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.
Nigerians have been grabbing with the rise in prices of essential goods and services for almost a year now. The increase in transportation costs, including fuel prices, has also had a domino effect. The Nigerian food prize is the highest in 17 years. While the global rise in food prices is attributed to COVID and the ongoing Russia-Ukraine war, In Nigeria, it is also due to bad roads, supply chain glitches, and flooding due to climate change. The government intervention is inadequate, and fertilizer costs are too high. This cost of food items is astronomically high and is affecting the living costs of Nigerians.