Dollar Hike: We Are Our Own Problem - Business

Nigerians are perhaps the most opportunistic people on earth. With the recent hike in the Dollar against the Naira at the parallel market, One would think "hoarders" and traders have been praying for this moment to happen. They smile when they sell to you under the aegis of "Dollar has gone up" yet groan and blame Buhari when they themselves buy things they need to survive.

The recent hike in "pure water" price, from Lagos to Benin, to Enugu, one would realize after careful analysis that these people have no business increasing the prices of their products just because they intend to make horrible profits. There's a big difference between ripping off and making profits, and the former is what most have resorted to.

Just recently I called a popular sachet water company in Enugu here to supply me with water that would last me for a month, the owner, whom I spoke with on the phone intimated me that the initial selling price of N80 per bag had been abandoned and the new price is N100. His reason? "The Dollar has gone up". I had no choice but to settle for it, asked him to send his boys over after telling him how many I wanted.

With the heat and terrible atmosphere, I had finished every water in the house while still thirsty. I dashed out of the house to get a bag from a retailer around. The one I had ordered for was taking too long and I couldn't stand it; I couldn't bring myself to wait for the pure water vehicle to arrive.

To my amazement, the retailer just close to the house who had stocked even before the price of N100 per bag came into play told me he sells a bag for N150! "Why?" I mustered strength to ask him. "Are you not in this country?", he quizzed. "You no know say Dollar don cost?", he responded. I simply couldn't believe it. Let's pretend and just give it to him that he had bought his water at the rate of N100 per bag just like I confirmed from the man I spoke with on the phone, why wouldn't the retailer sell for N120 or N130? Why sell with a 50% profit just because everyone around him complains of the Dollar

There are virtually goods cum products in the market that had long been stocked before the Dollar rise and then you discover that their prices jump off the roof all of a sudden for no reason.

It is really saddening that we are the ones making life hard for ourselves. Worst of all, we are very much aware of this but would still not bat an eyelid. I find it baffling that we're quick to hike prices of goods and services and at the end of the day, find it hard to revert to the original price before the brouhaha responsible for the hike came into being. No one is saying profits should not be made, but when it becomes rip offs and cheap shots, then it shows that we are the most inconsiderate people ever. It shows that we are our own problems.