“We Are Our Own Enemies”: Man Breaks Silence as Dollar Crashes and Food Price Remains the Same

• A man sparked a debate by criticizing the lack of price adjustments in Nigerian markets, despite a drop in the dollar rate
• The complaint highlights a common frustration with market vendors who are accused of not reducing prices even when the cost of restocking has decreased
• The issue has raised concerns about the transparency of market operations and the economic impact on consumers

In a recent outpouring on social media, a concerned citizen voiced the frustrations felt by many Nigerians regarding the persistent high prices in the market, despite the stabilization of the foreign exchange rate.

The individual, known as @Oladapomikky1, sparked a heated debate with a poignant statement:

“We are our own enemies. If this is not yet reflecting on the market prices with so many inglorious excuses then we ourselves are not honest people.”

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This sentiment echoes the broader discontent among consumers who have noticed that, although the dollar rate has dropped from its peak, the prices of commodities remain unchanged.

Market vendors have been accused of restocking goods during the dollar’s peak times and failing to adjust prices when the exchange rate falls, a practice that raises questions about the transparency and fairness of market operations.

The issue has ignited discussions on economic ethics and the responsibility of vendors towards their customers. As Nigeria grapples with economic recovery, the integrity of market pricing remains a critical concern for the average consumer.

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Young lady gives reason for rise of dollar

Meanwhile, Legit.ng earlier reported that a young woman shared her insights on the possible causes of the dollar’s rise in the Nigerian market in a TikTok video that went viral.

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As shared by @flowbizness, she explained the economic factors that influenced the value of the dollar in a simple and engaging way.

She said that the first cause was the high demand for the dollar, as people wanted to buy it for various reasons, such as travelling, investing, or saving. The second cause was the low supply of the dollar, which made it scarce and valuable, as the Nigerian government made regulations that often affect prices.

Also, a Nigerian lady shared her experience at the bank where she had gone to exchange her US dollars.

Source: Legit.ng