Jacinta Chisom OguadinmaResidents of Anambra State have lamented the persistent rise in costs of things across the country.
The high costs of things including food items, building materials, petroleum products and other commodities, has made life difficult for many people in different parts of the country.
Join our WhatsApp ChannelThe latest inflation report released by the National Bureau of Statistics (NBS) shows that the headline inflation rose to 33.69 per cent in April 2024 from the 32.20 per cent recorded in March this year. This is as food inflation further rose to 40.5 percent in the month of April from 40 per cent in March.
Currently, the cost of a 50kg bag of cement hovers between N8,500 and N10,500 in retail markets. This is about 100 per cent hike when compared to N5,000 it was sold last year. Also, the prices of food items have continued to rise.
In an interview with Prime Business Africa, some businessmen, professionals, artisans and buyers in various places across Anambra expressed concerns about the situation and called for an urgent measure to mitigate the sufferings of people.
A contractor who was supervising a building somewhere at Amada Village, Oraukwu town stated that the hike in prices of cement and other building materials have dealt a big blow to his business, lamenting that it is not always what they budget that they encounter at the market, and most times, the owner of the building thinks they are adding their own price.
Thomas Ikenna, a cement seller in Nnewi, said: “The High price is really affecting the cement industry as people no longer build. When people consider the price of cement, they rather spend the money on food items than building but those who have the money buy, just that the buying rate is declining day by day.”
Mr Uchenna Oguadimma, a herbal medicine seller from Oraukwu, said the high price in the materials he uses in the production has impacted on his business. “I used to buy a gallon of local gin at the rate of N28,000 now N34,000. Should I talk about the bottles I use for packaging, I just want the price of things to reduce”
“In the health industry, the price of drugs has skyrocketed to the extent that the sick cannot even afford to buy drugs to take care of their health needs.”
A retired government worker from Nneni complained that the price of medicine has adversely hit her budget. “Some part of my pension is being consumed by the medicines that I buy daily.”
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High Cost of Feeds Worry Livestock Farmers
Those in poultry farming have also complained that the price of feeding for their chicken, fish and pig has gone so high. Mr George, a livestock farmer at Oraukwu town disclosed that since the beginning of this year, the prices of materials for his business have gone very high that he has to stop rearing goats. “Formally, my farm was filled with chickens, goat, catfish and pig but because of how expensive feeds are at the market, I have to restrategise, I rear what is in demand, if you check, that building is for goats but right now, it’s empty. Earlier I used to earn up to N200,000 daily just on eggs, but my earnings have come down below N100,000 in the past few months as people are reluctant to buy eggs and chicken, talk less of fish at higher rates,” he said.
Mr Obinna who runs a fast food joint in Nimo, said the price of things right now has hit the common man as well as small businessmen, “If you look inside, you will notice that I am just surviving, customers hardly come, no money to even buy food.”
Another food vendor at Oyi market located at Neni stated that she is unable to make profit because she couldn’t increase the price of food she sells despite the high cost of things because of the fear of losing customers. “I am not earning any profit these days. I came out here in order to avoid problems at home. Everyone is not happy at all,” she said.
“I am so bitter, the price of garri has gone high. A painter of garri that I bought N2,600 just five days ago is now N3,000, the funny part is that sellers are very angry when you stand to negotiate price with them, they speak to you in an aggressive manner,” a customer to one of the food vendors in the market voiced out.
Amidst the whole situation, the people are calling on the government to help make life better for everyone.
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