Fuel Scarcity Cost Frozen-Food Traders Over N10 million

The fuel scarcity caused a lot of major companies to shutdown in the past week, as network providers like MTN, Glo and radio stations in Beatfm all had to stay offline for hours of the day.

However it seems the biggest loosers from the scarcity are Frozen food traders in Ijora-Olopa, Lagos, who lost over N10 million worth of food items between May 23 and May 25 blackout.

 

The items lost in the power outage period include chicken, turkey, fish, shrimps, gizzard and prawns.

Nigeria’s electricity company powers its generators with Petrol and diesel, and therefore couldnt provide electricity to the Ijora-olopa frozen-food traders

The market leader; Alhaja Afusat Popoola, said the irregular power supply forced many traders out of business, while others are owing banks.

“We used to have many frozen food traders in this market before but this power outage has cost them to lose their trade. Previously, when power supply was regular, we used to sell more than seven trucks of fish, turkey and chicken daily,” she said, adding: “There is no kind of fish that one will not find in this market before, because it is the number one frozen food market but now the poor power supply has liquidated many traders. Some of the traders that are using generating sets are spending close to N80,000 to buy diesel or petrol monthly. By the time one removes this amount from monthly sales, you discovered that you’ve spent a good part of your profit to buy diesel.”

the hike in Fuel price made several consumable goods expensive during the period, as Pepper and cooking items almost doubled in market value price, but with the steady return to normal petroleum pump price, food items are also getting back to stable price.

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