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Amidst Panic Buying, Experts Urge Nigerians To Buy Basic Needs

Published

6 years ago

March 26, 2020

For fear of possible lockdown due to COVID-19 pandemic, Ibadan residents, in Oyo State, yesterday, trooped to markets in the metropolis to stock up foodstuffs.
Our source, who monitored some major markets in Ibadan, reported that people were seen in large numbers buying foodstuffs and other basic necessities.
Most sellers jettisoned the safety protocols and were going about their businesses.
At Bodija and Oja Oba markets in Ibadan, only a few buyers were seen with nose masks and hand gloves, while some park managers were seen making use of hand sanitisers, as they ensured that cars were parked at the markets’ car parks.
While some buyers complained of increased prices of some items, sellers were cashing in on the situation to make brisk business.
One of the buyers, Mrs Moradeyo Hamzat, said only a few food items had their prices hiked.
“A measure of ‘Garri Oyo’ is now being sold for N180 as against N130 that it used to be, while yam that used to sell for N1,500 is now N2,500.
“I also noticed that the price of rice, both local and foreign, and those of vegetable oil did not change,” she said.
Also, Ms Adeola Adedigba, said she was in the market to stock up, as she did not want to be caught in the web of the government declaring total lockdown.
She stated that the prices of pepper and tomatoes had doubled, adding that there had been over 50 per cent increase on some other food items.
“I can only wish for things to get better, as many people do not have money to stock their homes at this time,” Adedigba said.
A seller at Bodija market, Mrs Aminat Bamgbose, said there had been a 20 to 30 per cent increase in prices of foodstuffs, while demand had jumped up to 50 per cent.
She stated that only a few sellers in the market were following safety protocols, such as covering of noses with nose masks and using hand sanitisers.
A yam seller, Mrs Aina Oriowo, said it was not their intention to increase the price of their goods but that the demand was getting higher than the supply.
Oriowo noted that sellers also paid cut-throat prices to purchase goods, as middlemen were scared of the situation and were bent on making quick gains.
Another seller, Alhaja Monsurat Anisere, said that the goods they bought were equally expensive, adding that by the time other costs were added, the selling price would have to slightly increase.
She debunked the insinuations that sellers were taking advantage of the buyers at this time.
When asked why sellers at Bodija markets were not adhering to safety protocols, she said that the virus was not for the common man.
Some economic experts have cautioned Nigerians to only spend their money on buying their basic needs.
A financial expert, Mrs Lolade Adesola, said since no one knew how long the situation would last, people should be smart in their spending at this time.
“Let’s be indoors and find ways to block all leakages and wastage of money because it might affect employers of labour in the long run, if the situation persists.
“The private sector may want to downsize if the situation worsens. So people should conserve whatever amount they have now,” Adesola said.
Also, an economist, Mr Raji Rasaki, said Nigerians should prioritise their needs and look inward.
“The common man should rely less on imported food, because, in the past, the food we consumed majorly were being produced in the country.
“Let’s look inward at what we can do that will fetch us something in the nearest future, like going back to subsistence farming.
“Let’s start planting what we can eat so that our reliance on foreign goods will reduce to the barest minimum,” Rasaki said.

Featured

Fubara Redeploys Green As Commissioner For Justice

Published

5 days ago

December 30, 2025

The Tide

The Governor of Rivers State, Sir Siminalayi Fubara, has approved a minor cabinet reshuffle in the State Executive Council.

Under the new disposition, Barrister Christopher Green, who until now served as Commissioner for Sports, has been redeployed to the Ministry of Justice as the Honourable Attorney General and Commissioner for Justice.

This is contained in an official statement signed by Dr. Honour Sirawoo, Permanent Secretary, Ministry of Information and Communications.

According to the statement, Barrister Green will also continue to coordinate the activities of the Ministry of Sports pending the appointment of a substantive Commissioner to oversee the ministry.

The redeployment, which takes immediate effect, was approved at the last State Executive Council meeting for the year 2025, underscoring the Governor’s commitment to strengthening governance, ensuring continuity in service delivery, and optimising the performance of key ministries within the state.

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Fubara Restates Commitment To Peace, Development …Commissions 10.7km Egbeda–Omerelu Road

Published

3 weeks ago

December 12, 2025

The Tide

Rivers State Governor, Sir Siminalayi Fubara, has declared that his administration will ensure the delivery of developmental projects and the prevalence of peace in all parts of Rivers State.

The Governor emphasized that the achievement of these lofty ideals can only occur through the unwavering contributions of all Rivers stakeholders.

Speaking during the commissioning of the 10.7-kilometre Egbeda–Omerelu Road constructed by his administration, the governor said Rivers State can only move forward when its people choose unity over division.

