Days after the commencement of this year’s Ramadan fasting, the price of eggs has increased in Jos, the capital of Plateau State.
Our correspondent who visited the popular Yankaji market where eggs are sold in large quantities reports that prices of the community have shot up but demand for the commodity is still high.
Before the commencement of this year’s Ramadan fasting, sellers of the commodity say they sold a Crete of egg between N700 and N1000, But with the commencement of the fasting, the price of a crate has risen to N1800.
The sellers of the commodity attribute the sudden increase to the Ramadan fasting when many people especially Muslims utilize it more than any other period.
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Muhammad Abdullahi, egg seller in the market said: “before the Ramadan fasting started, there was naira scarcity, making the egg to be available. As a result of that, the price went down because there was no buyers. But close to the commencement of the fasting, people started getting money following the CBN directive to issue the old naira notes to customers, and the price suddenly shot up.”
Idris Auwal, another egg seller said: “Before the Ramadan fasting, the egg was available and the price dropped but people didn’t have money to buy. Now, the egg is not available and people are in need of it but the price has increased. An egg that was sold N30 is now N60.”
The chairman of the market, Sani Muhammad, said aside from the Ramadan fast, the recent release of old naira notes by the commercial banks also contributed to the price boost.
Stakeholders in the market are confident that price of the eggs will continue to increase even after fasting period if commercial banks keep releasing the old naira notes to their customers.
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