Business
Yuletide: Price Of Food Items Rise In Enugu
Traders and consumers in
Enugu metropolis have expressed worries over the rising cost of food items ahead of the yuletide.
The Tide correspondent who monitored some markets in the coal city on Tuesday, reports that the price of rice, vegetable oil, chicken and children’s wears had increased drastically.
The market survey showed that a 50kg bag of rice, which formerly sold at between N10, 000 and N11, 500, now goes for between N12, 500 and N13, 500, depending on the brand.
The 25kg of rice now sells for N7, 500, while the 10 kg and 5kg now sells for N3, 500 and N1, 800, respectively.
Mr Cosmos Ofor, a rice seller at Kenyatta Market, told NAN that the price of rice rose in October because of its scarcity.
According to him, there is the rumour that the Federal Government plans to ban the importation of rice.
Mr Edward Onyekachi, a vegetable oil seller at Kenyatta Market, attributed the price increase to high demand due to the yuletide.
He said that 18 litres of Solive Vegetable oil, which was formerly sold at N4, 600, now sells for N5, 400, while Gino Oil of same size rose to N5, 900 from N5, 600 in October.
The price of medium-sized live chicken has risen from N1, 000 and N1, 200 to N1, 800, while the big ones are from N2, 000 to between N2,500 and N2,800.
Mr Infeanyichukwu Igwe, a chicken seller at the Artisan Market, said the price increase was due to rising cost of feeds as well as high demand by consumers.
Meanwhile, some consumers who spoke to NAN, expressed dismay at the rate price of food items stuff were going up barely two months to Christmas.
Mrs Uju Onyenwe, a civil servant, wondered how people would cope with the situation during the festive season.
Onyenwe complained about the price of rice, which she said, was the staple food for all classes of people at festivities and appealed to governments at all levels to control the price in the interest of the poor masses.
Mr John Ogbodo, a business man, expressed regret over the increase in price of foods, adding that the situation was contrary to what obtained abroad during the yuletide when price was always low.
“In the Western World, there will be sales everywhere so that the “have nots” can afford whatever they want in order to celebrate, but here, the reverse is the case,’’ he said.
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Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE
In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.
According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.
“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.
The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.
Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.
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