How to reduce the price of goods

[safar1980]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

Maybe it is not about reducing the price of goods but more about increasing the purchasing power globally? Look at Switzerland, they are one of the most expensive nations in the world, but they are earning as much as the yare spending, sure there must be some poor people there too, but they are making insane amount of salary compared to rest of the world, which means that even a minimum wage worker there, even someone who other nations "deem" bad and low income stuff, can buy whatever they want globally.

Look at Norway, look at Japan, all these nations make a lot of money even though their expenses could be huge, that means it is not about reducing the price of goods, let them be expensive if you have to, but make people richer.

I haven't been to Switzerland, but I think there are inexpensive clothes and products there. There are very expensive real estate, real estate rentals, insurance and services that people often use. And if you work remotely in Switzerland, you can choose many countries for a good and comfortable life.

[abel1337]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

Maybe it is not about reducing the price of goods but more about increasing the purchasing power globally? Look at Switzerland, they are one of the most expensive nations in the world, but they are earning as much as the yare spending, sure there must be some poor people there too, but they are making insane amount of salary compared to rest of the world, which means that even a minimum wage worker there, even someone who other nations "deem" bad and low income stuff, can buy whatever they want globally.

Look at Norway, look at Japan, all these nations make a lot of money even though their expenses could be huge, that means it is not about reducing the price of goods, let them be expensive if you have to, but make people richer.

I haven't been to Switzerland, but I think there are inexpensive clothes and products there. There are very expensive real estate, real estate rentals, insurance and services that people often use. And if you work remotely in Switzerland, you can choose many countries for a good and comfortable life.

This is the advantage of high cost of living, high salary countries, you have the option to live somewhere where the cost is living is low just like in Bali Indonesia. There are foreigners who are living for good there given that they can spend the luxury life they can't afford in their own countries. Having a work from home set up is a blessing to many people, it's just that not everyone can have the same set up. Sometimes living in another country make your cost of living very affordable. One way to enjoy life.

[arallmuus]

to reduce costs things need to get back to local markets and have competition to make the large multinational companies have to lower their prices or have their produce not bought.. basically de-monopolise the market

There are also some virtue of having all those huge companies which is the employment rate is going up as well. By demonopolizing the market from this companies, that also means they need to cut some of their workers thus creating huge gap in employment rate which could affect the country in bigger scale which is also why some countries are pretty lenient on bending their law for these type of things

Well at some point having all those companies around also means that there will be tons of goods produced so the country doesnt need to worry about the lack of goods products supply for the country

[qwertyup23]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

Oh that is just very unfortunate to hear.

When a business owns several factors of certain products, they have full control over the prices of goods on the market. Since there is no competition at all, they have all the discretion whether to increase/decrease their prices since customers would always be compelled to buy such products/goods to them. This is the reason on why competition is highly recommended- but it must be a "healthy" competition to preserve the economy and market.

If the Nigerian government supports this monopoly, then it speaks on how corruption works on your country. I just hope that there will be change that is enacted to counter and address this very difficult issue as this can cause a financial turmoil to everyone.

[franky1]

to reduce costs things need to get back to local markets and have competition to make the large multinational companies have to lower their prices or have their produce not bought.. basically de-monopolise the market

There are also some virtue of having all those huge companies which is the employment rate is going up as well. By demonopolizing the market from this companies, that also means they need to cut some of their workers thus creating huge gap in employment rate which could affect the country in bigger scale which is also why some countries are pretty lenient on bending their law for these type of things

Well at some point having all those companies around also means that there will be tons of goods produced so the country doesnt need to worry about the lack of goods products supply for the country

the big agri decades ago turned multiple FAMILIES manual labour farms into one single harvester driven plot of land. where by XXX people working turns to just 1-2.. this WAS the 'efficiency cost saving' that helped decades ago to produce cheap food, but made hundreds of thousands of locals displaced and jobless, losing their land and culture.....(but thats a whole different debate for another time)..  but it is now the international market price speculation of inflation that has caused retail price rises.. so now FAMILY owned farms could come back and toil land again and grow crops and make produce for locals cheaper

[khiholangkang]

OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.

