News
Food vendors lament rising cost of beans, seek FG’s intervention
Canteen and restaurant owners have decried the rising cost of beans as they seek Federal Government’s intervention over the staple food.
The food vendors said this in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos.
NAN reports that in recent times the price of beans has tripled in the market nationwide.
A 40kg bag of beans, which sold for N26,000 in January, now sells for N115,000, while a 100kg bag which sold for N55,000 at the beginning of the year, now sells for N230,000 to N280,000 per bag depending on the species.
Mrs Kemi Adebayo, a restaurant owner in Alagutan, Alimosho area, lamented that food vendors are not making profit from the sale of beans owing to the price hike.
“We do not know how to do it anymore, we are just selling to be in business. We are not making profits at all. Beans has become gold.
“If there is anything the government can do to help us, it will go a long way to help. We sell beans now for N300 per spoon.
“This is the highest we have seen since I started this cooking business. There are no alternatives to beans, we have thought of any alternative to beans. In fact, the price of all food items is on the increase.
“Even people that ask for spaghetti to mix with their rice have no choice but to buy beans. It is a necessary dietary requirement,” Adebayo said.
A trader of mashed beans locally known as ‘Ewa Agoyin’ at the Folarin area of Alimosho, Mrs Titilayo Oremeji, said they can no longer buy the produce in large quantities since the hike.
“I mainly sell beans because the locals prefer the ‘Ewa Agoyin’ delicacy but the price hike is crippling business.
“I usually buy a bag of beans for business but I can’t afford to buy it now. I just bought a few ‘derica’ to cook for my customers this morning.
“Presently, a cup sells for as high as N1,700, we bought a derica for N500 early in January.
“I was told to go to the Agege Market, that I would get a bag of mixed species of beans at N220,000 as against N260,000 to N280,000 for the regular beans,” Oremeji said.
She noted that “food vendors have started selling beans for N200 per serving spoon, so as to break even.
“There are indeed no alternatives to beans, though to feel satisfied, some of our customers order fried plantain, yam and bread with the beans they can afford.
“We just want the government to wade into this situation and make things easy for the average Nigerian,” she said.
On her part, a cooked food trader popularly known as Iya Adetoun, at Apatira Street, Alimosho, decried the situation and how they have cut down on the volume they cook daily.
“The rising price of beans is biting hard on our business, but we have no choice but to sell as we buy.
“We have increased the price of beans per serving. Before the price hike, we used to sell a spoon at N50 but now, we sell at N200 per serving spoon.
“There are no alternatives to beans, though some customers combine their meals with spaghetti, most still insist on beans.
“We have reduced the quantity we sell because not everyone can afford the usual staple food,” she said.
A civil servant, Mrs Ada Okoye, a mother of three, told NAN that the price of beans has become very alarming and beyond the reach of many Nigerians.
Okoye said she had to look for other alternative to beans like pigeon peas popularly known as ‘fiofio’ in Igbo.
“I had to look for other seedlings in form of beans to buy which are lesser in price, like pigeon peas.
“I do also buy beans but I have reduced the amount and frequency in cooking it so that we at least eat it,” she said.
Mrs Iyabo Bello, a mother of three, said that it has become very difficult to eat balanced diet in Nigeria.
“The hike of beans price is worrisome, owing that the commodity is one of the major source of protein that people commonly consume.
“It’s over two months that I ate beans last because of the hike in price, as my salary cannot afford extra cost because everything is costly in the market.
“Even other sources of protein are costly and people are now struggling to have balanced diet in this country,” Bello said.
She called on the Federal Government to tackle the persistent rising food inflation and food insecurity in the country to prevent imminent hunger.(NAN
The Nigerian electricity sector slowed in the fourth quarter of 2024 (Q4 2024), with the electricity production index declining by 1.64% year-on-year (y-o-y).
Data from the Central Bank of Nigeria (CBN) says this marks a reversal from the 5.55% growth recorded in the third quarter of 2024 (Q3 2024).
Average estimated electricity generation rose by 2.34% to 4,206.50 megawatts per hour (MW/h) from 4,110.47 MW/h in Q3 2024.
Similarly, electricity consumption saw a modest increase of 2.63%, reaching 4,105.66 MW/h from 4,000.24 MW/h in the preceding quarter.
This is as the Nigerian economy witnessed widespread expansion in the fourth quarter of 2024 (Q4 2024), with 21 out of 22 subsectors recording positive growth.
On a quarter-on-quarter (q-o-q) basis, however, the subsector showed signs of recovery, as the index rose by 22.50% compared to a significant decline of 49.46% in the previous quarter.
The broad-based economic expansion in Q4 2024 can be attributed to several factors, including improved business confidence, increased consumer spending, and enhanced performance in key sectors such as agriculture, manufacturing, and telecommunications.
