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Electronics, others unchanged in Q1 2019

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Electronics, others unchanged in Q1 2019

Dealers in electronics gadgets in Idumota Market, Lagos Island on Wednesday said that they have not increased the prices of their wares since the beginning of the year. They, however, complained of low patronage from customers.

They said the prices of electronics products which increased sharply in the market in 2018 though not coming, did not recorded any increase is first quarter 2019.

Sunday Telegraph leant that electronics products like electric oven 20 liters, which rose to N14, 000 from N9, 500 last year, has remained stable since the beginning of 2019. Also, the 37 liters brand which rose to N18, 000 last year from N13, 500; has not recorded any increase this year.

In the same vein 43-inch television, which rose to N85,000 from N80, 000 in 2017; is stable while the 22- inch which started selling at N40,000 last year, has remained stable at that price in the first three months of 2019.

According to Oluwasegun kehinde, an electronics products dealer at Idumota, stated that the though the price has been stable, it is still expensive for an average consumer. He added that the exchange rate problem is the reason why the price of electronics products is not coming down. “Anytime the exchange rate is high, the price of electronics gadgets will also be high, so we the sellers have no choice, but the implication is that we cannot sell.”

He added that the increase in price of electronics between 2017 and December 2018 is over 38 per cent in most cases.

Meanwhile, Sunday Telegraph learnt that the price of a two kilogramme of Cassava flakes, also known as “garri” has remained stable at N500. There is ‘Garri kila’ which is sells at N500 per ‘paint’, Garri Oyo’ is N400 per paint plastic, “Garri Cotonou” per paint plastic is N500.

A plastic (16 Derica cups) of ‘Drum beans’ is N3,200 and a plastic of “Modara beans” is N3,500 while ‘Oloyin beans’ sells at N4,000.

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