All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.

[Juse14]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

When a country still depends on the government system to be able to solve existing economic problems. So what we need to pay attention to is the policy of the government itself. Because government policies have a huge influence on the country's economy and the government also has full control over these policies, it is necessary to supervise and guard the policies issued by the government, because sometimes a policy is considered good for advancing the economy of a country. However, the result is that this policy is still unable to solve existing economic problems because in reality the implementation of this policy has not been optimal so that the expected goals have not been achieved.

This is very different from America, where even though the government system is dilapidated, this does not really affect the country's economy, because there is a system that plays a role behind the existing government system.

[LogitechMouse]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

Well, government is involved so... yeah there's nothing that you can do with that I guess.
After all, you are being given a power to vote for your president, and yet you are still voting the wrong one... or I guess it's safe to say that there's no correct one in the list.

Monopoly, followed by lack of resources, and of course inflation. I guess these are the reasons why prices of not only goods, but everything is increasing. Government don't want competition because that might affect their profit. If there's another competitor on a business that they're supporting with, unfortunately they will try to do everything just to shut it down. After all, they have the power to do it since they're the authority.

[HONDACD125]

OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.

All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.

I think how can a government support people who create problems for their people,This may happen in poor countries but such monopoly cannot be allowed in developed countries.Whose responsibility is to stop such people who create problems in the country's conditions and things, if the government supports these people, then who will take steps to stop such monopolistic people.

In my opinion, we should not support the government to take action against the monopolists, but the government should support the people, that they should raise their voice against such people, not support those who create problems for them,and mark such people so that the government can take action against such people.All governments have a responsibility to protect their people from all kinds of problems.

[Lantind]

OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.

All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.

I think how can a government support people who create problems for their people,This may happen in poor countries but such monopoly cannot be allowed in developed countries.Whose responsibility is to stop such people who create problems in the country's conditions and things, if the government supports these people, then who will take steps to stop such monopolistic people.

In my opinion, we should not support the government to take action against the monopolists, but the government should support the people, that they should raise their voice against such people, not support those who create problems for them,and mark such people so that the government can take action against such people.All governments have a responsibility to protect their people from all kinds of problems.

Resources that are managed by only a few people will certainly create unstable prices in the market and this will really make people with low incomes unable to meet their needs they do unsportsmanlike things in trading because they collaborate with some unscrupulous policy holders so they can do it easily. You are right, the Government must use its policies well so that small entrepreneurs can still use their capital to run their businesses, not only use their policies for certain groups so that entrepreneurs with small capital cannot buy goods for them to resell because the prices of goods are very high.

[blckhawk]

Reduce the cost of logistics, that's the biggest reason why food costs or any product that needs to be transported have an increase in price, if we were to make the logistics shorter or efficient or cheaper, we might be able to produce a result that will reduce the price of any product. Imagine if there are Bugatti factories in my country, the price would drastically go down to a buy a Bugatti because there's no need to import one which is really expensive to do.

[slapper]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

When a country still depends on the government system to be able to solve existing economic problems. So what we need to pay attention to is the policy of the government itself. Because government policies have a huge influence on the country's economy and the government also has full control over these policies, it is necessary to supervise and guard the policies issued by the government, because sometimes a policy is considered good for advancing the economy of a country. However, the result is that this policy is still unable to solve existing economic problems because in reality the implementation of this policy has not been optimal so that the expected goals have not been achieved.

This is very different from America, where even though the government system is dilapidated, this does not really affect the country's economy, because there is a system that plays a role behind the existing government system.

Like you mentioned, if a nation is depending on the government to solve its economic problems, then, such policies should be investigated. Policies - they may either lift the country up or simply hammer it down. The truth is that not every policy that seems promising is effective. Sometimes they are all show and no go. On paper, they seem great, but in reality? They cannot fight their way out of a wet paper bag. Just dead in the water.

