I wan really ask how dollar wey oyibo Dy use Dy take Dy affect the prices of goods and services for our country because if to say na only goods wey dem import I for say na the exchange rate when making payment but how e take affect things wey we they source raw materials locally come produce here like garri, rice, indomie, cloths, and other things
Most of the things we use in Nigeria are imported, the more dollar keeps on increasing the prices of things imported keeps on increasing, but if dollar dey drop, then prices of things go dey drop. Things produced locally are increasing because the tools and fertilizers even farmer’s are making use of are imported, and the prices are increasing, fertilizers and chemicals which they are using are imported, so they spend more money on getting those things, they spend more money on transporting their goods due to increase in fuel price, and after selling their farm products, they need more to buy some other things which they also need, and most of those things are imported so they will spend more.
And also the government should be blame, they don’t control price of goods in the country, they allow everyone to sell at any price which they want, so immediately one person increases price of a product, then others will also do so, and government won’t control them.