Some FCT residents say economic recession will affect Christmas preparations
The poor performance of the Nigerian economy is going to prevent many Nigerians from celebrating the Christmas season the way they would like to, some Abuja residents have said.
The residents made this known in separate interviews with the News Agency of Nigeria (NAN) on Tuesday.
NAN reports that the present economic recession in the country is biting hard on most families, especially the low-income earners as well as other Nigerians as they could no longer make ends meet.
Jude Baco, a pensioner, said that he was disappointed at the high rate of inflation in the country which has made it harder for him to purchase things he needs.
“I love the Christmas season because it is when my family comes together to bond and celebrate the end of another year.
“I receive my pension without trouble, but I get frustrated when I want to buy something and realise the price has been inflated again.
“That means that by Christmas, commodities that are in high demands during the celebratory season will be twice their current price.
“Some commodities and many services in Abuja are known to be more expensive than those in other states and this can cause my family to reconsider their visits to save expenses.”
Imelda Attang, a civil servant said that she would not be celebrating Christmas the way she would like due to the high rate of inflation.
“The high inflation rate is terrible right now and it looks like commodity prices increase every two weeks.
“Normally, I travel to my home town every two years to see family members and I always go with gifts.
“I couldn’t go last year because the economy was not favourable and I thought things would be better this year, but I was very wrong.
“I will not be able to see them again this year and all I can do is to send money to them which will be less than what I used to send.
“It is sad that prices of things are doubling while income is stagnant,” she said.
Anu Akinyemi, a trader said that traders and suppliers of celebratory commodities were fearful of a possible loss due to poor demand.
“Most of us traders purchase seasonal products early so that we can meet early demand.
“That means that anyone who deals with hampers, Christmas decorations and other Christmas season items already has them stored and prepared for the market at the right time.
“The problem now is that we expected a specific range for demand but it seems that demand will be much less than expected.
“This will cause traders to suffer loss and that is bad for our business
“Poor performance of the Nigerian economy has caused many people to seriously cut down on their spending and that is affecting my source of income.
