Legit.ng weekly price check: Traders score Buhari below average in second year of second term

Legit.ng weekly price check: Traders score Buhari below average in second year of second term

- The second year of President Muhammadu Buhari second term in office has been characterized with critical issues surrounding the nations unity, growth and development

- Issues like coronavirus pandemic, insecurity and grappling economy has resulted to fluctuating price of goods in the country, high cost of living, high rate of poverty and unemployment

- This week, Legit.ng inquired from traders the cost price of goods so far with a focus on the first and second term of the present administration

The market is always busy yet sellers decry poor sales in recent times. Photo credit: Esther Odili
The market is always busy yet sellers decry poor sales in recent times. Photo credit: Esther Odili
Source: Original

One of the major issues the Buhari-Osinbajo led administration is tackling this year is insecurity. The fight against insurgency, banditry, kidnapping, abduction and armed robbery, bothers on the existence and survival of businesses in the country.

Insecurity in the country continues to affect business activities in markets across the state as the availability and supply of goods have become major concerns of traders in recent times.

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The Eid-el-Fitr celebrations is over and activities in the market have resumed properly but the focus this week is the second year of the second term into office of president Muhammadu Buhari.

Some traders at the market described the term as below average again due to economic downturn characterized by the negative impact of the coronavirus pandemic that affected the nation’s economy and the global economy.

The fight against the coronavirus pandemic and worsening security characterized the second term greatly as it has resulted to loss of lives, livelihood, properties of some citizens, fall in resources, rise in cost of living and exorbitant prices of goods in markets across the country.

Come May 29th 2021, marked two years that president Muhammadu Buhari commenced his second tenure in office, his next level agenda to be precise. Nigerians expressed their views on the assessment of the presidents’ performance so far.

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Meanwhile, the first year of the second term agenda, there was reduction on imports of agricultural products in order to enable self-sufficiency in food production and consumption. Also, fuel scarcity became a thing of the past without doubt stabilized transport fare which in turn stabilizes the ease in transportation of goods and services in markets across the country.

More importantly, the administration brought about an improved standards of Nigeria’s agricultural exports to align with global standards. The president also introduced programmes geared towards promoting community-based farm business activities for job and wealth creation in rural areas and as well-made available funds to rural farmers who cultivate major crops during the rainy and dry season.

Additionally, the production and consumption of local produce like local rice, in the country was greatly promoted by the Buhari-Osinbajo led administration. This was achieved through border closure and Nigerians accepted this development till this present day.

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From the above attributes, the president is indeed committed to the unity, growth and development of various sectors in the country yet there was a reverse to the above as the coronavirus pandemic with security issues threatened the president’s good course for the nation.

In recent times, the cost price of goods in the market is doubled compared to the previous year. The supply and availability of goods is low now due to rising security issues in some regions within the country.

The state of the economy so far has led to increased poverty, rising food prices daily, poor infrastructure, high unemployment rate, increment in pump price of fuel price and high cost of transportation; these and more characterized the second year.

At the market this week, some traders in a chat with Legit.ng, expressed their views on the second year of the Muhammadu Buhari second term in office. While some applauded the efforts of the president so far, others rate the president very low, though disappointed but they urged him to do better;

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Now you can barely tell the difference between the local rice and the foreign rice. Photo credit: Esther Odili
Now you can barely tell the difference between the local rice and the foreign rice. Photo credit: Esther Odili
Source: Original

A trader who sells rice at the market scored the president a three over ten. According to him, the cost price of goods like rice and garri was sold at a reasonable rate from the first year till date as both fluctuate sometimes but that of beans increased drastically.

He said: “The first year, a lot of changes were seen in the aspect of food production and the economy was a bit stable as food prices were offered for sale at reasonable prices and the cost of living was fair. But the second year, the coronavirus brought about a change in the way things are done in Nigeria and beyond.

“The pandemic affected our economy to a large extent and it took a long while for the government to get things going again in the country and get back on track. In fact, some governors were more proactive then but the president gave his best and we commend his effort so far, but more is expected of him.

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“With the security issues in the country, resulting to rising cost price of some goods like beans and perishables’, we have moved from good to bad to worse in the country. So much is not in place and one can only hope for a miracle because the country is in a big mess now. There is nothing as worse as one being afraid to live, this is where we are presently, as the environment is tensed. All the president need do is to change strategy and things would fall in place again.”

The second year introduced the increment in the cost price of all goods in the market. Photo credit: Esther Odili
The second year introduced the increment in the cost price of all goods in the market. Photo credit: Esther Odili
Source: Original

For a perishable dealer at the market, the rating is on a lower level because everything in the country seems not to be working. In her opinion, the president is trying hard before to see to the good of the land but there are some who are frustrating his efforts.

“There is nothing different so far; the next level agenda is not working; we are just going round the clock. Things are getting worse daily. It was bad before, but with the current situation we are faced with, it is not business as usual, nothing changed for the better.

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“For the cost price of perishables, it rises and falls following seasonal factors and the impact of the coronavirus pandemic on the economy that has led to rising food prices in the country.

“Now, the cost price of tomato is very high and supply low but the demand is what scares us daily, the demand for the items keep dropping daily. The buyers lament over lack of money to purchase goods and the buyers who have enough cash purchase the items in few quantities.

