₦airaland Forum

The hive activities that usually define Nigerian markets are gradually dying down. It is now being replaced by somber silence, as hundreds of traders have begun locking their shops.

Economy&Lifestyle discovered that this is due to their inability to bridge the widening gap between skyrocketing transportation costs and plummeting sales and customer patronage.

A recent Stanbic IBTC Bank Purchasing Managers Index, PMI, report showed that consumer purchasing power has been crippled; families who previously budgeted N10,000 for groceries now find the same items cost upwards of N13,000, forcing them to buy in smaller quantities or skip non-essential items entirely.

“I now close my shop three times a week to save myself from wasting transport fare and going back home with nothing”, Nwafor said.

Mr. Luke Edemodeh, a photographer, said he now works from home as customers patronage of his business has declined.

“The situation of high transportation costs is very serious.

“I now work from home and put my shop under lock.

“Imagine spending a huge sum of money to rent a shop and boom you start experiencing low patronage coupled with high transport cost.

“Sometimes, I trek long distances to cut down on transport costs when going to my shop because I don’t know what sales would look like.

“So I decided to work from home to save cost and avoid wasteful spending.

“Small businesses are the ones mostly affected with this increased fuel price and it is telling on us.”

In some regions, the cost of a single market trip now exceeds the day’s potential profit, with commuters paying an average of N1,195.75 per drop in urban centers ,a nearly 27 per cent increase compared to early 2025, according to the National Bureau of Statistics, NBS latest Transport Fare Watch report .

The report also pointed out that the average fare paid by commuters for bus journey intercity per drop was N9,564.12 in March 2026, indicating an increase of 17.95 per cent on a month-on-month basis compared to N8,108.81 in February 2026.

DonBigE:
Nigeria my country!!!! Only OBI can save us at this point! Vote NDC, vote for better Nigeria!

DonBigE:
Nigeria my country!!!! Only OBI can save us at this point! Vote NDC, vote for better Nigeria!

DonBigE:
Nigeria my country!!!! Only OBI can save us at this point! Vote NDC, vote for better Nigeria!

Rilwayne001:
Transport cost is crazily high because of the cost of fuel.

No thanks to Trump war in Iran.

The whole thing is starting to affect price of goods again and inflation is going up.

Thunder fire that egotistical orange clown.

Nigeria government needs to do something to alleviate this pressure on vulnerable people in the society.

Deltafirstson:
Although the pump price of fuel was N197 when President Bola Tinubu took over on May 29, 2023, the product now sells for N617 per litre – less than two months after.

In his inaugural address, Tinubu announced that subsidy was gone, fulfilling a promise that all leading presidential candidates made during the campaign.

Nigerians have been lamenting the hardship occasioned by fuel price hike. Amid the lamentation, a video where Tinubu campaigned to slash the price of fuel went into circulation.

Checks by Daily Trust affirmed the authenticity of the video uploaded on the YouTube page of Channels Television.

At his campaign rally in Abeokuta, Ogun State capital, on January 25, 2023, Tinubu spoke on a number of issues, but those of fuel scarcity and naira redesign made the headlines.

However, Tinubu who spoke in Yoruba language, also assured the crowd that though people were saying petrol price would hit N200, it would be reviewed downward under him.

“The great Nigerian youths, the great Nigerian students, the confident Nigerian youths. This is a revolution. This election is a revolution. They are plotting, but they will fail. They said fuel price will increase and reach N200 per litre. Go and relax, we will bring it down,” he had said in the 7th minute of the video.


https://dailytrust.com/breaking-video-of-tinubu-campaigning-to-crash-fuel-price-goes-viral-amid-hike/



https://www.youtube.com/watch?v=4JH8CC_JdUA

Rilwayne001:
Tell me logically, how Obi will make it better given the current situation in the middle east?

geoworldedu:
Apart from the transportation eating deep, the resources to buy those goods are no more there. Imagine, you want to be a yam seller, all you could purchase with 200k is mere 50 yams. Tfare and owo eru has eaten up a lot. You sell the yams and next market, the number of yams you can purchase with the money made is 30 yams. Buying it like that with the price hike, you got to your shop and people are not buying because it is too costly.

Eventually you are forced to lock up your shop till further notice.

Rilwayne001:
Transport cost is crazily high because of the cost of fuel.

No thanks to Trump war in Iran.

The whole thing is starting to affect price of goods again and inflation is going up.

Thunder fire that egotistical orange clown.

