NIGERIA: RISE IN DOLLAR LEADS TO INFLATED MANGO PRICE

NIGERIA: RISE IN DOLLAR LEADS TO INFLATED MANGO PRICE

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 NIGERIA: RISE IN DOLLAR LEADS TO INFLATED MANGO PRICE 

– Nigerian consumers complain of exploitative price of mango

– Mangoes now grow on USD in Nigeria?

 NIGERIA: RISE IN DOLLAR LEADS TO INFLATED MANGO PRICE
Mango Stall in Nigerian Location

 NIGERIA: RISE IN DOLLAR LEADS TO INFLATED MANGO PRICE

Currently, Nigeria as a country is traversing a whole troubadour of economic crisis. The economic balance of the country under under the Muhammadu Buhari led administration is no doubt undergoing a tumultuous swing.

Though the present economic chaos in Nigeria could be traced to a number of causal factors, it is most evident that the recent rise in the United States Dollars is one big cause. The impact of the wide margin between the Naira and the Dollars has been felt and telling in various sectors of the Nigerian economy. This has really been alarming.

The fuel scarcity across the federation is one big wreck which the rise in dollar has bequeathed. However, most astonishing is the sudden geometric rise in the price of such local commodities such as Mango.

While the recent Dollar palaver has taken a swift turn at seldom such goods as sachet water, razor, pen, exercise books, pencil, salt, candle, wood, etc are patronized. The price tag of these goods has abruptly tended towards the rising nature of the USD such that mango traders in Nigeria have also fittingly adjusted to the trend.

Before the present margin of the USD to Nigerian currency came on this year, mango was considered a fruit for children. About three pieces of mangoes were sold for ten Naira, at last.

NIGERIA: RISE IN DOLLAR LEADS TO INFLATED MANGO PRICE

Even at that, it was understandable that many Nigerians have shown some level of discomfort. To many Nigerians, Mango is almost a free gift of nature. As such, many would not consider the mango a marketable commodity.

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However, with the twist in the Nigerian economic situation, as informed by the USD, Mango has become goods for the rich. A flesh of mango in some areas of Ife of Osun, Nigeria, now sells at 30 Naira.

In some places, three pieces of this fruit now go for 50 Naira. Even adults can no longer communize a mango, not to talk of children affording a piece of its flesh a day.

When one of these mango traders was asked why the sudden rise in the sale of mango, the shocking response was ‘’dollar has risen.’’ In fact, nearly all the mango traders in the Ile-Ife area of Nigeria have this for answers.

The question one should ask is: what is the correlation between the USD and the Naira with the inflation in price of mango. Or when has mango begun growing on dollars?

Of course, the dollar would never turn a riverbank or soil for the growth of mango. It is very clear, presumably, that these bunch of traders are taking advantage of the present economic situation.

After all, no material was imported into the country by Nigerian farmers to grow this commodity. However, it might be understandable that fuel is increasing in price by the day.

As such, the cost of transporting mango to the market has greatly increased. Still, it is baffling how the USD versus Naira issue will be an all-time excuse for the exploitation of consumers in the Nigerian societies.

 NIGERIA: RISE IN DOLLAR LEADS TO INFLATED MANGO PRICE