Residents of Ibadan took to the streets on Monday in a demonstration against the escalating cost of living under Chief Bola Tinubu, with protesters passionately chanting ‘Tinubu ole!’ and ‘renewed shege!’.
Holding placards with messages like ‘End food price hike’ and ‘This is not Hope Renewed. This is shege renewed,’ the demonstrators gathered at Mokola Roundabout to voice their discontent.
Video footage posted on X captured the protesters vehemently expressing their disapproval, shouting slogans such as “Tinubu is a thief!”
This protest in Ibadan follows similar demonstrations in Niger, Kano, Osun, and Lagos (Tinubu’s home state), all aimed at highlighting the challenges of hunger and other economic hardships faced by Nigerians.
Over the past nine months, the prices of essential food items have surged nearly 100 percent, as inflation continues to impact the Nigerian economy.
A recent market survey conducted by Peoples Gazette at Mararaba Market, Nasarawa, revealed alarming increases in prices. For instance, a bag of rice, a staple for many Nigerians, has risen from N35,000 to N65,000 since May of the previous year.
A bag of yellow garri, which sold for N25,000, has jumped to N40,000, while white garri now sells for N30,000 against N13,000 for which it sold last year.
A bag of corn that sold for N19,000 last year May now sells for N60,000, a bag of Millet sold for N18,000 now sells for N55,000, while flour for baking and pastries sells for N50,000 against N28,000 for which it sold last year May.
A ‘long slate’ of ‘Titus’ (mackerel) now sells for N105,000 against N78,000 for which it sold last year. A square cartoon of ‘Titus’ sold for N38,000 the previous year now sells for N78,000, while a 25 litre of palm oil formerly sold for N31,000 now sells for N41,000.
Traders at the market expressed their concerns, with Urah Chidiebere lamenting, “People are murmuring that things are too expensive. They don’t have money to buy. People who bought a bag before now buy half, and this has affected my sales.”
Bartholomew Ugwujah, another trader in Ibadan, voiced his apprehension for poor Nigerians, stating, “I don’t know whether Nigerian masses can bear what is happening in the market space now,” Mr Ugwujah said. “Formerly, a packet of Maggi is N600; now it is N1000; a ‘mudu’ of garri was formerly N300, now it is N600. A ‘mudu’ of rice formerly was N1,200; now it is N2,000.”
He added, “It has affected me in that before, I used to have 10 bags of rice, now I have three. Before, I stocked 20 cartoons of spaghetti. Now, I have two.
“Every day you go to the market, your money is depreciating. Because what you bought today for N100, tomorrow you will buy it for N300. Meaning, you can’t stock the number of cartoons you stock before.”
Inflation gained momentum following Bola Tinubu’s announcement of the removal of the petrol subsidy in May 2023, coupled with the Central Bank of Nigeria’s decision to float the naira.
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Despite being praised by experts, these policies resulted in a surge in petrol prices from N145 per litre to N630, and the naira’s depreciation against the dollar in the parallel market.
Acknowledging the prevailing hardship, Tinubu urged Nigerians to show understanding, stating, “The financial re-engineering of our country is ongoing. We are determined to deliver Nigeria safely through the tunnel of hope, stability, and economic prosperity.”
Recently, even supporters like fuji maestro Wasiu Ayinde, aka Kwam 1, who was Tinubu’s praise singer during his campaign, expressed concern over economic hardships, singing, “Nigerians are angry, traders are angry, why is kidnapping on the increase?” #Ibadan
