RISING COST OF COMMODITIES IN NIGERIA

2020 has not been a good year for the middle class and the poor in Nigeria. The year started on a good note but switched with Corona Virus in the first quarter and later landed the citizens in #ENDSARS crises towards the last quarter.

Today, a bag of rice is sold for 36,000 thousand naira while minimum wage for the federal worker is 30,000 naira. For the State workers, governments determine what they can pay and the story has been “On-Your-Own”.

For those being paid 30,000 minimum wages, the money is meant to bear the cost of renting a shelter, food, transportation and health as the case maybe.

It is no longer news that today in Nigeria, a litre of fuel which used to be 140/145naira has suddenly risen to 161naira amidst corona virus pandemic which has led many workers to suffer job losses.

Nigerians thought the battle on constant increase of fuel is over due to deregulation of the downstream oil sector but it has further worsen the case as a litre of fuel is  now sold for 170naira within few months of the earlier increase.

Immediately the price of fuel shoot up, prices of everything went up starting from cement, blocks, bread, rice, transportation and everything man needs for survival in the market.

Before the pandemic, Nigeria had closed its borders to encourage local production but unfortunately Nigeria produces nothing. Every single purchase from foreign country depends heavily on dollar and we started with a dollar to 300 in the year and today, a dollar to Naira is 465 naira.

A minimum wage of 30 thousand naira is not up to one hundred dollars and yet everything we need is imported into the country and the middle class and poor have no choice than to buy at dollar rate to continue living.

Recently, the government granted a waiver to Alhaji Aliko Dangote, the owner of Dangote the right to bring goods through the land border which was earlier closed to all while other business are to maintain status quo.

Many multinational companies had resorted in producing sachets sizes of their brand to enable the poor afford a taste of what they sell ranging from liquor, antiseptic disinfectants, drinks and other consumables.

Nigeria is currently breaking the poor and the middle class with less earning and higher spending to survive.

Let us not forget that most business and individuals uses generator to power their business and houses while not forgetting that the impact of tax payment hasn’t yielded any good for those paying constantly.

Hunger is a virus that can easily kill the people more than corona virus and police brutality. If care is not taking, the current rise in price of commodities will lead to insecurity as Nigerians will devise several means to survive.

It is either government stabilizes the economy now and citizens kill hunger or the government folds its hand and allows hunger kill its people.

Written by AAT

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