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 has a great effect on price of commodity. In a monopoly system, price of a product can be raised anyhow without worrying about the actions of competitors. A perfect competitive market can help to reduce the effect of monopolist on price of goods and services.