Simply defined, inflation is a period of too much high prices of goods and services. In other words, prices become so high that goods and services are no longer affordable. Patronage shrinks in consequence, as selective purchases of only necessities prevails.
Businesses of products of status symbol close up, as many can no longer afford the prices of their products.
Dealers on perishables stand the highest risk, as they will be forced to sell at losses. Or lose their entire stock to deterioration over short periods.
Minor products and edibles for children, like biscuits, groundnuts and the like, become useless. As provision of daily food takes priority consideration.
Those in such trade automatically close shops. Face hunger and indulge in immoral life styles to make ends meet.
The women become easy prey as odalisques and trade themselves to have mere daily bread! The men join robbery and kidnapping gangs to extort money from innocent citizens.
However it is considered, the game is never worth the candle in the long run. Everybody loses by hiking prices and making lesser gains in the final analysis.
This is the situation in Nigeria right now. The sitting government should know that the situation on ground is not political, but social and economic. Therefore, making political speeches and promises that never solve the biting problems, is like pouring fuel into a gutting fire!
Cost of running businesses is at its highest. Many businesses have closed down in consequence.
Hunger and death are the dreaded monsters roaring about and devouring citizens!
This Government must open all borders and allow people to import food items from wherever they could be found!
Only a stich on this time, without further delay, will obliterate this menacing handwriting on the wall.
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