Dollar Falls But Goods And Services Remain High
By Dailytab24.
This is a troubling trend in the country. While the government fight to stabilize Dollar rate, those offering goods and services want to continue to take advantage of the day.
The situation is not working in tandem. The discrepancies show there is something going on somewhere, and that is down to unpatriotic act. The gains made by the government to lower the rate of Dollar should inevitably reflect in the market and elsewhere services are rendered in the country.
There is a claim by those offering goods and services’ insisting that they made purchase of their goods during the time Dollar was high, and cannot sell at the current rate to enable them recover their capital.
But that concept is a deliberate measure to take advantage of the masses. There have been counter claim that they increased prices with the former rate of Dollar (before the dramatic increase) and were quick to increase prices on daily basis, even when they didn’t make purchase as at the time Dollar was high.
Immediately President Bola Tinubu was sworn in, his first statement targeted fuel subsidy and that move triggered a massive surge in Dollar rate. The government was clueless as to how to stop the increase. It took three months for Dollar to skyrocket, and within the time, the country observed decreased import, as importers decided to play the patient game. They knew Dollar would come down once more but nobody knew when it would happen.
The government has worked diligently to tackle the free increasing rate of Dollar, but the market is not reflecting the efforts made so far by the government. The market remains adamant that the former rate is still controlling market prices and would take time to balance the equation. Without the effort reflecting in the market, the effort will not be effective to Nigerians.
The government has not found a measure to control unruly price hike in the market. Those offering goods and services have taken advantage of the situation of not being monitored or held by law to dictate what they want, and not what is right.
The situation has caught the attention of Lagos State government and during a prayer session for the President of Nigeria to commemorate Easter and Ramadan celebrations. He spoke concerning the successful efforts of the government to bring down the rate of Dollar “this needs to reflect in our markets, Naira is getting stronger, better and it needs to reflect in the cost of services”
“People cannot continue to give reasons while it went up and now that it’s coming down, it also needs to reflect in the cost of rice, beans, tomatoes and that is the message for all of us because we want to be our brother’s keepers. We want to ensure that the sufferings of the people is brought to an end” The governor said.
The government is pushing and wants to see the credit of their efforts given to them by Nigerians. And without prices coming down in themarket, the government efforts will be futile
