capital of Nigeria, Residents of Abuja expressed concern on Tuesday about the high cost of gadgets and computer accessories in the country.
Traders and users speaking in an interview at the popular Computer Village in Wuse, Abuja on Tuesday predicted that as the holiday season approached, prices could rise further.
David Egbeda, owner of EO Technology Solutions, stated that product prices were strongly related to the appreciation of the dollar in the black market, which resulted in significant price increases observed.
“The prices of computer gadgets and accessories may not increase dramatically due to the lower exchange rate of the commercial banks.
“It’s the scarcity of dollars that can lead to a reduction in the supply of imported gadgets and then to higher prices.”
Egbeda said products that would definitely go up in price include the Apple iPhone, the latest Android phones and newer laptops.
“The older model laptops may not increase due to increased supply and decreased demand,” he said.
Gbenga Adetayo, a computer game specialist, said the recent CBN directive to obtain dollar bills only from commercial banks had caused the dollar to rise in the parallel market.
Describing the price increase as normal, Adetayo said: “Every trader equates his goods with the dollar; the higher the dollar, the harder it is for traders to replenish or even sell their inventory.”
Peter Olaniyi, a software engineer, advised that as a country, the faster we learned to assemble or manufacture gadgets and their parts in our country, the better.
Olaniyi said dealers would like to increase the price of the goods they had left as a result of the appreciation of the dollar.
“If the government or the private sector is able to invest in the manufacture or assembly of gadgets, the greater our chances are of strengthening our local currency for future generations and reducing dependence on foreign goods,” he said. .
Olayinka Ogun, CEO of Absolute Tech, said most of the products he sold were imported from the US and Europe.
“So this has a strong influence on the prices of computer gadgets.
“This heavy reliance on imports and foreign exchange has pushed prices up and this needs to be factored into the final price of the products sold,” he said.
Victor Ojo, a customer, expressed displeasure at the impact of the gadget price hike, saying that the prices of everything seemed to be rising and did not rule out computer gadgets.
“As a content creator I use computer gadgets such as telephone stand, ring light, airpods, etc.
“Hence, this price hike will significantly increase my costs and reduce my earning power,” he said.
Sherifat Omole, a tertiary education student, said she felt sorry for consumers of imported goods over rising import costs.
She added that as merchants look forward to the holiday season, the prices of even used gadgets and computer accessories would rise reflexively.
Another customer, Chika Okonkwo, also said that all computer gadget sellers faced the same challenges.
Okonkwo said that since all gadgets were in fact imported, he was not surprised that the prices of computer gadgets went up.
He also accused some fast dealers of taking advantage of the high exchange rates to charge higher prices for their wares, despite serving customers from their old stock.