2O24: Nigerians Lament High Food Prices, Cost of Medication, Hopeful for 2025

*As inflation bites, patients seek alternative treatment sources 

*Sokoto residents urge Tinubu to review economic policies Traders lament crash in value of naira 

*Want govt to tackle insecurity, deteriorating state of roads

Our correspondents

As 2024 fades into the sunset, it will be an understatement that has been a tough all-round year for Nigerians, especially on the back of economic reforms embarked upon by the President Bola Tinubu administration, which took over the reins of governance on May 29, 2023.

Although characterised as bold by both Nigerian and foreign policy analysts, these major economic changes have had a massive impact on Nigerians. Headline inflation has rocketed to 34.6 per cent and food inflation has reached a record 39.93 per cent in the November 2024 circle recently released by the National Bureau of Statistics (NBS).

From Nigeria’s far-flung Sokoto to oil-rich Rivers state, from Anambra in the east to Ondo in the south, the effects of these unprecedented economic changes have altered the way Nigerians live, and some would say, have deepened the level of poverty in the country.
The Tinubu administration has deregulated the downstream oil sector, basically subjecting it to the vicissitudes of free market forces. This had led to an increase in the all-important petrol from about N194 per litre by the time he took over last year, to an average of about N1,000 nationwide currently.

He has, as it were, floated the local currency, the Naira, leading to a depreciation from around N460 at government-controlled exchange rate in the first half of 2023 to circa N1,500 to N1,600/$ presently. A mostly import-dependent nation, this singular economic policy, has had harsh effects on the ordinary citizen, nay Nigerians of all classes.
However, Tinubu has said the pain is temporary. He has urged Nigerians to endure the policies which he avers his predecessors didn’t have the courage to implement. As Nigerians await a new dawn, there appears to be a consensus: That the current hardship must give way to a better 2025.

THISDAY aggregates views from some states in Nigeria and the Federal Capital Territory (FCT), asking respondents, who are ordinary Nigerians, how these policies have impacted them and their hopes for the coming year.

Rivers
A professional nurse, working with one of the private hospitals in Port Harcourt, Rivers State, Mrs Miriam Uchendu, decried how cost of drugs and other medical services have led patients to seek alternative treatment.
Uchendu who spoke with THISDAY yesterday, explained that the removal of subsidy and hike in electricity tariff have affected the cost of drugs badly.

“Drugs that we used to buy for maybe N1000 are now sold at over N5000. Drugs like ampiclox are on the high side. Augmentin that was sold at N2000 or N3000 is now N30,000, and these are the drugs that can help to treat typhoid, infection, etc,” she lamented.
Uchendu, who maintained that the rising prices of basic medication was affecting patients negatively, stressed that patients barely visit hospitals these days, especially the private clinics.
However, she is hopeful that there will be a turnaround in 2025 as “our dear President has promised us that next year’s things will be okay”.

Mrs Nkiru Ohazuruike, a food stuff seller said:  “Last year, we bought a crate of tomatoes between N4,000 and N7,000, but this year we are buying it between N23,000 to N35,000. This is very high, even onions; a sugar bag of onions that was sold last year at N25,000 is now sold at N300,000 as of this December.

Delta
A cross-section of respondents, who spoke with THISDAY in Warri yesterday, said they had resorted to rationing their meagre resources amid other coping mechanisms in the outgoing year.
A public servant, Mrs Blessings Oghale, said she had to lecture her children on managing available resources and avoiding wastage adding: “I have told them we can no longer buy anything unnecessary so that we can reduce cost and save more; this is in addition to reducing our consumption pattern.”

A trader at the popular Igbo market, Emeka Ugokwe said he had learnt to reduce the consumption of fuel by parking his car most times, using public transport to beat the cost of fueling.
Mrs Kome Oritseweyimi, a food vendor, expressed regret that she no longer made profits from her business due to incessant increases in prices of goods resulting from increase in transport fares adding “Each day I keep running at a loss, as I no longer realise the cost price of the inputs I use in preparing food to sell, let alone making profits”.

An entrepreneur, Mr. Israel Otunye said: “As we all know, the economic situation of Nigeria has become alarming and a thing of concern. To cope in this economy, some adjustments have to be made.
Also, a civil servant, Mr. Voke Uvwie, lamented that transport fare was terrible adding: “So basically, I prioritise my needs and those of my family. Once I receive my income, I focus more on making sure the income takes care of feeding and my transport fare to and fro work.”

