* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, September 16, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

    From Spinal Tap II to Ed Sheeran : your complete entertainment guide to the week ahead – The Guardian

    Fall’s Hottest Ski Films Are Going on Tour—Here’s the List – yahoo.com

    Experience the Thrill: Fall’s Hottest Ski Films Hit the Road-Don’t Miss the Tour!

    Ryan Reynolds reveals he called a journalist who said mean things about John Candy – yahoo.com

    Ryan Reynolds Reveals the Moment He Stood Up to a Journalist Who Insulted John Candy

    Entertainment Community Fund Launches Program Supporting Entrepreneurs – Playbill

    Entertainment Community Fund Unveils Exciting New Program to Empower Entrepreneurs

    Behind the turntables: DJ Johnny Kage’s story of perseverance – yahoo.com

    Behind the Turntables: DJ Johnny Kage’s Inspiring Journey of Perseverance

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Unlocking AI Success: How People, Process, and Technology Form the Ultimate Triangle

    Billion-dollar coffins? New technology could make oceans transparent and Aukus submarines vulnerable – The Guardian

    Billion-Dollar Coffins? How New Technology Could Make Oceans Transparent and Expose Submarines

    What if artificial intelligence is just a “normal” technology? – The Economist

    What if artificial intelligence is just a “normal” technology? – The Economist

    Lincoln Trail College Receives $100,000 Grant from Marathon Petroleum Corporation for Technology Center – wwbl.com

    Lincoln Trail College Lands $100,000 Grant from Marathon Petroleum to Elevate Technology Center

    Aston Martin to integrate Pirelli’s cyber tyre technology in future models – Just Auto

    Aston Martin to Revolutionize Future Models with Pirelli’s Cutting-Edge Cyber Tyre Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

    The Emmys Return with a Bang: Viewership Hits a 4-Year High

    From Spinal Tap II to Ed Sheeran : your complete entertainment guide to the week ahead – The Guardian

    Fall’s Hottest Ski Films Are Going on Tour—Here’s the List – yahoo.com

    Experience the Thrill: Fall’s Hottest Ski Films Hit the Road-Don’t Miss the Tour!

    Ryan Reynolds reveals he called a journalist who said mean things about John Candy – yahoo.com

    Ryan Reynolds Reveals the Moment He Stood Up to a Journalist Who Insulted John Candy

    Entertainment Community Fund Launches Program Supporting Entrepreneurs – Playbill

    Entertainment Community Fund Unveils Exciting New Program to Empower Entrepreneurs

    Behind the turntables: DJ Johnny Kage’s story of perseverance – yahoo.com

    Behind the Turntables: DJ Johnny Kage’s Inspiring Journey of Perseverance

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

    Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

    Unlocking AI Success: How People, Process, and Technology Form the Ultimate Triangle

    Billion-dollar coffins? New technology could make oceans transparent and Aukus submarines vulnerable – The Guardian

    Billion-Dollar Coffins? How New Technology Could Make Oceans Transparent and Expose Submarines

    What if artificial intelligence is just a “normal” technology? – The Economist

    What if artificial intelligence is just a “normal” technology? – The Economist

    Lincoln Trail College Receives $100,000 Grant from Marathon Petroleum Corporation for Technology Center – wwbl.com

    Lincoln Trail College Lands $100,000 Grant from Marathon Petroleum to Elevate Technology Center

    Aston Martin to integrate Pirelli’s cyber tyre technology in future models – Just Auto

    Aston Martin to Revolutionize Future Models with Pirelli’s Cutting-Edge Cyber Tyre Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Nigerians feeling the pinch: “Shrinkflation” shrinks wallets

July 22, 2024
in Business
Nigerians feeling the pinch: “Shrinkflation” shrinks wallets
Share on FacebookShare on Twitter

Have you ever reached for your favourite garri for eba, ready for a delicious meal, only to find there’s less inside? That’s shrinkflation at work. It is like a clever thief shrinking the amount of food you get without raising the price. While it might seem like a small thing, it’s a big problem for Nigerians already struggling with high costs. “Shrinkflation” means you get less garri, beans, or whatever you need for your next meal, making it even harder to stretch your money and feed your family. This small change adds up to a big burden for many Nigerians.

The price of food in Nigeria is very high. One yam now costs N6,500! Beans are also expensive, with a small bag costing N140,000. Rice is even more expensive, with a long-grain bag costing N80,000. Even meat like chicken and turkey is becoming too expensive for many people. This means Nigerians are getting less food for their money, which is making them worried.

Read also: Shrinkflation 201: Shrinking sizes, soaring prices, and the struggle for survival

In all its ramifications, this is not just a problem for the wealthy. Average Nigerians, who once relied on buying in bulk to save, are hit hardest. Their hard-earned salaries can’t keep pace with the shrinking sizes and rising prices, making it a struggle to put food on the table.

These hardships come on top of already crushing inflation. In June 2024, inflation soared to a staggering 34.19 percent, with food inflation hitting a gut-wrenching 40.87 percent, according to the National Bureau of Statistics. With incomes stagnant, Nigerians are forced into impossible choices, having to cut back on essentials just to make ends meet.

 “With incomes stagnant, Nigerians are forced into impossible choices, having to cut back on essentials just to make ends meet.”

But shrinkflation is not the only villain in this story. Unethical practices by some food vendors, particularly concerning rice, paint a worrying picture. A recent survey uncovered shocking tactics: repackaging lower-quality rice, blending it with premium grains, and selling it all for top dollar. Even worse, some mix three types of rice in a single bag, burying the cheap stuff at the bottom and hiding it with a thin layer of high-quality rice on top. This blatant disregard for consumer safety is outrageous.

