GLOOMY SEASON AS COST OF LIVING CRISIS DAMPENS CHRISTMAS

Chrismas season like this, celebration is always at the top gear as celebrants go about  shopping of all kinds of goodies ranging from  chickens, goats, cow, yams- to be used for food,  clothing  materials for themselves and  children - for them to eat and look gorgeous on the day of the Christmas. 

To  this end, traders who sell in the market also have their feel as they sell enough to make money while fashion designers, barbers  make good money as people patronise them. All these happened years ago when the standard of living was high and cost of living was  low. Today, due to the high cost of living, the Christmas has been dampened. Against this background, PEBNEWS crew went about to investigate how the high cost of living at  present affected their  chrismas celebration.

In a chat with PebNews Toju Misan, a fashion designer, had always anticipated a high number of customers at her fashion store and Spa outfit, ML Luxury. This has been a trend every Christmas.

However, it has not been the case this year. With inflation at its peak  and Nigerians experiencing the worst cost-of-living crisis in decades, she has seen few requests from clients.

“I see, it is  because in my house, we only spend on essentials,” said 40-year-old Preye, noting that living in Nigeria is all about survival as households are in dire straits.

“I also didn’t make dresses for my children this Christmas as a fashion designer. I need to save up for their school fees for January, which is more important than Christmas clothing,” she said.

Preye, like many Nigerians, are cutting down on purchases and forgoing traditions as prices continue on a relentless rise. The situation calls for cautious spending as it is shrinking wallets and affecting people’s ability to feed, forcing Nigerians into a desperate search for free food.

Recall that, no fewer than 60 people, including children, died in three separate stampedes last week in the country, as large crowds gathered to collect rice and other food items distributed at annual Christmas events.

By this time last year,  streets in Warri, Effurun, to mention but a few were bubbling with Christmas excitement, but the mood is gloomy in 2024 as the cost of living crisis intensifies.

Nigerians are now poorer than they were in 2023, with the World Bank saying in its latest Nigeria Development Update report that at least 129 million people (64.5) live below the national poverty line in Africa’s most populous nation.

Food prices are at 100 percent high year to date as weaker naira, climate change, petrol subsidy removal and escalating insecurity that hit the people hard.

The constant surge has accelerated headline inflation to 34.6 percent in November 2024 and food inflation to 39.9 percent, according to the most recent National Bureau of Statistics CPI report.

“Prices of everything have gone up, and things are difficult right now,” said Grace Williams, a 52-year-old woman, who was at Main Market to make purchases.

“Food is quite expensive. People’s source of income is not as high as it was before. So, giving gifts this Christmas will be difficult” said Williams.

On the cost of foodstuffs,PebNews survey  at some markets in Warri shows that a 50kg bag of local parboiled rice, which was sold for an average of N60,000 a year ago, now sells for an average of N130,000, indicating a huge percent increase in price. 

A 50 kg bag of foreign rice sold for N65,000 last December now sells for N120,000, indicating an 85 percent rise in price. 

Similarly, a 10 kg carton of frozen chicken now sells for N55,000 as against N32,000 sold in December 2023, indicating a 71.9 percent increase in price. Also, a 10 kg of frozen turkey now sells for N75,000 as against N50,000 a year ago, showing a 50 percent rise in price. 

Similarly, a 25-liter gallon of vegetable oil sells for N90,000 as against N42,000 last December, while a big bottle sells for N6,000. 

For fresh tomatoes, a big basket sells for N60,000 as against N21,000 sold last December. A bag of pepper now sells between N80,000 and N100,000. 

Prices of onions have surged by 133.3 percent in a year as a 100kg bag sells for an average of N400,000 as against N120,000 seen last December. A small bag now sells for N180,000. 

Ada Obi,  mother of three, who resides in Sokoh Estate, said the intensifying cost-of-living crisis means Christmas will be a bit different this year for her family as they will not travel to their village as the Ibo's do annually. 
“Yearly at Christmas, I usually cooked and shared food items with my neighbours. However, I will not be doing that this year because I cannot afford to do so due  to the high cost of food items,” Obi said.