Posted 3/30/2024, 11:41:21 PM
High Prices Dampen Easter Celebrations for Struggling Nigerian Families
- Prices of goods remain high in Nigeria despite interventions to strengthen the naira, making Easter celebrations difficult for families
- A pastor and father of 4 cannot afford to buy his family new clothes or make special meals as he normally would for Easter
- A fish seller says the Easter market is unusually empty, with fewer people buying compared to previous years
- Traders in Abuja, Ogun, and Lagos markets say prices of basic food items like rice, yam, fish, and frozen chicken have gone up in recent weeks
- Economists say there is a lag time between currency policy changes and seeing their effect on market prices, and human behavior causes stickiness in prices coming down