News

Citizens Groan As Rice Hits N77,000 Per Bag

Published

12 months ago

February 11, 2024

This is not the best of times for Nigerian families, who have had to adopt bizarre cost-cutting measures to cope with the recent hardship occasioned by the dramatic hike in the prices of goods and services.

Several of them lamented that their income could no longer take care of their daily needs, adding that the prices of staples had almost tripled in the market. Rice, which is arguably one of the commonest consumed staples in the country, has risen to N77,000 per bag.

In December, the National Bureau of Statistics stated that the country’s inflation rate hit a 27-year high as headline inflation rose to 28.9 per cent.

The December headline inflation rate showed an increase of 0.72 percent when compared to the previous month’s rate.

In recent years, food prices have been on the rise across Nigeria. The situation deteriorated due to the impact of government policies such as the removal of subsidy on petrol and the free fall of the naira in the foreign exchange market.

Foodstuffs sellers in major cities, who spoke to Sunday PUNCH, lamented that the cost of a bag of rice had risen almost 200 per cent.

Sunday PUNCH gathered that long grain rice, which used to sell for between N45,000 and N50,000 in November, now costs over N70,000, putting a huge pressure on the consumers.

The unprecedented increase in the prices of commodities has caused nationwide hardship, with residents of some major cities taking to the streets to register their displeasure.

From Kano to Niger, Rivers to and Osun, residents protested the hardship on the streets.

In Niger State, for instance, residents of Suleja took to the street last Wednesday to register their displeasure over the high cost of living in the country.

Wednesday’s protest came two days after a similar protest in Minna, the state capital.

The Organised Labour on Friday insisted on embarking on an industrial action to register its displeasure over the current economic hardship in the country.

Although the Federal Government has ordered the distribution of grains and other items to cushion the effects of the economic crisis across the country, citizens are still grappling with the hike in the prices of commodities.

Lagos residents lament

In Lagos, some residents, who spoke to one of our correspondents, lamented that the incessant increase in the prices of foodstuffs had strained their finances.

This is as they urged the government to intervene before things got out of hand.

A mother of two, Mrs Mede Orunmade, said this present situation had made life unbearable for her and her family.

Orunmade stated that it was as though the country was at war, adding that the hike in the prices of foodstuffs was continuous.

She said, “It has been a hard time for me and my family. The country hasn’t been in the right position for the past eight months. I have been struggling with my family to clear up our electricity bills. Coupled with the ever-rising price of foodstuffs, I don’t know if I am going to survive.

“I used to operate an online business but it has packed up. There’s no gain on any business in Nigeria like before anymore. I am just striving to survive.

“The surprising thing is that a small carton of noodles is now N7,000 to N7,800. We used to buy it for between N1,900 and N2,000 in the past. It is so shocking that the price of a bag of rice continues to change almost every minute.

“A bag of rice five months ago was around N49,000, but it increased to N68,000. As of yesterday (Thursday), my supplier said it had risen to N70,000. The cheapest thing we used to buy before, garri, is now N2,500 for a paint bucket. It was N800 before.”

Another Lagos resident and father of four, Mr Taiwo Babatunde, said he could no longer afford to feed his family like he used to.

He asked the government to come to her aid, as her suffering was becoming too much.

A housewife simply identified as Wunmi said, “The government needs to come to our aid now as everything is very hard. A bag of beans is now N65,000, which is three times the price it used to be. Also, groundnut oil is now N8,400 for four litres, and a bag of rice is now N70,000.

“This is getting too much. We hope the government will come to help us.”

Further findings by our correspondents revealed that a kilogramme of Semovita, which sold for N800 four months ago, now sells for N1,200.

The price of beans also increased from around N1,500 to N4,200 per tin.

Some women, who spoke to one of our correspondents at the Ibafo Market, Ogun State, lamented the difficulties they were facing in purchasing items from the market with little resources.

A trader, Mrs Bamise Olaiya, said, “The prices of the foodstuffs are just annoying. I came to the market with N8,000 to buy some food items but the prices have changed between last week and now. Just last week, I bought three portions of tomatoes for N1,200 and pepper for N1,000, but today I have spent N4,200 for the same items. Pepper grinding has also increased from N200 to N300.”

