Its natural for people to be wondering why the appreciation of the naira isn't affecting price of goods. The reason is simple, MARKET UNCERTAINTY. For those monitoring the market, you'd see that naira will appreciate for a couple of days and then dollar will in turn appreciate. This uncertainty is the reason business people don't even bother to reduce their prices. Their thinking is this; what happens if I reduce my prices and the dollar increases to the extent that I run at a loss?

Another thing is the fact that Nigerians are wicked people. A lot of business people have goods that were bought when the dollar was at a certain rate, but they're selling same goods at the current high rate of dollar. Don't get me wrong, they should certainly add 'something' because they're in business to make profit, but inflating the price so much is just wickedness. The fact that we don't have reliable bodies to checkmate these things give them the confidence to price their goods as they see fit.

The crazy thing, however, is that whatever price you increase on your goods, you'll invariably pay somewhere else, except you're a producer of everything.

seanfer:


Garri is produced with Dollars abi?

Is diesel not used in the processing and transportation of the cassava and garri?
Typical APC Zombie.