The lockdown to curtail the spread of the coronavirus which took effect 11-days ago is disrupting supply chains, forcing prices of key staples to soar in the country, as Christian’s prepare for the Easter weekend.
From rice to garri and other key food staples, prices have been climbing rapidly in the country since the lockdown fuelled by low supplies and panic buying.
Trucks transporting food items from the north – where they are largely grown to the south – where the markets are located, are becoming scarce, thus, fuelling low supplies.
“It is difficult now to convey food items from the north to Lagos since the lockdown and this is why prices are increasing,” said Godwin Akpa, a yam trader in Mile 12 market.
Despite the government giving exemption to farmers, food processors, distributors, and retailers from the lockdown, owners of trucks conveying food supplies to markets are still afraid to go down South , the few that do, have to bribe security operatives at various checkpoints to gain ease of passage.
“Trucks owners are afraid to come to Lagos because of the lockdown. The few that are willing to come are charging us higher fares because they have to bribe security officers at checkpoints,” Akpa said.
BusinessDay survey at Oyinbo Market in Lagos shows that a 50kg bag of local parboiled rice which was sold for N17,500 eleven days ago now sells for N19,000, indicating a 9 percent increase in price.
Also, a 50kg bag of foreign parboiled rice which was sold for NN22,000 before the lockdown now sells for N27,000, indicating a 23 percent increase.
A 60kg bag of red garri now sells for N26,000 as against N9,000 sold before the lockdown, indicating a 188 percent increase, while a paint bucket of red garri now sells for N1,300 as against N700 sold nine days ago.
A 5litres of vegetable oil which sold for N2,000 before the lockdown now sells for N2,500, indicating a 25 percent increase in price.
For spaghetti, a pack now sells for N4,200 as against N4,000 sold 11 days ago, indicating a 5 percent increase in price.
In Wuse Market in Abuja, a N50kg bag of local parboiled rice now sells for N20,000 as against N18,500 sold before the lockdown, indicating an 8 percent increase.
Similarly, a 60kg bag of garri which was sold for N22,000 before the implementation of the lockdown now sells for N32, 000, indicating a 45 percent increase.
Prices are surging at a time Christians in the country are preparing to celebrate Easter.
Inflation in Africa’s biggest economy accelerated to 12.20 percent in February 2020 and was driven by food inflation, data from the National Bureau of Statistics (NBS) show.
Experts say the country’s inflation for March will further accelerate owing to the continuous rise in food prices when the figures will be released later in the month.
“I and my wife are daily wage earners and since the lockdown, we have not been able to earn any income and prices of food items in the market just keeps rising,” Muyiwa Rahman, a 45-year old bricklayer who lives in Mushin said.
“We do not have any savings, and are yet to get any of the stimulus package shared by both the Federal and State Governments. How then do we survive this lockdown?” he asked.
Nigeria’s economy has been hit hard by the outbreak of the new coronavirus that has triggered a plunge in global crude oil prices.
“We will not be celebrating the Easter as we want to because of the coronavirus pandemic and rising food prices,” Mary Onyesi, a 55-year old trader and mother of four told BusinessDaay.
Josephine Okojie and Bunmi Bailey