Businesses struggling – Traders

Entrepreneurs across various sectors are feeling the pinch as they struggle to navigate through the challenging times.

A skincare consultant, Mr Damilola Olasunkanmi, said the current economic situation had almost put her out of business.

“I don’t get customers like I used to. My customers are cutting down on skincare purchases to prioritise other essentials like food and transportation, and that is affecting sales significantly. Restocking has become a daunting task as costs continue to soar,” he said.

Similarly, a dental therapist managing a private clinic in Iwo, Osun State, Dr Oluwafemi Ogunsakin, noted that the surge in the cost of his services had deterred patients from seeking dental care.

A foodstuffs retailer, Mrs Ore Ilerioluwa, lamented that the increase in prices had continued to threaten the operation of her business.

She said, “I buy foodstuffs from the market wholesale and sell them in a little shop I run at home. But these daily changes in the prices of items are affecting me so much that I find it difficult to buy the items.

“Do you know that three days ago I bought a carton of spaghetti for N13,000, today I was told it was N14,000. Now, when you add to the cost of each one today, by the time you return, the prices will have gone up again.

“So, you will be forced to add more money. A bag of beans is now N120,000, whereas it was N70,000 before. People are going for anything cheap now. Many families are hungry.”

Another foodstuffs seller at the Magboro Market in the Obafemi-Owode Local Government Area, Ogun State, Sukurat Akanni, complained that prices of many items had doubled.

Another trader, Adeola Israel, noted that a bag of brown beans had increased to N62,000, while a paint rubber now costs N6,200.

She lamented that she no longer made as much sales as she used to in the past.

Govt concerned – A’Ibom

The Akwa Ibom State Governor, Umo Eno, said that his administration had concluded plans to establish a bulk purchase agency to regulate prices of foodstuffs and bring them within the reach of the citizens.

The governor announced this on Friday during the Nigerian Unity Conference 2024 tagged, ‘That We May be One’, organised by the 10th Episcopal District, Christian Methodist Episcopal Church, at the Ibom Hall, Uyo.

He said that a bill to establish the agency would soon be sent to the state House of Assembly for legal backing to enable the agency to intervene and stem skyrocketing food prices in the state.

Kwara gives palliatives

The Kwara State Government delivered 10,000 bags of 10kg rice to labour unions for onward distribution to their members.

This was disclosed by the Chief Press Secretary to the Governor, Rafiu Ajakaye, on Friday, following an engagement with Governor AbdulRahman AbdulRazaq.

In their separate remarks, the state chairmen of the Trade Union Congress, Joseph Meshach, and the Nigerian Labour Congress, Saheed Olayinka, commended the governor for his continuous efforts to provide relief to the people in the state

Anambra residents groan

Residents of Anambra State are battling with the soaring costs of food items like rice, beans, garri, palm oil, tomatoes, onions, fruits, and others in the various markets across the state.

One of our correspondents, who spoke to residents and marketers in Awka, the state capital, and Onitsha on Saturday, gathered that the high cost of items was attributed to the rise in the value of the dollar, just as the situation dampened the mood of the people and forced them to ration food.

A visit to the Relief Market in Onitsha, and the Eke-Awka Market in Awka, showed that a 50kg bag of foreign rice was sold for N72,000 as against N51,000 a month ago. A full bag of iron beans was sold for N110,000 as against N89,000 a month ago

News

FG to conduct MSMEs census in 2025 – Minister

Published

1 hour ago

January 27, 2025

Kayode Sanni-Arewa

The Federal Ministry of Industry, Trade, and Investment has announced plans to conduct a nationwide census of Micro, Small, and Medium Enterprises in 2025, as part of its economic growth and industrial transformation strategy.

The Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, revealed this in the FMITI 2025 outlook document which outlined the ministry’s key priorities for the new year.

Oduwole, along with the Minister of State for Industry, Senator John Enoh, described the census as a critical step toward “conducting a nationwide census to establish a precise, data-driven roadmap for empowering MSMEs.”

Oduwole described 2025 as a pivotal year for the country’s economic diversification efforts, promising measurable impacts through policy reforms and strategic initiatives.