The government’s fiscal and monetary policies, aimed at stabilising inflation and boosting investment, also contributed to the positive momentum.
According to the CBN, the improvement was largely attributed to enhanced gas supply to thermal power stations and the continued implementation of the Siemens Power Project, which has positively impacted power generation, transmission, and distribution networks.
Notably, the oil and gas sector benefited from relatively stable crude oil prices and improved domestic production, which provided a boost to overall economic output.
The data also stated that the non-oil sector, particularly fintech and digital services, also played a significant role in driving economic activities.
Governor Siminalayi Fubara speaking when he received Muslim leaders from 20 Islamic-based groups in Port Harcourt.
Suspended Governor of Rivers State, Siminalayi Fubara, has assured residents that the ongoing political crisis in the state will ultimately strengthen the people rather than weaken them.
Fubara made this statement when he received Muslim leaders from 20 Islamic-based groups, including the Supreme Council for Islamic Affairs, at his private residence in Port Harcourt during an Eid-El-Fitr Sallah visit.
Addressing the delegation, Governor Fubara urged them and his supporters to trust in God’s process, saying: “This season is one of love, sharing, and sacrifice. You have come to share in our pain and have made a great sacrifice through your prayers. As Christians, we believe that everything happens for a purpose, and I strongly believe that this situation is leading us toward a greater purpose.”
He acknowledged that the current political tension might leave many feeling depressed but emphasised that supernatural forces may be at play beyond human understanding.
“No matter what we see, we must remain steadfast. In all things, we give glory to Almighty God. I believe that in the end, we will emerge stronger,” he added.
He reaffirmed his commitment to justice and equality, stressing that his administration envisions a society where no one is oppressed.
“We believe in egalitarianism, and if our beliefs bring us some pain, so be it. The most important thing is that we stand on the side of truth and righteousness,” he stated.
He regretted that he was unable to formally reach out to the Muslim community during their celebrations but promised that the relationship between religious groups and the government would be strengthened once the current uncertainties are resolved.
He also assured the leaders that their pending requests would be addressed after the crisis subsides.
Urging patience and perseverance, Governor Fubara drew an analogy from religious history, saying, “If God could be patient with Noah to allow even the snail to enter the Ark, then patience remains an essential virtue in our struggle.”
He also cautioned against falling prey to those who want engineer violence by fanning provocative acts, warning his supporters and Rivers people to avoid certain elements who sought to destabilize the state.
“Their goal is to create problems and deny people their means of livelihood. We will not allow that. We will continue to operate peacefully and respect constitutional authority to ensure that our state remains a model for others in Nigeria,” he concluded.
Speaking earlier on behalf of the Muslim community, Alhaji Nasir Awhelebe Uhor, declared their solidarity with Governor Siminalayi Fubara, assuring him of their prayers and support as he navigates the state’s current political challenges.
Alhaji Uhor stated that the majority of Muslims in Rivers State stand with Governor Fubara due to his inclusive approach to governance and his recognition of the Islamic faith.
He noted that unlike the previous administration that declared Rivers a 100% Christian state, Governor Fubara, upon assuming office, acknowledged the state as Christian majority while allowing room for inclusiveness.
Encouraging the governor to remain steadfast, Uhor reminded him of the Islamic belief that Allah rewards patience.
He said the present challenges align with the teachings of Islam, where the Creator tests His people through wealth, power, and authority.
He further called on President Bola Tinubu to review the emergency rule in Rivers State and restore Governor Fubara’s full authority, emphasizing that the governor has been performing effectively despite the crisis.
During the visit, prayers were offered for suspended Governor Fubara, his family, Rivers State, and Nigeria as a whole.
The Alliance of Sahel States (AES) comprising junta-led Mali, Niger Republic, and Burkina Faso have imposed a 0.5 percent import duty on goods from the Economic Community of West African States (ECOWAS) member nations.
The move further strains relations between the three junta-led nations and the ECOWAS, which they withdrew from earlier this year following a series of military coups and economic sanctions.
The AES, which began as a security pact between the military rulers of the three countries in 2023, has now metamorphosed into an aspiring economic union with plans for biometric passports and closer economic and military ties.
In a joint statement last week, the AES said the levy aims to generate revenue to fund the alliance’s activities.
The tax, which came into effect on Friday, applies to all imports from ECOWAS countries, except humanitarian aid.
The taxes also disrupt the free trade once enjoyed by all countries in the West African region.
The economic implications could be severe, leading to higher consumer prices, supply chain disruptions, and strained regional economic stability.
While it may provide short-term revenue for the junta-led governments, it risks other long-term consequences, including weakened regional integration.
ECOWAS has maintained that it will keep diplomatic channels open with the junta-led states until July, despite announcing their permanent expulsion from the bloc earlier this year.