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Verses From Edith






Tuesday, October 7, 2014

The Nigerian economy should be one based on the presumption of a free market. This means that individuals and groups are free to do the work they choose to do, provide goods and services of their choosing and to spend money on the things they want. 

When the market functions properly, competing individuals or businesses provide the same (or similar) goods and services to consumers. Because consumers have a choice, providers will lower their prices to win consumer naira. The interplay of competition to supply a good or service and consumer demand for it will set a fair and efficient price in a free market. However, when there is no competition (and only one individual or business provides a good or service) the market cannot set an efficient price. In such instances, a monopoly is said to exist. 

A monopoly exists when an individual or firm can explicitly force competitors out of business by imposing anti-people policies through regulatory exclusivity, monetary influence of government organs, bribery or intimidation, Like in the current case of the cement war in Nigeria where #SON and the House of Representative in Nigeria have connived with Dangote to create a monopolistic system in the cement industry. Their ultimate goal is to stifle competition, impose upon the consumer a no-choice system, and stagnate on innovation. The likes of Standard Organisation of Nigeria (SON) through Joseph Odumodu and the 8-man "montized" Ad-hoc Committee on the Composition and Pigmentation of Cement in Nigeria should learn from the Coca-Colas and PEPSIs of this economy and they should also take a deep look at the transformational competitive process that birthed the new telecommunication sector – there was indeed a time when NITEL held sway with its awful national monopoly services accompanied by high cost with no added value to the customers in terms of desired experience. Once deregulated, the sector became competitive, prices are still getting better and now we the consumers can port to a better product and or service. 

This is another clarion call to all Nigerians and the Diaspora to join the Nigeria consumers, the #saynotomonopoly campaign and the Alliance Against Monopoly as we fully associate ourselves with the recent stance of the Nigerian Labour Congress (NLC) on the instigated cement crisis in Nigeria which has been found by all stakeholders as been unwholesome and extremely dangerous to an economy that is already sliding in the negative and that will impose severe burdens on the Nigerian society.

Join the #saynotomonopoly growing conversation on twitter currently reaching over 5 million in less than 2 weeks or on the #saynotomonopoly Facebook page. 

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