton of the attachment.

“Also, for weaves, the ones that were sold from N450- N700 have gone high to N850 upwards. This depends on the quality and brand. Like the human hair, if we buy one for N6,700, we sell at N8,000. It now depends on the seller and the buyer as well.

“For relaxer, Dark & Lovely kit that was sold for N850, now sells for N1,100 upward. Another kit that has become very expensive is the Mega Growth kit, the relaxer before costs N2,150 but now it cost N2,750 in just few weeks. In this place, when some customers come, they just price and go, because they cannot afford it.”

“The products we sell that cost N50 before, now costs N100 and above. This is aching. There is no market. We are just trying to cope so we will not become Idle. We do not make profit as usual; we hope things will turn out better,” she prayed.

A potato seller identified as Peter, has a different view to the rise in cost of goods in the market. According to him, things cannot be changed from bad to good without going through a process.

According to him: “Buhari is not a magician. Of a truth he has promised change, but it cannot happen overnight without a process. The price of Potato increased a bit. And the price depends on the type, the market and the seller, not leaving out the cost of transportation. Before now, we sell potato From N100 but now it is not so. The potato that cost N100 before now cost N200. And the ones we sell for N150 before, now sells for N300.

“The price of a bag of Potato ranges from 8,000- N10,000. The previous price cannot be stated because now things are very expensive now. We have two types of potatoes: the Hausa potato and the Local potato. The Hausa potato is very fresh, which makes it expensive while the local potato is not. A bag of local potato can be gotten at the rate of N8,000 while that of Hausa is sold for N10,000.

“For yam, the price is influenced by a lot of factors like transportation, market forces, the type of yam and the size. Five tubers of small yam cost N2,000 while that of big yam costs N3,000 and above. I would say patronage has been encouraging so far. Since things are expensive, we continue to hope it will turn out for good. I am always selling and God has been faithful.”

A shoe seller at the mall who pleaded anonymity, complained bitterly about the hike in the price of goods in the markets, blaming it on the exchange rate.

“I sell children shoes, ladies shoes and men’s shoes. The prices of shoes we sell in this mall depend on the amount spent in their purchase. Because we buy our shoes from neighbouring countries, the cost of traveling and exchange rate influences the price of the shoes we sell.

“For ladies’ shoes, the price ranges from N2,000 and above, depending on the size, the design and the maker. For the men, the price of their shoes ranges from N4,,000 and above, this depends on the choice of the buyers, the quality of the shoe and the type. For children, we have canvass they wear for sporting activities. Small canvass, it costs N2,500 while adults own costs N4,000 upward.

“So far, the patronage has been very low. Market is very dull. We are just suiting down because people are not coming. Even when some come, they end up not picking any item. It is that bad. They complain that there is no money. Some will even come and be begging you. The exchange rate has affected our market badly,” she lamented.

Alhaja, a trader who sells household items like pots, blender, microwave oven, flower vase, kitchen utensils among other items, says patronage is encouraging but the exchange rate has reduced her purchasing power.

She explained thus: “The patronage has been encouraging but everyone knows things in the market are very expensive now. Sometimes, customers come to buy different products at a time. While some come to price and leave. For master chef hand roaster machine, before it costs N8,500 but now it cost N12,000. While 4- in- 1 master chef blender, cost N9,000 before, but now it cost N10,000. Also, Sandwich maker, we have the four slice and the two slice, the four slice costN4,500 while the two slice cost N2,800.“We have different types of mob: the cotton mob, the promo mob and the sun-dry mob. For cotton mob, the big one is N1,000 while the small one is N800. Then we have the ones we sell from N350 and above. The price if influenced by the materials used and cost of purchase.

“The exchange rate has greatly influenced the goods we sell. Before I travel almost frequently to buy my goods but now, the rise in dollar will make me think twice. We are trying our best to make the goods affordable but things are not working, we are suffering.”

Speaking also on the issue of inflation in the market, Mr Ebere, a trader who sells electrical appliances, said the prices of items they buy from producers have increased attributing it to the rise in dollar and economic situation.

“There is no market. Everywhere is just dry. The hike in pump price, economic situation and exchange rate so far has led to the increase in the price of various goods in the market. The condition of the country is worse. There is no money to feed well because we do not make profit,” he began.

“We used to buy wire for about N1,300 and N2,400, but now, it has gone high. It is very difficult for us to buy, because when we buy, we find it even more difficult to resell.

“We buy these appliances from Alaba Market, but the importers are complaining that things are expensive at their end, so when we buy, we become afraid to sell because the prices scare buyers away. This makes it difficult for us to sell,” the trader added.

For Martins, a trader who sells building materials like toilet seats, washing hand basin, full accessories for plumbing materials, things have gone from bad to worse.

He lamented seriously on how prices increase on a daily basis, saying: “There is no fixed price of goods again in the market, because things increase daily. The amount you buy a particular product increases the next time you go to purchase such product.

“I used to make a hundred and fifty thousand everyday but now, I make just N20,000. And I blame it on the rise in dollar. Before, a complete toilet and seat is N4,500- N6,000 but now it has gone high to N9,000- N12,000. For shower tap before it is N1,500 but now the price ranges between N4,500-N6,000. Before washing hand basin with standing is N3,500 but now it is N7,500.

“No customer. Patronage is low. The price of the building materials has gone high. The people cannot afford it. I blame it also on the ban placed on importation of some goods. Also when the price goes up, due to the rise in exchange rate as well, what we buy is what we sell.”

TABLE

Before         Now

Rice:
A bag of Aroso Rice N18,500   N19,000
A bag of Agric Rice N16,000   N16,900

Beans:
A bag of Olotu N24,000       N28,000
A bag of Olotu (Niger) N27,000     N33,000

Garri:
A bag of White Garri N8,500       N9,500
A bag of Red Garri N10,000        N12,000
25-litre of Groundnut oil N14,500      N14,500
25-litre of red-oil N14,000           N16,000

Egusi/Ogbono/Crayfish:
A bag of ogbono N85,000      N110,000
A paint of Ogbono N3,500     N6,500
A bag of small egusi N24,000      N30,000
A bag of medium egusi N28,000      N35,000
A bag of big egusi N30,000              N40,000
A big nylon of crayfish (Patala) N17,000      N24,000

Generator:
Tiger TM 960 N13,5000      N22,000
Tiger 2.7 N30,000            N80,000
Elopaq 2.5 N35,000        N95,000
Elopaq 3.8 N70,000       N150,000
Firman 8.8 N95,000      N180,000

Tomato/Pepper/Onion:
A big basket of Tomato N8,000    N15,000
A bag of new Onion N23,000       N24,000
A basket of Pepper (rodo) N7,000     N8,000
A carton of Golden Penny Noodles N1,300     N1,600
A carton of spaghetti N3,200         N3,700

Potato/Yam:
A bag of Hausa potato N8,000      N10,000
A bag of local potato N5,000         N8,000
Five tubers of small yam N1,500    N2,000
Five tubers of big yam N2,500      N3,000

Building materials:
Full toilet seat N5,500           N9,000
Washing hand basin (Small) N1,500      N3,000
Washing hand basin (big) N3,500     N7,500
Shower Tap N1,500       N4,500
Waste N300             N500