Business

High cost of rams scares Muslims as Eid-el-Kabir approaches

Published

5 years ago

July 10, 2021

Less than two weeks to this year’s Eid-el-Kabir marked with the slaughtering of animals, the prices of rams have hit the rooftop.
There are indications that many may celebrate the Sallah without the traditional slaughtering of animals due to the high cost.
A survey of some of the ram markets in Lagos, Abuja and other parts of the country shows that the prices of rams, goats and cows have risen by about 100 per cent compared to what their prices last year.
The rise in prices has been attributed to scarcity of the animals due to high level of insecurity affecting the areas where they are reared as well as the displacement of those involved in the business.
A report by Daily Trust Saturday indicated that rams bought between N85,000-N90,000 last year now go for between N150,000 and 250,000, while those bought at N200,000 are now selling for between N350,000 and N400,000.
The current inflation in the country has also contributed to the hike in prices of the animals as well as other food items and commodities.
For instance, at Maigatari International Market, a border area in Jigawa State, dealers and buyers of rams are lamenting the astronomical increase.
They expressed fears that many worshippers won’t be able to afford rams to celebrate the festival.
A ram dealer from Lagos, Alhaji Lukman Babalola, said, “The price of ram this year is much higher, compared to the last year’s. I have been in this business for a long time now and this year appears to be different. They are telling us that it is because of the high cost of living, which has also affected the cost of feeding the animals, coupled with the fall in the value of the naira.
“A ram that we bought for between N85,000-N90,000 last year is now going for between N150,000-250,000 now, while the ones we were buying for N250,000 are going for between N350-N400,000 this year.”
Another dealer, Malam Sabi’u Yusuf, said, “The prices are high, compared to last year’s. This is as a result of the high cost of living and how we bought the rams from the Niger Republic.”
He added, “Now, we sell a ram for between N120,000 and N150,000. We even sell some rams between N500,000-N520,000.”
A member of Ram Dealers’ Association, Maigatari branch, Alhaji Mai Ungwa Adu’a, attributed the high price to the drop in the value of the naira, compared to the CFP of Niger Republic.
“Now, 200 CFP equals N1,000 if you change naira and bring goods from the Niger Republic. That is why there is an astronomical rise in prices.”
A ram seller at Old Abattoir, Garki, Abuja, Usman Yahuza, attributed the scarcity to the insecurity challenge in the North. According to him, some communities where dealers buy rams from have been under siege by the activities of bandits and kidnappers.
“I usually travel to Mai Aduwa Village in Katsina State to buy rams in large quantities. I hire vehicles to convey them to Abuja. But kidnappers and bandits attacked the community and displaced the people. This has led to scarcity and high cost of rams,” he said.
He also said, “Drivers charge between N1,500 and N2,000 per ram. A big ram which sold for N120,000 last year now sells between N200,000 and N250,000, while a medium-size ram which used to be N60,000 and N75,000 now goes for between M100,000 and 120,000.”
He said medium-size goats which sold for between N20,000 and N25,000 last year now sells for N30,000 and N40,000.
At Anagada Livestock Market located along Gwagwalada-Zuba -Abuja-Lokoja highway, only a few rams, goats and cows were on the ground.
A ram seller, Abdullahi Umar, attributed the scarcity to insecurity from the areas where rams were conveyed to the market.
“In fact, most of the rams and goats that you see here are usually brought from Maigatari in Jigawa State and Ilela in Sokoto State. But because of the security challenge in the areas, some truck drivers are scared to go to the villages to convey rams and goat,” he said.
He added, “Even if a driver agrees to go, he will charge a high fare due to the risk. This contributes to the scarcity and high cost of ram and goats in the market.”

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Auto

French automakers return to Nigeria, team up with Dangote, Coscharis for 44,000-vehicle production

Published

41 minutes ago

March 12, 2026

Trends Admin

French automakers return to Nigeria, team up with Dangote, Coscharis for 44,000-vehicle production

French automobile manufacturers are mounting a fresh comeback in Nigeria’s automotive sector through strategic alliances with major local players, targeting the production and sale of about 44,000 vehicles annually as part of efforts to revive local assembly.

The renewed push involves two major partnerships: Peugeot’s collaboration with Dangote Peugeot Automobiles Nigeria (DPAN) and Renault’s alliance with Coscharis Group to produce vehicles for the Nigerian market.

The development was disclosed by Marc Fonbaustier, the French Ambassador to Nigeria, who said French carmakers are gradually rebuilding their presence in one of Africa’s largest automobile markets.

According to him, the partnership between Peugeot and Dangote Peugeot Automobiles Nigeria has already restarted operations with the Peugeot 301, while plans are underway to assemble additional models including the 308, 3008, 5008 and 508.

The ambassador noted that the relaunch is part of a broader strategy to scale up production capacity and increase local vehicle supply.

“The target of 44,000 vehicles annually is ambitious but achievable,” he said.

