Consumers Face More Hardship as Panic Buying Push Up Demand, Prices Ahead of Protests

Raheem Akingbolu in Lagos, Ahmad Sorondinki in Kano, Arinze Gedeon in Enugu, John Shiklam in Kaduna, Gbenga Sodeinde in Ado Ekiti and Blessing Ibunge in Port Harcourt

Ahead of the nationwide protests against lingering food inflation and pervasive hunger planned to commence today, panic buying and petrol scarcity pushed up the prices of consumables, further visiting difficulty on an already exhausted citizenry across the country.

A THISDAY survey in some major cities and markets, showed there was pressure on stores, markets and petrol stations, as households moved in large numbers to stock their homes ahead of the proposed protests.

Various reports showed that lingering petrol scarcity in the country compounded the problem, with many Nigerians resorting to black market to get petrol.

Ms. Funmilayo Ogbe, an administrative staff at the Lagos State University Teaching Hospital, who spoke to THISDAY at the Abibat Mogaji Retail Market, Ogba, Lagos, complained about the price increase and urged market men and women not to take advantage of the current situation to rip-off consumers.

She said, “Before now, we were all aware that prices of food items had gone up, unexpectedly, after subsidy removal. But in the last 24 hours, the situation has taken a new twist because of the massive demand in the market.

“I came in today and discovered that the prices of what I bought a few days ago have gone up by at least between five and 10 per cent. To me, this is not driven by any government policy but by market men and women who see the current influx of consumers in the market as an opportunity to make extra money.

“While I’m appealing to government to find lasting solution to the current situation, I want to also appeal to our market men and women to be considerate and consider the challenges facing consumers,”

The petrol shortage forced many Nigerians to resort to panic buying, leading to long queues in many parts of Lagos, Enugu, Kano, and Kaduna states, as well as Abuja. Touts made brisk business from selling petrol in kegs above the official prices to desperate buyers.

The scarcity, which worsened in the last five days, saw petrol prices skyrocket, with harder pressure on finances and consumption.

Many vehicles spent hours in fuel queues, while public transportation services became increasingly unreliable due to fuel shortage.

In Kano, barely 24 hours ahead of the hunger protest, residents trooped to commodity markets to stock up food items, following the resolution by the market leaders to lock their shops on August 1. The resolution prompted the rush to stock up on essential items, despite financial challenges.

There were mixed reactions among residents of Enugu State, as prices of staple food items continued to increase in the state. A paint bucket of rice sold for between N7,000 and N7,500, while garri sold for between N3,200 and N3,500.

A sizable tuber of yam went for as much as N4,500. As of today, the price of a litre of fuel stood at N850 while that of cooking gas was N1,250 per kilogramme.

Some residents who spoke to THISDAY said the planned protest remained the best way to express disaffection and press home the demands for improved standard of living. Others believed that while protest was within the rights of the citizens, it might snowball into violence that could claim lives and lead to the destruction of public and private property.

Those interviewed agreed that the government must urgently look into the reasons the protest was planned, including high cost of living, widespread unemployment and worsening insecurity.

Groups, like the Enugu State Chapter of the National Association of Nigerian Students (NANS), National Youth Council of Nigeria (NYCN), and Youth Wing of Ohanaeze Ndigbo, the apex Igbo socio-cultural organisation, had cautioned residents in Enugu and the South-east against taking part in the protest.

Meanwhile, there was a heavy presence of Nigerian Army soldiers across the Enugu metropolis yesterday.

Public affairs analyst, Ambrose Igboke, said that it was wrong to use the military for civilian engagement, adding that the role of handling protests is that of the Nigeria Police.

In Kaduna, there was also mixed feelings because while many residents described the impending protest as a welcome development, some expressed fear that some criminal elements might hijack it and loot shops.

Proponents of the protest said it was long overdue considering the harsh economic situation and insecurity occasioned by killings, kidnappings and the inability of the government to tackle the problems.

However, those opposed to the protest maintained that it might plunge the state into crisis and further worsen the situation.

They expressed concern that some criminal elements might hide under the protest to break in and loot shops.

Some traders at the Railway Station Market, Kaduna, said they might have no option than to take their goods home for fear of miscreants.

At a town hall meeting on Monday, the Kaduna State governor, Senator Uba Sani, appealed to residents to shun the protest.

However, organisers of the protest have yet to give any information about where and when the protest would commence.

Spokesperson of the state police command, Mansir Hassan, said in a statement, that the command had been closely monitoring developments.

As individuals and groups in Rivers State anticipated the protests today, residents called on the federal and state governments to pay more attention to the cost of petroleum products. They lamented that people were dying daily as a result of hardship orchestrated by the fuel price hike.

THISDAY visit to the market places, petrol, gas stations, as well as interviews with traders and commuters revealed that it was a difficult time for many people.

As at the time of filing this report, a litre of petrol was sold between N850 and N900 by major petroleum marketers and other filling stations. While the Nigerian National Petroleum Company (NNPC) sold a litre of petrol at N591 with over 2,000 vehicles on queue, black marketers sold between N1,000 and N1,200 per litre in Port Harcourt and neighbouring towns.

Based on the rise in the cost of fuel, prices of commodities in the market also went up.

A resident of Rivers State and trader at the Creek Road market, Port Harcourt, John Jombo, who spoke with THISDAY during a market survey, yesterday, lamented that the cost of food items in the market was increasing hourly.

Jombo said, “We are not happy with the way things are going on in the country. Here I sell grains, initially we bought beans at N60, 000 but now they are sold at over N200,000. Rice was formerly sold at N40, 000 but now is sold at N85, 000. Because of the increments the market is also very slow.”

On his part, Me Uche Michael, said, “The cost price of a bag of Ogbono is N260, 000 but as at last year it was sold at N150, 000. A bag of eguisi was sold at N150,000, presently it is sold at N250,000. Dried pepper is now N250,000, from the initial price of N100,000.”

To Cynthia Anukwu, a young lady who sold foodstuff, ”Things are very expensive. For instance, four pieces of ginger was sold at N100 but now is sold at N1,000.

“Initially a measure of tomatoes was N1,000 but now is sold at N5,000. So, I don’t know if we are going backwards in Nigeria.”

In Ekiti State, the governor, Mr. Biodun Oyebanji, vowed to ensure protection of lives and property of citizens in the wake of the planned nationwide protests.

Addressing the people of Ekiti State in a state-wide broadcast yesterday, the governor expressed concern that the planned protest had the potential to degenerate into violence and reverse his administration’s steady progress to shared prosperity.

Oyebanji, in the address which was monitored by THISDAY, clarified that while his administration was not averse to free expression of opinion and displeasure over socioeconomic issues, it strongly believed that it should be after due consideration of the overall security implication of such a protest.

Acknowledging the constitutional rights to freedom of expression and the right to air views freely, Oyebanji said, “Protest should be conducted under a peaceful atmosphere without recourse to any violent disturbances to other citizen who also enjoy inalienable right to unhindered movement and life.”

The governor pointed out that he had the primary duty to ensure the security and wellbeing of the people at all times as the chief security officer of the state. He said security agencies will be on high alert and will not allow anybody to destroy Ekiti’s good image as a peaceful and progressive state.

Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) attributed the fuel supply and distribution challenges to issues in the discharge operations of several vessels.

According to a release by the state-owned oil company, the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is a result of a hitch in the discharge operations of a couple of vessels.