Oh well, the government is all over the place, but guess what? The state of the economy is "I do my own thing, thank you very much". Another machine working in the background keeps everything from sinking. A mess? Sure. But despite being a mess, it functions in a peculiar way. So, pay close attention to such policies. And sometimes? You must be honest and say that everything is all messed up.

[jasonjm]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

The prices will be stabilized when there are more distributors in the market. When there is competition in the market, product quality as well as services will also improve. Single distributors can change the prices at will. To reduce this monopoly, the government should play its part. They should make new rules and invite more people by making laws to protect their investments and increase the ease of doing business. It is also important that locals should record their protests against these issues.
At the moment, inflation is a global phenomenon, and every country in the world is facing this issue due to increased energy and oil prices. But, governments should play their role to ease the suffering of their citizens. 

[Smack That Ace]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

The prices will be stabilized when there are more distributors in the market. When there is competition in the market, product quality as well as services will also improve. Single distributors can change the prices at will. To reduce this monopoly, the government should play its part. They should make new rules and invite more people by making laws to protect their investments and increase the ease of doing business. It is also important that locals should record their protests against these issues.
At the moment, inflation is a global phenomenon, and every country in the world is facing this issue due to increased energy and oil prices. But, governments should play their role to ease the suffering of their citizens. 

The fiercer the competition between businesses, the more consumers benefit and that is why developed countries like Europe hate and oppose monopolies. This is basic knowledge that even a 3 year old child can understand, the government is not stupid enough to not know that. But in third world countries, where the government stands behind some businesses to monopolize certain goods, it will be a serious problem for the people. Therefore, people's protests or objections will have no effect other than forcing them to reluctantly accept its use.

[justdimin]

Certain things are easier to reduce, but you can't make it all for everything. Like even if we talk about something as simple as vegetables, one nation can't have ALL vegetables for cheap, your climate and soil quality matters and even though you could have some of them for cheaper if you work harder and smarter, no matter what you do some of them will stay expensive because it is not your nations product.

Like for example in my nation it is nearly impossible to raise mangos, that is not really a bad thing, I can't care any less about that, not like I need mango in my life, BUT it is still a thing, so you can't make it cheaper here. You have to consider what is possible and only focus on those things to make them cheaper.

Yeah this sounds like a good approach, not every nation could drop it for everything, but as long as you can drop it for the bare minimum stuff for your nation, that would be good enough. Some nations have cheap rice, some have cheap pasta, some have cheap bread or meat, or some nation could have cheap broccoli, it doesn't matter what it is, it doesn't matter which type of food we are talking about, as long as there are few products that are incredibly cheap, people could have an alternative.

Sure you can go for the expensive one if you want to, that is your own option if you prefer that and have the money for it, but for poor people there should be a few good cheap products they can consume without getting broke to buy them.

[khiholangkang]

OP If the supplier of the goods monopolizes the market will be very difficult to reduce the price because he is the only distributor for procurement of goods, especially since the government supports the actions of that, of course it will be very difficult in your country, there is no competition so the provider of goods will be very arrogant In playing the price at will, that is the impact of the market monopoly.
Government support also makes them act arbitrarily which makes small competitors immediately killed easily.

All you have to do is encourage the government not to support this monopoly, and market regulations must be updated so that everything can run fairly as the market has a lot of competition as a controller of the price of goods is not excessive.
This will be much more difficult in the future if it continues to leave, I hope you can start a movement with the community and entrepreneurs affected by this to break the monopoly in your country.

I think how can a government support people who create problems for their people,This may happen in poor countries but such monopoly cannot be allowed in developed countries.Whose responsibility is to stop such people who create problems in the country's conditions and things, if the government supports these people, then who will take steps to stop such monopolistic people.

