The high price of cattle, exorbitant transport fares, the rising cost of living and the soaring fuel price are slowly killing off Kasuwan Shanu, one of the largest cattle markets in Nigeria.
Traders, buyers and sellers at the market in Maiduguri, the capital of Borno State, blame the withdrawal of the fuel subsidy on July 1, saying the steep rise in the cost of fuel is having a devastating effect on their businesses.
Ba Wuje Goni Mohammed, vice-chairman of the Borno Livestock Dealers Association, said that since the government removed the fuel subsidy on July 1, prices of commodities had increased substantially because of the ever-soaring price of fuel.
The result was that the market had become unstable and everyone in the trade of livestock was struggling to keep going.
“This market used to be a thriving hub for transporting livestock, particularly cattle, to other parts of the country, including Lagos State, Enugu, Delta, Warri, Imo, Asaba and Port Harcourt. But now we can’t afford to transport cattle and other livestock. The excessive fuel price is jeopardising everything.”
He said the cost of fuel, which was already steep at ₦360 a litre, was now ₦637.
“Instead of costing us ₦3,000 to transport livestock to the Gubio Local Government Area in northern Borno State, about 80km from Maiduguri, it now costs between ₦5,500 to ₦6,000. The prices of transporting livestock within the state are too expensive, let alone the cost of taking the cattle to other places in the country.
“Many cattle dealers have lost millions of naira in transportation costs. Some say they have lost about ₦2 million, others say between ₦1 million and ₦1.5 million. As a result of the fuel spike, the price of cattle has increased as has the feed. Buyers don’t have the purchasing power they once did – so there are far fewer people going to the market.”
He said the popular cattle market had been seriously affected at the peak of the insurgency because insurgents had stolen livestock.
“We were just getting back to a thriving business. Then Bola Ahmed Tinubu was elected as the new president of the country in May. He said then that the fuel subsidy was ‘gone’. Although it came into effect only on July 1, prices of fuel soared after the announcement. We were doing well until then. But now we’re struggling and it does not appear as if things will get any better in the coming months. The cost of living is killing our businesses.”
He called on the government and non-governmental organisations (NGOs) to support the market at this “critical” time.
Traders in the cattle business told RNI that they had lost many customers because the high cost of living meant buyers no longer had the purchasing power they once did.
Usman Mohammed, a cattle trader, said: “It takes me a whole day to earn between ₦500 to ₦1,000 which I use to buy food for my family.”
Mohammed Audu, also a cattle trader, said: “The market is a ghost of what it once was. Before you could pay about ₦200 a day to get something to eat. Now it costs almost ₦2,000. May Almighty Allah help us out of this crisis.”
SHETTIMA LAWAN MONGUNO
