The aim of an entrepreneur is profit maximization, and by extension, every farmer is happy when he rakes in more money from his farm produce.
Another wildly believe theory in Economics is, price rises in the face of rising demands.
Statistics has shown that the price of foodstuffs in the country rose sharply by almost 100% between June and August, 2023, after the National Economics Council approved the Disbursement of Five Billion Naira each to State Governments for the purchase of Grains as Palliative for distribution to citizens. Since then, the price of commodities in the market has continued to rise without obstruction. Farmers and middle men took advantage of the Bulk purchase by the Agents of Government, who in most cases inflate the contract sum to increase their prices, at the detriment of the common man, who in most cases don’t benefit the food distribution initiative by government.
The initiative of Government to crash the price of foodstuffs in the country is a welcome development and the right way to go in this trying times on most homes in Nigeria. To effectively carry out that task by the committee, the idea of food distribution as palliative must be stopped forthwith, and channel the funds been given to state governments, to a temporary importation of grains such as Rice, Maize, Beans, Sorghum etc, so as to flood the market and sell same directly to our local traders. In doing so, the price of foodstuffs will be reduced to the reach of the common man.
We must always reminded that the primary responsibility of every government is welfare and protection of her citizens.
The time to act is now.
– Comrade Opaluwa Eleojo Simeon (BSc, MSc, Criminology and Security Studies).
