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Home Macro Monday

Sallah Spending Shock: Tradition, Inflation, and the New Economics of Celebration

by Joan Aimuengheuwa
June 9, 2025
in Macro Monday
0
Sallah Spending Shock
Source: Techeconomy

Source: Techeconomy

UBA
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In 2024, many of us thought the price of celebrating Sallah had reached its peak. Rams that used to sell for ₦100,000 suddenly shot up to ₦400,000, forcing families to rethink age-old traditions. 

But 2025 has set a new record. This year, rams were priced as high as ₦750,000 to ₦1 million in many parts of Nigeria. What was once a religious and cultural celebration has turned into a financial burden for millions and its not just high prices we are dealing with, but the full impact of economic instability on daily life.

The Rise and Rise of Ram Prices

In just two years, the price of a mid-sized ram has jumped by over 400%, with Traders blaming insecurity in livestock-producing regions, higher costs of transport and feed prices.

On a broader scale, we see the naira has lost huge value, insecurity in Northern states like Zamfara and Katsina has disrupted supply chains, the cost of diesel and petrol has made moving goods across states nearly unaffordable, livestock traders are also dealing with new levies and multiple taxes across state borders. 

These factors combined have pushed livestock prices to levels that most Nigerians simply cannot afford.

Cutting Back on Celebrations

Many families have adjusted, some bought chickens or goats, others did nothing at all. For the first time in decades, Sallah passed in several households without the smell of grilled ram or the sound of children knocking on neighbours’ doors for meat.

Beyond food, this shows a growing economic divide. Those who can afford to celebrate still do, but those who can’t are finding ways to keep the spirit of the holiday alive, even if it means stepping away from long-held customs.

Effects on Traders and Retailers

The effects are being felt in the markets. Retailers reported slower sales in the weeks leading up to Sallah. Some deliberately reduced their stock, unsure of whether people would actually buy. 

Traders dealing in fabric, perfumes, shoes, and non-essential goods say the usual Sallah rush never came, the demand wasn’t there.

For many, income is stagnant or shrinking, salaries don’t match rising costs, and purchasing power is falling. Traders are adapting by reducing inventory, slashing profit margins, or offering instalment payments, moves that weren’t common even a year ago.

Digital Payments: A Useful but Limited Tool

The fee waivers and cashback promotions already offered by several digital payment platforms, including Opay, Kuda and PalmPay, helped this period. Users utilised these platforms mode to reduce friction at checkout points, encouraging users to send money to family members or pay merchants without needing physical cash or being scared of network failure.

However, the larger issue was that people didn’t have enough money. Technology can make transactions easier, but it doesn’t address the root causes of poverty or inflation. Many fintech platforms are also dealing with increased costs of operations, and we can’t tell how long these discounts can be sustained.

What about Logistics?

For businesses that rely on logistics, this Sallah was a test, with high petrol prices and deteriorating road conditions, delivery companies had to rethink their operations. 

Some cut back on service hours, others switched to using public transport systems for short-range deliveries, particularly within city centres like Lagos and Abuja.

Riders, who typically earn based on completed trips, saw a decline in volume. To retain them, some companies introduced bonuses, free maintenance support, or performance-based fuel subsidies. 

These measures helped, but only in the short term. The bigger challenge of how to deliver effectively in an environment where fuel prices are explosive and consumer demand is unsteady.

The Search for Alternatives

A few logistics companies like Max.ng and Bolt are now experimenting with electric and battery-powered vehicles, aiming to reduce dependency on fuel and stabilise costs of operations, but the transition is slow. 

Charging infrastructure is limited, and the upfront cost of electric vehicles is still high for small businesses.

Nonetheless, there’s thriving interest. If the current fuel pricing structure keeps up, we may see higher adoption of electric vehicles in Nigeria’s logistics space in the next two to three years.

What We’ve Learned from Sallah 2025

This year’s Sallah has shown us how quickly economic conditions can change long-standing cultural patterns. We’ve been forced to adapt under pressure, overlooking the rams for celebrations. 

The middle class, which once anchored consumer spending during festive periods, is being squeezed from both ends. Small businesses are struggling with falling demand and while digital platforms provide short-term ease, they don’t solve long-term affordability issues.

More than anything, Sallah 2025 reveals that the gap between tradition and reality is getting wider. And unless there is serious policy intervention, particularly around food supply, transport costs, and job creation, subsequent celebrations may become even more subdued.

Can We Still Afford to Celebrate?

Festivities used to be a time for joy and unity. Now, they remind us of what many can no longer afford. The government needs to take a serious look at the high cost of living and its long-term impact on social cohesion. 

Businesses, too, must prepare for a phase where consumer spending is lower, more cautious, and more selective.

Reflecting on this year’s Sallah has left me looking beyond if we could afford rams, can we afford to continue as we are?

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Tags: Cost of LivingDigital PaymentsEconomic hardshipEid spendingfuel pricesInflation NigeriaLogistics challengesMacro MondayNigerian economyRam prices NigeriaSallah 2025
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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