Not all gloom as Nigerians mark yuletide with funfair

This time last year, the atmosphere did not reflect the joy and glamour of the festive season as many Nigerians then, celebrated the yuletide in low key.

Then, they battled high prices of food items, courtesy of the soaring inflation, low purchasing power due to the pressing economic hardship, outrageous transportation fares, uncertainty of fuel availability, among other challenges. But there is a big reverse this year.

From stable prices of food items, especially rice, to minimal hike in prices, and to the availability of premium motor spirit (petrol), breaking the jinx of fuel scarcity during festive season for a second year running, there is a visible respite for the people.

Unlike last year, this year’s festive season has a bit of pomp and ceremony as more Nigerians marked Christmas with funfair and more to eat and drink.

“The continued decline in the inflation rate has put more money in the hands of Nigerians, allowing them to spend more this year than last year,” Olakunle Adigun, a banker, said.

The father of four confessed being able to afford a three-day stay at a Lagos beach resort, while also sending Christmas packages to more loved ones this year than last year.

“Though we are not out of the wood yet, I think the economy is rebounding a bit and that has enabled more people to spend more this festive season,” he noted.

Stephanie Olagoke, a senior staff with a leading domestic airline, noted that all the domestic airlines have increased their fares, frequencies, some with capacity have also increased their fleets, while shifts are tighter now due to the incredible number of passengers.

“I must confess, over N500,000 ticket is expensive. The fares have been increasing everyday this festive season, but the passengers are paying due to insecurity, bad roads and also because there is more money now than last year,” she said, noting that Nigerians are beginning to regain their swagger eroded by the impact of the Bola Tinubu’s reforms in the 2023 and 2024 festive seasons.

As well, Emeka Asonye, an auto dealer and importer, observed that more people are travelling this festive season than last year, despite the high fare.

“I am flying with my family of five and two elderly relatives to Enugu on December 29th against the New Year. But I couldn’t do this last year because there was no money,” the auto dealer, who confessed high patronage in the last quarter of the year, especially the first two weeks in December, said.

“This year’s is better. People had more money and spent more. You can see that with the many cleared containers at the ports and offloaded cars; there are more passengers at Lagos and Abuja airports this year. My friend, who dropped off his family at God Is Good terminal in Abuja, said that there were more passengers willing to pay more, but no bus.”

At motor parks across major cities of the country, the beehive of passengers tells the story better, as well as pointing to the respite in the economy.

After doing a bit of headcount of passengers at the Jibowu terminals of most transport companies in Lagos, Afam Ezeokoye, a lawyer, who came to send parcels across to a relative in Awka, Anambra State, marvelled at the mammoth crowd, and was further shocked at the money the transporters realised from a single bus.

“You mean N60,000 per passenger and people are queueing to pay. I know that airfare is out of the reach of many, but road transportation is becoming out of reach, yet more are paying. I think, there is more to spend now than last year because if these people don’t have money, they will forget travel and send money or parcels as I have done,” the lawyer said.

Iya Ijesha, a middle-aged woman, who deals on turkey and chicken at Bodija Market, Ibadan, confessed that patronage surprisingly soared as her son kept rushing to a poultry at Iseyin to replenish supplies.

Tailors are also seeing sustained patronage this year than last year.

Taiwo Amusan, a tailor, noted that patronage soared beyond the usually Aso-Ebi dress this festive season.

“People went out of their way to sew new and well-designed clothes this festive season. I don’t mean Aso-Ebi materials, expensive lace. Last year, I was collecting materials from customers all through because of less patronage. But I stopped collecting materials first week in November this year,” he said.

Boutique shops also make a kill as people, especially the Gen Z, updated their wardrobes to look trendy for the season.

Also, businesses in Aba, the commercial hub of the South-East, have been smiling to the bank this festive season as they confessed of more patronage than last year.

“We are excited that more customers came, even the old ones returned and made more purchases for the yuletide,” Chinwe Ifekandu, a fabric dealer, said.

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He attributed the development to the relative stability in foreign exchange and declining inflation rate.

Meanwhile, BusinessDay’s surveys at some markets in Aba, like Ahia Óhûrû, Eziukwu and Ngwa Road, revealed that prices of some food items dropped, while others, especially the perishables increased slightly compared with what was obtainable last year.

A sizeable tuber of yam, which cost about ₦800 last year is currently ₦1,300 and above. A bottle of palm oil, sold at ₦1,500 in 2024, is now ₦1,700, while a sizeable chicken cost between ₦27,000 upwards while the old layer is around ₦17, 000.

Ogechi Azubuike, a trader at Ahia Ohuru Market, attributed the increase in price to the high cost of feeds, which was sold at ₦19,000 last year, but now ₦26,000 per bag.

Apart from rice and beans that dropped in price, items like ginger, turmeric, garlic, onions, tomatoes, and pepper have significantly increased, due to their rising export value, Ogechi Anamuwa, managing director, Debs Foods and Treats, noted.

Anamuwa said that the trend highlights the growing demand for these essential commodities in the international market.

She linked drop in prices of some commodities to seasonal agricultural cycles, noting that onset of harvest in some parts of the country usually leads to a temporary surplus of grains and vegetables.

But Maduabuchi Ike, a poultry farmer, wondered why people should experience such economic hardship during festive periods and urged the governments to ensure fair trade practices and prevent price hikes.

He also suggested that the government should invest in agricultural infrastructure as well as support smallholder farmers through affordable credit and inputs.

The reality for many is that things have started looking up and not all gloom as Nigerians are stepping out to celebrate now than in the previous two seasons.

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