Abuja, Sept. 29, 2024 (NAN) — Restaurant owners in the Federal Capital Territory (FCT) are urging the Federal Government to tackle the rising fuel costs that are severely impacting their businesses. During interviews with the News Agency of Nigeria (NAN) on Sunday, several restaurant owners expressed concern over the direct correlation between fuel price hikes and increased food prices, which have surged by up to 50% in recent months.
Thank you for reading this post, don't forget to subscribe!Madam Judith Akor, a local restaurant owner, reported that the price of her food has increased significantly: “Two months ago, a plate of food cost N500, but now it ranges from N800 to N900, depending on what’s being served.” She added that a decline in customer patronage has resulted in diminished income, making it difficult for her to sustain her business.
Deborah John emphasized the critical role local restaurants play in communities, noting that they are struggling with rising operational costs due to fuel hikes: “The fuel increase has escalated our costs for transportation, food items, cooking gas, and even charcoal.” She called on the government to address the issue by upgrading storage facilities and repairing refineries.
Another restaurant owner, Ngozi Eze, echoed similar sentiments, stating, “Three months ago, I sold a plate of rice for N500, but now it costs N1,000.” She expressed her frustration over the situation, pleading with the government to alleviate the burden on ordinary citizens. “We are suffering, and if the government could address this, it would benefit everyone,” she said.
Likita Faith, also in the restaurant business, mentioned that she had to raise her prices by 10% to 15% to remain viable. She noted that some customers are opting for smaller portions or meals without meat to manage their budgets. “We are adjusting our staffing and operational hours,” she said, stressing their commitment to maintaining food quality while navigating these challenges.
According to the latest data from the National Bureau of Statistics (NBS), food prices saw a significant rise in August 2024, particularly in staples such as beans, yam, garri, onions, rice, and eggs . This trend highlights the pressing need for government intervention to stabilize fuel prices and, consequently, food costs for the average Nigerian.
