Residents of Owerri and its environs in Imo State are lamenting the recent hike in fuel prices, which has led to a surge in the cost of living.
The price of premium motor spirit (PMS) has skyrocketed to N970 per liter in some petrol stations and N1,000 per liter in others.
Most filling stations along Egbu and Port Harcourt roads are selling for N1,000 per liter, while Black Market operators sell between N1,300 to N1,500 per liter.
The hike has resulted in fewer cars on the roads, as most private car owners opt for public transport due to the exorbitant cost.
Transportation costs have also increased by over 100 percent, further exacerbating the situation.
No reason has been given for the sudden hike in fuel prices, which was previously sold for between N750 to N850 per liter in the state capital.
An Owerri based businessman, Mr. Ned Njoku expressed his frustration, stating, “It is very expensive.
“I spend over N40,000 a week to fuel my two vehicles when the product was sold for N860 per liter.
“Now, it is up to N1,000, it is impossible for me to do so.”he said.
The hike has also affected the cost of living, with a massive surge in prices of food items in major markets.
A visit to Relief Market and Eke Ukwu Owerre Market by INNONEWS revealed that prices of commodities and food items remain high.
Prices of rice, beans, yam, bread, and stockfish have increased significantly, making it difficult for residents to afford it and other basic necessities.
A bag of rice now sells for between N75,000 and N78,000, up from N70,000, while a painter of rice has surged to N7,500 from N6,000.
Beans have also increased in price from N7,000 to N8,000 for one painter, while a tuber of yam now sells for N4,000 or N3,500 depending on the size, up from N2,500.
A family size loaf of bread has increased in price from N1,200 to N1,700, further stretching the pockets of residents.
The smallest size of stockfish sells for N1,000, while the biggest size sells for N7,000.
A Civil servant, Ernest Ibe lamented to this newspaper that he has had to cut down on meals for his family due to the high prices of food items.
“I can’t afford three meals a day in my home. Because if we eat three meals, we may go hungry in some days.
“Government is paying lip service to the suffering of the people, and this is not acceptable,” Ibe said.
An Onion seller at Eneukwu Owerre market, Grace Igwe complained that business is bad due to the high cost of transportation.
“Business is bad. One bulb of onion is N100.
“This was not so in the past, and the price is on the rise because of cost of transportation,” She said.
A Provision shop owner, Kemdi Onuoha attributed the high food prices to the cost of transportation, which has increased since fuel subsidy was removed by President Bola Tinubu.
“Since fuel subsidy was removed, business has not been the same.
“Cost of transportation has eaten deep into our profits from our business,” Onuoha said.
Onuoha suggested that the Imo State government should set up a Commodity Board to check prices of goods and food items in the State.
“The Imo State government should set up a Commodity Board, to check the prices of goods and food items in the State,” Onuoha said.
Last year, Governor Hope Uzodimma promised to set up a Commodity Board and Cluster markets in the 27 local government areas to checkmate food prices, but it is yet to be constituted.