Post
Topic
Board Nigeria (Naija)
Re: Regulation of price by the government
by
nelson4lov
on 27/03/2024, 23:22:48 UTC
Nigeria has always have this problem in the society when it comes to regulating of price in the society.a country like Nigeria should have rise to be able to have a set of body which help to regulate and create a certain price for it  market system

Omo we no get neither the means, structure or infrastructure to fit regulate and monitor prices of goods and services at scale. Traders and business owners know this one that's why them dey exploit consumers for their own personal gain. I remember one time in my locality, one man wey own like 2 of the only 4 filling stations in an  area but due to the fuel scarcity, the other 2 filling stations lacked fuel to sell. What did he do? Lock off one of his stations and inflate the price to a 50% premium above market rate. Market was around N500, he was selling for around N780.

Na that time I just concluded that in life, there is no need to hate the player or hate the game but you should learn how to play it. Nigeria is slowing turning into a PvP economy.