The cost of food has significantly increased in Kaduna since the start of the Ramadan fast.
Due to the naira redesign fiasco, which resulted in a shortage of new money, food and perishable commodities costs significantly decreased during the presidential and governorship elections.
The costs of groceries have, however, gone above expectations since the start of Ramadan and the Central Bank of Nigeria Governor’s order to all commercial banks in the nation to resume releasing old notes.
Due to the shortage of new notes, a merchant in Central Market Kaduna claims she was unable to sell up to N10,000 each week since no one had cash.
She claimed that since money was now in use, she had to raise the price to make up for the period she had lost.
Additionally, Alhaji Ibrahim Yusuf, a yam vendor, expressed optimism that the market for his product is gradually returning to normal because at least this period is slightly better than it was a few weeks ago.
“Nobody was coming to buy yam during the Naira shortage. I have no money, and I’m not willing to lend people my yam on credit. I tried to sell cheaply to the few customers who arrived with cash because I needed the money. But now that I can access my bank account and make withdrawals, I can sell my yam for exactly the price I quoted for.”
Mrs. Paulina Atabo, a vendor of millet, corn, and other items, claimed that there has been a minor price increase because no one, neither a businessperson nor a lady, has traveled to purchase goods from other states to resell because everyone is worried about what might occur following the election.
She claims that given that they are still gauging public sentiment on the election, what they are selling at the moment are the things that were stored prior to the polls.