• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 26, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Garri sellers blame naira scarcity for hike in price

Garri

The Matters Press by The Matters Press
March 8, 2023
Reading Time: 2 mins read
0
Garri sellers blame naira scarcity for hike in price

Some foodstuff traders in Lagos on Tuesday blamed the naira scarcity for the hike in the prices of cassava granules commonly known as ‘garri’ in the market.

RELATED POSTS

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

A survey conducted in some local markets shows that a paint bucket of garri now sells as high as N1,600, as against the N800 it sold in December.

Also, a bag is now sells for N18,500 compared to N13,500 it was sold in January.

A foodstuff dealer in Amuwo Odofin, Mrs Judith Amen, said the farmers do not believe in transfers but want cash for their produce, hence the hike.

“The reason for the hike in the prices of garri is mainly due to the cash crunch.

“Presently, I only have one bag in my shop because the farmers are rejecting transfers.

“They do not even want to hear transfers because most of them do not have bank accounts and cannot access the funds even when the funds are transferred.

“We have to buy cash in order to buy the produce from the farmers. So, the cost of buying cash has reflected in the hike in the price of garri.

“The transporters also are not accepting transfers, so until the situation is resolved the hike will persist,” Amen said.

On his part, Mr John Nwabueze, a trader in Alimosho, also attributed the hike to cash crunch.

“The cost of a paint bucket of garri sells between for N1,500 and N1,600 due to the difficulties we face in accessing the product.

“Even the transporters are asking for cash.

“The stress of buying cash in Edo and Delta states where the staple food is produced in large quantity has reflected in the present cost of garri.

“It is very difficult for us that do retail sales because we cannot even access the cash as most of our customers do transfers for their purchases,” Nwabueze said.

Another trader, Mrs Queeneth Oloyede, said there was nothing the traders can do about the hike as they have to sell and make returns.

“There has been an increase in the price of garri due to the limited cash in circulation.

“The farmers are complaining and are unwilling to accept transfers.

“There is nothing we can do but to add the charges of buying cash in order not to make loss,” Oloyede said.

Mr Sam Osinachi, a trader in Agege, also blamed the cash scarcity for the hike.

“We really do not know what is going on but there has been a steady increase in the price of garri.

“However, the hike can be closely linked to the cost incurred accessing cash to buy the produce.

“We have no choice but to sell in such a way to make a little profit, hence the hike in the price,” Osinachi said.

Tags: Garri
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
Energy

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

June 25, 2025
Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope
News

Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope

June 25, 2025
79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Tinubu denies manipulating NASS
Economy/Technology

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

June 20, 2025
Next Post
New Naira notes unavailable even as CBN campaigns for acceptance

No access to Naira notes in spite of apex court’s order

Eswatini for $140m Afreximbank’s credit

Afreximbank opens registration for certificate of trade finance in Africa

Recommended Stories

Eulogising Africa’s efforts in midwifing a Covid-19 vaccine

Nigeria’s upgrade of health centres, a major milestone in Renewed Hope Agenda

May 13, 2025
TCN overhauls equipment for improved electricity supply

Transcorp Power posts bumper profit, declares super dividend

April 2, 2024
Power line to energise part of Oyo

China’s power generation up 9.9% in August

September 19, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
  • Tinubu’s Visit to Benue, Mark of True Leadership, Renewed Hope
  • Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us