Wednesday, January 18, 2012

Consumers Fret Over Increasing Market Prices, Reversal

This Day
18 January 2012

Nigerians have heaved sighs of relief after the Federal Government pegged the price of premium motor spirit (PMS) to N97, following days of brainstorming between the government and representatives of the organised labour.

However, consumers are fretting over if the hike in price of commodities caused by the sudden change in the price of petroleum products would be regularised.

Until Monday afternoon when the strike was called off, prices of commodities and services in the market were still over 100 per cent higher than what it used to be, with consumers complaining of undergoing terrible experiences.

For instance, as at the time of filling in this report, barbing that was initially at N200 per head for adult, has risen to between N350 and N500; transportation has attracted a 100 per cent increase, while prices of food items and other things have also jacked up.

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