Most Nigerians will be wearing sad expressions when they celebrate Christmas 2023.
Because of the current economic situation, most people have had to keep their Christmas celebrations low-key.
Transportation fares have skyrocketed, making it impossible for many Nigerians to visit family and friends for the holidays, according to MISMOB. This is on top of the already skyrocketing prices of necessities, which have persisted since the gasoline subsidy was eliminated in May 2023.
The holiday spirit has been dampened for many families due to the resurgence of the national financial crisis.
Cost of groceries
Since the gasoline subsidy was eliminated in May of this year, the cost of food and other household products has continued to climb dramatically.
After the holiday season and New Year’s celebrations were over in December, the surge hit rock bottom.
Food prices, including rice, chicken, goat, and other goods, have tripled, according to a survey conducted over the weekend by MISMOB.
Depending on the brand, a bag of local rice might now cost as much as N61,000 in some sections of the Federal Capital Territory, FCT, Abuja, up from its previous price of N44,000.
The price of vegetable oil has increased from N30,000 to above 45,000 Naira for a 25-liter jerry can.
Christians in Nigeria used to buy goats and fowl to make the celebration more exciting until the economy crashed. Buying cows is out of reach for most people.
The skyrocketing prices of goods in 2023 have kept the holiday season apart from years past.
According to Mr. Danjuma Danladi, a goat vendor in Abuja, a single goat can cost N70,000 or more, depending on its size.
He said that the price of transportation was a contributing element to the increase in goat prices.
You won’t find goats for as little as N25,000 anymore, but we did it last year.
On the market, goats fetch a good penny. Even while you can get it in neighboring states for a bit less money, the price will skyrocket once you get it to Abuja. Plus, making a profit is the ultimate goal of every trader.
Getting these goats to Abuja can sometimes cost more than what we paid for them. The gasoline problem is the root of the problem.
For me, this is the worst year since I started my business in 2015. “When people come and hear the price, a lot of them go back and get chicken instead,” he said.
Cost of public transit rises
Several passengers were left stranded in various parks due to the outrageous costs imposed by transportation companies, even though President Bola Tinubu had authorized a 50% discount for interstate road travel, commencing from December 21, 2023, to January 4, 2024.
According to the federal government, at least five transportation companies—GIG, Chisco Transport, Young Shall Grow, God Bless Ezenwata, and Area Motor—had price reduction deals negotiated with them.
Many drivers who swarmed the GIG and Young Shall Grow motors in Abuja were left stranded since there weren’t enough buses to take them where they needed to go, according to DAILY POST.
An anonymous GIG employee informed MISMOB in Utako, Abuja that the business began implementing the president’s promise on Friday when asked if it has been implemented yet.
An N50,000 excursion, in his estimation, is now only N25,000. According to him, though, customers are typically required to pay the entire fee up front and then receive a 50% return.
When a customer makes a payment, he or she is asked to provide their account number. After 24 hours, half of the amount will be refunded.
Our reporter spoke with one of the passengers, who went by the name “Chiamaka,” who was stuck at the GIG park and explained that she had trouble getting a ticket.
How they are managing this is beyond me. Many of us had already attempted to book before we arrived, but it was unsuccessful. When we return to this location, they inform us that the tickets for our journey to Imo are no longer available.
I will simply have the stuff sent to my people. All they’re costing me is N7,000 for the bag of rice and the oil. “I am compelled to pay,” she stated.
The cost of a bus ticket from Abuja to Enugu State varies from company to company and even from air-conditioned to non-air-conditioned, with most firms charging 25,000 and more, according to the MISMOB.
Mr. Adole Mathias, a motorist making his way to Benue State, bemoaned the increase in transportation fares and claimed that the businesses were charging passengers excessive amounts for no apparent reason.
For a long time, transportation fares would spike during the holidays due to gasoline shortages; but, recently, fuel prices have remained rather consistent. Why, therefore, am I being charged twice as much as when I went to Benue last month?
The government is usually not an issue for us. Each of us is the root of our own problems. This increase is completely unwarranted. All they want to do is drain our bank accounts.
His current situation means that N20,000 might not be enough to travel to his village in Benue, which is not far from Abuja, he bemoaned.
The airplane tickets were considerably more expensive when MISMOB inquired further.
It was noted that a one-way flight from Abuja or Lagos to anywhere in the East was estimated to cost more than N200,000.
The FCCPC is keeping an eye on the companies to make sure they don’t charge exorbitant prices, according to Babatunde Irukera, the executive vice chairman of the commission, who spoke with MISMOB on the subject.
Nevertheless, he expressed his disappointment that the commission could not force prices on any enterprise, citing the country’s free market system.
As far back as he can remember, this has happened every time transportation costs more, he added.
Our policy is to keep a close eye on it. Price control is not in place in Nigeria. This did not occur outside of the military dictatorship.
“The government no longer imposes prices because the country adopted a free market and switched to democracy.”
Mismob Media