He assured Rivers people that development projects would reach every part of the State but cautioned that progress cannot thrive where conflict persists.

Reflecting on the project, Governor Fubara recalled that the road was a promise he made during the inauguration of the first phase about a year ago.

“We made a promise that we were going to do this project, and today I am happy that the government has fulfilled that promise made to Emohua people, Egbeda community and Omerelu people,” he said.

He noted that the essence of governance is service to the people, adding that responding to their needs is a core responsibility of any administration.

“We decided to do this because you know where we are coming from, and if we don’t tell our story, many won’t know what we are doing. Even in the face of tribulations, we have remained focused on delivering the dividends of democracy. We will continue to serve our people with respect and honour,” he affirmed.

Governor Fubara also reiterated his support for President Bola Ahmed Tinubu, pledging to back all groups working towards securing the President’s victory in 2027.

Giving technical details of the project, the Permanent Secretary of the Ministry of Works, Dr. Austin Ezekiel-Hart, explained that the contract was awarded on October 27, 2024, to Messrs Johnson Roadworks Limited.

He said the road links communities in Emohua and Ikwerre LGAs and shortens travel time for motorists commuting from Ahoada East, Ahoada West and Omoku through Egbeda to Owerri in Imo State.

He added that the infrastructure features a 12-metre clearing width and an 8-metre asphalt surface, comprising a 50mm binder course and a 40mm wearing course. It is complemented by 24 kilometres of drainage channels with a 1.05m² cross-sectional capacity to ensure durability and efficient water flow.

In his remarks, the Chairman of Emohua Local Government Area, Dr. Chidi Lloyd, described the road as a crucial link for surrounding communities, significantly easing movement for residents.

He praised the governor for demonstrating continuity and consolidation and prayed for God’s strength to enable him to achieve even more for the people.

Featured

Oil & Gas: Rivers Remains The Best Investment Destination – Fubara

Published

1 month ago

December 1, 2025

The Tide

Governor Siminalayi Fubara says Rivers State remains the best investment destination for investors in the oil and gas sector.

Governor Fubara stated that since the economic development of Rivers State is closely connected to the growth of the oil and gas industry, his administration has continued to collaborate with the Federal Government and host communities to protect natural assets in the sector.

The Governor stated this during the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation Oil and Gas Roundtable in Port Harcourt.

Represented by the Secretary to the State Government, Dr. Benibo Anabraba, he pointed out that since the economy of Nigeria relies substantially on the oil and gas sector, his administration will continue to collaborate with relevant stakeholders to ramp up production.

“The Nigerian oil and gas sector is the lifeblood of our nation’s economy, contributing over 90% of Federal Government’s foreign exchange earnings. Similarly, Rivers State, home to numerous national and multinational oil and gas companies, is the centre of Nigeria’s hydrocarbon industry, with the State’s oil and gas resources generating over 40% of the country’s revenue.

“?Considering this, the survival and economic development of Rivers State are closely connected to the growth of the oil and gas industry. That is why, since the beginning of this administration, we have focused on safeguarding the national oil and gas assets in collaboration with the Federal Government, security agencies, communities and other stakeholders, and we will maintain this commitment for as long as it is necessary.

“Furthermore, we have established and maintained a conducive, peaceful, and secure environment for companies to open and flourish in the State as part of a strategic plan to stimulate our economy, generate jobs, and enhance the well-being of our citizens.

“We therefore recognise and applaud the vital role that indigenous companies are currently playing in bridging gaps and advancing the development of Nigeria’s oil and gas industry,” he stressed.?

Governor Fubara affirmed that Nigerian-funded companies can only succeed and make meaningful contributions to the nation’s economic prosperity when challenges that limit the nation are effectively tackled, and expressed his administration’s stand to support indigenous organisations such as the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation.

Declaring the roundtable open, the Governor assured the Nigerian-Owned companies in the oil and gas sector, that “we are ready and willing to respond positively to any administrative, policy, or legislative recommendations within our jurisdiction as a subnational State.”

The Founder of the Nigeria and Entrepreneurship Summit and Honours (NESH) Foundation, Mr Emeka ugwu-Ozu, disclosed that the summit, held only in an oil and gas producing place, is a forum for all in the industry to brainstorm and suggest best practices for local players.

“This roundtable discussion takes place in only oil and gas producing states, and it is intentional. And that is to make sure that sooner, it becomes like what we say is the equivalent of Houston in the United States of America.

“I would say that from what I have seen so far, Rivers State is back and open, safe and good for business. The oil and gas players should come and see what we have seen,” he said.