Local market reaction to dollar rise.

[Marvelockg]

Lately we've noticed the increase in the value of the dollar over the naira and we know how within a twinkle of an eye it just affect the price of all the commodity in the market. Before I even checked the current price of dollar to naira today, I observed that an additional 50 naira add been added to the normal transport fee in my locality and it didn't take me long before I heard from commuters that the price of dollar is now at 1500 and something naira and you needed to see the kind of talk it is bringing out in the mouth of marketers that are now very angry that it was going to affect the price of their goods and some have even started increasing the price of the goods that they are selling already.

The thing is that if we depended more on our locally manufactured commodities, the price of dollar would have had little or nothing to do with the economic well being of our country but ones the price of dollar increases, every goods in the country suddenly increase in it value and the citizens becomes very frustrated bringing in so many problems in the country.

Hasn't it gotten to the point when we decide to work more on our local businesses so we don't depend on imported goods and get too worried on whatever value the price of dollar reach?

[OGsmall]

Lately we've noticed the increase in the value of the dollar over the naira and we know how within a twinkle of an eye it just affect the price of all the commodity in the market. Before I even checked the current price of dollar to naira today, I observed that an additional 50 naira add been added to the normal transport fee in my locality and it didn't take me long before I heard from commuters that the price of dollar is now at 1500 and something naira and you needed to see the kind of talk it is bringing out in the mouth of marketers that are now very angry that it was going to affect the price of their goods and some have even started increasing the price of the goods that they are selling already.

The thing is that if we depended more on our locally manufactured commodities, the price of dollar would have had little or nothing to do with the economic well being of our country but ones the price of dollar increases, every goods in the country suddenly increase in it value and the citizens becomes very frustrated bringing in so many problems in the country.

Hasn't it gotten to the point when we decide to work more on our local businesses so we don't depend on imported goods and get too worried on whatever value the price of dollar reach?

I do pity for the importers and exporters because many are going have a lot lost in their businesses
The rate of dollar late when I heard it was really bad because some countries do depend on the rate of dollar.

This should in a lot of disbursement to the market people
When I was reading the morning CBN news my phone I saw a news on how it has affect the business and trader’s


https://www.cbn.gov.ng/out/2012/ccd/cbn%20jas%20vol%202%20no%202_article%20one.pdf

[Barikui1]

My brother as e be so, by the look of things, this Tinibu government dy carry us go where we no know oo, and before this year end, 1dollar fit reach #2500 , so na only God fit help this country for the kind tight corner we dy enter daily.

Talking about how our local marketers dy react to dollar increase, see to tell you the truth, no body dy happy at all, because dis current situation dy make people wey no get enough capital go out of the market because, everytime you go market to restock your shop, price of things go always add up, and you no go fit buy so many things if you no get another money else where to put inside the business.

So as e be so, many people shop don empty because dem no get extra money to take refill there shop, so some people dy even dy shame to dy open empty shop daily, wey dy make most of them close down.
Another thing wey I believe say dy worry us pass even dollar increase na price of fuel, desiel and kerosene, because na all this tins be the mechanism just as oyibo man call am, dy drive our economy forward, so as e come cost too much and out of reach, e go dy really difficult for our economy to return back to normal.