Traders at Nkwo Amaenyi market in Awka have attributed the escalating cost of commodities, particularly food items, to the removal of the petrol subsidy by the federal government.
Speaking with ABS News, Chief Ndubuisi Eke, a wholesale trader, lamented the rising transportation costs that have forced him to scale down operations. “I used to transport goods in bulk using articulated vehicles, but now I can only afford shuttle buses for smaller quantities due to the high expenses,” he said, adding that this has severely impacted his business.
Retailers, including Mrs. Bridget Ekeh, Mrs. Okwudili Agummadu, and Nnonyelum Okonkwo, expressed concern over dwindling sales as consumers struggle to cope with the inflated prices. They highlighted the significant surge in food costs, citing examples such as a paint bucket of cocoyam now selling for ₦6,000, compared to its previous price of ₦1,500, and a basket of tomatoes costing between ₦100,000 and ₦120,000, up from ₦80,000.
The traders called on the federal government to reconsider the removal of the fuel subsidy, emphasizing the hardship it has imposed on businesses and households across the nation. Many believe that a reversal could help stabilize prices and alleviate the growing economic challenges Nigerians are facing.