Sokoto
The residents of Sokoto State have urged  Tinubu to review some of his economic policies in 2025 to ease the hardship orchestrated by the development.
A food dealer, Alhaji Bashir Shehu, explained that the ‘untimely’ removal of fuel subsidy had affected their business.
He noted that coupled with increases in transport fare, they have been forced to increase the price of their products, stressing that the rise in price also led to low patronage.
” You know in business you make money as a result of your turnover, a situation where you buy goods and it remains in the shops without a buyer does not augur well for business,” he lamented .
Another resident, Mohamed Abdullahi, lamented that his family hardly eats three times a day, saying his income cannot meet the needs of his family.
He appealed to the president to review his economic policies, but was optimistic that Tinubu  will heed the cry of Nigerians in 2025.

Anambra
In Anambra, two persons interviewed, including a trader in food stuff, Mrs Blessing Obasi and an electrician, Calistus Nwanze both decried the level of hardship in the country, attributing it to the inability of the Tinubu-led government to implement policies that will ameliorate the plight of the common people.
Obasi, a mother of two, whose husband is a middle level public servant said: “For me, the only help I have is that I sell food. It is from the shop that I feed my entire family. I wonder what people who do not have my privilege are going through this period.

“A pot of soup now for poor people like us costs nothing less than N10,000, just to manage it. Before now, for N1,000, you would cook the same pot of soup, but not now not any longer. People are suffering.”
On the other hand, Nwanze, a labourer who fixes electrical works in neighbourhoods around Awka, Anambra State said: “There is nothing anyone can tell me that Tinubu government is not the cause of this hardship.

“Look at how fuel prices jumped from the very first day he took over. Now look at the electricity tariff. When we started using the prepaid meter, N5,000 couldn take me through the entire month. But today, N10,000 token does not last more than one week, even though I ensure that my family puts off unwanted bulbs when we are at home. The situation is no longer funny.”
On their hopes for the next year, both Obasi and Nwanze seemed to be in agreement that  Tinubu is not capable of changing anything. They both said: “There is nothing we will see now that will be more than what we have seen already. We are just in God’s hands, but if you ask me, our only hope is until Tinubu leaves.”

FCT
A taxi operator in Abuja, identified as Torngu Msughter, said he mainly uses his unpainted cab for the Banex—Federal Secretariat—Apo Bridge route. Msughter described the year 2024 as a challenging year that made the business very unprofitable for him and other operators.
He noted that the removal of fuel subsidies led to higher fares for commuters by nearly 300 per cent as well as higher operational expenses for transport operators.
“It was a very difficult year because the PMS (Premium Motor Spirit) that we were buying for about N190 per litre went to about N500 per litre before peaking at N1080 per litre. The increase in the cost of fuel affected the owners and the commuters, who could barely afford taxi fares.

“For instance, I operate a four-cylinder Toyota Corolla that takes about 80-litre fuel. With the removal of the fuel subsidy, I spend over N80,000 to fill the fuel tank, which is quite beyond my means,” Msughter said.
He appealed to the government to introduce policies that will drive down the cost of fuel, noting that high cost of fuel is one of the reasons for inflation in the country.
Still in Abuja, a baker at New Karu, Nasarawa State, Mrs Esther Joseph, said the cost of baking materials soared and forced many bakers out of business in 2024.

She attributed the price increase to more than 100 per cent increase in wheat flour which is imported from Canada and Ukraine, in addition to the high exchange rate as many baking materials are imported.
She said a 50 kg bag of flour that was selling for N39,750 in February now sells for N69,000 in the market, while a bag of sugar of the same size that was sold in the market at N68,500 in February 2024 jumped to N93,000 by the end of the year.
According to Joseph, the high cost of baking ingredients including yeast, milk and butter led to the high cost of bread, which is a major staple for many Nigerian families.

“It is that bad because many customers no longer buy bread. The business also became less profitable because of the daily increase in the prices of baking materials, leading many of us to lose our business margins arising from a gradual reduction in production scale,” she said.
The traders said they adopted a strategy of contributing money and sending one or two of them to markets in order to share the cost of transportation among them.
For Abiodun Oviedje, a civil servant, the issue of high cost of living is due to insecurity which he said prevented a lot of farmers from going to the farms, for fear of being killed or kidnapped for ransom.

