Jay Boss
Nigerians Struggling with Soaring Food Prices and Transportation Costs
Abuja, Nigeria – Residents of the Federal Capital Territory (FCT) are grappling with the harsh realities of rising living costs, particularly due to increasing food prices and transportation fares.
Many residents have expressed frustration over the significant price hikes, which have eroded their purchasing power. A mother of three, Mrs. Maryam Abusaid, lamented the dramatic increase in the price of rice, making it difficult to feed her family.
Civil servants like Mrs. Ekaite Obot and Mrs. Mary Umeh have also been affected by the economic challenges. Rising fuel prices have forced many to cut back on transportation expenses, impacting their ability to commute to work and attend social events.
Small business owners, such as Mr. Albert Nwakama and Ms. Christabel Nicholas, are facing similar difficulties. Declining sales and increased operational costs have put a strain on their businesses.
The National Bureau of Statistics (NBS) has confirmed the upward trend in inflation, with food inflation reaching 40.53% year-on-year in April 2024. The July CPI report further highlighted the impact of rising prices on various goods and services.
Residents are appealing to the Federal Government to take immediate action to address these issues and alleviate the financial burden on Nigerians.
Comments
Loading…