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‘Our Distributors Are Scared Of Kidnappers On The Highways’— Traders Lament Rice Supply Gap As Price Set To Hit N50,000 Per Bag

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By Kasarahchi Aniagolu

Nigerians may buy rice at a historic price of N50,000 per 50kg bag during the festive season as kidnapping at the Lagos-Ibadan Expressway is scaring drivers from taking the route.

Traders in the Federal Capital Territory are projecting an increase of over 25 per cent from the N40,000 which the product previously sold, THE WHISTLER has gathered.

THE WHISTLER compared the prices of a bag of rice in four different markets in Abuja namely: Utako, Nyanya, Wuse and Karu

Standard of living in Nigeria is deteriorating principally driven by inflation.

According to the National Bureau of Statistics, Nigeria’s inflation rate jumped to a 17-year high of 21.09 per cent in October 2022.

But more worrisome is the food component which has surged to 23.72per cent in October compared to the 18.34 per cent in the corresponding Month last year.

At the Utako Ultra-Modern Market, the newspaper discovered that the most expensive rice is sold at N43,000, while the cheapest is being sold for N23,000.

Ebere Obi who spoke to THE WHISTLER explained that aside the flood and other factors driving the prices of rice, drivers who supply rice from Lagos have reduced their trips to Abuja due to kidnapping at the Lagos-Ibadan axis.

She said “Normally Christmas celebration affects the price of rice, but this increase started from that lokoja flood. My distributors said they cannot pass, some of my distributors also said it is because of the price of diesel.

“The driver that brings rice for me from Lagos State has refused to come because his colleague was kidnapped along that Ibadan expressway. So you see, fear of being kidnapped on the way has contributed to this increase.

“Now those people that risk their lives to transport the rice are few, and they take the opportunity to increase price, now demand is more than supply, we are left with no choice but to buy like that.”

Mrs Grace Okpara, who is also a rice dealer at Lagos Street said the same thing.”

Traders at Nyanya Main Market who spoke to THE WHISTLER lamented that the increase in prices of commodities is also affecting the quantity of stocks that they can afford.

Josephine Tochukwu, a wholesaler said, “Very soon, a bag of foreign rice will be sold at N50, 000. The most expensive rice for now is Mr. Rice and Double Horse and they are both foreign rice and I sell for N45,000, followed by the Nigerian ri ce big bull, and we sell it for N40,000, Mamas choice is N37,500 which used to be N35,000 and it just increased.

“In December, price increase is normal because of the Christmas celebration, but the way it is increasing this year is scary. Before, every week I buy at least fifty bags of rice. Now, I can afford only thirty bags. this is affecting my business.”

But despite the hike in price, the brands are still the most sought-after due to their long grains and attractive white color when cooked.

A retailer, Blessing Okoye is also affected by price increases as she may have to buy a lesser quantity for sale compared to last year.

She lamented, “I buy four different brands of rice from wholesalers. I bought a bag of foreign rice for N40,000, but now they sell to me at N45,000. Local rice
was N37,000, but they sold to me now at N40,000.

“I sell in mudu which is nine tin cups of rice, I sell in tin cups also, now the mudu of foreign rice is N1,500, and a cup is N170. For Nigerian best rice a mudu is N1,350 and a cup is N150, for local stone free a mudu is N1,250 and a cup is N140, and finally the local stone is N900 per mudu and a cup for N100.

“if I return to restock my shop, I’m sure that I will be buying at a different price again and I’m sure it will not reduce, because “nothing wey go up for this country they ever come down.”

