In this era of hyper-inflation, we can't rule out the influence of speculative selling - a situation where sellers deliberately increase the selling price of a commodity due to a number of economics factors, whereas the middlemen have not effected a chnage in the actual price of the item.
The retailers are definitely guilty of this. At a time like this when the tides are down and people trying to exist, what comes to the mind of the average trader is how to further milk the degraded buyer of his meagre earnings.
It is time all woke up to face the obvious reality. While we swim along like a people without a leader, it is necessary foranufacturers to price tag their products. Even where that is done, the lawlessness of the average Nigeriantradet comes to bear.
Check out those selling printed recharged cards. No one in my area see)s 100 naira airtime for the sampled amount. Recently, the prices of cement noticeably skyrocketed. Even retail price of ordinary pure water has trippled. Traders who buy 20 satchets of pure water as 300 naira are solidly selling same at 50 naira per sachet, i.e. 1000 naira. The consequences?
Manufacturers will push up their selling price. The vicious cycle persists. Everyonee blamed it on the inflation.
The government must be bold enough to investigate the profit margins derived by these traders.
There is also the need to design an appropriate profit margins for the traders.
Here's is what's accepted as a decent margin.
10% of the cost price .
5% is considered rather low.. while 20 % is on the high side.