Kelvin Onovo Speaks on Rising Cost of Commodities in Nigeria

X account user identified as Kelvin Onovo in a recent post on social media made a tweet demanding the root causes of the continuous rise of Commodities In the market.

According to Kelvin, he said that someone wrote to the USA demanding the adjustment of visa price to reflect the new exchange rate which saw naira rising against dollar and USA responded positively by reducing the visa price from five hundred and sixty seven thousand naira to two hundred and fifty-nine thousand naira.

In his further tweet, he said that Elon Musk starlink also reacted positively by adjusting the starlink fee from above one million naira to four hundred and fifty thousand naira.

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Kelvin noted that he is surprised that essential commodities such as Garri is now very expensive in Nigeria including the ones that are not imported or tied to the dollar.

Commodities rose in Nigeria due to some factors and including the once-rising naira to the dollar which in recent days recorded the naira gaining strength against the dollar.

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For Kelvin Onovo, the new exchange rate is not reflecting the price of commodities in Nigeria and he asked if the dollar is really the issue as peddled and speculated by some marketers.

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