Majority forecasts festive season price hikes

Basic commodityFrom OKORO CHINEDU in Lagos, Nigeria

LAGOS, (CAJ News) -A MAJORITY of Nigerians anticipate a general rise inprices of some basic commodities and service during the festive season.

This is according to findings from a recent poll suggesting 60 percent ofNigerian anticipate an increase in the price of food.Some 22 percent anticipate an increase in transport costs while 15 percent forecast increases in the price of clothes.

A mere 1 percent anticipates the fuel price will rise.NOIPolls, the regional research firm, conducted the opinion poll in theweek beginning December 14.

Results have been released on Tuesday. It involved telephone interviews ofa random nationwide sample. 1,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in thecountry, were interviewed.

Meanwhile, according to the poll, most Nigerians (57 percent) have statedthat they will be ‘staying at home to relax’ during the end of year festivities, whereas 27 percent confirmed that they ‘will be travelling’during the period.A higher proportion of Nigerians (38 percent) have revealed the currentstate of the economy ‘will minimize their end of year spending’, while 35percent stated that ‘it will increase their end of year spending’ (35percent) amongst other effects.

Nonetheless, Nigerians wish one another ‘peace & prosperity’ (31 percent),‘Merry Christmas & Happy New Year in advance’ (16 percent) amongst otherfestive compliments. – CAJ News

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Posted by on Dec 22 2015. Filed under Africa & World, Featured, Finance, National, News, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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