Traders associations in Abuja have said the recent hike in the two major facilitators of economic activities will greatly impact on the family with serious consequences.
National President, Association of Women in Trade & Agriculture, Ruth Agbo and National President Nasara Women Initiative Multipurpose Cooperative society, Bunmi Elewonyori said these separately in their interviews with Akelicious.
Ruth Agbo said the family will suffer greatly by this increase as it would impact on the revenue of the family which has long been joggled between varied competing needs.
Mrs Agbo said the increase will further impact on Nigerian families with these increases in electricity and fuel coinciding with the end of year activities during which are increased the demand will put more pressure on the family revenue.
According to her, all these realities when juxtaposed with the consequences of Covid 19 pandemic and its impacts on the national and individual economy, there is no gainsaying the fact that the new rates for fuel and electricity will affect families.
Her words: “I know that whenever there is an increase in fuel prices automatically and naturally the prices of foodstuffs and everything that is sellable and buyable will definitely skyrocket and it will affect the transportation of goods and services from point to the other.
“Therefore, it is the consumer who will suffer, nobody has everything to themselves and of course, If you suffer one you enjoy one. I think that it is. If you ask me.
“I think the poor men will feel the pain more, especially as we are faced with the pandemic, everybody is still struggling to come out of the impact of the pandemic which is an ordeal in itself and these prices increases on all fronts at this time.
“The case of when pump price was reduced a few months back we saw it as succour and as a relief to a very minimal extent and suddenly, it has been increased again, it is like robbing Peter to pay Paul.
“This is a blow on all of us as we are contending with so many things at the same time. For me, I do not think we need a prophet to tell us that it is going to affect us.
“Another major issue is the fact that we have entered the ember months, Christmas is coming with all its w celebrations as the year runs to an end, more effect of this price hikes will manifest its impact on the ordinary Nigerian traders and the farmer, I think this will really affect us to a very large extent.
On her part, Mrs Elewonyori said the consumer of all products especially food is the family and the nutritional supply to the family would greatly be affected by this increases.
She said already many Nigerian families are already burdened on how to cope with the shrinking sources of revenue and then, this sudden spike of two critical drivers of the modern national economy.
Elewonyori said: “The consumer will definitely suffer this, and they are all members of the family unit whose economy, will be significantly pressured by the impact of the increases in fuel and electricity.
“Quite a number of Nigerian families are going to face serious budget limitation to cater to family needs. This is going to be a very serious challenge for the family and increased burden on poorer families who are struggling to manage their respective nutritional diet, especially for younger families.
“There is now a new challenge on prioritization of what the family will eat or not want to eat, and on àààaaà times, for some families, it is not as if they have sufficient nutritional meals, now the challenge is further compounded for them.
“Now all those items that are essentials for the meal will now be prioritized and on the impact of lower budgets. Again there times the woman is in a tight corner no gas and would need electricity to make the meal, this hike will make her rethink this decision.”