11/04/2024
I am very surprised that a lot of people are just learning basic economic principles of demand, supply and price.
If Ibinabo, my brother is selling local bread for N500 and Samuel, who I don't know is selling same bread for N350, I will buy from Samuel.
It is called price action.
Humans will always go for something cheaper that offers same value.
That is why it is called Capitalism.
Some people around my age or older than me remember when MTN said Sim card cannot be sold lesser than N15k.
Glo came and sold sim card for N2000 and that's how the price of sim card dropped.
MTN was doing per minute billing. Glo came with per second billing.
MTN was selling recharge card from N750 and above, Glo sold for N500.
You are enjoying better network, cheaper data rates, cheaper sim card because of competition.
Glo is a Nigerian company. MTN is not. But you still use MTN because of better coverage and network. Not because you don't love Nigeria or you hate the owner of glo. You use MTN because of better service.
When you want to book flight to UK, you are free to pay more on Air Peace, it is your money. Let others pay for cheaper tickets.
It is called a free market. 🤝