As Christmas approaches, residents of Abia and Imo states are grappling with a sharp rise in food prices, making basic items increasingly unaffordable for many families.
A market survey in Umuahia revealed significant price hikes for essential items such as rice, chicken, vegetable oil, onions, and tomatoes. At Isi-gate Market, a 50kg bag of local rice now costs between N75,000 and N106,000 depending on the grade, while imported rice sells for N120,000. Similarly, a 25-litre container of vegetable oil has risen to N95,000, with smaller quantities following suit.
Onions have seen a dramatic price increase, with a bag selling for N300,000 at Ubani-Ibeku Ultramodern Market, compared to N240,000 just weeks ago. Buyers lament that N200 worth of onions is no longer sufficient, forcing many to reduce or eliminate the ingredient from their meals.
Fresh produce is also affected, with a basket of fresh tomatoes now priced at N80,000, up from N50,000 to N60,000, and a basket of fresh pepper reaching between N70,000 and N75,000. Sellers attribute the hikes to high demand during the festive season, coupled with increased transportation costs due to rising fuel prices.
The poultry market reflects similar trends, with a sizeable broiler now costing N15,000, up from N10,000 a few weeks ago. Sellers predict further increases as Christmas and New Year celebrations draw closer.
The situation is no different in Imo State, where residents face steep price increases for palm oil, vegetable oil, and other staples. A litre of vegetable oil has risen from N2,500 to N4,000, while a litre of red palm oil has jumped from N1,500 to N2,500. The price of yams, beans, and other staples has also surged significantly.
Traders attribute the inflation to factors such as high fuel costs, economic instability, and insecurity, which have disrupted farming and transportation. Many have called on the government to implement price control measures and improve security to ease the burden on struggling families.
Economists have suggested the reintroduction of commodity markets as a means of stabilizing prices and ensuring affordability, especially during critical periods like the yuletide.
Source: Daily Post