Nigerians have been lamenting, as the price of Beans continues to skyrocket, reports have it that it is currently sold for N100,000 per bag, under the guise of dollar shortages and naira depreciation. While many may blame the government, it's also important to note that the ugly situation has nothing to do with inflation but a simple collapse in production. In other words, production is simply not meeting demands, which is why the government should not be blamed.
There was no bumper harvest of beans last year due to natural phenomenon, including farmers abandoning their farms due to insecurity. Also, the major market for this produce are currently under lock down due to insecurity, because there was a very big crop failure last year and the impact is now being aggravated.
The supply of beans does not meet the demand for beans, hence increase in the price of the produce and the only solution is importation or make forex available for importers to import beans and then watch the price collapse.
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