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.
Rams cost as much as N750,000 for a large ram.
This is according to a report by the News Agency of Nigeria, showing the current realities of the bellowing economic hardship in the country.
Newsclick Nigeria reports that market surveys in Lagos revealed as much as 400% 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 N620 or more.
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.
Adamu, who sells rams, cows in Badagry 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 120 to 300 thousand last year is now between 250 to 700 thousand Naira. This is due to the cost of transportation and exchange rate. To get a standard ram now, you will need between 300 to 500 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.
In the Alaba ram market, a large ram sells for a hefty price of N750,000, while medium-sized rams range between N350,000 and N400,000.
Smaller rams are priced from N150,000 to N200,000. The situation is slightly different in the Agbalata market, where big rams are sold for N400,000 to N450,000, medium-sized rams for N250,000 to N300,000, and smaller ones for N120,000 to N150,000.
Reports show that in Ajibade ram market in Aradagun, another seller, Belawu Ajadi highlighted the compounded costs of feeding and transporting the rams as factors contributing to high prices.
“Customer turnout is low compared to last year. By this time in 2023, I had sold over 50 rams; this year, I’ve sold just ten,” Ajadi said. Despite the economic downturn, he remains hopeful that sales will pick up as the festival approaches.
The buyers, too, are feeling the pinch. Yusuf Ajadi, shopping at Alaba market, recounted how prices have more than doubled.
“In 2023, I bought two rams for N280,000. Today, a medium-sized ram costs me N400,000, making it unaffordable to buy two,” he said. Another buyer, Alhaji Taoreed Ajape, expressed shock at the inflated prices. “I came from Ikoga, Badagry, expecting better deals. The ram I bought for N100,000 last year now costs N220,000,” he shared, indicating that he might have to return after securing more funds.
Alhaji Abdul-Salam Hassan, a ram seller at Alaba market, attributed the steep prices to high transportation costs. “I spent N1.5 million transporting my rams from Sokoto State. I need to recoup these costs to make a profit,” he explained. Despite bringing 300 rams to the market since June 5, Hassan has sold fewer than ten. “Many buyers inquire about prices but fail to return,” he lamented.
Hassan also noted that while last year’s prices were considered high, this year’s have skyrocketed due to the removal of fuel subsidies, which has significantly increased transportation costs.
Below are the current prices of rice and few foodstuffs in Lagos in . These prices are for those who are not particular about the brand per se.
- Rice (50kg bag) price in Lagos == (in 2023) N32,000 Now N80,000
- A basket of Tomato in Lagos == (in 2023) N18,000- N30,000 now 180,000
- A bag of Scotch Bonnet (Rodo)== (in 2023) N14,000- N20,000 now N200,000
- 25 liters of Groundnut oil == (in 2023) N30,000- N35,000 Now N50,00o
- 10kg of Semo== (in 2023)-N7,500 now N13,000
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