By Osilama E. Osilama
Nigeria today faces a troubling economic paradox. Prices rise quickly when economic conditions worsen, yet they rarely decline when those conditions improve. This phenomenon—experienced daily by millions of Nigerians has quietly evolved into one of the most dangerous distortions in the country’s economic structure.
Though
I am not an economist, it increasingly appears that Nigeria operates what could
be described as a “one-way economy,” where prices move easily upward but almost
never downward. The implications of this pattern are profound, particularly for
the housing sector and the survival of the Nigerian middle class.
If Nigeria must build a fair and functional economy, government must confront the economics of pricing through deliberate policy reforms and, if necessary, a strong executive bill supported by legislation.
