Osagie Elegbe, former Chairman of Actors Guild Of Nigeria(AGN) Edo State Chapter, exponent Edo In Focus and member Benin National Development(BND), who recently came back from a United Kingdom (UK) tour, is saddened by the price system, particularly in comparison with what is obtainable back home.
“What you buy abroad today, a year later the price is relatively the same. When you juxtapose the continous rise in prices of goods and services amidst the crashing of the dollar almost on a daily basis in my country Nigeria, it is unimaginable and disheartening.
“Thanks to the Central Bank Of Nigeria(CBN) and the Federal Government for the crashing of the dollar. Unfortunately, the effect positively is not felt in the market as prices of goods and services is continously on the rise.Â
“A Toyota 22pin jarbox that was sold for N2m last month is now N2.3m amidst dollar crashing down. PMS price in Lagos usually has been the same with PMS price in Benin for many years until recently. People go into business not just for gains, but to maximise profit.
“There are excuses here and there for such discrepancies eg transportation. None of this was actually a major factor until recently, independent marketers are having a good time. Even the smallest of ice fish is as high as N3,000 their reasons for this hike in price was the increment of dollar, but now that the dollar is crashing down, what next?Â
“I guess marketers will say the stock they bought with the high price have not been sold. What about the stock they had before the dollar increase that pushed prices of goods and services beyond the reach of the common man? It seems the market forces can no longer determine favourable price system and the monetary policies too. I believe some measures of fiscal policies should be introduced.
“Nigerians love looking for every loophole for excessive gains. The government must as a matter of urgency come to our aid. Many are dying silently. This happiest people on earth that was once an inscription ascribed on us has it’s limits. Nigerians should be fair to one another while we pray and work towards government being fair to Nigerians,” Elegbe opined.
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