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Amid recession, Christmas beckons

12/12/2016 12:48:00 pm GIVERS FORUM 16 Comments

On Friday, December 9th, only 17 days to the 2016 Christmas celebration, Mrs. Dolapo Iluyomade, an assorted fabric dealer, sat still at the entrance of her shop, in the Balogun Area of Lagos State, with forlorn looks.

Hitherto, it is the time of the year that she and her colleagues in the business are usually so busy that they have their meals in between attending to a battery of customers, who are in search of apparels to adorn during the Yuletide.

From the earlier part of the year, Iluyomade suspected that the year could end on a tough note, but never anticipated that it would be this bad.



“A few weeks to this year’s Easter celebration, I suspected that we would have a dull Christmas in terms of sale of clothing, but I never knew it would get this bad. Usually, ahead of the Christmas, I would restock with over N10m in order to give my customers a lot to pick from. This year, since there was no money in the first instance, I could only bring in new fabrics worth less than N3m. I am yet to sell goods worth N300, 000 from that consignment,” she lamented.

“I have taken time to call some of my longstanding customers asking them when they would come around to shop, most of them say they won’t do that this year, while the few that say they may still come around are quick to add that they were focusing on food and drinks for the time being.”

Iluyomade’s neighbour got ingenious and decided to create a little space in her shop to stock Christmas decorations, as she anticipated to make brisk sales.

“They are practically the way I stacked them three months ago. Apart from a few children coming around to buy fireworks, Christmas trees and other floral decorations are scarcely being bought,” she said.

Not long ago, the National Bureau of Statistics (NBS) revealed that the Nigerian economy has recorded two consecutive quarters of economic contraction.

According to it, in Q1 2016, the GDP growth was negative (-0.36 per cent). The Q2 2016 data reflects even a larger contraction, which was -2.06 per cent. The worst was yet to come as the GDP in the third quarter shrank badly to 2.24, thereby worsening the chances of the country getting out of the economic recession this year.

Further bad news from the agency have it that the rate of price inflation for the months of September and October 2016 were 17.9 per cent and 18.3 per cent, respectively, while official statistics also indicated that the country’s unemployment rate increased to 12.1 per cent and 13.3 per cent during the first and second quarters of 2016.

With the above scenario in place, except for those literate in economic matters, not many families understood the import of the figures beyond the fact that the times ahead promise to be very tough. But as the year wore on, and things as basic as feeding became major issues in many households, the gravity of the hard times became glaring.

For many, Christmas is a time they pull all stops to give their families, and loved ones a great treat. Since doing so comes with commensurate financial commitment, it is definitely not the best of times to operate on a shoe-string budget.Sadly, that is the situation that most families have found themselves, as they prepare to mark Christmas, with nearly empty pockets.

Across different markets and sundry shopping locations in Lagos State, the cost of must-buy items for the period have sky-rocketed, leaving the average family desolate in this austere times.

According to Mrs. Amarachi Onyeka, Nigerians are experiencing serious financial difficulties this year, and there exists a huge gap between last year’s celebration and this year’s, with the distinguishing factor being the glaring paucity of funds.

Onyeka, a housewife, revealed that she is yet to carry out Christmas shopping for her family as her business has gone down, while prices of goods and services have gone up in the market.

“By this time last year, I had already bought everything for my children. Now I am just hoping I will still be able to do that because of the hard times we have found ourselves,” Onyeka said.A trader, Mrs. Rosemary Odukwe, remarked that she and her family are only surviving by the grace of God. So, since we haven’t bought food, we can’t be thinking of clothes for Christmas,” she said.

HIKE in fare for inter-state travels, is another source of concern for those, who intend to spend the season with their relatives in the village.

At Ifesinachi Motor Park in Jibowu, some passengers told The Guardian that the situation was worrisome and unfortunate.One of the passengers, Mr. Sylvester Okafor, who paid N5, 000 to Port Harcourt, Rivers State, as against the previous N3, 500, 000 said: “The government is not being fair to Nigerians because it is not right for things like this to be happening in an oil producing nation. I resorted to travel now with my family members because if I wait till next week, the fare would definitely jump.

At the Young Shall Grow Motors Park in Oshodi, another passenger, Mrs. Theresa Dike regretted that: “During Christmas, the poor masses suffer untold hardship because of our leaders’ lack of quality leadership. Before now, I used to pay N3, 000 from Lagos to Kogi State, but today I am paying N4, 500”


Mrs. Lucy Olajumoke, who urged the Federal Government to find solution to the biting economic recession plaguing the nation, lamented the fact that she paid N5, 500 from Lagos to Abuja, as against the N4, 500, which she used to pay.

A coordinator at Ifesinachi Transport, who spoke on condition of anonymity said, “because of recession commercial transporters have restrained themselves from hiking fare arbitrarily because even the turnout of passengers is low. I would encourage passengers to travel now because after this week, the fare would increase because of rush.

“When there is high number of passengers traveling out of Lagos, the development would trigger fare increase because when we drop them at their destinations, we return to Lagos with empty vehicles, hence we also raise the fare.” At the Peace Mass Transit Park, in Ojuelegba, The Guardian gathered that the fare from Lagos to Enugu State had jumped from N4, 500 to N5, 500 while Lagos to Port Harcourt now costs N5, 000 as against N4, 500 previously.


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