I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
If there is no competition in business then it is not possible to get better service and if the government selects any of its nominees only for a specific business, then syndicates will be formed and the price of the product will increase. Not only Nigeria but the government of every country should create competitive services in all types of business so that the people will get better service there as well as the government can benefit. But at present, Some governments of different countries are not able to coordinate well in those areas, so it is not possible to stop the upward movement of goods. 
Topic: How to reduce the price of goods - page 6. (Read 1610 times)
the most reasonable reason is so they can compete with their business rivals. Unfortunately this is quite dangerous for small traders who sell the same product from different factories. they may not be able to drop prices because they are constrained by the capital they have. but if you don't lower the price there is usually very little buying interest. That's right, this is actually a monopoly of those at the top.
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
The prices will be stabilized when there are more distributors in the market. When there is competition in the market, product quality as well as services will also improve. Single distributors can change the prices at will. To reduce this monopoly, the government should play its part. They should make new rules and invite more people by making laws to protect their investments and increase the ease of doing business. It is also important that locals should record their protests against these issues.
At the moment, inflation is a global phenomenon, and every country in the world is facing this issue due to increased energy and oil prices. But, governments should play their role to ease the suffering of their citizens.
The fiercer the competition between businesses, the more consumers benefit and that is why developed countries like Europe hate and oppose monopolies. This is basic knowledge that even a 3 year old child can understand, the government is not stupid enough to not know that. But in third world countries, where the government stands behind some businesses to monopolize certain goods, it will be a serious problem for the people. Therefore, people's protests or objections will have no effect other than forcing them to reluctantly accept its use.
Its because governments are getting money from those businesses that they protect and with exchange they can monopolize some goods and even price them by hoarding goods that people or consurmers are struggling with. They aren't thinking of people they are only after their profit and this is the reason why the economy of the country is not improving because of this kind of corruption. No matter how you protest if they are still getting elected every election it is still useless as they are always carried away when a politician gives them money.
OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
I think how can a government support people who create problems for their people,This may happen in poor countries but such monopoly cannot be allowed in developed countries.Whose responsibility is to stop such people who create problems in the country's conditions and things, if the government supports these people, then who will take steps to stop such monopolistic people.
In my opinion, we should not support the government to take action against the monopolists, but the government should support the people, that they should raise their voice against such people, not support those who create problems for them,and mark such people so that the government can take action against such people.All governments have a responsibility to protect their people from all kinds of problems.
Then where do people have to run and complain? then tactically the community must carry out massive demonstrations when there is no place to complain, in a democratic understanding when the authorities no longer prioritize the sovereignty and welfare of the community, the demonstration is a step to voic the aspirations of the community to urge that the government makes a fair policy to eliminate entrepreneurs which monopolizes the market in Negeria.
Certain things are easier to reduce, but you can't make it all for everything. Like even if we talk about something as simple as vegetables, one nation can't have ALL vegetables for cheap, your climate and soil quality matters and even though you could have some of them for cheaper if you work harder and smarter, no matter what you do some of them will stay expensive because it is not your nations product.
Like for example in my nation it is nearly impossible to raise mangos, that is not really a bad thing, I can't care any less about that, not like I need mango in my life, BUT it is still a thing, so you can't make it cheaper here. You have to consider what is possible and only focus on those things to make them cheaper.
Yeah this sounds like a good approach, not every nation could drop it for everything, but as long as you can drop it for the bare minimum stuff for your nation, that would be good enough. Some nations have cheap rice, some have cheap pasta, some have cheap bread or meat, or some nation could have cheap broccoli, it doesn't matter what it is, it doesn't matter which type of food we are talking about, as long as there are few products that are incredibly cheap, people could have an alternative.Like for example in my nation it is nearly impossible to raise mangos, that is not really a bad thing, I can't care any less about that, not like I need mango in my life, BUT it is still a thing, so you can't make it cheaper here. You have to consider what is possible and only focus on those things to make them cheaper.
Sure you can go for the expensive one if you want to, that is your own option if you prefer that and have the money for it, but for poor people there should be a few good cheap products they can consume without getting broke to buy them.
