Poorly planned innovation a major cause of inflation.

Good morning fellas!

The high rate at which products price continue to increase is scary. And no one is doing anything to fight it. Prices of foods and other products keep rising from time to time. Six years ago who would have believed that a single egg could cost up to 60-70Naira. Groundnut oil today costs 4-6 times the price it was 10years ago.

Today a small income earner cannot afford to buy rice for his families because a bag of rice is almost equal to his monthly income. Even water is expensive these days. And what's worse is majority of workers income is not changing at any considerable rate, some is not even changing at all and even getting worse by the day.

Just look at it this, how would people feed themselves if the food available in the market costs more than they are earning? How would they feed themselves and their families, how would they pay for their children's education, how would they pay for their health care, what about their rent and other necessary bills? How are they going to cater for these expenses if their monthly earning is not even enough to feed them for a while month? It is horrific.

It's strange and disappointing that no one is fighting to solve these pressing issues, yet everyday new entrepreneurs keep coming into the market creating new businesses. But I guess is because Nigerian entrepreneurs are not creating businesses with the aim of solving societies problems. Rather they creat businesses with the sole aim of getting richer by the end of the year. Terrific.

If only they will look deep into the market, into the society and see the biggest struggle that people face and then try to see what is causing such problem and then strategically find a way or try to innovate a business that could solve such struggles, would they not have made more profit.

Take fish and egg for instance, why is egg too cost and sold for 60-80Naira each? If you ask poultry farmers they'll say chicken feeds and drugs is expensive. And yes chicken feeds has skyrocketed in recent years. But why is the price of chicken feeds high today,what is the cause? This is the question farmer should be asking themselves and not just ask the question, try to cultivate an idea that can be practically applied in order to solve this problem. If we know the cause of a problem then we can easily find a way to solve it.

To solve a problem we must first know the cause of the problem, and then formulate a solution. If chicken feeds is too expensive why can't we find a substitute or produce a different type of feed at a lower price but as well effective or better.

The Fish I used to buy at N100 is now N300, I was shocked when I first experienced this. Why is fish this expensive now, I don't know yet. But I hope things will change. But I'm not sure they will. Because in this country whatever price goes up, it hardly comes down.

Inflation is an economic problem that should not be taken lightly. We should not wait for government to solve it for us. We as individual marketers, business men and small traders should try to avoid it. Most products in this country today are expensive not because their cost of production is higher but because of the thirst for bigger profit by business owners,marketers and managers. They increase the price of some products just because the price of other products have risen. They show zero consideration to the income of their customers, zero care whether their customers will be okay with the increased price. Some hoard food stuff and other products just to creat their scarcity and increase their price in the market. This is uncalled for.

We need to learn to love for others what we love for ourselves. The mercy we show to others is thesame mercy the Almighty will show to us. Let's be people that fight against our country's problems not be its advocates. I pray for change and a better Nigeria.

God bless Nigeria. Happy Christmas and happy new year.