Foodstuff prices on the high as USD breaks almost 600/$.
Since when USD (dollar) has been increasing everyday, everything in Nigeria have begin to move in the same direction with it (costly). Foodstuffs, particular in Nigeria has become a term we should express as SCARCITY which has been mostly a problem to individuals who are not born with silver spoon. In my little understanding, I have drafted out some stuffs which I think might also be among.
Let’s look at some of the popular foodstuffs which is consumable and their prices before the current rate of USD compare to its breaks now.
1. Bread: Generally, bakeries do have different prices of their production which ranges from #50 – #1000. But currently, according to some information gathered by our source the price is now fixed instead i.e #150, #200, #500 e.t.c To add to that what may actually cause this might be the cost of materials and ingredients in production it which is also on the rice now.
2. Beans: This by some wholesaler is stocked by bags and the price is as at this time of this article #…… which is also caused by the slaps on Naira by Mr USD lol. Beans is also useful in producing all other resources that is good for the wellbeing of the body. But what happens when you on a normal occasion do buy 1 bag of beams for example at #12000 and suddenly you are going for it at a price increased by 40%.
3. Rice: The most consumable foodstuffs plus the most preferred food is RICE according to our source by Nigerians before the urgent rise in price of USD and take 50% of an individual income per month. But due to the increase in the price of a bag of rice by almost 45%, citizens who was said to prefer rice to other starch have their food on schedule with the one that won’t consume almost 60% their income.
4. Groundnut Oil: This can be used to produce all other food resources like Bean Cake, Snacks and so on. So because USD has leveled up and breaks the price of Naira into pieces groundnut oil has now become gold (scarce) which must not be used anyhow like that of before with 75% on the move.
5. Cassava: Normally, this was not supposed to be on this list but according to what our source gathered I had to include this to let you know. The popular major reason for this is because of it transportation fee from various farm which is far from the place of marketing this to every state. What can I say, everyone we had to include like 5 or 10 percent as profit from every move of the goods which is why this has become more and more costly.
There are thousands of things this is affecting also but in conclusion, the price of dollar is becoming unbearable. It has been on a mission in attacking/affecting the economy at large. And even 70% rich citizens if not mistaken is also part of those attacked by the by USD.