Traders in major markets across Lagos, Ogun and Osun states have seized the opportunity of the approaching Eid-el-Kabir to significantly increase prices of ram and goat.
Some Muslims faithful, who spoke with Sahara Reporters, said traders doubled the prices of the animals to squeeze more money out of customers.
At one of the biggest ram markets at Mangoro, Agege, Lagos, a ram goes for an average price of N80,000, our correspondent observed during a visit to the place.
This, according to findings by Sahara Reporters, is twice the price of what ram was sold on a normal day.
A man, who bought ram at the market said, “They (traders) have increased the amount they sell their cows and rams because they always want to make profit especially during the festival period.”
Also at Kara Market, Ogun State, a ram goes for as high as N75,000 instead of the normal price of N30,000.
A Muslim cleric confirmed the hike in price of ram to our correspondent during a chat.
He said, “I bought a ram at the Kara Market for N75,000. This is much higher than the usual price.
“They are merely capitalising on the situation to get more money from people who would be needing ram for the Eid ceremony.”
It was the same story at Ede Market in Osun State where a ram now goes for N70,000 – up from the N30,000 it sold weeks ago.
However, the hike in the prices of rams and cows has not affected demand by Muslim faithful, according to a handful of traders, who spoke with Sahara Reporters.
The businessmen claimed that since demand for ram and cows soared, they have been smiling to the bank on daily basis.
Eid-el-Kabir, which is an annual feast by adherents of Islam to commemorate the willingness of Prophet Ibrahim known as Abraham in the Bible, to sacrifice his only son in obedience to God, will be marked across the world including in Nigeria this year on August 11.
The Federal Government on Wednesday declared August 12 and 13 as public holidays in the country to commemorate the feast.