In a parallel move, Renault is partnering Coscharis Group to co-produce vehicles under the Logan brand for the Nigerian market.

French carmakers were once dominant in Nigeria’s automobile industry, largely through the activities of Peugeot Automobile Nigeria, which operated a major assembly plant in Kaduna.

Established in the 1970s, the plant assembled several Peugeot models locally and became a cornerstone of Nigeria’s auto industry. Vehicles such as the Peugeot 504 were widely used by government institutions, businesses and private motorists for decades.

However, economic downturns, policy changes and a surge in cheaper imported vehicles gradually weakened local assembly operations, causing production levels and market share for French brands to decline sharply.

The situation later prompted the Dangote Group to acquire a controlling stake in the company, leading to the creation of Dangote Peugeot Automobiles Nigeria, which has since modernised its assembly facilities and expanded production capacity.

Despite the revival efforts, the competitive landscape has changed significantly. Automakers from China and India have strengthened their foothold in Nigeria with more affordable models and growing local assembly operations.

Still, French investors remain optimistic about Nigeria’s long-term market potential. Fonbaustier said about 100 French companies currently operate in Nigeria, employing roughly 16,000 Nigerians.

He added that although rebuilding France’s automotive presence in Nigeria will take time, the new partnerships with Dangote and Coscharis mark an important step toward restoring local vehicle manufacturing in the country.

Business

JUST IN: Dangote Refinery Cuts Petrol, Diesel Ex-Depot Prices Amid Market Relief

Published

2 days ago

March 10, 2026

Trends Admin

JUST IN: Dangote Refinery Cuts Petrol, Diesel Ex-Depot Prices Amid Market Relief

Dangote Petroleum Refinery has announced a reduction in its ex-depot prices for Premium Motor Spirit (PMS), popularly known as petrol, and Automotive Gas Oil (AGO), or diesel, marking the first downward adjustment after several sharp increases in recent days. The new pricing, released on March 10, 2026, reflects easing global crude oil prices and provides potential relief for fuel marketers, bulk buyers, and consumers nationwide.

Under the updated pricing template, the gantry price of petrol has been cut by ₦100, from ₦1,175 per litre to ₦1,075 per litre. For PMS supplied through coastal distribution, the refinery set a slightly lower price of ₦1,050 per litre, accounting for marginal cost differences in maritime delivery.

The gantry price of diesel has also been significantly reduced by ₦190, bringing it down to ₦1,430 per litre from the previous ₦1,620 per litre. The refinery clarified that these ex-depot prices exclude statutory charges imposed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), meaning retail pump prices may still vary depending on additional levies and distribution costs.

Context and Market Impact

The price adjustment follows a period of rapid increases in fuel prices, which had raised petrol to ₦1,175 per litre and diesel to ₦1,620 per litre in early March. Analysts say the reduction is a response to declining international crude oil prices and signals potential easing of fuel costs across the downstream sector.

Industry experts note that while the ex-depot price cuts offer short-term relief for marketers and bulk buyers, the extent to which they will translate to lower retail pump prices remains to be seen. Retail fuel pricing also depends on transportation costs, depot margins, and regulatory fees, which can differ across regions.

For Nigerian consumers, even modest reductions in ex-depot prices could help alleviate transport and logistics costs, easing broader inflationary pressures in the economy. Motorists and businesses are now closely monitoring fuel stations to see how quickly the reductions are reflected at the pumps.

The move underscores Dangote Refinery’s continued influence as Africa’s largest petroleum refinery, shaping pricing trends and impacting Nigeria’s energy sector amid volatile global oil markets.

JUST IN: Dangote Refinery Cuts Petrol, Diesel Ex-Depot Prices Amid Market Relief

Railway

NRC Investigates Assault Allegation Against UI Lecturer at Moniya Station

Published

2 days ago

March 10, 2026

Trends Admin

Obafemi Awolowo Train Stattion, Moniya

NRC Investigates Assault Allegation Against UI Lecturer at Moniya Station

The Nigerian Railway Corporation (NRC) has launched an investigation into an **alleged assault on a lecturer from the University of Ibadan (UI) at the Moniya train station in Oyo State, according to sources familiar with the matter.

The incident reportedly occurred on [specific date if available], when the academic was reportedly involved in a confrontation with NRC staff and/or security personnel at the Moniya rail station. Details remain sketchy, but eye‑witness accounts suggest that the lecturer sustained physical injuries during the altercation before other commuters intervened and security operatives were called to the scene.

Following complaints from the lecturer and concerned passengers, the NRC’s management announced that it has set up a panel to investigate the circumstances surrounding the alleged assault, including reviewing available footage from station cameras, interviewing witnesses and questioning staff members who were on duty at the time.

In a brief statement, the NRC said it “takes the safety and dignity of passengers and members of the public very seriously” and pledged to ensure a thorough, impartial probe into the matter. The corporation added that appropriate disciplinary or legal action would be taken against any staff found culpable.