Market sellers and traders at the sabo- market, Sagamu lament the high cost of their products stating that the rate at which what they sell has increased is alarming and this has affected the patronage they get from buyers.
A shop owner at the market stated that the economy has really impacted the flow of business in the market. In her statement, she Said, ” I don’t genuinely understand what’s happening again in this country”
“Things are not like it used to be again. I’ve been in this shop all morning and not a single customer has visited to patronize me. This is so because there’s no money and everyone is just managing to survive” she added.
Insights from the industry activities showed that macroeconomic indicators, relatively slow economic growth, high unemployment, and rising prices will remain barriers to consumer spending this year.
Already, local manufacturers have expressed weaker confidence in the economy, venting concerns about the rising cost of production and low competitiveness induced by government’s policies.
A trader added that the planned increase in electricity tariffs, also potentially adds to inflationary pressures for the consumer, saying: “We particularly expect these to drive up prices of most essential items such as food, petrol, and transport.