Topic: High cost of commodities - page 2. (Read 519 times)

You are right but governments are the major cause or contributor to what we are experiencing today, what are they elected there for?  Is it not to rule and to guide the people? There are agencies of government that are in place or meant to checkmate the activities of these traders, like traders who are intentionally taking advantage of this current economic situation by increasing price more than what it is supposed to be, forgetting that there is no escape route for any Nigerian doing this, so far you work, feed and stay in Nigeria,  there are other ways you too would spend that money you think you are making from hiking of prices 2-3X and above.

Yes, but this situation is just like you are already into wasteful spending because the expense is on a steady increase and the income is no longer matching the weight of our expenditure at the end of the day,  weeks, and months,  take you, for instance, something you used to buy let's say #500 and with a salary of #50k per month and now due to the skyrocketing prices,  you now have to buy the same product at #1500, 2x in price while your salary remains #50k,  and this price increase is also experienced with other products you purchase, so this is what I think is the major case here.

Currently, the price of dollar is been sold at the rate of #1200 per $1, and as such, so is the price of goods and commodities rising every day in their numbers in the market, of which the poor massive have no option but face the high price of it, hence, suffering when they can't afford a square meal due to the fact that they have limited resources. So in regards to the question you just asked above about why do the price of goods always goes high when it's about approaching festive period e.g Christmas, of which for me, my sincere answer will be that the price of these goods are raise high simply just to maximise profit, knowing fully well it's a celebration period,  and no other reason.

All we have to do as people is to hope for a better tomorrow as our today's reality is strangulating us. The economy of our country is currently experiencing a term in economics called *hyper inflation",  where the market forces are majorly determined by the marketer's, as government can barely come in to mediate the situation as they are handicapped with the situation of things. We are in for a long ride but I believe we will surmount it with time.

We complain things are hard yet we ourselves make things difficult for us. Many Nigerian traders and businessmen are hoarding goods they bought at extremely cheap prices few months back and are waiting till we get to November or even December to sell them at exorbitant prices because they know demand will be high during the festive period. What I like about it is, the high profits they are making,  they will still spend them on other expensive commodities and services.

We Nigerians over the years have developed tough skin to all this hardships. Everyone will survive it whether rich, average or poor. Its not something new to us anymore. I will only advice that we avoid wasteful spendings. We still have our Normal lives to live after festivity. Country hard sha.

As a Nigeria we have a very strong belief that with every hardship comes ease. Nigerians are optimist and they are willing to see the good out in every situation they find themselves. With the cost of hardships, we still have a lot of work to do to fend for ourselves when the government is not ready to give them. At this point, I think the government has no control whatsoever on how to control the economy situation of the country. No control price of goods and commodities, the marketers are the ones regulating the market price. But we are still hoping for a better change since change is constant.

Are you cursing the country that this bad condition will be a continuous thing?. Things are bad, times are bad, and we should at least be optimistic for a better tomorrow. Change is a constant thing and I personally believe that Nigeria will experience change pretty soon. The country is under siege and manipulations of our devilish politicians, If not, festive season should be a time to lower the cost of goods and commodities to enable people celebrate actively and happily.

Your prayer and your believe are contradictory, how do you expect the prayer to work?. Have faith cos its your faith that will push God to answer your prayers.

With the way food items are already high, I can’t just imagine the amount that will be added to them during the festive period. It’s something that happens always in this country, so we are still expecting it to happen during this festive period. All this is caused by poor management. The government should have people that are going to regulate the prices of food items, but they allow everyone to sell at individual prices, so the more the demand for a food item is increasing, then everyone will keep on increasing their prices. If there are people monitoring them, then it shouldn’t be like that.
 
The government should be blamed for things like this happening, but we should also blame ourselves. We the poor are not trying to help each other, any little opportunity everyone is having, they will want to miss use it, which is very bad, the food items might not increase money from where they are getting them, but due to festival period, they will want to add money to make more profit, which is very wrong. Someone who can do this, if the person is given the opportunity to hold any political office, then the person will also be stealing.

Brotherly you have said my mind in all you have spoken. But you see this issue of refineries working or not working it's a rhetoric that's beyond what meets the eye. For the cabals that are benefiting from the continually dormancy and dilapidation of the refineries in the Nigeria would do anything within their strength to perpetuate the status quo just for them to keep their benefits flowing while the timid masses that would have been benefiting from the productions of those refineries if revamp and maintained just keep suffering.

There are cabals that are enlarging their pockets through the exportation of refined crude oil that was supposed to be done in the home country where the material is located and not until these cabals die a natural death these problems of increase in fuel price leading to constant increase in food and  prices of other materials will not end. They just keep making promises each year with no corresponding actions to promises made. The situation of Nigeria is a simple clear example of a  country where we have individuals that are stronger that state institution's - in such a country nothing works for the common man!

Fuel price as I see am my dear brother man I just weak like menhn, were we dey go for this country menhn if u no get better hand work wey be say steady flow of customers dey come in and out e go really choke oh... To be honest Dollar now dey ₦1,200. Haba like this we no dey fit breath again.

