Fuel Supply, Harsh Economic Climate; Nigerian Consumers Groan As Food Prices Rise By 50%

Following the persistent shortage in fuel supply and the harsh economic climate, there has been an average of 50 per cent hike in the prices of consumer goods and buyers are complaining bitterly.
In some Lagos markets visited by our correspondent, including Oyingbo, Iddo, Mile 12, Alade and Ipodo, prices of some food items like tomato puree, rice, vegetable oil and seasoning had increased substantially.

Our correspondent found out at the Ipodo Market that a carton of Indomie was sold for N1,500 as against the former price of N1,000; a retail pack of Gino tomato puree(70gm), formerly offered at N1,250, went for N2,700, while a five-litre keg of vegetable oil previously sold for N1,800 was offered for N2,500.