Ekiti traders decry rising cost of goods, seek government intervention

Traders in Ekiti State are sounding the alarm over the relentless increase in the cost of goods, which is severely impacting their businesses and livelihoods. They are appealing to all levels of government for immediate intervention to ease the economic burden. The traders highlighted that persistent price hikes are largely driven by escalating transportation costs and the consequences of the fuel subsidy removal. Mr. Olaniyi Ayodele, a boutique operator, acknowledged the state government's efforts to support local businesses but stressed the need for more substantial interventions. He noted that the current economic climate has forced consumers to alter their spending habits, often shopping closer to home to save on travel expenses. Mrs. Tayo Ibidun, another trader, observed that items once affordable are now significantly more expensive, affecting sales volumes. The traders reported a noticeable decline in market patronage compared to previous years, leading to reduced turnover. They are calling for palliatives, soft loans, and transportation support from the government and relevant stakeholders to stimulate commercial activity and mitigate the hardship.

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The continuous increase in the prices of goods and commodities is becoming a major concern. High transportation costs and the impact of the fuel subsidy removal have made it increasingly difficult for both business owners and consumers.