Merry Christmas!
That’s the refrain that will reverberate across the world on Sunday, as
Christians across the globe celebrate the birth of the Lord Jesus Christ.
But for millions
of Nigerians, this Christmas might not be so merry. Like a harsh storm, the
current economic recession sweeping through the land seems to have assured most
Nigerians of bleak Christmas and New Year celebrations.
Rosemary Odo, a
dealer in children’s clothes at one of the shopping complexes in the Lagos
International Trade Fair grounds, was intermittently lost in thought as she
stared at the crowd of shoppers milling around.
“Please madam,
if you can’t pay N3,000 for that shoe, just drop it. Last week, I brought in
those shoes at the rate of N1,500 but when I went back this week, they sold it
to me at N2,500 each. There is no gain in it. Just drop it. Others will buy it
in no time,” she said.
Her neighbour, a
man, also lamented to the reporter that traders were experiencing low sales
because of the unrealistic prices.
It is a few days
to Christmas, but things appears bleak for most Nigerians. The Christmas bells
are not jingling, neither are the lights blinking. Many places that usually had
colourful Christmas decorations are looking bland and dreary.
Usually, this
ought to be boom time for traders selling clothes, as those in search of choice
apparels for the Yuletide would have visited various markets across the country.
But this year, it is not business as usual.
According to
some traders that spoke with Daily Sun at markets in Lagos Island, Trade Fair
and Oshodi, there has been a lull. They noted that, despite the large turnout
of shoppers, patronage was very low. The mood was not different for those who
were into the sale of decorations, Christmas trees and lights.
Across different
markets and shopping malls in Lagos, the prices of must-buy items for the
period have skyrocketed, leaving the average family desolate. For many,
Christmas is a time to give their families and loved ones a great treat. Many
people are sad that, with the economic situation in the country, this might
have to be suspended for now.
Basic
necessities have become so expensive. Aside from paucity of funds and volatile
foreign exchange rate, prices of goods and services have gone up without
commensurate increase in income.
Not long ago,
the National Bureau of Statistics (NBS) revealed that the Nigerian economy had
recorded two consecutive quarters of economic contraction.
According to the
agency, in Q1 2016, the GDP growth was negative (-0.36 per cent). The Q2 2016
data reflects even a larger contraction, which was -2.06 per cent. The worst
was yet to come as the GDP in the third quarter shrank badly to 2.24, thereby
worsening the chances of the country getting out of the economic recession this
year.
The agency also
noted that the rate of price inflation for the months of September and October
2016 were 17.9 per cent and 18.3 per cent, respectively, while official
statistics also indicated that the country’s unemployment rate increased to
12.15 per cent and 13.3 per cent during the first and second quarters of 2016.
The reality of
the analysis is evident in the food and commodities markets.
A market survey
conducted by Daily Sun showed that prices of everything, especially food items,
have increased by more than 100 per cent.
In these
markets, it was more like the survival of the fittest, as market women
brusquely yelled at those who could not afford their wares to make way for more
willing customers. To a first-time visitor, the impression of the markets would
be that of a warfront.
Many shoppers
can’t believe that prices of commodities have more than tripled, just days to
Christmas and the New Year. For them, it was just a taste of things to expect
in 2017.
A bag of rice
that was sold at N11,000 last year now costsr between N18,000 and N23, 000. A
bushel of rice, which hitherto cost N150 is now pegged at N300. The traders
complained about the soaring prices of food items, adding that they also bought
the items at very high prices. They were unhappy, noting that buyers were
cutting down on their expenses. They all concurred that this year’s
celebrations might be low-key.
From all
indication, most homes would have to do without live chickens this Christmas
and opt for processed ones. Now, chickens that cost N1,500, N2,500 and N4,500
last year are now being sold at N2,500, N5,000 and N6,000, respectively, with
the possivility of further increase in price before Christmas and New Year.
At the Mile 12
Market, where goods vehicles from the North offload a wide range of foodstuff
daily, a basket of tomatoes costs between N4,500 and N7,000, while a basket of
pepper is sold at N7,000. A basket of onions is pegged at N16,000 and N18,000.
Presently, a
small paint bucket (four litres) of gari sells for N900 while a small tuber of
yam is sold at N500. The big ones, depending on the bargain, can be bought for
between N600 and N1,200.
Commodities like
wheat and semolina, among other basic items, have soared beyond the reach of
many families. Five kilogramme and 10 kilogramme bags of semolina have moved
from N1,100 and N2,200 before, to N3,200 and N4,400, respectively. This is even
as the price of a five kilogramme bag of wheat, which previously cost N900, is
now N1,000.
Five litres of
groundnut oil, which was sold at N2,200 before, has moved up to N3,500. A
bottle of groundnut oil previously N250 now costs N500. A 20-litre keg of palm
oil that was sold at N7,000 now costs N8,500, while a bottle that was N300
before is now N600.
A carton of
frozen turkey parts, which was N7,000 in early December now costs N10,000, even
as a kilogramme, previously sold for N750 is now N1,500. One of the brand of
noodles, which had its big and small packets selling for N30 and N50, has moved
the prices to N70 and N100, respectively. Same also goes for seasonings, tomato
pastes and other sundry condiments. In addition, a bag of sachet water
otherwise known as “pure water,” now costs N200 against its initial price of
N100.
The report of
most shoppers that spoke with Daily Sun were filled with anger and bitterness
and they consistently blamed the federal government for their woes.
“I walked
endlessly in the market under the scorching sun. I finally bought a few things
after haggling and being called names by angry market women. It is only women
that feel the impact of food crises. The men don’t even understand what is
happening. All they know is for their food to be served on time, even if it passes
through the eye of a needle,” Chinyere, a housewife, lamented.
Low turnout at
motor parks
For transport
companies, it is also not business as usual. There has been a lull in their
business. The parks have not been as busy as they should be at this time of the
year. Most of the transporters described the situation as worrisome. A manager
with one of the transport companies said, unlike in the past when all buses in
the company’s fleet would have left the park by 7am, these days have been
uneventful, with half of the buses empty at the park, waiting for passengers by
10am.
Worried by the
situation, Sunday Uzor, a Lagos resident, bemoaned the fate of those who had
planned to spend the Yuletide with families and friends in the village.
He disclosed that his tradition of travelling home this year was shelved due to
prevailing economic circumstances.
