By; EKHASHILI STEPHEN, Kaduna
Traders in essential consumer wares and buyers have lamented poor and slow pace of business occasioned by the recent fuel subsidy removal.
A survey conducted by our correspondent in a neighborhood market located at the Southern part of Kaduna city, showed escalating inflation and subsequent rise in the prices of food items attributed to poor purchasing power by the consumers.
A number of sellers and buyers of foodstuff in the market expressed sadness over the development, describing it as worrisome that would have very negative effects on lives of average households if left unchecked.
A trader in provision who simply identified himself as Mr. Timothy disclosed that the steep increase in fuel price emerged as a critical factor contributing to the rising cost of food.
“The increase of fuel and bad policy has contributed to the increase in price of transportation costs thereby causing an increase in the items I buy from the whole seller which in turn affects the entire supply chain.
“Higher transportation expenses directly impacted the overall cost of goods, forcing us to increase prices to maintain profitability,” he added.
Another seller who preferred to remain anonymous, also opined that insecurity faced by farmers due to various factors, including insecurity in farming regions, has further exacerbated the situation.
“Farmers face challenges such as kidnapping and abduction of farmers in the southern part of Kaduna, killing amongst other cruel mishaps has disrupted the supply chain, thus serving as primary reasons for increased production costs.
“This insecurity has led to decreased agricultural output and subsequently elevated prices for consumers,” he noted.
A trader in edible food items, Mrs. Ruth Emmanuel also spoke, saying that the removal of fuel subsidy and subsequent increase in price of fuel and cost of transportation as major cause of the inflation in price of food items.
“Exchange rate, fluctuation is another factor that affects the prices of items.
“Local currency fluctuates against foreign currencies, the cost of importing essential commodities, including grains and packaged food, increases. Sellers, especially those dependent on imported goods, reported having to adjust prices to accommodate these changes, ultimately burdening consumers,” she stressed.
Buyers of food items also showed their frustration at the increase in prices of items.
A number of buyers who spoke with our reporter, complained bitterly about how the inflation has influenced their purchasing power.
“The increase in food prices has made me learn to cut my coat according to my cloths.
“Buyers now have to buy what they can afford as the prices are now outrageous,”
“If the government cannot reverse to the regime of fuel subsidy,they should at least put measures in place that would cushion the effect of this harsh policy,” he lamented.