Lol, why Nigerians no go survive,ever since Nigerians has been surviving so this is not a new thing. Ever since this year started the marketing sector just dey upside down. But come to think of it, price of goods will not just increase there's something wrong with Nigeria economy.
Firstly if government can make a conducive space for our marketers I think price of things will subside. I came across a video on arise news where some market women where  seeking assist from the government, calling the government to creat a condusive environment where they can grow and get loan.
I sure say everybody dey stay for naija, you fit testify say everyday price of goods dey increase, why?
Transportation: transportation na the major problem wey our marketers dey face even we as individual. As transportation don dey expensive like this marketers go need to increase price of goods to stand their business.
Demand and scarcity: the population rate for naija don pass be careful, this thing wey you talk no dey for only Christmas season e dey for Easter season too. I don observe say every festive season price of goods dey increase because na the season wey celebration dey, every family wan celebrate. Let's take rice for example, half of naija population go cook rice on Christmas day and marketers dey very trickish sometimes wetin you wan buy that season no dey rampad na only one person dey sell am due to high demand, na so the only person wey get that product go add price 5× for that product. I don observe na festive season all this things dey happen

Nothing is impossible, they can control all the high costs of all commodities but they are not ready to do it now because we have been suffering from it for many years now, if they are serious about fixing the issue, I am sure they should have started it right away but no one is ready to solve the problems, our leaders are just corrupted eating money that does not belong to them and the federal government cannot control all 36 states, which is why we have each governor in very state,  But not all of them are honest they may gather money for the federal government to work in the state and fix some problems  but they will not do so instead, they will keep the money and divide it among themselves because they don't want the country to improve.

we need to get a good leader and stop the corruption because many people are used to it especially our leaders they don't know anyone except their family and children they want the poor people to continue suffering, Buhari regime he close border we can't buy products in another country he said everyone should go and farm and the people that form they spoil their crops in the form bandit attack them and spoil everything, and that will cause food prices to rise and another thing because there is not enough and no money if it is not our politicians who are in control of this bandit they should have found a solution to them already.

Tinubu regime now again he just remove subsidy for fuel everything just increase price like crypto because without fuel foodstuffs and other things cannot be circulated in the country i think he will be among things that make things cost in the country because even if you went to the makers and buy something and you complain that the product is cost they will say fuel as increased price, and fuel is among things that make the country great because without fuel there will be no transportation, And in order for all of this to be affordable the price of gasoline must be reduced, as it has risen by about 640# per litre now, am very sure if fuel reduce price all this foodstuffs and household items will decrease too and the country will be more better again.

I would say that as a Nigerian we are, am not talking about those that didn't grow up here in 9ja, am specific to those of us who have been here from childhood to mature age, so I don't think there is anything that's new in this country anymore, we have seen it all and nothing is new anymore to us, the only thing that we are expecting is for our presido to use the country as a collateral just to get a loan so everyone can be slaves but the greatest news it that is can't be possible because what happened in Ghana at the year 4 June 1979 will definitely happen here in this country, but we just want peace to be in Nigeria now fierceness in the country.
Well, I suggest that everyone should try as much as they can to make sure that they be save, because with life there will also be hope for the betterment of Nigerian.

This is not longer a news anymore for this our country and we are already use to it. Na small thing dey cause am. increase in food prices, higher cost of energy and transport, and depreciation of the naira. Na all these things dey make the price of goods and services dey jump pass the roof. Government dey try to do something but e no dey easy. Make government diversify the economy, reduce the country reliance on oil and gas, make agriculture increase productivity and boost export. Make dem also invest in education and Healthcare and fight corruption. All these things go help but e no go easy. We all need to try hard to make things better.

Sharing money for people as dem dey plan in the name of cash transfer na just waste of resources. No sane country dey do that kind thing to alleviate suffering. I don't know where Nigeria dey get that kind useless and unfruitful idea and policies. Some people go hide under that to enrich themselves while the suffering continue hitting the poor masses. Use the money for something meaningful like subsidizing food items and implement policies wey go make people comfortable. But all hope is not lost yet since we get God, we continue dey survive.

Things more than this happen, and we people survive them, so even with this one, it is just a matter of time before it passes. However, things get high based on how people demand it. During that period of time, if the supply is slow and people that need such things are plenty, then definitely things will change. However, if you look at it, you will understand that companies in Nigeria are now producing less of these things because people that demand them are plenty, so you can see that since the supply in the market is slow, people who get these commodities will double the price because they only have a few people that have them in their stores. And the reason why the supply is low is due to PMS, which is high. Suppliers are unable to push out goods for the people that will buy them, so the less they supply, only a few people get them, and it's a high cost. And all these problems can be solved by the government.


You can’t say it will continue happening for years to come, mate. This is one of the reasons we cannot get to solve our country's problems. We are the ones to pray for a better Nigeria, but at the same time, we don’t do that. We always have things that cannot be sorted out in the country, which is wrong for any problem that happens in a country. If you see that the government doesn't solve it, they don't want to solve it. If not, there is no problem in Nigeria right now that our government cannot survive. But what is happening is that the kind of leaders we have, most of them are there to make more money, not to do better things for us, and that's why you will see that things are going the other way.