“My expectations from the government in 2025 is that the government should do more to put an end to the issue of insecurity, if there’s peace in all parts of the country, there will be enough food supply because farmers will be able to do their business which is farming and other things will fall in place. The economy will also improve”, Oviedje said.
Also speaking, a Public Relations expert, Felix Omo-asun, stated that besides the twin problems of high cost of living with attendant hunger, the cost of drugs impacted negatively on the citizens.

He urged the government to, in the coming year, “promote policies to reduce the cost of living by providing an enabling environment,” adding that power is still an issue despite the rise of tariffs. Also suspension of tariffs on medical equipment has not caused lower prices for drugs”.

Kano
The story was not different in Kano. A trader, Abdul Bello, in Sabon Gari market said: “Life has become very expensive and difficult since the removal of fuel subsidy. The price of these food items that we sell is gradually becoming out of the reach of a common man, despite the fact that they are locally produced.
“As you can see, the price for food items has quadrupled and because of that many people cannot even eat. Our business is not moving as usual and the profit is not much, as such the majority of petty traders cannot meet their domestic demands. Sometimes we have no other option than to eat from the business thereby, destabilising our investment.
“Based on the current economic situation in Nigeria, governments at all levels should as a matter of urgency address our challenges by providing support to stabilise our businesses, increase profits, and improve our overall well-being.

Abia
Abia State residents like other Nigerians think that 2024 has been a very difficult year with many hurdles to cross for survival. A cross section of people in Umuahia that spoke with THISDAY painted a picture of despondency and frustration with political leaders.
“I’m just existing. I can’t say I achieved anything this year in terms of buying personal properties,” says Joseph Onyedika, a commercial tricycle(keke) operator. He lamented that he could not even change his window curtains that “have been crying for retirement”.  
Onyedika, who says he is a father of two young children, dismissed any suggestion that the economic situation would improve in 2025. “I don’t see the signs; I can’t feel any positive change,” he lamented.

Besides, one Mrs. Gracious Madukwe, a foodstuff retailer, said that she fought on two fronts to survive. She explained that while she struggled to provide for her family of four, she equally struggled to remain in business as prices of foodstuffs kept skyrocketing.
 “It hasn’t been easy to maintain my business due to inflation that was out of control,” she said.
“Each time I go to buy rice, beans and garri from wholesalers, the prices would have increased from what it was previously, thereby forcing me to cut down on the quantity of goods I had planned to buy. However, Madukwe said that she has not given up hope on the Nigeria economy
“I’m hopeful that the government will find the needed answer to these hardships we’re facing,” she said, adding, “when there’s life there’s hope”.

Kaduna
Mohammed Abudu, a mechanic who specialises in the repairs of honda cars, said he was thrown out of business following an increase in the price of fuel.
“Many of my customers abandoned their cars for public transport. My wife’s shop was our only source of livelihood. We have never experienced this kind of situation before. We are appealing to the government to take this burden off us in the coming year. We want a better life in 2025 – affordable prices of goods and services,” he added.

Enugu
Residents of Enugu state, particularly business owners,  have called on the federal government to implement policies that will address the harsh economic realities that characterised 2024, especially with the fuel subsidy removal, hike in tariffs and inflation.
Ifunanya Onyekozuku, who deals in cosmetics inside Enugu’a main market said that fuel subsidy removal made transportation more expensive and that also increased the cost of goods.  

“This forced me to raise prices, and customers started buying less, she said. “The removal of fuel subsidies was meant to save the government money, but it caused transport costs and living expenses to increase sharply,” she added.
Chinasa Onu, a food vendor in Ugwuaji, a suburb in the state said that the hike in fuel prices also increased the cost of food items like rice, beans and onions, which have recently hit the roof. According to her, only four balls of onions now sell for N1000. A consequence of this, she said, is the increase in food prices, which has left customers constantly complaining.

A Tricycle rider who spoke to THISDAY, Nonso Ndukwe, also said that the prices of items used for repairs and maintenance have also gone up and that impacts income levels as increases in transport fare is not commensurate with the amount spent on maintenance and file purchase.
Those who spoke to THISDAY were hopeful that things will be better in 2025. They however said that a lot depends on what the government and other key players do.

