Sokoto Residents Struggle to Afford Basic Needs Amid Economic Hardship

On a serene Friday evening, Nafiu Sanni sat patiently in his spacious shop, located along a bustling route connecting to the Hajji Alimoh market in Sokoto State. At just 27 years old, the Sokoto native has established himself as a successful entrepreneur, managing a thriving foodstuffs business where he sells rice and cooking oils in both wholesale and retail quantities.

But on the day our reporter visited him, his facial expression revealed that things were not going well for him at the moment. “On a normal day, customers used to flourish in my shop but the reverse is the case now. The patronage has reduced drastically and it has affected my business and income,” he told Campus Reporter.

Sanni’s experience is as a result of Nigeria’s economic downturn. Since President Bola Tinubu announced the removal of fuel subsidies in May 2023, many families could not eat their favourite meal. Though the economic situation in Nigeria has always been challenging, things have in the last two years changed completely for those living below $1 per day. 

Also, various policies of the current administration have significantly increased the cost of living, making everyday life more difficult for Nigerians, especially those in lower-income brackets.

Sanni explained that before President Tinubu took over the affairs of the country, he was selling an average of ten bags of rice daily. Currently, he finds it difficult to sell five bags daily and this downturn extends to other goods in his shop.

“It has been a terrible moment for my family and me,” he said. “This current economy has deprived me of my responsibility as the breadwinner of the family.”

Inflation in Nigeria

According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate rose for the third straight month in November 2024, soaring to a near 30-year high of 34.6%, and up from 33.9% in the prior month. Food inflation surged to 39.93% in November – a sharp increase from 32.84% in November 2023, mainly due to higher prices of staple foods.

While Sokoto is known for its agricultural production and livestock farming, the state is facing an increasing inflation, driven by various factors, including food costs, fuel prices, and transportation.

During our visit to Sokoto’s historic old market, Campus Reporter met Ibrahim Bello, a Garri seller with over a decade of experience. He shared his distressing concerns about the significant losses he incurred in 2024, a phenomenon he had never encountered since starting his business. 

Bello attributed his struggles to two primary factors: the removal of the fuel subsidy and the exploitative practices of merchants who hoard goods to sell at exorbitant prices.

“These kinds of people will buy goods in low quantity, but they will prefer to hoard 50% out of it and wait until it adds money, and then give it out for sale,” he said.

Unlike before when Bello used to buy one sack of Garri for N15,000 from the merchant, now the situation has changed.  “A sack being sold for N15,000 then was far more profitable than the current situation,” he added. “Could you believe one sack is now N80,000?”

A beans seller, Ibrahim Kabiru at Maggi market also expressed his deep concern. “In the last few months, the price of a mudu of beans has jumped N5,000 but it used to be N2,500 per mudu around last October. I can’t even figure out the kind of strategy to use in order to equip my business, so that I will also have a profitable business.”

Economic expert speaks 

An economist and finance expert at the Usmanu Usmanu Danfodiyo University in Sokoto, Audu Bello, urged citizens to desist from tagging the removal of fuel subsidy as the major cause of skyrocketing of goods in the country.

Mr Bello highlighted three factors affecting economic hardship and purchasing reductions in Sokoto as distance, illegal smuggling to neighbouring countries, and typical nature of Sokoto indigene traders.

In terms of distance, he noted that there are some goods that are not produced in Sokoto. “This kind of goods will be expensive as the traders will have to shuttle for their own profit of transportation on it.” Mr Bello said.

Speaking on the way forward, he said “most of the goods that are imported to the country are by the government, and they sell them at cheaper rates in which rules are set for those who sell more than the prices given by the government.”

“However, if Nigeria can collide, and implore this system. It’s going to be favourable and end those private individuals who determine the prices to their life status,” said Mr Audu.