“There is no way we can say things are working fine in the country in the last two years in the second term of the Buhari administration. Market activities would better explain how the country has been faring so far,” A perishable dealer at the market told our correspondent.

Only few buyers at the market meet traders expectation in recent times. Photo credit: Esther Odili
Only few buyers at the market meet traders expectation in recent times. Photo credit: Esther Odili
Source: Original

A buyer at the market who pleaded anonymity, informed that despite the current happenings in the country, the president is a working president.

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He opined thus: “The president is working although the times are hard due to the negative impact of COVID-19 pandemic and insecurity. Insecurity is one major challenge threatening the affairs of the present administration. The first year, there was improvement in the agricultural sector, transportation sector to mention but a few but the pandemic brought everything to a standstill.

“The second year, the president began the fight against the pandemic; his efforts were obvious through daily broadcast and stringent measures put in place to safeguard the people from the deadly virus. Then in no time, insurgency rises when the administration thought they have won the battle against insurgency. With kidnapping, abduction and killing of some citizens in the country, it now seemed like the administration did not do well, which is not true.”

During his first year, foodstuff items were very affordable due to the border closure but the second year, foodstuff items rise daily. Photo credit: Esther Odili
During his first year, foodstuff items were very affordable due to the border closure but the second year, foodstuff items rise daily. Photo credit: Esther Odili
Source: Original

In the previous year, the price of foodstuff items like ogbono, egusi, crayfish and dry pepper was relatively low but this second year, the cost of purchase of the items continues to soar.

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Another trader in the market who sells foodstuff items gave a detailed explanation of the price variations between the first and second year of the Buhari second term in office.

“The first year, the president closed the land border and this brought about the acceptance of our own produce and there was a boost in the agricultural sector. The result was the drop in the cost price of the goods we sell; because they no longer export them and we had enough to go round; supply and demand was at a balanced level. Then, you can get egusi then from N35,000 and ogbono from N65,000 and N70,000 upwards as crayfish is sold from N14,000 and dry pepper from N28,000. We sell more and record good profit after daily sales.

“The second year, the coronavirus hit us hard in the country and the world at large and this is one major challenge the president and governors had to deal with and are still dealing with. And as soon as we are settling back into the new normal, the security issues escalated. Notwithstanding, the president was working, same with the governors amidst all the brouhaha.

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“Presently, the cost price of foodstuff items is high and not only foodstuff items, all goods in the market are expensive. Ogbono is very expensive same with crayfish while egusi is sold at reasonable prices. A bag of ogbono is sold from N140,000 upwards and egusi from N40,000 upwards while crayfish is sold from N18,000 upwards and dry pepper from N30,000 and N33,000 upwards.

“It is really not easy as some countries are yet to recover from the negative impact of the coronavirus pandemic. And in Nigeria, some businesses are trying to survive the harsh economy as others are struggling to run smoothly till date.

“I would commend the president but his second-year performance, is very poor. The president needs to change his mode of operation, then he will get things done in no time. The president is working but there are some selfish persons who are against restructuring. Remember, the president met a collapsed system and he has been trying to revive the economy but truthfully, with the recent trends of happenings, we are far from the next level agenda,” The foodstuff dealer informed.

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At the market, fresh crayfish is very expensive while dry pepper and Cameroon pepper is still sold at reasonable rates. Photo credit: Esther Odili
At the market, fresh crayfish is very expensive while dry pepper and Cameroon pepper is still sold at reasonable rates. Photo credit: Esther Odili
Source: Original

Still at the market, goods like yams, fruits and non-edible products are still very expensive. A seller at the market revealed the struggling economy, the poor education system, poor health system, insecurity and more defined the second year into the second term of the Buhari administration.

She stated thus: “Nothing is working in the country now. The first-year performance is better off than the second year. Life is harder now compared to before. Survival is very difficult. Everyone is scared of the next day as today is not promising enough.

“Fruits have become very expensive and most are scarce. The new deal is that the ones that are available are not really enough for us as traders to purchase as farmers are scared of planting or going to the farm now. The ones that are in season are even more expensive than the ones out of season.

“The cost of maintaining the farm is very high now as cost of fertilizer is higher, so the crops and land maintenance; all this add up and reflect in the cost of purchase of the items in the market. With a thousand naira, you can’t prepare a healthy meal now due to the high cost of goods. Although the president is doing what he knows how to do but it is not working so far.

“Things have turned upside down, I would rate the president a four over ten, we expect more from this administration than what they are offering and promised us. With the security issues we are facing now and the coronavirus pandemic, we have a long way to go in getting it right in this country.”

Fruits that are in season are offered for sale at an increased price. Photo credit: Esther Odili
Fruits that are in season are offered for sale at an increased price. Photo credit: Esther Odili
Source: Original

With the present situation the country is faced with, the prices of some goods have soared while others continue to fluctuate in major markets across the state as traders groan over poor patronage and drop in demand of most goods.

For some time now, the presence of few buyers in the market across the state becomes the order of the day as traders decry poor market condition and low supply of some major goods.

The survey above showed optimism and hopelessness as expressed by the people even as they await the messiah to turn the tide in their favour before the end of his tenure, come 2023.

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