Post
Topic
Board Nigeria (Naija)
Re: What makes cost of living still high in Nigeria when dollars loose value.
by
promise444c5
on 31/03/2024, 14:44:54 UTC


A trader that bought goods when dollars was at ₦1800 and now dollars dey ₦1200 you no go expect am to dey sell at the rate of ₦1200 because na at a lost him dey sell so and there's no guarantee say after him sell finish say dollars go stay stable for am to restock him goods. Dollars self fit go rise to ₦1500 or more. If dollar rise him dun lose in two ways and if he continues like that he'll run out of funds and also out of business.

Las las the price of goods go reduce as dollars stabilized but for the main time we go still dey experience the aftermath of the price of dollars being high and traders buying at that high rate because everybody's want profit in business and they're also looking at the future purchase of goods.
Well I think this is one of the able u fit view from and another be say
Nigerians are too greedy and desperate, fine the low is still fresh but do we think when they discard their high pricr bought goods through selling , they will bring the price down ..... even if they reduce they will still be selling higher compare to how they should be selling  which is why we will be needing the government  to intervene  with the price probably setting a price control  range maybe not now as time should be given  to sell their products
For example
If selling of rice is 150 then the range should  be 150-180 , even if a seller wants  to be greedy  there we be others selling at that 150 forcing  him or her to stay on the right price