I have noticed that our agricultural products like rice, chicken, turkey, etc and even wears are cheaper despite transporting them into the country. What could be the reason?

Dunno

Truly puzzling. The matter tire me.

miniziter:
I have noticed that our agricultural products like chicken, turkey, etc and even wears are cheaper despite transporting them into the country. What could be the reason?

Our manual farming techniques hinders bountiful crop yielding coupled with our shylock middle men who moves this produce to us at a very exorbitant price, if you argue it go were they buy this goods and see things for yourself.

The only way to make your locally manufactured goods to be cheaper than imported ones is by buying them. It sounds crazy but that's the reality. Technically, cost of production is reduced when goods are manufactured and sold in high quantity. Nigerian farmers don't have the resources to produce in high quantity so they have to keep the price up to sustain cost and consequently their business as a whole. When you keep buying them and they keep expanding, the cost/price will keep coming down until local goods are cheaper than the imported ones. In case you want to read more, this is called the economy of scale.

We have a similar issue here as well but ours isn't going away anytime soon cause we have a gigantic producer nextdoor and regardless of how we consume our goods, that producer will always have population/market advantage (but we still buy local products partly to support the economy and partly cause of other advantages one get from consuming locally made products). However, Nigeria is the giant in this case but poor management hasn't let the country convert its size into economic power. Even with the big market there, mechanization is still low thus making it difficult for the country to take advantage of the economy of scale. Again, people believe it's more "luxurious" to consume foreign goods in Nigeria.

What he said...,

hisgrace090:


Our manual farming techniques hinders bountiful crop yielding coupled with our shylock middle men who moves this produce to us at a very exorbitant price, if you argue it go were they buy this goods and see things for yourself.

hisgrace090:


Our manual farming techniques hinders bountiful crop yielding coupled with our shylock middle men who moves this produce to us at a very exorbitant price, if you argue it go were they buy this goods and see things for yourself.

I may agree with your first point but the issue of middle men is what I won't buy. This is because the foreign products too came through some people.

WoundedLamb:
The only way to make your locally manufactured goods to be cheaper than imported ones is by buying them. It sounds crazy but that's the reality. Technically, cost of production is reduced when goods are manufactured and sold in high quantity. Nigerian farmers don't have the resources to produce in high quantity so they have to keep the price up to sustain cost and consequently their business as a whole. When you keep buying them and they keep expanding, the cost/price will keep coming down until local goods are cheaper than the imported ones. In case you want to read more, this is called the economy of scale.

We have a similar issue here as well but ours isn't going away anytime soon cause we have a gigantic producer nextdoor and regardless of how we consume our goods, that producer will always have population/market advantage (but we still buy local products partly to support the economy and partly cause of other advantages one get from consuming locally made products). However, Nigeria is the giant in this case but poor management hasn't let the country convert its size into economic power. Even with the big market there, mechanization is still low thus making it difficult for the country to take advantage of the economy of scale. Again, people believe it's more "luxurious" to consume foreign goods in Nigeria.

You made mention of patronising locally products till the price come down, what about the economics law that say the higher the quantity demand.... The higher the price?

miniziter:

I may agree with your first point but the issue of middle men is what I won't buy. This is because the foreign products too came through some people.

Yes foreign product do but our reasoning/behaviour differs, we mostly believe we can become rich in one single opportunity thereby acting aggresively with impunity.

miniziter:

You made mention of patronising locally products till the price come down, what about the economics law that say the higher the quantity demand.... The higher the price?

No,
the lower the price.