When the hardship in Nigeria began, iBrand had advised families to adopt bulk buying as one way to cushion the effect.
Now, Nigerians are seeing the need to adopt this as a way to cope with rising food costs amidst soaring inflation.
As prices of staples like rice and beans climb, many residents in Nigeria are embracing bulk buying to save money and ensure their tables remain full.
By pooling resources with friends and seeking discounts from distant markets, they’re discovering that working together can make a difference during tough times.
In the heart of Lagos, families are navigating the challenges of rising food costs due to soaring inflation.
As prices of essential items continue to climb, residents are finding innovative ways to keep their kitchens stocked and their budgets balanced.
In September, inflation in Nigeria rose to 32.70 per cent, impacting food prices significantly.
The food inflation rate reached 37.77 per cent, driven by increases in staples like rice, maize, beans, and yam.
This situation has pushed many consumers to rethink their shopping strategies.
Initiating The Best Option
Mrs. Iyabo Adebayo, a civil servant and mother of three, shared her approach to combating these rising costs.
“Buying in bulk is the best option during this period of food inflation,” she explained.
By pooling resources with friends and colleagues, Adebayo is able to buy larger quantities at a lower cost.
“When we have enough money collected, we go to the market together,” she said.
Adebayo recently purchased items like beans, stockfish, and cassava flakes in bulk.
She emphasised how these bulk purchases provide better prices compared to retail.
Sometimes, she and her friends even source products from outside Lagos to find greater discounts.
“We bought honey beans from the North for N8,250 per bucket, while in Lagos, it costs up to N12,000,” she noted.
For Mrs. Nkeiruka Chinemeze, a mother of four, the rising food prices have created a sense of urgency.
“The hike in prices is worrisome,” she said.
To manage her limited funds, Chinemeze also turned to bulk buying.
“It allows me to purchase more at a lower cost,” she explained, encouraging other women to adopt this strategy.
“It saves time and money, reducing the stress of frequent market trips.”
Nigerians Call For Government Action
Amidst these challenges, some citizens are calling for government intervention.
Read Also; Food Inflation Stays High Even As Overall Prices Ease – NBS
Mr. James Osoka, a businessman, urged officials to take action against the food crisis.
“The government needs to control food prices to help the people,” he stated.
Osoka praised recent efforts, such as the sale of 50kg bags of rice to civil servants at N40,000 but believes more needs to be done.
“We also contribute money to buy food in bulk from the North or East.
“This helps reduce costs and ensures our children don’t go hungry,” he added.
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Mrs. Esther Umeileka, a wholesaler and Managing Director of Fresh2Home Ltd., highlighted the increasing demand for bulk buying.
“I’ve been in this business since 2002 to connect producers with consumers,” she explained.
Umeileka noted that bulk buying benefits everyone, providing better value and quality.
“Even those with limited budgets can buy in bulk by teaming up with others,” she advised.
Umeileka encourages Nigerians to manage their resources wisely and to explore homemade options to stretch their budgets further.
As food prices continue to rise, the people of Lagos are proving their resilience.
By embracing bulk buying and working together, families are finding ways to navigate these challenging times while ensuring they have enough food on their tables.
