People in Lagos bemoan shrinking budgets as cheaper groceries fail to boost buying ability

Lagos State residents have expressed frustration over the limited financial means of the general population, despite a decrease in the cost of certain food items in the state.

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This sentiment was shared by residents who spoke with the News Agency of Nigeria in separate interviews on Sunday in Lagos, highlighting the challenges posed by low purchasing power.

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According to Dr Dorka Ike, a medical practitioner and resident of the Surulere area, some food prices have remained stable, yet many residents struggle to afford basic necessities.

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Ike noted that while certain food items, such as garri, have seen a price reduction, with a paint bucket now costing between N1,200 to N1,500, down from N2,000 or N3,000, the primary issue remains the low purchasing power of many Nigerians.

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The low purchasing power has led some individuals to reduce their food expenses, as the cost of transportation also takes a significant toll on their finances, Ike explained.

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Mrs Eugenia Uloma, a resident of the Dopemu area, observed that certain food items, including beef, chicken, fish, tomatoes, and pepper, are relatively expensive, while others, such as rice, beans, corn, and garri, are more affordable.

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Uloma stated that the price of eggs has consistently been high, with a crate currently costing at least N6,000, and that the prices of staples like rice and beans have remained stable, with a bag of rice priced between N50,000 and N55,000.

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However, Uloma emphasized that the main challenge lies in the lack of readily available resources to purchase these items, as the cost of living continues to rise without a corresponding increase in salaries.

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Mrs Cordelia Esho, a resident of the Gbagada area, expressed concern over the rising cost of tomatoes and pepper, citing a significant price increase for garri earlier in the year, which has since dropped to N1,500 for a paint bucket.

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Esho mentioned that she recently purchased a small quantity of tomatoes for N2,500, a significant increase from the N500 she paid for a similar quantity just a few weeks prior.

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Mrs Lilian Agunbiade, a resident of the Aboru area, also lamented the low purchasing power of the population, noting that while some food item prices have decreased, they remain unaffordable for many.

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Agunbiade stated that the price drop is relative to previous months, and not comparable to the more affordable prices seen in past years, leaving some individuals struggling to afford even two meals a day.