I'm surprised when dollars loses value and the cost of things still remains high. now dollars have dropped a little but still yet the cost of goods in the market still Sky rocket, I don't understand the reason why dollar drop and cost things are still high, some time I wonder if Nigerians are using dollar purchase in the local market. what makes me worried soo much is our local food,the seller keep telling me dollar have increased, now dollar has been slash down a little the cost of living still remains the same.what is happening to my people.
I don't expect this to be new to you/us at all because this is how things works in Nigeria, if the price of goods are getting high it's takes much longer time before it reduces. The way things increase is more faster than the way it reduces. When you buy goods of 100k and you are selling it the way you could be able to gain 30k from it that's 130k in total, and all of a sudden things changed in a way that the price of good you bought for 100k is now 70k meanwhile you haven't sold the previous goods you bought for 100k. Now I ask you if you will use your religious exemption to sell at your own loss?
If you say no, others will also say no and even when you say yes others will still say no. So it's hard for things to reduce price but it's easy for good to add price. The way naira dragged through the mud early this year, it was something else that's why things are cost the way they are now. It will only take a longer time for thing to reduce price, we only need patient for now,,, as dollar is losing value in naira we hope for a better opportunity opportunities.