Most Nigerians anticipate an increase in the prices of goods and services as festive season approaches. This article will open our mind to why this is so and how we can avoid this unnecessary fluctuation in price.
As another end of year festivity approaches, Nigerians are looking forward to the celebrations that come with the season and the time off to relax before kick-starting the New Year. In addition, the current economic recession facing the country maybe an impediment to the level of satisfaction citizen will enjoy during this festive season as most Nigerians would say they will minimize their end of the year spending, and some will say it will increase their end of the year spending amongst other factors.
Research has shown that majority of Nigerians (77 percent) anticipate a general increase in the prices of goods and services during this festive season and 51 percent of this proportion specified that food item would mostly increase.
However, most Nigerians don’t understand the reason why the prices of food products increase when the festive season approaches. I will be explaining three major reasons why the price of food item rises during this period
Demand and supply.
The purchasing power of consumers generally increase during the festive season, perhaps, because they will have to feed themselves, families and friends, therefore, the demand for food product of an average Nigerian increases during this period.
Production and/or supply also increase during the festive period. For instance, farmer that produces 100 chicken in off-season, increases it production as festive season approaches because of high demand. However, the demand for some food product exceeds supply or production which invariably result to in increase in price of some food product.
Cost of transportation:
During this seasons, many town and cities are emptied as most people who have moved to the cities return to their ancestral home towns and village to be with their family they may not have opportune to see in the entire year while living in the city. In our experience, some Nigerians prefer to travel before the festive period due to high cost of transportation and huge traffic. During this festive period, there is usually huge traffic which cause drivers to increase transport fare. This increases the cost of production and therefore, increase in price of food product.
Sellers’ greed. Lack of price control cause many sellers to ridiculously increase the price of food products for no reason. In fact, some sellers will hoard their product so as to sell them for ridiculously huge amount as festive season approaches.
In conclusion
To avoid purchasing food product at ridiculous prices during festive season, you can order for all your food product at www.daydone.com.ng at a very cheap price during this period and it will be deliver to you.
Christmas in Nigeria as usual, is a time of celebration and reconnection, the experience is always an unforgettable one.
DayDone wishes you all a merry Christmas and Happy New Year in advance.


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