Post
Topic
Board Nigeria (Naija)
Merits 1 from 1 user
Re: How dollar rise take affect the prices of things?
by
CryptopreneurBrainboss
on 09/02/2024, 22:46:37 UTC
⭐ Merited by uchegod-21 (1)
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

Na the effect of your country being a consuming country and not a producing country, wetin we sabi for this country na to just dey consume and we dey import 90% of things wey we dey use for this country and when we dey do international deals na dollars we dey use so anytime wey we dey import and is being affected by the price of the dollars.

The major things wey we dey use for this country is imported, the fuel, electronics and major food suppliers are all import so dollars dey affect all this things and your local garri or product seller also gets affect so she too go come add price too as the cost of productions dun increase and she go also need better profits to use buy those other things then wey dun increase. Transport hikes comes from fuel price increasing and since we dey use dollars buy fuel, if the price of dollars increase because of the depreciation of Naira dat one go affect everything wey dey market as they all get transported.