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 is something that often happens in the market and for that reason the prices of goods continue to rise uncontrollably. Distributors always try to control the market and they try to store products and sell them when goods become scarce, so that in the end prices increase and are out of control. Sometimes they play leverage to try to take advantage of opportunities because when they are successful in entering the market and setting prices then it becomes easier for them. What's strange is that they actually got this influence after making deposits to certain parties and still they escaped the monitoring of the relevant parties.
In my country fertilizer is always monopolized by distributors and this fertilizer is a necessity for farmers to support the agricultural sector. When the fertilizer becomes increasingly scarce on the market because it has been sold out, they will try to release the fertilizer to the market and sell it at uncontrolled prices. Our government always tries to provide solutions, but the monopoly mafia still continues to do that and quite difficult to eradicate.