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in blurtconnect •  10 months ago 

Hardship: Citizens Groan As Rice Hits N77,000 Per Bag, Beans N110,000 In Some Parts of Nigeria

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Residents of Anambra State are grappling with the relentless surge in the prices of essential food items such as rice, beans, garri, palm oil, tomatoes, onions, fruits, and more across various markets in the state.

According to firsthand accounts from residents and traders in Awka, the state capital, and Onitsha, the steep hike in prices is attributed to the strengthening of the dollar value.

This unfortunate situation has cast a shadow over the community, compelling people to ration their food supplies.

A visit to the Relief Market in Onitsha and the Eke-Awka Market in Awka revealed shocking price increments.

For instance, a 50kg bag of foreign rice now commands a staggering price tag of N72,000, compared to N51,000 just a month ago.

Similarly, a full bag of iron beans has soared to N110,000 from N89,000 within the same period.

In Lagos, residents echoed similar sentiments, expressing distress over the incessant rise in foodstuff prices, which has put a strain on their finances.

Mrs. Mede Orunmade, a mother of two, bemoaned the unbearable hardship inflicted by the current situation on her family.

She likened the circumstances to a state of war, emphasizing the continuous escalation of food prices.

Mrs. Orunmade shared her personal ordeal, highlighting the challenges of meeting basic needs amid soaring expenses.

She recounted the closure of her online business due to dwindling profits, reflecting the harsh economic realities faced by many Nigerians.

The drastic increase in the cost of everyday commodities is alarming. Mrs. Orunmade cited the exorbitant price of noodles, which has skyrocketed from N1,900-N2,000 to a staggering N7,000-N7,800 for a small carton.

Even staples like rice and garri have witnessed unprecedented price fluctuations, making it increasingly difficult for families to afford basic necessities.

In light of these hardships, residents like Mrs. Orunmade are calling on the government to intervene urgently before the situation spirals out of control.

The prevailing economic crisis demands swift and decisive action to alleviate the plight of ordinary citizens grappling with the harsh realities of inflation and price hikes.

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  ·  10 months ago  ·  

The value of the government currency is falling rapidly, causing huge damage to the economy and the people.

The hardship is just too much. The price of everything is increasing everyday. What you get as price today may no longer be the same in less than an hour or till the following day. People are groaning in pain due to the hardship.

We are just praying onto God for restoration.

  ·  10 months ago  ·  

Your government currency is in hyperinflation, which has happened to many other fiat currencies through history. I'm sure you're aware of Zimbabwe's hyperinflation in 2007. Their people were picking through the dirt for crumbs of gold, to pay for bread and produce. This is the end result of all fiat currencies in history, and it is even beginning to happen here in Canada, and in the USA. Fiat currencies are in a race to the bottom. That means real assets appear to be "going up in price"... relative to the failing currencies. For example, here is the price of gold since year 2000, price in Naira:

image.png

That is a classic example of hyperinflation.

Unfortunately, it usually continues to get even worse, as the currency spirals out of control to complete collapse.

Hmm, I can now see through the Len you see from. This will definitely pave wave gor digital currency like btc which will lead to mass adoption.

Currently dollar to is on the high side. Only people earning through foreign currency here in my country are enjoying the sweet rise.

Hmm, the hardship is just too much. The price of everything is just skyrocketing everyday. Food scarcity and the likes. We are just praying unto God for restoration.

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