‘Our Distributors Are Scared Of Kidnappers On The Highways’— Traders Lament Rice Supply Gap As Price Set To Hit N50,000 Per BagKasarahchi AniagoluNigerians may buy rice at a historic price of N50,000 per 50kg bag during the festive season as kidnapping at the Lagos-Ibadan Expressway is scaring drivers from taking the route.Traders in the Federal Capital Territory are projecting an increase of over 25 per cent from the N40,000 which the product previously sold, THE WHISTLER has gathered.THE WHISTLER compared the prices of a bag of rice in four different markets in Abuja namely: Utako, Nyanya, Wuse and KaruStandard of living in Nigeria is deteriorating principally driven by inflation.According to the National Bureau of Statistics, Nigeria’s inflation rate jumped to a 17-year high of 21.09 per cent in October 2022.But more worrisome is the food component which has surged to 23.72per cent in October compared to the 18.34 per cent in the corresponding Month last year.At the Utako Ultra-Modern Market, the newspaper discovered that the most expensive rice is sold at N43,000, while the cheapest is being sold for N23,000.Ebere Obi who spoke to THE WHISTLER explained that aside the flood and other factors driving the prices of rice, drivers who supply rice from Lagos have reduced their trips to Abuja due to kidnapping at the Lagos-Ibadan axis. She said “Normally Christmas celebration affects the price of rice, but this increase started from that lokoja flood. My distributors said they cannot pass, some of my distributors also said it is because of the price of diesel.”The driver that brings rice for me from Lagos State has refused to come because his colleague was kidnapped along that Ibadan expressway. So you see, fear of being kidnapped on the way has contributed to this increase.”Now those people that risk their lives to transport the rice are few, and they take the opportunity to increase price, now demand is more than supply, we are left with no choice but to buy like that.”Mrs Grace Okpara, who is also a rice dealer at Lagos Street said the same thing.”Traders at Nyanya Main Market who spoke to THE WHISTLER lamented that the increase in prices of commodities is also affecting the quantity of stocks that they can afford.Josephine Tochukwu, a wholesaler said, “Very soon, a bag of foreign rice will be sold at N50, 000. The most expensive rice for now is Mr. Rice and Double Horse and they are both foreign rice and I sell for N45,000, followed by the Nigerian ri ce big bull, and we sell it for N40,000, Mamas choice is N37,500 which used to be N35,000 and it just increased.“In December, price increase is normal because of the Christmas celebration, but the way it is increasing this year is scary. Before, every week I buy at least fifty bags of rice. Now, I can afford only thirty bags. this is affecting my business.”But despite the hike in price, the brands are still the most sought-after due to their long grains and attractive white color when cooked.A retailer, Blessing Okoye is also affected by price increases as she may have to buy a lesser quantity for sale compared to last year.She lamented, “I buy four different brands of rice from wholesalers. I bought a bag of foreign rice for N40,000, but now they sell to me at N45,000. Local rice was N37,000, but they sold to me now at N40,000.“I sell in mudu which is nine tin cups of rice, I sell in tin cups also, now the mudu of foreign rice is N1,500, and a cup is N170. For Nigerian best rice a mudu is N1,350 and a cup is N150, for local stone free a mudu is N1,250 and a cup is N140, and finally the local stone is N900 per mudu and a cup for N100.“if I return to restock my shop, I’m sure that I will be buying at a different price again and I’m sure it will not reduce, because “nothing wey go up for this country they ever come down.” THE WHISTLER gathered that prices at Wuse market was already at N47,000 heading to N50,000.Traders who spoke to the website lamented that the high demand for imported rice, foreign exchange and flood are responsible for the record price increase.Usman Abubakar said, “I have never seen rice increase the way it did this year, can you imagine, a double horse is N47,000.”When we finally receive our supply, you hear that an increase of N1,500 on your previous amount, we cannot reject the rice, if we do there will be no supply when next we demand.”Mr. Edwin Effiong, a trader in the market said, “Rice is the bride of Christmas, it’s a must for every Christian home celebrating this festive period. So, people must buy no matter what we sell at, I wouldn’t be surprised if a double horse gets to N50,000.”Ogechi Iloka a wholesaler at the popular Karu Market also hinted of an imminent price increase from the N47,000 she sells.Iloka said, “I have rice as high as N47,000 which is Double Horse because of its grain and I have local brands that sell for N32,000 but are mostly stoned. As a businesswoman, I buy at least 200 bags of rice, despite the increase in price, what is more important is to turn up in business. “Christmas comes with so much rush and demand, but this year a lot of things has affected prices of foodstuff. Insecurity on the road, the Lokoja flood, increase in dollar and so many other reasons.”

gathered that prices at Wuse market was already at N47,000 heading to N50,000.

Traders who spoke to the website lamented that the high demand for imported rice, foreign exchange and flood are responsible for the record price increase.

Usman Abubakar said, “I have never seen rice increase the way it did this year, can you imagine, a double horse is N47,000.

“When we finally receive our supply, you hear that an increase of N1,500 on your previous amount, we cannot reject the rice, if we do there will be no supply when next we demand.”

Mr. Edwin Effiong, a trader in the market said, “Rice is the bride of Christmas, it’s a must for every Christian home celebrating this festive period. So, people must buy no matter what we sell at, I wouldn’t be surprised if a double horse gets to N50,000.”

Ogechi Iloka a wholesaler at the popular Karu Market also hinted of an imminent price increase from the N47,000 she sells.

Iloka said, “I have rice as high as N47,000 which is Double Horse because of its grain and I have local brands that sell for N32,000 but are mostly stoned. As a businesswoman, I buy at least 200 bags of rice, despite the increase in price, what is more important is to turn up in business.

“Christmas comes with so much rush and demand, but this year a lot of things has affected prices of foodstuff. Insecurity on the road, the Lokoja flood, increase in dollar and so many other reasons.”

‘Our Distributors Are Scared Of Kidnappers On The Highways’— Traders Lament Rice Supply Gap As Price Set To Hit N50,000 Per Bag is first published on The Whistler Newspaper

Source: The Whistler.