Quote from: Peter Faith on October 21, 2023, 08:58:38 PM

As we approach the festive season...prices of things have really gone up...from food items... clothing..even household items and there is less flow of cash
What could be the actual cause? ...will the average Nigerian survive it? Well we only hope for a better tomorrow

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.

Quote from: Egii Nna on Today at 06:48:38 AM

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.

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.