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
The prices will be stabilized when there are more distributors in the market. When there is competition in the market, product quality as well as services will also improve. Single distributors can change the prices at will. To reduce this monopoly, the government should play its part. They should make new rules and invite more people by making laws to protect their investments and increase the ease of doing business. It is also important that locals should record their protests against these issues.
At the moment, inflation is a global phenomenon, and every country in the world is facing this issue due to increased energy and oil prices. But, governments should play their role to ease the suffering of their citizens.
The fiercer the competition between businesses, the more consumers benefit and that is why developed countries like Europe hate and oppose monopolies. This is basic knowledge that even a 3 year old child can understand, the government is not stupid enough to not know that. But in third world countries, where the government stands behind some businesses to monopolize certain goods, it will be a serious problem for the people. Therefore, people's protests or objections will have no effect other than forcing them to reluctantly accept its use.
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
The prices will be stabilized when there are more distributors in the market. When there is competition in the market, product quality as well as services will also improve. Single distributors can change the prices at will. To reduce this monopoly, the government should play its part. They should make new rules and invite more people by making laws to protect their investments and increase the ease of doing business. It is also important that locals should record their protests against these issues.
At the moment, inflation is a global phenomenon, and every country in the world is facing this issue due to increased energy and oil prices. But, governments should play their role to ease the suffering of their citizens.
Reduce the cost of logistics, that's the biggest reason why food costs or any product that needs to be transported have an increase in price, if we were to make the logistics shorter or efficient or cheaper, we might be able to produce a result that will reduce the price of any product. Imagine if there are Bugatti factories in my country, the price would drastically go down to a buy a Bugatti because there's no need to import one which is really expensive to do.
OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
I think how can a government support people who create problems for their people,This may happen in poor countries but such monopoly cannot be allowed in developed countries.Whose responsibility is to stop such people who create problems in the country's conditions and things, if the government supports these people, then who will take steps to stop such monopolistic people.
In my opinion, we should not support the government to take action against the monopolists, but the government should support the people, that they should raise their voice against such people, not support those who create problems for them,and mark such people so that the government can take action against such people.All governments have a responsibility to protect their people from all kinds of problems.
OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
I think how can a government support people who create problems for their people,This may happen in poor countries but such monopoly cannot be allowed in developed countries.Whose responsibility is to stop such people who create problems in the country's conditions and things, if the government supports these people, then who will take steps to stop such monopolistic people.
In my opinion, we should not support the government to take action against the monopolists, but the government should support the people, that they should raise their voice against such people, not support those who create problems for them,and mark such people so that the government can take action against such people.All governments have a responsibility to protect their people from all kinds of problems.
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
Well, government is involved so... yeah there's nothing that you can do with that I guess.After all, you are being given a power to vote for your president, and yet you are still voting the wrong one... or I guess it's safe to say that there's no correct one in the list.
Monopoly, followed by lack of resources, and of course inflation. I guess these are the reasons why prices of not only goods, but everything is increasing. Government don't want competition because that might affect their profit. If there's another competitor on a business that they're supporting with, unfortunately they will try to do everything just to shut it down. After all, they have the power to do it since they're the authority.
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
When a country still depends on the government system to be able to solve existing economic problems. So what we need to pay attention to is the policy of the government itself. Because government policies have a huge influence on the country's economy and the government also has full control over these policies, it is necessary to supervise and guard the policies issued by the government, because sometimes a policy is considered good for advancing the economy of a country. However, the result is that this policy is still unable to solve existing economic problems because in reality the implementation of this policy has not been optimal so that the expected goals have not been achieved.This is very different from America, where even though the government system is dilapidated, this does not really affect the country's economy, because there is a system that plays a role behind the existing government system.
OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.
