Coronavirus has Caused Inflation in my Dear Country.
I went to my supplier with the intention of re-stocking with the little change I had with me, I was surprised at the alarming price increase. I also went to the market to buy food stuff and seriously the price rate has increased tremendously, it had become something that one could almost not afford, during the pandemic it was predicted that they may either be an inflation or deflation but this inflation is really high in my country.
The law makers are trying to make a law that will bring down the price of this food items which in the real sense is not practical, imagine the cost of producing a bag of salt costs $40 and it is sold to the market at $45, if the government is giving a law that the bag of salt must be sold at $25 in the market, then definitely the salt producer will have no other option than to close down business and this will definitely result into scarcity of that product.
Food is a major item for Nigerians since majority of its population are those who literally feed from hand to mouth, if feeding is made more difficult in our dear country, then we might just have more death rates. The number of jobless people are practically increasing every day and this for business owners also signifies low sales.
Now that the government is trying to make school resume fully, some parents are lamenting that even if schools are to resume their children might need to stay back at home since for workers the worth of the salary received can almost buy nothing and for those who run their own business the profit is greatly reduced. I think the recession we all fear is here already and no one seem to know when this recession is going to end.
I have spoken to few of my customers on the reason why they have not been patronizing my store like before and the story has remained the same on their lips, the same story is how coronavirus has affected them financially and they barely have anything to eat so they just try to manage and look for ways to survive. Things are getting extremely difficult in this part of the world, when the inflation rate of a country becomes very high, we know we are in serious trouble.
The rate of theft in the country is increasing tremendously, the annoying part of it is that these thieves are stealing from those they think are self-sustainable in the country and in the real sense those they are stealing from do not even have enough, the reality is really sad over here and I hope that a solution is found to help the situation soon.
