Residents of the federal capital territory (FCT) are devising new methods and strategies to beat the rising cost of living in the federal capital. There has been a sharp rise in the cost of living following the increment in the price of petroleum products nationwide.
Abuja residents, like their counterparts across the country, woke on new year day and were confronted with new pump price of petroleum products. Since the introduction of the new prices, the cost of living in the seat of federal government has shot up significantly.
BusinessWorld Intelligence can disclose that one of the strategies being adopted by the residents to cut cost is to engage in bulk purchase of items in the market.
Residents now quickly form small groups of between three and 10 in the market to buy items especially foodstuff in bulk and now share it among themselves. Items usually bought most through this new method are yam, meat, grains like beans and rice and millet.
According to them, it is a new strategy that helps them get items cheaper than if they had bought those items individually. BusinessWorld Intelligence can also disclose that the Abuja residents have extended the cooperative approach to the purchase of other household items like beverages, soap and other consumables.
Some of the residents who spoke to BusinessWorld disclosed that in order to make ends meet, they have decided to cut unnecessary expenses such as visiting drinking joints on a regular basis. A visit to some gardens within and outside the city centre showed a drastic reduction in the number of patrons.
Meanwhile, transport operators have cried out over the lingering fuel crises in the city. Some of the transporters who were seen within the city with few passengers complained of difficulty in getting fuel.
A commercial driver operating the Idu-Wuse route complained bitterly that there are no passengers despite buying fuel at a high cost. The driver noted that unlike before commuters now trek to Wuse from Berger Bus Stop instead of paying additional N100 that motorists now charge.