In my opinion, we should not support the government to take action against the monopolists, but the government should support the people, that they should raise their voice against such people, not support those who create problems for them,and mark such people so that the government can take action against such people.All governments have a responsibility to protect their people from all kinds of problems.

Resources that are managed by only a few people will certainly create unstable prices in the market and this will really make people with low incomes unable to meet their needs they do unsportsmanlike things in trading because they collaborate with some unscrupulous policy holders so they can do it easily. You are right, the Government must use its policies well so that small entrepreneurs can still use their capital to run their businesses, not only use their policies for certain groups so that entrepreneurs with small capital cannot buy goods for them to resell because the prices of goods are very high.

I understand you very much and indeed for the front guard stopping this is the government as the holder of the policy and power in the country, but the problem is like what is conveyed by the OP is the government that gives support to the monopoly actors, it is clear, surely behind the support carried out by the Nigerian government there must be a profit/ bribery transaction to the government to give freedom to entrepreneurs who carry out this monopoly.

Then where do people have to run and complain? then tactically the community must carry out massive demonstrations when there is no place to complain, in a democratic understanding when the authorities no longer prioritize the sovereignty and welfare of the community, the demonstration is a step to voic the aspirations of the community to urge that the government makes a fair policy to eliminate entrepreneurs which monopolizes the market in Negeria.

[xSkylarx]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

The prices will be stabilized when there are more distributors in the market. When there is competition in the market, product quality as well as services will also improve. Single distributors can change the prices at will. To reduce this monopoly, the government should play its part. They should make new rules and invite more people by making laws to protect their investments and increase the ease of doing business. It is also important that locals should record their protests against these issues.
At the moment, inflation is a global phenomenon, and every country in the world is facing this issue due to increased energy and oil prices. But, governments should play their role to ease the suffering of their citizens. 

The fiercer the competition between businesses, the more consumers benefit and that is why developed countries like Europe hate and oppose monopolies. This is basic knowledge that even a 3 year old child can understand, the government is not stupid enough to not know that. But in third world countries, where the government stands behind some businesses to monopolize certain goods, it will be a serious problem for the people. Therefore, people's protests or objections will have no effect other than forcing them to reluctantly accept its use.

Its because governments are getting money from those businesses that they protect and with exchange they can monopolize some goods and even price them by hoarding goods that people or consurmers are struggling with. They aren't thinking of people they are only after their profit and this is the reason why the economy of the country is not improving because of this kind of corruption. No matter how you protest if they are still getting elected every election it is still useless as they are always carried away when a politician gives them money.

[Blowon]

the most reasonable reason is so they can compete with their business rivals. Unfortunately this is quite dangerous for small traders who sell the same product from different factories. they may not be able to drop prices because they are constrained by the capital they have. but if you don't lower the price there is usually very little buying interest. That's right, this is actually a monopoly of those at the top.

[Dimitri94]

I have been thinking and trying to analyze what is really causing the high cost of food in Nigeria, I came to realize that monopoly is the major factors, Nigeria government are the enablers. How can one person be the sole major distributor, government should welcome competition in the business sector, every business person should be allowed to produce.

If there is no competition in business then it is not possible to get better service and if the government selects any of its nominees only for a specific business, then syndicates will be formed and the price of the product will increase. Not only Nigeria but the government of every country should create competitive services in all types of business so that the people will get better service there as well as the government can benefit. But at present, Some governments of different countries are not able to coordinate well in those areas, so it is not possible to stop the upward movement of goods.

[Broly46]

Reduce the price just to benefit someone else, it is not how a fair market work. Obviously you can make them reduce the price when you have armed force, the traders who is helpless but to give their valuable away at loss, or even free of charge! Even an animal know how to negotiate in the wild and get the food for free, you see how the tiger work very hard to hunt down the wild deer during the daylight, all of a sudden a lion appear and steal all the show, and took all the meat for himself, the tiger have no choice but to give up his lunch to the big bully lion.