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Home Economy

Abuja Residents Lament Over Harsh Economy

The residents stated that their once manageable budgets have spiralled into a daily struggle, primarily due to soaring food prices and transportation fares.

Ifeanyi Uzoechiena by Ifeanyi Uzoechiena
November 3, 2024
in Economy, News
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Abuja Residents Lament Over Harsh Economy
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Many residents of the Federal Capital Territory (FCT) have lamented the high cost of food items, noting that they are finding it difficult to feed themselves.

The residents also expressed concern over further increases in transportation fares following the rise in the pump price of Premium Motor Spirit (PMS), commonly known as petrol.

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They spoke to newsmen on Sunday in Abuja.

According to them, the increased fuel price has left residents grappling with the harsh realities of rising living costs.

The residents stated that their once manageable budgets have spiralled into a daily struggle, primarily due to soaring food prices and transportation fares.

They appealed to the Federal Government and relevant authorities to take immediate action to address these issues.

A mother of three, Mrs. Maryam Abusaid, shared her frustration, stating that she often sits at her kitchen table staring at an empty pot.

“Last year, I could buy a bag of rice for ₦50,000, but now it is more than ₦100,000. How can I feed my children?

“With my husband’s salary barely keeping pace with inflation, I often have to choose between meals and essential household items,” she said.

For civil servant and mother of four, Mrs. Ekaite Obot, the situation is no better as she revealed that she has not been able to drive to work or church for the past five months.

“For over five months now, I have not moved my car from the garage because I can no longer afford to fuel or maintain the vehicle.

“The times are really tough for my family. All family expenses have been on me since my husband lost his job as a sales representative.

“I struggle to pay school fees, acquire household items, and feed the family, and with the increasing cost of items, I do not think we can continue to survive on my limited income,” Obot said.

Another civil servant, Mrs. Mary Umeh, while lamenting the increased cost of living, said her saving grace was the contribution scheme (adashi) she participates in with some colleagues.

“We have several platforms where we contribute money monthly, and at the end of the year, we use the money to buy various household items.

“It is almost Christmas now, and I do not have any savings, but I am not worried because I know that we will soon use our adashi money to buy some household items.

“I am sure my family will be able to manage the items, and I will just need a little extra money for other things for the Christmas celebration,” she said.

Similarly, a trader, Mr. Albert Nwakama, lamented his inability to provide for his family due to low sales from his second-hand clothing business, commonly known as “okrika.”

Nwakama stated that he used to open a new bail of clothing every two to three weeks, but in the past six months, he could barely sell a bail of women’s wear.

“I have not experienced anything like this since I began this okrika business nine years ago. Many customers who used to buy my goods have stopped coming to my shop.

“Even some of those who used to give me money in advance to enable me to open new bails now come to borrow money so they can feed their families.

“People are struggling to eat and care for their families, and buying new clothing is no longer a priority, leaving people like me in a dilemma,” he said.

A teacher, Mrs. Nneka Azubuike, remarked that the increased cost of living in the country had turned her into a corporate beggar.

According to Azubuike, every child from a well-to-do family in her class has become a friend due to her selfish reasons.

She said she pays more attention to pupils from wealthy homes because their parents tend to appreciate her for her good deeds.

“I am aware this is unprofessional, but I have to take care of my child because I am a single mother. My salary is not enough to cover our needs.

“I also thought that with the Dangote refinery, fuel prices would reduce and transportation would become affordable in the country, but the reverse is obviously the case.

“The government really needs to find a way to address this transportation issue because it is affecting every sector of the economy, especially food prices,” she said.

For commuter Ibrahim Idris, the surge in transportation fares has significantly impacted his budget for other household necessities.

“I used to spend about ₦400 commuting to the office every day, but now I pay between ₦900 and ₦1,000.

“I am finding it extremely difficult to keep up. I have cut down on most things, yet it is still challenging for me to get to work five times a week,” he said.

On his part, vendor Mr. Sule Adams remarked that his formerly booming business has now slowed as many families are tightening their belts.

“We are experiencing a noticeable decline in customers, and some who come to patronize us always want discounts, which we normally oblige because we want to make sales.

“Most customers who used to buy goods in large quantities and store them in their homes now buy smaller amounts due to the increased costs.

“It is hard for us too; we have to pay for our supplies, and if people are not buying from us, we suffer because we have families to take care of,” Adams said.

Additionally, Ms. Christabel Nicholas, a small business owner, stated she is facing an uphill battle as she must choose between raising prices, displeasing customers, or absorbing the high costs.

“I have had to increase my prices due to the high cost of items in the market, but my regulars are complaining. It is really a tough decision.

“We need government intervention to overcome this situation because Nigerians are sick, hungry, suffering, and dying,” she said.

Journalists reports that the National Bureau of Statistics (NBS), in its Consumer Price Index (CPI) and inflation report for April, showed food inflation increased to 40.53 per cent on a year-on-year basis.

In its July CPI report, the Bureau stated that the headline inflation rate was 9.32 per cent higher than the rate recorded in July 2023, which was 24.08 per cent.

The increase in the headline index for July, both on a year-on-year and month-on-month basis, was attributed to the rise in prices of certain goods and services at the divisional level.

 

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Tags: Abuja ResidentsEconomic Hardshipfood inflationTransport Fare Hike

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