Is the government turning a blind eye? While some sellers blame economic hardship for shrinking portions, their actions suggest a more sinister motive. Inflating the price of adulterated food is not just bad business; it’s a betrayal of consumer trust.

One food vendor near Ikoyi shared the pain. “Prices are brutal,” she lamented. “Despite the higher costs, I haven’t changed my recipes. But I had to stop selling cow legs—it’s N9,000 now, from N3,000! Even making a small profit on goat meat is a struggle.” It’s a story echoed by many—a struggle for both sellers and customers.

A working mother, Mrs. Esther Abayomi, feels the squeeze. “Shrinkflation is a nightmare for working moms like me,” she says. “Bulk buying used to save money, but now I get less for more. It’s like my money evaporates every time I go shopping.”

Dr. Aisha Bello, a healthcare professional, raises another critical point. “Rising medical supply costs threaten patient care,” she explains. “It is not just affordability; it impacts access to essential healthcare. Hospitals and insurance get strained, leaving patients with a heavier financial burden.” Dr Bello highlights the need for a more comprehensive approach to measuring inflation, one that considers both price increases and shrinking sizes. This is crucial for crafting effective policies to protect consumers.

Read also: Food crisis may further amplify Nigeria inflation-NESG

Shrinkflation is not just a problem for working families; it is impacting everyone. Adeolu, a furniture maker, sees his savings dwindling. “Every naira counts now that I’m not as busy,” he sighs. “The rising cost of everything feels like a step backward. It is scary to think what will happen if prices keep going up and sizes keep shrinking.”

Prioritising transparency in food pricing is crucial. Businesses must clearly explain any price increases and the reasoning behind them. This allows consumers to make informed choices and fosters trust in the marketplace. Collaboration between businesses and policymakers is essential. Together, they can establish fair pricing structures and address the underlying factors contributing to inflation.

Turning a blind eye to shrinkflation only exacerbates the existing economic disparity. By offering less product for the same price, it disproportionately impacts low-income families who struggle with already stretched budgets. This widens the economic gap and hinders overall progress towards a more prosperous Nigeria.

The time for collective action is now. We need a united front—businesses, policymakers, and consumers—to tackle this pressing issue. Open communication, fair pricing practices, and addressing the root causes of inflation are vital steps towards building a more equitable future for all Nigerians. By working together, we can ensure everyone has access to affordable food and a chance to thrive.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Businessday.ng – https://businessday.ng/columnist/article/nigerians-feeling-the-pinch-shrinkflation-shrinks-wallets/

Tags: businessfeelingNigerians
Previous Post

Nigeria’s biggest single local investment faces age-old threats

Next Post

BusinessDay 22 Jul 2024

Antibiotic pollution could accelerate amphibian decline by turning a potential solution into a threat – Phys.org

Antibiotic pollution could accelerate amphibian decline by turning a potential solution into a threat – Phys.org

September 16, 2025
Fiji’s Ants Are Struggling. Scientists Say They’re Part of the Broader ‘Insect Apocalypse’ – Smithsonian Magazine

Fiji’s Ants Are Disappearing: A Stark Sign of the Global Insect Crisis

September 16, 2025

California Leads the Way with a Bipartisan, Science-Backed Ban on Ultra-Processed School Meals

September 16, 2025

Marwa Zaied: Leading the Revolution in Cancer Care and Longevity with Lifestyle Medicine

September 16, 2025
Will New Big Technology Engagements Reshape Innodata’s Growth Path? – Yahoo Finance

Could New Major Tech Partnerships Propel Innodata to Unprecedented Growth?

September 16, 2025
Registration open for fitness programs at Hereford Sports & Wellness – KFDA | NewsChannel 10

Registration open for fitness programs at Hereford Sports & Wellness – KFDA | NewsChannel 10

September 16, 2025
Men’s Freestyle Team Standings At The 2025 Senior World Championship – FloWrestling

Men’s Freestyle Team Standings at the 2025 Senior World Championship Revealed

September 15, 2025
ONEflight Myrtle Beach Classic boosts economy with $15.8M impact – WPDE

ONEflight Myrtle Beach Classic boosts economy with $15.8M impact – WPDE

September 15, 2025
The Emmys are back: Viewership soars to highest numbers in 4 years – yahoo.com

The Emmys Return with a Bang: Viewership Hits a 4-Year High

September 15, 2025
Bridging gap between artificial intelligence, real-world health outcomes – Rice University

Bridging the Divide: How Artificial Intelligence is Transforming Real-World Health Outcomes

September 15, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (822)
  • Economy (841)
  • Entertainment (21,719)
  • General (17,059)
  • Health (9,885)
  • Lifestyle (856)
  • News (22,149)
  • People (845)
  • Politics (850)
  • Science (16,052)
  • Sports (21,341)
  • Technology (15,823)
  • World (824)

Recent News

Antibiotic pollution could accelerate amphibian decline by turning a potential solution into a threat – Phys.org

Antibiotic pollution could accelerate amphibian decline by turning a potential solution into a threat – Phys.org

September 16, 2025
Fiji’s Ants Are Struggling. Scientists Say They’re Part of the Broader ‘Insect Apocalypse’ – Smithsonian Magazine

Fiji’s Ants Are Disappearing: A Stark Sign of the Global Insect Crisis

September 16, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version