Regulations of the price of goods and services over due in the Nigerian market

Ever-young

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Quote from: Mate2237 on December 18, 2024, 11:08:54 AM

With what I see government is not concerned about the plight of the masses that is why government has not come up with the measures that will help in controlling the price of goods and services in the market even though it will be a hard task because government has to be proactive in terms of addressing the high inflation rate in the country they will do that by way of bringing the right policies to make sure that inflation rate is reduced in the country this can be done through setting up of industries that will produce good's that will meet up local demands that is the only way that government can control the price of goods and services in the Nigerian market space

Nothing is bigger than the government to control the price of goods in this country; it keeps on going up due to the lack of attention from government agencies. If they want to regulate price, they can do just that, especially for those locally made products here in Nigeria. It's even also easy to control price for imported goods.

For the imported products here in the country, I don't blame dealers much for that; the customs are pushing them to the wall. The high cost of clearing goods is on the high side. If the government wants to do anything, they should start from there.

Governments that own facilities always have poor management, as the staff there are only concerned by what they can achieve; they can try and empower as many citizens who are ready to venture into different areas of business in producing the goods we need in the country and make use of on a daily basis. If the products are locally made and surplus in the market, the demand will reduce and the competition will force others to reduce the cost.

Mate2237

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Quote from: Spaceman1000$ on November 29, 2024, 02:35:33 PM

Quote from: TEBTC on November 17, 2024, 12:41:24 PM

With the current inflation that Nigeria is going through with the prices of goods and services increasing everyday in the market there's need for government to step in and have a control of what is going to be sold in the Nigerian market.
Because every day that passes the cost of living is just increasing and the prices of goods in the market is adding prices but the most disturbing thing is that government seems to be turning a blind eye to it as there's little or nothing that is been done to salvage the situation.

Infact I have come to the conclusion that people are taking advantage of this current economic realities in the country to exploit the rest of the population as the price of important items that are not even imported into the country extremely very high example are (Cement,Garri, Beans,) Etc
Government should come up with measure's to see that the price of goods and services are controlled and regulated so the effects of the current economic realities will not be too much on the masses

This can work when you have effective government on ground, people that are ready to listen to The plight of the citizens and as well make adjustment on how to make life a bit fair, but this set of persons you have now as leaders don't care if prices of goods skyrocket to the rooftop. Ordinarily we are supposed to have a price control unit that is to checkmate some of these excesses and sanction those that are not selling within the speculated price range.

With what I see government is not concerned about the plight of the masses that is why government has not come up with the measures that will help in controlling the price of goods and services in the market even though it will be a hard task because government has to be proactive in terms of addressing the high inflation rate in the country they will do that by way of bringing the right policies to make sure that inflation rate is reduced in the country this can be done through setting up of industries that will produce good's that will meet up local demands that is the only way that government can control the price of goods and services in the Nigerian market space

Asiska02

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Quote from: uche6215 on November 17, 2024, 01:01:06 PM

I agree with you on this because government has not done enough on the issue of regulations of goods in the market and allot of traders are taking advantage of the current situation that we are currently going through, the relevant government agencies that are saddled with the responsibility of regulation in the country should step up their game and go into the market and regulate prices of goods in the market as this will go a long way to cushion the effects of the inflation that we are passing through as a nation

Do this agencies still work at all? Did the government give them the power to make them so strong to be able to deliver their responsibilities well? I don’t think if the government is yet to give them that power and much authority they’ll be able to do anything even when they see all this happening. The federal government should take the step in harnessing this by giving more powers to those relevant bodies. During military regime, I once read on how price control was very effective and all traders in the market abide by it. But today being the democratically government, we can’t see the effect of such things and it’s gradually increasing the hardship in the country for the common man. Also noticed since the minimum wage has been increased and many state governments are adopting it, prices of foodstuffs are now skyrocketing. I’m not surprised because I saw that coming too since we don’t have an effective system to control the price of goods in the market.

Marykeller

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Quote from: TEBTC on November 17, 2024, 12:41:24 PM

Government should come up with measure's to see that the price of goods and services are controlled and regulated so the effects of the current economic realities will not be too much on the masses

The measures that the government should come up with is to reduce the hike in petroleum products. That way the price increase of foodstuffs would decrease drastically.

The government can't fail in what they should do and expect the high cost of things to reduce. That's way impossible. That's why they are not putting it up as a command for things to reduce in price nationwide. Don't they know what's right and wrong? They can't try such, by the way, because they know that if they try such a thing, the masses will accuse them more of the real cause of the increase in goods and services. For them to stay away from the accusations, let them play deaf ears to the cry of the masses. That way, they will be safe in their government from backlashing of the masses

Egii Nna

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Quote from: uche6215 on November 17, 2024, 01:01:06 PM

I agree with you on this because government has not done enough on the issue of regulations of goods in the market and allot of traders are taking advantage of the current situation that we are currently going through, the relevant government agencies that are saddled with the responsibility of regulation in the country should step up their game and go into the market and regulate prices of goods in the market as this will go a long way to cushion the effects of the inflation that we are passing through as a nation

You all are saying this because you are not stock traders; that is why. I know a lot of stock traders also have their own, but based on considering all the costs of food and other items, it came from the skyrocketing price of fuel in the country. Let me give you an example. Let's talk about transportation. The amount you paid for your transport a couple of years ago, is it the same now? If NO, then why did you think the price of food and other items that involved transport would still remain at its fixed price before? Let’s not deceive ourselves; all these problems are coming from the government, so the solution must be from the government if they will reduce their greediness and feel the pain of their citizens.

