I was screaming when I went to the supermarket yesterday due to high cost of goods- Professor Udenta O. Udenta

Professor Udenta O. Udenta, the founding National Secretary of the Alliance For Democracy, has expressed deep concern about the rise in food prices in Nigeria. During an interview on AIT, he said that the removal of subsidies has had a significant impact on food prices, and if not managed properly, these effects will have far-reaching consequences.

According to Professor Udenta, the subsidy removal has led to a substantial increase in the cost of food and other essential commodities. He believes that if the government does not handle this situation carefully, its repercussions will be felt across various sectors of society. The effects, he suggests, will extend to transportation, education, and the prices of basic goods, among other things. Professor Udenta also pointed out the potential threat to food security and the ability of people to afford rent.

In his own words, he stressed the personal experience of witnessing price hikes firsthand during a recent visit to a supermarket. The prices of items he had purchased just a few days earlier had increased significantly. He expressed the urgency for the government to monitor and manage this situation closely to prevent further escalation in the cost of living for the Nigerian people. Professor Udenta’s remarks underline the profound economic and social consequences of subsidy removal on the lives of ordinary citizens in Nigeria. He stresses the need for the government to address this issue carefully to mitigate its wide-ranging impact on various aspects of society, including affordability, food security, and overall living standards.

“If the subsidy is handled in a way that impacts negatively on the lives of the people, the effects is going to ricochet across board. From transportation to education, to prices of stable goods and so on. Food security will be affected, ability to pay rent is affected, every single thing escalates. I was screaming when I went to the supermarket yesterday. The 5 things I bought 3-4 days back have added close to ₦300, ₦400 and ₦500 naira so the government must be watchful of that.”

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