Ramadan Fast: Activities, Prices Yet Stable in Lagos Markets

Contrary to general expectations that the commencement of the Ramadan fast will trigger a rise in prices and a decrease in market activities, M2 survey of some major markets around Lagos last week revealed that prices and activities are yet stable.
At the popular Mile 12 market, Mr. Amadi Ukoji, a trader, said that prices have not changed from what they were before the fast commenced. He said, “Prices are still what they were last week and activities are still normal.” At Ogba market, another trader, Mrs. Ojo said that she restocked shortly before the fast commenced and still sells her goods at the same price she bought them, adding, “With the bad economy it doesn’t make any sense to fix prices that customers can’t afford all because of season.”
Miss Shukurat at Ojuwoye market and Mrs. Onyejiekwe at Iyana-Ipaja market spoke in the same line, saying they are yet to notice any difference in market activities as sales in recent times have been slow even before the fast commenced. Mrs. Onyejiekwe went further to say, “We try to fix the best possible prices just to encourage buyers.”
At Mile 12, an Irish potato seller, Mallam Abduqadri maintains that the N3, 000 naira price for quarter of a bag is not because of the fast, explaining that as the potato gets drier the price increases. However, both Mr. Amadi and Mrs.. Ojo agree that the fast will eventually influence prices and affect activities.