Benue
Traders, and small business owners are expressing growing frustration and despair over hardship being experience.Some of them like Ejembi Micheal at the Modern market, Makurdi, said despite the fact that farmers are harvesting their crops,prices of food stuff are steadily rising.
“As you can observe,the bumper harvest we had has not significantly reduced the price of food items and this is due to the high cost of petroleum products,electricity tariffs and taxes,” he lamented
Others complained about skyrocketing prices of essential goods, stagnant wages, and dwindling employment opportunities. Many people, they said, are struggling to make ends meet, with some forced to skip meals or rely on assistance from relatives and friends.

Oyo
A commercial driver plying Oke Padre to Ojoo, Ganiyu Abegunde, said the outgoing year has been tough for him as the fuel subsidy removal has led to hike in transport fare, stating that most Nigerians find it difficult to pay and thus reducing what he makes daily.
He however expressed optimism that the current reduction in the price of petrol will be sustained in the coming year, lamenting that 2024 could be described as hellish for Nigerians.
Speaking in the same vein, Mrs. Bola Salami, a trader at the popular Bola Ige International market, Gbagi, Ibadan, said she has hope that the government at all levels would come to the aid of Nigerians by doing everything possible to reduce prices of foodstuffs.
According to her, 2024 is a year that Nigerians have found it difficult to put food on their table, noting that she and her household could not afford to eat three times in a day in the outgoing year.

Cross River

Unwana Edem , a lady who is into a wide range of businesses, including sale of food items and a restaurant business said the hike in fuel price affected her businesses to the extent that she almost gave up.
Edem whose shop is located in Calabar, Cross River State, while speaking to THISDAY said: ” Doing business now is tough. I think it is tougher here in Calabar because of fuel prices and bad roads. I am a food stuff seller, so I can tell you that these two issues made prices of foodstuffs unaffordable for many. Some of my colleagues have closed shops. I am coping because I also have another side hustle with schools. I just hope next year will be better.”
Another businesswoman, Tina Umoh , who trades in fish and crayfish between Calabar in Cross River State and Oron in Akwa Ibom State , said she can no longer engage in the business as a wholesaler because of the high cost of getting fish and crayfish from Oron.
” Last year around this time I was able to buy some bags of crayfish and plenty of fish because it was not too costly. But now, since this Tinubu regime , things have become very costly. I now collect from big traders who can buy wholesale, and people like me will collect and sell for them with small interest. Things are hard. I pray that 2025 will be better. There is nothing I can do but to keep praying,” she added.

Ekiti

A survey conducted by  THISDAY in Ado Ekiti revealed that not even the fact that the nation is currently witnessing a harvest season could halt the escalating food prices.
In a telephone chat with the State Commissioner for Agriculture, Mr Ebenezer Boluwade, he said the state government was assisting all categories of farmers in the state.
However, he was of the view that farmers are not unlikely to face a certain percentage of post-harvest losses, essentially due to factors beyond them.
Among others, he said the government had unrelentlessly tried to address all challenges faced by farmers, especially with the familiar problems of farm implements ,insecurity in the farms, high cost of transportation, as well as bad rural roads.
Also speaking on the persistent food price hike, Mr Adegbola Akanle, a farmer, attributed the skyrocketing cost of food items to high price of petrol and the resultant high transport cost as well as insecurity in the farms.

Ogun

In a chat with some traders in Ogun state, it was gathered that the sharp increase in prices of goods including food items, had greatly affected sales.
On the way forward in 2025, the traders said if the government is serious about the welfare of the masses, they should devise means of how available palliatives should get to the average Nigerians and also be ready to sacrifice some of their own benefits.
” As of today, the people running the affairs of government, particularly politicians, are still going about displaying affluence while the masses are suffering. The government should demonstrate commitment to what they are preaching”, they said.

Ondo

A plantain seller, Mrs Adewumi Bosede, said: “The present government policies affected me in numerous ways. The present government has failed to address the economic hardship and insecurity facing us. The fuel subsidy removal has made me poorer.
A rice seller, Mr Chukwu Jude, said: “As far as I am concerned, the increase in fuel prices, from less than N200 to over N1000 per litre, and the depreciation of the Naira from less than N740 to over N1,600 per dollar are typical examples of how government has brought untold hardship to me and many other Nigerians.”