It's been awhile here on Hive, I've been occupied with offline duties, it has been choking and I miss been here. I know I've missed a lot of lovely prompts and the amazing engagements from other Hivers, but it is what it is. I'm glad I'm finally back, well if not fully but partially😀.
The first prompt for this week is an amazing one and I'm glad I'm able to partake in it. It is about the price range, whether the government should regulate it or leave it at the mercy of business owners.
Everyone knows the economy is not smiling at all, Nigerians are striving so hard to meet the end means but the more we strive the more it's becoming tougher. Things are just so difficult to comprehend nowadays cause it's now survival of the fittest.
My beloved country isn't exempted from inflation, it's like we are the leader of inflation because almost everything is stagnant, nothing seems to be working at all.
Although, I'm yet to own a business but I'm envisaging of owning one in the near future but that doesn't mean I shouldn't say what that can bring relief to me and others that are consumers of products.
Price ranges have been a challenging issue for years now especially in this part of the world. The majority of our producers are selfish while the retailers are dubious they always want to earn double, sometimes triple the price they bought from the producers and this has affected a lot of families and different small scale businesses.
When there is no price control business owners can do whatever they like because the power is in their hand and this will affect the stability of the market.
As it is in Nigeria, you can never judge a product by its previous price because the prices keep increasing at the slightest chance, the margin at which prices are skyrocketing is killing.
Source
Whenever one goes to the Market here it's a new price you will meet entirely. The most painful part is that the salary isn't increasing but the prices of products are rising.
Most times it's very difficult for me to write my budget because it's always overwhelming. I always add to the prices of whatever I want to buy all because I know it can't be the same as the previous ones I've gotten.
So with this dwindling of prices I believe government needs to step in so as to help the masses because our survival is greatly at risk. There should be regulations on price of goods, no business owner should sit and postulate prices. The truth is that, most business owners are greedy, they only care about themselves and not others.
Once we have a strictly regulated prices, the market will be stabilized and consumers will be able to budget themselves squarely with the little they earn and those aiming to start up small medium businesses will be rest assured that they are in a good business environment.
