Price as the amount place on the goods in the market. It determines the value of the product the money can buy. It is what a buyer will pay to purchase a commodity from the Sellers in the market.
There has been inconsistency in the placement of price in Nigeria markets. There is no stability in the price of goods so far and it has affecting the citizens seriously.
Every sellers is always hiding under any event that occur to hike the price of goods, even if the event has nothing to do with the market
Then, why is it so?
Every market seller is independent in the placement of price on the commodity. The sellers have the total power in determining the price of the good, without putting the buyers pocket into consideration. The sellers have it in their mind that the buyers must buy it, because the commodity is needful. Most especially, the sellers of food items always increase the price of their market, because they have known that people will surely, nobody will live without food. Also, the government will not challenge their action.
The sellers in Nigeria are curious in making profit at all cost. They want to be having double of the money incurred in the business within a short period of time.
This act has subjected many buyer to suffering. The little money is not enough to purchase anything in the market anymore. The money has been considered valueless.
If the government can take control of price of commodity in the market, there will not be unnecessary increment in the price in the market. Also the customers will be relieved from being extorted by the sellers.
And finally, the citizens will have access to many products in their possession and naira will increase in value in the market.
I hope my article is informative. Please share.
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