Consumers in panic buying as crisis rocks parts of Lagos state
By Oghale Mafuru
Following the crisis that rocked several areas within the Lagos metropolis on Friday morning which has further heightened fears over possible unrest as the general elections draw close, consumers flooded major supermarkets in town to stock up essential items ahead of the elections which kick of next weekend.
MARKETING EDGE intelligence report revealed that Friday night shoppers were seen in large numbers making what appeared to be their last-minute purchase before the election. Most of them had their trolleys filled to the brim.
Standing in long queues, some of the consumers sighed in despair, while others held discussions which were centred around the current state of the nation.
This reporter also observed that many consumers still encountered troubles with payments via both transfers and ATM cards.
Some of them who spoke to MARKETING EDGE said shopping in supermarkets was the only option available to them since there is cash scarcity.
“I don’t have any cash right now. I have been trying all day to get cash. Some PoS operators were giving the old naira notes. I refused to collect it. It is sad that one can’t buy anything elsewhere without cash. Most vendors out there insist on cash payments in new Naira notes. It’s sad”, so said Wale Adigun, a company executive and one of the shoppers.
Another shopper, a lady who preferred to be anonymous said, “You people should tell Buhari that we are suffering. People are hungry and angry. See how the people were rioting; and my continue to riot if the situation persists. Nigerians need help. This is too much!”.
It would be recalled that earlier today, major areas in Lagos were reported to have witnessed protests by persons purportedly aggrieved by the latest monetary policy on naira redesign which many say has plunged the country further into economic woes.
The protesters stormed Mile-12, Ketu, Ojota areas, along Ikorodu Road; and Iyana-Ipaja early this morning. The civil unrest extended to places like Agege, Ikorodu and other parts of Lagos state.
Many of the roadside sellers ran for dear life while most stores along the routes were shut.
It would also be recalled that protesters in Edo and Delta states had, in a fit of rage over cash scarcity, destroyed Automated Teller Machines, and outrightly set some banks on fire.
This development also got thousands of commuters stranded following transport workers’ rejection of the old naira notes.
Meanwhile, the Supreme Court had in an order restrained the implementation of the phase-out of the old naira notes following a suit by the governors of Kaduna, Kogi and Zamfara states.
However, President Buhari in a nationwide broadcast yesterday approved that only the old N200 note remains a legal tender with the new notes for 60 days.
He also directed the CBN to ensure that any institution or person(s) found to have impeded or sabotaged the implementation was made to bear the full weight of the law.
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