Commodity

Will there be crash in prices of commodities before Christmas?

Though the prices of everything in Nigeria have been on the high side for a while especially since the advent of Covid-19, it has not reduced nor remained static; rather, prices of commodities continue to rise by the day.

The soar in the price of cooking gas on the Nigerian populace is extreme to the extent that many now use firewood and charcoal to cook; consumers can no longer cope with the increase in the price of cooking gas and the Federal Government as usual seems unable to proffer any solution.

A 12.5kg cylinder, that was sold for N6,800 in September  increased to N8,000 while some gas dealers blame the development on the increase in Value Added Tax (VAT) to petroleum products, high demand of gas and naira devaluation.

What do you expect when we are only consuming and not producing as an independent nation?  The fiscal policies of the government do not help matters; the Nigerian government should come up with some interventions and provide an enabling environment for industries to thrive.

Insecurity in Nigeria is the major cause of food scarcity, farmers are afraid of going to the farm because of the fear of attack.  Insecurity also causes inability of farmers to produce enough food for domestic consumption while border closure also contributes massively to the hike in prices of food items because borders were not open for importation.

It is a fact that in December especially during the yuletide, transportation fare will increase for no reason.  With the current situation, there is no hope that the price of commodities will reduce before Christmas.

Abdullateef Aderemi Fowewe, Ibadan.

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