Abiodun Kosoko, Babaloja General of Agbado Oke-Odo LCDA, has blamed rising fuel prices for surging food costs, warning that transport expenses are squeezing traders and deepening hardship for consumers across Lagos.
Mr Kosoko spoke during a visit by journalists to Ile Epo Market, describing a sharp disconnect between foot traffic and actual sales.
He said although markets still attract crowds daily, purchasing power has weakened significantly, leaving traders with unsold goods and diminishing returns on their investments.
Mr Kosoko explained that many traders source food items from northern and neighbouring states, where production is higher, but transportation to Lagos is increasingly expensive.
According to him, distance, fuel costs, and multiple levies along supply routes all combine to inflate the final prices paid by consumers in urban markets.
“People come to buy foodstuffs but leave with less than planned. There are turnouts but no turnover,” Mr Kosoko said.
He warned that the trend threatens the sustainability of small-scale traders, many of whom depend on quick sales to avoid losses from perishable goods.
Mr Kosoko urged the federal government to intervene through fuel subsidy or targeted transport support to stabilise prices and protect both traders and low-income households.
He noted that a bag of rice, previously sold for ₦50,000, now costs between ₦56,000 and ₦58,000, depending on brand and supply conditions.
“It is affecting us sellers because some goods spoil if unsold. People now buy in smaller quantities unlike before,” he added.
Hammed Adekunle, a meat seller, said customers frequently expressed shock at prices, often accusing traders of profiteering without understanding supply chain realities.
He said bargaining had become more intense, with some customers attempting to reduce ₦5,000 worth of meat purchases to as low as ₦1,000.
“They think I inflate prices, but suppliers keep raising costs beyond my control,” Mr Adekunle said.
Mr Adekunle added that rising costs of livestock, feed, and transportation have left meat sellers with little choice but to adjust prices or risk running at a loss.
Sola Ogunbade, a teacher, said the persistent rise in food prices has forced her to prioritise essential items while dropping others from her shopping list.
“Foodstuffs are expensive. I must stick to my budget even if my list isn’t complete,” she said.
She noted that even staple foods such as rice, beans, and vegetables have become difficult to afford in sufficient quantities for her household.
Mary Chukwu, a mother of three, said the situation has reduced family meals to basic survival, with little room for nutritional balance or dietary variety.
She explained that her focus is now on ensuring her children do not go hungry, even if meals lack protein, fruits, or other essential nutrients.
Ms Chukwu appealed to government authorities to consider subsidies on fuel and key food items to ease pressure on struggling families.
Funbi Idowu described the Easter period as the hardest his family has experienced, saying economic realities had forced them to scale down celebrations.
“We can’t afford a whole chicken. We will celebrate Easter quietly and hope things improve,” he said.
He added that what used to be a festive period marked by abundance has now become a time of careful spending and reduced expectations.
(NAN)
