Nigerians ration Christmas expenses as inflation bites

Many Nigerians are having to ration their spending during this Christmas season due to high consumer costs across the country, a field survey across major markets in Lagos has revealed.

Since February 2016, Nigeria has been grappling with a double-digit inflation rate which worsened to a 17-year high of 21.47% in November, according to official stats. And this high inflation rate is inevitably impacting negatively on household spending this Christmas.

For instances, last year Christmas, a 50kg bag of rice was selling for an average of N29,500. Right now, it is now selling for a minimum of N38,500 and as high as N42,000.

In the same vein, the price of chicken, turkey, groundnut oil, onions and other food items that makes the popular Christmas Jollof a worthwhile meal have also surged in recent times.

In a conversation with Mrs. Eniola at Balogun Market, in Lagos Island, she lamented about the surge in the price of food items. She had earmarked N100,000 to buy food and groceries for Christmas, unfortunately, after buying half a carton of chicken and a 25kg bag of rice, she barely has enough to go by.

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“I came to the market to buy foodstuffs and I am utterly confused about what to buy because my budget is largely inadequate for what I intend to buy,” she lamented.

Visiting the popular food-hub market in Mile-12 in Lagos, the prices of food items have gone up significantly, making it impossible for average Nigerians to buy foodstuff in large quantities, except for the few who came with their jeep, an indication of a deep pocket.

Joy, a consumer at the market explained how she would have to improvise with her cooking this Christmas, seeing that she is unable to buy some of the things she would normally cook during the Christmas celebration.

“I will have to reconsider what I would be cooking. I normally would make pounded yam during Christmas, because my husband loves it, however, I might have to consider some other cassava products that feel like pounded yam, as I cannot afford to buy yam or pounded yam either,” she said.

Traders also lamented poor sales during this period compared to previous years. Paul, a grocery store owner, said people are coming into the market but unfortunately they are only buying in smaller quantities compared to what we witness in Nigeria’s typical Christmas season.

He added that usually, people moving around with live chicken for their Christmas celebration, basically a trademark for the season. However, Nigerians have had to consider buying frozen foods, fish, and other forms of protein as a substitute for live chicken considering that the price has surged to undesirable levels