{"id":1306,"date":"2026-07-14T06:55:45","date_gmt":"2026-07-14T05:55:45","guid":{"rendered":"https:\/\/mediaconversation.com\/?p=1306"},"modified":"2026-07-14T11:30:25","modified_gmt":"2026-07-14T10:30:25","slug":"rising-prices-reduced-consumer-demand-shackles-abraka-economy","status":"publish","type":"post","link":"https:\/\/mediaconversation.com\/?p=1306","title":{"rendered":"Rising Prices, Reduced Consumer Demand Shackles Abraka Economy"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>By<\/strong> <strong>Blessing <\/strong><strong>Iyere<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Residents and business owners in Abraka, Delta State, are grappling with rising inflation and the increasing cost of living, as economic pressures continue to affect household spending and commercial activities in the university town.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A survey conducted across major markets and business areas in Abraka revealed that the prices of food items, transportation, rent, and other essential commodities have increased significantly in recent months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traders and consumers say the continuous rise in prices has reduced purchasing power and forced many families to cut back on non-essential spending.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At Abraka Main Market, several traders expressed concern over declining patronage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to them, customers now purchase smaller quantities of goods because of the high cost of living.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some retailers said they have been compelled to increase prices due to the rising cost of transportation, fuel, and wholesale supplies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mrs. Oghenero, a foodstuff trader, explained that the situation has become difficult for both sellers and buyers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cBusiness is no longer as profitable as it used to be. Customers complain about prices every day, but we also buy our goods at higher prices from suppliers. We are simply trying to survive,\u201d she said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Transport operators in the town also attributed higher transport fares to increased fuel prices and vehicle maintenance costs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Commuters, particularly students of Delta State University and civil servants, said transportation now consumes a larger share of their monthly income.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Economic analysts noted that inflation continues to weaken consumers\u2019 purchasing power, affecting businesses across different sectors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They explained that small and medium-sized enterprises which form a significant part of Abraka\u2019s local economy, are finding it difficult to cope with rising operating expenses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A Farmer (Mr Tega) who supplies agricultural produce to Abraka markets also reported increased production costs due to expensive fertilizers, poor road networks, and higher transportation charges.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He warned that unless production costs decline, food prices are likely to remain high.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr Tega also made mention that our First Lady Oluremi Tinubu has mentioned that her office has empowered Nigerians through grants ,scholarships, ICT trainings and social investment programs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">She added that businesses such as akara,roasted corn, and kulikuli production can be started with little capital<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Financial experts have called for policies that support small businesses through affordable loans, improved infrastructure, stable electricity supply, and investment in agriculture.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They believe these measures would help reduce business costs, encourage entrepreneurship, and stimulate economic growth.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Residents also urged governments at all levels to implement policies aimed at reducing inflation, creating employment opportunities, and improving living standards.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They argued that sustainable economic reforms would strengthen local businesses and restore consumer confidence.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although economic conditions remain challenging, many business owners in Abraka remain optimistic that improved policies, increased investment, and greater support for local enterprises will revive commercial activities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They believe that strengthening the local economy will create jobs, improve incomes, and contribute to Delta State\u2019s overall economic development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Blessing Iyere Residents and business owners in Abraka, Delta State, are grappling with rising inflation and the increasing cost of living, as economic pressures continue to affect household spending and commercial activities in the university town. A survey conducted across major markets and business areas in Abraka revealed that the prices of food items, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1307,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"iawp_total_views":62,"footnotes":""},"categories":[16,14],"tags":[31,315],"class_list":["post-1306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abrakametro","category-trendingnews","tag-abraka","tag-nigerias-economy"],"_links":{"self":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/1306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1306"}],"version-history":[{"count":2,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/1306\/revisions"}],"predecessor-version":[{"id":1317,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/posts\/1306\/revisions\/1317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=\/wp\/v2\/media\/1307"}],"wp:attachment":[{"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mediaconversation.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}