Olugbede market leader decries high cost of essential commodities

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FILE PHOTO: Prices of food, fruits soar in Abuja.

FILE PHOTO; Food market

Mrs Esther Adebamowo, the female market leader otherwise known as “Iyaloja’’ of the Olugbede Market in Egbe-Idimu Local Government Development Council Area of Lagos, has decried high cost of essential commodities in the area.

Adebamowo, who made this known on Friday in Lagos, said that the purchasing power of the naira had depleted much.

According to her, the situation has caused more hardship on the masses.

“The truth is that there is financial tension in the land, many of us are in debt,’’ the market leader said.

She added that many traders in the market had resorted to taking loans and were not finding repayment easy.

“What is the point in taking loans, when you are not making enough sales? Business is about quick returns, so the situation is frustrating.

“Look at Garri (cassava flakes) that used to be N500 for three kilogrammes. It is now N1,000. Garri that used to be a common man’s food is now gold in our country.

“Taking loans from bank is not even advisable because interest rate is still high.

“We need the government to formulate polices that will be more beneficial to us; we need to feel the impact of government more,’’ Adebamowo said.

She, however, expressed the optimism that things would soon change for the better in the country.

She commended women for continued support for their husbands in providing for their homes, in spite of the economic situation.

“As women, we have doubled our efforts because we can’t watch our children suffer. No matter what happens, we must provide for our children.

“We do all sorts of contributions just to ensure that things are running smoothly,’’ she said.

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