All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.
to reduce costs things need to get back to local markets and have competition to make the large multinational companies have to lower their prices or have their produce not bought.. basically de-monopolise the market
There are also some virtue of having all those huge companies which is the employment rate is going up as well. By demonopolizing the market from this companies, that also means they need to cut some of their workers thus creating huge gap in employment rate which could affect the country in bigger scale which is also why some countries are pretty lenient on bending their law for these type of things
Well at some point having all those companies around also means that there will be tons of goods produced so the country doesnt need to worry about the lack of goods products supply for the country
the big agri decades ago turned multiple FAMILIES manual labour farms into one single harvester driven plot of land. where by XXX people working turns to just 1-2.. this WAS the 'efficiency cost saving' that helped decades ago to produce cheap food, but made hundreds of thousands of locals displaced and jobless, losing their land and culture.....(but thats a whole different debate for another time).. but it is now the international market price speculation of inflation that has caused retail price rises.. so now FAMILY owned farms could come back and toil land again and grow crops and make produce for locals cheaper
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
Oh that is just very unfortunate to hear.
When a business owns several factors of certain products, they have full control over the prices of goods on the market. Since there is no competition at all, they have all the discretion whether to increase/decrease their prices since customers would always be compelled to buy such products/goods to them. This is the reason on why competition is highly recommended- but it must be a "healthy" competition to preserve the economy and market.
If the Nigerian government supports this monopoly, then it speaks on how corruption works on your country. I just hope that there will be change that is enacted to counter and address this very difficult issue as this can cause a financial turmoil to everyone.
to reduce costs things need to get back to local markets and have competition to make the large multinational companies have to lower their prices or have their produce not bought.. basically de-monopolise the market
There are also some virtue of having all those huge companies which is the employment rate is going up as well. By demonopolizing the market from this companies, that also means they need to cut some of their workers thus creating huge gap in employment rate which could affect the country in bigger scale which is also why some countries are pretty lenient on bending their law for these type of things
Well at some point having all those companies around also means that there will be tons of goods produced so the country doesnt need to worry about the lack of goods products supply for the country
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
Maybe it is not about reducing the price of goods but more about increasing the purchasing power globally? Look at Switzerland, they are one of the most expensive nations in the world, but they are earning as much as the yare spending, sure there must be some poor people there too, but they are making insane amount of salary compared to rest of the world, which means that even a minimum wage worker there, even someone who other nations "deem" bad and low income stuff, can buy whatever they want globally.Look at Norway, look at Japan, all these nations make a lot of money even though their expenses could be huge, that means it is not about reducing the price of goods, let them be expensive if you have to, but make people richer.
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
Maybe it is not about reducing the price of goods but more about increasing the purchasing power globally? Look at Switzerland, they are one of the most expensive nations in the world, but they are earning as much as the yare spending, sure there must be some poor people there too, but they are making insane amount of salary compared to rest of the world, which means that even a minimum wage worker there, even someone who other nations "deem" bad and low income stuff, can buy whatever they want globally.Look at Norway, look at Japan, all these nations make a lot of money even though their expenses could be huge, that means it is not about reducing the price of goods, let them be expensive if you have to, but make people richer.
Not to mention, every manufacturing industry needs energy and if your country cannot import cheap energy, how can it produce enough cheap goods to supply the people? it's easy to say, but it's not easy to practice.
I am not talking about mass production or a whole country doing it. I am talking about individual people growing their own food items. This may seem a very little change that you can make, but when you look at it from a different perspective things start to change. Imagine 70-80% of people in a country growing their own food. They won't have to buy costly food from the market. And where the price is already manipulated, doing this will save a lot of money. All you need to buy then is those items or goods that you can't make on your own.
Individual changes come together in order to create a revolution. That's what history tells us. Fix your own economy and if others around you do the same, it could make a huge difference. If you fix your own economy, that will fix your country's economy. If this happens worldwide then the world economy will be fixed.
I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.
Monopoly kills competition especially if it's been sponsored by the government.
In the general market, there is supposed to be competition among marketers, not by making one person incharge of the a particular supply chain. It Then means that the person can fix a certain price on a particular product and the price regulatory body won't do anything about it, Although before it gets to that stage, just know that the government has their hands fully in it. For example, a particular company is given the licence to be the sole producer of cement in a country, it then means for every building that is erected in that country, the cement company has a hand in it. This kind of situation kills the spirit of competition and it's never healthy for an economy.
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