News
COVID-19: Lagos markets record drop in prices of perishables food items
One week after the restriction of movement in a bid to curtail the spread of COVID-19, prices of perishable food appears to be plummeting, Our Correspondent reports.
This is according to a survey conducted by Our Correspondent in no fewer than ten markets including Mile 12, and Oyingbo, on Tuesday.
Our Correspondent reports that a 40 kilogramme (kg) basket of tomato, which sold for N12, 000 immediately the lockdown was announced had dropped to N8, 000.
Similarly, a 50kg basket of bell pepper (Tatashe) dropped from N10, 000 to N7, 000.
The survey also showed that a 50kg Chilli pepper (Shombo) has now been pegged at N8, 000 instead of its former price of N10, 000.
Also, the price of a jute bag of scotch bonnet pepper was equally affected as it dropped from N9, 000 to N7, 000.
Mr Femi Odusanya, Spokesperson, Mile 12 Market Traders Association, attributed the situation to fear of depreciation of life of the items, adding that supply was now greater than demand due to the lockdown.
“ Citizens are observing the movement restrictions as ordered by the government and this has also led to traffic in our markets,’’ he said.
Odusanya explained that the prices of most perishable items had soared immediately the lockdown was announced due to increase in demand.
He also said the time frame allotted for markets across Lagos might have been too short to stimulate greater demands for perishable food items, adding paucity of fund was also responsible for the downward slide of the demand graph.
Odunsanya, therefore, urged the government to intervene by providing farmers and dealers of such items with some palliatives to cushion the effect of the losses.
Malam Mauzu, a dealer of perishable food items in Oyingbo market confirmed the situation, saying that the high cost of transportation had increased the burden.
“I would usually leave home as early as 4am and pay triple to transport my produce to get to the market only to sell them at very ridiculous prices,’’ he said.
However, there seem to be exponential increases in prices of bags of sachet water, tomato paste and other food items like garri, yam flour and the likes.
Mrs Funmilayo Makinde, a water retailer, said a bag of pure water which sold for N80 had increased to N150 at the last chain.
She said retailers had before the shutdown bought the product at N80 and resold at N100.
She attributed the increase to scarcity and increase in cost of getting nylons for packaging.
Also, a carton of sachet tomato paste which sold for N2, 250 had soared to N3, 400.
“No enough supplies of these items due to the restrictions and many stores are hoarding what they have and increasing the prices,” she said.
Our Correspondent reports that the sharp drop in prices of perishable food items may not be unconnected with the neighbourhood markets constructed by the Lagos State Government to ameliorate the suffering of residents during the lockdown.
However, the reported increases of prices of some other manufactured food items could simply be linked to interplay between high demands and hoarding which allowed prices to be determined by negative market forces.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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