As Christmas and New year approaches, the rising cost of essential food items has become a source of deep concern for millions of Nigerians. What should be a season of joy and celebration is now overshadowed by the grim reality of escalating prices. A bag of rice currently sells for an outrageous ₦105,000, while a single chicken costs as much as ₦20,000. And this is happening weeks before December 25th. If the trend continues unchecked, one can only imagine the unbearable financial burden that will weigh on families by Christmas week.
The masses are already bearing the brunt of an unstable economy, characterized by inflation, unemployment, and dwindling purchasing power. Yet, the current price hikes suggest something more sinister—a deliberate exploitation by some individuals and businesses seeking to enrich themselves at the expense of the voiceless.
The Reality of Rice Production Costs
As a concerned citizen with firsthand experience in the agricultural sector, I can confidently say these exorbitant prices are unjustifiable. My wife owns a rice production factory, and based on operational and logistics calculations, a bag of rice can be produced and delivered to Lagos for about ₦65,000. This includes the cost of raw materials, processing, packaging, and transportation. Yet, what we see in the market reflects greed, not necessity.
The question then arises: why is a commodity that can reasonably cost ₦65,000 being sold at ₦105,000 or more? The answer lies in the unchecked practices of middlemen and wholesalers who inflate prices to maximize profits, with little to no regard for the financial struggles of ordinary Nigerians. This is a form of economic oppression that must not be ignored.
The Need for Government Intervention
It is time for the government to take decisive action to address this issue. Price control mechanisms are not only necessary but urgent. Here are some steps the government can take to stabilize the situation:
1. Collaboration with Producers: Engage directly with local farmers and producers to assess the actual cost of production and ensure fair pricing.
2. Regulation of Middlemen: Monitor and regulate the activities of middlemen and wholesalers who exploit the market. This can be achieved by setting maximum retail prices for essential commodities.
3. Subsidies and Incentives: Provide subsidies for transportation and energy costs for producers and distributors to reduce the overall cost of goods.
4. Market Surveillance: Establish task forces to monitor markets and penalize those who engage in price gouging.
A Moral Responsibility
This plea goes beyond policy; it is a call for humanity and compassion. Those who exploit the masses for profit must reflect on the consequences of their actions. There will come a day when all of us, regardless of wealth or status, will leave this earth with nothing. What legacy will they leave behind—a legacy of greed or one of kindness and fairness?
The festive season is a time to share joy, not deepen suffering. Every Nigerian deserves the opportunity to celebrate with dignity, and we must all play a role in making this possible. To individuals and businesses with the capacity to help, I urge you to support the less privileged in whatever way you can. To the government and regulatory bodies, I appeal to you: act now to prevent further hardship and suffering.
Conclusion
Let this festive season be a turning point where we prioritize humanity over profit and fairness over exploitation. Together, we can ensure that every Nigerian feels the warmth and joy of the holidays, no matter their economic status.
Dr. Tofunmi Ogunronbi
