Posted by The cost of food has skyrocketed in Kaduna since the Ramadan fast began.
Due to the naira redesign fiasco, which resulted in a shortage of new currency, food and perishable goods prices were significantly lower during the presidential and governorship elections.
However, since the start of Ramadan and following the governor of the Central Bank of Nigeria’s order to all commercial banks in the nation to begin issuing old notes, food prices have gone above and beyond expectations.
Because of the shortage of new notes, Mrs. Mary Andrew, a vendor in Kaduna’s Central Market, told FROSHNAIJA that she was unable to make sales of up to N10,000 per week because no one had cash.
As soon as money started moving around, she claimed, she had to raise the price to make up for the time 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 crisis. I don’t have any money, and I’m not ready to lend people my yam.
“As a result, I tried to sell at a discount to the few people who arrived with cash because I needed the money. However, now that I can withdraw money from my bank account and have access to it, I can sell my yam for exactly the price I set when I gave my buyer quotes.
He stated.
There has been a slight price increase, according to Mrs. Paulina Atabo, a vendor of millet, corn, and other ingredients, because no one—businessmen or women—has traveled to purchase goods from other states to resell because everyone is worried about what might happen after the election.
She claims that given that they are still gauging public sentiment regarding the election, what they are selling at the moment are the items that were stored prior to the vote.