The Bakin Dogo food market in Kaduna State‘s Kaduna North Local Government Area has been thrown into chaos as the price of yams has skyrocketed to unprecedented levels. A shocking 100 tubers of yam now cost a staggering ₦1 million at wholesale, leaving traders and consumers reeling.
According to TheSun, Retailers like Alhaji Abubakar are struggling to recoup their investment, let alone make a profit, due to the unaffordable prices. “We’re in big trouble,” he lamented. “I’ve never seen a market like this in decades. The price of one Koriya (100 pieces) of big old yam is ₦1 million. More than half of the last ones I bought are still unsold because people are unwilling to buy even one yam for more than ₦9,000.”
The situation is further complicated by the arrival of new yams, which are being sold at a competitive price of ₦4,000 to ₦4,500 per unit. According to Muhammed, another retailer, this poses a significant threat to those who still have old yams in stock. “I sell 10 pieces of new yam (medium) for ₦14,500,” he explained. “It’s equivalent to the price of old yams.”
The scarcity of yams can be attributed to the inability of many dealers to venture into remote villages due to escalating insecurity in the country. Available supplies are also being purchased for onward transportation to neighboring countries like Niger and Ghana.
Consumers are finding it increasingly difficult to afford the high prices. One prospective buyer expressed frustration, saying: “I was previously willing to pay ₦3,000 for the same size yam. But now they’re asking me to pay ₦9,000 for an old yam and ₦4,000 for a new one. I don’t want to buy new yams because they spoil easily. Meanwhile, one tier of garri costs ₦1,400. Why should I spend my scarce money on just one yam that we’ll only boil and eat once?”
The crisis has left both traders and consumers struggling to make ends meet, with many wondering what lies ahead for the market and the economy as a whole.
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