these days, it is rare to see a direct reflection of the dollar price on the price of imported goods when the naira is gaining. even if importers pays less amount to bring the goods down to Nigeria and even get the goods at a cheaper rate, it is rear to see them reducing the price or taking it to normal. the phone i bought at the time the exchange rate was really on the high side is even more expensive at the moment than it was at the time i bought it.
the statistician general of the federation just released a statement that the inflation rate has dropped down from the 34.80 percent recorded in December to 24.48 percent. ideally, such difference is supposed to have an obvious effect in the price of goods but we all know the difference between figures and what is really happening on the street. maybe those that are at the forefront of importation and exportation business might have a clue regarding how the current exchange rate has placed them at a better position but for the commoner that is at the receiving end, there is nothing to show for that the naira is even gaining.
Absolutely, price control on itsms or goods in this country is as occasion serves you.
Individuals determine their price not only based on how much they bought or market regulations but for how much they have targeted as profit.
On like other countries where there are authorities institutions that regulate market price for goods.
The foreign goods are not really cheaper. The matter is that, price of items over there ads are not mostly updated so as to attract buyers who will later find out the real price of what they felt is cheap.