Consumers on Thursday complained the sellers of electronic gadgets and other food items have hiked the prices of their goods out of the reach of consumers.
They specifically complained that the prices of foodstuffs and electronics increased sharply in Iyana Ipaja market in 2018.
Sunday Telegraph leant on Thursday that electronics products like Electric oven 20 liters, which was selling at N9, 500 last year in the market is now sold at N14, 000; the 37 liters brand which was sold last year at N13, 500 now goes for N18, 000.
In the same vein 43 inches television, which was selling at N80, 000 in 2017, have not sold at below N85, 000 this year while the 22 inches which sold at N28, 000 last year now sells for N40,000.
According to Oluwasegun Kingsley, a seller of electronic products at the Iyana Ipaja market, the reasons for the sharp increase in the price electronics products this year is because the exchange rate of the naira against the dollar has remained on the high side since last year.
“Anytime the exchange rate of the dollar is high, the price of electronic gadgets will also be high, so we the sellers have no choice than to increase the prices of these items,” he explained.
He added that the increase in price of electronics between last year and now is over 38 per cent in most cases.
In the building materials section, Sunday Telegraph learnt that 50kg bag of Dangote cement now sells at N2, 800 while the Elephant cement now goes at N2, 500 per 50kg bag. The measurement of Eagle cement sells at N2, 550.
Mrs. Okiki a seller of cements said that the price of each brand of cement rose by about N200 or N500 in the review period. She disclosed that the price of a bag of one inch of nails sells at N6, 500; a bag of two- inch nails at N6, 000. Also, a bag of three-inch nails is selling at N6, 000 while that of four inches sells at N6, 500. It was further disclosed that a pack of two inch concrete nails which is popularly known as “Tenado” is selling at N1, 200; while one pack of three-inch is selling at N1, 200 in the market; it was sold at N800 last year. One pack of four-inch is selling at N1, 200.
However, Sunday Telegraph learnt that the price a ‘paint plastic’ of different makes of Cassava flakes, also known as “Garri” which sold between N500 to N700 in the market last year, has fallen to N400 a ‘paint plastic’, depending on the type .
There is ‘Garri kila’ between sells at N500 per paint plastic,’ Garri oyo’ is N400 per paint plastic, “Garri Cotonou” per paint plastic is N500.
A plastic (16 Derica cups) of ‘Drum beans’ is N5,200 and a plastic of “Modara beans” is N4,800 while ‘Oloyin beans’ now sells at N5,400.
A basket of tomatoes is sold at N13, 000 in the market, while a basket of onions is sold at N25, 600. Also, 50kg basket of chili pepper popularly known as Rodi sold at N16, 000 on Thursday.
Meanwhile, Sunday Telegraph learnt that the price of furniture in 2018 has also increased by over N5000 in the market in the review year. The family set which has one three sitter, (2) one two sitter, (3) one single sitter with one rest chair is now attracts a minimum price of N250,000 depending on the materials, the family set which has one three sitter, (2) one two sitter and 2 single sitters sells at N120,000, while the family set with (1) one two sitter and two single sitters is N80,000 depending on the materials-leather, cloth and plank. Tables also sell at N120, 000; N80, 000; N70, 000 and N40, 000 depending on the materials used.
According to a seller of this furniture material, Deji Omoyele; the price of furniture products is determined by the materials. He said: “You can’t say furniture should be sold at the same price just because they have the same number of chairs or table, it depends on how and where you get your materials from and sometimes how good your material are, for example a three faced (3 doors) wardrobe is N150, 000 but the same three faced wardrobe can be bought for N180, 000 and even sometimes N200, 000.”
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