“The Federal Ministry of Industry, Trade, and Investment has commenced a new chapter in driving Nigeria’s economic diversification by implementing targeted policies and reforms to accelerate industrialisation, digitisation, creative arts, manufacturing, and innovation,” Oduwole said.

She added that the ministry will remain focused on strengthening trade policy implementation, fostering private-sector competitiveness, and ensuring businesses thrive in local and global markets. “Our goal is to facilitate the creation of wealth, productive jobs, and shared prosperity for all Nigerians,” she noted.

Highlighting the ministry’s 2025 outlook, Oduwole stated that FMITI’s initiatives will focus on three critical areas: economic diversification, trade revenue growth, and investment mobilisation.

FMITI will accelerate industrialisation by engaging initiatives including rehabilitating export processing zones, prioritising intellectual property protection, and promoting tech and artificial intelligence for trade and investment.

According to the FMITI 2025 outlook, the ministry aims to ensure exportable food products meet international safety standards in collaboration with the Ministry of Agriculture.

Further, the ministry noted it plans to revise the country’s trade and investment strategies to support an export-led economy.

Oduwole emphasised the African Continental Free Trade Area to champion trade and enter preferential trade agreements with key countries to boost foreign exchange earnings.

She stated that the ministry’s efforts will focus on retaining domestic investors, modernising the regulatory framework, establishing sub-national One-Stop Investment Centers and launching an investment portal to track and promote investment flows holistically.

Oduwole assured stakeholders of the ministry’s commitment to transparent communication and collaboration, adding “FMITI will share periodic updates on its performance, as independently verified by the Central Delivery Coordinating Unit.”

Moreover, the Minister of State for Industry, Enoh, shared his vision for the industrial sector, focusing on competitiveness, innovation, and sustainable growth.

Among the ministry’s priorities is unlocking the potential of the Nigerian Automotive Industry Development Plan to foster local manufacturing.

Enoh also highlighted plans to expand the Special Agro-Processing Zones and revitalise the Cotton, Textile, and Garment sectors to enhance exports creating millions of jobs.

Additionally, the ministry noted it plans to advance the country’s self-sufficiency in petrochemical, chemical, and pharmaceutical manufacturing through strategic investments.

Senator Enoh emphasised the importance of the Industrial Revolution Work Group, a task force dedicated to reengineering the Nigeria Industrial Revolution Plan for sustainable industrialisation.

News

Consumers kick as IBEDC hikes energy cost

Published

1 hour ago

January 27, 2025

Kayode Sanni-Arewa

The Ibadan Electricity Distribution Company is under fire for raising its minimum energy credit purchase requirement for Band A customers to N5,000.

The Disco also capped the minimum energy credit for customers on other bands at N2,000, sparking outrage and condemnation from various consumer groups.

In a message to its customers, the IBEDC said, “Please be informed of a recent update regarding IBEDC electricity recharge. Users on Band A must now make a minimum recharge purchase of N5,000. Users in other bands must make a minimum purchase of N2,000.

“Kindly note that this new payment structure is effective already and applies exclusively to IBEDC customers.”

The PUNCH reports that before now, customers were allowed to purchase energy credit of any amount and this still operates in other Discos except the IBEDC.

The spokesperson of the Ibadan Disco, Busolami Tunwase, said this new policy was to curb energy theft, but she did not give further details about how this will be achieved.

“It’s part of efforts at curbing energy theft,” she tersely replied when our correspondent contacted her.

Defending the initiative, a top official of the company who did not want to be mentioned, said currently, while reviewing the vending platform, it was discovered that some customers were vending low amounts which they use for a whole month, wondering if this could be possible.

“If a Band A customer vends 50 units, the amount to pay is N10,450 exclusive of VAT. So, this means the customer is using less than two units a day for one month? We think this is practically impossible,” the official stated.

He noted that some customers were engaging in meter bypass, thereby paying little to enjoy a stable power supply.

Speaking on the matter, the National Coordinator of All Electricity Consumers Forum, Adeola Samuel-Ilori, noted that the policy has to be reversed to avoid backslashes.

Samuel-Ilori said it is against consumers’ right to choice and this may trigger litigations.

