Estimated reading time: 6 minute(s)
Solabomi Shoaga, Misturah Olatunji
Some traders in Abeokuta, the Ogun State Capital have lamented the hike in price of commodities due to the rise in fuel price in recent time.
Speaking with PLATFORM TIMES on Thursday, some of the traders at the Panseke and Omida Markets lamented that the increment of price of goods wasn’t intentional,but due to the high rate of transportation of goods from one part of the country to another.
While speaking with our correspondent, Valentine Uzo stated that he has not been making profits lamenting that consumers won’t buy at the rate at which he wanted to sell.
He added,”If I use N100, 000 as my capital few years ago, and if i still fix my capital to that amount, then i won’t have any profit because of the rate at which things are now expensive in the country
“If I sell a commodity at #10 and the cost of transportation down here has taken the whole of the profit, i would have no other choice than to add more money to the price at which I’ll sell the goods,
“There’s no way, you’ll buy something and the driver will charge you higher and you still come back to sell it at the rate of #10 that you originally planned on selling it..It doesn’t work that way, unless you want to pack out and go home
“So, the higher the fuel price is increasing, it will affect every other thing, even the water that we drink, transporting it from place to place will have to increase the price of the good…You know how much pure water is sold now, and before, in 2018, we do buy pure water at N80 but now it is N250.”
A trader identified as Awar Umar also lamented the high cost of petroleum that has an effect on the price of commodities at the market before selling it out to consumers
He said, “Now, petrol is expensive, transportation fare is too expensive, petrol that drivers used to buy N165 or N170 is now very expensive,we now buy it N180, even gas is too expensive, it’s now being sold at N800, it is really expensive
“Now i am now managing because the price is high and I have to sell my goods”
