Iyaloja of Ibadan Defends Traders Over Rising Food Prices, Blames Cost Increases on Economic Pressures
The Iyaloja of Ibadanland, Chief Mrs. Iswat Abiola Oyinlola Ameringun, has responded to concerns raised by residents blaming traders, market men and women for worsening economic hardship through alleged price increases aimed at making higher profits.
Ameringun, however, attributed the rising prices of goods to the general increase in the cost of commodities, explaining that traders also purchase goods at higher prices and are consequently unable to maintain previous selling prices.
Speaking with journalists in Ibadan, the Iyaloja said the increase in the cost of goods had affected traders and consumers alike, stressing that the situation was beyond the control of market men and women.
She said the price of commodities had continued to rise from the point of purchase, using tomatoes as an example of the sharp changes traders have experienced within a short period.
“The price of things is not our fault. It is the general increase in the cost of goods from where we buy them. Last month, look at the price we were buying a basket of tomatoes, and compare it with what we are buying today,” she said.
Ameringun said the continuous increase in the cost of commodities had affected virtually every aspect of trading, making it difficult for traders to sell goods at the prices consumers were previously accustomed to.
She explained that traders must also recover the money invested in purchasing their goods and meet other expenses associated with bringing commodities to the markets, noting that further increases in operating costs ultimately affect selling prices.
The Iyaloja also appealed to consumers to understand the challenges confronting traders, saying market women and men are equally affected by the prevailing economic situation and depend on the same market conditions for their livelihoods.
She appealed to the Federal Government and the Oyo State Government to intensify efforts to reduce the cost of goods and ease the pressure on Nigerians, noting that any emergency measures capable of reducing prices would also benefit markets.
“By the grace of God, I am appealing to the Federal Government and the state government to please help us reduce everything. If there is an emergency, our markets will also be reduced. By God’s grace, everything will be okay,” Ameringun added.
She maintained that reducing the cost of goods at the source would help ease pressure on traders and consumers, expressing optimism that concerted efforts by the authorities would eventually bring relief to households and businesses across the state.