Monopoly as one of the major Nigeria problem

[odunybiz]

Monopoly is a market structure where a single entity controls supply, pricing, or access of a particular commodity. Some sections in Nigeria has suffer a hike in price of it item due to the monopoly nature of the item. This in one way or the other has contributed to the cause of inflation within the country. With monopoly, few selected individual are enriched leaving the rest in poverty.

Below are examples of monopoly that has affected citizen within the country either directly or indirectly:

Telecommunications: MTN was the first and only network in Nigeria at the early 2000s.  Then, just buying their sim cost very high. After some years, other network like Glo, Airtel and others came. This bring a competitive market into the telecommunition system and made the price of everything in the telecommunication system come down to the extent that almost everybody (including the kids) in the country can avoid it.

Dangote cement: Dangote is the largest manufacturer of cement in Nigeria and this has made it easy for him to control over the market prices. Increasing the prices at his own convenient.

Digital Satellite Television Nigeria (DStv): This is another monopoly firrm that controls the pay-TV market. They had no competitor and this made it easy for them to increase subscription rate without any justification.

Dangote petrol: Dangote was believed to has come into the petroleum section to help stop the monopoly of petrol brought by NNPC before the existence of Dangote's refinery. But seems Nigeria Petroleum section is still under monopoly as petrol price is now majorly controlled by Dangote.

 CONCLUSION:
Monopoly may be good in business for the businessman, but it is disastrous when it comes to politics and governance. It add to the struggles of the citizen as price of such items is been controlled by an individual leading to increase in price without any justification. Imagine what will become of DSTV if we have like 5 more firm that run similar service.

[DYOR+BTC]

Any country with hope of going above average in all rectification especially in development, is never supposed to operate in a monopolise economic system except they are operating in a system where the government regulates the prices of commodity in regards to the choice of citizens. The main reason i speak against monopoly is its mode of operation where autonomy is given to a specific set of people, denying the labour market access for competitions as commodities will only be produced by the monopolist and he alone decides how products are distributed and it must be only to his favour

[Majestic-milf]

 The funny thing with monopoly be say e go come lose e power the moment competition come up but at the same nah very bad thing since before the competition go come up, this sole trader or business person go don milk the masses and them no go fit complain or go another place.
 In short, a monopolistic situation dey leave no room for the consumers to enjoy much because then nah the period wey the trader feel say him hold much power over their choices and if you notice, some of them no go wan like make room for other people wey dey do the same thing as them because e go mean say them no go fit influence price, goods, or even the quality of the product like them want.
Nah true say monopoly no big issue for naija and this no be something wey we fit rely on the government alone to change because if you look am, them self dey monopolistic in their approach to some certain things for example; the distribution of power to the nation; them no wan care whether people fit turn to using generators or solar systems because them know say at the end of the day, people go gats pay for the bill and their pockets go continue to swell.

[Africolo]

The funny thing with monopoly be say e go come lose e power the moment competition come up but at the same nah very bad thing since before the competition go come up, this sole trader or business person go don milk the masses and them no go fit complain or go another place.
 In short, a monopolistic situation dey leave no room for the consumers to enjoy much because then nah the period wey the trader feel say him hold much power over their choices and if you notice, some of them no go wan like make room for other people wey dey do the same thing as them because e go mean say them no go fit influence price, goods, or even the quality of the product like them want.
Nah true say monopoly no big issue for naija and this no be something wey we fit rely on the government alone to change because if you look am, them self dey monopolistic in their approach to some certain things for example; the distribution of power to the nation; them no wan care whether people fit turn to using generators or solar systems because them know say at the end of the day, people go gats pay for the bill and their pockets go continue to swell.

One of the problems we are facing in Nigeria that has skyrocketed the prices of goods in the market is monopoly, a case study of cement and other plaster rubbers we have, before now we have other vendors of cement in the country and because of that the price of cement was at an affordable rate, but since Dangote came into limelight he Monopolize cement and became the only producer of it and we can all see the effects of it on the economy and the masses, we can no longer afford to buy a bag of cement, monopoly is an assassination of economic growth in the country.

Even the Solar are not quite easy to afford because it's expensive and it's not everyone that can afford it, all the government needs to do is make the market open to all business men and stop monopolistic approaches that will affect other producers making them not to be able to compete due to high prices in production, if the likes of Dangote has other competitors he won't be increasing the prices of his cement on daily basis making it difficult for the poor to afford.

[LOVER BOY 422]

The funny thing with monopoly be say e go come lose e power the moment competition come up but at the same nah very bad thing since before the competition go come up, this sole trader or business person go don milk the masses and them no go fit complain or go another place.
 In short, a monopolistic situation dey leave no room for the consumers to enjoy much because then nah the period wey the trader feel say him hold much power over their choices and if you notice, some of them no go wan like make room for other people wey dey do the same thing as them because e go mean say them no go fit influence price, goods, or even the quality of the product like them want.
Nah true say monopoly no big issue for naija and this no be something wey we fit rely on the government alone to change because if you look am, them self dey monopolistic in their approach to some certain things for example; the distribution of power to the nation; them no wan care whether people fit turn to using generators or solar systems because them know say at the end of the day, people go gats pay for the bill and their pockets go continue to swell.

I understand that monopoly is also one of the factor that is bringing Nigeria down , even in government in the market all this continues because the government of the country layed a bad foundation right from time ,if it's outside country if someone is selling a particular product they have the lane where many of them selling it will be in that situation they have tackle and kill monopoly, but in Nigeria here they allow anyone to be selling their by bringing problems to one another

[Biirakedee]

Any country with hope of going above average in all rectification especially in development, is never supposed to operate in a monopolise economic system except they are operating in a system where the government regulates the prices of commodity in regards to the choice of citizens. The main reason i speak against monopoly is its mode of operation where autonomy is given to a specific set of people, denying the labour market access for competitions as commodities will only be produced by the monopolist and he alone decides how products are distributed and it must be only to his favour

Yes hundred percent, monopoly can limit competition and when it’s just few people that control’s production and distribution, it often leads to higher prices of commodities. Competition is very important because it helps and pushes business to do better and keep things fair in the market but at the same time not all Monopolies are entirely bad sha o because some sectors may need to apply strong regulations or even limited control to function properly. The key thing is having proper regulations and fair competition.

[9ja Amaka]

Monopolistic market is never the way forward for any society, because it definitely affect the society.  A Monopolistic market system is where their is only one producer and many buyers. This type of system gives a lot if power to the producer, because they control the price and also the quality of product, which is very bad for the society.  A society that want to develop,  should detest this market system,  because it will not improve or develop such society, rather it only enriches the producer. The best should be a competitive market system,  where we have a lot of producers and buyer . This type of market system can not be controlled by one person and it will also allow for a better quality of products.