Price hikes: How opportunists spoil the joy of festive seasons

Since the economic situation began to have a negative effect in the last six years, Nigerians seem to be ending every year on a sad note as they pay for goods and services through their noses at this period of the year. Their happy new year every January ends with a harsh December to close […]

Since the economic situation began to have a negative effect in the last six years, Nigerians seem to be ending every year on a sad note as they pay for goods and services through their noses at this period of the year.

Their happy new year every January ends with a harsh December to close the year.

This is so because the end of the year, which begins with the Christmas celebrations turns gloomy as they struggle to buy things they need, at times at double their price.

The only respite Nigerians have had in the last seven years has been the absence of fuel scarcity which used to characterise all other Christmas celebrations.

Apart from this, every other thing – from food items, condiments to clothing, chickens and goats, including simple things such as toothpicks, have their prices increased by at least a quarter of the former cost, if not doubled for some other items.

Similarly, transport fares are always a nightmare to live with for those travelling, as the ‘mafia’ in this sector doesn’t care how people fared with their cut-throat fares.

 

What they only care about was how many millions they make as people boarded their vehicles to their villages and towns to celebrate.

Similar scenario plays out in the elitist alternative as air tickets prices also skyrocket during the period.

These are conditions purposely created by some Nigerians to maximize their profit by inflicting hardship on their fellow citizens in the name of Christmas sales, year-in-year-out.

Nigeria has witnessed economic turmoil in the last six years; it faced two recessions and the COVID-19 induced economic downturn that it is still contending with.

Since then, the people have seen a steady reduction in the purchasing power of their income and a steady inflationary trend leading to hike in the costs of goods and services.

Yearly, festive periods like Christmas are turned into times that Nigerians suffer the most by being subjected to exploitation by economic opportunists in the name of business.

While, elsewhere, goods are sold at discounted prices during festive periods to make things easy for the people, in Nigeria, the reverse is the case.

These are Nigerians, who at the slightest opportunity even in the village markets will tell their customers about how they also find it difficult to sell at lower prices because the “dollar” has gone up or companies have increased prices.

This attitude, coupled with inflation and other factors, have made long-term preparation for Christmas for many families a marathon against many forces waiting to inflict damage to their plans.

Nigerians are known for their penchant for festive seasons, although none is so elaborate as the Christmas for Christians and Sallah (Eid el-Fitr and Eid el-Kabir) celebrated by Muslims.

These celebrations and many others are officially recognised and days are set aside by the government for the people to celebrate them based on their historical, religious or secular significance.

Ramadan which precedes the Eid el-Fitr has always been another period of struggle for Muslims.

As it approaches, prices of sugar, beverages, milk and other foodstuffs such as grains and vegetables go up relentlessly as business people rake in profit at the expense of Nigerians observing the fasting.

A lot of the commodities are hoarded in warehouses to create artificial scarcity and jack prices up.

This practice by traders prompted the Kano State government to take action on marketers two years ago when a bag of Sugar was sold close to N30,000 during Ramadan.

One of its agencies went round opening up warehouses where the commodities were hoarded forcing the marketers to slash prices.

Tales of woe from travellers going to the southeastern part of the country during Christmas revealed how transporters fleece travellers.

Most of the fares, particularly from Lagos to states capitals and cities in the South East were almost doubled or had an increase of close to 50% increase.

The transport companies use the increase in passengers on their routes to hike fares, as travellers have no other choice.

After the new year celebrations, the fare increase remains by the transport companies on their return journeys.

The same thing happens with airlines tickets.

With the commencement of the Ramadan fasting the people are subjected to increase in prices of commodities which make it more difficult as people pay more for less.

This forces households to make adjustments in their budgets and the things they intend to purchase.

However, despite the budget adjustments, many things cost beyond the reach of average households.

This also affects the charity works being undertaken by mosques which include giving food to the poor to break their fast at dusk as the number of food rations goes down as a result of the high cost of food items.

As the fasting days go by, Muslims prepare for Sallah (Eid el-Fitr) which comes after the 30 or 29 days of Ramadan fasting.

Like Christmas, the prices of clothing, chicken, food and other necessities also increase particularly in the last 10 days or one week before the end of the Ramadan.

This also is a cycle that Muslims go through during their festivities like their Christian counterparts in the country.

Sallah (Eid el-Fitr and Eid el-Kabir) are also times that many Muslims leave their bases and travel to their communities in various parts of the country to celebrate.

These developments portrayed us as a people who despite being outwardly religious, derive ye subject ourselves hardship during religious festivities that should instead be a time we should be more compassionate.

Governments’ apparent indifference

Apart from reeling out statistics of rising food prices in our markets all over the country by the National Bureau of Statistics (NBS), the government either at federal or state levels do nothing to check the trend.

They allow these forces to increase prices at will, exploit people and get away with it because their economic policies are also harsh and sometimes provide a cover to justify the actions of the get-rich-quick business people.

What is of interest to the government apparently are the revenues from the factories and Value Added Tax (VAT) on manufactured goods while it does nothing to regulate prices.

Various surveys released by the NBS since October have shown the steady rise in the prices of foodstuff and other basic items in the country which indicates a possible hike during Christmas.

Christmas celebration has come and gone. We have only a few days to the New Year as 2021 comes to an end.

Nigerians will surely put what they experienced in the last 12 months behind them and hope for a better celebration next year.

However, while the year runs out, Muslims are also bracing up for their Ramadan Fast and Eid el-Fitr in just a few months.

Their hope for a better Ramadan and Eid el-Fitr (Sallah) is as it has always been, but looking at the trend in the prices of food and other commodities, just like last year, it may be another tough fasting and Sallah celebrations ahead.

Other factors like insecurity in many parts of the North where these food items are grown are even worse this year as bandits have attacked more villages, pillaged, burnt farms and displaced more people than last year.

This will surely compound the situation as the country is threatened by food shortages and skyrocketing prices.

These bleak festive periods will continue as long as present conditions remained the same or get worse. 

Only God can save Nigerians from those who see festive periods as the best time to make money.