Quote from: Out of mind on Today at 01:34:06 PM

Quote from: Gun Boat on September 19, 2023, 07:54:14 PM

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.

Food prices are very high in my country, I think it is mainly due to the high cost of various transports and the rise in oil prices which is causing the food prices to rise. Moreover, due to higher consumption of petrol or electricity in various factories and various machines for food preparation, everything increases in price. So the charges of all the products reach a high level as it takes expensive cost to manufacture them. But if the government takes good steps in agriculture, then the price of food items can come down, but the government is unable to take such steps. For which food prices are constantly increasing, and charges are being increased with all kinds of products. And in order to bring the food prices under control, the crops must be grown in the land first and the farmers have to take good steps only then it is possible to bring the high food prices under control.

Quite a lot depends on the executive power in the country. If the country's economy has signs of capitalism, in which private producers of the food industry have benefits and there is no strict supervision over them, then control over the situation is needed. Private traders love to inflate the prices of their products and they don't care about ordinary people. At the same time, the only ones who can prevent them are the regulatory authorities on the part of the state. And it is important that such private owners do not have a monopoly, because with a monopoly there is no competition and no price ceiling. Such a manufacturer can inflate prices as much as necessary.