Rising food prices, serial naira devaluation compound Nigerians’ woes as purchasing power plunges - Punch Newspapers

Life has become increasingly difficult for many Nigerians as the rising cost of food and the naira’s seemingly unctrollable downward trend continue to reduce their purchasing power, ADEPEJU ADENUGA writes

“Is the country at war? Why do I have to buy a tuber of yam at N1,500? Even if the country is at war, I don’t think it is enough reason to buy it at that price,” said an aggrieved woman, who was seen standing in front of a yam seller at the Ojodu Berger Market in Lagos. According to the NBS, the average price of 1kg of yam tuber increased year-on-year by 9.87 per cent to N252.80 in April; the average price of 1kg of brown beans rose by 36.73 per cent to N378.82, while 1kg of beef bone cost N1,145.32 in April, reflecting an increase of 9.38 per cent. Our correspondent observed many food buyers and sellers groaning over the high costs of food items during a visit to the Ketu and Mile 12 markets.

The National President, All Farmers’ Association of Nigeria, Mr Kabir Ibrahim, in a telephone interview with our correspondent, noted that the value of the Nigerian currency had dwindled as the naira continued to weaken against the dollar.

cchukudebelu Endure it na,just two more years of suffering and vote Tinubu for the continuation

The increment is alarming, even local foods produced here is sky rocketing everyday. God have mercy

Thank you Buhari

Our new reality.

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