Prices Of rams, essentially needed by Muslims to sacrifice as major part of the Eid-El-Adha or Sallah and other food items, including ingredients, have skyrocketed in the markets across Nigeria.
Price survey showed that an average ram that sold about N50,000 before now has increased to between N170,000 and N200,000.
Ram dealers are already complaining of low sales as buyers complained of the high prices of the rams.
The survey showed that a small container of tomatoes formerly sold for N150 now sells for N2,000, a waste bin basket formerly sold for between N1,500 and N2,000 now goes for N15,000, and a big basket of N10,000 now sells for N175,000 and above.
Also, a basket of Scotch Bonnets, popularly called ‘atarodo’, which used to sell for N1,500, now goes for N12,000. Similarly, a bag of onions now goes for N75,000 as against N50,000 and below that it was sold before.
Meanwhile, the National Bureau of Statistics (NBS), food prices in Nigeria increased 40.53 per cent in April 2024 over the same month in the previous year, and food inflation reached an all-time high of 40.53 per cent in April of 2024.
Source: Business News Report.