Nigeria government needs to do something to alleviate this pressure on vulnerable people in the society.

njokuuche77:
You know the current cost of govt?

aduboy:
Anambra distributes 177 vehicles to traditional rulers

Governor Peter Obi of Anambra State, on Monday in Awka, distributed one SUV each to the traditional rulers of the 177 communities in the state.

Obi handed over one of the vehicles’ key to the state Chairman of the Traditional Rulers’ Council, Igwe Alfred Achebe, Obi of Onitsha.

He said that the gesture was aimed at helping them run and build better communities, adding that the vehicles would also help the traditional rulers to function effectively.

“If you have better communities, you will have a better Anambra, Anambra today is changing for better and I want this sustained,” the governor said.

“In doing that, the state government and the local government will do what it can to support the building of a better Anambra.”

Achebe said that he was overjoyed because the governor cared about the well-being and welfare of the traditional rulers.

“It is completely unprecedented in Anambra and probably elsewhere in Nigeria,” he said.

“It is a mighty gesture from the governor and for the government of the state to make a distinct impact on the well-being of the traditional rulers in the state.”

According to him, it was one of the several measures the present administration in the state had taken to improve the wellbeing of the traditional rulers.

“We pray that God will give us a successor that will continue from where Obi has left and lift Anambra to the next level.”

http://telegraphng.com/2013/06/anambra-distributes-177-vehicles-to-traditional-rulers/

NLCreator:
Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, has defended the purchase of sports utility vehicles (SUVs) for members of the national assembly.

There have been reports that the leadership of the 10th national assembly has bought SUVs for all lawmakers.

Each SUV is said to be valued at N160 million.

The LP had asked members of the party in the national assembly to kick against “wastage”.

While responding to questions during a press conference in Abuja on Monday, the former governor of Anambra said the SUVs are not personal cars of the lawmakers, noting that they are for official use.

“Let me start with the issue of Labour Party members in the house. I have actually discussed this issue with them,” Obi said.

“Surprisingly, I can tell you I heard that these vehicles are official cars. They have to use it. It is meant for office.

“So it is not as if it is their vehicle. They said it is official cars and you are meant to use it while you are in the senate.”

Obi also hinted at contesting for the country’s number one position in 2027, adding that Nigeria deserves dedicated and visionary leaders who will lead the country towards a brighter future.

https://www.thecable.ng/theyre-for-official-use-obi-defends-purchase-of-n160m-suv-for-lawmakers/amp

Journalist: how do you intend to engage members of your party who are members of the house, so that they can stand different.......?

PO: Let me start with the issue of labour party members in the house, have actually discussed this issue with them, surprisingly, I can tell you ,… pic.twitter.com/svybrcY4t3

— Beyond (@chigozie0102) November 7, 2023

koxyz:
I pity those who resides in Lagos, some of them spend over ten thousand Naira in a day on transportation.

The government is less concerned about the plight of the people.

Rilwayne001:
Transport cost is crazily high because of the cost of fuel.

No thanks to Trump war in Iran.

The whole thing is starting to affect price of goods again and inflation is going up.

Thunder fire that egotistical orange clown.

Nigeria government needs to do something to alleviate this pressure on vulnerable people in the society.

anonimi:
Petrol should never cost more than N70 per litre, says APC

January 19, 2015

The All Progressives Congress (APC) has described as mere tokenism the reduction of petrol price from N97 to N87 per litre, saying the petroleum product ordinarily should sell for N70.

On Sunday, the federal government announced the reduction of petrol price, citing the fall of global crude oil price.

But the APC through Lai Mohammed, its spokesman, on Monday accused the government of making a show out of deceit, saying “a 10.3 per cent slash in the price of petrol was a mere tokenism at a time the price of crude oil has crashed by about 60 per cent”.

It argued that the pump price of a litre of petrol should not be more than 70 Naira, alleging that at N87 per litre, the government was forcing Nigerians to subsidise the massive corruption in the oil sector by N17 for every litre of fuel.

https://www.thecable.ng/petrol-never-cost-n70-per-litre-says-apc/

anonimi:
Eventually you should be forced to shed your tribalistic mindset and work with others to return Nigeria to the widespread prosperity and cheap petrol with less debt burden of PDP’s 16 years of deregulation and privatisation policies.

What are you waiting for to do that

Nextjs:
When we are arguing that removal of subsidy has negative impacts that exceed the positive impacts on Nigeria data boys will say its a lie.

A tanker of fuel was sold for just 8m when tinubu came on board but today its 60/68 million naira...


Subsidy removal has done more harm than good with no visible achievements n we still de borrow