• Latest

    Prices of goods crash in the market 21 days before Christmas

    Amidst recession, the prices of basic food items have crashed as the festive season draws near
    - A survey conducted by NAIJ.com at Ile-Epo market, Abule-Egba, Lagos, reveals the reduction in the price of rice, beans, garri and other perishable goods
    - Traders ascribe this to the availability of the food items occasioned by the season
    Amidst the recession Nigeria is presently battling, the prices of some basic food items have crashed.

    The rise in the price of the commodities came after President Muhammadu Buhari said he was disturbed by how people tend to make brisk profits by increasing the prices of food and fruits at times like this.
    A survey conducted by NAIJ.com at Ile-Epo market, it was discovered that the prices of some food items have witnessed a relative reduction as a result of its availability.
    Iya Zainab, who sells kitchen utensils while commenting on the reduction in prices of the products, said manufacturers decided to cut down the products prices in order to attract many people to make purchases.
    She said: "Buyers come into the market and not patronizing us, this is affecting us the traders and as well the manufacturers. The rush of the festivity has not been there lately, this then led to the decision by the manufacturing companies to reduce the prices of their product, in order to attract sales.
    "There will be an increase in the sales of our products due to the reduced rates; we expect positive response from our customers as the year ends."
    It was also learnt that the prices of food items have increased while others have reduced. For fruits like pineapple, pawpaw, orange and water melon, the prices have reduced while imported fruits like, plum, grape, and pear are more expensive.
    Tomatoes, fish, fruits, dry pepper and crayfish among others staple foods have reduced a bit as the festive period draws near.
    Source: NAIJ

    No comments