“It’s unacceptable to take away the right of people to choose what their purchasing power can afford. Electricity is not a privilege but a right under the constitution and power sector law of operation. A reversal will be required in my official letter to the IBEDC this week. And after the ultimatum, we may engage litigations to compel reversal,” he told The PUNCH.

Also, the Convener of PowerUp Nigeria, Adetayo Adegbemle, remarked, “I don’t think there’s anything in the Nigerian Electricity Regulatory Commission’s regulation that supports such limitations from IBEDC. I understand IBEDC is trying to raise its collections, but it needs to be careful not to incur further penalties from the regulators.”

Adegbemle maintained that the policy will not curb energy theft, but it will rather encourage it if people are not able to vend according to their pockets.

The President of the Nigeria Consumer Protection Network, Kola Olubiyo, told our correspondent that the Federal Competition And Consumer Protection Commission and the Nigerian Electricity Regulatory Commission are already investigating the allegations.

He said, “The very essence of promoting a competitive electricity market and the right to choice and freedom of the end-user customers in these particular circumstances are being undermined.

“It is an absurdity and an unthinkable monopolistic conscription of the demand side of the market.”

Similarly, the Executive Director of the Electricity Consumer Protection Advocacy Centre, Princewill Okorie, lamented that the power sector is increasingly becoming oppressive and anti-consumer friendly, reeling out policies that are not in line with realities.

Okorie wondered why a customer would be compelled to buy the quantity of product he is not ready for.

Okorie stressed, “The Federal Competition and Consumer Protection Commission should be approached to do its job of protecting consumers in line with the provisions of their Act.

“Why will a consumer be forced to buy the quantity of product he is not ready for? This administration needs to explain if they are here to protect the welfare and security of the people or to oppress them. Civil liberty and civil rights need to be protected.”

Credit: PUNCH

News

JAMB introduces mock UTME for underage candidates

Published

1 hour ago

January 27, 2025

Kayode Sanni-Arewa

The Joint Admissions and Matriculation Board has introduced a mock Unified Tertiary Matriculation Examination for candidates below the age of 16.

JAMB Registrar, Prof. Ishaq Oloyede, explained that the mock UTME is not for the purpose of tertiary institution admission but for underage seeking to test their ability.

Oloyede spoke on Sunday at a meeting with media executives in Lagos, where he also announced that this year’s UTME will hold on March 8, 2025.

“We are starting the sale of forms on the 31st of January till 5th of March. There will be a mock exam on the 23rd of February and on the 8th of March there will be UTME,” the JAMB Registrar said.

Oloyede mentioned that JAMB would be introducing a mock for trial-testing examination only this year.

He explained that the mock-trial-testing examination is for individuals who would not qualify for admission into universities, polytechnics or colleges of education because they are below the age of 16 years.

He added that to qualify to write UTME and secure admission into universities, polytechnics or colleges of education, candidates must be 16 years old on or before September 30.

According to the don, candidates who do not desire admission for 2025 but wish to have CBT experience could register for mock only for trial testing.

He noted that the sale of Direct Entry application documents and e-PIN vending would commence on March 10 and April 7.

Oloyede explained that those wishing to write UTME with mock would pay N8,200, UTME only (without mock) N7,200, trial-testing mock only (for underage or testing only) and direct entry candidate N5,700.

The JAMB registrar explained that the board would be enforcing the 16-year age limit for this year’s UTME registration, noting that only gifted candidates below 15 years old be allowed to register.

He added that to qualify to secure admission as an underage, the candidate must score not less than 280 marks in UTME and perform exceptionally in its senior secondary certificate and post-UTME examinations.

“The policy meeting on admission adopted 16 years as the minimum for 2024 admission. JAMB tried to assist by extending the date to accommodate more candidates, but we were taken to court to reverse the extension to 16 years,” he explained.

Former Minister of Education, Prof. Tahir Mamman, announced last year that only candidates aged 18 and above would be admitted into tertiary institutions in the country.

The declaration attracted a lot of criticisms from Nigerians, which forced the Federal Government to reverse the decision.

Mamman’s successor, Dr Tunji Alausa, suspended the 18-year admission benchmark for tertiary institutions in the country in November 2024.

Meanwhile, Oloyede disclosed that 870 computer-based test centres had been screened and provisionally listed for the 2025 UTME compared to 747 approved last year.