Fuel costs drive food inflation as Lagos traders, shoppers struggle

Alhaji Abiodun Kosoko blamed rising fuel prices for increasing food costs, complicating the situation for traders in Lagos. Although markets still attract crowds, purchasing power has significantly weakened, leaving many traders with unsold goods. Kosoko urged the Federal Government to intervene through fuel subsidies to stabilize prices. For instance, a bag of rice that previously sold for ₦50,000 now costs between ₦56,000 and ₦58,000.