By Harry Awurumibe, Editor, Abuja Bureau
Barely one week to the greatest annual christian celebration, Christmas Day, which falls on Monday, December 25, there are indications that the harsh economic situation in Nigeria will prevent many Nigerians, both the christian faithful and non christians, from maximising the full benefits of the period which is characterised by festivities and travelling across the country especially by land and air transportation.
But Prompt News can confirm that the usual pre-yuletide economic activities seen at this time of the year have disappeared as many Nigerians especially the low income earners-civil servants and those in the informal sector have been hit by the harsh economic climate in Nigeria with many citizens unable to muster the financial resources to spend on their families during this Christmas period.
This has been made worse by President Bola Ahmed Tinubu led federal government economic policies which have brought alot of hardship on Nigerians especially since the removal of fuel subsidy on May 29, 2023 and its attendant hike in Premium Motor Spirits (PMS) which has triggered inflation in the country as prices of goods and services have hit the skies.
A visit to most of the major markets and motor parks in the Federal Capital Territory (FCT) during the week cleared showed that Nigerians are not preparing for Christmas which is few days away as the usual hustling and bustling during the yuletide are currently visibly absent.
The ever-busy Wuse Main Market, Garki Model Market, Garki New Market and Utako Market in Abuja metropolis and the various motor parks in Jabi, Utako luxury bus terminal and Gwagwalada area of Abuja look like ghost towns as only few passengers were seen travelling.
The situation is the same at various private parks in FCT owned by individuals and state-owned transport companies like Imo Transport Company (ITC), Peace Mass Transport, Autostar Motors, Abia Lines Transport, God Is Good, Delta Lines. Akwa Ibom Transport, TRACAS, Cross Lines, Benue Links, Rivers State Trans, Ifesinachi Transport, and others located at Utako and Jabi areas of FCT.
Economic activities are also at its lowest ebb at satellite towns of Maraba, Nyanya, Zuba, Dei Dei, Kubwa and Area Councils of Gwari, Kwali, Kuje and Abaji as cost of living has skyrocketed in the past six months, a situation which has made life unbearable for many people.
Further investigations revealed that business activities at different shopping centres and supermarkets in FCT and across the country are at all time low as many shoppers do not have the financial resources to shop for their families ahead of the festivities, a situation which has left shop owners wondering where they will get the money to pay their rents when they are due for payment.
Curiously, the prices of goods in the markets in FCT and across the country are still high despite the low patronage as the sellers insist that they purchased goods at high cost and will not sell at a loss for whatever reasons. They said they sell according to how they bought their goods and have to add their profit margins.
Chief Ethelbert Maduka-Nna, a supermarket owner in the Wuse area of FCT confirmed that sales have been low as Nigerians are not shopping the way they normally do in previous years at Christmas period like this, adding that if the situation remains the same in days ahead the yuletide will not be enjoyable.
Also, Hajia Hauwa Auwal who deals on jewellery, fashion and beauty products at Garki Model Market, Abuja bemoans low patronage, pointing out that the situation in the country has made it difficult for people to buy themselves jewellery and fashion products.
“It is no longer news that Nigerians are suffering from economic hardship. It has translated into low sales as people’s purchasing powers have dropped drastically. Not many people can afford their daily bread at the present. For these reasons patronage has been low”, she concluded.
A Lagos resident who pleaded anonymity told Prompt News that the usual euphoria of yuletide have so far been absent in Lagos metropolis as the shopping spree that characterised the Christmas of past years have not been seen yet especially in the business areas of Lagos Island, Yaba, Mushin, Surulere, Amuwo-Odofin, Oshodi and Ikeja among others.
The resident also confirmed that activities at major Lagos bus terminal of Jibowu, Ojota, Mile-2, Iddo, Oshodi, FESTAC Gate, Orile-Iganmu, Ijeshatedo, Ikeja, etc are witnessing low activities as passengers are not coming out in their numbers as Christmas approaches.
Alhaji Ismaila Dan Kano who sales household items in Sabon Gari, Kano said the usual pre-yuletide business boom by this time of the year have not been seen this year because of the harsh economic situation in Nigeria. He said it is now impossible to make huge gains on goods because prices have been unstable.
Said he: “We are no longer making gains on our goods because of market forces occasioned by the high exchange rate for those of us who import our goods from abroad. We are not even recovering our investments at all. The situation is affecting everyone in the country”. READ ALSO:
- Bobrisky Reveals Why He Left Nigeria Amid Probe
- Tinubu directs immediate release of minors facing prosecution
- Tinubu to New Ministers: You Are On A Rescue Mission
- Music Industry Legend Quincy Jones Dies Aged 91
- Trump, Harris campaigns race to get vote out on eve of U.S. election
However, most affected in the business lull are those in the Southern part of Nigeria where it has been observed that there are no signs of Christmas festivities in the air as most big markets in Onitsha Main Market and Ogbete Main Market in Anambra and Enugu states are shadow of their former selves as traders are complete of low sales.
Also traders at the popular Ariaria Model Market, Aba and Onu Imo Main Market, Umuahia, both in Abia state and Eke Ukwu and Relief Markets in Owerri, Imo state are reporting low patronage with most traders blaming the situation on the economic hardships that have persisted in Nigeria since the removal of fuel subsidy by President Tinubu on May 29 during his swearing in ceremony in Abuja.
Even more unfortunate is the fact that most people in the big cities across Nigeria will not travel to the towns and villages like in the past years to celebrate Christmas holidays which are the convenient period for people from the Southern part of Nigeria to travel to the states of origin for several reasons.
A resident of AMAC, FCT, Johnson Amadi said he is not travelling to his hometown in the South East geopolitical zone because he cannot afford the money to take his family of six to his state. He said the cost of transportation to South East is so high while he will require higher amount of money to fuel his car if he should embark on the trip.
He revealed that his family like many others in his shoes will celebrate Christmas holidays in Abuja as the present economic hardship occasioned by fuel subsidy removal and the recent cash crunch and PMS scarcity which have hit the country will make travelling during this yuletide most expensive in recent history.
