By Emeh James Anyalekwa
I have read lots if gibberish by my Igbo brothers and sisters, including the educated ones pouring venom and demonizing our brothers in the transport business for hike in fares during the yuletide.
During my elementary economics, I was taught that demand influences price both positively and negatively. Higher demand higher price and lower demand lower price.
I was taught that these market forces help to keep the market in equilibrium, without which the market will crash.
I understand that Nigeria operates a free market system except in some sectors that are partially price regulated.
You don’t expect transport company operator to charge same amount from Lagos to Aba during Xmas when traffic on that rout is at it’s peak with Lagos to Kano with very minimal traffic.
If they do, the business will crash!
The traffic from Lagos to Aba will triple because more people will be able to afford it.
There will be no buses to carry the surging travelers.
But due to the hike in price, some intending travelers who have nothing doing in Lagos would travel earlier when prices were lower.
Those who don’t have important reason to travel will stay back in Lagos.
Some transporters on Lagos to Kano rout will channel their buses to the Lagos – Aba rout.
Transporters will be motivated to run with less passenger at lower price or even empty from Aba back to Lagos because there is less traffic from Aba to Lagos during the Xmas.
These will help to reduce the pressure on demand in Lagos.
I have not mentioned the delay on road due to hold ups occasioned by the high traffic.
It may interest you to note that flight from London to Lagos tomorrow 24the December ranges between N750,000 to 1,000,000. The same London to Lagos on 16the January will drop to N170,000.
Igbo people are enterprising, that is one of our strengths not weakness.
Stop joining others to demonize our people for nothing.
Anyalekwa is the Executive Director Igbere TV and National President Online Media Practitioners Association of Nigeria (OMPAN)