By Jude Njoku & Bose Adelaja

Barely two weeks after the removal of subsidy on petroleum products was announced and the accompanying Labour-induced nation-wide strikes and protests, prices of goods and services have galloped beyond the reach of most Nigerians.

Although most markets in the urban centres, particularly in Lagos remained closed during the just suspended strike for fear of hoodlums cashing in on the protests to loot their wares, Vanguard Metro’s VM random survey shows that while the cost of transportation has risen to over 100 percent in some cases, the cost of buying goods and services have been adversely affected by the multiplier effect of the hike in the cost of transportation.

Vanguard Metro discovered that most petty traders who deal on foodstuffs and other consumables endeavoured to make it to popular markets like Mile 12 and Otto to buy their goods before the protests peaked around 9am. Having paid through their noses to get their wares to the points of sale, these traders usually exploited the fact that only a few of them were selling, to hike the price of their goods.

“My brother, you people should sympathise with me; I left my house very early in the morning to be able to buy these fruits. To get the vehicle that brought me back is another story entirely. I had to pay through my nose to transport myself and these fruits back to this place. I just added a little money to ensure that I don’t sell at a loss,” the trader, a pregnant woman who could be in her late 30s told VM at Orile.

A kerosine dealer, who identified himself as Baba Emma told VM that he had exhausted his stock but had to buy at cut-throat price from another dealer to ensure that his customers are retained. According to him, the price of the product has doubled since the deregulation came into effect.

At the building materials section, VM survey shows that a 50 kg bag of cement which was sold for N1,800, has galloped to over N2,000 but with few buyers as most people are meanwhile concentrating on feeding their households during the lingering strike period.

Apart from cement, the prices of other building materials such as roofing sheets and wood also shot up by over 30 percent.

Prices of building materials

Some traders who spoke to VM at Mile 12 and Ojuwoye markets in Lagos, claimed that the increase in pump price of fuel facilitated the hike in the prices of foodstuffs. A sachet of water popularly called pure water now sells for N10 as against the pre-deregulation price of N5 while a bag of 20 sachets is now sold for 100. The price before the fuel subsidy removal oscillated between 60 – 70 Naira.

Further investigations revealed that a bowl of garri and elubo now costs between N250 and N350 as against N180 and N250. Similarly, a tin of milk now goes for between N150 and N180 as against N110 and N130 while five litres of vegetable oil now sells for N750 instead of N620 two weeks ago.

Some artisans who spoke to VM explained that the cost of fuel has affected their business adversely. They noted that they pay almost triple the former price before they source for their tools. This also has a multiplied effect on the economy as their profit is based on short term.

A battery charger at Agege Mr. Muyiwa Ojekunle told VM that he decided to increase what he charges for his services from N300 to N450 because he relies solely on generator to do his business. According to him, the only transformer in his area has been left unattended to for some months.

‘’The government has been asking us to sacrifice and sacrifice, what is their own contribution so far? They don’t buy anything with their money; only God will judge. They are feeding fat on us,” he lamented.

Commercial bus drivers who defy the protests to make brisk business with their vehicles, kept the fares beyond the reach of some commuters. Apart from buying fuel at the black market at outrageous costs, these drivers are forced to “settle” hoodlums who used tyres and other dangerous objects to barricade the highways.

A commercial driver at Obalende who identified himself as John Obasa told VM that prior to the deregulation, he was paying N800 to the NURTW in the area on the daily basis. With the deregulation, the daily mandatory levy to the Union has shot up to N1,300. This is aside from the money he will use to settle the Police, LATSMA and Area Boys, a scenario that has also forced him to jerk up transport fares on his route.

The NURTW unit leader at Ketu Alapere who gave his name as ‘’Sabale’’ said Policemen have also what they demand from drivers as “settlement fee” from N50 to N100.. ‘’There are 3 check points between Alapere police station and Ajelogo and we are required to drop money at each of the check points. Since January 1, we now pay N100 at check points instead of N50, if you refuse to pay, the Police will delay you for hours,’’ he said.

Civil servants and students who have been caught in the strike/protests web also decried their plight when work/schools resume. With no corresponding increase in their salaries, some civil servants who spoke to VM said they may decide to take some days off since the cost of transportation would be too much for them.

“I have 4 children and each of them spends N300 daily; with the present development, each will now spend N600. Where do I get that kind of money from?” a bus driver Mr.Bisi Adefulire queried.