Up North, food prices crash, consumers surprised
By Jeph Ajobaju, Chief Copy Editor
Market men and women in the North are being compelled to substantially slash the prices of foodstuffs and other perishable items in order to cut their losses as consumers cannot lay hands on naira notes, old or new, to buy them.
Prices have crashed by as much as 30 per cent in Kebbi to avert total loss, according to investigation by The Guardian.
At Bayankara perishable market and Makera central market in the North Western state, a basket of tomato previously sold for more than N15,000 now goes for N3,000.
In Makera market, where a module of maize sold for N500 and above, the same size now sells for N200.
A federal government agency official in the state, Maruf Ismail, who visited the market, applauded the Abuja policy on naira design, saying it should be welcomed if it can bring down the prices of food items.
“I came into the market today and I was very surprised to see the prices of food items have gone down.
“The price of beans has reduced to N300 from N1000, even the price of maize and other essential food items are now cheaper compared to days ago,” he said.
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Price crash a surprise
Hassan Birnin Kebbi, who also visited the market, commended the naira redesign policy for forcing traders to reduce the prices of goods, according to The Guardian.
“I’m surprised to see how prices of food items have gone down. The traders need cash to exchange their goods, but they couldn’t get customers who will buy because the naira is scarce. This has forced down price of items,” he explained.
But Muhammadu Gwadangwaji, a trader, lamented the poor sales which force price crash so as not to run at a total loss and also to have funds to restock.
“We also want the prices to go down,” he stressed, “the only thing remaining now is the availability of Premium Motor Spirit (PMS) at fuel stations. We want the federal government to make fuel available, as this will also help our businesses.”