Topic: Price fixing and control (Read 139 times)

Price fixing and control is needed here but it has to started from production companies and the government has a major role to play in this situation, lets not forget that this production companies pay tax and for them to produce and sell there are production cost which involves the row material, electricity and workforce, we know that Nigeria don't have steady electricity supply so fro anyone to go into manufacturing you must be prepared, the heavy duty engine, generators must have diesel in the to function and all this cost money.
For the government to get it right they must subsidize these materials to enforce the price fixing and control effectively.

One thing we need to understand is there is many things that need to be regulated before we talk about regulating the goods sold in the market. The first thing is the availability of this goods and not only them been produced by the private sectors alone but also government owned institutions this will help in the circulation of the goods. The second is making an enabling environment for the private sectors, the government charges them too much on tax and also other agencies like power companies also is a barrier for them and that’s why they hike the fees.

Now as for the irregular price in commodities the government need to find balance between the supply from the private producers to the retailers, buy from this end and sell to retailers. Another thing is the laws on shop renting, the government need to add it to housing problems, some of this retailers rent shops or pay rents in excess. Some landlords will just decide to increase the rent and for them to meet up they have to also increase there commodity prices and that’s why there is variance in price most at times. Without fixing this things no one will adhere to a fix price of goods implemented by the government

Very easy for government to handle the situation, if truly our government mean it to end this high price of commodities in the country, first let government fight for the price of fuel to come down to #100 per liter and see if the price of things will not come down to normal like those days when we use to use #1000 to buy food stuff and still have some extra money in our pocket.

It will be good for the government to fix the price if they will do everything possible to assist the companies that is producing all those products in the country and also reduce the taxes government imposed on them in the country, which are part of those things that is making many companies to continue increasing the price of commodities in the country.

The thing be say na the commission or agency wey supposed to dey regulate this things na no dey do their work because of to say dem dey work then they for know say the sales men wey dey for the country dey temper and do whatever them like as dem see say no body dey stop or talk anything about am but if there is strong action to this then maybe the government can combat this issue because the matter no be for only shops dem because even for the fuel stations too, sometimes e get some stubborn manager wey dey increase the price of their Petrol due to scarcity of fuel.

It's a very vast thing for government to solve and you cannot expect the Nigerian government to do that, even if they do they cannot keep track of the things and just for example in my country the government has fixed the price for auto, cabs but who follows it? Nobody follows it and they just take advantage this situation hence the only thing is we need to boycott such supermarkets which does this as there is no point arguing on this as they will just rebate with one or other excuses.

Unlike what the government has mandated to be done to any defaulting fuel station where the pump metre has been adjusted, same can be applicable to the marketers with ridiculous price tags on their items.
Also, if a union is formed to check all these practices, the prices might be fixed and way more than it is now, that is if the owners of these businesses or marketers even agree to join the union in the first place.

The best advice is to patronize the marketer with the lowest prices, use alternatives to the products one is used to, if there are appropriate bodies to report such findings to, please do so. The government of change should start from we the citizens.

Nothing is above government power to handle regulating price fluctuation is very simple if truly the government want to , the question is who are those making the inflation still the government, how is it the government? they stand on responsibility to subsidized some essential commodity, but they  are not.  another is giving license to few individual in form of monopolizing an essential commodity, still in the hand of government and closing ofr border when you have less production to satisfied your people still in the hand of the government all this mentioned issue without being properly handle government can't regulate price, because if they do it will bring down the economy more to zero level of operations.

if u observe in market trades some of the women do come together to form a union regarding sales of goods but over time you find out that dey do attend the union meeting and do agree on a particular price but once they are out of that meeting dey disregard every agreement some of them comes up with excuses like I want to sell quick market and lower d price making it hard for others who has agreed to sell on a particular price while some will separate after the meeting and form there own meeting to increase the market price that why when u move from one store to another u hear different prices.


Truth of d matter the government can't really do much the only change that can happen needs to start from us.

No don't have it viewed that way OP, sometimes it is the suppliers that the retailers and the whole sellers would be pointing hands at concerning how much they sold to them, every vendors and traders do have their own suppliers just as we are customers or final consumers to the retailers.

So they (the shop owners) sells out their good in relative to how much they suppliers sold to them.
And if the suppliers are held responsible, they too would point hands towards the productions(factories) defending itselves that they sold either on a high or low amount based on how the factory also sold to them and if the factory are being hold on to for being responsible for this whole things, then they the factory will spread their wings dragging in to say materials used for the production is too expensive so if they sells at everyone's affordabilities then they being stakes to the point of countless losses.

What about if you hold onto the items or substances producers who sells to the factories to produce final consumables items, I am sure they would point hand on the governments, this is how this differential quotations of  goods and services rates are incured.

Let the government set possibilities of a stable economy first and then we would know if these vendors are playing games on the final consumers or not but for now, let's just say the markets is just right and no one is obtaining the best profit out of the exchange of goods and monetary.

To some extent, you can't blame them. The same way you are complaining of fixed price is the same way they are also facing issues when they go out to stock their shops. The price of goods has never been fixed in this country and this moment you buy a goods at the rate of 60k and the next it's 80k and then 50k what do you expect of them? The thing is that they wouldn't want to be in loss regardless of how you look at it and so when they buy at a certain high price, you don't expect them to sell in an amount that will put them in a loss.

I know certain malls do add something to the company price just so they can get small top ups but you still have the final decision if you will buy the goods or not. It's not going to be realistic that the government will regulate price of goods except you want us to go back to the military regime. Business exist firstly for the sake of profit and how much profit a particular shop owners wants his totally his business.

What I see that causes price differenses in Shops is that most traders that baught goods earlier which never sold all there goods they bought, will still be struggling to sell of all the market they have. While the next shop has already sold all there goods and gone to the market and bought new goods with different price, so you wouldn't expect the first shop and the second to sell equally because the person That bought the first market has not yet sold all he/she has bought, so there will be differences in price.

Actually government can make it effective by imposing a law that will guide the market association sothat there wouldn't be a change in price. But before that, the FG will need to settle to start the law from the top being the producers down to the retailers. Because if they don't impose the law from the top being the manufacturers, it will still not be effective .

It's very much possible for the government to fix price for every goods and service but the truth is everything has its own flaws, hence fixing price will harm a lot of firms and industries and from my political view this firms, big organisations, companies are own by the elites which is the same people in government. They only use people's name to cover there wealth and by this correcting(fixing) the price of commodities will be very difficult.

From my perspective, the government can handle absolutely everything thing in the country using regulations, imagine if a government can enforce use of new naira notes in less than three months that means there is absolutely nothing they can't do. Fixing the price of commodities are simple, as soon as the announcement has been nothing can be done about it. If the government wish to start it has to be with fuel price first because it regulates almost everything in the country. So if that is fixed then every other price will fall in place.

I have recently noticed something that is a concern to me about the Nigerian market and how most sellers take advantage of us the consumers because they understand that we are powerless against them. The issue is the issue of price fixing and control. I have noticed that many supermarkets have the luxury of fixing any price they want for their goods, and there is no price similarity for commodity between two shops. Something wey you buy for this shop nor go get the same price for another shop wey fit just dey along the same road where you buy the other one.
The excuse of every of the sellers is that they are selling at the price which they got the goods, it is true for some of them, but a lie to many of them too. How do you think that the government can handle it? Will it be good for the government to set a fixed price for all commodities? will it be possible for the government to do?