According to Wikipedia, the term fixed price is a phrase used to mean the price of a good or a service which is not subject to bargaining. The term commonly indicates that an external agent, such as a merchant or the government, has set a price level, which may not be changed for individual sales. In the case of governments, this may be due to price controls.
With fixed price, inflation in Nigeria will be reducing to 3 per-cent. Presently, inflation in Nigeria stands at 8.4 per-cent in 2013.
Nigeria has experiences a lot of inflation in the past all as a result of no fixed price. Any manufacturing industry can just decide to increase its price of commodity without the public/government notice and this affect the society.
Inflation hit different geographical areas in Nigeria and this gives rise to corruption. In the past decade inflation rising to about 13 per-cent making corruption to be high, if you look into Nigeria’s societies at then you will see that “corruption create a great impact in the societies that corruption is controlling people at then”. Examples, fraud of different types enter into the societies like internet fraud, money doubler, human trafficking etc.
The government of Nigeria must condemned corruption and fights inflation to the lowest level.
With fixed price, inflation in Nigeria will be reducing to 3 per-cent. Presently, inflation in Nigeria stands at 8.4 per-cent in 2013.
Nigeria has experiences a lot of inflation in the past all as a result of no fixed price. Any manufacturing industry can just decide to increase its price of commodity without the public/government notice and this affect the society.
Inflation hit different geographical areas in Nigeria and this gives rise to corruption. In the past decade inflation rising to about 13 per-cent making corruption to be high, if you look into Nigeria’s societies at then you will see that “corruption create a great impact in the societies that corruption is controlling people at then”. Examples, fraud of different types enter into the societies like internet fraud, money doubler, human trafficking etc.
The government of Nigeria must condemned corruption and fights inflation to the lowest level.
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Reviewed by: Omagbemi Nelson Tosan
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