Beef Prices Soar: Nigerians Adapt to Smaller Portions

 

The economic challenges faced by Nigerians have led to changes in the availability and pricing of beef, a staple in their meals. Vanguard News reports that consumers are feeling the impact of the increasing prices of goods and services, including food items like beef, which has also decreased in quantity. As a result, many people have stopped patronizing food vendors. The report highlights that both restaurants and street food vendors have resorted to cutting beef into smaller pieces while maintaining the same cost. Previously, larger portions of beef were sold for prices ranging from N50 to N200, but now the same amount is diced into smaller pieces and sold at the same price.

The objective behind this strategy is to sustain their businesses and retain customers who still enjoy having beef with their meals. Mrs. Banks Smart, a food vendor, explains that she used to sell large portions of beef for N100, but now the same size costs N200 due to the high cost of meat and the decrease in quantity. As a result, vendors have started integrating the diced beef into the rice, selling the combination for N500 per portion instead of selling rice and meat separately. This adjustment reflects the challenging economic climate where the price of food items increases daily.

The rising prices of beef are corroborated by the National Bureau of Statistics (NBS), which reported a significant increase in the average price of 1 kilogram of boneless beef. According to the NBS Selected Food Prices Watch for March 2024, the average price rose by 73.78% on a year-on-year basis, from N2,479.61 in March 2023 to N4,309.16 in March 2024. On a month-on-month basis, the average price increased by 17.91% from N3,654.56 in February 2024.

These economic challenges have not only affected food vendors but also various sectors of the economy. The increase in beef prices is attributed to factors such as the high cost of meat, decreased supply, and rising transportation costs due to the increase in petrol prices. The situation has left vendors and consumers grappling with higher expenses and reduced purchasing power, highlighting the impact of the economic downturn on everyday life in Nigeria.

Big Men and Security Officials Involved in Oil Theft

According to a report by Vanguard on February 10, 2024.For many years, the crude oil cartel exploiting the country has hidden its identity so that no one knows who is really behind the powerful syndicate. People hear about foot soldiers and vessel captains/crews involved in unlawful oil bunkering getting arrested, but the true leaders behind oil theft in Nigeria are influential government and security officials who have avoided prosecution. 

In August 2022, spokesperson for former President Buhari promised the identities of important personalities financing oil theft would soon be revealed. However, when Buhari left office in May 2023, his government did not disclose any names.

Prominent Niger Delta leader Alhaji Mujahid Dokubo-Asari alleged in June 2023 that 99% of oil theft was traceable to the Nigerian Army and Navy. The Navy and Army dismissed these claims and challenged Dokubo to provide evidence.

A security expert said large sponsors of oil theft are involved along with top security officials, who protect oil thieves. The modus operandi includes command centers in Lagos and Abuja running the cartel.

Captured vessels like MT Kali and MT Harbor Spirit show innocent captains and crews were sent from Lagos by the cartel to load crude, unaware they would be sacrificed if caught. Security forces are now collaborating more against oil theft.

A Nigerian man celebrates receiving N36 million from Twitter through ads revenue sharing.

According to a report by Punch on September 2nd, 2023, a Nigerian man named Logik, with the Twitter handle #iamlogikk, expressed his joy after receiving a payment of N36,858,567 from the app ads revenue sharing program introduced by Elon Musk. Logik shared screenshots of the payment statistics on his Twitter page and captioned the post with "36m... God bless Elon Musk." This payment plan was initially launched in the United States of America in July and has recently been extended to verified global users with Twitter Blue subscribers. Additionally, a few Nigerian content creators on the microblogging app have also started receiving payments.

Copyright Commission arrests man for hacking into DSTV system,watching channels free without subscription

The Nigeria Copyright Commission (NCC), has arrested one Mr Aliu Olalekan, for allegedly hacking into DSTV system and watching the channels free without subscription.

Mr Matthew Ojo, NCC Director in the Lagos Directorate Office said this while speaking with newsmen in Lagos, on Tuesday.

He said that the suspect used to watch DSTV channels free without subscription on his Android phone via an app which he downloaded on google play store.

“This suspect distributed the know-how to his telegram followers and on his blog with the aim of gaining more followers and viewership on his blog and makes more money through google ad-sense.

“The operation was based on surveillance which had earlier been carried out by the Multi-choice team and verified by a copyright inspector, ” he said.

He added that the arrest was made in collaboration with a team of copyright inspectors led by the Head of Enforcement Department, Mr Charles Amudipe.

Others included; a team from Multichoice Nigeria led by Mr Umar Ibrahim and policemen from Lagos Command Headquarters, Ikeja.

Ojo said that the joint team conducted an anti-piracy operation at the premises of the culprit in Amukoko, Lagos.

According to him, the suspect was contacted on phone by a member of the operation team on the disguise of patronising him.

“The suspect came out to meet the caller and in the process of discussion, he was apprehended.

“The suspect took the team to his resident. The squad paraded his one-room apartment and recovered his laptop and phones used in perpetrating the ungodly act. “He was arrested and brought to the copyright commission office for further investigation, ” he said.

Ojo said that, on getting to the commission’s office, the statement of the suspect was taken and the inventory of items seized from him taken.

He said that investigation on the matter was still ongoing and if found guilty the suspect will be charged to court.

Source: vanguardngr.com