Josefjix

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yes

Quote from: ? on November 30, 2024, 04:45:56 PM

The major problem we have in Nigeria is the price of fuel if government will control the price of goods and services and the fuel price keeps increasing what will happen to the companies that produce those goods they will have a great lose even if you make zobo drink or you sell soft drinks you still need fuel to power those electrical appliances to make the drinks cold in other to attract customers and you have to work in order to make gain same thing will happen to those companies if they don't increase the price of their goods so the government should first look into the matter of the fuel price before any other situation

Same state, same PMs price, but different stores offering different prices; are you going to blame our wickiness of some dealers for PMS price as well? The truth is that commodity price regulation agencies are no longer executing their basic duties, and PMS regulatory bodies are no longer monitoring prices in our filling stations, which is why some sell more expensively than others. These bodies formerly existed, but they are no longer present.

?

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The major problem we have in Nigeria is the price of fuel if government will control the price of goods and services and the fuel price keeps increasing what will happen to the companies that produce those goods they will have a great lose even if you make zobo drink or you sell soft drinks you still need fuel to power those electrical appliances to make the drinks cold in other to attract customers and you have to work in order to make gain same thing will happen to those companies if they don't increase the price of their goods so the government should first look into the matter of the fuel price before any other situation

Spaceman1000$

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Quote from: TEBTC on November 17, 2024, 12:41:24 PM

With the current inflation that Nigeria is going through with the prices of goods and services increasing everyday in the market there's need for government to step in and have a control of what is going to be sold in the Nigerian market.
Because every day that passes the cost of living is just increasing and the prices of goods in the market is adding prices but the most disturbing thing is that government seems to be turning a blind eye to it as there's little or nothing that is been done to salvage the situation.

Infact I have come to the conclusion that people are taking advantage of this current economic realities in the country to exploit the rest of the population as the price of important items that are not even imported into the country extremely very high example are (Cement,Garri, Beans,) Etc
Government should come up with measure's to see that the price of goods and services are controlled and regulated so the effects of the current economic realities will not be too much on the masses

This can work when you have effective government on ground, people that are ready to listen to The plight of the citizens and as well make adjustment on how to make life a bit fair, but this set of persons you have now as leaders don't care if prices of goods skyrocket to the rooftop. Ordinarily we are supposed to have a price control unit that is to checkmate some of these excesses and sanction those that are not selling within the speculated price range.

Hewlet

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Quote from: TEBTC on November 17, 2024, 12:41:24 PM

Government should come up with measure's to see that the price of goods and services are controlled and regulated so the effects of the current economic realities will not be too much on the masses

seeking for price control without seeking that the right policies be implemented that will reduce the cost of production na total hypocrisy and we all know say that one no go fit work out. when you expect government to enter market force people when de sell garri to reduce the price of a rubber of garri because garri is not imported and they reduce there price and goes to someone that is selling rice and purchase it at an expensive rate, no be cheating be that? you de consider say those people when de produce local goods when no involve any imported item still de follow you enter public transportation when don increase finish and say them still de follow buy fuel when price don shoot go up wetin no nice.

price regulation de mostly work during the military regime and if you follow up the process, you go know say no be the best of policy be that because for the most part of it, you de force people to sell below wetin de buy their items for and that one normally no make sense at all. marketers de complain of the tax when the government de over charge them and some other union de on their neck for so many taxes and you wan de consider forcing them to sell there goods at a fix rate in an economy that is as volatile as this? e no fit work at all.

Jegileman

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Price control will help to reduce the price of goods in the market but I don’t think that will be a very effective way for the government in Nigeria today. If it was that easy and could have proffered a solution, the government would have by now move a motion for that and we will not be facing this much hardship that we are battling with today. I heard in the past that price control was a normal thing during the military regime and citizens do abide by it very well and those marketers have no right to sell above the market price. This is now a democratic government, even as the power is willed to the president, achieving that won’t be that easy, so other solutions should be used to make things more conducive for the citizens.

uche6215

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I agree with you on this because government has not done enough on the issue of regulations of goods in the market and allot of traders are taking advantage of the current situation that we are currently going through, the relevant government agencies that are saddled with the responsibility of regulation in the country should step up their game and go into the market and regulate prices of goods in the market as this will go a long way to cushion the effects of the inflation that we are passing through as a nation

TEBTC

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With the current inflation that Nigeria is going through with the prices of goods and services increasing everyday in the market there's need for government to step in and have a control of what is going to be sold in the Nigerian market.
Because every day that passes the cost of living is just increasing and the prices of goods in the market is adding prices but the most disturbing thing is that government seems to be turning a blind eye to it as there's little or nothing that is been done to salvage the situation.

Infact I have come to the conclusion that people are taking advantage of this current economic realities in the country to exploit the rest of the population as the price of important items that are not even imported into the country extremely very high example are (Cement,Garri, Beans,) Etc
Government should come up with measure's to see that the price of goods and services are controlled and regulated so the effects of the current economic realities will not be too much on the masses

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