Bendel Mirror | News Blog
PHOTO Opinion Tinubunomics Wanted In Edo State!!!

Written By: Udo Inobeme

17 Apr 2024 10:54 AM

The Godfather of Area Parliament Programme of Rythmn FM Radio, Benin Mr Abraham Asoro said it all on April 15, 2024. According to him, Edo State today is experiencing the worst hunger since it was created in 1991.

True, incontrovertible statement from a fearless patriot.

Why is there locust hunger in the land of plenty under Governor Godwin Obaseki?

It is because of comparatively oppressive high and galloping inflationary prices in the state that make access to quality life uneasy for poor.

Without wasting time, I will provide random snapshots of the spectacle.

On March 22 2022 some traders led a peaceful protest around Benin metropolis which took them to the hallowed revered palace of the Oba of Benin, house of assembly and the government house.

The protesters were demanding the regulation or even outright scrapping of unions in the state noting that there is an extant law allowing voluntary membership of unions in Nigeria.

The protesters affirmed that unions' monopolistic solidarity is a force majeure behind very high prices in the state.

One of the female protesters observed that even joining the unions is diabolically problematic.

Her story: "To enter d union no easy sef. Take d case of pumpkin leaf seller union. You need N150,000, drinks and several order tins before you can be a member. Afta dis, na d union go fix price you go sell your pumpkin leaves. And dem day put high price to sellam"

In another separate development, a woman phoned into a radio programme also registering her hatred for free fall capitalist unionism in Benin in particular under Obaseki. She narrated how a carton of fish was sold for N24,000 to Uromi town traders. Meanwhile the same carton of fish, supplied from Benin, was being sold for N27,000 in Benin. A big price differential of N3000 per carton. So, tell me why the fish in Benin won't cost more?

Mr Lucky Orukpe has tried to curb the excesses of unions in Benin. He has been unsuccessful because the government of Òbaseki suggestively is solidly behind them for political and electoral reasons. His computer tells him that if all doting union members vote for Asue Ighodalo in September 2024 the PDP will win the gubernatorial election in Edo State.

In Benin markets today, there is no okro for N100. It is sold for N200 and above. Very
expensive!!

In his phone-in contributions to 'Area Parliament' of Rythm FM Radio, Benin on April 15, 2024 Mr Omo Osifo, a public affairs analyst, observed that the dollar is falling but prices in Edo State are still rising because of unions' upward price manipulation while they are falling in Lagos and Onitsha in line with realtime price fundamentalism and market forces.

Also, Omo Osifo brought to the fore a predatory practice of fixing ecological price differential now common in the state. Two or more traders will be selling the same good for different prices. Therefore, always parambulate a market axis checkig for a least price before a final purchase. Otherwise, you will be ripped off.

Fixing high obtuse prices appears now to become a subconscious habit of most Edo people

Some examples, i accompanied a friend to Dumez Market in Benin to buy black market kerosene last month. The first seller we met was marketing a bottle of table water of kerosene for N2,000. No bargain. Another one said hers is N1,500

We continued to search for an agreeable price until we found a trader ready to sell hers for N1,400. All in the same market.

At a price of N1,400 the seller would still make a profit. Yet, someone was selling her own N2,000.

Of course, you can see an individualistic greed for super profits at work here.

Unionism only fixes a price below which you should not sell kerosene. No upper price boundaries are given. In a way therefore the union turned a blind eye to price upward movements with capitalist delight. 0ùtside the market without unions, prices and profit are determined by whims and caprices of each trader. Hence, there is serious price variations of goods.

For instance, in an axis of Boundary Road, Benin one unit of bread two weeks ago was sold for between N250 and N300 by different traders staying about 100 meters apart although by the same bakery.

A check showed the same traders on April 15, 2024 sold a Hypo sachet for N150 and N160 respectively.

Also, in that market ecological area a higher education note book is sold for N700 while a notorious trader sold hers for N1000.

The lesson here is that it is a misnomer to pontificate that unions alone are behind the galloping high prices in the state. It is true that unions could supply goods to free, non unionized stores or shops at union prices. However, the unions don't dictate to them at what price to sell the supplied goods.

The hue and cry in Edo State is over the relatively astronomical prices at which goods are sold in the state by unions and nonunions alike.

The state government is not bothered about the whole development. It does not have the social conscience to set up a price regulatory body to curb arbitrary high price fixing. Or is it that the PDP administration of Obaseki wants to transform the state into a HUB for excruciating high prices of goods and services?

Imagine, a bag of cement is sold for N11,000 in Abuja while in Benin it cost N13,000 when we even have cement companies in the state.

Aluminium produced in Benin is sold in Onitsha at a price cheaper than that of Benin.

Transport fare? Terrible!! From Ring Road to Market Square on Sapele Road in Benin is N400. So if you go to work from say Santana Market Area to Ring Road that means spending over N12,000 on trandport monthly alone. That is why some people now sleeping the office.

Corn used to be a good snack at lunch. Not so anymore. A cob sells for between N250 - 400.
How about cherry, pineapple and mangoes. Only the rich can afford them now.

Garri! A unit measure cost N2, 200. Dollar fell but the price shot up to N2,800.

Tenants in Edo State are not smiling. A certain landlord has increased his annual rent from N350,000 to N550,000.

Everyone is no more his brother's keeper.

Survivalism is the mantra even if it means others perishing. Afterall, the government is no longer there for anybody but the elite in office.

Estate agents have joined the rat race for money and have raIsed through increased prices for land.

For example, one of them princely fixed N2.5m for a 100 by 100 plot that ought to sell for N1m. When buyers didn't show up the estate agent announced a promo price of N1m. Hmmm, if a plot of your lañd could be sold for N1m, why did you initially fix N2.5m? It is all a case of charging arbitrary high price for goods.

Once upon a time, the price of travelling from Lagos to London was on the high side. About N3m. But somewhere along the line, President Bola Ahmed Tinubu intervened with his Tinubunomics.

Hey Abracadabra!!! Air Peace began to fly the route on March 30, pegging its price for a round-trip economy ticket at N1.2m.

The move crashed the high price of the route, sparking price war with foreign airlines to the benefit of Nigerians.

Tinubunomics is working in the aviation industry. Recently, I spoke to several Edo citizens and residents. All of them want Tinubunomics in Edo State to curb price manipulation for excessive profiteering. Is Obaseki listening?

Comments