By Mohammed Bello Doka
As the value of the dollar against the Naira hits a staggering N1343.88, concerns arise regarding its impact on the prices of goods in the market. Despite the plummeting dollar, the prices of goods remain stubbornly high, prompting questions about the disconnect between currency fluctuations and consumer prices.
In the past, when the dollar was on the ascent, it seemed correlated with the rising prices of goods, inviting criticism, particularly directed towards APC/TINUBU. However, as the dollar now experiences a downward spiral, there is a conspicuous silence on the matter, accompanied by the absence of any significant reduction in commodity prices.
This discrepancy underscores a crucial point: the blame game targeted at political entities might not always be warranted. Rather than attributing every economic challenge solely to government policies, it's imperative to recognize the role of other stakeholders, particularly within the business sector.
The current scenario goes beyond mere volatility; it speaks volumes about the prevailing economic landscape and the practices within. The failure to witness a proportional decrease in prices alongside the depreciating dollar highlights the need for introspection within the business community.
Ultimately, the narrative shifts from laying blame solely at the feet of the government, particularly the APC, to a broader acknowledgment of collective responsibility. It's a call for transparency, accountability, and a concerted effort to address the underlying issues contributing to economic disparities.
In the face of these challenges, may there be a collective resolve to navigate towards a fairer, more equitable economic environment, where the interests of the people are safeguarded, and prosperity is attainable for all.
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