[Market Survey] Eid-ul- Adha: How subsidy removal, Naira devaluation is affecting prices of rams, foodstuffs
With only a few days to this year’s Eid-Kabir celebration, Muslims across Nigeria are bemoaning the high cost of ram and other animals allowed for slaughter, and other food stuffs.
Newsclick Nigeria reports that market surveys in Lagos revealed as much as 40% increase in the cost of some of the animals, which traders have said affect the volume of trade compared to the previous years.
While many traders blamed the increase in the cost of the animals on the high cost of transportation caused by the recent removal of the subsidy on Petroleum Motor Spirit (PMS), others, particularly those who import the animals from neighboring countries, blamed it on the naira depreciation, which has weakened the purchasing power of the country’s currency.
Prior to the elimination of subsidies, petrol was sold for N185 per litre. Today, depending on the location, it cost N485 or more. Also yesterday, the US dollar is being traded at N700-N790/ $1.
The cutting effect of economic reality on consumers has further complicated their judgment on whether or not they would be able to afford rams or animals for the sacrifice. This, they claim, is because they must balance their decision with other critical matters that require equal consideration.
Lummy’s Butchery, who sells rams, cows in Egbeda, Lagos lamented that the prices had jacked up.
He Said “The prices of rams and other livestock have gone up tremendously. The ram we sold for 90 to 100 thousand last year is now between 120 to 130 thousand Naira. This is due to the cost of transportation and exchange rate. To get a standard ram now, you will need between 120 to 300 thousand Naira.”
“Gone are those days where you can get ram for as low as 40 thousand Naira. Now so many people cant afford ram and might not kill any livestock this year,” he added.
Newsclick Nigeria also inquired about the prices of rice and some foodstuffs in Lagos.
Below are the current prices of rice and few foodstuffs in Lagos. These prices are for those who are not particular about the brand per se.
- Rice (50kg bag) price in Lagos == N22,000 – N32,000
- Rice (25kg bag) price in Lagos == N14,000 – N18,000
- A basket of Tomato in Lagos == N18,000- N30,000
- A bag of Scotch Bonnet (Rodo)== N14,000- N20,000
- 25 liters of Groundnut oil == N30,000- N35,000
- 10kg of Semo== N6,800-N7,500
- 5kg of Semo== N3,500- N4,200
- Ofada rice (1kg) == N2,050 – N3,000
- Ofada rice (5kg) == N7,000 – N10,000
- Gino Peppe & Onion Tomato Paste – 1 Carton 70g x 50 Sachets: From ₦5,500
- Tasty Tom Tomato Paste Sachets 70g X 20: From ₦2,400
- Gino Magic Peppe & Onions Tomato Paste 70g X 25 Sachets (Half carton): From ₦2,750
- Vitali Tomato Paste – 70g – 50 Pieces (1 carton): From ₦6,700
- De Rica Double Concentrated Tomato Paste 70g X 50 pieces (1 carton): From ₦6,000
- Gino Canned Tomatoes 400g – 3pcs: From ₦2,890
- G & K Gino Tinned Tomato 400g x 10 pieces: From ₦6,700
- Ric-Giko Tomato Sachet – 70g x 50 pieces: From ₦3,075
- De Rica Tomato Paste Sachet – 70g x 25 Pieces: From ₦2,625
- Gino Sachet Tomato Paste 65g x 50 sachets – 1 Carton: From ₦5,250
- Hunts Tomato Sauce 100% Natural 425g X 12 pieces: From ₦6,940
- Gino Party Jollof Tomato Seasoning Mix X 20 Sachets: From ₦3,000
- Tasty tom Jollof Mix Paste – 10 pieces: From ₦1,200
- Knorr Chicken Maggi (Carton): From N21,000
- Knorr Beef Cubes (Carton):From N20,000
- Frozen Mackerel Fish 1 Carton (20 kg): From N48,000
- Frozen Mackerel Fish Half Carton (10 kg): From N25,000
- Frozen Mackerel Fish Quarter Carton (5 kg): From N18,000
- BROILER (Orobo ) CHICKEN – Carton – 10 kilos: From ₦29,500
- Frozen Chicken Carton – 10 KG:From ₦28,000
- Carton Of Frozen Chicken – Cut 4 – 10kg: From ₦28,000
- Frozen Chicken Laps “Soft” – Carton (Local Market): From ₦28,000
- Chicken Wings – 10kg (Carton): From ₦28,000
- Frozen Chicken Laps “Normal” – Carton: From ₦30,000
- Boneless Chicken Carton – 10kg (Local Market): From ₦33,000
- Chicken – Lap Orobo (9-10kg Carton: From ₦29,000
- Frozen Chicken Laps “Soft” – Carton (Local Market): From ₦27,000