The month of Ramadan is the 9th month in the Islamic calendar, when Muslims across the world observe 29 or 30 days compulsory fasting in order to seek for Allah's forgiveness, favour and other good tidings that the month holds. As the month draws closer, it has always been the culture to within an increase in the price of food items. But this year is clearly different from the previous years.
According to the report of the research I did around some markets in my area here in Ilorin, Kwara State, I noticed that there is significant decrease in price of food items. Although, some items still maintain their normal prices. The decrease in price of some of these commodities show that the economy of the country will soon witness a positive change.
Without must Ado, let me start to list the food items that have reduced in price so far.
1. Palm Oil:
Some months ago, the price of palm oil has changed and increased from the normal price it is known to be. Palm oil is usually known to be one of the cheapest commodities, may be because it was locally mined and produced by village women. But since, the country has witnessed an inflation recently, the price of palm oil also increased. A litre of palm oil that was supposed to be sold for N600 then, was sold for N1000. But now the price has reduced and it is sold at N800 per litre.
Also, some months ago, onions seem to be very scares and expensive in the market. This happened to some parts of South West and South East of the country. But now it seems the story has changed and people can now buy onions at the cheapest price. You can actually buy up 6 pieces of onions for N100.
Garri has always remain the favourite food for average Nigeria. But just recently the price of Garri suddenly increased and the price is almost equivalent to that of rice and beans which was sold at N500 per bowl. Just this month, the price has reduced and it now sold for N400.
What is the situation report from your area? Kindly comment below.