The reason why things get high in the country is obvious, man. The main reason why things get high today in Nigeria, I will say, is the PMS price. If you look at it, it’s been happening before every end of the year. You will see that the PMS price gets high, and you will see that everything, not only good stuff but even clothing material, gets high at that time. So the reason why Nigerians are panicking this time is that the price of PMS got double because of the subsidy removal since early 2023, so we are not used to it, and that is why every single thing in the market gets double in price because suppliers use the PMS to supply goods to the market.

We all know that things are very expensive especially when is approaching festive season precisely clothes, foods people who are living under paid salaries might even finds it very difficult to survive because the rate at which dollars has taken over our Nigerian Naira is showing much concerns and threat to our economy, people finds it very hard and difficult to survive despite we do cut out small portion of dollars over here doesn't mean we aren't affected.

I over had some discussion with my friends and they were complaining of their concerns and how things aren't moving properly with them and even the money they are being paid can't for one day pay cover their cost if living due to the high dollar increase. At this point they seems to lost hope because it's very hard for an average man to survive or woman to survive with at least 50k per month.

Again, for those waiting for month December to come first should at least start buying their Xmas things now maybe it could reduce expenses because a bag of rice (50kg) currently is sold for 50 to 60k and I am very sure by first week of December it would cost 90 to 100k , that is why it's very wise to start projecting some of your Xmas things now.

The reason why most of the things are high in price because of the exchange rate, because we are all aware that every increase in dollars seriously affect our currency and most of the commodities and other materials are bought with dollars so there is a likelihood that the seller will sell a bit higher than what he bought with in other to make his profits.

But however there are most people who have intentionally decided to increase there items just to take advantage of the current situation perhaps I blame the government of  that one because it was supposed to be there responsibility to enforce a price control measures in other to stop people taking advantage of the poor.

Things that use to be very cheap has now become a Hortcake for most people to afford.

Funny how you say if we can survive or not. What have we been doing all this while? The price of things going up during this period is not something that is happening only in Nigeria, because it's normal even in the normal business sense, because once demand is high and supply is low, then the price of things will eventually sky rocket and that's the case with this period, because at this festive period the demands of things tend to be on a different scale that's slightly higher than the average and this result to cost of goods and Commodity and I believe it's happening every where but since surviving is actually the feature of humans that you cant be altered, I think we are good and we will survive just like the previous times we have been doing.

As for a better economic, we can only hope that we get that soon because if it's all the necessary resources for a country that actually possess this, I think Nigeria has all but the issue is just mismanagement of funds and I think until we tackle this issue as country, there will be always be a thorn in flesh we can't get rid off.

Lack of proper price management, high demand, and inflation are the main cause of these price hike in every festive periods in Nigeria.

The average Nigerians have been surviving it for long because this is not the first time it is happening in Nigeria, but we hope for change this time even though the inflation is high, and the dollar to Naira exchange rate is also not favorable which has been affecting the price of goods because even the transportation of the goods is been affected as the price of deiseal and PMS that are majorly use for transportation is also high.

You are right; the Nigerian government can control all these but they need seriousness and time because the damage has been made already and to providr solution take so many stages and steps, and we citizens need to contribute as well.

Nigerian government has abandoned one of the easiest and less expensive means of transportation which is through train; now that petroleum products are expensive, coal might be affordable and the train transportation is safer than road. If we have been using both of the for long, the government would have alternative ways to provide proper solution to the problem.

Nevertheless, if our Nigerian Refineries can start to refine crude oil, all these hardship will be reduced as the price of petroleum products will reduce which will have effect in almost all prices of goods.

This is what people are saying, which is very bad. How can you say that this will continue for years to come? Did you even know what is called the power of the tongue? If at all you have done your research you will know the course of the problem and why the commodities in Nigeria get high at any end of the year. You won’t have said that because you will know where the problem is from and again the solution to the problem, but I will assure you that the high cost of commodities can be controlled.

 
The main causes of the high price rate of commodities in Nigeria at the end of the year include increased demand during festival season, supply chain distribution due to transportation challenges, and seasonal fluctuations affecting agricultural products, which can be controlled. For instance, companies in Nigeria reduce the amount of goods and commodities they produce at the end of the year, and that is the time when demand is high, which is also applicable to the petroleum sector. The main factors that cause the high cost of commodities are solutions and mechanisms to control this, which include improving infrastructure, promoting local production, and also implementing an effective supply chain. Also,  this will be done by the government, which controls the fuel price, and it should be enough to supply various parts of the country.

It is a regular thing in Nigeria and is entirely driven by the forces of demand and supply. There is usually high demands around the December period and this is what is responsible for the high prices. You know Nigeria do not even have price control against that I'd effective. So people inflate prices as a result of the rush.

The average Nigerian will survive just the way they have been surviving. It is just a matter of adjusting because there will always be commodity for any level of income.