My country people, I greet Una o. Abeg I go school graduate o but e get one thing wey I Neva really understand and I believe say the forum na the best place to ask the question. 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
This thing Dy really make me struggle and look for means to earn in dollar.
Abeg I Dy wait for replies if possible use graphics, practicals, example and illustration anyhow wey I fit use understand am.
The rise of dollar in Nigeria na as a result of economic factors wey dey affect de country and these factors na, inflation, our economy no dey stable and government policies. Inflation go fit decrease the purchasing power that is the amount of goods and services dem go fit buy with a currency and if U check na mostly dollar we dey use because most goods and services are imported and our currency value dey decrease so ee go make those good expensive impacting de prize for stores.
Locally, how ee take dey affect prize of good and services na mostly cost of fuel and transportation. Exchange rate dey affect fuel for Nigeria because of imported fuel and once de prize of fuel dey high transportation go increase
just imagine transporting fresh tomatoes from north to south and most of our locally made goods here e.g like garri U go need grind am and grinding machine dey use fuel so dem go add prize and after grinding U go transport am go Market to go sell so U see am say dem sef go calculate dere expenses den add prize to get gain. This dey applicable to others also like palm oil, some products U go buy raw materials and transport am from one region to another or inter-state. So increase in fuel prize and high cost of transport dey really affect our goods and services locally.