Prices of wheat and other food goods in Katsina State have plummeted as the present cash shortage continues to hit.
According to the News Agency of Nigeria, maize, guinea corn, millet, and beans are now less expensive than they were three weeks ago.
A grain vendor, Alhaji Haruna Abdullahi, told NAN that a bag of maize currently costs roughly N19,000 in most markets as opposed to the previous N24,000 pricing.
The cost of a bag of guinea corn has decreased from N18,000 to N14,000, depending on quality.
According to him, big marketplaces like Dandume, Bakori, Danja, and other grain-producing regions have even lower food item prices.
Malam Nasir Isa, another trader, told NAN that a bag of millet that was once sold for N24,000 is now N20,000.
In comparison to the previous pricing, which ranged from N34,000 to N36,000 depending on quality, he noted that a bag of beans currently costs between N28,000 and N30,000.
Isa pointed out, however, that most grain farmers would not accept customer electronic currency transactions. The few who accept cash transfers charge higher prices for the grains. According to him, a cash transfer will cost N23,000 and up if a bag of grains costs N20,000 in cash.
Despite the price reductions, grain vendors lamented the limited customer traffic because it was difficult for customers to obtain money from banks and PoS providers.
Residents who talked with NAN urged the government to act quickly to ease the pain associated with cash shortages.
Malam Ibrahim Adam claimed that he had been attempting to withdraw cash but had been unable to do so due to the lengthy lines at the town’s few PoS locations and ATMs.
In order to alleviate suffering among the populace and advance socioeconomic activity, he encouraged the government to step up efforts to make the new naira notes available.
