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Journal of Economics and Allied Research (JEAR) Volume 5, Issue 1---December, 2020

  • January 2021
Authors:
Ifeoma Stella Madueme at University of Nigeria
Ifeoma Stella Madueme
Emmanuel O. Nwosu at University of Nigeria
Emmanuel O. Nwosu
Anthony Orji at University of Nigeria
Anthony Orji
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Journal of Economics and Allied Research (JEAR) is a peer-reviewed open access journal published by the Center for Contemporary Economics and Allied Research, Department of Economics in collaboration with the University Press, University of Nigeria. The journal accepts state of the art research in the following areas: All areas of mainstream economics as well as other areas such as environment, health, economics geography, social and cultural issues, petroleum and energy economics, political economy and public policy. The journal publishes articles quarterly. Articles involving cross sectional, cross country, time series and panel studies are welcome. In selecting articles for publication (from articles that have passed the review process) the journal will try to strike a balance among the subject areas and methodological approaches. In order to facilitate the speed of acceptance, articles addressing current economic problems or challenges with specific policy relevance will be given priority. Articles can be submitted online or as attachment any time to the email of the journal editor as shown below: (Email: jeareconunn@gmail.com)
A Chart Showing the average prices of Rice per Kongo, per Month, in Naira, before, during and after COVID-19's Lockdown Source: Field Work, 2020 Table 3 and figure 1, disclosed that, the average price of a kongo of rice in November 2019 was N500, December 2019 -N550, January 2020 -N550, February 2020 -N550, March 2020 -N550, April 2020 -N800, May 2020 -N800, June 2020 -N800, July 2020 -N800, August 2020 -N800, September 2020 -N700, and October 2020 -N650. These figures show that the prices of a kongo of rice in the study area increased by 10% from November 2019 to December from 2019, remained stable from December 2019 to March 2020, increased in April by 45.45%, remained stable from April to August 2020, reduced by 12.5% in September 2020 after the relaxation of the lockdown, and reduced further by 7.14% in October 2020. An interview held with some of the rice sellers, revealed that, When the COVID-19's lockdown commenced, the rice sellers were unable to travel form Akure to Mokwa in Niger State where they usually purchase rice from and resell. They stated that, the law enforcement agencies barricaded the roads, even when the federal government of Nigeria instructed them to allow vehicles carrying food and some other essential commodities and services to move freely within and across all States in Nigeria, the instruction was not totally obeyed. The rice sellers either had the option of paying extra fee to cross the barricades erected by these officials or sit at home. This extra fee coupled with high transportation cost increased the cost of purchase of
A Chart Showing the average prices of Rice per Kongo, per Month, in Naira, before, during and after COVID-19's Lockdown Source: Field Work, 2020 Table 3 and figure 1, disclosed that, the average price of a kongo of rice in November 2019 was N500, December 2019 -N550, January 2020 -N550, February 2020 -N550, March 2020 -N550, April 2020 -N800, May 2020 -N800, June 2020 -N800, July 2020 -N800, August 2020 -N800, September 2020 -N700, and October 2020 -N650. These figures show that the prices of a kongo of rice in the study area increased by 10% from November 2019 to December from 2019, remained stable from December 2019 to March 2020, increased in April by 45.45%, remained stable from April to August 2020, reduced by 12.5% in September 2020 after the relaxation of the lockdown, and reduced further by 7.14% in October 2020. An interview held with some of the rice sellers, revealed that, When the COVID-19's lockdown commenced, the rice sellers were unable to travel form Akure to Mokwa in Niger State where they usually purchase rice from and resell. They stated that, the law enforcement agencies barricaded the roads, even when the federal government of Nigeria instructed them to allow vehicles carrying food and some other essential commodities and services to move freely within and across all States in Nigeria, the instruction was not totally obeyed. The rice sellers either had the option of paying extra fee to cross the barricades erected by these officials or sit at home. This extra fee coupled with high transportation cost increased the cost of purchase of
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